# EDGAR Filing Document

**Accession Number:** 0001097519
**File Stem:** 0001193125-26-208502
**Filing Date:** 2026-5
**Character Count:** 1900849
**Document Hash:** ed6b75a4cf386f8d938b0916f7ffb1c8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-208502.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001193125-26-208502

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 93

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**EFFECTIVENESS DATE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COLUMBIA FUNDS SERIES TRUST
- **CENTRAL INDEX KEY:** 0001097519

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09645
- **FILM NUMBER:** 26947559

**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:** NATIONS FUNDS TRUST
- **DATE OF NAME CHANGE:** 19991022

## Series and Classes Contracts Data

### Columbia Convertible Securities Fund (Series ID: S000010789)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000029837 | Columbia Convertible Securities Fund Class A               | PACIX           |
| C000029839 | Columbia Convertible Securities Fund Class C               | PHIKX           |
| C000029840 | Columbia Convertible Securities Fund Institutional Class   | NCIAX           |
| C000122575 | Columbia Convertible Securities Fund Institutional 2 Class | COCRX           |
| C000149202 | Columbia Convertible Securities Fund Institutional 3 Class | CSFYX           |
| C000253703 | Columbia Convertible Securities Fund Class S               | NCIDX           |

### Columbia Select Mid Cap Value Fund (Series ID: S000010792)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000029850 | Columbia Select Mid Cap Value Fund Class A               | CMUAX           |
| C000029852 | Columbia Select Mid Cap Value Fund Class C               | CMUCX           |
| C000029853 | Columbia Select Mid Cap Value Fund Class R               | CMVRX           |
| C000029854 | Columbia Select Mid Cap Value Fund Institutional Class   | NAMAX           |
| C000079026 | Columbia Select Mid Cap Value Fund Institutional 3 Class | CMVYX           |
| C000122577 | Columbia Select Mid Cap Value Fund Institutional 2 Class | CVERX           |
| C000253704 | Columbia Select Mid Cap Value Fund Class S               | NAMBX           |

### Columbia Small Cap Value and Inflection Fund (Series ID: S000010793)

| Class ID   | Class Name                                                         | Ticker Symbol   |
|:---|:---|:---|
| C000029855 | Columbia Small Cap Value and Inflection Fund Class A               | COVAX           |
| C000029858 | Columbia Small Cap Value and Inflection Fund Class R               | CCTRX           |
| C000029859 | Columbia Small Cap Value and Inflection Fund Institutional Class   | NSVAX           |
| C000122579 | Columbia Small Cap Value and Inflection Fund Institutional 2 Class | CRRRX           |
| C000122580 | Columbia Small Cap Value and Inflection Fund Institutional 3 Class | CRRYX           |
| C000253705 | Columbia Small Cap Value and Inflection Fund Class S               | NSVBX           |

### Columbia Cornerstone Equity Fund (Series ID: S000010795)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000029865 | Columbia Cornerstone Equity Fund Class A               | NSGAX           |
| C000029867 | Columbia Cornerstone Equity Fund Class C               | NSGCX           |
| C000029868 | Columbia Cornerstone Equity Fund Institutional Class   | NSEPX           |
| C000122583 | Columbia Cornerstone Equity Fund Institutional 2 Class | CLCRX           |
| C000173198 | Columbia Cornerstone Equity Fund Institutional 3 Class | CLEYX           |
| C000253706 | Columbia Cornerstone Equity Fund Class S               | NSEAX           |

### Columbia Large Cap Growth Opportunity Fund (Series ID: S000010797)

| Class ID   | Class Name                                                       | Ticker Symbol   |
|:---|:---|:---|
| C000029874 | Columbia Large Cap Growth Opportunity Fund Class A               | NFEAX           |
| C000029877 | Columbia Large Cap Growth Opportunity Fund Institutional Class   | NFEPX           |
| C000136868 | Columbia Large Cap Growth Opportunity Fund Institutional 2 Class | CADRX           |
| C000171353 | Columbia Large Cap Growth Opportunity Fund Institutional 3 Class | CLRYX           |
| C000175686 | Columbia Large Cap Growth Opportunity Fund Class R               | CLGPX           |
| C000253707 | Columbia Large Cap Growth Opportunity Fund Class S               | NFEDX           |

### Columbia Large Cap Enhanced Core Fund (Series ID: S000010818)

| Class ID   | Class Name                                                  | Ticker Symbol   |
|:---|:---|:---|
| C000030031 | Columbia Large Cap Enhanced Core Fund Class A               | NMIAX           |
| C000030032 | Columbia Large Cap Enhanced Core Fund Class R               | CCERX           |
| C000030033 | Columbia Large Cap Enhanced Core Fund Institutional Class   | NMIMX           |
| C000079027 | Columbia Large Cap Enhanced Core Fund Institutional 3 Class | CECYX           |
| C000253708 | Columbia Large Cap Enhanced Core Fund Class S               | NMIDX           |

### Columbia Large Cap Index Fund (Series ID: S000010825)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000030051 | Columbia Large Cap Index Fund Class A               | NEIAX           |
| C000030053 | Columbia Large Cap Index Fund Institutional Class   | NINDX           |
| C000122593 | Columbia Large Cap Index Fund Institutional 2 Class | CLXRX           |
| C000173199 | Columbia Large Cap Index Fund Institutional 3 Class | CLPYX           |

### Columbia Mid Cap Index Fund (Series ID: S000010826)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000030054 | Columbia Mid Cap Index Fund Class A               | NTIAX           |
| C000030055 | Columbia Mid Cap Index Fund Institutional Class   | NMPAX           |
| C000122594 | Columbia Mid Cap Index Fund Institutional 2 Class | CPXRX           |
| C000173200 | Columbia Mid Cap Index Fund Institutional 3 Class | CMDYX           |

### Columbia Small Cap Index Fund (Series ID: S000010827)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000030056 | Columbia Small Cap Index Fund Class A               | NMSAX           |
| C000030057 | Columbia Small Cap Index Fund Institutional Class   | NMSCX           |
| C000122595 | Columbia Small Cap Index Fund Institutional 2 Class | CXXRX           |
| C000173201 | Columbia Small Cap Index Fund Institutional 3 Class | CSPYX           |

### Columbia Overseas Value Fund (Series ID: S000021046)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000059843 | Columbia Overseas Value Fund Class A               | COAVX           |
| C000059844 | Columbia Overseas Value Fund Class C               | COCVX           |
| C000059845 | Columbia Overseas Value Fund Class R               | COVUX           |
| C000059846 | Columbia Overseas Value Fund Institutional Class   | COSZX           |
| C000159975 | Columbia Overseas Value Fund Institutional 2 Class | COSSX           |
| C000159976 | Columbia Overseas Value Fund Institutional 3 Class | COSYX           |
| C000253709 | Columbia Overseas Value Fund Class S               | COSBX           |

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

### 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 811-09645

## Columbia Funds Series Trust

#### (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 February

#### Date of reporting period: February 28, 2026

------

#### Item 1. Reports to Stockholders.

# Columbia Convertible Securities Fund
Class A \| PACIX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Convertible Securities Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $123 | 1.08% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** An underweight allocation to the consumer discretionary sector buoyed relative Fund performance during the annual period.

**Individual holdings \|** Positions in Lumentum, an electrical product manufacturing company, Bloom Energy, a power generation company, and Eos Energy Enterprises, a battery storage solutions company were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the real estate and information technology sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight allocation to the consumer staples sector detracted from relative performance.

**Individual holdings \|** Positions in Rocket Lab USA, an aerospace company, Live Nation Entertainment, an entertainment company, and Coinbase Global, a crypto platform company, were among the top detractors from relative performance during the period.

Columbia Convertible Securities Fund \| Class A **\|** ASR134_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g12i16.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Convertible Securities Fund Class A (including sales charges) ($31706)** | **Russell 3000<sup>®</sup> Index ($40728)** | **ICE BofA US Convertible Index ($32767)** |
| **02/16** | $9425 | $10000 | $10000 |
| **03/16** | $9923 | $10704 | $10464 |
| **04/16** | $10104 | $10770 | $10617 |
| **05/16** | $10318 | $10963 | $10798 |
| **06/16** | $10373 | $10986 | $10844 |
| **07/16** | $10845 | $11422 | $11337 |
| **08/16** | $10990 | $11451 | $11369 |
| **09/16** | $11173 | $11469 | $11497 |
| **10/16** | $10945 | $11221 | $11307 |
| **11/16** | $11281 | $11723 | $11565 |
| **12/16** | $11401 | $11952 | $11739 |
| **01/17** | $11741 | $12176 | $12052 |
| **02/17** | $11939 | $12629 | $12282 |
| **03/17** | $11985 | $12638 | $12360 |
| **04/17** | $12101 | $12772 | $12497 |
| **05/17** | $12204 | $12903 | $12584 |
| **06/17** | $12338 | $13019 | $12664 |
| **07/17** | $12650 | $13264 | $12920 |
| **08/17** | $12753 | $13290 | $12968 |
| **09/17** | $12935 | $13614 | $13142 |
| **10/17** | $13085 | $13911 | $13357 |
| **11/17** | $13137 | $14334 | $13373 |
| **12/17** | $13120 | $14477 | $13347 |
| **01/18** | $13581 | $15240 | $13760 |
| **02/18** | $13449 | $14678 | $13605 |
| **03/18** | $13432 | $14384 | $13667 |
| **04/18** | $13393 | $14438 | $13639 |
| **05/18** | $13896 | $14846 | $14123 |
| **06/18** | $13781 | $14943 | $14182 |
| **07/18** | $13921 | $15439 | $14274 |
| **08/18** | $14307 | $15981 | $14776 |
| **09/18** | $14288 | $16008 | $14739 |
| **10/18** | $13446 | $14829 | $13848 |
| **11/18** | $13613 | $15126 | $14024 |
| **12/18** | $12989 | $13718 | $13367 |
| **01/19** | $14069 | $14896 | $14298 |
| **02/19** | $14485 | $15419 | $14738 |
| **03/19** | $14532 | $15645 | $14738 |
| **04/19** | $14978 | $16269 | $15134 |
| **05/19** | $14525 | $15216 | $14638 |
| **06/19** | $15294 | $16285 | $15306 |
| **07/19** | $15456 | $16527 | $15567 |
| **08/19** | $15259 | $16190 | $15375 |
| **09/19** | $15246 | $16475 | $15330 |
| **10/19** | $15409 | $16829 | $15572 |
| **11/19** | $15977 | $17469 | $16063 |
| **12/19** | $16384 | $17973 | $16462 |
| **01/20** | $16849 | $17954 | $16925 |
| **02/20** | $16303 | $16484 | $16447 |
| **03/20** | $14242 | $14217 | $14220 |
| **04/20** | $15758 | $16100 | $15797 |
| **05/20** | $16984 | $16961 | $16863 |
| **06/20** | $17938 | $17349 | $17654 |
| **07/20** | $19245 | $18334 | $18935 |
| **08/20** | $20683 | $19662 | $20557 |
| **09/20** | $20312 | $18946 | $20113 |
| **10/20** | $20197 | $18537 | $19948 |
| **11/20** | $22808 | $20792 | $22485 |
| **12/20** | $24229 | $21728 | $24070 |
| **01/21** | $25028 | $21631 | $24801 |
| **02/21** | $25818 | $22307 | $25564 |
| **03/21** | $24742 | $23107 | $24760 |
| **04/21** | $25405 | $24298 | $25400 |
| **05/21** | $24928 | $24409 | $24971 |
| **06/21** | $25619 | $25010 | $25731 |
| **07/21** | $25304 | $25433 | $25566 |
| **08/21** | $25724 | $26159 | $26041 |
| **09/21** | $25284 | $24985 | $25605 |
| **10/21** | $25914 | $26675 | $26522 |
| **11/21** | $24977 | $26269 | $25581 |
| **12/21** | $25167 | $27303 | $25597 |
| **01/22** | $23347 | $25697 | $23920 |
| **02/22** | $23485 | $25049 | $23927 |
| **03/22** | $23815 | $25862 | $24213 |
| **04/22** | $22029 | $23541 | $22495 |
| **05/22** | $21246 | $23509 | $21768 |
| **06/22** | $19909 | $21543 | $20424 |
| **07/22** | $21093 | $23564 | $21587 |
| **08/22** | $21352 | $22684 | $21784 |
| **09/22** | $19875 | $20581 | $20482 |
| **10/22** | $20481 | $22269 | $21149 |
| **11/22** | $20827 | $23431 | $21483 |
| **12/22** | $20230 | $22059 | $20808 |
| **01/23** | $21470 | $23578 | $22015 |
| **02/23** | $21068 | $23027 | $21731 |
| **03/23** | $21021 | $23643 | $21588 |
| **04/23** | $20736 | $23895 | $21287 |
| **05/23** | $20779 | $23988 | $21475 |
| **06/23** | $21986 | $25626 | $22588 |
| **07/23** | $22494 | $26544 | $23205 |
| **08/23** | $21821 | $26032 | $22604 |
| **09/23** | $21209 | $24792 | $22017 |
| **10/23** | $20076 | $24135 | $21048 |
| **11/23** | $21220 | $26385 | $22144 |
| **12/23** | $22639 | $27785 | $23486 |
| **01/24** | $22483 | $28093 | $23213 |
| **02/24** | $22595 | $29613 | $23491 |
| **03/24** | $23030 | $30569 | $24037 |
| **04/24** | $22333 | $29224 | $23200 |
| **05/24** | $22850 | $30604 | $23765 |
| **06/24** | $23090 | $31552 | $23986 |
| **07/24** | $23508 | $32138 | $24448 |
| **08/24** | $23756 | $32838 | $24768 |
| **09/24** | $24240 | $33517 | $25249 |
| **10/24** | $24228 | $33271 | $25461 |
| **11/24** | $25760 | $35484 | $27185 |
| **12/24** | $24791 | $34400 | $26102 |
| **01/25** | $25567 | $35486 | $26796 |
| **02/25** | $24951 | $34806 | $26261 |
| **03/25** | $24284 | $32775 | $25543 |
| **04/25** | $24341 | $32556 | $25888 |
| **05/25** | $25212 | $34619 | $26731 |
| **06/25** | $26471 | $36378 | $27811 |
| **07/25** | $27254 | $37179 | $28583 |
| **08/25** | $27737 | $38039 | $29081 |
| **09/25** | $29023 | $39352 | $30199 |
| **10/25** | $30224 | $40196 | $31143 |
| **11/25** | $29716 | $40306 | $30924 |
| **12/25** | $29644 | $40298 | $30795 |
| **01/26** | $31359 | $40923 | $32214 |
| **02/26** | $31706 | $40728 | $32767 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A (excluding sales charges) | 27.07 | 4.19 | 12.90 |
| Class A (including sales charges) | 19.79 | 2.97 | 12.23 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| ICE BofA US Convertible Index | 24.77 | 5.09 | 12.60 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1590544812 |
| **Total number of portfolio holdings** | 118 |
| **Management services fees (represents 0.77% of Fund average net assets)** | $10354758 |
| **Portfolio turnover for the reporting period** | 212% |

---

Columbia Convertible Securities Fund \| Class A **\|** ASR134_01_(04/26) \|

## 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

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. 03/15/2032 0.375% | 4.6% |
| Western Digital Corp. 11/15/2028 3.000% | 3.0% |
| Bloom Energy Corp. 11/15/2030 0.000% | 2.6% |
| Boeing Co. (The) 6.000% | 2.5% |
| Live Nation Entertainment, Inc. 01/15/2030 2.875% | 2.3% |
| Bank of America Corp. 7.250% | 2.3% |
| NextEra Energy, Inc. 7.234% | 1.5% |
| Ionis Pharmaceuticals, Inc. 12/01/2030 0.000% | 1.3% |
| Akamai Technologies, Inc. 05/15/2033 0.250% | 1.3% |
| Oracle Corp. 6.500% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Convertible Bonds | 78.2% |
| Convertible Preferred Stocks | 18.0% |
| Money Market Funds | 3.4% |
| Common Stocks | 1.8% |
| Other | 0.6% |

---

## 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](g250382g50k50.jpg)

Columbia Convertible Securities Fund \| Class A **\|** ASR134_01_(04/26) \|

# Columbia Convertible Securities Fund
Class C \| PHIKX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Convertible Securities Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $207 | 1.83% |

---

## Management's Discussion of Fund Performance
The performance of Class C shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** An underweight allocation to the consumer discretionary sector buoyed relative Fund performance during the annual period.

**Individual holdings \|** Positions in Lumentum, an electrical product manufacturing company, Bloom Energy, a power generation company, and Eos Energy Enterprises, a battery storage solutions company were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the real estate and information technology sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight allocation to the consumer staples sector detracted from relative performance.

**Individual holdings \|** Positions in Rocket Lab USA, an aerospace company, Live Nation Entertainment, an entertainment company, and Coinbase Global, a crypto platform company, were among the top detractors from relative performance during the period.

Columbia Convertible Securities Fund \| Class C **\|** ASR134_04_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g33l88.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Convertible Securities Fund Class C (including sales charges) ($31210)** | **Russell 3000<sup>®</sup> Index ($40728)** | **ICE BofA US Convertible Index ($32767)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10517 | $10704 | $10464 |
| **04/16** | $10704 | $10770 | $10617 |
| **05/16** | $10924 | $10963 | $10798 |
| **06/16** | $10976 | $10986 | $10844 |
| **07/16** | $11464 | $11422 | $11337 |
| **08/16** | $11617 | $11451 | $11369 |
| **09/16** | $11803 | $11469 | $11497 |
| **10/16** | $11555 | $11221 | $11307 |
| **11/16** | $11897 | $11723 | $11565 |
| **12/16** | $12015 | $11952 | $11739 |
| **01/17** | $12367 | $12176 | $12052 |
| **02/17** | $12570 | $12629 | $12282 |
| **03/17** | $12615 | $12638 | $12360 |
| **04/17** | $12731 | $12772 | $12497 |
| **05/17** | $12826 | $12903 | $12584 |
| **06/17** | $12957 | $13019 | $12664 |
| **07/17** | $13278 | $13264 | $12920 |
| **08/17** | $13374 | $13290 | $12968 |
| **09/17** | $13560 | $13614 | $13142 |
| **10/17** | $13711 | $13911 | $13357 |
| **11/17** | $13760 | $14334 | $13373 |
| **12/17** | $13728 | $14477 | $13347 |
| **01/18** | $14205 | $15240 | $13760 |
| **02/18** | $14053 | $14678 | $13605 |
| **03/18** | $14024 | $14384 | $13667 |
| **04/18** | $13975 | $14438 | $13639 |
| **05/18** | $14495 | $14846 | $14123 |
| **06/18** | $14370 | $14943 | $14182 |
| **07/18** | $14502 | $15439 | $14274 |
| **08/18** | $14892 | $15981 | $14776 |
| **09/18** | $14872 | $16008 | $14739 |
| **10/18** | $13986 | $14829 | $13848 |
| **11/18** | $14147 | $15126 | $14024 |
| **12/18** | $13490 | $13718 | $13367 |
| **01/19** | $14608 | $14896 | $14298 |
| **02/19** | $15026 | $15419 | $14738 |
| **03/19** | $15063 | $15645 | $14738 |
| **04/19** | $15519 | $16269 | $15134 |
| **05/19** | $15041 | $15216 | $14638 |
| **06/19** | $15825 | $16285 | $15306 |
| **07/19** | $15986 | $16527 | $15567 |
| **08/19** | $15767 | $16190 | $15375 |
| **09/19** | $15746 | $16475 | $15330 |
| **10/19** | $15907 | $16829 | $15572 |
| **11/19** | $16481 | $17469 | $16063 |
| **12/19** | $16885 | $17973 | $16462 |
| **01/20** | $17358 | $17954 | $16925 |
| **02/20** | $16786 | $16484 | $16447 |
| **03/20** | $14658 | $14217 | $14220 |
| **04/20** | $16206 | $16100 | $15797 |
| **05/20** | $17455 | $16961 | $16863 |
| **06/20** | $18423 | $17349 | $17654 |
| **07/20** | $19746 | $18334 | $18935 |
| **08/20** | $21218 | $19662 | $20557 |
| **09/20** | $20823 | $18946 | $20113 |
| **10/20** | $20688 | $18537 | $19948 |
| **11/20** | $23348 | $20792 | $22485 |
| **12/20** | $24790 | $21728 | $24070 |
| **01/21** | $25593 | $21631 | $24801 |
| **02/21** | $26387 | $22307 | $25564 |
| **03/21** | $25268 | $23107 | $24760 |
| **04/21** | $25922 | $24298 | $25400 |
| **05/21** | $25433 | $24409 | $24971 |
| **06/21** | $26118 | $25010 | $25731 |
| **07/21** | $25778 | $25433 | $25566 |
| **08/21** | $26190 | $26159 | $26041 |
| **09/21** | $25726 | $24985 | $25605 |
| **10/21** | $26343 | $26675 | $26522 |
| **11/21** | $25378 | $26269 | $25581 |
| **12/21** | $25556 | $27303 | $25597 |
| **01/22** | $23690 | $25697 | $23920 |
| **02/22** | $23811 | $25049 | $23927 |
| **03/22** | $24142 | $25862 | $24213 |
| **04/22** | $22314 | $23541 | $22495 |
| **05/22** | $21507 | $23509 | $21768 |
| **06/22** | $20143 | $21543 | $20424 |
| **07/22** | $21324 | $23564 | $21587 |
| **08/22** | $21576 | $22684 | $21784 |
| **09/22** | $20070 | $20581 | $20482 |
| **10/22** | $20673 | $22269 | $21149 |
| **11/22** | $21002 | $23431 | $21483 |
| **12/22** | $20380 | $22059 | $20808 |
| **01/23** | $21625 | $23578 | $22015 |
| **02/23** | $21206 | $23027 | $21731 |
| **03/23** | $21139 | $23643 | $21588 |
| **04/23** | $20852 | $23895 | $21287 |
| **05/23** | $20885 | $23988 | $21475 |
| **06/23** | $22075 | $25626 | $22588 |
| **07/23** | $22565 | $26544 | $23205 |
| **08/23** | $21875 | $26032 | $22604 |
| **09/23** | $21259 | $24792 | $22017 |
| **10/23** | $20108 | $24135 | $21048 |
| **11/23** | $21237 | $26385 | $22144 |
| **12/23** | $22647 | $27785 | $23486 |
| **01/24** | $22479 | $28093 | $23213 |
| **02/24** | $22568 | $29613 | $23491 |
| **03/24** | $22996 | $30569 | $24037 |
| **04/24** | $22286 | $29224 | $23200 |
| **05/24** | $22793 | $30604 | $23765 |
| **06/24** | $23014 | $31552 | $23986 |
| **07/24** | $23409 | $32138 | $24448 |
| **08/24** | $23647 | $32838 | $24768 |
| **09/24** | $24108 | $33517 | $25249 |
| **10/24** | $24085 | $33271 | $25461 |
| **11/24** | $25594 | $35484 | $27185 |
| **12/24** | $24613 | $34400 | $26102 |
| **01/25** | $25364 | $35486 | $26796 |
| **02/25** | $24750 | $34806 | $26261 |
| **03/25** | $24061 | $32775 | $25543 |
| **04/25** | $24107 | $32556 | $25888 |
| **05/25** | $24951 | $34619 | $26731 |
| **06/25** | $26180 | $36378 | $27811 |
| **07/25** | $26947 | $37179 | $28583 |
| **08/25** | $27404 | $38039 | $29081 |
| **09/25** | $28653 | $39352 | $30199 |
| **10/25** | $29821 | $40196 | $31143 |
| **11/25** | $29294 | $40306 | $30924 |
| **12/25** | $29203 | $40298 | $30795 |
| **01/26** | $30878 | $40923 | $32214 |
| **02/26** | $31210 | $40728 | $32767 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class C (excluding sales charges) | 26.10 | 3.41 | 12.05 |
| Class C (including sales charges) | 25.10 | 3.41 | 12.05 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| ICE BofA US Convertible Index | 24.77 | 5.09 | 12.60 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1590544812 |
| **Total number of portfolio holdings** | 118 |
| **Management services fees (represents 0.77% of Fund average net assets)** | $10354758 |
| **Portfolio turnover for the reporting period** | 212% |

---

Columbia Convertible Securities Fund \| Class C **\|** ASR134_04_(04/26) \|

## 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

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. 03/15/2032 0.375% | 4.6% |
| Western Digital Corp. 11/15/2028 3.000% | 3.0% |
| Bloom Energy Corp. 11/15/2030 0.000% | 2.6% |
| Boeing Co. (The) 6.000% | 2.5% |
| Live Nation Entertainment, Inc. 01/15/2030 2.875% | 2.3% |
| Bank of America Corp. 7.250% | 2.3% |
| NextEra Energy, Inc. 7.234% | 1.5% |
| Ionis Pharmaceuticals, Inc. 12/01/2030 0.000% | 1.3% |
| Akamai Technologies, Inc. 05/15/2033 0.250% | 1.3% |
| Oracle Corp. 6.500% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Convertible Bonds | 78.2% |
| Convertible Preferred Stocks | 18.0% |
| Money Market Funds | 3.4% |
| Common Stocks | 1.8% |
| Other | 0.6% |

---

## 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](g250382g50k50.jpg)

Columbia Convertible Securities Fund \| Class C **\|** ASR134_04_(04/26) \|

# Columbia Convertible Securities Fund
Class S \| NCIDX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Convertible Securities Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $94 | 0.83% |

---

## Management's Discussion of Fund Performance
The performance of Class S shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** An underweight allocation to the consumer discretionary sector buoyed relative Fund performance during the annual period.

**Individual holdings \|** Positions in Lumentum, an electrical product manufacturing company, Bloom Energy, a power generation company, and Eos Energy Enterprises, a battery storage solutions company were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the real estate and information technology sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight allocation to the consumer staples sector detracted from relative performance.

**Individual holdings \|** Positions in Rocket Lab USA, an aerospace company, Live Nation Entertainment, an entertainment company, and Coinbase Global, a crypto platform company, were among the top detractors from relative performance during the period.

Columbia Convertible Securities Fund \| Class S **\|** ASR134_16_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g83c40.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Convertible Securities Fund Class S ($33777)** | **Russell 3000<sup>®</sup> Index ($40728)** | **ICE BofA US Convertible Index ($32767)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10528 | $10704 | $10464 |
| **04/16** | $10721 | $10770 | $10617 |
| **05/16** | $10947 | $10963 | $10798 |
| **06/16** | $11007 | $10986 | $10844 |
| **07/16** | $11508 | $11422 | $11337 |
| **08/16** | $11661 | $11451 | $11369 |
| **09/16** | $11855 | $11469 | $11497 |
| **10/16** | $11613 | $11221 | $11307 |
| **11/16** | $11970 | $11723 | $11565 |
| **12/16** | $12097 | $11952 | $11739 |
| **01/17** | $12458 | $12176 | $12052 |
| **02/17** | $12668 | $12629 | $12282 |
| **03/17** | $12716 | $12638 | $12360 |
| **04/17** | $12840 | $12772 | $12497 |
| **05/17** | $12949 | $12903 | $12584 |
| **06/17** | $13091 | $13019 | $12664 |
| **07/17** | $13422 | $13264 | $12920 |
| **08/17** | $13532 | $13290 | $12968 |
| **09/17** | $13724 | $13614 | $13142 |
| **10/17** | $13884 | $13911 | $13357 |
| **11/17** | $13939 | $14334 | $13373 |
| **12/17** | $13921 | $14477 | $13347 |
| **01/18** | $14410 | $15240 | $13760 |
| **02/18** | $14270 | $14678 | $13605 |
| **03/18** | $14252 | $14384 | $13667 |
| **04/18** | $14210 | $14438 | $13639 |
| **05/18** | $14744 | $14846 | $14123 |
| **06/18** | $14623 | $14943 | $14182 |
| **07/18** | $14771 | $15439 | $14274 |
| **08/18** | $15180 | $15981 | $14776 |
| **09/18** | $15160 | $16008 | $14739 |
| **10/18** | $14267 | $14829 | $13848 |
| **11/18** | $14444 | $15126 | $14024 |
| **12/18** | $13782 | $13718 | $13367 |
| **01/19** | $14928 | $14896 | $14298 |
| **02/19** | $15369 | $15419 | $14738 |
| **03/19** | $15420 | $15645 | $14738 |
| **04/19** | $15892 | $16269 | $15134 |
| **05/19** | $15412 | $15216 | $14638 |
| **06/19** | $16227 | $16285 | $15306 |
| **07/19** | $16400 | $16527 | $15567 |
| **08/19** | $16190 | $16190 | $15375 |
| **09/19** | $16177 | $16475 | $15330 |
| **10/19** | $16350 | $16829 | $15572 |
| **11/19** | $16952 | $17469 | $16063 |
| **12/19** | $17384 | $17973 | $16462 |
| **01/20** | $17877 | $17954 | $16925 |
| **02/20** | $17298 | $16484 | $16447 |
| **03/20** | $15112 | $14217 | $14220 |
| **04/20** | $16720 | $16100 | $15797 |
| **05/20** | $18020 | $16961 | $16863 |
| **06/20** | $19033 | $17349 | $17654 |
| **07/20** | $20420 | $18334 | $18935 |
| **08/20** | $21945 | $19662 | $20557 |
| **09/20** | $21552 | $18946 | $20113 |
| **10/20** | $21430 | $18537 | $19948 |
| **11/20** | $24201 | $20792 | $22485 |
| **12/20** | $25708 | $21728 | $24070 |
| **01/21** | $26556 | $21631 | $24801 |
| **02/21** | $27394 | $22307 | $25564 |
| **03/21** | $26252 | $23107 | $24760 |
| **04/21** | $26956 | $24298 | $25400 |
| **05/21** | $26450 | $24409 | $24971 |
| **06/21** | $27183 | $25010 | $25731 |
| **07/21** | $26849 | $25433 | $25566 |
| **08/21** | $27294 | $26159 | $26041 |
| **09/21** | $26827 | $24985 | $25605 |
| **10/21** | $27496 | $26675 | $26522 |
| **11/21** | $26502 | $26269 | $25581 |
| **12/21** | $26703 | $27303 | $25597 |
| **01/22** | $24772 | $25697 | $23920 |
| **02/22** | $24919 | $25049 | $23927 |
| **03/22** | $25269 | $25862 | $24213 |
| **04/22** | $23374 | $23541 | $22495 |
| **05/22** | $22543 | $23509 | $21768 |
| **06/22** | $21124 | $21543 | $20424 |
| **07/22** | $22381 | $23564 | $21587 |
| **08/22** | $22655 | $22684 | $21784 |
| **09/22** | $21089 | $20581 | $20482 |
| **10/22** | $21731 | $22269 | $21149 |
| **11/22** | $22098 | $23431 | $21483 |
| **12/22** | $21465 | $22059 | $20808 |
| **01/23** | $22781 | $23578 | $22015 |
| **02/23** | $22354 | $23027 | $21731 |
| **03/23** | $22304 | $23643 | $21588 |
| **04/23** | $22001 | $23895 | $21287 |
| **05/23** | $22048 | $23988 | $21475 |
| **06/23** | $23329 | $25626 | $22588 |
| **07/23** | $23868 | $26544 | $23205 |
| **08/23** | $23153 | $26032 | $22604 |
| **09/23** | $22504 | $24792 | $22017 |
| **10/23** | $21302 | $24135 | $21048 |
| **11/23** | $22515 | $26385 | $22144 |
| **12/23** | $24021 | $27785 | $23486 |
| **01/24** | $23855 | $28093 | $23213 |
| **02/24** | $23974 | $29613 | $23491 |
| **03/24** | $24436 | $30569 | $24037 |
| **04/24** | $23697 | $29224 | $23200 |
| **05/24** | $24245 | $30604 | $23765 |
| **06/24** | $24500 | $31552 | $23986 |
| **07/24** | $24943 | $32138 | $24448 |
| **08/24** | $25207 | $32838 | $24768 |
| **09/24** | $25720 | $33517 | $25249 |
| **10/24** | $25720 | $33271 | $25461 |
| **11/24** | $27354 | $35484 | $27185 |
| **12/24** | $26331 | $34400 | $26102 |
| **01/25** | $27165 | $35486 | $26796 |
| **02/25** | $26512 | $34806 | $26261 |
| **03/25** | $25809 | $32775 | $25543 |
| **04/25** | $25882 | $32556 | $25888 |
| **05/25** | $26805 | $34619 | $26731 |
| **06/25** | $28145 | $36378 | $27811 |
| **07/25** | $28988 | $37179 | $28583 |
| **08/25** | $29513 | $38039 | $29081 |
| **09/25** | $30883 | $39352 | $30199 |
| **10/25** | $32170 | $40196 | $31143 |
| **11/25** | $31631 | $40306 | $30924 |
| **12/25** | $31562 | $40298 | $30795 |
| **01/26** | $33395 | $40923 | $32214 |
| **02/26** | $33777 | $40728 | $32767 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class S<sup>Footnote Reference(a)</sup> | 27.40 | 4.28 | 12.94 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| ICE BofA US Convertible Index | 24.77 | 5.09 | 12.60 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to October 2, 2024 (including Since Fund Inception returns, if shown) include the returns of Class A. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1590544812 |
| **Total number of portfolio holdings** | 118 |
| **Management services fees (represents 0.77% of Fund average net assets)** | $10354758 |
| **Portfolio turnover for the reporting period** | 212% |

---

Columbia Convertible Securities Fund \| Class S **\|** ASR134_16_(04/26) \|

## 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

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. 03/15/2032 0.375% | 4.6% |
| Western Digital Corp. 11/15/2028 3.000% | 3.0% |
| Bloom Energy Corp. 11/15/2030 0.000% | 2.6% |
| Boeing Co. (The) 6.000% | 2.5% |
| Live Nation Entertainment, Inc. 01/15/2030 2.875% | 2.3% |
| Bank of America Corp. 7.250% | 2.3% |
| NextEra Energy, Inc. 7.234% | 1.5% |
| Ionis Pharmaceuticals, Inc. 12/01/2030 0.000% | 1.3% |
| Akamai Technologies, Inc. 05/15/2033 0.250% | 1.3% |
| Oracle Corp. 6.500% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Convertible Bonds | 78.2% |
| Convertible Preferred Stocks | 18.0% |
| Money Market Funds | 3.4% |
| Common Stocks | 1.8% |
| Other | 0.6% |

---

## 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](g250382g50k50.jpg)

Columbia Convertible Securities Fund \| Class S **\|** ASR134_16_(04/26) \|

# Columbia Convertible Securities Fund
Institutional 2 Class \| COCRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Convertible Securities Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $90 | 0.79% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** An underweight allocation to the consumer discretionary sector buoyed relative Fund performance during the annual period.

**Individual holdings \|** Positions in Lumentum, an electrical product manufacturing company, Bloom Energy, a power generation company, and Eos Energy Enterprises, a battery storage solutions company were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the real estate and information technology sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight allocation to the consumer staples sector detracted from relative performance.

**Individual holdings \|** Positions in Rocket Lab USA, an aerospace company, Live Nation Entertainment, an entertainment company, and Coinbase Global, a crypto platform company, were among the top detractors from relative performance during the period.

Columbia Convertible Securities Fund \| Institutional 2 Class **\|** ASR134_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g50o19.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Convertible Securities Fund Institutional 2 Class ($34700)** | **Russell 3000<sup>®</sup> Index ($40728)** | **ICE BofA US Convertible Index ($32767)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10526 | $10704 | $10464 |
| **04/16** | $10724 | $10770 | $10617 |
| **05/16** | $10955 | $10963 | $10798 |
| **06/16** | $11017 | $10986 | $10844 |
| **07/16** | $11521 | $11422 | $11337 |
| **08/16** | $11680 | $11451 | $11369 |
| **09/16** | $11876 | $11469 | $11497 |
| **10/16** | $11643 | $11221 | $11307 |
| **11/16** | $11997 | $11723 | $11565 |
| **12/16** | $12127 | $11952 | $11739 |
| **01/17** | $12492 | $12176 | $12052 |
| **02/17** | $12708 | $12629 | $12282 |
| **03/17** | $12760 | $12638 | $12360 |
| **04/17** | $12889 | $12772 | $12497 |
| **05/17** | $13005 | $12903 | $12584 |
| **06/17** | $13144 | $13019 | $12664 |
| **07/17** | $13487 | $13264 | $12920 |
| **08/17** | $13597 | $13290 | $12968 |
| **09/17** | $13792 | $13614 | $13142 |
| **10/17** | $13965 | $13911 | $13357 |
| **11/17** | $14021 | $14334 | $13373 |
| **12/17** | $14007 | $14477 | $13347 |
| **01/18** | $14502 | $15240 | $13760 |
| **02/18** | $14363 | $14678 | $13605 |
| **03/18** | $14349 | $14384 | $13667 |
| **04/18** | $14307 | $14438 | $13639 |
| **05/18** | $14854 | $14846 | $14123 |
| **06/18** | $14737 | $14943 | $14182 |
| **07/18** | $14892 | $15439 | $14274 |
| **08/18** | $15301 | $15981 | $14776 |
| **09/18** | $15286 | $16008 | $14739 |
| **10/18** | $14393 | $14829 | $13848 |
| **11/18** | $14570 | $15126 | $14024 |
| **12/18** | $13905 | $13718 | $13367 |
| **01/19** | $15073 | $14896 | $14298 |
| **02/19** | $15521 | $15419 | $14738 |
| **03/19** | $15577 | $15645 | $14738 |
| **04/19** | $16057 | $16269 | $15134 |
| **05/19** | $15577 | $15216 | $14638 |
| **06/19** | $16406 | $16285 | $15306 |
| **07/19** | $16586 | $16527 | $15567 |
| **08/19** | $16376 | $16190 | $15375 |
| **09/19** | $16368 | $16475 | $15330 |
| **10/19** | $16549 | $16829 | $15572 |
| **11/19** | $17160 | $17469 | $16063 |
| **12/19** | $17599 | $17973 | $16462 |
| **01/20** | $18109 | $17954 | $16925 |
| **02/20** | $17520 | $16484 | $16447 |
| **03/20** | $15312 | $14217 | $14220 |
| **04/20** | $16950 | $16100 | $15797 |
| **05/20** | $18271 | $16961 | $16863 |
| **06/20** | $19301 | $17349 | $17654 |
| **07/20** | $20710 | $18334 | $18935 |
| **08/20** | $22266 | $19662 | $20557 |
| **09/20** | $21872 | $18946 | $20113 |
| **10/20** | $21749 | $18537 | $19948 |
| **11/20** | $24566 | $20792 | $22485 |
| **12/20** | $26109 | $21728 | $24070 |
| **01/21** | $26978 | $21631 | $24801 |
| **02/21** | $27838 | $22307 | $25564 |
| **03/21** | $26686 | $23107 | $24760 |
| **04/21** | $27402 | $24298 | $25400 |
| **05/21** | $26901 | $24409 | $24971 |
| **06/21** | $27651 | $25010 | $25731 |
| **07/21** | $27315 | $25433 | $25566 |
| **08/21** | $27772 | $26159 | $26041 |
| **09/21** | $27314 | $24985 | $25605 |
| **10/21** | $27997 | $26675 | $26522 |
| **11/21** | $26997 | $26269 | $25581 |
| **12/21** | $27204 | $27303 | $25597 |
| **01/22** | $25240 | $25697 | $23920 |
| **02/22** | $25398 | $25049 | $23927 |
| **03/22** | $25769 | $25862 | $24213 |
| **04/22** | $23841 | $23541 | $22495 |
| **05/22** | $22993 | $23509 | $21768 |
| **06/22** | $21551 | $21543 | $20424 |
| **07/22** | $22839 | $23564 | $21587 |
| **08/22** | $23127 | $22684 | $21784 |
| **09/22** | $21533 | $20581 | $20482 |
| **10/22** | $22203 | $22269 | $21149 |
| **11/22** | $22572 | $23431 | $21483 |
| **12/22** | $21928 | $22059 | $20808 |
| **01/23** | $23290 | $23578 | $22015 |
| **02/23** | $22859 | $23027 | $21731 |
| **03/23** | $22803 | $23643 | $21588 |
| **04/23** | $22509 | $23895 | $21287 |
| **05/23** | $22556 | $23988 | $21475 |
| **06/23** | $23877 | $25626 | $22588 |
| **07/23** | $24433 | $26544 | $23205 |
| **08/23** | $23700 | $26032 | $22604 |
| **09/23** | $23050 | $24792 | $22017 |
| **10/23** | $21825 | $24135 | $21048 |
| **11/23** | $23074 | $26385 | $22144 |
| **12/23** | $24625 | $27785 | $23486 |
| **01/24** | $24457 | $28093 | $23213 |
| **02/24** | $24577 | $29613 | $23491 |
| **03/24** | $25074 | $30569 | $24037 |
| **04/24** | $24315 | $29224 | $23200 |
| **05/24** | $24881 | $30604 | $23765 |
| **06/24** | $25145 | $31552 | $23986 |
| **07/24** | $25605 | $32138 | $24448 |
| **08/24** | $25884 | $32838 | $24768 |
| **09/24** | $26422 | $33517 | $25249 |
| **10/24** | $26410 | $33271 | $25461 |
| **11/24** | $28092 | $35484 | $27185 |
| **12/24** | $27033 | $34400 | $26102 |
| **01/25** | $27891 | $35486 | $26796 |
| **02/25** | $27229 | $34806 | $26261 |
| **03/25** | $26507 | $32775 | $25543 |
| **04/25** | $26581 | $32556 | $25888 |
| **05/25** | $27530 | $34619 | $26731 |
| **06/25** | $28905 | $36378 | $27811 |
| **07/25** | $29784 | $37179 | $28583 |
| **08/25** | $30317 | $38039 | $29081 |
| **09/25** | $31735 | $39352 | $30199 |
| **10/25** | $33054 | $40196 | $31143 |
| **11/25** | $32494 | $40306 | $30924 |
| **12/25** | $32427 | $40298 | $30795 |
| **01/26** | $34313 | $40923 | $32214 |
| **02/26** | $34700 | $40728 | $32767 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 27.44 | 4.50 | 13.25 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| ICE BofA US Convertible Index | 24.77 | 5.09 | 12.60 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1590544812 |
| **Total number of portfolio holdings** | 118 |
| **Management services fees (represents 0.77% of Fund average net assets)** | $10354758 |
| **Portfolio turnover for the reporting period** | 212% |

---

Columbia Convertible Securities Fund \| Institutional 2 Class **\|** ASR134_15_(04/26) \|

## 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

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. 03/15/2032 0.375% | 4.6% |
| Western Digital Corp. 11/15/2028 3.000% | 3.0% |
| Bloom Energy Corp. 11/15/2030 0.000% | 2.6% |
| Boeing Co. (The) 6.000% | 2.5% |
| Live Nation Entertainment, Inc. 01/15/2030 2.875% | 2.3% |
| Bank of America Corp. 7.250% | 2.3% |
| NextEra Energy, Inc. 7.234% | 1.5% |
| Ionis Pharmaceuticals, Inc. 12/01/2030 0.000% | 1.3% |
| Akamai Technologies, Inc. 05/15/2033 0.250% | 1.3% |
| Oracle Corp. 6.500% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Convertible Bonds | 78.2% |
| Convertible Preferred Stocks | 18.0% |
| Money Market Funds | 3.4% |
| Common Stocks | 1.8% |
| Other | 0.6% |

---

## 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](g250382g50k50.jpg)

Columbia Convertible Securities Fund \| Institutional 2 Class **\|** ASR134_15_(04/26) \|

# Columbia Convertible Securities Fund
Institutional 3 Class \| CSFYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Convertible Securities Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $84 | 0.74% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** An underweight allocation to the consumer discretionary sector buoyed relative Fund performance during the annual period.

**Individual holdings \|** Positions in Lumentum, an electrical product manufacturing company, Bloom Energy, a power generation company, and Eos Energy Enterprises, a battery storage solutions company were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the real estate and information technology sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight allocation to the consumer staples sector detracted from relative performance.

**Individual holdings \|** Positions in Rocket Lab USA, an aerospace company, Live Nation Entertainment, an entertainment company, and Coinbase Global, a crypto platform company, were among the top detractors from relative performance during the period.

Columbia Convertible Securities Fund \| Institutional 3 Class **\|** ASR134_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g95m60.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Convertible Securities Fund Institutional 3 Class ($34871)** | **Russell 3000<sup>®</sup> Index ($40728)** | **ICE BofA US Convertible Index ($32767)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10530 | $10704 | $10464 |
| **04/16** | $10727 | $10770 | $10617 |
| **05/16** | $10956 | $10963 | $10798 |
| **06/16** | $11018 | $10986 | $10844 |
| **07/16** | $11519 | $11422 | $11337 |
| **08/16** | $11684 | $11451 | $11369 |
| **09/16** | $11880 | $11469 | $11497 |
| **10/16** | $11641 | $11221 | $11307 |
| **11/16** | $11999 | $11723 | $11565 |
| **12/16** | $12130 | $11952 | $11739 |
| **01/17** | $12499 | $12176 | $12052 |
| **02/17** | $12714 | $12629 | $12282 |
| **03/17** | $12767 | $12638 | $12360 |
| **04/17** | $12896 | $12772 | $12497 |
| **05/17** | $13011 | $12903 | $12584 |
| **06/17** | $13157 | $13019 | $12664 |
| **07/17** | $13497 | $13264 | $12920 |
| **08/17** | $13606 | $13290 | $12968 |
| **09/17** | $13803 | $13614 | $13142 |
| **10/17** | $13974 | $13911 | $13357 |
| **11/17** | $14029 | $14334 | $13373 |
| **12/17** | $14017 | $14477 | $13347 |
| **01/18** | $14516 | $15240 | $13760 |
| **02/18** | $14371 | $14678 | $13605 |
| **03/18** | $14359 | $14384 | $13667 |
| **04/18** | $14317 | $14438 | $13639 |
| **05/18** | $14867 | $14846 | $14123 |
| **06/18** | $14753 | $14943 | $14182 |
| **07/18** | $14907 | $15439 | $14274 |
| **08/18** | $15320 | $15981 | $14776 |
| **09/18** | $15308 | $16008 | $14739 |
| **10/18** | $14413 | $14829 | $13848 |
| **11/18** | $14589 | $15126 | $14024 |
| **12/18** | $13923 | $13718 | $13367 |
| **01/19** | $15091 | $14896 | $14298 |
| **02/19** | $15536 | $15419 | $14738 |
| **03/19** | $15593 | $15645 | $14738 |
| **04/19** | $16077 | $16269 | $15134 |
| **05/19** | $15600 | $15216 | $14638 |
| **06/19** | $16426 | $16285 | $15306 |
| **07/19** | $16612 | $16527 | $15567 |
| **08/19** | $16396 | $16190 | $15375 |
| **09/19** | $16390 | $16475 | $15330 |
| **10/19** | $16570 | $16829 | $15572 |
| **11/19** | $17185 | $17469 | $16063 |
| **12/19** | $17630 | $17973 | $16462 |
| **01/20** | $18137 | $17954 | $16925 |
| **02/20** | $17552 | $16484 | $16447 |
| **03/20** | $15344 | $14217 | $14220 |
| **04/20** | $16979 | $16100 | $15797 |
| **05/20** | $18300 | $16961 | $16863 |
| **06/20** | $19332 | $17349 | $17654 |
| **07/20** | $20748 | $18334 | $18935 |
| **08/20** | $22310 | $19662 | $20557 |
| **09/20** | $21913 | $18946 | $20113 |
| **10/20** | $21790 | $18537 | $19948 |
| **11/20** | $24621 | $20792 | $22485 |
| **12/20** | $26164 | $21728 | $24070 |
| **01/21** | $27027 | $21631 | $24801 |
| **02/21** | $27898 | $22307 | $25564 |
| **03/21** | $26739 | $23107 | $24760 |
| **04/21** | $27459 | $24298 | $25400 |
| **05/21** | $26962 | $24409 | $24971 |
| **06/21** | $27709 | $25010 | $25731 |
| **07/21** | $27385 | $25433 | $25566 |
| **08/21** | $27838 | $26159 | $26041 |
| **09/21** | $27377 | $24985 | $25605 |
| **10/21** | $28064 | $26675 | $26522 |
| **11/21** | $27053 | $26269 | $25581 |
| **12/21** | $27271 | $27303 | $25597 |
| **01/22** | $25303 | $25697 | $23920 |
| **02/22** | $25460 | $25049 | $23927 |
| **03/22** | $25830 | $25862 | $24213 |
| **04/22** | $23897 | $23541 | $22495 |
| **05/22** | $23057 | $23509 | $21768 |
| **06/22** | $21609 | $21543 | $20424 |
| **07/22** | $22896 | $23564 | $21587 |
| **08/22** | $23192 | $22684 | $21784 |
| **09/22** | $21593 | $20581 | $20482 |
| **10/22** | $22268 | $22269 | $21149 |
| **11/22** | $22634 | $23431 | $21483 |
| **12/22** | $21998 | $22059 | $20808 |
| **01/23** | $23358 | $23578 | $22015 |
| **02/23** | $22932 | $23027 | $21731 |
| **03/23** | $22878 | $23643 | $21588 |
| **04/23** | $22576 | $23895 | $21287 |
| **05/23** | $22634 | $23988 | $21475 |
| **06/23** | $23956 | $25626 | $22588 |
| **07/23** | $24507 | $26544 | $23205 |
| **08/23** | $23781 | $26032 | $22604 |
| **09/23** | $23116 | $24792 | $22017 |
| **10/23** | $21902 | $24135 | $21048 |
| **11/23** | $23152 | $26385 | $22144 |
| **12/23** | $24702 | $27785 | $23486 |
| **01/24** | $24536 | $28093 | $23213 |
| **02/24** | $24667 | $29613 | $23491 |
| **03/24** | $25162 | $30569 | $24037 |
| **04/24** | $24410 | $29224 | $23200 |
| **05/24** | $24971 | $30604 | $23765 |
| **06/24** | $25235 | $31552 | $23986 |
| **07/24** | $25704 | $32138 | $24448 |
| **08/24** | $25980 | $32838 | $24768 |
| **09/24** | $26516 | $33517 | $25249 |
| **10/24** | $26516 | $33271 | $25461 |
| **11/24** | $28195 | $35484 | $27185 |
| **12/24** | $27149 | $34400 | $26102 |
| **01/25** | $27999 | $35486 | $26796 |
| **02/25** | $27343 | $34806 | $26261 |
| **03/25** | $26619 | $32775 | $25543 |
| **04/25** | $26692 | $32556 | $25888 |
| **05/25** | $27644 | $34619 | $26731 |
| **06/25** | $29034 | $36378 | $27811 |
| **07/25** | $29906 | $37179 | $28583 |
| **08/25** | $30446 | $38039 | $29081 |
| **09/25** | $31867 | $39352 | $30199 |
| **10/25** | $33199 | $40196 | $31143 |
| **11/25** | $32644 | $40306 | $30924 |
| **12/25** | $32569 | $40298 | $30795 |
| **01/26** | $34463 | $40923 | $32214 |
| **02/26** | $34871 | $40728 | $32767 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class | 27.53 | 4.56 | 13.30 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| ICE BofA US Convertible Index | 24.77 | 5.09 | 12.60 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1590544812 |
| **Total number of portfolio holdings** | 118 |
| **Management services fees (represents 0.77% of Fund average net assets)** | $10354758 |
| **Portfolio turnover for the reporting period** | 212% |

---

Columbia Convertible Securities Fund \| Institutional 3 Class **\|** ASR134_17_(04/26) \|

## 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

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. 03/15/2032 0.375% | 4.6% |
| Western Digital Corp. 11/15/2028 3.000% | 3.0% |
| Bloom Energy Corp. 11/15/2030 0.000% | 2.6% |
| Boeing Co. (The) 6.000% | 2.5% |
| Live Nation Entertainment, Inc. 01/15/2030 2.875% | 2.3% |
| Bank of America Corp. 7.250% | 2.3% |
| NextEra Energy, Inc. 7.234% | 1.5% |
| Ionis Pharmaceuticals, Inc. 12/01/2030 0.000% | 1.3% |
| Akamai Technologies, Inc. 05/15/2033 0.250% | 1.3% |
| Oracle Corp. 6.500% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Convertible Bonds | 78.2% |
| Convertible Preferred Stocks | 18.0% |
| Money Market Funds | 3.4% |
| Common Stocks | 1.8% |
| Other | 0.6% |

---

## 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](g250382g50k50.jpg)

Columbia Convertible Securities Fund \| Institutional 3 Class **\|** ASR134_17_(04/26) \|

# Columbia Convertible Securities Fund
Institutional Class \| NCIAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Convertible Securities Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $94 | 0.83% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** An underweight allocation to the consumer discretionary sector buoyed relative Fund performance during the annual period.

**Individual holdings \|** Positions in Lumentum, an electrical product manufacturing company, Bloom Energy, a power generation company, and Eos Energy Enterprises, a battery storage solutions company were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the real estate and information technology sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight allocation to the consumer staples sector detracted from relative performance.

**Individual holdings \|** Positions in Rocket Lab USA, an aerospace company, Live Nation Entertainment, an entertainment company, and Coinbase Global, a crypto platform company, were among the top detractors from relative performance during the period.

Columbia Convertible Securities Fund \| Institutional Class **\|** ASR134_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g18l29.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Convertible Securities Fund Institutional Class ($34488)** | **Russell 3000<sup>®</sup> Index ($40728)** | **ICE BofA US Convertible Index ($32767)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10527 | $10704 | $10464 |
| **04/16** | $10720 | $10770 | $10617 |
| **05/16** | $10946 | $10963 | $10798 |
| **06/16** | $11011 | $10986 | $10844 |
| **07/16** | $11512 | $11422 | $11337 |
| **08/16** | $11672 | $11451 | $11369 |
| **09/16** | $11867 | $11469 | $11497 |
| **10/16** | $11631 | $11221 | $11307 |
| **11/16** | $11981 | $11723 | $11565 |
| **12/16** | $12116 | $11952 | $11739 |
| **01/17** | $12483 | $12176 | $12052 |
| **02/17** | $12694 | $12629 | $12282 |
| **03/17** | $12743 | $12638 | $12360 |
| **04/17** | $12873 | $12772 | $12497 |
| **05/17** | $12983 | $12903 | $12584 |
| **06/17** | $13126 | $13019 | $12664 |
| **07/17** | $13464 | $13264 | $12920 |
| **08/17** | $13575 | $13290 | $12968 |
| **09/17** | $13776 | $13614 | $13142 |
| **10/17** | $13943 | $13911 | $13357 |
| **11/17** | $13999 | $14334 | $13373 |
| **12/17** | $13982 | $14477 | $13347 |
| **01/18** | $14473 | $15240 | $13760 |
| **02/18** | $14332 | $14678 | $13605 |
| **03/18** | $14316 | $14384 | $13667 |
| **04/18** | $14281 | $14438 | $13639 |
| **05/18** | $14816 | $14846 | $14123 |
| **06/18** | $14704 | $14943 | $14182 |
| **07/18** | $14859 | $15439 | $14274 |
| **08/18** | $15270 | $15981 | $14776 |
| **09/18** | $15253 | $16008 | $14739 |
| **10/18** | $14362 | $14829 | $13848 |
| **11/18** | $14533 | $15126 | $14024 |
| **12/18** | $13869 | $13718 | $13367 |
| **01/19** | $15036 | $14896 | $14298 |
| **02/19** | $15479 | $15419 | $14738 |
| **03/19** | $15532 | $15645 | $14738 |
| **04/19** | $16007 | $16269 | $15134 |
| **05/19** | $15532 | $15216 | $14638 |
| **06/19** | $16355 | $16285 | $15306 |
| **07/19** | $16536 | $16527 | $15567 |
| **08/19** | $16324 | $16190 | $15375 |
| **09/19** | $16314 | $16475 | $15330 |
| **10/19** | $16496 | $16829 | $15572 |
| **11/19** | $17103 | $17469 | $16063 |
| **12/19** | $17541 | $17973 | $16462 |
| **01/20** | $18046 | $17954 | $16925 |
| **02/20** | $17462 | $16484 | $16447 |
| **03/20** | $15263 | $14217 | $14220 |
| **04/20** | $16893 | $16100 | $15797 |
| **05/20** | $18205 | $16961 | $16863 |
| **06/20** | $19228 | $17349 | $17654 |
| **07/20** | $20636 | $18334 | $18935 |
| **08/20** | $22192 | $19662 | $20557 |
| **09/20** | $21792 | $18946 | $20113 |
| **10/20** | $21668 | $18537 | $19948 |
| **11/20** | $24474 | $20792 | $22485 |
| **12/20** | $26011 | $21728 | $24070 |
| **01/21** | $26867 | $21631 | $24801 |
| **02/21** | $27732 | $22307 | $25564 |
| **03/21** | $26577 | $23107 | $24760 |
| **04/21** | $27288 | $24298 | $25400 |
| **05/21** | $26794 | $24409 | $24971 |
| **06/21** | $27535 | $25010 | $25731 |
| **07/21** | $27207 | $25433 | $25566 |
| **08/21** | $27657 | $26159 | $26041 |
| **09/21** | $27202 | $24985 | $25605 |
| **10/21** | $27878 | $26675 | $26522 |
| **11/21** | $26873 | $26269 | $25581 |
| **12/21** | $27086 | $27303 | $25597 |
| **01/22** | $25131 | $25697 | $23920 |
| **02/22** | $25279 | $25049 | $23927 |
| **03/22** | $25649 | $25862 | $24213 |
| **04/22** | $23730 | $23541 | $22495 |
| **05/22** | $22888 | $23509 | $21768 |
| **06/22** | $21444 | $21543 | $20424 |
| **07/22** | $22729 | $23564 | $21587 |
| **08/22** | $23019 | $22684 | $21784 |
| **09/22** | $21422 | $20581 | $20482 |
| **10/22** | $22096 | $22269 | $21149 |
| **11/22** | $22457 | $23431 | $21483 |
| **12/22** | $21816 | $22059 | $20808 |
| **01/23** | $23164 | $23578 | $22015 |
| **02/23** | $22742 | $23027 | $21731 |
| **03/23** | $22694 | $23643 | $21588 |
| **04/23** | $22399 | $23895 | $21287 |
| **05/23** | $22446 | $23988 | $21475 |
| **06/23** | $23749 | $25626 | $22588 |
| **07/23** | $24297 | $26544 | $23205 |
| **08/23** | $23582 | $26032 | $22604 |
| **09/23** | $22926 | $24792 | $22017 |
| **10/23** | $21704 | $24135 | $21048 |
| **11/23** | $22950 | $26385 | $22144 |
| **12/23** | $24483 | $27785 | $23486 |
| **01/24** | $24327 | $28093 | $23213 |
| **02/24** | $24447 | $29613 | $23491 |
| **03/24** | $24933 | $30569 | $24037 |
| **04/24** | $24180 | $29224 | $23200 |
| **05/24** | $24739 | $30604 | $23765 |
| **06/24** | $25001 | $31552 | $23986 |
| **07/24** | $25465 | $32138 | $24448 |
| **08/24** | $25733 | $32838 | $24768 |
| **09/24** | $26260 | $33517 | $25249 |
| **10/24** | $26260 | $33271 | $25461 |
| **11/24** | $27929 | $35484 | $27185 |
| **12/24** | $26885 | $34400 | $26102 |
| **01/25** | $27724 | $35486 | $26796 |
| **02/25** | $27070 | $34806 | $26261 |
| **03/25** | $26352 | $32775 | $25543 |
| **04/25** | $26427 | $32556 | $25888 |
| **05/25** | $27369 | $34619 | $26731 |
| **06/25** | $28738 | $36378 | $27811 |
| **07/25** | $29598 | $37179 | $28583 |
| **08/25** | $30134 | $38039 | $29081 |
| **09/25** | $31533 | $39352 | $30199 |
| **10/25** | $32847 | $40196 | $31143 |
| **11/25** | $32297 | $40306 | $30924 |
| **12/25** | $32226 | $40298 | $30795 |
| **01/26** | $34086 | $40923 | $32214 |
| **02/26** | $34488 | $40728 | $32767 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 27.40 | 4.46 | 13.18 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| ICE BofA US Convertible Index | 24.77 | 5.09 | 12.60 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1590544812 |
| **Total number of portfolio holdings** | 118 |
| **Management services fees (represents 0.77% of Fund average net assets)** | $10354758 |
| **Portfolio turnover for the reporting period** | 212% |

---

Columbia Convertible Securities Fund \| Institutional Class **\|** ASR134_08_(04/26) \|

## 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

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. 03/15/2032 0.375% | 4.6% |
| Western Digital Corp. 11/15/2028 3.000% | 3.0% |
| Bloom Energy Corp. 11/15/2030 0.000% | 2.6% |
| Boeing Co. (The) 6.000% | 2.5% |
| Live Nation Entertainment, Inc. 01/15/2030 2.875% | 2.3% |
| Bank of America Corp. 7.250% | 2.3% |
| NextEra Energy, Inc. 7.234% | 1.5% |
| Ionis Pharmaceuticals, Inc. 12/01/2030 0.000% | 1.3% |
| Akamai Technologies, Inc. 05/15/2033 0.250% | 1.3% |
| Oracle Corp. 6.500% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Convertible Bonds | 78.2% |
| Convertible Preferred Stocks | 18.0% |
| Money Market Funds | 3.4% |
| Common Stocks | 1.8% |
| Other | 0.6% |

---

## 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](g250382g50k50.jpg)

Columbia Convertible Securities Fund \| Institutional Class **\|** ASR134_08_(04/26) \|

# Columbia Cornerstone Equity Fund
Class A \| NSGAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Cornerstone Equity Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $95 | 0.90% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom, Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from the Fund's relative performance.

Columbia Cornerstone Equity Fund \| Class A **\|** ASR172_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g58t23.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Cornerstone Equity Fund Class A (including sales charges) ($36486)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $9427 | $10000 |
| **03/16** | $10009 | $10678 |
| **04/16** | $10078 | $10720 |
| **05/16** | $10269 | $10912 |
| **06/16** | $10186 | $10941 |
| **07/16** | $10551 | $11344 |
| **08/16** | $10603 | $11360 |
| **09/16** | $10673 | $11362 |
| **10/16** | $10499 | $11155 |
| **11/16** | $10821 | $11568 |
| **12/16** | $10993 | $11797 |
| **01/17** | $11188 | $12020 |
| **02/17** | $11657 | $12498 |
| **03/17** | $11719 | $12512 |
| **04/17** | $11958 | $12641 |
| **05/17** | $12224 | $12818 |
| **06/17** | $12219 | $12898 |
| **07/17** | $12487 | $13164 |
| **08/17** | $12621 | $13204 |
| **09/17** | $12844 | $13476 |
| **10/17** | $13220 | $13791 |
| **11/17** | $13568 | $14214 |
| **12/17** | $13651 | $14372 |
| **01/18** | $14408 | $15195 |
| **02/18** | $13856 | $14635 |
| **03/18** | $13501 | $14263 |
| **04/18** | $13492 | $14317 |
| **05/18** | $13791 | $14662 |
| **06/18** | $13881 | $14753 |
| **07/18** | $14447 | $15302 |
| **08/18** | $14857 | $15800 |
| **09/18** | $14954 | $15890 |
| **10/18** | $13861 | $14804 |
| **11/18** | $14115 | $15106 |
| **12/18** | $12864 | $13742 |
| **01/19** | $13945 | $14843 |
| **02/19** | $14356 | $15320 |
| **03/19** | $14562 | $15617 |
| **04/19** | $15262 | $16250 |
| **05/19** | $14181 | $15217 |
| **06/19** | $15201 | $16289 |
| **07/19** | $15424 | $16523 |
| **08/19** | $14956 | $16262 |
| **09/19** | $15222 | $16566 |
| **10/19** | $15456 | $16925 |
| **11/19** | $16009 | $17539 |
| **12/19** | $16520 | $18069 |
| **01/20** | $16694 | $18061 |
| **02/20** | $15404 | $16575 |
| **03/20** | $13617 | $14527 |
| **04/20** | $15372 | $16390 |
| **05/20** | $16033 | $17170 |
| **06/20** | $16422 | $17512 |
| **07/20** | $17241 | $18499 |
| **08/20** | $18430 | $19829 |
| **09/20** | $17690 | $19076 |
| **10/20** | $17118 | $18568 |
| **11/20** | $18946 | $20601 |
| **12/20** | $19714 | $21393 |
| **01/21** | $19527 | $21177 |
| **02/21** | $20133 | $21761 |
| **03/21** | $21217 | $22714 |
| **04/21** | $22370 | $23926 |
| **05/21** | $22557 | $24093 |
| **06/21** | $23053 | $24656 |
| **07/21** | $23449 | $25241 |
| **08/21** | $24216 | $26009 |
| **09/21** | $22850 | $24799 |
| **10/21** | $24600 | $26537 |
| **11/21** | $24324 | $26353 |
| **12/21** | $25531 | $27534 |
| **01/22** | $24278 | $26109 |
| **02/22** | $23564 | $25327 |
| **03/22** | $24228 | $26268 |
| **04/22** | $22086 | $23977 |
| **05/22** | $22023 | $24021 |
| **06/22** | $20311 | $22038 |
| **07/22** | $21922 | $24070 |
| **08/22** | $21182 | $23089 |
| **09/22** | $19214 | $20962 |
| **10/22** | $20746 | $22659 |
| **11/22** | $21816 | $23926 |
| **12/22** | $20530 | $22547 |
| **01/23** | $21778 | $23964 |
| **02/23** | $21234 | $23379 |
| **03/23** | $22097 | $24238 |
| **04/23** | $22575 | $24616 |
| **05/23** | $22987 | $24723 |
| **06/23** | $24499 | $26357 |
| **07/23** | $25132 | $27203 |
| **08/23** | $24863 | $26770 |
| **09/23** | $23502 | $25494 |
| **10/23** | $23165 | $24958 |
| **11/23** | $25253 | $27237 |
| **12/23** | $26270 | $28474 |
| **01/24** | $26952 | $28953 |
| **02/24** | $28024 | $30499 |
| **03/24** | $28818 | $31480 |
| **04/24** | $27788 | $30194 |
| **05/24** | $29333 | $31692 |
| **06/24** | $30602 | $32829 |
| **07/24** | $30429 | $33228 |
| **08/24** | $31218 | $34034 |
| **09/24** | $31520 | $34761 |
| **10/24** | $31204 | $34446 |
| **11/24** | $33012 | $36468 |
| **12/24** | $32549 | $35599 |
| **01/25** | $33376 | $36590 |
| **02/25** | $32578 | $36113 |
| **03/25** | $30112 | $34078 |
| **04/25** | $29846 | $33847 |
| **05/25** | $31692 | $35977 |
| **06/25** | $33408 | $37807 |
| **07/25** | $34689 | $38655 |
| **08/25** | $35126 | $39439 |
| **09/25** | $35909 | $40878 |
| **10/25** | $36963 | $41835 |
| **11/25** | $37189 | $41938 |
| **12/25** | $37064 | $41964 |
| **01/26** | $37216 | $42572 |
| **02/26** | $36486 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A (excluding sales charges) | 11.99 | 12.63 | 14.49 |
| Class A (including sales charges) | 5.54 | 11.31 | 13.82 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1569593480 |
| **Total number of portfolio holdings** | 58 |
| **Management services fees (represents 0.71% of Fund average net assets)** | $11343116 |
| **Portfolio turnover for the reporting period** | 71% |

---

Columbia Cornerstone Equity Fund \| Class A **\|** ASR172_01_(04/26) \|

## 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 | 30.1% |
| Financials | 14.5% |
| Consumer Discretionary | 12.5% |
| Communication Services | 11.5% |
| Health Care | 10.5% |
| Industrials | 8.8% |
| Utilities | 4.2% |
| Consumer Staples | 4.0% |
| Real Estate | 1.8% |
| Energy | 1.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.8% |
| Alphabet, Inc., Class C | 6.7% |
| Microsoft Corp. | 6.1% |
| Apple, Inc. | 5.1% |
| Amazon.com, Inc. | 4.6% |
| Broadcom, Inc. | 4.1% |
| Meta Platforms, Inc., Class A | 3.2% |
| JPMorgan Chase & Co. | 3.0% |
| Eli Lilly & Co. | 2.4% |
| Citigroup, Inc. | 2.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.2% |
| Other | 0.8% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Select Large Cap Equity Fund to Columbia Cornerstone Equity Fund.

## 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](g250382g50k50.jpg)

Columbia Cornerstone Equity Fund \| Class A **\|** ASR172_01_(04/26) \|

# Columbia Cornerstone Equity Fund
Class C \| NSGCX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Cornerstone Equity Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $174 | 1.65% |

---

## Management's Discussion of Fund Performance
The performance of Class C shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom, Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from the Fund's relative performance.

Columbia Cornerstone Equity Fund \| Class C **\|** ASR172_04_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g01s70.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Cornerstone Equity Fund Class C (including sales charges) ($35897)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10616 | $10678 |
| **04/16** | $10675 | $10720 |
| **05/16** | $10874 | $10912 |
| **06/16** | $10785 | $10941 |
| **07/16** | $11152 | $11344 |
| **08/16** | $11202 | $11360 |
| **09/16** | $11271 | $11362 |
| **10/16** | $11082 | $11155 |
| **11/16** | $11410 | $11568 |
| **12/16** | $11581 | $11797 |
| **01/17** | $11783 | $12020 |
| **02/17** | $12266 | $12498 |
| **03/17** | $12327 | $12512 |
| **04/17** | $12578 | $12641 |
| **05/17** | $12850 | $12818 |
| **06/17** | $12835 | $12898 |
| **07/17** | $13109 | $13164 |
| **08/17** | $13242 | $13204 |
| **09/17** | $13465 | $13476 |
| **10/17** | $13851 | $13791 |
| **11/17** | $14207 | $14214 |
| **12/17** | $14276 | $14372 |
| **01/18** | $15061 | $15195 |
| **02/18** | $14478 | $14635 |
| **03/18** | $14096 | $14263 |
| **04/18** | $14085 | $14317 |
| **05/18** | $14393 | $14662 |
| **06/18** | $14477 | $14753 |
| **07/18** | $15055 | $15302 |
| **08/18** | $15466 | $15800 |
| **09/18** | $15555 | $15890 |
| **10/18** | $14410 | $14804 |
| **11/18** | $14666 | $15106 |
| **12/18** | $13358 | $13742 |
| **01/19** | $14480 | $14843 |
| **02/19** | $14890 | $15320 |
| **03/19** | $15100 | $15617 |
| **04/19** | $15813 | $16250 |
| **05/19** | $14679 | $15217 |
| **06/19** | $15736 | $16289 |
| **07/19** | $15941 | $16523 |
| **08/19** | $15446 | $16262 |
| **09/19** | $15724 | $16566 |
| **10/19** | $15941 | $16925 |
| **11/19** | $16510 | $17539 |
| **12/19** | $17028 | $18069 |
| **01/20** | $17200 | $18061 |
| **02/20** | $15851 | $16575 |
| **03/20** | $14010 | $14527 |
| **04/20** | $15801 | $16390 |
| **05/20** | $16476 | $17170 |
| **06/20** | $16869 | $17512 |
| **07/20** | $17697 | $18499 |
| **08/20** | $18906 | $19829 |
| **09/20** | $18129 | $19076 |
| **10/20** | $17531 | $18568 |
| **11/20** | $19403 | $20601 |
| **12/20** | $20168 | $21393 |
| **01/21** | $19970 | $21177 |
| **02/21** | $20578 | $21761 |
| **03/21** | $21674 | $22714 |
| **04/21** | $22836 | $23926 |
| **05/21** | $23008 | $24093 |
| **06/21** | $23490 | $24656 |
| **07/21** | $23885 | $25241 |
| **08/21** | $24647 | $26009 |
| **09/21** | $23245 | $24799 |
| **10/21** | $25001 | $26537 |
| **11/21** | $24715 | $26353 |
| **12/21** | $25919 | $27534 |
| **01/22** | $24623 | $26109 |
| **02/22** | $23897 | $25327 |
| **03/22** | $24552 | $26268 |
| **04/22** | $22373 | $23977 |
| **05/22** | $22302 | $24021 |
| **06/22** | $20534 | $22038 |
| **07/22** | $22163 | $24070 |
| **08/22** | $21394 | $23089 |
| **09/22** | $19402 | $20962 |
| **10/22** | $20926 | $22659 |
| **11/22** | $21998 | $23926 |
| **12/22** | $20685 | $22547 |
| **01/23** | $21937 | $23964 |
| **02/23** | $21379 | $23379 |
| **03/23** | $22239 | $24238 |
| **04/23** | $22707 | $24616 |
| **05/23** | $23084 | $24723 |
| **06/23** | $24591 | $26357 |
| **07/23** | $25219 | $27203 |
| **08/23** | $24928 | $26770 |
| **09/23** | $23564 | $25494 |
| **10/23** | $23212 | $24958 |
| **11/23** | $25280 | $27237 |
| **12/23** | $26280 | $28474 |
| **01/24** | $26944 | $28953 |
| **02/24** | $27987 | $30499 |
| **03/24** | $28778 | $31480 |
| **04/24** | $27734 | $30194 |
| **05/24** | $29252 | $31692 |
| **06/24** | $30497 | $32829 |
| **07/24** | $30301 | $33228 |
| **08/24** | $31069 | $34034 |
| **09/24** | $31363 | $34761 |
| **10/24** | $31020 | $34446 |
| **11/24** | $32802 | $36468 |
| **12/24** | $32308 | $35599 |
| **01/25** | $33119 | $36590 |
| **02/25** | $32308 | $36113 |
| **03/25** | $29827 | $34078 |
| **04/25** | $29557 | $33847 |
| **05/25** | $31363 | $35977 |
| **06/25** | $33034 | $37807 |
| **07/25** | $34293 | $38655 |
| **08/25** | $34707 | $39439 |
| **09/25** | $35449 | $40878 |
| **10/25** | $36484 | $41835 |
| **11/25** | $36674 | $41938 |
| **12/25** | $36524 | $41964 |
| **01/26** | $36646 | $42572 |
| **02/26** | $35897 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class C (excluding sales charges) | 11.11 | 11.77 | 13.63 |
| Class C (including sales charges) | 10.11 | 11.77 | 13.63 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1569593480 |
| **Total number of portfolio holdings** | 58 |
| **Management services fees (represents 0.71% of Fund average net assets)** | $11343116 |
| **Portfolio turnover for the reporting period** | 71% |

---

Columbia Cornerstone Equity Fund \| Class C **\|** ASR172_04_(04/26) \|

## 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 | 30.1% |
| Financials | 14.5% |
| Consumer Discretionary | 12.5% |
| Communication Services | 11.5% |
| Health Care | 10.5% |
| Industrials | 8.8% |
| Utilities | 4.2% |
| Consumer Staples | 4.0% |
| Real Estate | 1.8% |
| Energy | 1.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.8% |
| Alphabet, Inc., Class C | 6.7% |
| Microsoft Corp. | 6.1% |
| Apple, Inc. | 5.1% |
| Amazon.com, Inc. | 4.6% |
| Broadcom, Inc. | 4.1% |
| Meta Platforms, Inc., Class A | 3.2% |
| JPMorgan Chase & Co. | 3.0% |
| Eli Lilly & Co. | 2.4% |
| Citigroup, Inc. | 2.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.2% |
| Other | 0.8% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Select Large Cap Equity Fund to Columbia Cornerstone Equity Fund.

## 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](g250382g50k50.jpg)

Columbia Cornerstone Equity Fund \| Class C **\|** ASR172_04_(04/26) \|

# Columbia Cornerstone Equity Fund
Class S \| NSEAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Cornerstone Equity Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $69 | 0.65% |

---

## Management's Discussion of Fund Performance
The performance of Class S shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom, Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from the Fund's relative performance.

Columbia Cornerstone Equity Fund \| Class S **\|** ASR172_16_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g30h94.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Cornerstone Equity Fund Class S ($39658)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10612 | $10678 |
| **04/16** | $10686 | $10720 |
| **05/16** | $10891 | $10912 |
| **06/16** | $10815 | $10941 |
| **07/16** | $11196 | $11344 |
| **08/16** | $11251 | $11360 |
| **09/16** | $11326 | $11362 |
| **10/16** | $11149 | $11155 |
| **11/16** | $11493 | $11568 |
| **12/16** | $11672 | $11797 |
| **01/17** | $11890 | $12020 |
| **02/17** | $12383 | $12498 |
| **03/17** | $12459 | $12512 |
| **04/17** | $12715 | $12641 |
| **05/17** | $12999 | $12818 |
| **06/17** | $12998 | $12898 |
| **07/17** | $13286 | $13164 |
| **08/17** | $13439 | $13204 |
| **09/17** | $13668 | $13476 |
| **10/17** | $14071 | $13791 |
| **11/17** | $14444 | $14214 |
| **12/17** | $14541 | $14372 |
| **01/18** | $15354 | $15195 |
| **02/18** | $14762 | $14635 |
| **03/18** | $14390 | $14263 |
| **04/18** | $14390 | $14317 |
| **05/18** | $14712 | $14662 |
| **06/18** | $14804 | $14753 |
| **07/18** | $15412 | $15302 |
| **08/18** | $15852 | $15800 |
| **09/18** | $15957 | $15890 |
| **10/18** | $14793 | $14804 |
| **11/18** | $15066 | $15106 |
| **12/18** | $13742 | $13742 |
| **01/19** | $14894 | $14843 |
| **02/19** | $15337 | $15320 |
| **03/19** | $15559 | $15617 |
| **04/19** | $16313 | $16250 |
| **05/19** | $15160 | $15217 |
| **06/19** | $16253 | $16289 |
| **07/19** | $16493 | $16523 |
| **08/19** | $15989 | $16262 |
| **09/19** | $16287 | $16566 |
| **10/19** | $16528 | $16925 |
| **11/19** | $17135 | $17539 |
| **12/19** | $17687 | $18069 |
| **01/20** | $17874 | $18061 |
| **02/20** | $16494 | $16575 |
| **03/20** | $14576 | $14527 |
| **04/20** | $16471 | $16390 |
| **05/20** | $17184 | $17170 |
| **06/20** | $17600 | $17512 |
| **07/20** | $18485 | $18499 |
| **08/20** | $19770 | $19829 |
| **09/20** | $18970 | $19076 |
| **10/20** | $18364 | $18568 |
| **11/20** | $20328 | $20601 |
| **12/20** | $21160 | $21393 |
| **01/21** | $20958 | $21177 |
| **02/21** | $21614 | $21761 |
| **03/21** | $22788 | $22714 |
| **04/21** | $24024 | $23926 |
| **05/21** | $24226 | $24093 |
| **06/21** | $24760 | $24656 |
| **07/21** | $25201 | $25241 |
| **08/21** | $26033 | $26009 |
| **09/21** | $24565 | $24799 |
| **10/21** | $26448 | $26537 |
| **11/21** | $26163 | $26353 |
| **12/21** | $27458 | $27534 |
| **01/22** | $26111 | $26109 |
| **02/22** | $25349 | $25327 |
| **03/22** | $26084 | $26268 |
| **04/22** | $23784 | $23977 |
| **05/22** | $23730 | $24021 |
| **06/22** | $21866 | $22038 |
| **07/22** | $23617 | $24070 |
| **08/22** | $22828 | $23089 |
| **09/22** | $20717 | $20962 |
| **10/22** | $22354 | $22659 |
| **11/22** | $23517 | $23926 |
| **12/22** | $22137 | $22547 |
| **01/23** | $23497 | $23964 |
| **02/23** | $22904 | $23379 |
| **03/23** | $23859 | $24238 |
| **04/23** | $24365 | $24616 |
| **05/23** | $24814 | $24723 |
| **06/23** | $26441 | $26357 |
| **07/23** | $27146 | $27203 |
| **08/23** | $26852 | $26770 |
| **09/23** | $25398 | $25494 |
| **10/23** | $25046 | $24958 |
| **11/23** | $27308 | $27237 |
| **12/23** | $28398 | $28474 |
| **01/24** | $29144 | $28953 |
| **02/24** | $30300 | $30499 |
| **03/24** | $31167 | $31480 |
| **04/24** | $30071 | $30194 |
| **05/24** | $31745 | $31692 |
| **06/24** | $33128 | $32829 |
| **07/24** | $32955 | $33228 |
| **08/24** | $33818 | $34034 |
| **09/24** | $34147 | $34761 |
| **10/24** | $33818 | $34446 |
| **11/24** | $35779 | $36468 |
| **12/24** | $35287 | $35599 |
| **01/25** | $36193 | $36590 |
| **02/25** | $35336 | $36113 |
| **03/25** | $32650 | $34078 |
| **04/25** | $32375 | $33847 |
| **05/25** | $34381 | $35977 |
| **06/25** | $36259 | $37807 |
| **07/25** | $37646 | $38655 |
| **08/25** | $38142 | $39439 |
| **09/25** | $39000 | $40878 |
| **10/25** | $40156 | $41835 |
| **11/25** | $40404 | $41938 |
| **12/25** | $40276 | $41964 |
| **01/26** | $40444 | $42572 |
| **02/26** | $39658 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class S<sup>Footnote Reference(a)</sup> | 12.23 | 12.91 | 14.77 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to October 2, 2024 (including Since Fund Inception returns, if shown) include the returns of Institutional Class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1569593480 |
| **Total number of portfolio holdings** | 58 |
| **Management services fees (represents 0.71% of Fund average net assets)** | $11343116 |
| **Portfolio turnover for the reporting period** | 71% |

---

Columbia Cornerstone Equity Fund \| Class S **\|** ASR172_16_(04/26) \|

## 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 | 30.1% |
| Financials | 14.5% |
| Consumer Discretionary | 12.5% |
| Communication Services | 11.5% |
| Health Care | 10.5% |
| Industrials | 8.8% |
| Utilities | 4.2% |
| Consumer Staples | 4.0% |
| Real Estate | 1.8% |
| Energy | 1.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.8% |
| Alphabet, Inc., Class C | 6.7% |
| Microsoft Corp. | 6.1% |
| Apple, Inc. | 5.1% |
| Amazon.com, Inc. | 4.6% |
| Broadcom, Inc. | 4.1% |
| Meta Platforms, Inc., Class A | 3.2% |
| JPMorgan Chase & Co. | 3.0% |
| Eli Lilly & Co. | 2.4% |
| Citigroup, Inc. | 2.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.2% |
| Other | 0.8% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Select Large Cap Equity Fund to Columbia Cornerstone Equity Fund.

## 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](g250382g50k50.jpg)

Columbia Cornerstone Equity Fund \| Class S **\|** ASR172_16_(04/26) \|

# Columbia Cornerstone Equity Fund
Institutional 2 Class \| CLCRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Cornerstone Equity Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $63 | 0.59% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom, Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from the Fund's relative performance.

Columbia Cornerstone Equity Fund \| Institutional 2 Class **\|** ASR172_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g18o84.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Cornerstone Equity Fund Institutional 2 Class ($39970)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10624 | $10678 |
| **04/16** | $10697 | $10720 |
| **05/16** | $10905 | $10912 |
| **06/16** | $10824 | $10941 |
| **07/16** | $11213 | $11344 |
| **08/16** | $11268 | $11360 |
| **09/16** | $11340 | $11362 |
| **10/16** | $11168 | $11155 |
| **11/16** | $11512 | $11568 |
| **12/16** | $11696 | $11797 |
| **01/17** | $11909 | $12020 |
| **02/17** | $12409 | $12498 |
| **03/17** | $12473 | $12512 |
| **04/17** | $12742 | $12641 |
| **05/17** | $13029 | $12818 |
| **06/17** | $13020 | $12898 |
| **07/17** | $13310 | $13164 |
| **08/17** | $13459 | $13204 |
| **09/17** | $13693 | $13476 |
| **10/17** | $14094 | $13791 |
| **11/17** | $14468 | $14214 |
| **12/17** | $14560 | $14372 |
| **01/18** | $15381 | $15195 |
| **02/18** | $14785 | $14635 |
| **03/18** | $14413 | $14263 |
| **04/18** | $14413 | $14317 |
| **05/18** | $14736 | $14662 |
| **06/18** | $14837 | $14753 |
| **07/18** | $15450 | $15302 |
| **08/18** | $15889 | $15800 |
| **09/18** | $15991 | $15890 |
| **10/18** | $14827 | $14804 |
| **11/18** | $15103 | $15106 |
| **12/18** | $13770 | $13742 |
| **01/19** | $14935 | $14843 |
| **02/19** | $15377 | $15320 |
| **03/19** | $15603 | $15617 |
| **04/19** | $16358 | $16250 |
| **05/19** | $15204 | $15217 |
| **06/19** | $16302 | $16289 |
| **07/19** | $16547 | $16523 |
| **08/19** | $16046 | $16262 |
| **09/19** | $16335 | $16566 |
| **10/19** | $16591 | $16925 |
| **11/19** | $17192 | $17539 |
| **12/19** | $17741 | $18069 |
| **01/20** | $17934 | $18061 |
| **02/20** | $16547 | $16575 |
| **03/20** | $14636 | $14527 |
| **04/20** | $16524 | $16390 |
| **05/20** | $17252 | $17170 |
| **06/20** | $17670 | $17512 |
| **07/20** | $18553 | $18499 |
| **08/20** | $19848 | $19829 |
| **09/20** | $19048 | $19076 |
| **10/20** | $18435 | $18568 |
| **11/20** | $20413 | $20601 |
| **12/20** | $21257 | $21393 |
| **01/21** | $21061 | $21177 |
| **02/21** | $21710 | $21761 |
| **03/21** | $22885 | $22714 |
| **04/21** | $24147 | $23926 |
| **05/21** | $24355 | $24093 |
| **06/21** | $24888 | $24656 |
| **07/21** | $25328 | $25241 |
| **08/21** | $26160 | $26009 |
| **09/21** | $24686 | $24799 |
| **10/21** | $26575 | $26537 |
| **11/21** | $26298 | $26353 |
| **12/21** | $27607 | $27534 |
| **01/22** | $26250 | $26109 |
| **02/22** | $25498 | $25327 |
| **03/22** | $26223 | $26268 |
| **04/22** | $23917 | $23977 |
| **05/22** | $23851 | $24021 |
| **06/22** | $21997 | $22038 |
| **07/22** | $23745 | $24070 |
| **08/22** | $22954 | $23089 |
| **09/22** | $20831 | $20962 |
| **10/22** | $22496 | $22659 |
| **11/22** | $23662 | $23926 |
| **12/22** | $22258 | $22547 |
| **01/23** | $23629 | $23964 |
| **02/23** | $23041 | $23379 |
| **03/23** | $23993 | $24238 |
| **04/23** | $24524 | $24616 |
| **05/23** | $24958 | $24723 |
| **06/23** | $26604 | $26357 |
| **07/23** | $27314 | $27203 |
| **08/23** | $27030 | $26770 |
| **09/23** | $25554 | $25494 |
| **10/23** | $25199 | $24958 |
| **11/23** | $27484 | $27237 |
| **12/23** | $28579 | $28474 |
| **01/24** | $29343 | $28953 |
| **02/24** | $30503 | $30499 |
| **03/24** | $31384 | $31480 |
| **04/24** | $30268 | $30194 |
| **05/24** | $31957 | $31692 |
| **06/24** | $33354 | $32829 |
| **07/24** | $33173 | $33228 |
| **08/24** | $34050 | $34034 |
| **09/24** | $34383 | $34761 |
| **10/24** | $34050 | $34446 |
| **11/24** | $36032 | $36468 |
| **12/24** | $35533 | $35599 |
| **01/25** | $36453 | $36590 |
| **02/25** | $35580 | $36113 |
| **03/25** | $32883 | $34078 |
| **04/25** | $32618 | $33847 |
| **05/25** | $34645 | $35977 |
| **06/25** | $36521 | $37807 |
| **07/25** | $37936 | $38655 |
| **08/25** | $38429 | $39439 |
| **09/25** | $39287 | $40878 |
| **10/25** | $40464 | $41835 |
| **11/25** | $40718 | $41938 |
| **12/25** | $40582 | $41964 |
| **01/26** | $40759 | $42572 |
| **02/26** | $39970 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 12.34 | 12.98 | 14.86 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1569593480 |
| **Total number of portfolio holdings** | 58 |
| **Management services fees (represents 0.71% of Fund average net assets)** | $11343116 |
| **Portfolio turnover for the reporting period** | 71% |

---

Columbia Cornerstone Equity Fund \| Institutional 2 Class **\|** ASR172_15_(04/26) \|

## 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 | 30.1% |
| Financials | 14.5% |
| Consumer Discretionary | 12.5% |
| Communication Services | 11.5% |
| Health Care | 10.5% |
| Industrials | 8.8% |
| Utilities | 4.2% |
| Consumer Staples | 4.0% |
| Real Estate | 1.8% |
| Energy | 1.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.8% |
| Alphabet, Inc., Class C | 6.7% |
| Microsoft Corp. | 6.1% |
| Apple, Inc. | 5.1% |
| Amazon.com, Inc. | 4.6% |
| Broadcom, Inc. | 4.1% |
| Meta Platforms, Inc., Class A | 3.2% |
| JPMorgan Chase & Co. | 3.0% |
| Eli Lilly & Co. | 2.4% |
| Citigroup, Inc. | 2.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.2% |
| Other | 0.8% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Select Large Cap Equity Fund to Columbia Cornerstone Equity Fund.

## 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](g250382g50k50.jpg)

Columbia Cornerstone Equity Fund \| Institutional 2 Class **\|** ASR172_15_(04/26) \|

# Columbia Cornerstone Equity Fund
Institutional 3 Class \| CLEYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Cornerstone Equity Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $57 | 0.54% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom, Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from the Fund's relative performance.

Columbia Cornerstone Equity Fund \| Institutional 3 Class **\|** ASR172_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g15a80.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Cornerstone Equity Fund Institutional 3 Class ($40085)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10612 | $10678 |
| **04/16** | $10686 | $10720 |
| **05/16** | $10891 | $10912 |
| **06/16** | $10815 | $10941 |
| **07/16** | $11196 | $11344 |
| **08/16** | $11251 | $11360 |
| **09/16** | $11326 | $11362 |
| **10/16** | $11149 | $11155 |
| **11/16** | $11493 | $11568 |
| **12/16** | $11672 | $11797 |
| **01/17** | $11890 | $12020 |
| **02/17** | $12383 | $12498 |
| **03/17** | $12458 | $12512 |
| **04/17** | $12717 | $12641 |
| **05/17** | $13015 | $12818 |
| **06/17** | $13007 | $12898 |
| **07/17** | $13298 | $13164 |
| **08/17** | $13443 | $13204 |
| **09/17** | $13676 | $13476 |
| **10/17** | $14083 | $13791 |
| **11/17** | $14462 | $14214 |
| **12/17** | $14555 | $14372 |
| **01/18** | $15369 | $15195 |
| **02/18** | $14779 | $14635 |
| **03/18** | $14412 | $14263 |
| **04/18** | $14412 | $14317 |
| **05/18** | $14728 | $14662 |
| **06/18** | $14834 | $14753 |
| **07/18** | $15441 | $15302 |
| **08/18** | $15878 | $15800 |
| **09/18** | $15985 | $15890 |
| **10/18** | $14824 | $14804 |
| **11/18** | $15101 | $15106 |
| **12/18** | $13771 | $13742 |
| **01/19** | $14932 | $14843 |
| **02/19** | $15372 | $15320 |
| **03/19** | $15598 | $15617 |
| **04/19** | $16353 | $16250 |
| **05/19** | $15203 | $15217 |
| **06/19** | $16307 | $16289 |
| **07/19** | $16540 | $16523 |
| **08/19** | $16038 | $16262 |
| **09/19** | $16342 | $16566 |
| **10/19** | $16587 | $16925 |
| **11/19** | $17193 | $17539 |
| **12/19** | $17752 | $18069 |
| **01/20** | $17943 | $18061 |
| **02/20** | $16559 | $16575 |
| **03/20** | $14638 | $14527 |
| **04/20** | $16535 | $16390 |
| **05/20** | $17251 | $17170 |
| **06/20** | $17679 | $17512 |
| **07/20** | $18557 | $18499 |
| **08/20** | $19856 | $19829 |
| **09/20** | $19052 | $19076 |
| **10/20** | $18446 | $18568 |
| **11/20** | $20426 | $20601 |
| **12/20** | $21258 | $21393 |
| **01/21** | $21064 | $21177 |
| **02/21** | $21735 | $21761 |
| **03/21** | $22909 | $22714 |
| **04/21** | $24160 | $23926 |
| **05/21** | $24367 | $24093 |
| **06/21** | $24904 | $24656 |
| **07/21** | $25342 | $25241 |
| **08/21** | $26180 | $26009 |
| **09/21** | $24705 | $24799 |
| **10/21** | $26605 | $26537 |
| **11/21** | $26326 | $26353 |
| **12/21** | $27637 | $27534 |
| **01/22** | $26285 | $26109 |
| **02/22** | $25518 | $25327 |
| **03/22** | $26257 | $26268 |
| **04/22** | $23942 | $23977 |
| **05/22** | $23886 | $24021 |
| **06/22** | $22023 | $22038 |
| **07/22** | $23777 | $24070 |
| **08/22** | $22981 | $23089 |
| **09/22** | $20860 | $20962 |
| **10/22** | $22524 | $22659 |
| **11/22** | $23688 | $23926 |
| **12/22** | $22296 | $22547 |
| **01/23** | $23663 | $23964 |
| **02/23** | $23084 | $23379 |
| **03/23** | $24035 | $24238 |
| **04/23** | $24555 | $24616 |
| **05/23** | $25001 | $24723 |
| **06/23** | $26663 | $26357 |
| **07/23** | $27373 | $27203 |
| **08/23** | $27071 | $26770 |
| **09/23** | $25606 | $25494 |
| **10/23** | $25259 | $24958 |
| **11/23** | $27539 | $27237 |
| **12/23** | $28639 | $28474 |
| **01/24** | $29406 | $28953 |
| **02/24** | $30565 | $30499 |
| **03/24** | $31442 | $31480 |
| **04/24** | $30346 | $30194 |
| **05/24** | $32037 | $31692 |
| **06/24** | $33419 | $32829 |
| **07/24** | $33258 | $33228 |
| **08/24** | $34130 | $34034 |
| **09/24** | $34470 | $34761 |
| **10/24** | $34130 | $34446 |
| **11/24** | $36118 | $36468 |
| **12/24** | $35615 | $35599 |
| **01/25** | $36533 | $36590 |
| **02/25** | $35682 | $36113 |
| **03/25** | $32977 | $34078 |
| **04/25** | $32710 | $33847 |
| **05/25** | $34730 | $35977 |
| **06/25** | $36626 | $37807 |
| **07/25** | $38041 | $38655 |
| **08/25** | $38536 | $39439 |
| **09/25** | $39405 | $40878 |
| **10/25** | $40582 | $41835 |
| **11/25** | $40838 | $41938 |
| **12/25** | $40707 | $41964 |
| **01/26** | $40879 | $42572 |
| **02/26** | $40085 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class<sup>Footnote Reference(a)</sup> | 12.34 | 13.02 | 14.89 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to March 1, 2017 (including Since Fund Inception returns, if shown) include the returns of Institutional Class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1569593480 |
| **Total number of portfolio holdings** | 58 |
| **Management services fees (represents 0.71% of Fund average net assets)** | $11343116 |
| **Portfolio turnover for the reporting period** | 71% |

---

Columbia Cornerstone Equity Fund \| Institutional 3 Class **\|** ASR172_17_(04/26) \|

## 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 | 30.1% |
| Financials | 14.5% |
| Consumer Discretionary | 12.5% |
| Communication Services | 11.5% |
| Health Care | 10.5% |
| Industrials | 8.8% |
| Utilities | 4.2% |
| Consumer Staples | 4.0% |
| Real Estate | 1.8% |
| Energy | 1.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.8% |
| Alphabet, Inc., Class C | 6.7% |
| Microsoft Corp. | 6.1% |
| Apple, Inc. | 5.1% |
| Amazon.com, Inc. | 4.6% |
| Broadcom, Inc. | 4.1% |
| Meta Platforms, Inc., Class A | 3.2% |
| JPMorgan Chase & Co. | 3.0% |
| Eli Lilly & Co. | 2.4% |
| Citigroup, Inc. | 2.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.2% |
| Other | 0.8% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Select Large Cap Equity Fund to Columbia Cornerstone Equity Fund.

## 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](g250382g50k50.jpg)

Columbia Cornerstone Equity Fund \| Institutional 3 Class **\|** ASR172_17_(04/26) \|

# Columbia Cornerstone Equity Fund
Institutional Class \| NSEPX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Cornerstone Equity Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $69 | 0.65% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom, Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from the Fund's relative performance.

Columbia Cornerstone Equity Fund \| Institutional Class **\|** ASR172_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g46e51.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Cornerstone Equity Fund Institutional Class ($39650)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10612 | $10678 |
| **04/16** | $10686 | $10720 |
| **05/16** | $10891 | $10912 |
| **06/16** | $10815 | $10941 |
| **07/16** | $11196 | $11344 |
| **08/16** | $11251 | $11360 |
| **09/16** | $11326 | $11362 |
| **10/16** | $11149 | $11155 |
| **11/16** | $11493 | $11568 |
| **12/16** | $11672 | $11797 |
| **01/17** | $11890 | $12020 |
| **02/17** | $12383 | $12498 |
| **03/17** | $12459 | $12512 |
| **04/17** | $12715 | $12641 |
| **05/17** | $12999 | $12818 |
| **06/17** | $12998 | $12898 |
| **07/17** | $13286 | $13164 |
| **08/17** | $13439 | $13204 |
| **09/17** | $13668 | $13476 |
| **10/17** | $14071 | $13791 |
| **11/17** | $14444 | $14214 |
| **12/17** | $14541 | $14372 |
| **01/18** | $15354 | $15195 |
| **02/18** | $14762 | $14635 |
| **03/18** | $14390 | $14263 |
| **04/18** | $14390 | $14317 |
| **05/18** | $14712 | $14662 |
| **06/18** | $14804 | $14753 |
| **07/18** | $15412 | $15302 |
| **08/18** | $15852 | $15800 |
| **09/18** | $15957 | $15890 |
| **10/18** | $14793 | $14804 |
| **11/18** | $15066 | $15106 |
| **12/18** | $13742 | $13742 |
| **01/19** | $14894 | $14843 |
| **02/19** | $15337 | $15320 |
| **03/19** | $15559 | $15617 |
| **04/19** | $16313 | $16250 |
| **05/19** | $15160 | $15217 |
| **06/19** | $16253 | $16289 |
| **07/19** | $16493 | $16523 |
| **08/19** | $15989 | $16262 |
| **09/19** | $16287 | $16566 |
| **10/19** | $16528 | $16925 |
| **11/19** | $17135 | $17539 |
| **12/19** | $17687 | $18069 |
| **01/20** | $17874 | $18061 |
| **02/20** | $16494 | $16575 |
| **03/20** | $14576 | $14527 |
| **04/20** | $16471 | $16390 |
| **05/20** | $17184 | $17170 |
| **06/20** | $17600 | $17512 |
| **07/20** | $18485 | $18499 |
| **08/20** | $19770 | $19829 |
| **09/20** | $18970 | $19076 |
| **10/20** | $18364 | $18568 |
| **11/20** | $20328 | $20601 |
| **12/20** | $21160 | $21393 |
| **01/21** | $20958 | $21177 |
| **02/21** | $21614 | $21761 |
| **03/21** | $22788 | $22714 |
| **04/21** | $24024 | $23926 |
| **05/21** | $24226 | $24093 |
| **06/21** | $24760 | $24656 |
| **07/21** | $25201 | $25241 |
| **08/21** | $26033 | $26009 |
| **09/21** | $24565 | $24799 |
| **10/21** | $26448 | $26537 |
| **11/21** | $26163 | $26353 |
| **12/21** | $27458 | $27534 |
| **01/22** | $26111 | $26109 |
| **02/22** | $25349 | $25327 |
| **03/22** | $26084 | $26268 |
| **04/22** | $23784 | $23977 |
| **05/22** | $23730 | $24021 |
| **06/22** | $21866 | $22038 |
| **07/22** | $23617 | $24070 |
| **08/22** | $22828 | $23089 |
| **09/22** | $20717 | $20962 |
| **10/22** | $22354 | $22659 |
| **11/22** | $23517 | $23926 |
| **12/22** | $22137 | $22547 |
| **01/23** | $23497 | $23964 |
| **02/23** | $22904 | $23379 |
| **03/23** | $23859 | $24238 |
| **04/23** | $24365 | $24616 |
| **05/23** | $24814 | $24723 |
| **06/23** | $26441 | $26357 |
| **07/23** | $27146 | $27203 |
| **08/23** | $26852 | $26770 |
| **09/23** | $25398 | $25494 |
| **10/23** | $25046 | $24958 |
| **11/23** | $27308 | $27237 |
| **12/23** | $28398 | $28474 |
| **01/24** | $29144 | $28953 |
| **02/24** | $30300 | $30499 |
| **03/24** | $31167 | $31480 |
| **04/24** | $30071 | $30194 |
| **05/24** | $31745 | $31692 |
| **06/24** | $33128 | $32829 |
| **07/24** | $32955 | $33228 |
| **08/24** | $33818 | $34034 |
| **09/24** | $34147 | $34761 |
| **10/24** | $33802 | $34446 |
| **11/24** | $35779 | $36468 |
| **12/24** | $35277 | $35599 |
| **01/25** | $36183 | $36590 |
| **02/25** | $35325 | $36113 |
| **03/25** | $32655 | $34078 |
| **04/25** | $32380 | $33847 |
| **05/25** | $34387 | $35977 |
| **06/25** | $36250 | $37807 |
| **07/25** | $37654 | $38655 |
| **08/25** | $38133 | $39439 |
| **09/25** | $38992 | $40878 |
| **10/25** | $40148 | $41835 |
| **11/25** | $40395 | $41938 |
| **12/25** | $40268 | $41964 |
| **01/26** | $40452 | $42572 |
| **02/26** | $39650 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 12.24 | 12.90 | 14.77 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1569593480 |
| **Total number of portfolio holdings** | 58 |
| **Management services fees (represents 0.71% of Fund average net assets)** | $11343116 |
| **Portfolio turnover for the reporting period** | 71% |

---

Columbia Cornerstone Equity Fund \| Institutional Class **\|** ASR172_08_(04/26) \|

## 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 | 30.1% |
| Financials | 14.5% |
| Consumer Discretionary | 12.5% |
| Communication Services | 11.5% |
| Health Care | 10.5% |
| Industrials | 8.8% |
| Utilities | 4.2% |
| Consumer Staples | 4.0% |
| Real Estate | 1.8% |
| Energy | 1.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.8% |
| Alphabet, Inc., Class C | 6.7% |
| Microsoft Corp. | 6.1% |
| Apple, Inc. | 5.1% |
| Amazon.com, Inc. | 4.6% |
| Broadcom, Inc. | 4.1% |
| Meta Platforms, Inc., Class A | 3.2% |
| JPMorgan Chase & Co. | 3.0% |
| Eli Lilly & Co. | 2.4% |
| Citigroup, Inc. | 2.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.2% |
| Other | 0.8% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Select Large Cap Equity Fund to Columbia Cornerstone Equity Fund.

## 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](g250382g50k50.jpg)

Columbia Cornerstone Equity Fund \| Institutional Class **\|** ASR172_08_(04/26) \|

# Columbia Large Cap Enhanced Core Fund
Class A \| NMIAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Enhanced Core Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $90 | 0.83% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care, financials and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** Overweight allocations to oil and gas companies and interactive media and an underweight allocation to insurance companies aided the Fund's relative performance during the period.

**Individual holdings** \| Positions in Lam Research, a firm that designs and manufactures semiconductors; Viatris, a global health care company; and Newmont Corporation, an exploration and mining company, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the industrials, information technology and consumer staples sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Overweight allocations in the aerospace and defense and specialized REITs industries and an underweight allocation in the semiconductors industry detracted from the Fund's relative results during the period.

**Individual holdings \|** The Fund's underweight position in Micron, a memory and storage solutions company; an overweight position in ServiceNow, a firm that provides a workflow platform for digital businesses; and an overweight in Adobe, a global technology company focused on digital marketing and media solutions, were top detractors from the Fund's relative performance during the period.

Columbia Large Cap Enhanced Core Fund \| Class A **\|** ASR173_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g48l71.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Enhanced Core Fund Class A ($39275)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10645 | $10678 |
| **04/16** | $10620 | $10720 |
| **05/16** | $10767 | $10912 |
| **06/16** | $10761 | $10941 |
| **07/16** | $11168 | $11344 |
| **08/16** | $11173 | $11360 |
| **09/16** | $11209 | $11362 |
| **10/16** | $11031 | $11155 |
| **11/16** | $11448 | $11568 |
| **12/16** | $11628 | $11797 |
| **01/17** | $11752 | $12020 |
| **02/17** | $12262 | $12498 |
| **03/17** | $12308 | $12512 |
| **04/17** | $12447 | $12641 |
| **05/17** | $12591 | $12818 |
| **06/17** | $12703 | $12898 |
| **07/17** | $13024 | $13164 |
| **08/17** | $13115 | $13204 |
| **09/17** | $13420 | $13476 |
| **10/17** | $13693 | $13791 |
| **11/17** | $14229 | $14214 |
| **12/17** | $14433 | $14372 |
| **01/18** | $15252 | $15195 |
| **02/18** | $14690 | $14635 |
| **03/18** | $14369 | $14263 |
| **04/18** | $14421 | $14317 |
| **05/18** | $14778 | $14662 |
| **06/18** | $14783 | $14753 |
| **07/18** | $15394 | $15302 |
| **08/18** | $15859 | $15800 |
| **09/18** | $15969 | $15890 |
| **10/18** | $14880 | $14804 |
| **11/18** | $15076 | $15106 |
| **12/18** | $13698 | $13742 |
| **01/19** | $14811 | $14843 |
| **02/19** | $15298 | $15320 |
| **03/19** | $15435 | $15617 |
| **04/19** | $15936 | $16250 |
| **05/19** | $14674 | $15217 |
| **06/19** | $15726 | $16289 |
| **07/19** | $15878 | $16523 |
| **08/19** | $15409 | $16262 |
| **09/19** | $15766 | $16566 |
| **10/19** | $16103 | $16925 |
| **11/19** | $16698 | $17539 |
| **12/19** | $17192 | $18069 |
| **01/20** | $17151 | $18061 |
| **02/20** | $15654 | $16575 |
| **03/20** | $13683 | $14527 |
| **04/20** | $15519 | $16390 |
| **05/20** | $16311 | $17170 |
| **06/20** | $16626 | $17512 |
| **07/20** | $17428 | $18499 |
| **08/20** | $18667 | $19829 |
| **09/20** | $17851 | $19076 |
| **10/20** | $17348 | $18568 |
| **11/20** | $19082 | $20601 |
| **12/20** | $19806 | $21393 |
| **01/21** | $19799 | $21177 |
| **02/21** | $20277 | $21761 |
| **03/21** | $21350 | $22714 |
| **04/21** | $22402 | $23926 |
| **05/21** | $22622 | $24093 |
| **06/21** | $23093 | $24656 |
| **07/21** | $23714 | $25241 |
| **08/21** | $24591 | $26009 |
| **09/21** | $23225 | $24799 |
| **10/21** | $24653 | $26537 |
| **11/21** | $24622 | $26353 |
| **12/21** | $25965 | $27534 |
| **01/22** | $24913 | $26109 |
| **02/22** | $24364 | $25327 |
| **03/22** | $25027 | $26268 |
| **04/22** | $23170 | $23977 |
| **05/22** | $23255 | $24021 |
| **06/22** | $21194 | $22038 |
| **07/22** | $22993 | $24070 |
| **08/22** | $22088 | $23089 |
| **09/22** | $20068 | $20962 |
| **10/22** | $21656 | $22659 |
| **11/22** | $22893 | $23926 |
| **12/22** | $21494 | $22547 |
| **01/23** | $22906 | $23964 |
| **02/23** | $22453 | $23379 |
| **03/23** | $23267 | $24238 |
| **04/23** | $23555 | $24616 |
| **05/23** | $23545 | $24723 |
| **06/23** | $25121 | $26357 |
| **07/23** | $26010 | $27203 |
| **08/23** | $25571 | $26770 |
| **09/23** | $24483 | $25494 |
| **10/23** | $23908 | $24958 |
| **11/23** | $25947 | $27237 |
| **12/23** | $27060 | $28474 |
| **01/24** | $27622 | $28953 |
| **02/24** | $29059 | $30499 |
| **03/24** | $30074 | $31480 |
| **04/24** | $28594 | $30194 |
| **05/24** | $30042 | $31692 |
| **06/24** | $31202 | $32829 |
| **07/24** | $31653 | $33228 |
| **08/24** | $32318 | $34034 |
| **09/24** | $32950 | $34761 |
| **10/24** | $32882 | $34446 |
| **11/24** | $34732 | $36468 |
| **12/24** | $33901 | $35599 |
| **01/25** | $34660 | $36590 |
| **02/25** | $33926 | $36113 |
| **03/25** | $31991 | $34078 |
| **04/25** | $31587 | $33847 |
| **05/25** | $33448 | $35977 |
| **06/25** | $35035 | $37807 |
| **07/25** | $35968 | $38655 |
| **08/25** | $36938 | $39439 |
| **09/25** | $38136 | $40878 |
| **10/25** | $39044 | $41835 |
| **11/25** | $39094 | $41938 |
| **12/25** | $39539 | $41964 |
| **01/26** | $39830 | $42572 |
| **02/26** | $39275 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A | 15.77 | 14.14 | 14.66 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $440592353 |
| **Total number of portfolio holdings** | 102 |
| **Management services fees (represents 0.75% of Fund average net assets)** | $3605133 |
| **Portfolio turnover for the reporting period** | 72% |

---

Columbia Large Cap Enhanced Core Fund \| Class A **\|** ASR173_01_(04/26) \|

## 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 | 32.3% |
| Financials | 12.0% |
| Health Care | 10.3% |
| Communication Services | 9.9% |
| Consumer Discretionary | 9.7% |
| Industrials | 8.7% |
| Consumer Staples | 5.1% |
| Energy | 3.9% |
| Utilities | 2.9% |
| Real Estate | 1.9% |
| Other | 1.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.9% |
| Apple, Inc. | 6.8% |
| Alphabet, Inc., Class A | 6.1% |
| Microsoft Corp. | 4.7% |
| Amazon.com, Inc. | 3.4% |
| Meta Platforms, Inc., Class A | 3.2% |
| Broadcom, Inc. | 2.8% |
| Exxon Mobil Corp. | 1.8% |
| Tesla, Inc. | 1.4% |
| Procter & Gamble Co. (The) | 1.4% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.5% |

---

## 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](g250382g50k50.jpg)

Columbia Large Cap Enhanced Core Fund \| Class A **\|** ASR173_01_(04/26) \|

# Columbia Large Cap Enhanced Core Fund
Class R \| CCERX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Enhanced Core Fund (the Fund) for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class R | $116 | 1.08% |

---

## Management's Discussion of Fund Performance
The performance of Class R shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care, financials and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** Overweight allocations to oil and gas companies and interactive media and an underweight allocation to insurance companies aided the Fund's relative performance during the period.

**Individual holdings** \| Positions in Lam Research, a firm that designs and manufactures semiconductors; Viatris, a global health care company; and Newmont Corporation, an exploration and mining company, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the industrials, information technology and consumer staples sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Overweight allocations in the aerospace and defense and specialized REITs industries and an underweight allocation in the semiconductors industry detracted from the Fund's relative results during the period.

**Individual holdings \|** The Fund's underweight position in Micron, a memory and storage solutions company; an overweight position in ServiceNow, a firm that provides a workflow platform for digital businesses; and an overweight in Adobe, a global technology company focused on digital marketing and media solutions, were top detractors from the Fund's relative performance during the period.

Columbia Large Cap Enhanced Core Fund \| Class R **\|** ASR173_12_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g25l24.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Enhanced Core Fund Class R ($38319)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10641 | $10678 |
| **04/16** | $10615 | $10720 |
| **05/16** | $10763 | $10912 |
| **06/16** | $10758 | $10941 |
| **07/16** | $11156 | $11344 |
| **08/16** | $11166 | $11360 |
| **09/16** | $11196 | $11362 |
| **10/16** | $11018 | $11155 |
| **11/16** | $11426 | $11568 |
| **12/16** | $11608 | $11797 |
| **01/17** | $11727 | $12020 |
| **02/17** | $12236 | $12498 |
| **03/17** | $12277 | $12512 |
| **04/17** | $12416 | $12641 |
| **05/17** | $12555 | $12818 |
| **06/17** | $12667 | $12898 |
| **07/17** | $12983 | $13164 |
| **08/17** | $13068 | $13204 |
| **09/17** | $13368 | $13476 |
| **10/17** | $13640 | $13791 |
| **11/17** | $14170 | $14214 |
| **12/17** | $14367 | $14372 |
| **01/18** | $15183 | $15195 |
| **02/18** | $14624 | $14635 |
| **03/18** | $14297 | $14263 |
| **04/18** | $14344 | $14317 |
| **05/18** | $14699 | $14662 |
| **06/18** | $14704 | $14753 |
| **07/18** | $15307 | $15302 |
| **08/18** | $15764 | $15800 |
| **09/18** | $15868 | $15890 |
| **10/18** | $14789 | $14804 |
| **11/18** | $14972 | $15106 |
| **12/18** | $13606 | $13742 |
| **01/19** | $14712 | $14843 |
| **02/19** | $15191 | $15320 |
| **03/19** | $15320 | $15617 |
| **04/19** | $15812 | $16250 |
| **05/19** | $14557 | $15217 |
| **06/19** | $15597 | $16289 |
| **07/19** | $15748 | $16523 |
| **08/19** | $15275 | $16262 |
| **09/19** | $15630 | $16566 |
| **10/19** | $15965 | $16925 |
| **11/19** | $16544 | $17539 |
| **12/19** | $17028 | $18069 |
| **01/20** | $16987 | $18061 |
| **02/20** | $15501 | $16575 |
| **03/20** | $13544 | $14527 |
| **04/20** | $15360 | $16390 |
| **05/20** | $16147 | $17170 |
| **06/20** | $16452 | $17512 |
| **07/20** | $17240 | $18499 |
| **08/20** | $18462 | $19829 |
| **09/20** | $17652 | $19076 |
| **10/20** | $17146 | $18568 |
| **11/20** | $18860 | $20601 |
| **12/20** | $19572 | $21393 |
| **01/21** | $19557 | $21177 |
| **02/21** | $20030 | $21761 |
| **03/21** | $21087 | $22714 |
| **04/21** | $22121 | $23926 |
| **05/21** | $22332 | $24093 |
| **06/21** | $22797 | $24656 |
| **07/21** | $23405 | $25241 |
| **08/21** | $24266 | $26009 |
| **09/21** | $22913 | $24799 |
| **10/21** | $24312 | $26537 |
| **11/21** | $24274 | $26353 |
| **12/21** | $25591 | $27534 |
| **01/22** | $24560 | $26109 |
| **02/22** | $24007 | $25327 |
| **03/22** | $24663 | $26268 |
| **04/22** | $22826 | $23977 |
| **05/22** | $22901 | $24021 |
| **06/22** | $20871 | $22038 |
| **07/22** | $22641 | $24070 |
| **08/22** | $21736 | $23089 |
| **09/22** | $19737 | $20962 |
| **10/22** | $21298 | $22659 |
| **11/22** | $22521 | $23926 |
| **12/22** | $21132 | $22547 |
| **01/23** | $22525 | $23964 |
| **02/23** | $22068 | $23379 |
| **03/23** | $22871 | $24238 |
| **04/23** | $23146 | $24616 |
| **05/23** | $23135 | $24723 |
| **06/23** | $24672 | $26357 |
| **07/23** | $25538 | $27203 |
| **08/23** | $25094 | $26770 |
| **09/23** | $24032 | $25494 |
| **10/23** | $23455 | $24958 |
| **11/23** | $25455 | $27237 |
| **12/23** | $26543 | $28474 |
| **01/24** | $27086 | $28953 |
| **02/24** | $28490 | $30499 |
| **03/24** | $29480 | $31480 |
| **04/24** | $28022 | $30194 |
| **05/24** | $29437 | $31692 |
| **06/24** | $30568 | $32829 |
| **07/24** | $31002 | $33228 |
| **08/24** | $31646 | $34034 |
| **09/24** | $32256 | $34761 |
| **10/24** | $32179 | $34446 |
| **11/24** | $33988 | $36468 |
| **12/24** | $33162 | $35599 |
| **01/25** | $33908 | $36590 |
| **02/25** | $33186 | $36113 |
| **03/25** | $31284 | $34078 |
| **04/25** | $30875 | $33847 |
| **05/25** | $32692 | $35977 |
| **06/25** | $34237 | $37807 |
| **07/25** | $35142 | $38655 |
| **08/25** | $36084 | $39439 |
| **09/25** | $37249 | $40878 |
| **10/25** | $38116 | $41835 |
| **11/25** | $38166 | $41938 |
| **12/25** | $38591 | $41964 |
| **01/26** | $38864 | $42572 |
| **02/26** | $38319 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class R | 15.47 | 13.85 | 14.38 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $440592353 |
| **Total number of portfolio holdings** | 102 |
| **Management services fees (represents 0.75% of Fund average net assets)** | $3605133 |
| **Portfolio turnover for the reporting period** | 72% |

---

Columbia Large Cap Enhanced Core Fund \| Class R **\|** ASR173_12_(04/26) \|

## 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 | 32.3% |
| Financials | 12.0% |
| Health Care | 10.3% |
| Communication Services | 9.9% |
| Consumer Discretionary | 9.7% |
| Industrials | 8.7% |
| Consumer Staples | 5.1% |
| Energy | 3.9% |
| Utilities | 2.9% |
| Real Estate | 1.9% |
| Other | 1.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.9% |
| Apple, Inc. | 6.8% |
| Alphabet, Inc., Class A | 6.1% |
| Microsoft Corp. | 4.7% |
| Amazon.com, Inc. | 3.4% |
| Meta Platforms, Inc., Class A | 3.2% |
| Broadcom, Inc. | 2.8% |
| Exxon Mobil Corp. | 1.8% |
| Tesla, Inc. | 1.4% |
| Procter & Gamble Co. (The) | 1.4% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.5% |

---

## 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](g250382g50k50.jpg)

Columbia Large Cap Enhanced Core Fund \| Class R **\|** ASR173_12_(04/26) \|

# Columbia Large Cap Enhanced Core Fund
Class S \| NMIDX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Enhanced Core Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $63 | 0.58% |

---

## Management's Discussion of Fund Performance
The performance of Class S shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care, financials and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** Overweight allocations to oil and gas companies and interactive media and an underweight allocation to insurance companies aided the Fund's relative performance during the period.

**Individual holdings** \| Positions in Lam Research, a firm that designs and manufactures semiconductors; Viatris, a global health care company; and Newmont Corporation, an exploration and mining company, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the industrials, information technology and consumer staples sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Overweight allocations in the aerospace and defense and specialized REITs industries and an underweight allocation in the semiconductors industry detracted from the Fund's relative results during the period.

**Individual holdings \|** The Fund's underweight position in Micron, a memory and storage solutions company; an overweight position in ServiceNow, a firm that provides a workflow platform for digital businesses; and an overweight in Adobe, a global technology company focused on digital marketing and media solutions, were top detractors from the Fund's relative performance during the period.

Columbia Large Cap Enhanced Core Fund \| Class S **\|** ASR173_16_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g36u54.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Enhanced Core Fund Class S ($39416)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10645 | $10678 |
| **04/16** | $10620 | $10720 |
| **05/16** | $10767 | $10912 |
| **06/16** | $10761 | $10941 |
| **07/16** | $11168 | $11344 |
| **08/16** | $11173 | $11360 |
| **09/16** | $11209 | $11362 |
| **10/16** | $11031 | $11155 |
| **11/16** | $11448 | $11568 |
| **12/16** | $11628 | $11797 |
| **01/17** | $11752 | $12020 |
| **02/17** | $12262 | $12498 |
| **03/17** | $12308 | $12512 |
| **04/17** | $12447 | $12641 |
| **05/17** | $12591 | $12818 |
| **06/17** | $12703 | $12898 |
| **07/17** | $13024 | $13164 |
| **08/17** | $13115 | $13204 |
| **09/17** | $13420 | $13476 |
| **10/17** | $13693 | $13791 |
| **11/17** | $14229 | $14214 |
| **12/17** | $14433 | $14372 |
| **01/18** | $15252 | $15195 |
| **02/18** | $14690 | $14635 |
| **03/18** | $14369 | $14263 |
| **04/18** | $14421 | $14317 |
| **05/18** | $14778 | $14662 |
| **06/18** | $14783 | $14753 |
| **07/18** | $15394 | $15302 |
| **08/18** | $15859 | $15800 |
| **09/18** | $15969 | $15890 |
| **10/18** | $14880 | $14804 |
| **11/18** | $15076 | $15106 |
| **12/18** | $13698 | $13742 |
| **01/19** | $14811 | $14843 |
| **02/19** | $15298 | $15320 |
| **03/19** | $15435 | $15617 |
| **04/19** | $15936 | $16250 |
| **05/19** | $14674 | $15217 |
| **06/19** | $15726 | $16289 |
| **07/19** | $15878 | $16523 |
| **08/19** | $15409 | $16262 |
| **09/19** | $15766 | $16566 |
| **10/19** | $16103 | $16925 |
| **11/19** | $16698 | $17539 |
| **12/19** | $17192 | $18069 |
| **01/20** | $17151 | $18061 |
| **02/20** | $15654 | $16575 |
| **03/20** | $13683 | $14527 |
| **04/20** | $15519 | $16390 |
| **05/20** | $16311 | $17170 |
| **06/20** | $16626 | $17512 |
| **07/20** | $17428 | $18499 |
| **08/20** | $18667 | $19829 |
| **09/20** | $17851 | $19076 |
| **10/20** | $17348 | $18568 |
| **11/20** | $19082 | $20601 |
| **12/20** | $19806 | $21393 |
| **01/21** | $19799 | $21177 |
| **02/21** | $20277 | $21761 |
| **03/21** | $21350 | $22714 |
| **04/21** | $22402 | $23926 |
| **05/21** | $22622 | $24093 |
| **06/21** | $23093 | $24656 |
| **07/21** | $23714 | $25241 |
| **08/21** | $24591 | $26009 |
| **09/21** | $23225 | $24799 |
| **10/21** | $24653 | $26537 |
| **11/21** | $24622 | $26353 |
| **12/21** | $25965 | $27534 |
| **01/22** | $24913 | $26109 |
| **02/22** | $24364 | $25327 |
| **03/22** | $25027 | $26268 |
| **04/22** | $23170 | $23977 |
| **05/22** | $23255 | $24021 |
| **06/22** | $21194 | $22038 |
| **07/22** | $22993 | $24070 |
| **08/22** | $22088 | $23089 |
| **09/22** | $20068 | $20962 |
| **10/22** | $21656 | $22659 |
| **11/22** | $22893 | $23926 |
| **12/22** | $21494 | $22547 |
| **01/23** | $22906 | $23964 |
| **02/23** | $22453 | $23379 |
| **03/23** | $23267 | $24238 |
| **04/23** | $23555 | $24616 |
| **05/23** | $23545 | $24723 |
| **06/23** | $25121 | $26357 |
| **07/23** | $26010 | $27203 |
| **08/23** | $25571 | $26770 |
| **09/23** | $24483 | $25494 |
| **10/23** | $23908 | $24958 |
| **11/23** | $25947 | $27237 |
| **12/23** | $27060 | $28474 |
| **01/24** | $27622 | $28953 |
| **02/24** | $29059 | $30499 |
| **03/24** | $30074 | $31480 |
| **04/24** | $28594 | $30194 |
| **05/24** | $30042 | $31692 |
| **06/24** | $31202 | $32829 |
| **07/24** | $31653 | $33228 |
| **08/24** | $32318 | $34034 |
| **09/24** | $32950 | $34761 |
| **10/24** | $32883 | $34446 |
| **11/24** | $34746 | $36468 |
| **12/24** | $33919 | $35599 |
| **01/25** | $34693 | $36590 |
| **02/25** | $33969 | $36113 |
| **03/25** | $32028 | $34078 |
| **04/25** | $31634 | $33847 |
| **05/25** | $33502 | $35977 |
| **06/25** | $35095 | $37807 |
| **07/25** | $36044 | $38655 |
| **08/25** | $37019 | $39439 |
| **09/25** | $38234 | $40878 |
| **10/25** | $39145 | $41835 |
| **11/25** | $39208 | $41938 |
| **12/25** | $39667 | $41964 |
| **01/26** | $39960 | $42572 |
| **02/26** | $39416 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class S<sup>Footnote Reference(a)</sup> | 16.04 | 14.22 | 14.70 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to October 2, 2024 (including Since Fund Inception returns, if shown) include the returns of Class A. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $440592353 |
| **Total number of portfolio holdings** | 102 |
| **Management services fees (represents 0.75% of Fund average net assets)** | $3605133 |
| **Portfolio turnover for the reporting period** | 72% |

---

Columbia Large Cap Enhanced Core Fund \| Class S **\|** ASR173_16_(04/26) \|

## 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 | 32.3% |
| Financials | 12.0% |
| Health Care | 10.3% |
| Communication Services | 9.9% |
| Consumer Discretionary | 9.7% |
| Industrials | 8.7% |
| Consumer Staples | 5.1% |
| Energy | 3.9% |
| Utilities | 2.9% |
| Real Estate | 1.9% |
| Other | 1.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.9% |
| Apple, Inc. | 6.8% |
| Alphabet, Inc., Class A | 6.1% |
| Microsoft Corp. | 4.7% |
| Amazon.com, Inc. | 3.4% |
| Meta Platforms, Inc., Class A | 3.2% |
| Broadcom, Inc. | 2.8% |
| Exxon Mobil Corp. | 1.8% |
| Tesla, Inc. | 1.4% |
| Procter & Gamble Co. (The) | 1.4% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.5% |

---

## 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](g250382g50k50.jpg)

Columbia Large Cap Enhanced Core Fund \| Class S **\|** ASR173_16_(04/26) \|

# Columbia Large Cap Enhanced Core Fund
Institutional 3 Class \| CECYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Enhanced Core Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $45 | 0.42% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care, financials and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** Overweight allocations to oil and gas companies and interactive media and an underweight allocation to insurance companies aided the Fund's relative performance during the period.

**Individual holdings** \| Positions in Lam Research, a firm that designs and manufactures semiconductors; Viatris, a global health care company; and Newmont Corporation, an exploration and mining company, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the industrials, information technology and consumer staples sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Overweight allocations in the aerospace and defense and specialized REITs industries and an underweight allocation in the semiconductors industry detracted from the Fund's relative results during the period.

**Individual holdings \|** The Fund's underweight position in Micron, a memory and storage solutions company; an overweight position in ServiceNow, a firm that provides a workflow platform for digital businesses; and an overweight in Adobe, a global technology company focused on digital marketing and media solutions, were top detractors from the Fund's relative performance during the period.

Columbia Large Cap Enhanced Core Fund \| Institutional 3 Class **\|** ASR173_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g78m99.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Enhanced Core Fund Institutional 3 Class ($40906)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10646 | $10678 |
| **04/16** | $10626 | $10720 |
| **05/16** | $10779 | $10912 |
| **06/16** | $10779 | $10941 |
| **07/16** | $11188 | $11344 |
| **08/16** | $11198 | $11360 |
| **09/16** | $11239 | $11362 |
| **10/16** | $11065 | $11155 |
| **11/16** | $11483 | $11568 |
| **12/16** | $11669 | $11797 |
| **01/17** | $11793 | $12020 |
| **02/17** | $12311 | $12498 |
| **03/17** | $12357 | $12512 |
| **04/17** | $12503 | $12641 |
| **05/17** | $12653 | $12818 |
| **06/17** | $12767 | $12898 |
| **07/17** | $13096 | $13164 |
| **08/17** | $13188 | $13204 |
| **09/17** | $13500 | $13476 |
| **10/17** | $13780 | $13791 |
| **11/17** | $14324 | $14214 |
| **12/17** | $14531 | $14372 |
| **01/18** | $15364 | $15195 |
| **02/18** | $14803 | $14635 |
| **03/18** | $14484 | $14263 |
| **04/18** | $14543 | $14317 |
| **05/18** | $14903 | $14662 |
| **06/18** | $14917 | $14753 |
| **07/18** | $15541 | $15302 |
| **08/18** | $16010 | $15800 |
| **09/18** | $16128 | $15890 |
| **10/18** | $15034 | $14804 |
| **11/18** | $15232 | $15106 |
| **12/18** | $13851 | $13742 |
| **01/19** | $14979 | $14843 |
| **02/19** | $15481 | $15320 |
| **03/19** | $15619 | $15617 |
| **04/19** | $16134 | $16250 |
| **05/19** | $14861 | $15217 |
| **06/19** | $15928 | $16289 |
| **07/19** | $16089 | $16523 |
| **08/19** | $15619 | $16262 |
| **09/19** | $15988 | $16566 |
| **10/19** | $16337 | $16925 |
| **11/19** | $16940 | $17539 |
| **12/19** | $17447 | $18069 |
| **01/20** | $17413 | $18061 |
| **02/20** | $15904 | $16575 |
| **03/20** | $13899 | $14527 |
| **04/20** | $15766 | $16390 |
| **05/20** | $16586 | $17170 |
| **06/20** | $16911 | $17512 |
| **07/20** | $17734 | $18499 |
| **08/20** | $18995 | $19829 |
| **09/20** | $18179 | $19076 |
| **10/20** | $17667 | $18568 |
| **11/20** | $19440 | $20601 |
| **12/20** | $20189 | $21393 |
| **01/21** | $20181 | $21177 |
| **02/21** | $20677 | $21761 |
| **03/21** | $21788 | $22714 |
| **04/21** | $22869 | $23926 |
| **05/21** | $23102 | $24093 |
| **06/21** | $23590 | $24656 |
| **07/21** | $24232 | $25241 |
| **08/21** | $25144 | $26009 |
| **09/21** | $23748 | $24799 |
| **10/21** | $25224 | $26537 |
| **11/21** | $25200 | $26353 |
| **12/21** | $26576 | $27534 |
| **01/22** | $25516 | $26109 |
| **02/22** | $24962 | $25327 |
| **03/22** | $25652 | $26268 |
| **04/22** | $23757 | $23977 |
| **05/22** | $23854 | $24021 |
| **06/22** | $21749 | $22038 |
| **07/22** | $23597 | $24070 |
| **08/22** | $22678 | $23089 |
| **09/22** | $20603 | $20962 |
| **10/22** | $22244 | $22659 |
| **11/22** | $23535 | $23926 |
| **12/22** | $22099 | $22547 |
| **01/23** | $23564 | $23964 |
| **02/23** | $23097 | $23379 |
| **03/23** | $23946 | $24238 |
| **04/23** | $24254 | $24616 |
| **05/23** | $24254 | $24723 |
| **06/23** | $25884 | $26357 |
| **07/23** | $26801 | $27203 |
| **08/23** | $26359 | $26770 |
| **09/23** | $25248 | $25494 |
| **10/23** | $24666 | $24958 |
| **11/23** | $26779 | $27237 |
| **12/23** | $27934 | $28474 |
| **01/24** | $28527 | $28953 |
| **02/24** | $30025 | $30499 |
| **03/24** | $31075 | $31480 |
| **04/24** | $29555 | $30194 |
| **05/24** | $31075 | $31692 |
| **06/24** | $32274 | $32829 |
| **07/24** | $32753 | $33228 |
| **08/24** | $33453 | $34034 |
| **09/24** | $34119 | $34761 |
| **10/24** | $34061 | $34446 |
| **11/24** | $35999 | $36468 |
| **12/24** | $35141 | $35599 |
| **01/25** | $35943 | $36590 |
| **02/25** | $35192 | $36113 |
| **03/25** | $33196 | $34078 |
| **04/25** | $32776 | $33847 |
| **05/25** | $34734 | $35977 |
| **06/25** | $36381 | $37807 |
| **07/25** | $37364 | $38655 |
| **08/25** | $38386 | $39439 |
| **09/25** | $39644 | $40878 |
| **10/25** | $40601 | $41835 |
| **11/25** | $40680 | $41938 |
| **12/25** | $41152 | $41964 |
| **01/26** | $41456 | $42572 |
| **02/26** | $40906 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class | 16.24 | 14.62 | 15.13 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $440592353 |
| **Total number of portfolio holdings** | 102 |
| **Management services fees (represents 0.75% of Fund average net assets)** | $3605133 |
| **Portfolio turnover for the reporting period** | 72% |

---

Columbia Large Cap Enhanced Core Fund \| Institutional 3 Class **\|** ASR173_17_(04/26) \|

## 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 | 32.3% |
| Financials | 12.0% |
| Health Care | 10.3% |
| Communication Services | 9.9% |
| Consumer Discretionary | 9.7% |
| Industrials | 8.7% |
| Consumer Staples | 5.1% |
| Energy | 3.9% |
| Utilities | 2.9% |
| Real Estate | 1.9% |
| Other | 1.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.9% |
| Apple, Inc. | 6.8% |
| Alphabet, Inc., Class A | 6.1% |
| Microsoft Corp. | 4.7% |
| Amazon.com, Inc. | 3.4% |
| Meta Platforms, Inc., Class A | 3.2% |
| Broadcom, Inc. | 2.8% |
| Exxon Mobil Corp. | 1.8% |
| Tesla, Inc. | 1.4% |
| Procter & Gamble Co. (The) | 1.4% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.5% |

---

## 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](g250382g50k50.jpg)

Columbia Large Cap Enhanced Core Fund \| Institutional 3 Class **\|** ASR173_17_(04/26) \|

# Columbia Large Cap Enhanced Core Fund
Institutional Class \| NMIMX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Enhanced Core Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $63 | 0.58% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the health care, financials and consumer discretionary sectors boosted the Fund's relative performance most during the annual period.

**Allocations \|** Overweight allocations to oil and gas companies and interactive media and an underweight allocation to insurance companies aided the Fund's relative performance during the period.

**Individual holdings** \| Positions in Lam Research, a firm that designs and manufactures semiconductors; Viatris, a global health care company; and Newmont Corporation, an exploration and mining company, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the industrials, information technology and consumer staples sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Overweight allocations in the aerospace and defense and specialized REITs industries and an underweight allocation in the semiconductors industry detracted from the Fund's relative results during the period.

**Individual holdings \|** The Fund's underweight position in Micron, a memory and storage solutions company; an overweight position in ServiceNow, a firm that provides a workflow platform for digital businesses; and an overweight in Adobe, a global technology company focused on digital marketing and media solutions, were top detractors from the Fund's relative performance during the period.

Columbia Large Cap Enhanced Core Fund \| Institutional Class **\|** ASR173_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g84u91.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Enhanced Core Fund Institutional Class ($40277)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10646 | $10678 |
| **04/16** | $10621 | $10720 |
| **05/16** | $10774 | $10912 |
| **06/16** | $10772 | $10941 |
| **07/16** | $11180 | $11344 |
| **08/16** | $11190 | $11360 |
| **09/16** | $11226 | $11362 |
| **10/16** | $11052 | $11155 |
| **11/16** | $11466 | $11568 |
| **12/16** | $11653 | $11797 |
| **01/17** | $11777 | $12020 |
| **02/17** | $12294 | $12498 |
| **03/17** | $12341 | $12512 |
| **04/17** | $12481 | $12641 |
| **05/17** | $12631 | $12818 |
| **06/17** | $12748 | $12898 |
| **07/17** | $13071 | $13164 |
| **08/17** | $13162 | $13204 |
| **09/17** | $13469 | $13476 |
| **10/17** | $13754 | $13791 |
| **11/17** | $14286 | $14214 |
| **12/17** | $14499 | $14372 |
| **01/18** | $15323 | $15195 |
| **02/18** | $14764 | $14635 |
| **03/18** | $14440 | $14263 |
| **04/18** | $14499 | $14317 |
| **05/18** | $14858 | $14662 |
| **06/18** | $14868 | $14753 |
| **07/18** | $15490 | $15302 |
| **08/18** | $15958 | $15800 |
| **09/18** | $16069 | $15890 |
| **10/18** | $14979 | $14804 |
| **11/18** | $15176 | $15106 |
| **12/18** | $13793 | $13742 |
| **01/19** | $14923 | $14843 |
| **02/19** | $15416 | $15320 |
| **03/19** | $15554 | $15617 |
| **04/19** | $16059 | $16250 |
| **05/19** | $14792 | $15217 |
| **06/19** | $15855 | $16289 |
| **07/19** | $16015 | $16523 |
| **08/19** | $15541 | $16262 |
| **09/19** | $15908 | $16566 |
| **10/19** | $16255 | $16925 |
| **11/19** | $16856 | $17539 |
| **12/19** | $17355 | $18069 |
| **01/20** | $17321 | $18061 |
| **02/20** | $15813 | $16575 |
| **03/20** | $13818 | $14527 |
| **04/20** | $15676 | $16390 |
| **05/20** | $16485 | $17170 |
| **06/20** | $16811 | $17512 |
| **07/20** | $17622 | $18499 |
| **08/20** | $18876 | $19829 |
| **09/20** | $18057 | $19076 |
| **10/20** | $17548 | $18568 |
| **11/20** | $19304 | $20601 |
| **12/20** | $20045 | $21393 |
| **01/21** | $20038 | $21177 |
| **02/21** | $20530 | $21761 |
| **03/21** | $21626 | $22714 |
| **04/21** | $22693 | $23926 |
| **05/21** | $22924 | $24093 |
| **06/21** | $23402 | $24656 |
| **07/21** | $24032 | $25241 |
| **08/21** | $24930 | $26009 |
| **09/21** | $23552 | $24799 |
| **10/21** | $25009 | $26537 |
| **11/21** | $24978 | $26353 |
| **12/21** | $26346 | $27534 |
| **01/22** | $25286 | $26109 |
| **02/22** | $24736 | $25327 |
| **03/22** | $25411 | $26268 |
| **04/22** | $23531 | $23977 |
| **05/22** | $23618 | $24021 |
| **06/22** | $21532 | $22038 |
| **07/22** | $23374 | $24070 |
| **08/22** | $22442 | $23089 |
| **09/22** | $20396 | $20962 |
| **10/22** | $22013 | $22659 |
| **11/22** | $23282 | $23926 |
| **12/22** | $21865 | $22547 |
| **01/23** | $23305 | $23964 |
| **02/23** | $22842 | $23379 |
| **03/23** | $23683 | $24238 |
| **04/23** | $23978 | $24616 |
| **05/23** | $23978 | $24723 |
| **06/23** | $25584 | $26357 |
| **07/23** | $26491 | $27203 |
| **08/23** | $26054 | $26770 |
| **09/23** | $24944 | $25494 |
| **10/23** | $24368 | $24958 |
| **11/23** | $26459 | $27237 |
| **12/23** | $27596 | $28474 |
| **01/24** | $28170 | $28953 |
| **02/24** | $29640 | $30499 |
| **03/24** | $30689 | $31480 |
| **04/24** | $29176 | $30194 |
| **05/24** | $30667 | $31692 |
| **06/24** | $31855 | $32829 |
| **07/24** | $32316 | $33228 |
| **08/24** | $33008 | $34034 |
| **09/24** | $33654 | $34761 |
| **10/24** | $33597 | $34446 |
| **11/24** | $35500 | $36468 |
| **12/24** | $34647 | $35599 |
| **01/25** | $35438 | $36590 |
| **02/25** | $34697 | $36113 |
| **03/25** | $32726 | $34078 |
| **04/25** | $32312 | $33847 |
| **05/25** | $34233 | $35977 |
| **06/25** | $35862 | $37807 |
| **07/25** | $36819 | $38655 |
| **08/25** | $37828 | $39439 |
| **09/25** | $39056 | $40878 |
| **10/25** | $40000 | $41835 |
| **11/25** | $40065 | $41938 |
| **12/25** | $40520 | $41964 |
| **01/26** | $40819 | $42572 |
| **02/26** | $40277 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 16.08 | 14.43 | 14.95 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $440592353 |
| **Total number of portfolio holdings** | 102 |
| **Management services fees (represents 0.75% of Fund average net assets)** | $3605133 |
| **Portfolio turnover for the reporting period** | 72% |

---

Columbia Large Cap Enhanced Core Fund \| Institutional Class **\|** ASR173_08_(04/26) \|

## 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 | 32.3% |
| Financials | 12.0% |
| Health Care | 10.3% |
| Communication Services | 9.9% |
| Consumer Discretionary | 9.7% |
| Industrials | 8.7% |
| Consumer Staples | 5.1% |
| Energy | 3.9% |
| Utilities | 2.9% |
| Real Estate | 1.9% |
| Other | 1.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.9% |
| Apple, Inc. | 6.8% |
| Alphabet, Inc., Class A | 6.1% |
| Microsoft Corp. | 4.7% |
| Amazon.com, Inc. | 3.4% |
| Meta Platforms, Inc., Class A | 3.2% |
| Broadcom, Inc. | 2.8% |
| Exxon Mobil Corp. | 1.8% |
| Tesla, Inc. | 1.4% |
| Procter & Gamble Co. (The) | 1.4% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.5% |

---

## 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](g250382g50k50.jpg)

Columbia Large Cap Enhanced Core Fund \| Institutional Class **\|** ASR173_08_(04/26) \|

# Columbia Large Cap Growth Opportunity Fund
Class A \| NFEAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Growth Opportunity Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $111 | 1.05% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from relative Fund performance.

Columbia Large Cap Growth Opportunity Fund \| Class A **\|** ASR186_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g59x48.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Large Cap Growth Opportunity Fund Class A (including sales charges) ($36737)** | **Russell 1000<sup>®</sup> Index ($41608)** | **Russell 1000<sup>®</sup> Growth Index ($53356)** |
| **02/16** | $9423 | $10000 | $10000 |
| **03/16** | $10038 | $10697 | $10674 |
| **04/16** | $9987 | $10755 | $10577 |
| **05/16** | $10342 | $10943 | $10782 |
| **06/16** | $10063 | $10968 | $10740 |
| **07/16** | $10617 | $11386 | $11247 |
| **08/16** | $10566 | $11401 | $11191 |
| **09/16** | $10674 | $11410 | $11232 |
| **10/16** | $10351 | $11187 | $10968 |
| **11/16** | $10509 | $11628 | $11207 |
| **12/16** | $10556 | $11847 | $11346 |
| **01/17** | $10976 | $12085 | $11728 |
| **02/17** | $11388 | $12553 | $12215 |
| **03/17** | $11540 | $12561 | $12356 |
| **04/17** | $11873 | $12694 | $12639 |
| **05/17** | $12307 | $12856 | $12968 |
| **06/17** | $12328 | $12945 | $12933 |
| **07/17** | $12694 | $13202 | $13277 |
| **08/17** | $12899 | $13243 | $13521 |
| **09/17** | $12913 | $13525 | $13696 |
| **10/17** | $13242 | $13835 | $14227 |
| **11/17** | $13469 | $14257 | $14659 |
| **12/17** | $13468 | $14416 | $14773 |
| **01/18** | $14497 | $15207 | $15820 |
| **02/18** | $14082 | $14649 | $15405 |
| **03/18** | $13813 | $14317 | $14982 |
| **04/18** | $13767 | $14365 | $15035 |
| **05/18** | $14397 | $14732 | $15694 |
| **06/18** | $14439 | $14827 | $15845 |
| **07/18** | $14864 | $15339 | $16310 |
| **08/18** | $15537 | $15868 | $17202 |
| **09/18** | $15657 | $15928 | $17298 |
| **10/18** | $14047 | $14801 | $15751 |
| **11/18** | $14231 | $15102 | $15918 |
| **12/18** | $12879 | $13726 | $14550 |
| **01/19** | $14151 | $14877 | $15858 |
| **02/19** | $14672 | $15380 | $16425 |
| **03/19** | $15014 | $15648 | $16892 |
| **04/19** | $15706 | $16280 | $17656 |
| **05/19** | $14604 | $15243 | $16540 |
| **06/19** | $15749 | $16313 | $17676 |
| **07/19** | $16019 | $16566 | $18075 |
| **08/19** | $15687 | $16263 | $17937 |
| **09/19** | $15731 | $16545 | $17939 |
| **10/19** | $16203 | $16895 | $18445 |
| **11/19** | $16980 | $17534 | $19263 |
| **12/19** | $17507 | $18040 | $19844 |
| **01/20** | $17856 | $18060 | $20288 |
| **02/20** | $16659 | $16584 | $18906 |
| **03/20** | $15131 | $14392 | $17046 |
| **04/20** | $17366 | $16294 | $19569 |
| **05/20** | $18535 | $17154 | $20883 |
| **06/20** | $19429 | $17533 | $21792 |
| **07/20** | $20831 | $18560 | $23469 |
| **08/20** | $23060 | $19922 | $25890 |
| **09/20** | $21981 | $19194 | $24672 |
| **10/20** | $21225 | $18731 | $23834 |
| **11/20** | $23504 | $20937 | $26275 |
| **12/20** | $24596 | $21822 | $27483 |
| **01/21** | $24542 | $21642 | $27280 |
| **02/21** | $25134 | $22269 | $27273 |
| **03/21** | $25209 | $23112 | $27742 |
| **04/21** | $26897 | $24356 | $29630 |
| **05/21** | $26360 | $24472 | $29220 |
| **06/21** | $27667 | $25085 | $31053 |
| **07/21** | $28493 | $25606 | $32076 |
| **08/21** | $29201 | $26347 | $33276 |
| **09/21** | $27620 | $25137 | $31412 |
| **10/21** | $29531 | $26881 | $34133 |
| **11/21** | $28941 | $26521 | $34341 |
| **12/21** | $29287 | $27595 | $35067 |
| **01/22** | $26556 | $26039 | $32058 |
| **02/22** | $25831 | $25325 | $30696 |
| **03/22** | $25892 | $26179 | $31897 |
| **04/22** | $23115 | $23846 | $28045 |
| **05/22** | $22652 | $23809 | $27393 |
| **06/22** | $20822 | $21815 | $25223 |
| **07/22** | $22809 | $23847 | $28251 |
| **08/22** | $21739 | $22931 | $26935 |
| **09/22** | $19523 | $20810 | $24316 |
| **10/22** | $20689 | $22479 | $25737 |
| **11/22** | $22083 | $23695 | $26910 |
| **12/22** | $20593 | $22317 | $24850 |
| **01/23** | $22580 | $23813 | $26921 |
| **02/23** | $21758 | $23246 | $26601 |
| **03/23** | $22752 | $23982 | $28420 |
| **04/23** | $22656 | $24279 | $28700 |
| **05/23** | $23134 | $24392 | $30008 |
| **06/23** | $24433 | $26039 | $32060 |
| **07/23** | $25312 | $26935 | $33140 |
| **08/23** | $24624 | $26464 | $32843 |
| **09/23** | $23268 | $25220 | $31057 |
| **10/23** | $22675 | $24610 | $30615 |
| **11/23** | $25522 | $26909 | $33952 |
| **12/23** | $27031 | $28237 | $35455 |
| **01/24** | $27604 | $28631 | $36340 |
| **02/24** | $28960 | $30177 | $38819 |
| **03/24** | $29342 | $31145 | $39502 |
| **04/24** | $27871 | $29819 | $37827 |
| **05/24** | $29533 | $31224 | $40091 |
| **06/24** | $31441 | $32257 | $42795 |
| **07/24** | $30403 | $32726 | $42067 |
| **08/24** | $31265 | $33502 | $42943 |
| **09/24** | $31950 | $34218 | $44160 |
| **10/24** | $31696 | $33979 | $44014 |
| **11/24** | $33674 | $36167 | $46868 |
| **12/24** | $33642 | $35159 | $47282 |
| **01/25** | $34335 | $36278 | $48217 |
| **02/25** | $33107 | $35643 | $46485 |
| **03/25** | $29739 | $33580 | $42569 |
| **04/25** | $30392 | $33381 | $43323 |
| **05/25** | $32988 | $35512 | $47156 |
| **06/25** | $35142 | $37310 | $50163 |
| **07/25** | $36478 | $38139 | $52057 |
| **08/25** | $36601 | $38942 | $52639 |
| **09/25** | $37978 | $40292 | $55435 |
| **10/25** | $39745 | $41161 | $57449 |
| **11/25** | $39273 | $41262 | $56407 |
| **12/25** | $38789 | $41264 | $56058 |
| **01/26** | $38556 | $41832 | $55210 |
| **02/26** | $36737 | $41608 | $53356 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A (excluding sales charges) | 10.97 | 7.89 | 14.58 |
| Class A (including sales charges) | 4.58 | 6.61 | 13.90 |
| Russell 1000<sup>®</sup> Index | 16.73 | 13.32 | 15.32 |
| Russell 1000<sup>®</sup> Growth Index | 14.78 | 14.36 | 18.23 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1209625976 |
| **Total number of portfolio holdings** | 43 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $9139308 |
| **Portfolio turnover for the reporting period** | 53% |

---

Columbia Large Cap Growth Opportunity Fund \| Class A **\|** ASR186_01_(04/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 14.2% |
| Technology Hardware, Storage & Peripherals | 6.9% |
| Electronic Manufacturing Services | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.4% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Microsoft Corp. | 10.4% |
| Alphabet, Inc., Class A | 7.6% |
| Apple, Inc. | 6.9% |
| Amazon.com, Inc. | 6.5% |
| Meta Platforms, Inc., Class A | 5.0% |
| Broadcom, Inc. | 4.9% |
| Eli Lilly & Co. | 4.2% |
| Visa, Inc., Class A | 3.1% |
| Costco Wholesale Corp. | 2.8% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 44.8% |
| Consumer Discretionary | 14.8% |
| Communication Services | 13.5% |
| Health Care | 10.2% |
| Industrials | 5.9% |
| Financials | 5.4% |
| Consumer Staples | 3.8% |
| Real Estate | 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, 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](g250382g50k50.jpg)

Columbia Large Cap Growth Opportunity Fund \| Class A **\|** ASR186_01_(04/26) \|

# Columbia Large Cap Growth Opportunity Fund
Class R \| CLGPX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Growth Opportunity Fund (the Fund) for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class R | $137 | 1.30% |

---

## Management's Discussion of Fund Performance
The performance of Class R shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from relative Fund performance.

Columbia Large Cap Growth Opportunity Fund \| Class R **\|** ASR186_12_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g19d30.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Large Cap Growth Opportunity Fund Class R ($38010)** | **Russell 1000<sup>®</sup> Index ($41608)** | **Russell 1000<sup>®</sup> Growth Index ($53356)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10650 | $10697 | $10674 |
| **04/16** | $10594 | $10755 | $10577 |
| **05/16** | $10968 | $10943 | $10782 |
| **06/16** | $10670 | $10968 | $10740 |
| **07/16** | $11255 | $11386 | $11247 |
| **08/16** | $11199 | $11401 | $11191 |
| **09/16** | $11311 | $11410 | $11232 |
| **10/16** | $10967 | $11187 | $10968 |
| **11/16** | $11133 | $11628 | $11207 |
| **12/16** | $11176 | $11847 | $11346 |
| **01/17** | $11624 | $12085 | $11728 |
| **02/17** | $12057 | $12553 | $12215 |
| **03/17** | $12216 | $12561 | $12356 |
| **04/17** | $12566 | $12694 | $12639 |
| **05/17** | $13022 | $12856 | $12968 |
| **06/17** | $13044 | $12945 | $12933 |
| **07/17** | $13428 | $13202 | $13277 |
| **08/17** | $13643 | $13243 | $13521 |
| **09/17** | $13650 | $13525 | $13696 |
| **10/17** | $13996 | $13835 | $14227 |
| **11/17** | $14226 | $14257 | $14659 |
| **12/17** | $14228 | $14416 | $14773 |
| **01/18** | $15307 | $15207 | $15820 |
| **02/18** | $14864 | $14649 | $15405 |
| **03/18** | $14582 | $14317 | $14982 |
| **04/18** | $14534 | $14365 | $15035 |
| **05/18** | $15194 | $14732 | $15694 |
| **06/18** | $15233 | $14827 | $15845 |
| **07/18** | $15677 | $15339 | $16310 |
| **08/18** | $16390 | $15868 | $17202 |
| **09/18** | $16515 | $15928 | $17298 |
| **10/18** | $14814 | $14801 | $15751 |
| **11/18** | $14998 | $15102 | $15918 |
| **12/18** | $13574 | $13726 | $14550 |
| **01/19** | $14905 | $14877 | $15858 |
| **02/19** | $15459 | $15380 | $16425 |
| **03/19** | $15808 | $15648 | $16892 |
| **04/19** | $16540 | $16280 | $17656 |
| **05/19** | $15379 | $15243 | $16540 |
| **06/19** | $16576 | $16313 | $17676 |
| **07/19** | $16860 | $16566 | $18075 |
| **08/19** | $16503 | $16263 | $17937 |
| **09/19** | $16549 | $16545 | $17939 |
| **10/19** | $17033 | $16895 | $18445 |
| **11/19** | $17847 | $17534 | $19263 |
| **12/19** | $18398 | $18040 | $19844 |
| **01/20** | $18763 | $18060 | $20288 |
| **02/20** | $17501 | $16584 | $18906 |
| **03/20** | $15893 | $14392 | $17046 |
| **04/20** | $18240 | $16294 | $19569 |
| **05/20** | $19463 | $17154 | $20883 |
| **06/20** | $20398 | $17533 | $21792 |
| **07/20** | $21864 | $18560 | $23469 |
| **08/20** | $24195 | $19922 | $25890 |
| **09/20** | $23055 | $19194 | $24672 |
| **10/20** | $22254 | $18731 | $23834 |
| **11/20** | $24648 | $20937 | $26275 |
| **12/20** | $25789 | $21822 | $27483 |
| **01/21** | $25722 | $21642 | $27280 |
| **02/21** | $26351 | $22269 | $27273 |
| **03/21** | $26408 | $23112 | $27742 |
| **04/21** | $28173 | $24356 | $29630 |
| **05/21** | $27610 | $24472 | $29220 |
| **06/21** | $28972 | $25085 | $31053 |
| **07/21** | $29833 | $25606 | $32076 |
| **08/21** | $30571 | $26347 | $33276 |
| **09/21** | $28910 | $25137 | $31412 |
| **10/21** | $30891 | $26881 | $34133 |
| **11/21** | $30276 | $26521 | $34341 |
| **12/21** | $30634 | $27595 | $35067 |
| **01/22** | $27781 | $26039 | $32058 |
| **02/22** | $27011 | $25325 | $30696 |
| **03/22** | $27059 | $26179 | $31897 |
| **04/22** | $24158 | $23846 | $28045 |
| **05/22** | $23661 | $23809 | $27393 |
| **06/22** | $21744 | $21815 | $25223 |
| **07/22** | $23825 | $23847 | $28251 |
| **08/22** | $22696 | $22931 | $26935 |
| **09/22** | $20377 | $20810 | $24316 |
| **10/22** | $21605 | $22479 | $25737 |
| **11/22** | $23033 | $23695 | $26910 |
| **12/22** | $21487 | $22317 | $24850 |
| **01/23** | $23568 | $23813 | $26921 |
| **02/23** | $22696 | $23246 | $26601 |
| **03/23** | $23726 | $23982 | $28420 |
| **04/23** | $23607 | $24279 | $28700 |
| **05/23** | $24103 | $24392 | $30008 |
| **06/23** | $25471 | $26039 | $32060 |
| **07/23** | $26382 | $26935 | $33140 |
| **08/23** | $25649 | $26464 | $32843 |
| **09/23** | $24242 | $25220 | $31057 |
| **10/23** | $23607 | $24610 | $30615 |
| **11/23** | $26561 | $26909 | $33952 |
| **12/23** | $28127 | $28237 | $35455 |
| **01/24** | $28721 | $28631 | $36340 |
| **02/24** | $30129 | $30177 | $38819 |
| **03/24** | $30505 | $31145 | $39502 |
| **04/24** | $28999 | $29819 | $37827 |
| **05/24** | $30704 | $31224 | $40091 |
| **06/24** | $32663 | $32257 | $42795 |
| **07/24** | $31585 | $32726 | $42067 |
| **08/24** | $32500 | $33502 | $42943 |
| **09/24** | $33171 | $34218 | $44160 |
| **10/24** | $32927 | $33979 | $44014 |
| **11/24** | $34959 | $36167 | $46868 |
| **12/24** | $34925 | $35159 | $47282 |
| **01/25** | $35645 | $36278 | $48217 |
| **02/25** | $34350 | $35643 | $46485 |
| **03/25** | $30855 | $33580 | $42569 |
| **04/25** | $31513 | $33381 | $43323 |
| **05/25** | $34206 | $35512 | $47156 |
| **06/25** | $36420 | $37310 | $50163 |
| **07/25** | $37806 | $38139 | $52057 |
| **08/25** | $37934 | $38942 | $52639 |
| **09/25** | $39341 | $40292 | $55435 |
| **10/25** | $41175 | $41161 | $57449 |
| **11/25** | $40684 | $41262 | $56407 |
| **12/25** | $40161 | $41264 | $56058 |
| **01/26** | $39897 | $41832 | $55210 |
| **02/26** | $38010 | $41608 | $53356 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class R<sup>Footnote Reference(a)</sup> | 10.66 | 7.60 | 14.29 |
| Russell 1000<sup>®</sup> Index | 16.73 | 13.32 | 15.32 |
| Russell 1000<sup>®</sup> Growth Index | 14.78 | 14.36 | 18.23 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to October 26, 2016 (including Since Fund Inception returns, if shown) include the returns of Class A. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1209625976 |
| **Total number of portfolio holdings** | 43 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $9139308 |
| **Portfolio turnover for the reporting period** | 53% |

---

Columbia Large Cap Growth Opportunity Fund \| Class R **\|** ASR186_12_(04/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 14.2% |
| Technology Hardware, Storage & Peripherals | 6.9% |
| Electronic Manufacturing Services | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.4% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Microsoft Corp. | 10.4% |
| Alphabet, Inc., Class A | 7.6% |
| Apple, Inc. | 6.9% |
| Amazon.com, Inc. | 6.5% |
| Meta Platforms, Inc., Class A | 5.0% |
| Broadcom, Inc. | 4.9% |
| Eli Lilly & Co. | 4.2% |
| Visa, Inc., Class A | 3.1% |
| Costco Wholesale Corp. | 2.8% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 44.8% |
| Consumer Discretionary | 14.8% |
| Communication Services | 13.5% |
| Health Care | 10.2% |
| Industrials | 5.9% |
| Financials | 5.4% |
| Consumer Staples | 3.8% |
| Real Estate | 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, 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](g250382g50k50.jpg)

Columbia Large Cap Growth Opportunity Fund \| Class R **\|** ASR186_12_(04/26) \|

# Columbia Large Cap Growth Opportunity Fund
Class S \| NFEDX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Growth Opportunity Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $84 | 0.80% |

---

## Management's Discussion of Fund Performance
The performance of Class S shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from relative Fund performance.

Columbia Large Cap Growth Opportunity Fund \| Class S **\|** ASR186_16_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g14s00.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Large Cap Growth Opportunity Fund Class S ($39116)** | **Russell 1000<sup>®</sup> Index ($41608)** | **Russell 1000<sup>®</sup> Growth Index ($53356)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10652 | $10697 | $10674 |
| **04/16** | $10599 | $10755 | $10577 |
| **05/16** | $10975 | $10943 | $10782 |
| **06/16** | $10679 | $10968 | $10740 |
| **07/16** | $11266 | $11386 | $11247 |
| **08/16** | $11213 | $11401 | $11191 |
| **09/16** | $11327 | $11410 | $11232 |
| **10/16** | $10984 | $11187 | $10968 |
| **11/16** | $11152 | $11628 | $11207 |
| **12/16** | $11202 | $11847 | $11346 |
| **01/17** | $11648 | $12085 | $11728 |
| **02/17** | $12085 | $12553 | $12215 |
| **03/17** | $12246 | $12561 | $12356 |
| **04/17** | $12600 | $12694 | $12639 |
| **05/17** | $13060 | $12856 | $12968 |
| **06/17** | $13082 | $12945 | $12933 |
| **07/17** | $13471 | $13202 | $13277 |
| **08/17** | $13688 | $13243 | $13521 |
| **09/17** | $13704 | $13525 | $13696 |
| **10/17** | $14053 | $13835 | $14227 |
| **11/17** | $14294 | $14257 | $14659 |
| **12/17** | $14292 | $14416 | $14773 |
| **01/18** | $15384 | $15207 | $15820 |
| **02/18** | $14944 | $14649 | $15405 |
| **03/18** | $14659 | $14317 | $14982 |
| **04/18** | $14610 | $14365 | $15035 |
| **05/18** | $15278 | $14732 | $15694 |
| **06/18** | $15323 | $14827 | $15845 |
| **07/18** | $15774 | $15339 | $16310 |
| **08/18** | $16487 | $15868 | $17202 |
| **09/18** | $16615 | $15928 | $17298 |
| **10/18** | $14907 | $14801 | $15751 |
| **11/18** | $15102 | $15102 | $15918 |
| **12/18** | $13667 | $13726 | $14550 |
| **01/19** | $15017 | $14877 | $15858 |
| **02/19** | $15570 | $15380 | $16425 |
| **03/19** | $15933 | $15648 | $16892 |
| **04/19** | $16667 | $16280 | $17656 |
| **05/19** | $15498 | $15243 | $16540 |
| **06/19** | $16712 | $16313 | $17676 |
| **07/19** | $17000 | $16566 | $18075 |
| **08/19** | $16647 | $16263 | $17937 |
| **09/19** | $16694 | $16545 | $17939 |
| **10/19** | $17194 | $16895 | $18445 |
| **11/19** | $18019 | $17534 | $19263 |
| **12/19** | $18578 | $18040 | $19844 |
| **01/20** | $18949 | $18060 | $20288 |
| **02/20** | $17678 | $16584 | $18906 |
| **03/20** | $16057 | $14392 | $17046 |
| **04/20** | $18428 | $16294 | $19569 |
| **05/20** | $19669 | $17154 | $20883 |
| **06/20** | $20618 | $17533 | $21792 |
| **07/20** | $22106 | $18560 | $23469 |
| **08/20** | $24472 | $19922 | $25890 |
| **09/20** | $23326 | $19194 | $24672 |
| **10/20** | $22523 | $18731 | $23834 |
| **11/20** | $24943 | $20937 | $26275 |
| **12/20** | $26101 | $21822 | $27483 |
| **01/21** | $26044 | $21642 | $27280 |
| **02/21** | $26672 | $22269 | $27273 |
| **03/21** | $26752 | $23112 | $27742 |
| **04/21** | $28544 | $24356 | $29630 |
| **05/21** | $27973 | $24472 | $29220 |
| **06/21** | $29360 | $25085 | $31053 |
| **07/21** | $30237 | $25606 | $32076 |
| **08/21** | $30988 | $26347 | $33276 |
| **09/21** | $29310 | $25137 | $31412 |
| **10/21** | $31338 | $26881 | $34133 |
| **11/21** | $30712 | $26521 | $34341 |
| **12/21** | $31079 | $27595 | $35067 |
| **01/22** | $28181 | $26039 | $32058 |
| **02/22** | $27411 | $25325 | $30696 |
| **03/22** | $27477 | $26179 | $31897 |
| **04/22** | $24529 | $23846 | $28045 |
| **05/22** | $24038 | $23809 | $27393 |
| **06/22** | $22097 | $21815 | $25223 |
| **07/22** | $24205 | $23847 | $28251 |
| **08/22** | $23070 | $22931 | $26935 |
| **09/22** | $20718 | $20810 | $24316 |
| **10/22** | $21955 | $22479 | $25737 |
| **11/22** | $23435 | $23695 | $26910 |
| **12/22** | $21853 | $22317 | $24850 |
| **01/23** | $23962 | $23813 | $26921 |
| **02/23** | $23090 | $23246 | $26601 |
| **03/23** | $24144 | $23982 | $28420 |
| **04/23** | $24043 | $24279 | $28700 |
| **05/23** | $24550 | $24392 | $30008 |
| **06/23** | $25928 | $26039 | $32060 |
| **07/23** | $26861 | $26935 | $33140 |
| **08/23** | $26131 | $26464 | $32843 |
| **09/23** | $24692 | $25220 | $31057 |
| **10/23** | $24063 | $24610 | $30615 |
| **11/23** | $27084 | $26909 | $33952 |
| **12/23** | $28685 | $28237 | $35455 |
| **01/24** | $29293 | $28631 | $36340 |
| **02/24** | $30733 | $30177 | $38819 |
| **03/24** | $31138 | $31145 | $39502 |
| **04/24** | $29577 | $29819 | $37827 |
| **05/24** | $31341 | $31224 | $40091 |
| **06/24** | $33365 | $32257 | $42795 |
| **07/24** | $32263 | $32726 | $42067 |
| **08/24** | $33178 | $33502 | $42943 |
| **09/24** | $33906 | $34218 | $44160 |
| **10/24** | $33644 | $33979 | $44014 |
| **11/24** | $35750 | $36167 | $46868 |
| **12/24** | $35722 | $35159 | $47282 |
| **01/25** | $36465 | $36278 | $48217 |
| **02/25** | $35168 | $35643 | $46485 |
| **03/25** | $31591 | $33580 | $42569 |
| **04/25** | $32282 | $33381 | $43323 |
| **05/25** | $35065 | $35512 | $47156 |
| **06/25** | $37341 | $37310 | $50163 |
| **07/25** | $38783 | $38139 | $52057 |
| **08/25** | $38926 | $38942 | $52639 |
| **09/25** | $40386 | $40292 | $55435 |
| **10/25** | $42291 | $41161 | $57449 |
| **11/25** | $41793 | $41262 | $56407 |
| **12/25** | $41285 | $41264 | $56058 |
| **01/26** | $41029 | $41832 | $55210 |
| **02/26** | $39116 | $41608 | $53356 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class S<sup>Footnote Reference(a)</sup> | 11.22 | 7.96 | 14.61 |
| Russell 1000<sup>®</sup> Index | 16.73 | 13.32 | 15.32 |
| Russell 1000<sup>®</sup> Growth Index | 14.78 | 14.36 | 18.23 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to October 2, 2024 (including Since Fund Inception returns, if shown) include the returns of Class A. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1209625976 |
| **Total number of portfolio holdings** | 43 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $9139308 |
| **Portfolio turnover for the reporting period** | 53% |

---

Columbia Large Cap Growth Opportunity Fund \| Class S **\|** ASR186_16_(04/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 14.2% |
| Technology Hardware, Storage & Peripherals | 6.9% |
| Electronic Manufacturing Services | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.4% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Microsoft Corp. | 10.4% |
| Alphabet, Inc., Class A | 7.6% |
| Apple, Inc. | 6.9% |
| Amazon.com, Inc. | 6.5% |
| Meta Platforms, Inc., Class A | 5.0% |
| Broadcom, Inc. | 4.9% |
| Eli Lilly & Co. | 4.2% |
| Visa, Inc., Class A | 3.1% |
| Costco Wholesale Corp. | 2.8% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 44.8% |
| Consumer Discretionary | 14.8% |
| Communication Services | 13.5% |
| Health Care | 10.2% |
| Industrials | 5.9% |
| Financials | 5.4% |
| Consumer Staples | 3.8% |
| Real Estate | 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, 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](g250382g50k50.jpg)

Columbia Large Cap Growth Opportunity Fund \| Class S **\|** ASR186_16_(04/26) \|

# Columbia Large Cap Growth Opportunity Fund
Institutional 2 Class \| CADRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Growth Opportunity Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $78 | 0.74% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from relative Fund performance.

Columbia Large Cap Growth Opportunity Fund \| Institutional 2 Class **\|** ASR186_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g29h27.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Large Cap Growth Opportunity Fund Institutional 2 Class ($40230)** | **Russell 1000<sup>®</sup> Index ($41608)** | **Russell 1000<sup>®</sup> Growth Index ($53356)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10653 | $10697 | $10674 |
| **04/16** | $10604 | $10755 | $10577 |
| **05/16** | $10980 | $10943 | $10782 |
| **06/16** | $10684 | $10968 | $10740 |
| **07/16** | $11278 | $11386 | $11247 |
| **08/16** | $11229 | $11401 | $11191 |
| **09/16** | $11347 | $11410 | $11232 |
| **10/16** | $11008 | $11187 | $10968 |
| **11/16** | $11181 | $11628 | $11207 |
| **12/16** | $11227 | $11847 | $11346 |
| **01/17** | $11685 | $12085 | $11728 |
| **02/17** | $12123 | $12553 | $12215 |
| **03/17** | $12290 | $12561 | $12356 |
| **04/17** | $12652 | $12694 | $12639 |
| **05/17** | $13117 | $12856 | $12968 |
| **06/17** | $13137 | $12945 | $12933 |
| **07/17** | $13538 | $13202 | $13277 |
| **08/17** | $13755 | $13243 | $13521 |
| **09/17** | $13776 | $13525 | $13696 |
| **10/17** | $14127 | $13835 | $14227 |
| **11/17** | $14373 | $14257 | $14659 |
| **12/17** | $14376 | $14416 | $14773 |
| **01/18** | $15479 | $15207 | $15820 |
| **02/18** | $15038 | $14649 | $15405 |
| **03/18** | $14758 | $14317 | $14982 |
| **04/18** | $14714 | $14365 | $15035 |
| **05/18** | $15391 | $14732 | $15694 |
| **06/18** | $15438 | $14827 | $15845 |
| **07/18** | $15896 | $15339 | $16310 |
| **08/18** | $16629 | $15868 | $17202 |
| **09/18** | $16759 | $15928 | $17298 |
| **10/18** | $15041 | $14801 | $15751 |
| **11/18** | $15232 | $15102 | $15918 |
| **12/18** | $13798 | $13726 | $14550 |
| **01/19** | $15156 | $14877 | $15858 |
| **02/19** | $15730 | $15380 | $16425 |
| **03/19** | $16093 | $15648 | $16892 |
| **04/19** | $16845 | $16280 | $17656 |
| **05/19** | $15665 | $15243 | $16540 |
| **06/19** | $16894 | $16313 | $17676 |
| **07/19** | $17191 | $16566 | $18075 |
| **08/19** | $16836 | $16263 | $17937 |
| **09/19** | $16886 | $16545 | $17939 |
| **10/19** | $17397 | $16895 | $18445 |
| **11/19** | $18238 | $17534 | $19263 |
| **12/19** | $18810 | $18040 | $19844 |
| **01/20** | $19189 | $18060 | $20288 |
| **02/20** | $17902 | $16584 | $18906 |
| **03/20** | $16263 | $14392 | $17046 |
| **04/20** | $18678 | $16294 | $19569 |
| **05/20** | $19938 | $17154 | $20883 |
| **06/20** | $20907 | $17533 | $21792 |
| **07/20** | $22421 | $18560 | $23469 |
| **08/20** | $24822 | $19922 | $25890 |
| **09/20** | $23664 | $19194 | $24672 |
| **10/20** | $22860 | $18731 | $23834 |
| **11/20** | $25318 | $20937 | $26275 |
| **12/20** | $26507 | $21822 | $27483 |
| **01/21** | $26448 | $21642 | $27280 |
| **02/21** | $27109 | $22269 | $27273 |
| **03/21** | $27188 | $23112 | $27742 |
| **04/21** | $29015 | $24356 | $29630 |
| **05/21** | $28442 | $24472 | $29220 |
| **06/21** | $29867 | $25085 | $31053 |
| **07/21** | $30766 | $25606 | $32076 |
| **08/21** | $31547 | $26347 | $33276 |
| **09/21** | $29835 | $25137 | $31412 |
| **10/21** | $31900 | $26881 | $34133 |
| **11/21** | $31280 | $26521 | $34341 |
| **12/21** | $31663 | $27595 | $35067 |
| **01/22** | $28722 | $26039 | $32058 |
| **02/22** | $27946 | $25325 | $30696 |
| **03/22** | $28013 | $26179 | $31897 |
| **04/22** | $25018 | $23846 | $28045 |
| **05/22** | $24510 | $23809 | $27393 |
| **06/22** | $22536 | $21815 | $25223 |
| **07/22** | $24701 | $23847 | $28251 |
| **08/22** | $23548 | $22931 | $26935 |
| **09/22** | $21161 | $20810 | $24316 |
| **10/22** | $22426 | $22479 | $25737 |
| **11/22** | $23943 | $23695 | $26910 |
| **12/22** | $22331 | $22317 | $24850 |
| **01/23** | $24496 | $23813 | $26921 |
| **02/23** | $23611 | $23246 | $26601 |
| **03/23** | $24685 | $23982 | $28420 |
| **04/23** | $24591 | $24279 | $28700 |
| **05/23** | $25128 | $24392 | $30008 |
| **06/23** | $26535 | $26039 | $32060 |
| **07/23** | $27514 | $26935 | $33140 |
| **08/23** | $26772 | $26464 | $32843 |
| **09/23** | $25302 | $25220 | $31057 |
| **10/23** | $24670 | $24610 | $30615 |
| **11/23** | $27751 | $26909 | $33952 |
| **12/23** | $29411 | $28237 | $35455 |
| **01/24** | $30043 | $28631 | $36340 |
| **02/24** | $31513 | $30177 | $38819 |
| **03/24** | $31939 | $31145 | $39502 |
| **04/24** | $30359 | $29819 | $37827 |
| **05/24** | $32176 | $31224 | $40091 |
| **06/24** | $34244 | $32257 | $42795 |
| **07/24** | $33133 | $32726 | $42067 |
| **08/24** | $34083 | $33502 | $42943 |
| **09/24** | $34824 | $34218 | $44160 |
| **10/24** | $34567 | $33979 | $44014 |
| **11/24** | $36741 | $36167 | $46868 |
| **12/24** | $36714 | $35159 | $47282 |
| **01/25** | $37478 | $36278 | $48217 |
| **02/25** | $36146 | $35643 | $46485 |
| **03/25** | $32474 | $33580 | $42569 |
| **04/25** | $33189 | $33381 | $43323 |
| **05/25** | $36048 | $35512 | $47156 |
| **06/25** | $38399 | $37310 | $50163 |
| **07/25** | $39868 | $38139 | $52057 |
| **08/25** | $40018 | $38942 | $52639 |
| **09/25** | $41538 | $40292 | $55435 |
| **10/25** | $43491 | $41161 | $57449 |
| **11/25** | $42973 | $41262 | $56407 |
| **12/25** | $42447 | $41264 | $56058 |
| **01/26** | $42208 | $41832 | $55210 |
| **02/26** | $40230 | $41608 | $53356 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 11.30 | 8.21 | 14.94 |
| Russell 1000<sup>®</sup> Index | 16.73 | 13.32 | 15.32 |
| Russell 1000<sup>®</sup> Growth Index | 14.78 | 14.36 | 18.23 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1209625976 |
| **Total number of portfolio holdings** | 43 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $9139308 |
| **Portfolio turnover for the reporting period** | 53% |

---

Columbia Large Cap Growth Opportunity Fund \| Institutional 2 Class **\|** ASR186_15_(04/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 14.2% |
| Technology Hardware, Storage & Peripherals | 6.9% |
| Electronic Manufacturing Services | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.4% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Microsoft Corp. | 10.4% |
| Alphabet, Inc., Class A | 7.6% |
| Apple, Inc. | 6.9% |
| Amazon.com, Inc. | 6.5% |
| Meta Platforms, Inc., Class A | 5.0% |
| Broadcom, Inc. | 4.9% |
| Eli Lilly & Co. | 4.2% |
| Visa, Inc., Class A | 3.1% |
| Costco Wholesale Corp. | 2.8% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 44.8% |
| Consumer Discretionary | 14.8% |
| Communication Services | 13.5% |
| Health Care | 10.2% |
| Industrials | 5.9% |
| Financials | 5.4% |
| Consumer Staples | 3.8% |
| Real Estate | 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, 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](g250382g50k50.jpg)

Columbia Large Cap Growth Opportunity Fund \| Institutional 2 Class **\|** ASR186_15_(04/26) \|

# Columbia Large Cap Growth Opportunity Fund
Institutional 3 Class \| CLRYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Growth Opportunity Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $74 | 0.70% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from relative Fund performance.

Columbia Large Cap Growth Opportunity Fund \| Institutional 3 Class **\|** ASR186_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g43f86.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Large Cap Growth Opportunity Fund Institutional 3 Class ($40263)** | **Russell 1000<sup>®</sup> Index ($41608)** | **Russell 1000<sup>®</sup> Growth Index ($53356)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10652 | $10697 | $10674 |
| **04/16** | $10599 | $10755 | $10577 |
| **05/16** | $10975 | $10943 | $10782 |
| **06/16** | $10679 | $10968 | $10740 |
| **07/16** | $11266 | $11386 | $11247 |
| **08/16** | $11213 | $11401 | $11191 |
| **09/16** | $11327 | $11410 | $11232 |
| **10/16** | $10984 | $11187 | $10968 |
| **11/16** | $11152 | $11628 | $11207 |
| **12/16** | $11202 | $11847 | $11346 |
| **01/17** | $11648 | $12085 | $11728 |
| **02/17** | $12085 | $12553 | $12215 |
| **03/17** | $12253 | $12561 | $12356 |
| **04/17** | $12611 | $12694 | $12639 |
| **05/17** | $13076 | $12856 | $12968 |
| **06/17** | $13104 | $12945 | $12933 |
| **07/17** | $13502 | $13202 | $13277 |
| **08/17** | $13719 | $13243 | $13521 |
| **09/17** | $13740 | $13525 | $13696 |
| **10/17** | $14095 | $13835 | $14227 |
| **11/17** | $14333 | $14257 | $14659 |
| **12/17** | $14339 | $14416 | $14773 |
| **01/18** | $15439 | $15207 | $15820 |
| **02/18** | $14999 | $14649 | $15405 |
| **03/18** | $14718 | $14317 | $14982 |
| **04/18** | $14673 | $14365 | $15035 |
| **05/18** | $15356 | $14732 | $15694 |
| **06/18** | $15398 | $14827 | $15845 |
| **07/18** | $15855 | $15339 | $16310 |
| **08/18** | $16581 | $15868 | $17202 |
| **09/18** | $16723 | $15928 | $17298 |
| **10/18** | $15003 | $14801 | $15751 |
| **11/18** | $15200 | $15102 | $15918 |
| **12/18** | $13766 | $13726 | $14550 |
| **01/19** | $15122 | $14877 | $15858 |
| **02/19** | $15691 | $15380 | $16425 |
| **03/19** | $16059 | $15648 | $16892 |
| **04/19** | $16804 | $16280 | $17656 |
| **05/19** | $15632 | $15243 | $16540 |
| **06/19** | $16854 | $16313 | $17676 |
| **07/19** | $17162 | $16566 | $18075 |
| **08/19** | $16803 | $16263 | $17937 |
| **09/19** | $16854 | $16545 | $17939 |
| **10/19** | $17367 | $16895 | $18445 |
| **11/19** | $18204 | $17534 | $19263 |
| **12/19** | $18771 | $18040 | $19844 |
| **01/20** | $19156 | $18060 | $20288 |
| **02/20** | $17874 | $16584 | $18906 |
| **03/20** | $16244 | $14392 | $17046 |
| **04/20** | $18652 | $16294 | $19569 |
| **05/20** | $19907 | $17154 | $20883 |
| **06/20** | $20876 | $17533 | $21792 |
| **07/20** | $22394 | $18560 | $23469 |
| **08/20** | $24789 | $19922 | $25890 |
| **09/20** | $23630 | $19194 | $24672 |
| **10/20** | $22823 | $18731 | $23834 |
| **11/20** | $25285 | $20937 | $26275 |
| **12/20** | $26465 | $21822 | $27483 |
| **01/21** | $26413 | $21642 | $27280 |
| **02/21** | $27073 | $22269 | $27273 |
| **03/21** | $27155 | $23112 | $27742 |
| **04/21** | $28979 | $24356 | $29630 |
| **05/21** | $28413 | $24472 | $29220 |
| **06/21** | $29826 | $25085 | $31053 |
| **07/21** | $30734 | $25606 | $32076 |
| **08/21** | $31508 | $26347 | $33276 |
| **09/21** | $29803 | $25137 | $31412 |
| **10/21** | $31867 | $26881 | $34133 |
| **11/21** | $31250 | $26521 | $34341 |
| **12/21** | $31628 | $27595 | $35067 |
| **01/22** | $28704 | $26039 | $32058 |
| **02/22** | $27923 | $25325 | $30696 |
| **03/22** | $27980 | $26179 | $31897 |
| **04/22** | $24999 | $23846 | $28045 |
| **05/22** | $24502 | $23809 | $27393 |
| **06/22** | $22519 | $21815 | $25223 |
| **07/22** | $24674 | $23847 | $28251 |
| **08/22** | $23537 | $22931 | $26935 |
| **09/22** | $21145 | $20810 | $24316 |
| **10/22** | $22417 | $22479 | $25737 |
| **11/22** | $23928 | $23695 | $26910 |
| **12/22** | $22333 | $22317 | $24850 |
| **01/23** | $24488 | $23813 | $26921 |
| **02/23** | $23588 | $23246 | $26601 |
| **03/23** | $24691 | $23982 | $28420 |
| **04/23** | $24573 | $24279 | $28700 |
| **05/23** | $25116 | $24392 | $30008 |
| **06/23** | $26541 | $26039 | $32060 |
| **07/23** | $27508 | $26935 | $33140 |
| **08/23** | $26762 | $26464 | $32843 |
| **09/23** | $25302 | $25220 | $31057 |
| **10/23** | $24657 | $24610 | $30615 |
| **11/23** | $27746 | $26909 | $33952 |
| **12/23** | $29409 | $28237 | $35455 |
| **01/24** | $30054 | $28631 | $36340 |
| **02/24** | $31530 | $30177 | $38819 |
| **03/24** | $31938 | $31145 | $39502 |
| **04/24** | $30359 | $29819 | $37827 |
| **05/24** | $32175 | $31224 | $40091 |
| **06/24** | $34260 | $32257 | $42795 |
| **07/24** | $33134 | $32726 | $42067 |
| **08/24** | $34104 | $33502 | $42943 |
| **09/24** | $34832 | $34218 | $44160 |
| **10/24** | $34589 | $33979 | $44014 |
| **11/24** | $36754 | $36167 | $46868 |
| **12/24** | $36743 | $35159 | $47282 |
| **01/25** | $37495 | $36278 | $48217 |
| **02/25** | $36166 | $35643 | $46485 |
| **03/25** | $32495 | $33580 | $42569 |
| **04/25** | $33212 | $33381 | $43323 |
| **05/25** | $36061 | $35512 | $47156 |
| **06/25** | $38433 | $37310 | $50163 |
| **07/25** | $39910 | $38139 | $52057 |
| **08/25** | $40054 | $38942 | $52639 |
| **09/25** | $41566 | $40292 | $55435 |
| **10/25** | $43528 | $41161 | $57449 |
| **11/25** | $43006 | $41262 | $56407 |
| **12/25** | $42492 | $41264 | $56058 |
| **01/26** | $42234 | $41832 | $55210 |
| **02/26** | $40263 | $41608 | $53356 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class<sup>Footnote Reference(a)</sup> | 11.33 | 8.26 | 14.95 |
| Russell 1000<sup>®</sup> Index | 16.73 | 13.32 | 15.32 |
| Russell 1000<sup>®</sup> Growth Index | 14.78 | 14.36 | 18.23 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to March 1, 2017 (including Since Fund Inception returns, if shown) include the returns of Class A. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1209625976 |
| **Total number of portfolio holdings** | 43 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $9139308 |
| **Portfolio turnover for the reporting period** | 53% |

---

Columbia Large Cap Growth Opportunity Fund \| Institutional 3 Class **\|** ASR186_17_(04/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 14.2% |
| Technology Hardware, Storage & Peripherals | 6.9% |
| Electronic Manufacturing Services | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.4% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Microsoft Corp. | 10.4% |
| Alphabet, Inc., Class A | 7.6% |
| Apple, Inc. | 6.9% |
| Amazon.com, Inc. | 6.5% |
| Meta Platforms, Inc., Class A | 5.0% |
| Broadcom, Inc. | 4.9% |
| Eli Lilly & Co. | 4.2% |
| Visa, Inc., Class A | 3.1% |
| Costco Wholesale Corp. | 2.8% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 44.8% |
| Consumer Discretionary | 14.8% |
| Communication Services | 13.5% |
| Health Care | 10.2% |
| Industrials | 5.9% |
| Financials | 5.4% |
| Consumer Staples | 3.8% |
| Real Estate | 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, 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](g250382g50k50.jpg)

Columbia Large Cap Growth Opportunity Fund \| Institutional 3 Class **\|** ASR186_17_(04/26) \|

# Columbia Large Cap Growth Opportunity Fund
Institutional Class \| NFEPX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Growth Opportunity Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $84 | 0.80% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials and consumer discretionary sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the information technology sector, alongside an overweight in the communication services sector, contributed to the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in Exact Sciences Corporation, a developer of molecular diagnostics and cancer screening tests; a relative overweight position in General Motors Company, a global automotive manufacturer; a relative overweight position in Parker-Hannifin Corporation, a provider of motion and control technologies; a relative overweight position in TE Connectivity plc, a designer and manufacturer of connectivity and sensor solutions; and a relative overweight position in General Dynamics Corporation, an aerospace and defense company, were among the top contributors to the Fund's relative performance.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, industrials, real estate and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** An underweight position in the energy sector, alongside overweight positions in the financials and consumer discretionary sectors, detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** A relative overweight position in ServiceNow, Inc., an enterprise workflow software provider; a relative overweight position in Broadcom Inc., a designer and manufacturer of semiconductor and infrastructure software solutions; a relative overweight position in Palo Alto Networks, Inc., a cybersecurity platform provider; a relative overweight position in Constellation Brands, Inc., a producer and marketer of alcoholic beverages; and a relative overweight position in Bristol-Myers Squibb Company, a global biopharmaceutical company, were among the top detractors from relative Fund performance.

Columbia Large Cap Growth Opportunity Fund \| Institutional Class **\|** ASR186_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g21g25.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Large Cap Growth Opportunity Fund Institutional Class ($39971)** | **Russell 1000<sup>®</sup> Index ($41608)** | **Russell 1000<sup>®</sup> Growth Index ($53356)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10654 | $10697 | $10674 |
| **04/16** | $10604 | $10755 | $10577 |
| **05/16** | $10985 | $10943 | $10782 |
| **06/16** | $10687 | $10968 | $10740 |
| **07/16** | $11280 | $11386 | $11247 |
| **08/16** | $11223 | $11401 | $11191 |
| **09/16** | $11344 | $11410 | $11232 |
| **10/16** | $11008 | $11187 | $10968 |
| **11/16** | $11180 | $11628 | $11207 |
| **12/16** | $11227 | $11847 | $11346 |
| **01/17** | $11680 | $12085 | $11728 |
| **02/17** | $12119 | $12553 | $12215 |
| **03/17** | $12285 | $12561 | $12356 |
| **04/17** | $12645 | $12694 | $12639 |
| **05/17** | $13105 | $12856 | $12968 |
| **06/17** | $13133 | $12945 | $12933 |
| **07/17** | $13526 | $13202 | $13277 |
| **08/17** | $13744 | $13243 | $13521 |
| **09/17** | $13766 | $13525 | $13696 |
| **10/17** | $14115 | $13835 | $14227 |
| **11/17** | $14362 | $14257 | $14659 |
| **12/17** | $14364 | $14416 | $14773 |
| **01/18** | $15462 | $15207 | $15820 |
| **02/18** | $15020 | $14649 | $15405 |
| **03/18** | $14738 | $14317 | $14982 |
| **04/18** | $14692 | $14365 | $15035 |
| **05/18** | $15378 | $14732 | $15694 |
| **06/18** | $15418 | $14827 | $15845 |
| **07/18** | $15870 | $15339 | $16310 |
| **08/18** | $16599 | $15868 | $17202 |
| **09/18** | $16734 | $15928 | $17298 |
| **10/18** | $15014 | $14801 | $15751 |
| **11/18** | $15212 | $15102 | $15918 |
| **12/18** | $13770 | $13726 | $14550 |
| **01/19** | $15133 | $14877 | $15858 |
| **02/19** | $15697 | $15380 | $16425 |
| **03/19** | $16058 | $15648 | $16892 |
| **04/19** | $16807 | $16280 | $17656 |
| **05/19** | $15629 | $15243 | $16540 |
| **06/19** | $16858 | $16313 | $17676 |
| **07/19** | $17158 | $16566 | $18075 |
| **08/19** | $16798 | $16263 | $17937 |
| **09/19** | $16849 | $16545 | $17939 |
| **10/19** | $17356 | $16895 | $18445 |
| **11/19** | $18197 | $17534 | $19263 |
| **12/19** | $18768 | $18040 | $19844 |
| **01/20** | $19145 | $18060 | $20288 |
| **02/20** | $17856 | $16584 | $18906 |
| **03/20** | $16226 | $14392 | $17046 |
| **04/20** | $18630 | $16294 | $19569 |
| **05/20** | $19891 | $17154 | $20883 |
| **06/20** | $20847 | $17533 | $21792 |
| **07/20** | $22365 | $18560 | $23469 |
| **08/20** | $24755 | $19922 | $25890 |
| **09/20** | $23599 | $19194 | $24672 |
| **10/20** | $22796 | $18731 | $23834 |
| **11/20** | $25244 | $20937 | $26275 |
| **12/20** | $26432 | $21822 | $27483 |
| **01/21** | $26369 | $21642 | $27280 |
| **02/21** | $27023 | $22269 | $27273 |
| **03/21** | $27095 | $23112 | $27742 |
| **04/21** | $28921 | $24356 | $29630 |
| **05/21** | $28351 | $24472 | $29220 |
| **06/21** | $29761 | $25085 | $31053 |
| **07/21** | $30664 | $25606 | $32076 |
| **08/21** | $31432 | $26347 | $33276 |
| **09/21** | $29739 | $25137 | $31412 |
| **10/21** | $31793 | $26881 | $34133 |
| **11/21** | $31161 | $26521 | $34341 |
| **12/21** | $31551 | $27595 | $35067 |
| **01/22** | $28618 | $26039 | $32058 |
| **02/22** | $27831 | $25325 | $30696 |
| **03/22** | $27903 | $26179 | $31897 |
| **04/22** | $24926 | $23846 | $28045 |
| **05/22** | $24426 | $23809 | $27393 |
| **06/22** | $22459 | $21815 | $25223 |
| **07/22** | $24602 | $23847 | $28251 |
| **08/22** | $23453 | $22931 | $26935 |
| **09/22** | $21070 | $20810 | $24316 |
| **10/22** | $22339 | $22479 | $25737 |
| **11/22** | $23830 | $23695 | $26910 |
| **12/22** | $22236 | $22317 | $24850 |
| **01/23** | $24396 | $23813 | $26921 |
| **02/23** | $23505 | $23246 | $26601 |
| **03/23** | $24585 | $23982 | $28420 |
| **04/23** | $24482 | $24279 | $28700 |
| **05/23** | $25013 | $24392 | $30008 |
| **06/23** | $26419 | $26039 | $32060 |
| **07/23** | $27379 | $26935 | $33140 |
| **08/23** | $26642 | $26464 | $32843 |
| **09/23** | $25185 | $25220 | $31057 |
| **10/23** | $24550 | $24610 | $30615 |
| **11/23** | $27619 | $26909 | $33952 |
| **12/23** | $29265 | $28237 | $35455 |
| **01/24** | $29899 | $28631 | $36340 |
| **02/24** | $31374 | $30177 | $38819 |
| **03/24** | $31785 | $31145 | $39502 |
| **04/24** | $30208 | $29819 | $37827 |
| **05/24** | $32008 | $31224 | $40091 |
| **06/24** | $34080 | $32257 | $42795 |
| **07/24** | $32960 | $32726 | $42067 |
| **08/24** | $33923 | $33502 | $42943 |
| **09/24** | $34641 | $34218 | $44160 |
| **10/24** | $34395 | $33979 | $44014 |
| **11/24** | $36548 | $36167 | $46868 |
| **12/24** | $36519 | $35159 | $47282 |
| **01/25** | $37279 | $36278 | $48217 |
| **02/25** | $35954 | $35643 | $46485 |
| **03/25** | $32297 | $33580 | $42569 |
| **04/25** | $33003 | $33381 | $43323 |
| **05/25** | $35848 | $35512 | $47156 |
| **06/25** | $38175 | $37310 | $50163 |
| **07/25** | $39649 | $38139 | $52057 |
| **08/25** | $39795 | $38942 | $52639 |
| **09/25** | $41288 | $40292 | $55435 |
| **10/25** | $43236 | $41161 | $57449 |
| **11/25** | $42726 | $41262 | $56407 |
| **12/25** | $42207 | $41264 | $56058 |
| **01/26** | $41946 | $41832 | $55210 |
| **02/26** | $39971 | $41608 | $53356 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 11.17 | 8.14 | 14.86 |
| Russell 1000<sup>®</sup> Index | 16.73 | 13.32 | 15.32 |
| Russell 1000<sup>®</sup> Growth Index | 14.78 | 14.36 | 18.23 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1209625976 |
| **Total number of portfolio holdings** | 43 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $9139308 |
| **Portfolio turnover for the reporting period** | 53% |

---

Columbia Large Cap Growth Opportunity Fund \| Institutional Class **\|** ASR186_08_(04/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 14.2% |
| Technology Hardware, Storage & Peripherals | 6.9% |
| Electronic Manufacturing Services | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.4% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Microsoft Corp. | 10.4% |
| Alphabet, Inc., Class A | 7.6% |
| Apple, Inc. | 6.9% |
| Amazon.com, Inc. | 6.5% |
| Meta Platforms, Inc., Class A | 5.0% |
| Broadcom, Inc. | 4.9% |
| Eli Lilly & Co. | 4.2% |
| Visa, Inc., Class A | 3.1% |
| Costco Wholesale Corp. | 2.8% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 44.8% |
| Consumer Discretionary | 14.8% |
| Communication Services | 13.5% |
| Health Care | 10.2% |
| Industrials | 5.9% |
| Financials | 5.4% |
| Consumer Staples | 3.8% |
| Real Estate | 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, 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](g250382g50k50.jpg)

Columbia Large Cap Growth Opportunity Fund \| Institutional Class **\|** ASR186_08_(04/26) \|

# Columbia Large Cap Index Fund
Class A \| NEIAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | 0.45% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The information technology, communication services and industrials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in NVIDIA, a developer and provider of AI solutions for various applications; Alphabet, the parent company of Google; Microsoft, a leading developer of computer software, operating systems and applications; Broadcom, a semiconductor company; and JPMorgan Chase, one of the world's largest diversified banking and financial institutions, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors \|** The real estate, financials and materials sectors were the weakest performing sectors on an absolute basis.

**Individual holdings \|** Fund positions in UnitedHealth Group, a managed health care and health insurance company; Fiserv, a financial technology and payments processing company; Accenture, a technology consulting company; Salesforce, a cloud-based enterprise software company; and Adobe, a cloud-based application software and digital experience provider, were among the top absolute detractors from Fund performance during the period.

Columbia Large Cap Index Fund \| Class A **\|** ASR175_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g55j71.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Index Fund Class A ($40388)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10675 | $10678 |
| **04/16** | $10713 | $10720 |
| **05/16** | $10899 | $10912 |
| **06/16** | $10925 | $10941 |
| **07/16** | $11322 | $11344 |
| **08/16** | $11336 | $11360 |
| **09/16** | $11333 | $11362 |
| **10/16** | $11119 | $11155 |
| **11/16** | $11528 | $11568 |
| **12/16** | $11752 | $11797 |
| **01/17** | $11969 | $12020 |
| **02/17** | $12440 | $12498 |
| **03/17** | $12451 | $12512 |
| **04/17** | $12573 | $12641 |
| **05/17** | $12746 | $12818 |
| **06/17** | $12820 | $12898 |
| **07/17** | $13078 | $13164 |
| **08/17** | $13114 | $13204 |
| **09/17** | $13381 | $13476 |
| **10/17** | $13687 | $13791 |
| **11/17** | $14101 | $14214 |
| **12/17** | $14255 | $14372 |
| **01/18** | $15066 | $15195 |
| **02/18** | $14505 | $14635 |
| **03/18** | $14131 | $14263 |
| **04/18** | $14180 | $14317 |
| **05/18** | $14513 | $14662 |
| **06/18** | $14598 | $14753 |
| **07/18** | $15136 | $15302 |
| **08/18** | $15622 | $15800 |
| **09/18** | $15705 | $15890 |
| **10/18** | $14624 | $14804 |
| **11/18** | $14917 | $15106 |
| **12/18** | $13564 | $13742 |
| **01/19** | $14646 | $14843 |
| **02/19** | $15112 | $15320 |
| **03/19** | $15400 | $15617 |
| **04/19** | $16017 | $16250 |
| **05/19** | $14994 | $15217 |
| **06/19** | $16045 | $16289 |
| **07/19** | $16269 | $16523 |
| **08/19** | $16005 | $16262 |
| **09/19** | $16299 | $16566 |
| **10/19** | $16645 | $16925 |
| **11/19** | $17243 | $17539 |
| **12/19** | $17757 | $18069 |
| **01/20** | $17743 | $18061 |
| **02/20** | $16276 | $16575 |
| **03/20** | $14259 | $14527 |
| **04/20** | $16082 | $16390 |
| **05/20** | $16842 | $17170 |
| **06/20** | $17169 | $17512 |
| **07/20** | $18130 | $18499 |
| **08/20** | $19425 | $19829 |
| **09/20** | $18679 | $19076 |
| **10/20** | $18173 | $18568 |
| **11/20** | $20157 | $20601 |
| **12/20** | $20924 | $21393 |
| **01/21** | $20704 | $21177 |
| **02/21** | $21270 | $21761 |
| **03/21** | $22194 | $22714 |
| **04/21** | $23367 | $23926 |
| **05/21** | $23523 | $24093 |
| **06/21** | $24063 | $24656 |
| **07/21** | $24626 | $25241 |
| **08/21** | $25363 | $26009 |
| **09/21** | $24175 | $24799 |
| **10/21** | $25860 | $26537 |
| **11/21** | $25671 | $26353 |
| **12/21** | $26810 | $27534 |
| **01/22** | $25410 | $26109 |
| **02/22** | $24644 | $25327 |
| **03/22** | $25550 | $26268 |
| **04/22** | $23315 | $23977 |
| **05/22** | $23345 | $24021 |
| **06/22** | $21415 | $22038 |
| **07/22** | $23379 | $24070 |
| **08/22** | $22418 | $23089 |
| **09/22** | $20347 | $20962 |
| **10/22** | $21999 | $22659 |
| **11/22** | $23223 | $23926 |
| **12/22** | $21878 | $22547 |
| **01/23** | $23241 | $23964 |
| **02/23** | $22668 | $23379 |
| **03/23** | $23488 | $24238 |
| **04/23** | $23849 | $24616 |
| **05/23** | $23943 | $24723 |
| **06/23** | $25516 | $26357 |
| **07/23** | $26327 | $27203 |
| **08/23** | $25899 | $26770 |
| **09/23** | $24654 | $25494 |
| **10/23** | $24123 | $24958 |
| **11/23** | $26317 | $27237 |
| **12/23** | $27502 | $28474 |
| **01/24** | $27954 | $28953 |
| **02/24** | $29437 | $30499 |
| **03/24** | $30375 | $31480 |
| **04/24** | $29119 | $30194 |
| **05/24** | $30553 | $31692 |
| **06/24** | $31639 | $32829 |
| **07/24** | $32010 | $33228 |
| **08/24** | $32774 | $34034 |
| **09/24** | $33462 | $34761 |
| **10/24** | $33145 | $34446 |
| **11/24** | $35078 | $36468 |
| **12/24** | $34225 | $35599 |
| **01/25** | $35166 | $36590 |
| **02/25** | $34687 | $36113 |
| **03/25** | $32718 | $34078 |
| **04/25** | $32484 | $33847 |
| **05/25** | $34518 | $35977 |
| **06/25** | $36257 | $37807 |
| **07/25** | $37057 | $38655 |
| **08/25** | $37798 | $39439 |
| **09/25** | $39162 | $40878 |
| **10/25** | $40060 | $41835 |
| **11/25** | $40145 | $41938 |
| **12/25** | $40147 | $41964 |
| **01/26** | $40712 | $42572 |
| **02/26** | $40388 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A | 16.43 | 13.68 | 14.98 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $3017509210 |
| **Total number of portfolio holdings** | 506 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $6165959 |
| **Portfolio turnover for the reporting period** | 5% |

---

Columbia Large Cap Index Fund \| Class A **\|** ASR175_01_(04/26) \|

## 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 | 31.9% |
| Financials | 12.3% |
| Communication Services | 10.4% |
| Consumer Discretionary | 9.8% |
| Health Care | 9.7% |
| Industrials | 9.1% |
| Consumer Staples | 5.4% |
| Energy | 3.4% |
| Utilities | 2.5% |
| Materials | 2.1% |
| Other | 2.0% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.2% |
| Apple, Inc. | 6.5% |
| Microsoft Corp. | 4.9% |
| Amazon.com, Inc. | 3.4% |
| Alphabet, Inc., Class A | 3.0% |
| Broadcom, Inc. | 2.5% |
| Alphabet, Inc., Class C | 2.4% |
| Meta Platforms, Inc., Class A | 2.4% |
| Tesla, Inc. | 1.9% |
| Berkshire Hathaway, Inc., Class B | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.6% |
| 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](g250382g50k50.jpg)

Columbia Large Cap Index Fund \| Class A **\|** ASR175_01_(04/26) \|

# Columbia Large Cap Index Fund
Institutional 2 Class \| CLXRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The information technology, communication services and industrials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in NVIDIA, a developer and provider of AI solutions for various applications; Alphabet, the parent company of Google; Microsoft, a leading developer of computer software, operating systems and applications; Broadcom, a semiconductor company; and JPMorgan Chase, one of the world's largest diversified banking and financial institutions, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors \|** The real estate, financials and materials sectors were the weakest performing sectors on an absolute basis.

**Individual holdings \|** Fund positions in UnitedHealth Group, a managed health care and health insurance company; Fiserv, a financial technology and payments processing company; Accenture, a technology consulting company; Salesforce, a cloud-based enterprise software company; and Adobe, a cloud-based application software and digital experience provider, were among the top absolute detractors from Fund performance during the period.

Columbia Large Cap Index Fund \| Institutional 2 Class **\|** ASR175_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g94l39.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Index Fund Institutional 2 Class ($41416)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10676 | $10678 |
| **04/16** | $10716 | $10720 |
| **05/16** | $10907 | $10912 |
| **06/16** | $10934 | $10941 |
| **07/16** | $11336 | $11344 |
| **08/16** | $11349 | $11360 |
| **09/16** | $11349 | $11362 |
| **10/16** | $11139 | $11155 |
| **11/16** | $11551 | $11568 |
| **12/16** | $11778 | $11797 |
| **01/17** | $11998 | $12020 |
| **02/17** | $12473 | $12498 |
| **03/17** | $12484 | $12512 |
| **04/17** | $12611 | $12641 |
| **05/17** | $12787 | $12818 |
| **06/17** | $12864 | $12898 |
| **07/17** | $13127 | $13164 |
| **08/17** | $13166 | $13204 |
| **09/17** | $13434 | $13476 |
| **10/17** | $13746 | $13791 |
| **11/17** | $14165 | $14214 |
| **12/17** | $14322 | $14372 |
| **01/18** | $15139 | $15195 |
| **02/18** | $14577 | $14635 |
| **03/18** | $14205 | $14263 |
| **04/18** | $14256 | $14317 |
| **05/18** | $14597 | $14662 |
| **06/18** | $14683 | $14753 |
| **07/18** | $15229 | $15302 |
| **08/18** | $15722 | $15800 |
| **09/18** | $15809 | $15890 |
| **10/18** | $14724 | $14804 |
| **11/18** | $15021 | $15106 |
| **12/18** | $13663 | $13742 |
| **01/19** | $14754 | $14843 |
| **02/19** | $15226 | $15320 |
| **03/19** | $15520 | $15617 |
| **04/19** | $16147 | $16250 |
| **05/19** | $15115 | $15217 |
| **06/19** | $16180 | $16289 |
| **07/19** | $16408 | $16523 |
| **08/19** | $16147 | $16262 |
| **09/19** | $16447 | $16566 |
| **10/19** | $16799 | $16925 |
| **11/19** | $17408 | $17539 |
| **12/19** | $17930 | $18069 |
| **01/20** | $17919 | $18061 |
| **02/20** | $16440 | $16575 |
| **03/20** | $14408 | $14527 |
| **04/20** | $16253 | $16390 |
| **05/20** | $17023 | $17170 |
| **06/20** | $17357 | $17512 |
| **07/20** | $18334 | $18499 |
| **08/20** | $19647 | $19829 |
| **09/20** | $18897 | $19076 |
| **10/20** | $18390 | $18568 |
| **11/20** | $20401 | $20601 |
| **12/20** | $21181 | $21393 |
| **01/21** | $20961 | $21177 |
| **02/21** | $21538 | $21761 |
| **03/21** | $22476 | $22714 |
| **04/21** | $23672 | $23926 |
| **05/21** | $23834 | $24093 |
| **06/21** | $24386 | $24656 |
| **07/21** | $24961 | $25241 |
| **08/21** | $25719 | $26009 |
| **09/21** | $24516 | $24799 |
| **10/21** | $26229 | $26537 |
| **11/21** | $26043 | $26353 |
| **12/21** | $27207 | $27534 |
| **01/22** | $25793 | $26109 |
| **02/22** | $25017 | $25327 |
| **03/22** | $25944 | $26268 |
| **04/22** | $23676 | $23977 |
| **05/22** | $23715 | $24021 |
| **06/22** | $21757 | $22038 |
| **07/22** | $23760 | $24070 |
| **08/22** | $22786 | $23089 |
| **09/22** | $20683 | $20962 |
| **10/22** | $22373 | $22659 |
| **11/22** | $23619 | $23926 |
| **12/22** | $22255 | $22547 |
| **01/23** | $23651 | $23964 |
| **02/23** | $23068 | $23379 |
| **03/23** | $23909 | $24238 |
| **04/23** | $24279 | $24616 |
| **05/23** | $24381 | $24723 |
| **06/23** | $25993 | $26357 |
| **07/23** | $26821 | $27203 |
| **08/23** | $26389 | $26770 |
| **09/23** | $25124 | $25494 |
| **10/23** | $24592 | $24958 |
| **11/23** | $26836 | $27237 |
| **12/23** | $28050 | $28474 |
| **01/24** | $28517 | $28953 |
| **02/24** | $30034 | $30499 |
| **03/24** | $30994 | $31480 |
| **04/24** | $29721 | $30194 |
| **05/24** | $31190 | $31692 |
| **06/24** | $32308 | $32829 |
| **07/24** | $32694 | $33228 |
| **08/24** | $33478 | $34034 |
| **09/24** | $34187 | $34761 |
| **10/24** | $33870 | $34446 |
| **11/24** | $35852 | $36468 |
| **12/24** | $34992 | $35599 |
| **01/25** | $35957 | $36590 |
| **02/25** | $35480 | $36113 |
| **03/25** | $33475 | $34078 |
| **04/25** | $33239 | $33847 |
| **05/25** | $35325 | $35977 |
| **06/25** | $37119 | $37807 |
| **07/25** | $37940 | $38655 |
| **08/25** | $38704 | $39439 |
| **09/25** | $40110 | $40878 |
| **10/25** | $41040 | $41835 |
| **11/25** | $41137 | $41938 |
| **12/25** | $41152 | $41964 |
| **01/26** | $41739 | $42572 |
| **02/26** | $41416 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 16.73 | 13.97 | 15.27 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $3017509210 |
| **Total number of portfolio holdings** | 506 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $6165959 |
| **Portfolio turnover for the reporting period** | 5% |

---

Columbia Large Cap Index Fund \| Institutional 2 Class **\|** ASR175_15_(04/26) \|

## 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 | 31.9% |
| Financials | 12.3% |
| Communication Services | 10.4% |
| Consumer Discretionary | 9.8% |
| Health Care | 9.7% |
| Industrials | 9.1% |
| Consumer Staples | 5.4% |
| Energy | 3.4% |
| Utilities | 2.5% |
| Materials | 2.1% |
| Other | 2.0% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.2% |
| Apple, Inc. | 6.5% |
| Microsoft Corp. | 4.9% |
| Amazon.com, Inc. | 3.4% |
| Alphabet, Inc., Class A | 3.0% |
| Broadcom, Inc. | 2.5% |
| Alphabet, Inc., Class C | 2.4% |
| Meta Platforms, Inc., Class A | 2.4% |
| Tesla, Inc. | 1.9% |
| Berkshire Hathaway, Inc., Class B | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.6% |
| 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](g250382g50k50.jpg)

Columbia Large Cap Index Fund \| Institutional 2 Class **\|** ASR175_15_(04/26) \|

# Columbia Large Cap Index Fund
Institutional 3 Class \| CLPYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The information technology, communication services and industrials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in NVIDIA, a developer and provider of AI solutions for various applications; Alphabet, the parent company of Google; Microsoft, a leading developer of computer software, operating systems and applications; Broadcom, a semiconductor company; and JPMorgan Chase, one of the world's largest diversified banking and financial institutions, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors \|** The real estate, financials and materials sectors were the weakest performing sectors on an absolute basis.

**Individual holdings \|** Fund positions in UnitedHealth Group, a managed health care and health insurance company; Fiserv, a financial technology and payments processing company; Accenture, a technology consulting company; Salesforce, a cloud-based enterprise software company; and Adobe, a cloud-based application software and digital experience provider, were among the top absolute detractors from Fund performance during the period.

Columbia Large Cap Index Fund \| Institutional 3 Class **\|** ASR175_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g64z32.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Index Fund Institutional 3 Class ($41424)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10677 | $10678 |
| **04/16** | $10717 | $10720 |
| **05/16** | $10908 | $10912 |
| **06/16** | $10933 | $10941 |
| **07/16** | $11337 | $11344 |
| **08/16** | $11350 | $11360 |
| **09/16** | $11350 | $11362 |
| **10/16** | $11140 | $11155 |
| **11/16** | $11550 | $11568 |
| **12/16** | $11777 | $11797 |
| **01/17** | $11997 | $12020 |
| **02/17** | $12472 | $12498 |
| **03/17** | $12487 | $12512 |
| **04/17** | $12612 | $12641 |
| **05/17** | $12788 | $12818 |
| **06/17** | $12867 | $12898 |
| **07/17** | $13129 | $13164 |
| **08/17** | $13168 | $13204 |
| **09/17** | $13438 | $13476 |
| **10/17** | $13748 | $13791 |
| **11/17** | $14167 | $14214 |
| **12/17** | $14322 | $14372 |
| **01/18** | $15143 | $15195 |
| **02/18** | $14579 | $14635 |
| **03/18** | $14209 | $14263 |
| **04/18** | $14258 | $14317 |
| **05/18** | $14600 | $14662 |
| **06/18** | $14688 | $14753 |
| **07/18** | $15232 | $15302 |
| **08/18** | $15725 | $15800 |
| **09/18** | $15812 | $15890 |
| **10/18** | $14727 | $14804 |
| **11/18** | $15025 | $15106 |
| **12/18** | $13665 | $13742 |
| **01/19** | $14758 | $14843 |
| **02/19** | $15229 | $15320 |
| **03/19** | $15526 | $15617 |
| **04/19** | $16150 | $16250 |
| **05/19** | $15121 | $15217 |
| **06/19** | $16184 | $16289 |
| **07/19** | $16416 | $16523 |
| **08/19** | $16154 | $16262 |
| **09/19** | $16453 | $16566 |
| **10/19** | $16807 | $16925 |
| **11/19** | $17415 | $17539 |
| **12/19** | $17935 | $18069 |
| **01/20** | $17928 | $18061 |
| **02/20** | $16446 | $16575 |
| **03/20** | $14411 | $14527 |
| **04/20** | $16256 | $16390 |
| **05/20** | $17028 | $17170 |
| **06/20** | $17363 | $17512 |
| **07/20** | $18339 | $18499 |
| **08/20** | $19655 | $19829 |
| **09/20** | $18903 | $19076 |
| **10/20** | $18397 | $18568 |
| **11/20** | $20407 | $20601 |
| **12/20** | $21186 | $21393 |
| **01/21** | $20969 | $21177 |
| **02/21** | $21545 | $21761 |
| **03/21** | $22484 | $22714 |
| **04/21** | $23682 | $23926 |
| **05/21** | $23842 | $24093 |
| **06/21** | $24397 | $24656 |
| **07/21** | $24970 | $25241 |
| **08/21** | $25726 | $26009 |
| **09/21** | $24523 | $24799 |
| **10/21** | $26240 | $26537 |
| **11/21** | $26050 | $26353 |
| **12/21** | $27217 | $27534 |
| **01/22** | $25803 | $26109 |
| **02/22** | $25029 | $25327 |
| **03/22** | $25952 | $26268 |
| **04/22** | $23687 | $23977 |
| **05/22** | $23723 | $24021 |
| **06/22** | $21765 | $22038 |
| **07/22** | $23766 | $24070 |
| **08/22** | $22794 | $23089 |
| **09/22** | $20688 | $20962 |
| **10/22** | $22376 | $22659 |
| **11/22** | $23623 | $23926 |
| **12/22** | $22257 | $22547 |
| **01/23** | $23657 | $23964 |
| **02/23** | $23075 | $23379 |
| **03/23** | $23917 | $24238 |
| **04/23** | $24285 | $24616 |
| **05/23** | $24387 | $24723 |
| **06/23** | $25998 | $26357 |
| **07/23** | $26827 | $27203 |
| **08/23** | $26394 | $26770 |
| **09/23** | $25132 | $25494 |
| **10/23** | $24599 | $24958 |
| **11/23** | $26843 | $27237 |
| **12/23** | $28057 | $28474 |
| **01/24** | $28521 | $28953 |
| **02/24** | $30043 | $30499 |
| **03/24** | $30999 | $31480 |
| **04/24** | $29729 | $30194 |
| **05/24** | $31201 | $31692 |
| **06/24** | $32312 | $32829 |
| **07/24** | $32698 | $33228 |
| **08/24** | $33492 | $34034 |
| **09/24** | $34200 | $34761 |
| **10/24** | $33883 | $34446 |
| **11/24** | $35867 | $36468 |
| **12/24** | $34998 | $35599 |
| **01/25** | $35967 | $36590 |
| **02/25** | $35492 | $36113 |
| **03/25** | $33482 | $34078 |
| **04/25** | $33245 | $33847 |
| **05/25** | $35333 | $35977 |
| **06/25** | $37125 | $37807 |
| **07/25** | $37947 | $38655 |
| **08/25** | $38714 | $39439 |
| **09/25** | $40118 | $40878 |
| **10/25** | $41050 | $41835 |
| **11/25** | $41146 | $41938 |
| **12/25** | $41155 | $41964 |
| **01/26** | $41748 | $42572 |
| **02/26** | $41424 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class<sup>Footnote Reference(a)</sup> | 16.71 | 13.97 | 15.27 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to March 1, 2017 (including Since Fund Inception returns, if shown) include the returns of Institutional Class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $3017509210 |
| **Total number of portfolio holdings** | 506 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $6165959 |
| **Portfolio turnover for the reporting period** | 5% |

---

Columbia Large Cap Index Fund \| Institutional 3 Class **\|** ASR175_17_(04/26) \|

## 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 | 31.9% |
| Financials | 12.3% |
| Communication Services | 10.4% |
| Consumer Discretionary | 9.8% |
| Health Care | 9.7% |
| Industrials | 9.1% |
| Consumer Staples | 5.4% |
| Energy | 3.4% |
| Utilities | 2.5% |
| Materials | 2.1% |
| Other | 2.0% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.2% |
| Apple, Inc. | 6.5% |
| Microsoft Corp. | 4.9% |
| Amazon.com, Inc. | 3.4% |
| Alphabet, Inc., Class A | 3.0% |
| Broadcom, Inc. | 2.5% |
| Alphabet, Inc., Class C | 2.4% |
| Meta Platforms, Inc., Class A | 2.4% |
| Tesla, Inc. | 1.9% |
| Berkshire Hathaway, Inc., Class B | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.6% |
| 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](g250382g50k50.jpg)

Columbia Large Cap Index Fund \| Institutional 3 Class **\|** ASR175_17_(04/26) \|

# Columbia Large Cap Index Fund
Institutional Class \| NINDX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Large Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The information technology, communication services and industrials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in NVIDIA, a developer and provider of AI solutions for various applications; Alphabet, the parent company of Google; Microsoft, a leading developer of computer software, operating systems and applications; Broadcom, a semiconductor company; and JPMorgan Chase, one of the world's largest diversified banking and financial institutions, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors \|** The real estate, financials and materials sectors were the weakest performing sectors on an absolute basis.

**Individual holdings \|** Fund positions in UnitedHealth Group, a managed health care and health insurance company; Fiserv, a financial technology and payments processing company; Accenture, a technology consulting company; Salesforce, a cloud-based enterprise software company; and Adobe, a cloud-based application software and digital experience provider, were among the top absolute detractors from Fund performance during the period.

Columbia Large Cap Index Fund \| Institutional Class **\|** ASR175_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g80m41.jpg)

---

| | | |
|:---|:---|:---|
| | **Columbia Large Cap Index Fund Institutional Class ($41410)** | **S&P 500<sup>®</sup> Index ($42249)** |
| **02/16** | $10000 | $10000 |
| **03/16** | $10677 | $10678 |
| **04/16** | $10717 | $10720 |
| **05/16** | $10908 | $10912 |
| **06/16** | $10933 | $10941 |
| **07/16** | $11337 | $11344 |
| **08/16** | $11350 | $11360 |
| **09/16** | $11350 | $11362 |
| **10/16** | $11140 | $11155 |
| **11/16** | $11550 | $11568 |
| **12/16** | $11777 | $11797 |
| **01/17** | $11997 | $12020 |
| **02/17** | $12472 | $12498 |
| **03/17** | $12483 | $12512 |
| **04/17** | $12610 | $12641 |
| **05/17** | $12786 | $12818 |
| **06/17** | $12864 | $12898 |
| **07/17** | $13127 | $13164 |
| **08/17** | $13163 | $13204 |
| **09/17** | $13435 | $13476 |
| **10/17** | $13746 | $13791 |
| **11/17** | $14165 | $14214 |
| **12/17** | $14321 | $14372 |
| **01/18** | $15138 | $15195 |
| **02/18** | $14577 | $14635 |
| **03/18** | $14203 | $14263 |
| **04/18** | $14255 | $14317 |
| **05/18** | $14597 | $14662 |
| **06/18** | $14684 | $14753 |
| **07/18** | $15229 | $15302 |
| **08/18** | $15720 | $15800 |
| **09/18** | $15809 | $15890 |
| **10/18** | $14723 | $14804 |
| **11/18** | $15022 | $15106 |
| **12/18** | $13662 | $13742 |
| **01/19** | $14753 | $14843 |
| **02/19** | $15227 | $15320 |
| **03/19** | $15518 | $15617 |
| **04/19** | $16145 | $16250 |
| **05/19** | $15117 | $15217 |
| **06/19** | $16179 | $16289 |
| **07/19** | $16410 | $16523 |
| **08/19** | $16146 | $16262 |
| **09/19** | $16447 | $16566 |
| **10/19** | $16801 | $16925 |
| **11/19** | $17406 | $17539 |
| **12/19** | $17930 | $18069 |
| **01/20** | $17919 | $18061 |
| **02/20** | $16440 | $16575 |
| **03/20** | $14406 | $14527 |
| **04/20** | $16253 | $16390 |
| **05/20** | $17022 | $17170 |
| **06/20** | $17358 | $17512 |
| **07/20** | $18334 | $18499 |
| **08/20** | $19648 | $19829 |
| **09/20** | $18895 | $19076 |
| **10/20** | $18388 | $18568 |
| **11/20** | $20400 | $20601 |
| **12/20** | $21180 | $21393 |
| **01/21** | $20963 | $21177 |
| **02/21** | $21540 | $21761 |
| **03/21** | $22476 | $22714 |
| **04/21** | $23674 | $23926 |
| **05/21** | $23835 | $24093 |
| **06/21** | $24386 | $24656 |
| **07/21** | $24960 | $25241 |
| **08/21** | $25717 | $26009 |
| **09/21** | $24514 | $24799 |
| **10/21** | $26229 | $26537 |
| **11/21** | $26043 | $26353 |
| **12/21** | $27206 | $27534 |
| **01/22** | $25792 | $26109 |
| **02/22** | $25018 | $25327 |
| **03/22** | $25942 | $26268 |
| **04/22** | $23675 | $23977 |
| **05/22** | $23714 | $24021 |
| **06/22** | $21755 | $22038 |
| **07/22** | $23761 | $24070 |
| **08/22** | $22783 | $23089 |
| **09/22** | $20685 | $20962 |
| **10/22** | $22371 | $22659 |
| **11/22** | $23617 | $23926 |
| **12/22** | $22255 | $22547 |
| **01/23** | $23650 | $23964 |
| **02/23** | $23067 | $23379 |
| **03/23** | $23909 | $24238 |
| **04/23** | $24277 | $24616 |
| **05/23** | $24382 | $24723 |
| **06/23** | $25993 | $26357 |
| **07/23** | $26821 | $27203 |
| **08/23** | $26389 | $26770 |
| **09/23** | $25123 | $25494 |
| **10/23** | $24593 | $24958 |
| **11/23** | $26831 | $27237 |
| **12/23** | $28049 | $28474 |
| **01/24** | $28512 | $28953 |
| **02/24** | $30030 | $30499 |
| **03/24** | $30994 | $31480 |
| **04/24** | $29720 | $30194 |
| **05/24** | $31190 | $31692 |
| **06/24** | $32304 | $32829 |
| **07/24** | $32690 | $33228 |
| **08/24** | $33478 | $34034 |
| **09/24** | $34189 | $34761 |
| **10/24** | $33869 | $34446 |
| **11/24** | $35854 | $36468 |
| **12/24** | $34993 | $35599 |
| **01/25** | $35956 | $36590 |
| **02/25** | $35478 | $36113 |
| **03/25** | $33469 | $34078 |
| **04/25** | $33238 | $33847 |
| **05/25** | $35324 | $35977 |
| **06/25** | $37115 | $37807 |
| **07/25** | $37943 | $38655 |
| **08/25** | $38705 | $39439 |
| **09/25** | $40109 | $40878 |
| **10/25** | $41043 | $41835 |
| **11/25** | $41135 | $41938 |
| **12/25** | $41151 | $41964 |
| **01/26** | $41737 | $42572 |
| **02/26** | $41410 | $42249 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 16.72 | 13.97 | 15.27 |
| S&P 500<sup>®</sup> Index | 16.99 | 14.19 | 15.50 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $3017509210 |
| **Total number of portfolio holdings** | 506 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $6165959 |
| **Portfolio turnover for the reporting period** | 5% |

---

Columbia Large Cap Index Fund \| Institutional Class **\|** ASR175_08_(04/26) \|

## 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 | 31.9% |
| Financials | 12.3% |
| Communication Services | 10.4% |
| Consumer Discretionary | 9.8% |
| Health Care | 9.7% |
| Industrials | 9.1% |
| Consumer Staples | 5.4% |
| Energy | 3.4% |
| Utilities | 2.5% |
| Materials | 2.1% |
| Other | 2.0% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 7.2% |
| Apple, Inc. | 6.5% |
| Microsoft Corp. | 4.9% |
| Amazon.com, Inc. | 3.4% |
| Alphabet, Inc., Class A | 3.0% |
| Broadcom, Inc. | 2.5% |
| Alphabet, Inc., Class C | 2.4% |
| Meta Platforms, Inc., Class A | 2.4% |
| Tesla, Inc. | 1.9% |
| Berkshire Hathaway, Inc., Class B | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.6% |
| 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](g250382g50k50.jpg)

Columbia Large Cap Index Fund \| Institutional Class **\|** ASR175_08_(04/26) \|

# Columbia Mid Cap Index Fund
Class A \| NTIAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Mid Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | 0.45% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The information technology, communication services and industrials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Lumentum, an optical and photonics components manufacturer; Coherent Corp., a photonics, lasers, and advanced materials technology manufacturer; Ciena Corporation, an optical networking equipment and software company; Comfort Systems USA, a mechanical and electrical contracting services company; and Curtiss-Wright, an aerospace, defense, and industrial technology manufacturer, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors \|** The real estate, financials and materials sectors were the weakest performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Berry Global, a global packaging and materials manufacturing company; Sarepta, a biotechnology company focused on rare diseases; Nutanix, an enterprise cloud infrastructure software company; Duolingo, an education technology software company; and Pinnacle Financial, a regional commercial bank and financial services firm, were among the top absolute detractors from Fund performance during the period.

Columbia Mid Cap Index Fund \| Class A **\|** ASR196_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g32w56.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Mid Cap Index Fund Class A ($29955)** | **Russell 3000<sup>®</sup> Index ($40728)** | **S&P MidCap 400<sup>®</sup> Index ($31364)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10847 | $10704 | $10852 |
| **04/16** | $10975 | $10770 | $10984 |
| **05/16** | $11224 | $10963 | $11238 |
| **06/16** | $11271 | $10986 | $11285 |
| **07/16** | $11746 | $11422 | $11769 |
| **08/16** | $11799 | $11451 | $11828 |
| **09/16** | $11723 | $11469 | $11753 |
| **10/16** | $11401 | $11221 | $11438 |
| **11/16** | $12313 | $11723 | $12354 |
| **12/16** | $12579 | $11952 | $12624 |
| **01/17** | $12783 | $12176 | $12836 |
| **02/17** | $13110 | $12629 | $13173 |
| **03/17** | $13052 | $12638 | $13122 |
| **04/17** | $13159 | $12772 | $13231 |
| **05/17** | $13085 | $12903 | $13167 |
| **06/17** | $13296 | $13019 | $13380 |
| **07/17** | $13404 | $13264 | $13498 |
| **08/17** | $13197 | $13290 | $13291 |
| **09/17** | $13709 | $13614 | $13811 |
| **10/17** | $14014 | $13911 | $14124 |
| **11/17** | $14525 | $14334 | $14643 |
| **12/17** | $14552 | $14477 | $14675 |
| **01/18** | $14965 | $15240 | $15097 |
| **02/18** | $14288 | $14678 | $14428 |
| **03/18** | $14420 | $14384 | $14562 |
| **04/18** | $14376 | $14438 | $14524 |
| **05/18** | $14957 | $14846 | $15123 |
| **06/18** | $15019 | $14943 | $15187 |
| **07/18** | $15275 | $15439 | $15455 |
| **08/18** | $15763 | $15981 | $15948 |
| **09/18** | $15577 | $16008 | $15774 |
| **10/18** | $14088 | $14829 | $14268 |
| **11/18** | $14522 | $15126 | $14713 |
| **12/18** | $12868 | $13718 | $13048 |
| **01/19** | $14208 | $14896 | $14413 |
| **02/19** | $14811 | $15419 | $15024 |
| **03/19** | $14725 | $15645 | $14939 |
| **04/19** | $15309 | $16269 | $15540 |
| **05/19** | $14084 | $15216 | $14301 |
| **06/19** | $15156 | $16285 | $15394 |
| **07/19** | $15331 | $16527 | $15577 |
| **08/19** | $14677 | $16190 | $14923 |
| **09/19** | $15126 | $16475 | $15381 |
| **10/19** | $15283 | $16829 | $15554 |
| **11/19** | $15732 | $17469 | $16017 |
| **12/19** | $16170 | $17973 | $16467 |
| **01/20** | $15745 | $17954 | $16037 |
| **02/20** | $14237 | $16484 | $14515 |
| **03/20** | $11343 | $14217 | $11576 |
| **04/20** | $12952 | $16100 | $13218 |
| **05/20** | $13893 | $16961 | $14185 |
| **06/20** | $14068 | $17349 | $14363 |
| **07/20** | $14713 | $18334 | $15025 |
| **08/20** | $15220 | $19662 | $15553 |
| **09/20** | $14723 | $18946 | $15048 |
| **10/20** | $15030 | $18537 | $15375 |
| **11/20** | $17176 | $20792 | $17570 |
| **12/20** | $18287 | $21728 | $18716 |
| **01/21** | $18556 | $21631 | $18998 |
| **02/21** | $19808 | $22307 | $20290 |
| **03/21** | $20724 | $23107 | $21237 |
| **04/21** | $21652 | $24298 | $22194 |
| **05/21** | $21686 | $24409 | $22237 |
| **06/21** | $21452 | $25010 | $22009 |
| **07/21** | $21523 | $25433 | $22085 |
| **08/21** | $21933 | $26159 | $22516 |
| **09/21** | $21053 | $24985 | $21622 |
| **10/21** | $22285 | $26675 | $22894 |
| **11/21** | $21628 | $26269 | $22222 |
| **12/21** | $22714 | $27303 | $23350 |
| **01/22** | $21064 | $25697 | $21667 |
| **02/22** | $21288 | $25049 | $21908 |
| **03/22** | $21579 | $25862 | $22212 |
| **04/22** | $20034 | $23541 | $20633 |
| **05/22** | $20180 | $23509 | $20787 |
| **06/22** | $18242 | $21543 | $18788 |
| **07/22** | $20210 | $23564 | $20826 |
| **08/22** | $19568 | $22684 | $20180 |
| **09/22** | $17767 | $20581 | $18325 |
| **10/22** | $19624 | $22269 | $20252 |
| **11/22** | $20824 | $23431 | $21491 |
| **12/22** | $19649 | $22059 | $20301 |
| **01/23** | $21463 | $23578 | $22174 |
| **02/23** | $21065 | $23027 | $21772 |
| **03/23** | $20386 | $23643 | $21074 |
| **04/23** | $20210 | $23895 | $20908 |
| **05/23** | $19561 | $23988 | $20242 |
| **06/23** | $21338 | $25626 | $22096 |
| **07/23** | $22220 | $26544 | $23007 |
| **08/23** | $21566 | $26032 | $22342 |
| **09/23** | $20426 | $24792 | $21167 |
| **10/23** | $19331 | $24135 | $20038 |
| **11/23** | $20973 | $26385 | $21742 |
| **12/23** | $22788 | $27785 | $23638 |
| **01/24** | $22389 | $28093 | $23233 |
| **02/24** | $23714 | $29613 | $24613 |
| **03/24** | $25038 | $30569 | $25990 |
| **04/24** | $23522 | $29224 | $24426 |
| **05/24** | $24544 | $30604 | $25498 |
| **06/24** | $24150 | $31552 | $25095 |
| **07/24** | $25533 | $32138 | $26552 |
| **08/24** | $25516 | $32838 | $26531 |
| **09/24** | $25796 | $33517 | $26838 |
| **10/24** | $25598 | $33271 | $26648 |
| **11/24** | $27854 | $35484 | $28996 |
| **12/24** | $25843 | $34400 | $26930 |
| **01/25** | $26833 | $35486 | $27967 |
| **02/25** | $25666 | $34806 | $26751 |
| **03/25** | $24252 | $32775 | $25287 |
| **04/25** | $23686 | $32556 | $24718 |
| **05/25** | $24959 | $34619 | $26052 |
| **06/25** | $25849 | $36378 | $26984 |
| **07/25** | $26249 | $37179 | $27421 |
| **08/25** | $27139 | $38039 | $28352 |
| **09/25** | $27248 | $39352 | $28482 |
| **10/25** | $27121 | $40196 | $28349 |
| **11/25** | $27666 | $40306 | $28929 |
| **12/25** | $27676 | $40298 | $28950 |
| **01/26** | $28777 | $40923 | $30123 |
| **02/26** | $29955 | $40728 | $31364 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A | 16.71 | 8.62 | 11.60 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| S&P MidCap 400<sup>®</sup> Index | 17.24 | 9.10 | 12.11 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2578939466 |
| **Total number of portfolio holdings** | 402 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $4949801 |
| **Portfolio turnover for the reporting period** | 16% |

---

Columbia Mid Cap Index Fund \| Class A **\|** ASR196_01_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 25.2% |
| Financials | 14.3% |
| Information Technology | 13.9% |
| Consumer Discretionary | 11.0% |
| Health Care | 8.5% |
| Real Estate | 6.5% |
| Materials | 5.7% |
| Energy | 4.5% |
| Consumer Staples | 4.4% |
| Utilities | 3.2% |
| Other | 1.5% |

---

### Top Holdings

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. | 1.4% |
| Coherent Corp. | 1.2% |
| TechnipFMC PLC | 0.8% |
| Curtiss-Wright Corp. | 0.7% |
| Casey's General Stores, Inc. | 0.7% |
| XPO, Inc. | 0.7% |
| Royal Gold, Inc. | 0.7% |
| Flex Ltd. | 0.7% |
| Woodward, Inc. | 0.7% |
| ATI, Inc. | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| 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](g250382g50k50.jpg)

Columbia Mid Cap Index Fund \| Class A **\|** ASR196_01_(04/26) \|

# Columbia Mid Cap Index Fund
Institutional 2 Class \| CPXRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Mid Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The information technology, communication services and industrials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Lumentum, an optical and photonics components manufacturer; Coherent Corp., a photonics, lasers, and advanced materials technology manufacturer; Ciena Corporation, an optical networking equipment and software company; Comfort Systems USA, a mechanical and electrical contracting services company; and Curtiss-Wright, an aerospace, defense, and industrial technology manufacturer, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors \|** The real estate, financials and materials sectors were the weakest performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Berry Global, a global packaging and materials manufacturing company; Sarepta, a biotechnology company focused on rare diseases; Nutanix, an enterprise cloud infrastructure software company; Duolingo, an education technology software company; and Pinnacle Financial, a regional commercial bank and financial services firm, were among the top absolute detractors from Fund performance during the period.

Columbia Mid Cap Index Fund \| Institutional 2 Class **\|** ASR196_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g93c09.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Mid Cap Index Fund Institutional 2 Class ($30696)** | **Russell 3000<sup>®</sup> Index ($40728)** | **S&P MidCap 400<sup>®</sup> Index ($31364)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10843 | $10704 | $10852 |
| **04/16** | $10977 | $10770 | $10984 |
| **05/16** | $11223 | $10963 | $11238 |
| **06/16** | $11273 | $10986 | $11285 |
| **07/16** | $11749 | $11422 | $11769 |
| **08/16** | $11809 | $11451 | $11828 |
| **09/16** | $11734 | $11469 | $11753 |
| **10/16** | $11416 | $11221 | $11438 |
| **11/16** | $12323 | $11723 | $12354 |
| **12/16** | $12594 | $11952 | $12624 |
| **01/17** | $12804 | $12176 | $12836 |
| **02/17** | $13135 | $12629 | $13173 |
| **03/17** | $13079 | $12638 | $13122 |
| **04/17** | $13191 | $12772 | $13231 |
| **05/17** | $13119 | $12903 | $13167 |
| **06/17** | $13333 | $13019 | $13380 |
| **07/17** | $13447 | $13264 | $13498 |
| **08/17** | $13235 | $13290 | $13291 |
| **09/17** | $13756 | $13614 | $13811 |
| **10/17** | $14066 | $13911 | $14124 |
| **11/17** | $14579 | $14334 | $14643 |
| **12/17** | $14610 | $14477 | $14675 |
| **01/18** | $15027 | $15240 | $15097 |
| **02/18** | $14349 | $14678 | $14428 |
| **03/18** | $14479 | $14384 | $14562 |
| **04/18** | $14444 | $14438 | $14524 |
| **05/18** | $15036 | $14846 | $15123 |
| **06/18** | $15094 | $14943 | $15187 |
| **07/18** | $15357 | $15439 | $15455 |
| **08/18** | $15848 | $15981 | $15948 |
| **09/18** | $15673 | $16008 | $15774 |
| **10/18** | $14174 | $14829 | $14268 |
| **11/18** | $14612 | $15126 | $14713 |
| **12/18** | $12952 | $13718 | $13048 |
| **01/19** | $14307 | $14896 | $14413 |
| **02/19** | $14914 | $15419 | $15024 |
| **03/19** | $14829 | $15645 | $14939 |
| **04/19** | $15417 | $16269 | $15540 |
| **05/19** | $14184 | $15216 | $14301 |
| **06/19** | $15271 | $16285 | $15394 |
| **07/19** | $15445 | $16527 | $15577 |
| **08/19** | $14796 | $16190 | $14923 |
| **09/19** | $15251 | $16475 | $15381 |
| **10/19** | $15416 | $16829 | $15554 |
| **11/19** | $15871 | $17469 | $16017 |
| **12/19** | $16317 | $17973 | $16467 |
| **01/20** | $15886 | $17954 | $16037 |
| **02/20** | $14370 | $16484 | $14515 |
| **03/20** | $11460 | $14217 | $11576 |
| **04/20** | $13076 | $16100 | $13218 |
| **05/20** | $14029 | $16961 | $14185 |
| **06/20** | $14209 | $17349 | $14363 |
| **07/20** | $14859 | $18334 | $15025 |
| **08/20** | $15383 | $19662 | $15553 |
| **09/20** | $14880 | $18946 | $15048 |
| **10/20** | $15194 | $18537 | $15375 |
| **11/20** | $17364 | $20792 | $17570 |
| **12/20** | $18497 | $21728 | $18716 |
| **01/21** | $18774 | $21631 | $18998 |
| **02/21** | $20049 | $22307 | $20290 |
| **03/21** | $20981 | $23107 | $21237 |
| **04/21** | $21923 | $24298 | $22194 |
| **05/21** | $21956 | $24409 | $22237 |
| **06/21** | $21733 | $25010 | $22009 |
| **07/21** | $21803 | $25433 | $22085 |
| **08/21** | $22221 | $26159 | $22516 |
| **09/21** | $21338 | $24985 | $21622 |
| **10/21** | $22593 | $26675 | $22894 |
| **11/21** | $21919 | $26269 | $22222 |
| **12/21** | $23029 | $27303 | $23350 |
| **01/22** | $21368 | $25697 | $21667 |
| **02/22** | $21604 | $25049 | $21908 |
| **03/22** | $21891 | $25862 | $22212 |
| **04/22** | $20335 | $23541 | $20633 |
| **05/22** | $20492 | $23509 | $20787 |
| **06/22** | $18515 | $21543 | $18788 |
| **07/22** | $20519 | $23564 | $20826 |
| **08/22** | $19883 | $22684 | $20180 |
| **09/22** | $18045 | $20581 | $18325 |
| **10/22** | $19938 | $22269 | $20252 |
| **11/22** | $21154 | $23431 | $21491 |
| **12/22** | $19977 | $22059 | $20301 |
| **01/23** | $21817 | $23578 | $22174 |
| **02/23** | $21423 | $23027 | $21772 |
| **03/23** | $20736 | $23643 | $21074 |
| **04/23** | $20561 | $23895 | $20908 |
| **05/23** | $19904 | $23988 | $20242 |
| **06/23** | $21732 | $25626 | $22096 |
| **07/23** | $22621 | $26544 | $23007 |
| **08/23** | $21958 | $26032 | $22342 |
| **09/23** | $20798 | $24792 | $21167 |
| **10/23** | $19699 | $24135 | $20038 |
| **11/23** | $21371 | $26385 | $21742 |
| **12/23** | $23229 | $27785 | $23638 |
| **01/24** | $22818 | $28093 | $23233 |
| **02/24** | $24178 | $29613 | $24613 |
| **03/24** | $25522 | $30569 | $25990 |
| **04/24** | $23988 | $29224 | $24426 |
| **05/24** | $25032 | $30604 | $25498 |
| **06/24** | $24636 | $31552 | $25095 |
| **07/24** | $26070 | $32138 | $26552 |
| **08/24** | $26038 | $32838 | $26531 |
| **09/24** | $26331 | $33517 | $26838 |
| **10/24** | $26152 | $33271 | $26648 |
| **11/24** | $28451 | $35484 | $28996 |
| **12/24** | $26411 | $34400 | $26930 |
| **01/25** | $27427 | $35486 | $27967 |
| **02/25** | $26219 | $34806 | $26751 |
| **03/25** | $24784 | $32775 | $25287 |
| **04/25** | $24224 | $32556 | $24718 |
| **05/25** | $25519 | $34619 | $26052 |
| **06/25** | $26446 | $36378 | $26984 |
| **07/25** | $26860 | $37179 | $27421 |
| **08/25** | $27777 | $38039 | $28352 |
| **09/25** | $27885 | $39352 | $28482 |
| **10/25** | $27759 | $40196 | $28349 |
| **11/25** | $28317 | $40306 | $28929 |
| **12/25** | $28345 | $40298 | $28950 |
| **01/26** | $29491 | $40923 | $30123 |
| **02/26** | $30696 | $40728 | $31364 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 17.07 | 8.89 | 11.87 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| S&P MidCap 400<sup>®</sup> Index | 17.24 | 9.10 | 12.11 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2578939466 |
| **Total number of portfolio holdings** | 402 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $4949801 |
| **Portfolio turnover for the reporting period** | 16% |

---

Columbia Mid Cap Index Fund \| Institutional 2 Class **\|** ASR196_15_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 25.2% |
| Financials | 14.3% |
| Information Technology | 13.9% |
| Consumer Discretionary | 11.0% |
| Health Care | 8.5% |
| Real Estate | 6.5% |
| Materials | 5.7% |
| Energy | 4.5% |
| Consumer Staples | 4.4% |
| Utilities | 3.2% |
| Other | 1.5% |

---

### Top Holdings

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. | 1.4% |
| Coherent Corp. | 1.2% |
| TechnipFMC PLC | 0.8% |
| Curtiss-Wright Corp. | 0.7% |
| Casey's General Stores, Inc. | 0.7% |
| XPO, Inc. | 0.7% |
| Royal Gold, Inc. | 0.7% |
| Flex Ltd. | 0.7% |
| Woodward, Inc. | 0.7% |
| ATI, Inc. | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| 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](g250382g50k50.jpg)

Columbia Mid Cap Index Fund \| Institutional 2 Class **\|** ASR196_15_(04/26) \|

# Columbia Mid Cap Index Fund
Institutional 3 Class \| CMDYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Mid Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The information technology, communication services and industrials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Lumentum, an optical and photonics components manufacturer; Coherent Corp., a photonics, lasers, and advanced materials technology manufacturer; Ciena Corporation, an optical networking equipment and software company; Comfort Systems USA, a mechanical and electrical contracting services company; and Curtiss-Wright, an aerospace, defense, and industrial technology manufacturer, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors \|** The real estate, financials and materials sectors were the weakest performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Berry Global, a global packaging and materials manufacturing company; Sarepta, a biotechnology company focused on rare diseases; Nutanix, an enterprise cloud infrastructure software company; Duolingo, an education technology software company; and Pinnacle Financial, a regional commercial bank and financial services firm, were among the top absolute detractors from Fund performance during the period.

Columbia Mid Cap Index Fund \| Institutional 3 Class **\|** ASR196_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g86u55.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Mid Cap Index Fund Institutional 3 Class ($30700)** | **Russell 3000<sup>®</sup> Index ($40728)** | **S&P MidCap 400<sup>®</sup> Index ($31364)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10850 | $10704 | $10852 |
| **04/16** | $10979 | $10770 | $10984 |
| **05/16** | $11229 | $10963 | $11238 |
| **06/16** | $11272 | $10986 | $11285 |
| **07/16** | $11757 | $11422 | $11769 |
| **08/16** | $11811 | $11451 | $11828 |
| **09/16** | $11734 | $11469 | $11753 |
| **10/16** | $11418 | $11221 | $11438 |
| **11/16** | $12334 | $11723 | $12354 |
| **12/16** | $12602 | $11952 | $12624 |
| **01/17** | $12807 | $12176 | $12836 |
| **02/17** | $13145 | $12629 | $13173 |
| **03/17** | $13083 | $12638 | $13122 |
| **04/17** | $13191 | $12772 | $13231 |
| **05/17** | $13124 | $12903 | $13167 |
| **06/17** | $13337 | $13019 | $13380 |
| **07/17** | $13455 | $13264 | $13498 |
| **08/17** | $13245 | $13290 | $13291 |
| **09/17** | $13759 | $13614 | $13811 |
| **10/17** | $14062 | $13911 | $14124 |
| **11/17** | $14585 | $14334 | $14643 |
| **12/17** | $14609 | $14477 | $14675 |
| **01/18** | $15024 | $15240 | $15097 |
| **02/18** | $14356 | $14678 | $14428 |
| **03/18** | $14491 | $14384 | $14562 |
| **04/18** | $14446 | $14438 | $14524 |
| **05/18** | $15042 | $14846 | $15123 |
| **06/18** | $15102 | $14943 | $15187 |
| **07/18** | $15366 | $15439 | $15455 |
| **08/18** | $15848 | $15981 | $15948 |
| **09/18** | $15675 | $16008 | $15774 |
| **10/18** | $14174 | $14829 | $14268 |
| **11/18** | $14620 | $15126 | $14713 |
| **12/18** | $12960 | $13718 | $13048 |
| **01/19** | $14313 | $14896 | $14413 |
| **02/19** | $14915 | $15419 | $15024 |
| **03/19** | $14826 | $15645 | $14939 |
| **04/19** | $15428 | $16269 | $15540 |
| **05/19** | $14194 | $15216 | $14301 |
| **06/19** | $15276 | $16285 | $15394 |
| **07/19** | $15458 | $16527 | $15577 |
| **08/19** | $14802 | $16190 | $14923 |
| **09/19** | $15256 | $16475 | $15381 |
| **10/19** | $15427 | $16829 | $15554 |
| **11/19** | $15881 | $17469 | $16017 |
| **12/19** | $16327 | $17973 | $16467 |
| **01/20** | $15897 | $17954 | $16037 |
| **02/20** | $14379 | $16484 | $14515 |
| **03/20** | $11457 | $14217 | $11576 |
| **04/20** | $13080 | $16100 | $13218 |
| **05/20** | $14044 | $16961 | $14185 |
| **06/20** | $14210 | $17349 | $14363 |
| **07/20** | $14868 | $18334 | $15025 |
| **08/20** | $15383 | $19662 | $15553 |
| **09/20** | $14879 | $18946 | $15048 |
| **10/20** | $15207 | $18537 | $15375 |
| **11/20** | $17377 | $20792 | $17570 |
| **12/20** | $18507 | $21728 | $18716 |
| **01/21** | $18774 | $21631 | $18998 |
| **02/21** | $20053 | $22307 | $20290 |
| **03/21** | $20983 | $23107 | $21237 |
| **04/21** | $21925 | $24298 | $22194 |
| **05/21** | $21971 | $24409 | $22237 |
| **06/21** | $21737 | $25010 | $22009 |
| **07/21** | $21810 | $25433 | $22085 |
| **08/21** | $22226 | $26159 | $22516 |
| **09/21** | $21346 | $24985 | $21622 |
| **10/21** | $22604 | $26675 | $22894 |
| **11/21** | $21932 | $26269 | $22222 |
| **12/21** | $23038 | $27303 | $23350 |
| **01/22** | $21379 | $25697 | $21667 |
| **02/22** | $21614 | $25049 | $21908 |
| **03/22** | $21904 | $25862 | $22212 |
| **04/22** | $20356 | $23541 | $20633 |
| **05/22** | $20494 | $23509 | $20787 |
| **06/22** | $18528 | $21543 | $18788 |
| **07/22** | $20536 | $23564 | $20826 |
| **08/22** | $19891 | $22684 | $20180 |
| **09/22** | $18059 | $20581 | $18325 |
| **10/22** | $19950 | $22269 | $20252 |
| **11/22** | $21166 | $23431 | $21491 |
| **12/22** | $19991 | $22059 | $20301 |
| **01/23** | $21825 | $23578 | $22174 |
| **02/23** | $21437 | $23027 | $21772 |
| **03/23** | $20737 | $23643 | $21074 |
| **04/23** | $20566 | $23895 | $20908 |
| **05/23** | $19913 | $23988 | $20242 |
| **06/23** | $21735 | $25626 | $22096 |
| **07/23** | $22634 | $26544 | $23007 |
| **08/23** | $21960 | $26032 | $22342 |
| **09/23** | $20803 | $24792 | $21167 |
| **10/23** | $19695 | $24135 | $20038 |
| **11/23** | $21381 | $26385 | $21742 |
| **12/23** | $23235 | $27785 | $23638 |
| **01/24** | $22829 | $28093 | $23233 |
| **02/24** | $24183 | $29613 | $24613 |
| **03/24** | $25537 | $30569 | $25990 |
| **04/24** | $23997 | $29224 | $24426 |
| **05/24** | $25046 | $30604 | $25498 |
| **06/24** | $24638 | $31552 | $25095 |
| **07/24** | $26072 | $32138 | $26552 |
| **08/24** | $26055 | $32838 | $26531 |
| **09/24** | $26352 | $33517 | $26838 |
| **10/24** | $26159 | $33271 | $26648 |
| **11/24** | $28450 | $35484 | $28996 |
| **12/24** | $26420 | $34400 | $26930 |
| **01/25** | $27439 | $35486 | $27967 |
| **02/25** | $26231 | $34806 | $26751 |
| **03/25** | $24797 | $32775 | $25287 |
| **04/25** | $24231 | $32556 | $24718 |
| **05/25** | $25533 | $34619 | $26052 |
| **06/25** | $26438 | $36378 | $26984 |
| **07/25** | $26866 | $37179 | $27421 |
| **08/25** | $27779 | $38039 | $28352 |
| **09/25** | $27896 | $39352 | $28482 |
| **10/25** | $27760 | $40196 | $28349 |
| **11/25** | $28324 | $40306 | $28929 |
| **12/25** | $28355 | $40298 | $28950 |
| **01/26** | $29496 | $40923 | $30123 |
| **02/26** | $30700 | $40728 | $31364 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class<sup>Footnote Reference(a)</sup> | 17.04 | 8.89 | 11.87 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| S&P MidCap 400<sup>®</sup> Index | 17.24 | 9.10 | 12.11 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to March 1, 2017 (including Since Fund Inception returns, if shown) include the returns of Institutional Class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2578939466 |
| **Total number of portfolio holdings** | 402 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $4949801 |
| **Portfolio turnover for the reporting period** | 16% |

---

Columbia Mid Cap Index Fund \| Institutional 3 Class **\|** ASR196_17_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 25.2% |
| Financials | 14.3% |
| Information Technology | 13.9% |
| Consumer Discretionary | 11.0% |
| Health Care | 8.5% |
| Real Estate | 6.5% |
| Materials | 5.7% |
| Energy | 4.5% |
| Consumer Staples | 4.4% |
| Utilities | 3.2% |
| Other | 1.5% |

---

### Top Holdings

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. | 1.4% |
| Coherent Corp. | 1.2% |
| TechnipFMC PLC | 0.8% |
| Curtiss-Wright Corp. | 0.7% |
| Casey's General Stores, Inc. | 0.7% |
| XPO, Inc. | 0.7% |
| Royal Gold, Inc. | 0.7% |
| Flex Ltd. | 0.7% |
| Woodward, Inc. | 0.7% |
| ATI, Inc. | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| 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](g250382g50k50.jpg)

Columbia Mid Cap Index Fund \| Institutional 3 Class **\|** ASR196_17_(04/26) \|

# Columbia Mid Cap Index Fund
Institutional Class \| NMPAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Mid Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The information technology, communication services and industrials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Lumentum, an optical and photonics components manufacturer; Coherent Corp., a photonics, lasers, and advanced materials technology manufacturer; Ciena Corporation, an optical networking equipment and software company; Comfort Systems USA, a mechanical and electrical contracting services company; and Curtiss-Wright, an aerospace, defense, and industrial technology manufacturer, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors \|** The real estate, financials and materials sectors were the weakest performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Berry Global, a global packaging and materials manufacturing company; Sarepta, a biotechnology company focused on rare diseases; Nutanix, an enterprise cloud infrastructure software company; Duolingo, an education technology software company; and Pinnacle Financial, a regional commercial bank and financial services firm, were among the top absolute detractors from Fund performance during the period.

Columbia Mid Cap Index Fund \| Institutional Class **\|** ASR196_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g30j79.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Mid Cap Index Fund Institutional Class ($30710)** | **Russell 3000<sup>®</sup> Index ($40728)** | **S&P MidCap 400<sup>®</sup> Index ($31364)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10850 | $10704 | $10852 |
| **04/16** | $10979 | $10770 | $10984 |
| **05/16** | $11229 | $10963 | $11238 |
| **06/16** | $11272 | $10986 | $11285 |
| **07/16** | $11757 | $11422 | $11769 |
| **08/16** | $11811 | $11451 | $11828 |
| **09/16** | $11734 | $11469 | $11753 |
| **10/16** | $11418 | $11221 | $11438 |
| **11/16** | $12334 | $11723 | $12354 |
| **12/16** | $12602 | $11952 | $12624 |
| **01/17** | $12807 | $12176 | $12836 |
| **02/17** | $13145 | $12629 | $13173 |
| **03/17** | $13087 | $12638 | $13122 |
| **04/17** | $13194 | $12772 | $13231 |
| **05/17** | $13128 | $12903 | $13167 |
| **06/17** | $13338 | $13019 | $13380 |
| **07/17** | $13454 | $13264 | $13498 |
| **08/17** | $13246 | $13290 | $13291 |
| **09/17** | $13761 | $13614 | $13811 |
| **10/17** | $14068 | $13911 | $14124 |
| **11/17** | $14583 | $14334 | $14643 |
| **12/17** | $14614 | $14477 | $14675 |
| **01/18** | $15031 | $15240 | $15097 |
| **02/18** | $14357 | $14678 | $14428 |
| **03/18** | $14490 | $14384 | $14562 |
| **04/18** | $14446 | $14438 | $14524 |
| **05/18** | $15040 | $14846 | $15123 |
| **06/18** | $15100 | $14943 | $15187 |
| **07/18** | $15368 | $15439 | $15455 |
| **08/18** | $15851 | $15981 | $15948 |
| **09/18** | $15681 | $16008 | $15774 |
| **10/18** | $14178 | $14829 | $14268 |
| **11/18** | $14617 | $15126 | $14713 |
| **12/18** | $12958 | $13718 | $13048 |
| **01/19** | $14315 | $14896 | $14413 |
| **02/19** | $14916 | $15419 | $15024 |
| **03/19** | $14829 | $15645 | $14939 |
| **04/19** | $15430 | $16269 | $15540 |
| **05/19** | $14189 | $15216 | $14301 |
| **06/19** | $15281 | $16285 | $15394 |
| **07/19** | $15459 | $16527 | $15577 |
| **08/19** | $14805 | $16190 | $14923 |
| **09/19** | $15251 | $16475 | $15381 |
| **10/19** | $15429 | $16829 | $15554 |
| **11/19** | $15884 | $17469 | $16017 |
| **12/19** | $16321 | $17973 | $16467 |
| **01/20** | $15900 | $17954 | $16037 |
| **02/20** | $14380 | $16484 | $14515 |
| **03/20** | $11463 | $14217 | $11576 |
| **04/20** | $13086 | $16100 | $13218 |
| **05/20** | $14041 | $16961 | $14185 |
| **06/20** | $14215 | $17349 | $14363 |
| **07/20** | $14870 | $18334 | $15025 |
| **08/20** | $15385 | $19662 | $15553 |
| **09/20** | $14880 | $18946 | $15048 |
| **10/20** | $15202 | $18537 | $15375 |
| **11/20** | $17371 | $20792 | $17570 |
| **12/20** | $18511 | $21728 | $18716 |
| **01/21** | $18784 | $21631 | $18998 |
| **02/21** | $20059 | $22307 | $20290 |
| **03/21** | $20992 | $23107 | $21237 |
| **04/21** | $21925 | $24298 | $22194 |
| **05/21** | $21970 | $24409 | $22237 |
| **06/21** | $21741 | $25010 | $22009 |
| **07/21** | $21813 | $25433 | $22085 |
| **08/21** | $22231 | $26159 | $22516 |
| **09/21** | $21347 | $24985 | $21622 |
| **10/21** | $22601 | $26675 | $22894 |
| **11/21** | $21932 | $26269 | $22222 |
| **12/21** | $23036 | $27303 | $23350 |
| **01/22** | $21378 | $25697 | $21667 |
| **02/22** | $21608 | $25049 | $21908 |
| **03/22** | $21904 | $25862 | $22212 |
| **04/22** | $20354 | $23541 | $20633 |
| **05/22** | $20502 | $23509 | $20787 |
| **06/22** | $18518 | $21543 | $18788 |
| **07/22** | $20530 | $23564 | $20826 |
| **08/22** | $19888 | $22684 | $20180 |
| **09/22** | $18062 | $20581 | $18325 |
| **10/22** | $19945 | $22269 | $20252 |
| **11/22** | $21172 | $23431 | $21491 |
| **12/22** | $19985 | $22059 | $20301 |
| **01/23** | $21828 | $23578 | $22174 |
| **02/23** | $21435 | $23027 | $21772 |
| **03/23** | $20740 | $23643 | $21074 |
| **04/23** | $20574 | $23895 | $20908 |
| **05/23** | $19909 | $23988 | $20242 |
| **06/23** | $21740 | $25626 | $22096 |
| **07/23** | $22629 | $26544 | $23007 |
| **08/23** | $21974 | $26032 | $22342 |
| **09/23** | $20820 | $24792 | $21167 |
| **10/23** | $19697 | $24135 | $20038 |
| **11/23** | $21381 | $26385 | $21742 |
| **12/23** | $23244 | $27785 | $23638 |
| **01/24** | $22834 | $28093 | $23233 |
| **02/24** | $24195 | $29613 | $24613 |
| **03/24** | $25540 | $30569 | $25990 |
| **04/24** | $23998 | $29224 | $24426 |
| **05/24** | $25048 | $30604 | $25498 |
| **06/24** | $24653 | $31552 | $25095 |
| **07/24** | $26075 | $32138 | $26552 |
| **08/24** | $26059 | $32838 | $26531 |
| **09/24** | $26346 | $33517 | $26838 |
| **10/24** | $26160 | $33271 | $26648 |
| **11/24** | $28463 | $35484 | $28996 |
| **12/24** | $26430 | $34400 | $26930 |
| **01/25** | $27432 | $35486 | $27967 |
| **02/25** | $26248 | $34806 | $26751 |
| **03/25** | $24808 | $32775 | $25287 |
| **04/25** | $24243 | $32556 | $24718 |
| **05/25** | $25537 | $34619 | $26052 |
| **06/25** | $26447 | $36378 | $26984 |
| **07/25** | $26879 | $37179 | $27421 |
| **08/25** | $27779 | $38039 | $28352 |
| **09/25** | $27911 | $39352 | $28482 |
| **10/25** | $27779 | $40196 | $28349 |
| **11/25** | $28342 | $40306 | $28929 |
| **12/25** | $28352 | $40298 | $28950 |
| **01/26** | $29491 | $40923 | $30123 |
| **02/26** | $30710 | $40728 | $31364 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 17.00 | 8.89 | 11.87 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| S&P MidCap 400<sup>®</sup> Index | 17.24 | 9.10 | 12.11 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2578939466 |
| **Total number of portfolio holdings** | 402 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $4949801 |
| **Portfolio turnover for the reporting period** | 16% |

---

Columbia Mid Cap Index Fund \| Institutional Class **\|** ASR196_08_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 25.2% |
| Financials | 14.3% |
| Information Technology | 13.9% |
| Consumer Discretionary | 11.0% |
| Health Care | 8.5% |
| Real Estate | 6.5% |
| Materials | 5.7% |
| Energy | 4.5% |
| Consumer Staples | 4.4% |
| Utilities | 3.2% |
| Other | 1.5% |

---

### Top Holdings

---

| | |
|:---|:---|
| Lumentum Holdings, Inc. | 1.4% |
| Coherent Corp. | 1.2% |
| TechnipFMC PLC | 0.8% |
| Curtiss-Wright Corp. | 0.7% |
| Casey's General Stores, Inc. | 0.7% |
| XPO, Inc. | 0.7% |
| Royal Gold, Inc. | 0.7% |
| Flex Ltd. | 0.7% |
| Woodward, Inc. | 0.7% |
| ATI, Inc. | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| 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](g250382g50k50.jpg)

Columbia Mid Cap Index Fund \| Institutional Class **\|** ASR196_08_(04/26) \|

# Columbia Overseas Value Fund
Class A \| COAVX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Overseas Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $144 | 1.15% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, energy and materials sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the communication services and materials sectors buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Energy Fuels, an American rare earths and uranium company; Northern Star Resources, an Australian gold miner; Piraeus Bank, a Greek bank; Pan American Silver, a Canadian silver miner; and Impala Platinum, a South African platinum miner, contributed to the Fund's relative performance during the annual period.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, health care and consumer discretionary sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Larger weightings in the information technology and consumer staples sectors and a smaller weighting in the financials sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Check Point Software Technologies, an Israeli cybersecurity company; Burford Capital, a litigation finance company; Flutter Entertainment, an Irish-American gambling company; Sankyo, a Japanese pachinko machine maker; and an overweight in MatsukiyoCocokara, a Japanese pharmacy chain, detracted from the Fund's relative performance during the annual period.

Columbia Overseas Value Fund \| Class A **\|** ASR208_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g44r88.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Overseas Value Fund Class A (including sales charges) ($28459)** | **MSCI EAFE Index (Net) ($26545)** | **MSCI EAFE Value Index (Net) ($28590)** |
| **02/16** | $9419 | $10000 | $10000 |
| **03/16** | $10114 | $10651 | $10660 |
| **04/16** | $10278 | $10959 | $11080 |
| **05/16** | $10316 | $10859 | $10904 |
| **06/16** | $9710 | $10495 | $10362 |
| **07/16** | $10139 | $11027 | $10907 |
| **08/16** | $10215 | $11035 | $11083 |
| **09/16** | $10391 | $11170 | $11191 |
| **10/16** | $10253 | $10942 | $11217 |
| **11/16** | $10265 | $10724 | $11148 |
| **12/16** | $10564 | $11091 | $11658 |
| **01/17** | $10872 | $11412 | $11945 |
| **02/17** | $10949 | $11575 | $12027 |
| **03/17** | $11309 | $11894 | $12363 |
| **04/17** | $11643 | $12197 | $12622 |
| **05/17** | $12055 | $12644 | $12915 |
| **06/17** | $12157 | $12622 | $12954 |
| **07/17** | $12710 | $12986 | $13387 |
| **08/17** | $12736 | $12981 | $13303 |
| **09/17** | $13173 | $13304 | $13714 |
| **10/17** | $13288 | $13506 | $13820 |
| **11/17** | $13481 | $13648 | $13944 |
| **12/17** | $13700 | $13867 | $14158 |
| **01/18** | $14443 | $14563 | $14922 |
| **02/18** | $13766 | $13905 | $14213 |
| **03/18** | $13554 | $13655 | $13870 |
| **04/18** | $13832 | $13966 | $14298 |
| **05/18** | $13660 | $13652 | $13678 |
| **06/18** | $13373 | $13486 | $13505 |
| **07/18** | $13453 | $13818 | $13892 |
| **08/18** | $13009 | $13551 | $13387 |
| **09/18** | $13251 | $13668 | $13664 |
| **10/18** | $12282 | $12580 | $12757 |
| **11/18** | $12214 | $12565 | $12686 |
| **12/18** | $11409 | $11955 | $12065 |
| **01/19** | $12341 | $12740 | $12873 |
| **02/19** | $12671 | $13065 | $13087 |
| **03/19** | $12602 | $13147 | $13020 |
| **04/19** | $12931 | $13517 | $13324 |
| **05/19** | $12095 | $12868 | $12552 |
| **06/19** | $12797 | $13631 | $13221 |
| **07/19** | $12413 | $13458 | $12924 |
| **08/19** | $12111 | $13110 | $12393 |
| **09/19** | $12591 | $13485 | $12991 |
| **10/19** | $13153 | $13970 | $13460 |
| **11/19** | $13441 | $14127 | $13513 |
| **12/19** | $13928 | $14586 | $14006 |
| **01/20** | $13345 | $14282 | $13500 |
| **02/20** | $12151 | $12991 | $12222 |
| **03/20** | $9721 | $11257 | $10057 |
| **04/20** | $10574 | $11984 | $10595 |
| **05/20** | $11142 | $12506 | $10917 |
| **06/20** | $11446 | $12932 | $11307 |
| **07/20** | $11518 | $13233 | $11329 |
| **08/20** | $12161 | $13914 | $11992 |
| **09/20** | $11618 | $13552 | $11441 |
| **10/20** | $11061 | $13011 | $10980 |
| **11/20** | $13061 | $15028 | $13060 |
| **12/20** | $13872 | $15726 | $13638 |
| **01/21** | $13685 | $15559 | $13532 |
| **02/21** | $14421 | $15908 | $14177 |
| **03/21** | $15056 | $16274 | $14654 |
| **04/21** | $15330 | $16763 | $14934 |
| **05/21** | $15908 | $17310 | $15451 |
| **06/21** | $15305 | $17115 | $15095 |
| **07/21** | $15204 | $17244 | $15058 |
| **08/21** | $15609 | $17548 | $15229 |
| **09/21** | $15305 | $17039 | $14949 |
| **10/21** | $15537 | $17458 | $15187 |
| **11/21** | $14538 | $16645 | $14274 |
| **12/21** | $15345 | $17498 | $15124 |
| **01/22** | $15628 | $16652 | $15281 |
| **02/22** | $15091 | $16358 | $15074 |
| **03/22** | $14942 | $16463 | $15174 |
| **04/22** | $14166 | $15398 | $14407 |
| **05/22** | $14852 | $15513 | $14761 |
| **06/22** | $13255 | $14074 | $13291 |
| **07/22** | $13542 | $14775 | $13568 |
| **08/22** | $13271 | $14073 | $13110 |
| **09/22** | $12138 | $12757 | $11935 |
| **10/22** | $12969 | $13443 | $12705 |
| **11/22** | $14433 | $14957 | $14101 |
| **12/22** | $14385 | $14969 | $14279 |
| **01/23** | $15418 | $16181 | $15382 |
| **02/23** | $15114 | $15844 | $15166 |
| **03/23** | $15130 | $16236 | $15127 |
| **04/23** | $15707 | $16695 | $15614 |
| **05/23** | $14704 | $15988 | $14773 |
| **06/23** | $15426 | $16716 | $15604 |
| **07/23** | $16056 | $17257 | $16314 |
| **08/23** | $15734 | $16595 | $15830 |
| **09/23** | $15473 | $16029 | $15696 |
| **10/23** | $14996 | $15379 | $15005 |
| **11/23** | $15980 | $16806 | $16194 |
| **12/23** | $16665 | $17699 | $16985 |
| **01/24** | $16381 | $17801 | $16974 |
| **02/24** | $16223 | $18127 | $17005 |
| **03/24** | $16965 | $18723 | $17747 |
| **04/24** | $16870 | $18244 | $17565 |
| **05/24** | $17912 | $18950 | $18257 |
| **06/24** | $17148 | $18644 | $17749 |
| **07/24** | $18014 | $19191 | $18581 |
| **08/24** | $18462 | $19815 | $19057 |
| **09/24** | $18574 | $19998 | $19327 |
| **10/24** | $17757 | $18911 | $18419 |
| **11/24** | $17981 | $18803 | $18277 |
| **12/24** | $17414 | $18376 | $17951 |
| **01/25** | $18243 | $19341 | $18867 |
| **02/25** | $18840 | $19717 | $19570 |
| **03/25** | $19670 | $19637 | $20027 |
| **04/25** | $20267 | $20536 | $20839 |
| **05/25** | $21195 | $21476 | $21675 |
| **06/25** | $22041 | $21949 | $22052 |
| **07/25** | $21975 | $21641 | $22108 |
| **08/25** | $23401 | $22564 | $23374 |
| **09/25** | $23932 | $22996 | $23681 |
| **10/25** | $23667 | $23266 | $23861 |
| **11/25** | $24579 | $23411 | $24510 |
| **12/25** | $25295 | $24113 | $25535 |
| **01/26** | $27011 | $25371 | $26990 |
| **02/26** | $28459 | $26545 | $28590 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A (excluding sales charges) | 51.05 | 14.56 | 11.69 |
| Class A (including sales charges) | 42.40 | 13.21 | 11.03 |
| MSCI EAFE Index (Net) | 34.63 | 10.78 | 10.26 |
| MSCI EAFE Value Index (Net) | 46.09 | 15.06 | 11.08 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6862784805 |
| **Total number of portfolio holdings** | 122 |
| **Management services fees (represents 0.74% of Fund average net assets)** | $36638729 |
| **Portfolio turnover for the reporting period** | 57% |

---

Columbia Overseas Value Fund \| Class A **\|** ASR208_01_(04/26) \|

## 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

---

| | |
|:---|:---|
| Japan | 21.9% |
| United States | 12.4% |
| France | 8.4% |
| United Kingdom | 7.8% |
| Netherlands | 5.0% |
| Canada | 4.4% |
| Hong Kong | 4.4% |
| Spain | 4.0% |
| Australia | 3.7% |
| Germany | 3.5% |
| Other | 24.7% |

---

### Top Holdings

---

| | |
|:---|:---|
| Shell PLC | 3.1% |
| Banco Santander SA | 3.0% |
| TotalEnergies SE | 2.6% |
| AXA SA | 2.4% |
| Imperial Brands PLC | 2.3% |
| Sumitomo Mitsui Financial Group, Inc. | 2.3% |
| Northern Star Resources Ltd. | 2.1% |
| Primo Brands Corp., Class A | 2.0% |
| ASR Nederland NV | 1.9% |
| Ping An Insurance Group Co. of China Ltd., Class H | 1.9% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 33.5% |
| Consumer Staples | 12.2% |
| Energy | 12.1% |
| Industrials | 7.4% |
| Materials | 7.2% |
| Health Care | 6.2% |
| Consumer Discretionary | 6.0% |
| Information Technology | 4.6% |
| Real Estate | 4.5% |
| Utilities | 2.9% |
| Other | 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, 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](g250382g50k50.jpg)

Columbia Overseas Value Fund \| Class A **\|** ASR208_01_(04/26) \|

# Columbia Overseas Value Fund
Class C \| COCVX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Overseas Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $237 | 1.90% |

---

## Management's Discussion of Fund Performance
The performance of Class C shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, energy and materials sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the communication services and materials sectors buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Energy Fuels, an American rare earths and uranium company; Northern Star Resources, an Australian gold miner; Piraeus Bank, a Greek bank; Pan American Silver, a Canadian silver miner; and Impala Platinum, a South African platinum miner, contributed to the Fund's relative performance during the annual period.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, health care and consumer discretionary sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Larger weightings in the information technology and consumer staples sectors and a smaller weighting in the financials sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Check Point Software Technologies, an Israeli cybersecurity company; Burford Capital, a litigation finance company; Flutter Entertainment, an Irish-American gambling company; Sankyo, a Japanese pachinko machine maker; and an overweight in MatsukiyoCocokara, a Japanese pharmacy chain, detracted from the Fund's relative performance during the annual period.

Columbia Overseas Value Fund \| Class C **\|** ASR208_04_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g57z65.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Overseas Value Fund Class C (including sales charges) ($28041)** | **MSCI EAFE Index (Net) ($26545)** | **MSCI EAFE Value Index (Net) ($28590)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10726 | $10651 | $10660 |
| **04/16** | $10901 | $10959 | $11080 |
| **05/16** | $10941 | $10859 | $10904 |
| **06/16** | $10282 | $10495 | $10362 |
| **07/16** | $10726 | $11027 | $10907 |
| **08/16** | $10806 | $11035 | $11083 |
| **09/16** | $10995 | $11170 | $11191 |
| **10/16** | $10833 | $10942 | $11217 |
| **11/16** | $10847 | $10724 | $11148 |
| **12/16** | $11138 | $11091 | $11658 |
| **01/17** | $11464 | $11412 | $11945 |
| **02/17** | $11532 | $11575 | $12027 |
| **03/17** | $11913 | $11894 | $12363 |
| **04/17** | $12266 | $12197 | $12622 |
| **05/17** | $12688 | $12644 | $12915 |
| **06/17** | $12783 | $12622 | $12954 |
| **07/17** | $13368 | $12986 | $13387 |
| **08/17** | $13368 | $12981 | $13303 |
| **09/17** | $13830 | $13304 | $13714 |
| **10/17** | $13939 | $13506 | $13820 |
| **11/17** | $14143 | $13648 | $13944 |
| **12/17** | $14344 | $13867 | $14158 |
| **01/18** | $15126 | $14563 | $14922 |
| **02/18** | $14400 | $13905 | $14213 |
| **03/18** | $14176 | $13655 | $13870 |
| **04/18** | $14456 | $13966 | $14298 |
| **05/18** | $14260 | $13652 | $13678 |
| **06/18** | $13954 | $13486 | $13505 |
| **07/18** | $14025 | $13818 | $13892 |
| **08/18** | $13558 | $13551 | $13387 |
| **09/18** | $13799 | $13668 | $13664 |
| **10/18** | $12780 | $12580 | $12757 |
| **11/18** | $12709 | $12565 | $12686 |
| **12/18** | $11860 | $11955 | $12065 |
| **01/19** | $12833 | $12740 | $12873 |
| **02/19** | $13162 | $13065 | $13087 |
| **03/19** | $13091 | $13147 | $13020 |
| **04/19** | $13420 | $13517 | $13324 |
| **05/19** | $12533 | $12868 | $12552 |
| **06/19** | $13262 | $13631 | $13221 |
| **07/19** | $12847 | $13458 | $12924 |
| **08/19** | $12533 | $13110 | $12393 |
| **09/19** | $13019 | $13485 | $12991 |
| **10/19** | $13591 | $13970 | $13460 |
| **11/19** | $13877 | $14127 | $13513 |
| **12/19** | $14372 | $14586 | $14006 |
| **01/20** | $13768 | $14282 | $13500 |
| **02/20** | $12530 | $12991 | $12222 |
| **03/20** | $10009 | $11257 | $10057 |
| **04/20** | $10893 | $11984 | $10595 |
| **05/20** | $11468 | $12506 | $10917 |
| **06/20** | $11769 | $12932 | $11307 |
| **07/20** | $11828 | $13233 | $11329 |
| **08/20** | $12481 | $13914 | $11992 |
| **09/20** | $11932 | $13552 | $11441 |
| **10/20** | $11339 | $13011 | $10980 |
| **11/20** | $13385 | $15028 | $13060 |
| **12/20** | $14207 | $15726 | $13638 |
| **01/21** | $13999 | $15559 | $13532 |
| **02/21** | $14743 | $15908 | $14177 |
| **03/21** | $15397 | $16274 | $14654 |
| **04/21** | $15665 | $16763 | $14934 |
| **05/21** | $16245 | $17310 | $15451 |
| **06/21** | $15622 | $17115 | $15095 |
| **07/21** | $15503 | $17244 | $15058 |
| **08/21** | $15906 | $17548 | $15229 |
| **09/21** | $15593 | $17039 | $14949 |
| **10/21** | $15816 | $17458 | $15187 |
| **11/21** | $14788 | $16645 | $14274 |
| **12/21** | $15590 | $17498 | $15124 |
| **01/22** | $15865 | $16652 | $15281 |
| **02/22** | $15315 | $16358 | $15074 |
| **03/22** | $15163 | $16463 | $15174 |
| **04/22** | $14369 | $15398 | $14407 |
| **05/22** | $15040 | $15513 | $14761 |
| **06/22** | $13422 | $14074 | $13291 |
| **07/22** | $13716 | $14775 | $13568 |
| **08/22** | $13422 | $14073 | $13110 |
| **09/22** | $12264 | $12757 | $11935 |
| **10/22** | $13098 | $13443 | $12705 |
| **11/22** | $14565 | $14957 | $14101 |
| **12/22** | $14519 | $14969 | $14279 |
| **01/23** | $15538 | $16181 | $15382 |
| **02/23** | $15230 | $15844 | $15166 |
| **03/23** | $15230 | $16236 | $15127 |
| **04/23** | $15816 | $16695 | $15614 |
| **05/23** | $14797 | $15988 | $14773 |
| **06/23** | $15513 | $16716 | $15604 |
| **07/23** | $16121 | $17257 | $16314 |
| **08/23** | $15794 | $16595 | $15830 |
| **09/23** | $15528 | $16029 | $15696 |
| **10/23** | $15045 | $15379 | $15005 |
| **11/23** | $16012 | $16806 | $16194 |
| **12/23** | $16684 | $17699 | $16985 |
| **01/24** | $16397 | $17801 | $16974 |
| **02/24** | $16222 | $18127 | $17005 |
| **03/24** | $16955 | $18723 | $17747 |
| **04/24** | $16844 | $18244 | $17565 |
| **05/24** | $17879 | $18950 | $18257 |
| **06/24** | $17104 | $18644 | $17749 |
| **07/24** | $17961 | $19191 | $18581 |
| **08/24** | $18397 | $19815 | $19057 |
| **09/24** | $18510 | $19998 | $19327 |
| **10/24** | $17670 | $18911 | $18419 |
| **11/24** | $17880 | $18803 | $18277 |
| **12/24** | $17310 | $18376 | $17951 |
| **01/25** | $18125 | $19341 | $18867 |
| **02/25** | $18707 | $19717 | $19570 |
| **03/25** | $19522 | $19637 | $20027 |
| **04/25** | $20104 | $20536 | $20839 |
| **05/25** | $21002 | $21476 | $21675 |
| **06/25** | $21833 | $21949 | $22052 |
| **07/25** | $21750 | $21641 | $22108 |
| **08/25** | $23147 | $22564 | $23374 |
| **09/25** | $23662 | $22996 | $23681 |
| **10/25** | $23363 | $23266 | $23861 |
| **11/25** | $24261 | $23411 | $24510 |
| **12/25** | $24955 | $24113 | $25535 |
| **01/26** | $26614 | $25371 | $26990 |
| **02/26** | $28041 | $26545 | $28590 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class C (excluding sales charges) | 49.89 | 13.72 | 10.86 |
| Class C (including sales charges) | 48.89 | 13.72 | 10.86 |
| MSCI EAFE Index (Net) | 34.63 | 10.78 | 10.26 |
| MSCI EAFE Value Index (Net) | 46.09 | 15.06 | 11.08 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6862784805 |
| **Total number of portfolio holdings** | 122 |
| **Management services fees (represents 0.74% of Fund average net assets)** | $36638729 |
| **Portfolio turnover for the reporting period** | 57% |

---

Columbia Overseas Value Fund \| Class C **\|** ASR208_04_(04/26) \|

## 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

---

| | |
|:---|:---|
| Japan | 21.9% |
| United States | 12.4% |
| France | 8.4% |
| United Kingdom | 7.8% |
| Netherlands | 5.0% |
| Canada | 4.4% |
| Hong Kong | 4.4% |
| Spain | 4.0% |
| Australia | 3.7% |
| Germany | 3.5% |
| Other | 24.7% |

---

### Top Holdings

---

| | |
|:---|:---|
| Shell PLC | 3.1% |
| Banco Santander SA | 3.0% |
| TotalEnergies SE | 2.6% |
| AXA SA | 2.4% |
| Imperial Brands PLC | 2.3% |
| Sumitomo Mitsui Financial Group, Inc. | 2.3% |
| Northern Star Resources Ltd. | 2.1% |
| Primo Brands Corp., Class A | 2.0% |
| ASR Nederland NV | 1.9% |
| Ping An Insurance Group Co. of China Ltd., Class H | 1.9% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 33.5% |
| Consumer Staples | 12.2% |
| Energy | 12.1% |
| Industrials | 7.4% |
| Materials | 7.2% |
| Health Care | 6.2% |
| Consumer Discretionary | 6.0% |
| Information Technology | 4.6% |
| Real Estate | 4.5% |
| Utilities | 2.9% |
| Other | 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, 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](g250382g50k50.jpg)

Columbia Overseas Value Fund \| Class C **\|** ASR208_04_(04/26) \|

# Columbia Overseas Value Fund
Class R \| COVUX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Overseas Value Fund (the Fund) for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class R | $175 | 1.40% |

---

## Management's Discussion of Fund Performance
The performance of Class R shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, energy and materials sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the communication services and materials sectors buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Energy Fuels, an American rare earths and uranium company; Northern Star Resources, an Australian gold miner; Piraeus Bank, a Greek bank; Pan American Silver, a Canadian silver miner; and Impala Platinum, a South African platinum miner, contributed to the Fund's relative performance during the annual period.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, health care and consumer discretionary sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Larger weightings in the information technology and consumer staples sectors and a smaller weighting in the financials sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Check Point Software Technologies, an Israeli cybersecurity company; Burford Capital, a litigation finance company; Flutter Entertainment, an Irish-American gambling company; Sankyo, a Japanese pachinko machine maker; and an overweight in MatsukiyoCocokara, a Japanese pharmacy chain, detracted from the Fund's relative performance during the annual period.

Columbia Overseas Value Fund \| Class R **\|** ASR208_12_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g67u29.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Overseas Value Fund Class R ($29516)** | **MSCI EAFE Index (Net) ($26545)** | **MSCI EAFE Value Index (Net) ($28590)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10735 | $10651 | $10660 |
| **04/16** | $10913 | $10959 | $11080 |
| **05/16** | $10954 | $10859 | $10904 |
| **06/16** | $10310 | $10495 | $10362 |
| **07/16** | $10762 | $11027 | $10907 |
| **08/16** | $10845 | $11035 | $11083 |
| **09/16** | $11037 | $11170 | $11191 |
| **10/16** | $10872 | $10942 | $11217 |
| **11/16** | $10886 | $10724 | $11148 |
| **12/16** | $11202 | $11091 | $11658 |
| **01/17** | $11522 | $11412 | $11945 |
| **02/17** | $11606 | $11575 | $12027 |
| **03/17** | $11982 | $11894 | $12363 |
| **04/17** | $12344 | $12197 | $12622 |
| **05/17** | $12762 | $12644 | $12915 |
| **06/17** | $12873 | $12622 | $12954 |
| **07/17** | $13459 | $12986 | $13387 |
| **08/17** | $13487 | $12981 | $13303 |
| **09/17** | $13946 | $13304 | $13714 |
| **10/17** | $14058 | $13506 | $13820 |
| **11/17** | $14267 | $13648 | $13944 |
| **12/17** | $14489 | $13867 | $14158 |
| **01/18** | $15279 | $14563 | $14922 |
| **02/18** | $14561 | $13905 | $14213 |
| **03/18** | $14331 | $13655 | $13870 |
| **04/18** | $14618 | $13966 | $14298 |
| **05/18** | $14431 | $13652 | $13678 |
| **06/18** | $14129 | $13486 | $13505 |
| **07/18** | $14202 | $13818 | $13892 |
| **08/18** | $13735 | $13551 | $13387 |
| **09/18** | $13998 | $13668 | $13664 |
| **10/18** | $12962 | $12580 | $12757 |
| **11/18** | $12904 | $12565 | $12686 |
| **12/18** | $12032 | $11955 | $12065 |
| **01/19** | $13025 | $12740 | $12873 |
| **02/19** | $13366 | $13065 | $13087 |
| **03/19** | $13292 | $13147 | $13020 |
| **04/19** | $13648 | $13517 | $13324 |
| **05/19** | $12744 | $12868 | $12552 |
| **06/19** | $13485 | $13631 | $13221 |
| **07/19** | $13070 | $13458 | $12924 |
| **08/19** | $12758 | $13110 | $12393 |
| **09/19** | $13262 | $13485 | $12991 |
| **10/19** | $13855 | $13970 | $13460 |
| **11/19** | $14151 | $14127 | $13513 |
| **12/19** | $14663 | $14586 | $14006 |
| **01/20** | $14049 | $14282 | $13500 |
| **02/20** | $12792 | $12991 | $12222 |
| **03/20** | $10230 | $11257 | $10057 |
| **04/20** | $11120 | $11984 | $10595 |
| **05/20** | $11718 | $12506 | $10917 |
| **06/20** | $12046 | $12932 | $11307 |
| **07/20** | $12108 | $13233 | $11329 |
| **08/20** | $12787 | $13914 | $11992 |
| **09/20** | $12216 | $13552 | $11441 |
| **10/20** | $11615 | $13011 | $10980 |
| **11/20** | $13728 | $15028 | $13060 |
| **12/20** | $14571 | $15726 | $13638 |
| **01/21** | $14369 | $15559 | $13532 |
| **02/21** | $15131 | $15908 | $14177 |
| **03/21** | $15799 | $16274 | $14654 |
| **04/21** | $16095 | $16763 | $14934 |
| **05/21** | $16701 | $17310 | $15451 |
| **06/21** | $16046 | $17115 | $15095 |
| **07/21** | $15953 | $17244 | $15058 |
| **08/21** | $16358 | $17548 | $15229 |
| **09/21** | $16046 | $17039 | $14949 |
| **10/21** | $16280 | $17458 | $15187 |
| **11/21** | $15236 | $16645 | $14274 |
| **12/21** | $16069 | $17498 | $15124 |
| **01/22** | $16358 | $16652 | $15281 |
| **02/22** | $15796 | $16358 | $15074 |
| **03/22** | $15651 | $16463 | $15174 |
| **04/22** | $14833 | $15398 | $14407 |
| **05/22** | $15539 | $15513 | $14761 |
| **06/22** | $13870 | $14074 | $13291 |
| **07/22** | $14178 | $14775 | $13568 |
| **08/22** | $13886 | $14073 | $13110 |
| **09/22** | $12684 | $12757 | $11935 |
| **10/22** | $13561 | $13443 | $12705 |
| **11/22** | $15088 | $14957 | $14101 |
| **12/22** | $15038 | $14969 | $14279 |
| **01/23** | $16098 | $16181 | $15382 |
| **02/23** | $15788 | $15844 | $15166 |
| **03/23** | $15804 | $16236 | $15127 |
| **04/23** | $16408 | $16695 | $15614 |
| **05/23** | $15347 | $15988 | $14773 |
| **06/23** | $16100 | $16716 | $15604 |
| **07/23** | $16760 | $17257 | $16314 |
| **08/23** | $16413 | $16595 | $15830 |
| **09/23** | $16133 | $16029 | $15696 |
| **10/23** | $15654 | $15379 | $15005 |
| **11/23** | $16661 | $16806 | $16194 |
| **12/23** | $17377 | $17699 | $16985 |
| **01/24** | $17072 | $17801 | $16974 |
| **02/24** | $16903 | $18127 | $17005 |
| **03/24** | $17681 | $18723 | $17747 |
| **04/24** | $17563 | $18244 | $17565 |
| **05/24** | $18663 | $18950 | $18257 |
| **06/24** | $17854 | $18644 | $17749 |
| **07/24** | $18748 | $19191 | $18581 |
| **08/24** | $19229 | $19815 | $19057 |
| **09/24** | $19332 | $19998 | $19327 |
| **10/24** | $18473 | $18911 | $18419 |
| **11/24** | $18713 | $18803 | $18277 |
| **12/24** | $18118 | $18376 | $17951 |
| **01/25** | $18970 | $19341 | $18867 |
| **02/25** | $19592 | $19717 | $19570 |
| **03/25** | $20444 | $19637 | $20027 |
| **04/25** | $21066 | $20536 | $20839 |
| **05/25** | $22025 | $21476 | $21675 |
| **06/25** | $22896 | $21949 | $22052 |
| **07/25** | $22825 | $21641 | $22108 |
| **08/25** | $24299 | $22564 | $23374 |
| **09/25** | $24850 | $22996 | $23681 |
| **10/25** | $24548 | $23266 | $23861 |
| **11/25** | $25507 | $23411 | $24510 |
| **12/25** | $26241 | $24113 | $25535 |
| **01/26** | $28003 | $25371 | $26990 |
| **02/26** | $29516 | $26545 | $28590 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class R<sup>Footnote Reference(a)</sup> | 50.66 | 14.30 | 11.43 |
| MSCI EAFE Index (Net) | 34.63 | 10.78 | 10.26 |
| MSCI EAFE Value Index (Net) | 46.09 | 15.06 | 11.08 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to March 1, 2016 (including Since Fund Inception returns, if shown) include the returns of Institutional Class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6862784805 |
| **Total number of portfolio holdings** | 122 |
| **Management services fees (represents 0.74% of Fund average net assets)** | $36638729 |
| **Portfolio turnover for the reporting period** | 57% |

---

Columbia Overseas Value Fund \| Class R **\|** ASR208_12_(04/26) \|

## 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

---

| | |
|:---|:---|
| Japan | 21.9% |
| United States | 12.4% |
| France | 8.4% |
| United Kingdom | 7.8% |
| Netherlands | 5.0% |
| Canada | 4.4% |
| Hong Kong | 4.4% |
| Spain | 4.0% |
| Australia | 3.7% |
| Germany | 3.5% |
| Other | 24.7% |

---

### Top Holdings

---

| | |
|:---|:---|
| Shell PLC | 3.1% |
| Banco Santander SA | 3.0% |
| TotalEnergies SE | 2.6% |
| AXA SA | 2.4% |
| Imperial Brands PLC | 2.3% |
| Sumitomo Mitsui Financial Group, Inc. | 2.3% |
| Northern Star Resources Ltd. | 2.1% |
| Primo Brands Corp., Class A | 2.0% |
| ASR Nederland NV | 1.9% |
| Ping An Insurance Group Co. of China Ltd., Class H | 1.9% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 33.5% |
| Consumer Staples | 12.2% |
| Energy | 12.1% |
| Industrials | 7.4% |
| Materials | 7.2% |
| Health Care | 6.2% |
| Consumer Discretionary | 6.0% |
| Information Technology | 4.6% |
| Real Estate | 4.5% |
| Utilities | 2.9% |
| Other | 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, 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](g250382g50k50.jpg)

Columbia Overseas Value Fund \| Class R **\|** ASR208_12_(04/26) \|

# Columbia Overseas Value Fund
Class S \| COSBX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Overseas Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $113 | 0.90% |

---

## Management's Discussion of Fund Performance
The performance of Class S shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, energy and materials sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the communication services and materials sectors buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Energy Fuels, an American rare earths and uranium company; Northern Star Resources, an Australian gold miner; Piraeus Bank, a Greek bank; Pan American Silver, a Canadian silver miner; and Impala Platinum, a South African platinum miner, contributed to the Fund's relative performance during the annual period.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, health care and consumer discretionary sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Larger weightings in the information technology and consumer staples sectors and a smaller weighting in the financials sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Check Point Software Technologies, an Israeli cybersecurity company; Burford Capital, a litigation finance company; Flutter Entertainment, an Irish-American gambling company; Sankyo, a Japanese pachinko machine maker; and an overweight in MatsukiyoCocokara, a Japanese pharmacy chain, detracted from the Fund's relative performance during the annual period.

Columbia Overseas Value Fund \| Class S **\|** ASR208_16_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g40t61.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Overseas Value Fund Class S ($31004)** | **MSCI EAFE Index (Net) ($26545)** | **MSCI EAFE Value Index (Net) ($28590)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10737 | $10651 | $10660 |
| **04/16** | $10912 | $10959 | $11080 |
| **05/16** | $10965 | $10859 | $10904 |
| **06/16** | $10322 | $10495 | $10362 |
| **07/16** | $10777 | $11027 | $10907 |
| **08/16** | $10871 | $11035 | $11083 |
| **09/16** | $11059 | $11170 | $11191 |
| **10/16** | $10912 | $10942 | $11217 |
| **11/16** | $10925 | $10724 | $11148 |
| **12/16** | $11239 | $11091 | $11658 |
| **01/17** | $11581 | $11412 | $11945 |
| **02/17** | $11663 | $11575 | $12027 |
| **03/17** | $12046 | $11894 | $12363 |
| **04/17** | $12415 | $12197 | $12622 |
| **05/17** | $12839 | $12644 | $12915 |
| **06/17** | $12962 | $12622 | $12954 |
| **07/17** | $13550 | $12986 | $13387 |
| **08/17** | $13577 | $12981 | $13303 |
| **09/17** | $14055 | $13304 | $13714 |
| **10/17** | $14178 | $13506 | $13820 |
| **11/17** | $14384 | $13648 | $13944 |
| **12/17** | $14617 | $13867 | $14158 |
| **01/18** | $15423 | $14563 | $14922 |
| **02/18** | $14688 | $13905 | $14213 |
| **03/18** | $14475 | $13655 | $13870 |
| **04/18** | $14773 | $13966 | $14298 |
| **05/18** | $14589 | $13652 | $13678 |
| **06/18** | $14289 | $13486 | $13505 |
| **07/18** | $14375 | $13818 | $13892 |
| **08/18** | $13901 | $13551 | $13387 |
| **09/18** | $14159 | $13668 | $13664 |
| **10/18** | $13125 | $12580 | $12757 |
| **11/18** | $13068 | $12565 | $12686 |
| **12/18** | $12210 | $11955 | $12065 |
| **01/19** | $13207 | $12740 | $12873 |
| **02/19** | $13559 | $13065 | $13087 |
| **03/19** | $13500 | $13147 | $13020 |
| **04/19** | $13852 | $13517 | $13324 |
| **05/19** | $12943 | $12868 | $12552 |
| **06/19** | $13699 | $13631 | $13221 |
| **07/19** | $13288 | $13458 | $12924 |
| **08/19** | $12980 | $13110 | $12393 |
| **09/19** | $13508 | $13485 | $12991 |
| **10/19** | $14095 | $13970 | $13460 |
| **11/19** | $14403 | $14127 | $13513 |
| **12/19** | $14937 | $14586 | $14006 |
| **01/20** | $14328 | $14282 | $13500 |
| **02/20** | $13049 | $12991 | $12222 |
| **03/20** | $10430 | $11257 | $10057 |
| **04/20** | $11359 | $11984 | $10595 |
| **05/20** | $11968 | $12506 | $10917 |
| **06/20** | $12294 | $12932 | $11307 |
| **07/20** | $12370 | $13233 | $11329 |
| **08/20** | $13059 | $13914 | $11992 |
| **09/20** | $12493 | $13552 | $11441 |
| **10/20** | $11896 | $13011 | $10980 |
| **11/20** | $14039 | $15028 | $13060 |
| **12/20** | $14925 | $15726 | $13638 |
| **01/21** | $14708 | $15559 | $13532 |
| **02/21** | $15514 | $15908 | $14177 |
| **03/21** | $16196 | $16274 | $14654 |
| **04/21** | $16506 | $16763 | $14934 |
| **05/21** | $17126 | $17310 | $15451 |
| **06/21** | $16469 | $17115 | $15095 |
| **07/21** | $16376 | $17244 | $15058 |
| **08/21** | $16811 | $17548 | $15229 |
| **09/21** | $16500 | $17039 | $14949 |
| **10/21** | $16734 | $17458 | $15187 |
| **11/21** | $15661 | $16645 | $14274 |
| **12/21** | $16532 | $17498 | $15124 |
| **01/22** | $16837 | $16652 | $15281 |
| **02/22** | $16275 | $16358 | $15074 |
| **03/22** | $16114 | $16463 | $15174 |
| **04/22** | $15279 | $15398 | $14407 |
| **05/22** | $16018 | $15513 | $14761 |
| **06/22** | $14299 | $14074 | $13291 |
| **07/22** | $14624 | $14775 | $13568 |
| **08/22** | $14332 | $14073 | $13110 |
| **09/22** | $13097 | $12757 | $11935 |
| **10/22** | $14007 | $13443 | $12705 |
| **11/22** | $15583 | $14957 | $14101 |
| **12/22** | $15547 | $14969 | $14279 |
| **01/23** | $16661 | $16181 | $15382 |
| **02/23** | $16350 | $15844 | $15166 |
| **03/23** | $16350 | $16236 | $15127 |
| **04/23** | $16988 | $16695 | $15614 |
| **05/23** | $15907 | $15988 | $14773 |
| **06/23** | $16693 | $16716 | $15604 |
| **07/23** | $17372 | $17257 | $16314 |
| **08/23** | $17024 | $16595 | $15830 |
| **09/23** | $16759 | $16029 | $15696 |
| **10/23** | $16245 | $15379 | $15005 |
| **11/23** | $17306 | $16806 | $16194 |
| **12/23** | $18050 | $17699 | $16985 |
| **01/24** | $17760 | $17801 | $16974 |
| **02/24** | $17572 | $18127 | $17005 |
| **03/24** | $18391 | $18723 | $17747 |
| **04/24** | $18288 | $18244 | $17565 |
| **05/24** | $19431 | $18950 | $18257 |
| **06/24** | $18596 | $18644 | $17749 |
| **07/24** | $19550 | $19191 | $18581 |
| **08/24** | $20052 | $19815 | $19057 |
| **09/24** | $20173 | $19998 | $19327 |
| **10/24** | $19272 | $18911 | $18419 |
| **11/24** | $19532 | $18803 | $18277 |
| **12/24** | $18906 | $18376 | $17951 |
| **01/25** | $19823 | $19341 | $18867 |
| **02/25** | $20470 | $19717 | $19570 |
| **03/25** | $21386 | $19637 | $20027 |
| **04/25** | $22033 | $20536 | $20839 |
| **05/25** | $23039 | $21476 | $21675 |
| **06/25** | $23974 | $21949 | $22052 |
| **07/25** | $23902 | $21641 | $22108 |
| **08/25** | $25466 | $22564 | $23374 |
| **09/25** | $26059 | $22996 | $23681 |
| **10/25** | $25753 | $23266 | $23861 |
| **11/25** | $26760 | $23411 | $24510 |
| **12/25** | $27550 | $24113 | $25535 |
| **01/26** | $29413 | $25371 | $26990 |
| **02/26** | $31004 | $26545 | $28590 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class S<sup>Footnote Reference(a)</sup> | 51.46 | 14.85 | 11.98 |
| MSCI EAFE Index (Net) | 34.63 | 10.78 | 10.26 |
| MSCI EAFE Value Index (Net) | 46.09 | 15.06 | 11.08 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to October 2, 2024 (including Since Fund Inception returns, if shown) include the returns of Institutional Class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6862784805 |
| **Total number of portfolio holdings** | 122 |
| **Management services fees (represents 0.74% of Fund average net assets)** | $36638729 |
| **Portfolio turnover for the reporting period** | 57% |

---

Columbia Overseas Value Fund \| Class S **\|** ASR208_16_(04/26) \|

## 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

---

| | |
|:---|:---|
| Japan | 21.9% |
| United States | 12.4% |
| France | 8.4% |
| United Kingdom | 7.8% |
| Netherlands | 5.0% |
| Canada | 4.4% |
| Hong Kong | 4.4% |
| Spain | 4.0% |
| Australia | 3.7% |
| Germany | 3.5% |
| Other | 24.7% |

---

### Top Holdings

---

| | |
|:---|:---|
| Shell PLC | 3.1% |
| Banco Santander SA | 3.0% |
| TotalEnergies SE | 2.6% |
| AXA SA | 2.4% |
| Imperial Brands PLC | 2.3% |
| Sumitomo Mitsui Financial Group, Inc. | 2.3% |
| Northern Star Resources Ltd. | 2.1% |
| Primo Brands Corp., Class A | 2.0% |
| ASR Nederland NV | 1.9% |
| Ping An Insurance Group Co. of China Ltd., Class H | 1.9% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 33.5% |
| Consumer Staples | 12.2% |
| Energy | 12.1% |
| Industrials | 7.4% |
| Materials | 7.2% |
| Health Care | 6.2% |
| Consumer Discretionary | 6.0% |
| Information Technology | 4.6% |
| Real Estate | 4.5% |
| Utilities | 2.9% |
| Other | 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, 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](g250382g50k50.jpg)

Columbia Overseas Value Fund \| Class S **\|** ASR208_16_(04/26) \|

# Columbia Overseas Value Fund
Institutional 2 Class \| COSSX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Overseas Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $103 | 0.82% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, energy and materials sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the communication services and materials sectors buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Energy Fuels, an American rare earths and uranium company; Northern Star Resources, an Australian gold miner; Piraeus Bank, a Greek bank; Pan American Silver, a Canadian silver miner; and Impala Platinum, a South African platinum miner, contributed to the Fund's relative performance during the annual period.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, health care and consumer discretionary sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Larger weightings in the information technology and consumer staples sectors and a smaller weighting in the financials sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Check Point Software Technologies, an Israeli cybersecurity company; Burford Capital, a litigation finance company; Flutter Entertainment, an Irish-American gambling company; Sankyo, a Japanese pachinko machine maker; and an overweight in MatsukiyoCocokara, a Japanese pharmacy chain, detracted from the Fund's relative performance during the annual period.

Columbia Overseas Value Fund \| Institutional 2 Class **\|** ASR208_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g92t52.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Overseas Value Fund Institutional 2 Class ($31332)** | **MSCI EAFE Index (Net) ($26545)** | **MSCI EAFE Value Index (Net) ($28590)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10741 | $10651 | $10660 |
| **04/16** | $10930 | $10959 | $11080 |
| **05/16** | $10970 | $10859 | $10904 |
| **06/16** | $10337 | $10495 | $10362 |
| **07/16** | $10795 | $11027 | $10907 |
| **08/16** | $10889 | $11035 | $11083 |
| **09/16** | $11078 | $11170 | $11191 |
| **10/16** | $10930 | $10942 | $11217 |
| **11/16** | $10943 | $10724 | $11148 |
| **12/16** | $11266 | $11091 | $11658 |
| **01/17** | $11596 | $11412 | $11945 |
| **02/17** | $11679 | $11575 | $12027 |
| **03/17** | $12078 | $11894 | $12363 |
| **04/17** | $12450 | $12197 | $12622 |
| **05/17** | $12877 | $12644 | $12915 |
| **06/17** | $13001 | $12622 | $12954 |
| **07/17** | $13593 | $12986 | $13387 |
| **08/17** | $13621 | $12981 | $13303 |
| **09/17** | $14103 | $13304 | $13714 |
| **10/17** | $14227 | $13506 | $13820 |
| **11/17** | $14433 | $13648 | $13944 |
| **12/17** | $14670 | $13867 | $14158 |
| **01/18** | $15484 | $14563 | $14922 |
| **02/18** | $14742 | $13905 | $14213 |
| **03/18** | $14528 | $13655 | $13870 |
| **04/18** | $14827 | $13966 | $14298 |
| **05/18** | $14642 | $13652 | $13678 |
| **06/18** | $14342 | $13486 | $13505 |
| **07/18** | $14429 | $13818 | $13892 |
| **08/18** | $13966 | $13551 | $13387 |
| **09/18** | $14226 | $13668 | $13664 |
| **10/18** | $13183 | $12580 | $12757 |
| **11/18** | $13125 | $12565 | $12686 |
| **12/18** | $12259 | $11955 | $12065 |
| **01/19** | $13265 | $12740 | $12873 |
| **02/19** | $13621 | $13065 | $13087 |
| **03/19** | $13561 | $13147 | $13020 |
| **04/19** | $13917 | $13517 | $13324 |
| **05/19** | $13014 | $12868 | $12552 |
| **06/19** | $13765 | $13631 | $13221 |
| **07/19** | $13350 | $13458 | $12924 |
| **08/19** | $13039 | $13110 | $12393 |
| **09/19** | $13572 | $13485 | $12991 |
| **10/19** | $14165 | $13970 | $13460 |
| **11/19** | $14476 | $14127 | $13513 |
| **12/19** | $15014 | $14586 | $14006 |
| **01/20** | $14398 | $14282 | $13500 |
| **02/20** | $13120 | $12991 | $12222 |
| **03/20** | $10486 | $11257 | $10057 |
| **04/20** | $11410 | $11984 | $10595 |
| **05/20** | $12026 | $12506 | $10917 |
| **06/20** | $12371 | $12932 | $11307 |
| **07/20** | $12449 | $13233 | $11329 |
| **08/20** | $13146 | $13914 | $11992 |
| **09/20** | $12557 | $13552 | $11441 |
| **10/20** | $11953 | $13011 | $10980 |
| **11/20** | $14136 | $15028 | $13060 |
| **12/20** | $15014 | $15726 | $13638 |
| **01/21** | $14810 | $15559 | $13532 |
| **02/21** | $15610 | $15908 | $14177 |
| **03/21** | $16301 | $16274 | $14654 |
| **04/21** | $16614 | $16763 | $14934 |
| **05/21** | $17242 | $17310 | $15451 |
| **06/21** | $16580 | $17115 | $15095 |
| **07/21** | $16485 | $17244 | $15058 |
| **08/21** | $16926 | $17548 | $15229 |
| **09/21** | $16611 | $17039 | $14949 |
| **10/21** | $16847 | $17458 | $15187 |
| **11/21** | $15777 | $16645 | $14274 |
| **12/21** | $16655 | $17498 | $15124 |
| **01/22** | $16964 | $16652 | $15281 |
| **02/22** | $16394 | $16358 | $15074 |
| **03/22** | $16231 | $16463 | $15174 |
| **04/22** | $15401 | $15398 | $14407 |
| **05/22** | $16134 | $15513 | $14761 |
| **06/22** | $14408 | $14074 | $13291 |
| **07/22** | $14738 | $14775 | $13568 |
| **08/22** | $14441 | $14073 | $13110 |
| **09/22** | $13206 | $12757 | $11935 |
| **10/22** | $14112 | $13443 | $12705 |
| **11/22** | $15709 | $14957 | $14101 |
| **12/22** | $15668 | $14969 | $14279 |
| **01/23** | $16798 | $16181 | $15382 |
| **02/23** | $16482 | $15844 | $15166 |
| **03/23** | $16482 | $16236 | $15127 |
| **04/23** | $17130 | $16695 | $15614 |
| **05/23** | $16033 | $15988 | $14773 |
| **06/23** | $16832 | $16716 | $15604 |
| **07/23** | $17522 | $17257 | $16314 |
| **08/23** | $17169 | $16595 | $15830 |
| **09/23** | $16900 | $16029 | $15696 |
| **10/23** | $16395 | $15379 | $15005 |
| **11/23** | $17471 | $16806 | $16194 |
| **12/23** | $18203 | $17699 | $16985 |
| **01/24** | $17909 | $17801 | $16974 |
| **02/24** | $17736 | $18127 | $17005 |
| **03/24** | $18567 | $18723 | $17747 |
| **04/24** | $18446 | $18244 | $17565 |
| **05/24** | $19606 | $18950 | $18257 |
| **06/24** | $18760 | $18644 | $17749 |
| **07/24** | $19728 | $19191 | $18581 |
| **08/24** | $20239 | $19815 | $19057 |
| **09/24** | $20362 | $19998 | $19327 |
| **10/24** | $19464 | $18911 | $18419 |
| **11/24** | $19711 | $18803 | $18277 |
| **12/24** | $19089 | $18376 | $17951 |
| **01/25** | $20003 | $19341 | $18867 |
| **02/25** | $20678 | $19717 | $19570 |
| **03/25** | $21592 | $19637 | $20027 |
| **04/25** | $22249 | $20536 | $20839 |
| **05/25** | $23272 | $21476 | $21675 |
| **06/25** | $24222 | $21949 | $22052 |
| **07/25** | $24149 | $21641 | $22108 |
| **08/25** | $25720 | $22564 | $23374 |
| **09/25** | $26323 | $22996 | $23681 |
| **10/25** | $26012 | $23266 | $23861 |
| **11/25** | $27035 | $23411 | $24510 |
| **12/25** | $27837 | $24113 | $25535 |
| **01/26** | $29713 | $25371 | $26990 |
| **02/26** | $31332 | $26545 | $28590 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 51.52 | 14.95 | 12.10 |
| MSCI EAFE Index (Net) | 34.63 | 10.78 | 10.26 |
| MSCI EAFE Value Index (Net) | 46.09 | 15.06 | 11.08 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6862784805 |
| **Total number of portfolio holdings** | 122 |
| **Management services fees (represents 0.74% of Fund average net assets)** | $36638729 |
| **Portfolio turnover for the reporting period** | 57% |

---

Columbia Overseas Value Fund \| Institutional 2 Class **\|** ASR208_15_(04/26) \|

## 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

---

| | |
|:---|:---|
| Japan | 21.9% |
| United States | 12.4% |
| France | 8.4% |
| United Kingdom | 7.8% |
| Netherlands | 5.0% |
| Canada | 4.4% |
| Hong Kong | 4.4% |
| Spain | 4.0% |
| Australia | 3.7% |
| Germany | 3.5% |
| Other | 24.7% |

---

### Top Holdings

---

| | |
|:---|:---|
| Shell PLC | 3.1% |
| Banco Santander SA | 3.0% |
| TotalEnergies SE | 2.6% |
| AXA SA | 2.4% |
| Imperial Brands PLC | 2.3% |
| Sumitomo Mitsui Financial Group, Inc. | 2.3% |
| Northern Star Resources Ltd. | 2.1% |
| Primo Brands Corp., Class A | 2.0% |
| ASR Nederland NV | 1.9% |
| Ping An Insurance Group Co. of China Ltd., Class H | 1.9% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 33.5% |
| Consumer Staples | 12.2% |
| Energy | 12.1% |
| Industrials | 7.4% |
| Materials | 7.2% |
| Health Care | 6.2% |
| Consumer Discretionary | 6.0% |
| Information Technology | 4.6% |
| Real Estate | 4.5% |
| Utilities | 2.9% |
| Other | 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, 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](g250382g50k50.jpg)

Columbia Overseas Value Fund \| Institutional 2 Class **\|** ASR208_15_(04/26) \|

# Columbia Overseas Value Fund
Institutional 3 Class \| COSYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Overseas Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $97 | 0.77% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, energy and materials sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the communication services and materials sectors buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Energy Fuels, an American rare earths and uranium company; Northern Star Resources, an Australian gold miner; Piraeus Bank, a Greek bank; Pan American Silver, a Canadian silver miner; and Impala Platinum, a South African platinum miner, contributed to the Fund's relative performance during the annual period.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, health care and consumer discretionary sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Larger weightings in the information technology and consumer staples sectors and a smaller weighting in the financials sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Check Point Software Technologies, an Israeli cybersecurity company; Burford Capital, a litigation finance company; Flutter Entertainment, an Irish-American gambling company; Sankyo, a Japanese pachinko machine maker; and an overweight in MatsukiyoCocokara, a Japanese pharmacy chain, detracted from the Fund's relative performance during the annual period.

Columbia Overseas Value Fund \| Institutional 3 Class **\|** ASR208_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g21t12.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Overseas Value Fund Institutional 3 Class ($31502)** | **MSCI EAFE Index (Net) ($26545)** | **MSCI EAFE Value Index (Net) ($28590)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10755 | $10651 | $10660 |
| **04/16** | $10930 | $10959 | $11080 |
| **05/16** | $10984 | $10859 | $10904 |
| **06/16** | $10337 | $10495 | $10362 |
| **07/16** | $10795 | $11027 | $10907 |
| **08/16** | $10889 | $11035 | $11083 |
| **09/16** | $11092 | $11170 | $11191 |
| **10/16** | $10943 | $10942 | $11217 |
| **11/16** | $10957 | $10724 | $11148 |
| **12/16** | $11282 | $11091 | $11658 |
| **01/17** | $11612 | $11412 | $11945 |
| **02/17** | $11695 | $11575 | $12027 |
| **03/17** | $12095 | $11894 | $12363 |
| **04/17** | $12467 | $12197 | $12622 |
| **05/17** | $12894 | $12644 | $12915 |
| **06/17** | $13018 | $12622 | $12954 |
| **07/17** | $13610 | $12986 | $13387 |
| **08/17** | $13637 | $12981 | $13303 |
| **09/17** | $14120 | $13304 | $13714 |
| **10/17** | $14243 | $13506 | $13820 |
| **11/17** | $14464 | $13648 | $13944 |
| **12/17** | $14693 | $13867 | $14158 |
| **01/18** | $15507 | $14563 | $14922 |
| **02/18** | $14779 | $13905 | $14213 |
| **03/18** | $14550 | $13655 | $13870 |
| **04/18** | $14850 | $13966 | $14298 |
| **05/18** | $14665 | $13652 | $13678 |
| **06/18** | $14366 | $13486 | $13505 |
| **07/18** | $14453 | $13818 | $13892 |
| **08/18** | $13989 | $13551 | $13387 |
| **09/18** | $14250 | $13668 | $13664 |
| **10/18** | $13206 | $12580 | $12757 |
| **11/18** | $13148 | $12565 | $12686 |
| **12/18** | $12286 | $11955 | $12065 |
| **01/19** | $13293 | $12740 | $12873 |
| **02/19** | $13649 | $13065 | $13087 |
| **03/19** | $13590 | $13147 | $13020 |
| **04/19** | $13946 | $13517 | $13324 |
| **05/19** | $13042 | $12868 | $12552 |
| **06/19** | $13794 | $13631 | $13221 |
| **07/19** | $13393 | $13458 | $12924 |
| **08/19** | $13067 | $13110 | $12393 |
| **09/19** | $13601 | $13485 | $12991 |
| **10/19** | $14209 | $13970 | $13460 |
| **11/19** | $14521 | $14127 | $13513 |
| **12/19** | $15063 | $14586 | $14006 |
| **01/20** | $14431 | $14282 | $13500 |
| **02/20** | $13151 | $12991 | $12222 |
| **03/20** | $10515 | $11257 | $10057 |
| **04/20** | $11440 | $11984 | $10595 |
| **05/20** | $12057 | $12506 | $10917 |
| **06/20** | $12402 | $12932 | $11307 |
| **07/20** | $12480 | $13233 | $11329 |
| **08/20** | $13177 | $13914 | $11992 |
| **09/20** | $12604 | $13552 | $11441 |
| **10/20** | $11984 | $13011 | $10980 |
| **11/20** | $14169 | $15028 | $13060 |
| **12/20** | $15053 | $15726 | $13638 |
| **01/21** | $14849 | $15559 | $13532 |
| **02/21** | $15650 | $15908 | $14177 |
| **03/21** | $16358 | $16274 | $14654 |
| **04/21** | $16656 | $16763 | $14934 |
| **05/21** | $17285 | $17310 | $15451 |
| **06/21** | $16638 | $17115 | $15095 |
| **07/21** | $16528 | $17244 | $15058 |
| **08/21** | $16970 | $17548 | $15229 |
| **09/21** | $16654 | $17039 | $14949 |
| **10/21** | $16907 | $17458 | $15187 |
| **11/21** | $15818 | $16645 | $14274 |
| **12/21** | $16705 | $17498 | $15124 |
| **01/22** | $17015 | $16652 | $15281 |
| **02/22** | $16444 | $16358 | $15074 |
| **03/22** | $16281 | $16463 | $15174 |
| **04/22** | $15449 | $15398 | $14407 |
| **05/22** | $16199 | $15513 | $14761 |
| **06/22** | $14454 | $14074 | $13291 |
| **07/22** | $14784 | $14775 | $13568 |
| **08/22** | $14487 | $14073 | $13110 |
| **09/22** | $13250 | $12757 | $11935 |
| **10/22** | $14174 | $13443 | $12705 |
| **11/22** | $15774 | $14957 | $14101 |
| **12/22** | $15722 | $14969 | $14279 |
| **01/23** | $16855 | $16181 | $15382 |
| **02/23** | $16538 | $15844 | $15166 |
| **03/23** | $16555 | $16236 | $15127 |
| **04/23** | $17205 | $16695 | $15614 |
| **05/23** | $16105 | $15988 | $14773 |
| **06/23** | $16908 | $16716 | $15604 |
| **07/23** | $17599 | $17257 | $16314 |
| **08/23** | $17245 | $16595 | $15830 |
| **09/23** | $16958 | $16029 | $15696 |
| **10/23** | $16453 | $15379 | $15005 |
| **11/23** | $17531 | $16806 | $16194 |
| **12/23** | $18290 | $17699 | $16985 |
| **01/24** | $17995 | $17801 | $16974 |
| **02/24** | $17821 | $18127 | $17005 |
| **03/24** | $18637 | $18723 | $17747 |
| **04/24** | $18533 | $18244 | $17565 |
| **05/24** | $19697 | $18950 | $18257 |
| **06/24** | $18850 | $18644 | $17749 |
| **07/24** | $19821 | $19191 | $18581 |
| **08/24** | $20333 | $19815 | $19057 |
| **09/24** | $20457 | $19998 | $19327 |
| **10/24** | $19556 | $18911 | $18419 |
| **11/24** | $19804 | $18803 | $18277 |
| **12/24** | $19188 | $18376 | $17951 |
| **01/25** | $20104 | $19341 | $18867 |
| **02/25** | $20783 | $19717 | $19570 |
| **03/25** | $21699 | $19637 | $20027 |
| **04/25** | $22359 | $20536 | $20839 |
| **05/25** | $23385 | $21476 | $21675 |
| **06/25** | $24338 | $21949 | $22052 |
| **07/25** | $24283 | $21641 | $22108 |
| **08/25** | $25859 | $22564 | $23374 |
| **09/25** | $26446 | $22996 | $23681 |
| **10/25** | $26152 | $23266 | $23861 |
| **11/25** | $27179 | $23411 | $24510 |
| **12/25** | $27995 | $24113 | $25535 |
| **01/26** | $29877 | $25371 | $26990 |
| **02/26** | $31502 | $26545 | $28590 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class | 51.58 | 15.02 | 12.16 |
| MSCI EAFE Index (Net) | 34.63 | 10.78 | 10.26 |
| MSCI EAFE Value Index (Net) | 46.09 | 15.06 | 11.08 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6862784805 |
| **Total number of portfolio holdings** | 122 |
| **Management services fees (represents 0.74% of Fund average net assets)** | $36638729 |
| **Portfolio turnover for the reporting period** | 57% |

---

Columbia Overseas Value Fund \| Institutional 3 Class **\|** ASR208_17_(04/26) \|

## 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

---

| | |
|:---|:---|
| Japan | 21.9% |
| United States | 12.4% |
| France | 8.4% |
| United Kingdom | 7.8% |
| Netherlands | 5.0% |
| Canada | 4.4% |
| Hong Kong | 4.4% |
| Spain | 4.0% |
| Australia | 3.7% |
| Germany | 3.5% |
| Other | 24.7% |

---

### Top Holdings

---

| | |
|:---|:---|
| Shell PLC | 3.1% |
| Banco Santander SA | 3.0% |
| TotalEnergies SE | 2.6% |
| AXA SA | 2.4% |
| Imperial Brands PLC | 2.3% |
| Sumitomo Mitsui Financial Group, Inc. | 2.3% |
| Northern Star Resources Ltd. | 2.1% |
| Primo Brands Corp., Class A | 2.0% |
| ASR Nederland NV | 1.9% |
| Ping An Insurance Group Co. of China Ltd., Class H | 1.9% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 33.5% |
| Consumer Staples | 12.2% |
| Energy | 12.1% |
| Industrials | 7.4% |
| Materials | 7.2% |
| Health Care | 6.2% |
| Consumer Discretionary | 6.0% |
| Information Technology | 4.6% |
| Real Estate | 4.5% |
| Utilities | 2.9% |
| Other | 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, 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](g250382g50k50.jpg)

Columbia Overseas Value Fund \| Institutional 3 Class **\|** ASR208_17_(04/26) \|

# Columbia Overseas Value Fund
Institutional Class \| COSZX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Overseas Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $113 | 0.90% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, energy and materials sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the communication services and materials sectors buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Energy Fuels, an American rare earths and uranium company; Northern Star Resources, an Australian gold miner; Piraeus Bank, a Greek bank; Pan American Silver, a Canadian silver miner; and Impala Platinum, a South African platinum miner, contributed to the Fund's relative performance during the annual period.

### Top Performance Detractors
**Stock selection \|** Selections in the information technology, health care and consumer discretionary sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Larger weightings in the information technology and consumer staples sectors and a smaller weighting in the financials sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Check Point Software Technologies, an Israeli cybersecurity company; Burford Capital, a litigation finance company; Flutter Entertainment, an Irish-American gambling company; Sankyo, a Japanese pachinko machine maker; and an overweight in MatsukiyoCocokara, a Japanese pharmacy chain, detracted from the Fund's relative performance during the annual period.

Columbia Overseas Value Fund \| Institutional Class **\|** ASR208_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g14i04.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Overseas Value Fund Institutional Class ($31003)** | **MSCI EAFE Index (Net) ($26545)** | **MSCI EAFE Value Index (Net) ($28590)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10737 | $10651 | $10660 |
| **04/16** | $10912 | $10959 | $11080 |
| **05/16** | $10965 | $10859 | $10904 |
| **06/16** | $10322 | $10495 | $10362 |
| **07/16** | $10777 | $11027 | $10907 |
| **08/16** | $10871 | $11035 | $11083 |
| **09/16** | $11059 | $11170 | $11191 |
| **10/16** | $10912 | $10942 | $11217 |
| **11/16** | $10925 | $10724 | $11148 |
| **12/16** | $11239 | $11091 | $11658 |
| **01/17** | $11581 | $11412 | $11945 |
| **02/17** | $11663 | $11575 | $12027 |
| **03/17** | $12046 | $11894 | $12363 |
| **04/17** | $12415 | $12197 | $12622 |
| **05/17** | $12839 | $12644 | $12915 |
| **06/17** | $12962 | $12622 | $12954 |
| **07/17** | $13550 | $12986 | $13387 |
| **08/17** | $13577 | $12981 | $13303 |
| **09/17** | $14055 | $13304 | $13714 |
| **10/17** | $14178 | $13506 | $13820 |
| **11/17** | $14384 | $13648 | $13944 |
| **12/17** | $14617 | $13867 | $14158 |
| **01/18** | $15423 | $14563 | $14922 |
| **02/18** | $14688 | $13905 | $14213 |
| **03/18** | $14475 | $13655 | $13870 |
| **04/18** | $14773 | $13966 | $14298 |
| **05/18** | $14589 | $13652 | $13678 |
| **06/18** | $14289 | $13486 | $13505 |
| **07/18** | $14375 | $13818 | $13892 |
| **08/18** | $13901 | $13551 | $13387 |
| **09/18** | $14159 | $13668 | $13664 |
| **10/18** | $13125 | $12580 | $12757 |
| **11/18** | $13068 | $12565 | $12686 |
| **12/18** | $12210 | $11955 | $12065 |
| **01/19** | $13207 | $12740 | $12873 |
| **02/19** | $13559 | $13065 | $13087 |
| **03/19** | $13500 | $13147 | $13020 |
| **04/19** | $13852 | $13517 | $13324 |
| **05/19** | $12943 | $12868 | $12552 |
| **06/19** | $13699 | $13631 | $13221 |
| **07/19** | $13288 | $13458 | $12924 |
| **08/19** | $12980 | $13110 | $12393 |
| **09/19** | $13508 | $13485 | $12991 |
| **10/19** | $14095 | $13970 | $13460 |
| **11/19** | $14403 | $14127 | $13513 |
| **12/19** | $14937 | $14586 | $14006 |
| **01/20** | $14328 | $14282 | $13500 |
| **02/20** | $13049 | $12991 | $12222 |
| **03/20** | $10430 | $11257 | $10057 |
| **04/20** | $11359 | $11984 | $10595 |
| **05/20** | $11968 | $12506 | $10917 |
| **06/20** | $12294 | $12932 | $11307 |
| **07/20** | $12370 | $13233 | $11329 |
| **08/20** | $13059 | $13914 | $11992 |
| **09/20** | $12493 | $13552 | $11441 |
| **10/20** | $11896 | $13011 | $10980 |
| **11/20** | $14039 | $15028 | $13060 |
| **12/20** | $14925 | $15726 | $13638 |
| **01/21** | $14708 | $15559 | $13532 |
| **02/21** | $15514 | $15908 | $14177 |
| **03/21** | $16196 | $16274 | $14654 |
| **04/21** | $16506 | $16763 | $14934 |
| **05/21** | $17126 | $17310 | $15451 |
| **06/21** | $16469 | $17115 | $15095 |
| **07/21** | $16376 | $17244 | $15058 |
| **08/21** | $16811 | $17548 | $15229 |
| **09/21** | $16500 | $17039 | $14949 |
| **10/21** | $16734 | $17458 | $15187 |
| **11/21** | $15661 | $16645 | $14274 |
| **12/21** | $16532 | $17498 | $15124 |
| **01/22** | $16837 | $16652 | $15281 |
| **02/22** | $16275 | $16358 | $15074 |
| **03/22** | $16114 | $16463 | $15174 |
| **04/22** | $15279 | $15398 | $14407 |
| **05/22** | $16018 | $15513 | $14761 |
| **06/22** | $14299 | $14074 | $13291 |
| **07/22** | $14624 | $14775 | $13568 |
| **08/22** | $14332 | $14073 | $13110 |
| **09/22** | $13097 | $12757 | $11935 |
| **10/22** | $14007 | $13443 | $12705 |
| **11/22** | $15583 | $14957 | $14101 |
| **12/22** | $15547 | $14969 | $14279 |
| **01/23** | $16661 | $16181 | $15382 |
| **02/23** | $16350 | $15844 | $15166 |
| **03/23** | $16350 | $16236 | $15127 |
| **04/23** | $16988 | $16695 | $15614 |
| **05/23** | $15907 | $15988 | $14773 |
| **06/23** | $16693 | $16716 | $15604 |
| **07/23** | $17372 | $17257 | $16314 |
| **08/23** | $17024 | $16595 | $15830 |
| **09/23** | $16759 | $16029 | $15696 |
| **10/23** | $16245 | $15379 | $15005 |
| **11/23** | $17306 | $16806 | $16194 |
| **12/23** | $18050 | $17699 | $16985 |
| **01/24** | $17760 | $17801 | $16974 |
| **02/24** | $17572 | $18127 | $17005 |
| **03/24** | $18391 | $18723 | $17747 |
| **04/24** | $18288 | $18244 | $17565 |
| **05/24** | $19431 | $18950 | $18257 |
| **06/24** | $18596 | $18644 | $17749 |
| **07/24** | $19550 | $19191 | $18581 |
| **08/24** | $20052 | $19815 | $19057 |
| **09/24** | $20173 | $19998 | $19327 |
| **10/24** | $19272 | $18911 | $18419 |
| **11/24** | $19532 | $18803 | $18277 |
| **12/24** | $18905 | $18376 | $17951 |
| **01/25** | $19822 | $19341 | $18867 |
| **02/25** | $20469 | $19717 | $19570 |
| **03/25** | $21385 | $19637 | $20027 |
| **04/25** | $22032 | $20536 | $20839 |
| **05/25** | $23039 | $21476 | $21675 |
| **06/25** | $23973 | $21949 | $22052 |
| **07/25** | $23901 | $21641 | $22108 |
| **08/25** | $25465 | $22564 | $23374 |
| **09/25** | $26058 | $22996 | $23681 |
| **10/25** | $25752 | $23266 | $23861 |
| **11/25** | $26759 | $23411 | $24510 |
| **12/25** | $27549 | $24113 | $25535 |
| **01/26** | $29412 | $25371 | $26990 |
| **02/26** | $31003 | $26545 | $28590 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 51.46 | 14.85 | 11.98 |
| MSCI EAFE Index (Net) | 34.63 | 10.78 | 10.26 |
| MSCI EAFE Value Index (Net) | 46.09 | 15.06 | 11.08 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6862784805 |
| **Total number of portfolio holdings** | 122 |
| **Management services fees (represents 0.74% of Fund average net assets)** | $36638729 |
| **Portfolio turnover for the reporting period** | 57% |

---

Columbia Overseas Value Fund \| Institutional Class **\|** ASR208_08_(04/26) \|

## 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

---

| | |
|:---|:---|
| Japan | 21.9% |
| United States | 12.4% |
| France | 8.4% |
| United Kingdom | 7.8% |
| Netherlands | 5.0% |
| Canada | 4.4% |
| Hong Kong | 4.4% |
| Spain | 4.0% |
| Australia | 3.7% |
| Germany | 3.5% |
| Other | 24.7% |

---

### Top Holdings

---

| | |
|:---|:---|
| Shell PLC | 3.1% |
| Banco Santander SA | 3.0% |
| TotalEnergies SE | 2.6% |
| AXA SA | 2.4% |
| Imperial Brands PLC | 2.3% |
| Sumitomo Mitsui Financial Group, Inc. | 2.3% |
| Northern Star Resources Ltd. | 2.1% |
| Primo Brands Corp., Class A | 2.0% |
| ASR Nederland NV | 1.9% |
| Ping An Insurance Group Co. of China Ltd., Class H | 1.9% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 33.5% |
| Consumer Staples | 12.2% |
| Energy | 12.1% |
| Industrials | 7.4% |
| Materials | 7.2% |
| Health Care | 6.2% |
| Consumer Discretionary | 6.0% |
| Information Technology | 4.6% |
| Real Estate | 4.5% |
| Utilities | 2.9% |
| Other | 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, 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](g250382g50k50.jpg)

Columbia Overseas Value Fund \| Institutional Class **\|** ASR208_08_(04/26) \|

# Columbia Select Mid Cap Value Fund
Class A \| CMUAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Select Mid Cap Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $129 | 1.13% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the industrials, information technology and real estate sectors contributed to the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the consumer staples, materials and industrials sectors lifted the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Corning, a manufacturer of specialty glass, ceramics, and optical materials; Teradyne, a leading supplier of automated test equipment used across semiconductor and electronics markets; ATI, a producer of high performance materials and components for aerospace and defense applications; CACI, a provider of information technology and professional services for government clients; and Freeport-McMoRan, Inc., one of the world's largest publicly traded producers of copper and other critical minerals, were top contributors during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, financials and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the information technology, financials and energy sectors detracted from the Fund's relative performance.

**Individual holdings \|** Positions in Kemper, a provider of insurance products across property, casualty, and life markets; SanDisk, a global manufacturer of flash memory storage solutions; Western Digital, a leading developer of hard disk drives and data storage technologies; Global Payments, a provider of payment technology and software solutions to merchants worldwide; and Voya Financial, a diversified financial services company specializing in retirement, investment, and insurance products, were top detractors during the period.

Columbia Select Mid Cap Value Fund \| Class A **\|** ASR197_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g74a91.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Select Mid Cap Value Fund Class A (including sales charges) ($30402)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell Midcap<sup>®</sup> Value Index ($29181)** |
| **02/16** | $9422 | $10000 | $10000 |
| **03/16** | $10244 | $10704 | $10923 |
| **04/16** | $10412 | $10770 | $11158 |
| **05/16** | $10603 | $10963 | $11340 |
| **06/16** | $10588 | $10986 | $11444 |
| **07/16** | $10888 | $11422 | $11929 |
| **08/16** | $10925 | $11451 | $11903 |
| **09/16** | $10942 | $11469 | $11953 |
| **10/16** | $10649 | $11221 | $11663 |
| **11/16** | $11302 | $11723 | $12393 |
| **12/16** | $11562 | $11952 | $12613 |
| **01/17** | $11712 | $12176 | $12825 |
| **02/17** | $12005 | $12629 | $13184 |
| **03/17** | $11963 | $12638 | $13088 |
| **04/17** | $11987 | $12772 | $13112 |
| **05/17** | $12058 | $12903 | $13072 |
| **06/17** | $12175 | $13019 | $13266 |
| **07/17** | $12240 | $13264 | $13442 |
| **08/17** | $12003 | $13290 | $13191 |
| **09/17** | $12403 | $13614 | $13551 |
| **10/17** | $12583 | $13911 | $13660 |
| **11/17** | $12969 | $14334 | $14122 |
| **12/17** | $13104 | $14477 | $14296 |
| **01/18** | $13362 | $15240 | $14625 |
| **02/18** | $12720 | $14678 | $13904 |
| **03/18** | $12727 | $14384 | $13938 |
| **04/18** | $12813 | $14438 | $14008 |
| **05/18** | $12938 | $14846 | $14160 |
| **06/18** | $12970 | $14943 | $14274 |
| **07/18** | $13337 | $15439 | $14662 |
| **08/18** | $13439 | $15981 | $14862 |
| **09/18** | $13379 | $16008 | $14744 |
| **10/18** | $12360 | $14829 | $13682 |
| **11/18** | $12553 | $15126 | $14010 |
| **12/18** | $11340 | $13718 | $12539 |
| **01/19** | $12614 | $14896 | $13830 |
| **02/19** | $13175 | $15419 | $14270 |
| **03/19** | $13189 | $15645 | $14342 |
| **04/19** | $13802 | $16269 | $14814 |
| **05/19** | $12806 | $15216 | $13863 |
| **06/19** | $13687 | $16285 | $14799 |
| **07/19** | $13892 | $16527 | $14922 |
| **08/19** | $13482 | $16190 | $14396 |
| **09/19** | $13961 | $16475 | $14980 |
| **10/19** | $13858 | $16829 | $15061 |
| **11/19** | $14282 | $17469 | $15462 |
| **12/19** | $14890 | $17973 | $15933 |
| **01/20** | $14455 | $17954 | $15623 |
| **02/20** | $12849 | $16484 | $14076 |
| **03/20** | $9992 | $14217 | $10881 |
| **04/20** | $11340 | $16100 | $12334 |
| **05/20** | $11776 | $16961 | $12906 |
| **06/20** | $11870 | $17349 | $13051 |
| **07/20** | $12539 | $18334 | $13668 |
| **08/20** | $13099 | $19662 | $14209 |
| **09/20** | $12940 | $18946 | $13887 |
| **10/20** | $13104 | $18537 | $14016 |
| **11/20** | $15224 | $20792 | $15984 |
| **12/20** | $15855 | $21728 | $16724 |
| **01/21** | $15649 | $21631 | $16685 |
| **02/21** | $17114 | $22307 | $17978 |
| **03/21** | $17988 | $23107 | $18906 |
| **04/21** | $18851 | $24298 | $19821 |
| **05/21** | $19208 | $24409 | $20212 |
| **06/21** | $18808 | $25010 | $19977 |
| **07/21** | $18780 | $25433 | $20100 |
| **08/21** | $19016 | $26159 | $20531 |
| **09/21** | $18479 | $24985 | $19775 |
| **10/21** | $19480 | $26675 | $20828 |
| **11/21** | $19507 | $26269 | $20195 |
| **12/21** | $20922 | $27303 | $21463 |
| **01/22** | $19922 | $25697 | $20547 |
| **02/22** | $20220 | $25049 | $20451 |
| **03/22** | $20391 | $25862 | $21072 |
| **04/22** | $19150 | $23541 | $19820 |
| **05/22** | $19703 | $23509 | $20201 |
| **06/22** | $17570 | $21543 | $17980 |
| **07/22** | $19130 | $23564 | $19527 |
| **08/22** | $18693 | $22684 | $18930 |
| **09/22** | $16972 | $20581 | $17094 |
| **10/22** | $18769 | $22269 | $18708 |
| **11/22** | $19894 | $23431 | $19891 |
| **12/22** | $18945 | $22059 | $18880 |
| **01/23** | $20408 | $23578 | $20406 |
| **02/23** | $19836 | $23027 | $19752 |
| **03/23** | $19061 | $23643 | $19130 |
| **04/23** | $19108 | $23895 | $19131 |
| **05/23** | $18152 | $23988 | $18283 |
| **06/23** | $19837 | $25626 | $19868 |
| **07/23** | $20463 | $26544 | $20733 |
| **08/23** | $19645 | $26032 | $20000 |
| **09/23** | $18537 | $24792 | $18982 |
| **10/23** | $17604 | $24135 | $18042 |
| **11/23** | $19485 | $26385 | $19743 |
| **12/23** | $20887 | $27785 | $21281 |
| **01/24** | $20774 | $28093 | $20900 |
| **02/24** | $21580 | $29613 | $21898 |
| **03/24** | $22806 | $30569 | $23031 |
| **04/24** | $22014 | $29224 | $21826 |
| **05/24** | $22644 | $30604 | $22610 |
| **06/24** | $22268 | $31552 | $22248 |
| **07/24** | $23692 | $32138 | $23592 |
| **08/24** | $24020 | $32838 | $24037 |
| **09/24** | $24365 | $33517 | $24490 |
| **10/24** | $23889 | $33271 | $24182 |
| **11/24** | $25300 | $35484 | $25962 |
| **12/24** | $23573 | $34400 | $24062 |
| **01/25** | $24209 | $35486 | $24908 |
| **02/25** | $23797 | $34806 | $24454 |
| **03/25** | $22951 | $32775 | $23554 |
| **04/25** | $22262 | $32556 | $22970 |
| **05/25** | $23382 | $34619 | $23972 |
| **06/25** | $24257 | $36378 | $24814 |
| **07/25** | $24768 | $37179 | $25259 |
| **08/25** | $25842 | $38039 | $26017 |
| **09/25** | $26144 | $39352 | $26347 |
| **10/25** | $26038 | $40196 | $26083 |
| **11/25** | $26743 | $40306 | $26705 |
| **12/25** | $26783 | $40298 | $26721 |
| **01/26** | $28032 | $40923 | $27866 |
| **02/26** | $30402 | $40728 | $29181 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A (excluding sales charges) | 27.76 | 12.18 | 12.43 |
| Class A (including sales charges) | 20.45 | 10.86 | 11.76 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell Midcap<sup>®</sup> Value Index | 19.33 | 10.17 | 11.30 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2904196404 |
| **Total number of portfolio holdings** | 49 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $18121891 |
| **Portfolio turnover for the reporting period** | 15% |

---

Columbia Select Mid Cap Value Fund \| Class A **\|** ASR197_01_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 15.7% |
| Information Technology | 10.7% |
| Consumer Discretionary | 9.5% |
| Real Estate | 8.3% |
| Utilities | 8.1% |
| Health Care | 7.6% |
| Consumer Staples | 5.6% |
| Materials | 5.6% |
| Energy | 5.5% |
| Other | 4.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| Corning, Inc. | 3.5% |
| Entergy Corp. | 3.3% |
| AMETEK, Inc. | 2.9% |
| ITT, Inc. | 2.9% |
| Ameren Corp. | 2.9% |
| Marathon Petroleum Corp. | 2.9% |
| Southwest Airlines Co. | 2.7% |
| Welltower, Inc. | 2.7% |
| Devon Energy Corp. | 2.6% |
| Quest Diagnostics, Inc. | 2.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.8% |

---

## 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.

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](g250382g50k50.jpg)

Columbia Select Mid Cap Value Fund \| Class A **\|** ASR197_01_(04/26) \|

# Columbia Select Mid Cap Value Fund
Class C \| CMUCX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Select Mid Cap Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $213 | 1.88% |

---

## Management's Discussion of Fund Performance
The performance of Class C shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the industrials, information technology and real estate sectors contributed to the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the consumer staples, materials and industrials sectors lifted the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Corning, a manufacturer of specialty glass, ceramics, and optical materials; Teradyne, a leading supplier of automated test equipment used across semiconductor and electronics markets; ATI, a producer of high performance materials and components for aerospace and defense applications; CACI, a provider of information technology and professional services for government clients; and Freeport-McMoRan, Inc., one of the world's largest publicly traded producers of copper and other critical minerals, were top contributors during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, financials and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the information technology, financials and energy sectors detracted from the Fund's relative performance.

**Individual holdings \|** Positions in Kemper, a provider of insurance products across property, casualty, and life markets; SanDisk, a global manufacturer of flash memory storage solutions; Western Digital, a leading developer of hard disk drives and data storage technologies; Global Payments, a provider of payment technology and software solutions to merchants worldwide; and Voya Financial, a diversified financial services company specializing in retirement, investment, and insurance products, were top detractors during the period.

Columbia Select Mid Cap Value Fund \| Class C **\|** ASR197_04_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g70s27.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Select Mid Cap Value Fund Class C (including sales charges) ($29943)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell Midcap<sup>®</sup> Value Index ($29181)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10861 | $10704 | $10923 |
| **04/16** | $11033 | $10770 | $11158 |
| **05/16** | $11230 | $10963 | $11340 |
| **06/16** | $11206 | $10986 | $11444 |
| **07/16** | $11517 | $11422 | $11929 |
| **08/16** | $11542 | $11451 | $11903 |
| **09/16** | $11558 | $11469 | $11953 |
| **10/16** | $11248 | $11221 | $11663 |
| **11/16** | $11928 | $11723 | $12393 |
| **12/16** | $12188 | $11952 | $12613 |
| **01/17** | $12338 | $12176 | $12825 |
| **02/17** | $12648 | $12629 | $13184 |
| **03/17** | $12595 | $12638 | $13088 |
| **04/17** | $12613 | $12772 | $13112 |
| **05/17** | $12675 | $12903 | $13072 |
| **06/17** | $12793 | $13019 | $13266 |
| **07/17** | $12848 | $13264 | $13442 |
| **08/17** | $12591 | $13290 | $13191 |
| **09/17** | $13003 | $13614 | $13551 |
| **10/17** | $13187 | $13911 | $13660 |
| **11/17** | $13581 | $14334 | $14122 |
| **12/17** | $13713 | $14477 | $14296 |
| **01/18** | $13973 | $15240 | $14625 |
| **02/18** | $13292 | $14678 | $13904 |
| **03/18** | $13303 | $14384 | $13938 |
| **04/18** | $13367 | $14438 | $14008 |
| **05/18** | $13497 | $14846 | $14160 |
| **06/18** | $13526 | $14943 | $14274 |
| **07/18** | $13894 | $15439 | $14662 |
| **08/18** | $13998 | $15981 | $14862 |
| **09/18** | $13917 | $16008 | $14744 |
| **10/18** | $12846 | $14829 | $13682 |
| **11/18** | $13042 | $15126 | $14010 |
| **12/18** | $11781 | $13718 | $12539 |
| **01/19** | $13088 | $14896 | $13830 |
| **02/19** | $13661 | $15419 | $14270 |
| **03/19** | $13665 | $15645 | $14342 |
| **04/19** | $14297 | $16269 | $14814 |
| **05/19** | $13269 | $15216 | $13863 |
| **06/19** | $14165 | $16285 | $14799 |
| **07/19** | $14372 | $16527 | $14922 |
| **08/19** | $13929 | $16190 | $14396 |
| **09/19** | $14421 | $16475 | $14980 |
| **10/19** | $14303 | $16829 | $15061 |
| **11/19** | $14730 | $17469 | $15462 |
| **12/19** | $15336 | $17973 | $15933 |
| **01/20** | $14883 | $17954 | $15623 |
| **02/20** | $13236 | $16484 | $14076 |
| **03/20** | $10301 | $14217 | $10881 |
| **04/20** | $11662 | $16100 | $12334 |
| **05/20** | $12101 | $16961 | $12906 |
| **06/20** | $12201 | $17349 | $13051 |
| **07/20** | $12890 | $18334 | $13668 |
| **08/20** | $13454 | $19662 | $14209 |
| **09/20** | $13266 | $18946 | $13887 |
| **10/20** | $13423 | $18537 | $14016 |
| **11/20** | $15600 | $20792 | $15984 |
| **12/20** | $16242 | $21728 | $16724 |
| **01/21** | $16007 | $21631 | $16685 |
| **02/21** | $17511 | $22307 | $17978 |
| **03/21** | $18388 | $23107 | $18906 |
| **04/21** | $19249 | $24298 | $19821 |
| **05/21** | $19609 | $24409 | $20212 |
| **06/21** | $19187 | $25010 | $19977 |
| **07/21** | $19139 | $25433 | $20100 |
| **08/21** | $19362 | $26159 | $20531 |
| **09/21** | $18806 | $24985 | $19775 |
| **10/21** | $19823 | $26675 | $20828 |
| **11/21** | $19839 | $26269 | $20195 |
| **12/21** | $21243 | $27303 | $21463 |
| **01/22** | $20228 | $25697 | $20547 |
| **02/22** | $20520 | $25049 | $20451 |
| **03/22** | $20675 | $25862 | $21072 |
| **04/22** | $19401 | $23541 | $19820 |
| **05/22** | $19952 | $23509 | $20201 |
| **06/22** | $17788 | $21543 | $17980 |
| **07/22** | $19358 | $23564 | $19527 |
| **08/22** | $18888 | $22684 | $18930 |
| **09/22** | $17139 | $20581 | $17094 |
| **10/22** | $18943 | $22269 | $18708 |
| **11/22** | $20061 | $23431 | $19891 |
| **12/22** | $19113 | $22059 | $18880 |
| **01/23** | $20564 | $23578 | $20406 |
| **02/23** | $19995 | $23027 | $19752 |
| **03/23** | $19186 | $23643 | $19130 |
| **04/23** | $19223 | $23895 | $19131 |
| **05/23** | $18249 | $23988 | $18283 |
| **06/23** | $19930 | $25626 | $19868 |
| **07/23** | $20559 | $26544 | $20733 |
| **08/23** | $19727 | $26032 | $20000 |
| **09/23** | $18580 | $24792 | $18982 |
| **10/23** | $17637 | $24135 | $18042 |
| **11/23** | $19523 | $26385 | $19743 |
| **12/23** | $20908 | $27785 | $21281 |
| **01/24** | $20778 | $28093 | $20900 |
| **02/24** | $21574 | $29613 | $21898 |
| **03/24** | $22785 | $30569 | $23031 |
| **04/24** | $21971 | $29224 | $21826 |
| **05/24** | $22600 | $30604 | $22610 |
| **06/24** | $22194 | $31552 | $22248 |
| **07/24** | $23602 | $32138 | $23592 |
| **08/24** | $23921 | $32838 | $24037 |
| **09/24** | $24246 | $33517 | $24490 |
| **10/24** | $23758 | $33271 | $24182 |
| **11/24** | $25147 | $35484 | $25962 |
| **12/24** | $23432 | $34400 | $24062 |
| **01/25** | $24025 | $35486 | $24908 |
| **02/25** | $23610 | $34806 | $24454 |
| **03/25** | $22765 | $32775 | $23554 |
| **04/25** | $22073 | $32556 | $22970 |
| **05/25** | $23161 | $34619 | $23972 |
| **06/25** | $24004 | $36378 | $24814 |
| **07/25** | $24510 | $37179 | $25259 |
| **08/25** | $25542 | $38039 | $26017 |
| **09/25** | $25826 | $39352 | $26347 |
| **10/25** | $25704 | $40196 | $26083 |
| **11/25** | $26392 | $40306 | $26705 |
| **12/25** | $26401 | $40298 | $26721 |
| **01/26** | $27631 | $40923 | $27866 |
| **02/26** | $29943 | $40728 | $29181 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class C (excluding sales charges) | 26.82 | 11.33 | 11.59 |
| Class C (including sales charges) | 25.82 | 11.33 | 11.59 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell Midcap<sup>®</sup> Value Index | 19.33 | 10.17 | 11.30 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2904196404 |
| **Total number of portfolio holdings** | 49 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $18121891 |
| **Portfolio turnover for the reporting period** | 15% |

---

Columbia Select Mid Cap Value Fund \| Class C **\|** ASR197_04_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 15.7% |
| Information Technology | 10.7% |
| Consumer Discretionary | 9.5% |
| Real Estate | 8.3% |
| Utilities | 8.1% |
| Health Care | 7.6% |
| Consumer Staples | 5.6% |
| Materials | 5.6% |
| Energy | 5.5% |
| Other | 4.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| Corning, Inc. | 3.5% |
| Entergy Corp. | 3.3% |
| AMETEK, Inc. | 2.9% |
| ITT, Inc. | 2.9% |
| Ameren Corp. | 2.9% |
| Marathon Petroleum Corp. | 2.9% |
| Southwest Airlines Co. | 2.7% |
| Welltower, Inc. | 2.7% |
| Devon Energy Corp. | 2.6% |
| Quest Diagnostics, Inc. | 2.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.8% |

---

## 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.

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](g250382g50k50.jpg)

Columbia Select Mid Cap Value Fund \| Class C **\|** ASR197_04_(04/26) \|

# Columbia Select Mid Cap Value Fund
Class R \| CMVRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Select Mid Cap Value Fund (the Fund) for the period of March 1, 2025 to February 28, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class R | $157 | 1.38% |

---

## Management's Discussion of Fund Performance
The performance of Class R shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the industrials, information technology and real estate sectors contributed to the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the consumer staples, materials and industrials sectors lifted the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Corning, a manufacturer of specialty glass, ceramics, and optical materials; Teradyne, a leading supplier of automated test equipment used across semiconductor and electronics markets; ATI, a producer of high performance materials and components for aerospace and defense applications; CACI, a provider of information technology and professional services for government clients; and Freeport-McMoRan, Inc., one of the world's largest publicly traded producers of copper and other critical minerals, were top contributors during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, financials and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the information technology, financials and energy sectors detracted from the Fund's relative performance.

**Individual holdings \|** Positions in Kemper, a provider of insurance products across property, casualty, and life markets; SanDisk, a global manufacturer of flash memory storage solutions; Western Digital, a leading developer of hard disk drives and data storage technologies; Global Payments, a provider of payment technology and software solutions to merchants worldwide; and Voya Financial, a diversified financial services company specializing in retirement, investment, and insurance products, were top detractors during the period.

Columbia Select Mid Cap Value Fund \| Class R **\|** ASR197_12_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g75e50.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Select Mid Cap Value Fund Class R ($31469)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell Midcap<sup>®</sup> Value Index ($29181)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10869 | $10704 | $10923 |
| **04/16** | $11048 | $10770 | $11158 |
| **05/16** | $11250 | $10963 | $11340 |
| **06/16** | $11228 | $10986 | $11444 |
| **07/16** | $11547 | $11422 | $11929 |
| **08/16** | $11579 | $11451 | $11903 |
| **09/16** | $11596 | $11469 | $11953 |
| **10/16** | $11286 | $11221 | $11663 |
| **11/16** | $11979 | $11723 | $12393 |
| **12/16** | $12249 | $11952 | $12613 |
| **01/17** | $12400 | $12176 | $12825 |
| **02/17** | $12710 | $12629 | $13184 |
| **03/17** | $12667 | $12638 | $13088 |
| **04/17** | $12684 | $12772 | $13112 |
| **05/17** | $12759 | $12903 | $13072 |
| **06/17** | $12884 | $13019 | $13266 |
| **07/17** | $12945 | $13264 | $13442 |
| **08/17** | $12693 | $13290 | $13191 |
| **09/17** | $13118 | $13614 | $13551 |
| **10/17** | $13300 | $13911 | $13660 |
| **11/17** | $13700 | $14334 | $14122 |
| **12/17** | $13843 | $14477 | $14296 |
| **01/18** | $14118 | $15240 | $14625 |
| **02/18** | $13437 | $14678 | $13904 |
| **03/18** | $13446 | $14384 | $13938 |
| **04/18** | $13517 | $14438 | $14008 |
| **05/18** | $13660 | $14846 | $14160 |
| **06/18** | $13686 | $14943 | $14274 |
| **07/18** | $14063 | $15439 | $14662 |
| **08/18** | $14182 | $15981 | $14862 |
| **09/18** | $14110 | $16008 | $14744 |
| **10/18** | $13030 | $14829 | $13682 |
| **11/18** | $13235 | $15126 | $14010 |
| **12/18** | $11942 | $13718 | $12539 |
| **01/19** | $13292 | $14896 | $13830 |
| **02/19** | $13885 | $15419 | $14270 |
| **03/19** | $13892 | $15645 | $14342 |
| **04/19** | $14541 | $16269 | $14814 |
| **05/19** | $13487 | $15216 | $13863 |
| **06/19** | $14410 | $16285 | $14799 |
| **07/19** | $14614 | $16527 | $14922 |
| **08/19** | $14180 | $16190 | $14396 |
| **09/19** | $14691 | $16475 | $14980 |
| **10/19** | $14569 | $16829 | $15061 |
| **11/19** | $15017 | $17469 | $15462 |
| **12/19** | $15650 | $17973 | $15933 |
| **01/20** | $15191 | $17954 | $15623 |
| **02/20** | $13507 | $16484 | $14076 |
| **03/20** | $10506 | $14217 | $10881 |
| **04/20** | $11901 | $16100 | $12334 |
| **05/20** | $12362 | $16961 | $12906 |
| **06/20** | $12468 | $17349 | $13051 |
| **07/20** | $13174 | $18334 | $13668 |
| **08/20** | $13751 | $19662 | $14209 |
| **09/20** | $13574 | $18946 | $13887 |
| **10/20** | $13747 | $18537 | $14016 |
| **11/20** | $15969 | $20792 | $15984 |
| **12/20** | $16639 | $21728 | $16724 |
| **01/21** | $16408 | $21631 | $16685 |
| **02/21** | $17952 | $22307 | $17978 |
| **03/21** | $18862 | $23107 | $18906 |
| **04/21** | $19757 | $24298 | $19821 |
| **05/21** | $20118 | $24409 | $20212 |
| **06/21** | $19700 | $25010 | $19977 |
| **07/21** | $19671 | $25433 | $20100 |
| **08/21** | $19905 | $26159 | $20531 |
| **09/21** | $19341 | $24985 | $19775 |
| **10/21** | $20394 | $26675 | $20828 |
| **11/21** | $20409 | $26269 | $20195 |
| **12/21** | $21884 | $27303 | $21463 |
| **01/22** | $20831 | $25697 | $20547 |
| **02/22** | $21145 | $25049 | $20451 |
| **03/22** | $21312 | $25862 | $21072 |
| **04/22** | $20007 | $23541 | $19820 |
| **05/22** | $20589 | $23509 | $20201 |
| **06/22** | $18364 | $21543 | $17980 |
| **07/22** | $19987 | $23564 | $19527 |
| **08/22** | $19512 | $22684 | $18930 |
| **09/22** | $17724 | $20581 | $17094 |
| **10/22** | $19578 | $22269 | $18708 |
| **11/22** | $20760 | $23431 | $19891 |
| **12/22** | $19768 | $22059 | $18880 |
| **01/23** | $21287 | $23578 | $20406 |
| **02/23** | $20703 | $23027 | $19752 |
| **03/23** | $19876 | $23643 | $19130 |
| **04/23** | $19926 | $23895 | $19131 |
| **05/23** | $18906 | $23988 | $18283 |
| **06/23** | $20661 | $25626 | $19868 |
| **07/23** | $21334 | $26544 | $20733 |
| **08/23** | $20476 | $26032 | $20000 |
| **09/23** | $19302 | $24792 | $18982 |
| **10/23** | $18325 | $24135 | $18042 |
| **11/23** | $20295 | $26385 | $19743 |
| **12/23** | $21751 | $27785 | $21281 |
| **01/24** | $21616 | $28093 | $20900 |
| **02/24** | $22443 | $29613 | $21898 |
| **03/24** | $23728 | $30569 | $23031 |
| **04/24** | $22900 | $29224 | $21826 |
| **05/24** | $23542 | $30604 | $22610 |
| **06/24** | $23133 | $31552 | $22248 |
| **07/24** | $24623 | $32138 | $23592 |
| **08/24** | $24966 | $32838 | $24037 |
| **09/24** | $25311 | $33517 | $24490 |
| **10/24** | $24814 | $33271 | $24182 |
| **11/24** | $26271 | $35484 | $25962 |
| **12/24** | $24486 | $34400 | $24062 |
| **01/25** | $25133 | $35486 | $24908 |
| **02/25** | $24702 | $34806 | $24454 |
| **03/25** | $23821 | $32775 | $23554 |
| **04/25** | $23101 | $32556 | $22970 |
| **05/25** | $24253 | $34619 | $23972 |
| **06/25** | $25151 | $36378 | $24814 |
| **07/25** | $25684 | $37179 | $25259 |
| **08/25** | $26786 | $38039 | $26017 |
| **09/25** | $27085 | $39352 | $26347 |
| **10/25** | $26975 | $40196 | $26083 |
| **11/25** | $27710 | $40306 | $26705 |
| **12/25** | $27734 | $40298 | $26721 |
| **01/26** | $29017 | $40923 | $27866 |
| **02/26** | $31469 | $40728 | $29181 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class R | 27.40 | 11.88 | 12.15 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell Midcap<sup>®</sup> Value Index | 19.33 | 10.17 | 11.30 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2904196404 |
| **Total number of portfolio holdings** | 49 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $18121891 |
| **Portfolio turnover for the reporting period** | 15% |

---

Columbia Select Mid Cap Value Fund \| Class R **\|** ASR197_12_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 15.7% |
| Information Technology | 10.7% |
| Consumer Discretionary | 9.5% |
| Real Estate | 8.3% |
| Utilities | 8.1% |
| Health Care | 7.6% |
| Consumer Staples | 5.6% |
| Materials | 5.6% |
| Energy | 5.5% |
| Other | 4.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| Corning, Inc. | 3.5% |
| Entergy Corp. | 3.3% |
| AMETEK, Inc. | 2.9% |
| ITT, Inc. | 2.9% |
| Ameren Corp. | 2.9% |
| Marathon Petroleum Corp. | 2.9% |
| Southwest Airlines Co. | 2.7% |
| Welltower, Inc. | 2.7% |
| Devon Energy Corp. | 2.6% |
| Quest Diagnostics, Inc. | 2.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.8% |

---

## 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.

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](g250382g50k50.jpg)

Columbia Select Mid Cap Value Fund \| Class R **\|** ASR197_12_(04/26) \|

# Columbia Select Mid Cap Value Fund
Class S \| NAMBX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Select Mid Cap Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $100 | 0.88% |

---

## Management's Discussion of Fund Performance
The performance of Class S shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the industrials, information technology and real estate sectors contributed to the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the consumer staples, materials and industrials sectors lifted the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Corning, a manufacturer of specialty glass, ceramics, and optical materials; Teradyne, a leading supplier of automated test equipment used across semiconductor and electronics markets; ATI, a producer of high performance materials and components for aerospace and defense applications; CACI, a provider of information technology and professional services for government clients; and Freeport-McMoRan, Inc., one of the world's largest publicly traded producers of copper and other critical minerals, were top contributors during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, financials and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the information technology, financials and energy sectors detracted from the Fund's relative performance.

**Individual holdings \|** Positions in Kemper, a provider of insurance products across property, casualty, and life markets; SanDisk, a global manufacturer of flash memory storage solutions; Western Digital, a leading developer of hard disk drives and data storage technologies; Global Payments, a provider of payment technology and software solutions to merchants worldwide; and Voya Financial, a diversified financial services company specializing in retirement, investment, and insurance products, were top detractors during the period.

Columbia Select Mid Cap Value Fund \| Class S **\|** ASR197_16_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g36k38.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Select Mid Cap Value Fund Class S ($32370)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell Midcap<sup>®</sup> Value Index ($29181)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10872 | $10704 | $10923 |
| **04/16** | $11051 | $10770 | $11158 |
| **05/16** | $11253 | $10963 | $11340 |
| **06/16** | $11238 | $10986 | $11444 |
| **07/16** | $11556 | $11422 | $11929 |
| **08/16** | $11596 | $11451 | $11903 |
| **09/16** | $11613 | $11469 | $11953 |
| **10/16** | $11302 | $11221 | $11663 |
| **11/16** | $11995 | $11723 | $12393 |
| **12/16** | $12271 | $11952 | $12613 |
| **01/17** | $12431 | $12176 | $12825 |
| **02/17** | $12741 | $12629 | $13184 |
| **03/17** | $12697 | $12638 | $13088 |
| **04/17** | $12722 | $12772 | $13112 |
| **05/17** | $12798 | $12903 | $13072 |
| **06/17** | $12922 | $13019 | $13266 |
| **07/17** | $12991 | $13264 | $13442 |
| **08/17** | $12739 | $13290 | $13191 |
| **09/17** | $13164 | $13614 | $13551 |
| **10/17** | $13355 | $13911 | $13660 |
| **11/17** | $13764 | $14334 | $14122 |
| **12/17** | $13907 | $14477 | $14296 |
| **01/18** | $14182 | $15240 | $14625 |
| **02/18** | $13500 | $14678 | $13904 |
| **03/18** | $13508 | $14384 | $13938 |
| **04/18** | $13599 | $14438 | $14008 |
| **05/18** | $13732 | $14846 | $14160 |
| **06/18** | $13766 | $14943 | $14274 |
| **07/18** | $14155 | $15439 | $14662 |
| **08/18** | $14263 | $15981 | $14862 |
| **09/18** | $14200 | $16008 | $14744 |
| **10/18** | $13118 | $14829 | $13682 |
| **11/18** | $13323 | $15126 | $14010 |
| **12/18** | $12036 | $13718 | $12539 |
| **01/19** | $13388 | $14896 | $13830 |
| **02/19** | $13983 | $15419 | $14270 |
| **03/19** | $13998 | $15645 | $14342 |
| **04/19** | $14648 | $16269 | $14814 |
| **05/19** | $13591 | $15216 | $13863 |
| **06/19** | $14527 | $16285 | $14799 |
| **07/19** | $14744 | $16527 | $14922 |
| **08/19** | $14309 | $16190 | $14396 |
| **09/19** | $14817 | $16475 | $14980 |
| **10/19** | $14708 | $16829 | $15061 |
| **11/19** | $15158 | $17469 | $15462 |
| **12/19** | $15803 | $17973 | $15933 |
| **01/20** | $15342 | $17954 | $15623 |
| **02/20** | $13637 | $16484 | $14076 |
| **03/20** | $10605 | $14217 | $10881 |
| **04/20** | $12035 | $16100 | $12334 |
| **05/20** | $12498 | $16961 | $12906 |
| **06/20** | $12598 | $17349 | $13051 |
| **07/20** | $13308 | $18334 | $13668 |
| **08/20** | $13903 | $19662 | $14209 |
| **09/20** | $13734 | $18946 | $13887 |
| **10/20** | $13908 | $18537 | $14016 |
| **11/20** | $16158 | $20792 | $15984 |
| **12/20** | $16827 | $21728 | $16724 |
| **01/21** | $16609 | $21631 | $16685 |
| **02/21** | $18164 | $22307 | $17978 |
| **03/21** | $19092 | $23107 | $18906 |
| **04/21** | $20008 | $24298 | $19821 |
| **05/21** | $20386 | $24409 | $20212 |
| **06/21** | $19961 | $25010 | $19977 |
| **07/21** | $19932 | $25433 | $20100 |
| **08/21** | $20183 | $26159 | $20531 |
| **09/21** | $19612 | $24985 | $19775 |
| **10/21** | $20674 | $26675 | $20828 |
| **11/21** | $20704 | $26269 | $20195 |
| **12/21** | $22205 | $27303 | $21463 |
| **01/22** | $21143 | $25697 | $20547 |
| **02/22** | $21460 | $25049 | $20451 |
| **03/22** | $21642 | $25862 | $21072 |
| **04/22** | $20325 | $23541 | $19820 |
| **05/22** | $20912 | $23509 | $20201 |
| **06/22** | $18648 | $21543 | $17980 |
| **07/22** | $20304 | $23564 | $19527 |
| **08/22** | $19840 | $22684 | $18930 |
| **09/22** | $18012 | $20581 | $17094 |
| **10/22** | $19920 | $22269 | $18708 |
| **11/22** | $21114 | $23431 | $19891 |
| **12/22** | $20107 | $22059 | $18880 |
| **01/23** | $21660 | $23578 | $20406 |
| **02/23** | $21052 | $23027 | $19752 |
| **03/23** | $20230 | $23643 | $19130 |
| **04/23** | $20280 | $23895 | $19131 |
| **05/23** | $19266 | $23988 | $18283 |
| **06/23** | $21054 | $25626 | $19868 |
| **07/23** | $21718 | $26544 | $20733 |
| **08/23** | $20849 | $26032 | $20000 |
| **09/23** | $19674 | $24792 | $18982 |
| **10/23** | $18684 | $24135 | $18042 |
| **11/23** | $20680 | $26385 | $19743 |
| **12/23** | $22168 | $27785 | $21281 |
| **01/24** | $22049 | $28093 | $20900 |
| **02/24** | $22904 | $29613 | $21898 |
| **03/24** | $24204 | $30569 | $23031 |
| **04/24** | $23364 | $29224 | $21826 |
| **05/24** | $24033 | $30604 | $22610 |
| **06/24** | $23633 | $31552 | $22248 |
| **07/24** | $25145 | $32138 | $23592 |
| **08/24** | $25493 | $32838 | $24037 |
| **09/24** | $25859 | $33517 | $24490 |
| **10/24** | $25355 | $33271 | $24182 |
| **11/24** | $26864 | $35484 | $25962 |
| **12/24** | $25035 | $34400 | $24062 |
| **01/25** | $25708 | $35486 | $24908 |
| **02/25** | $25272 | $34806 | $24454 |
| **03/25** | $24392 | $32775 | $23554 |
| **04/25** | $23663 | $32556 | $22970 |
| **05/25** | $24866 | $34619 | $23972 |
| **06/25** | $25789 | $36378 | $24814 |
| **07/25** | $26348 | $37179 | $25259 |
| **08/25** | $27485 | $38039 | $26017 |
| **09/25** | $27803 | $39352 | $26347 |
| **10/25** | $27710 | $40196 | $26083 |
| **11/25** | $28475 | $40306 | $26705 |
| **12/25** | $28516 | $40298 | $26721 |
| **01/26** | $29840 | $40923 | $27866 |
| **02/26** | $32370 | $40728 | $29181 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class S<sup>Footnote Reference(a)</sup> | 28.09 | 12.25 | 12.46 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell Midcap<sup>®</sup> Value Index | 19.33 | 10.17 | 11.30 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to October 2, 2024 (including Since Fund Inception returns, if shown) include the returns of Class A. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2904196404 |
| **Total number of portfolio holdings** | 49 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $18121891 |
| **Portfolio turnover for the reporting period** | 15% |

---

Columbia Select Mid Cap Value Fund \| Class S **\|** ASR197_16_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 15.7% |
| Information Technology | 10.7% |
| Consumer Discretionary | 9.5% |
| Real Estate | 8.3% |
| Utilities | 8.1% |
| Health Care | 7.6% |
| Consumer Staples | 5.6% |
| Materials | 5.6% |
| Energy | 5.5% |
| Other | 4.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| Corning, Inc. | 3.5% |
| Entergy Corp. | 3.3% |
| AMETEK, Inc. | 2.9% |
| ITT, Inc. | 2.9% |
| Ameren Corp. | 2.9% |
| Marathon Petroleum Corp. | 2.9% |
| Southwest Airlines Co. | 2.7% |
| Welltower, Inc. | 2.7% |
| Devon Energy Corp. | 2.6% |
| Quest Diagnostics, Inc. | 2.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.8% |

---

## 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.

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](g250382g50k50.jpg)

Columbia Select Mid Cap Value Fund \| Class S **\|** ASR197_16_(04/26) \|

# Columbia Select Mid Cap Value Fund
Institutional 2 Class \| CVERX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Select Mid Cap Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $92 | 0.81% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the industrials, information technology and real estate sectors contributed to the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the consumer staples, materials and industrials sectors lifted the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Corning, a manufacturer of specialty glass, ceramics, and optical materials; Teradyne, a leading supplier of automated test equipment used across semiconductor and electronics markets; ATI, a producer of high performance materials and components for aerospace and defense applications; CACI, a provider of information technology and professional services for government clients; and Freeport-McMoRan, Inc., one of the world's largest publicly traded producers of copper and other critical minerals, were top contributors during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, financials and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the information technology, financials and energy sectors detracted from the Fund's relative performance.

**Individual holdings \|** Positions in Kemper, a provider of insurance products across property, casualty, and life markets; SanDisk, a global manufacturer of flash memory storage solutions; Western Digital, a leading developer of hard disk drives and data storage technologies; Global Payments, a provider of payment technology and software solutions to merchants worldwide; and Voya Financial, a diversified financial services company specializing in retirement, investment, and insurance products, were top detractors during the period.

Columbia Select Mid Cap Value Fund \| Institutional 2 Class **\|** ASR197_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g22d11.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Select Mid Cap Value Fund Institutional 2 Class ($33414)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell Midcap<sup>®</sup> Value Index ($29181)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10869 | $10704 | $10923 |
| **04/16** | $11052 | $10770 | $11158 |
| **05/16** | $11265 | $10963 | $11340 |
| **06/16** | $11245 | $10986 | $11444 |
| **07/16** | $11572 | $11422 | $11929 |
| **08/16** | $11611 | $11451 | $11903 |
| **09/16** | $11638 | $11469 | $11953 |
| **10/16** | $11334 | $11221 | $11663 |
| **11/16** | $12028 | $11723 | $12393 |
| **12/16** | $12310 | $11952 | $12613 |
| **01/17** | $12466 | $12176 | $12825 |
| **02/17** | $12786 | $12629 | $13184 |
| **03/17** | $12746 | $12638 | $13088 |
| **04/17** | $12779 | $12772 | $13112 |
| **05/17** | $12861 | $12903 | $13072 |
| **06/17** | $12986 | $13019 | $13266 |
| **07/17** | $13054 | $13264 | $13442 |
| **08/17** | $12807 | $13290 | $13191 |
| **09/17** | $13244 | $13614 | $13551 |
| **10/17** | $13440 | $13911 | $13660 |
| **11/17** | $13849 | $14334 | $14122 |
| **12/17** | $13993 | $14477 | $14296 |
| **01/18** | $14282 | $15240 | $14625 |
| **02/18** | $13595 | $14678 | $13904 |
| **03/18** | $13614 | $14384 | $13938 |
| **04/18** | $13704 | $14438 | $14008 |
| **05/18** | $13843 | $14846 | $14160 |
| **06/18** | $13889 | $14943 | $14274 |
| **07/18** | $14280 | $15439 | $14662 |
| **08/18** | $14396 | $15981 | $14862 |
| **09/18** | $14336 | $16008 | $14744 |
| **10/18** | $13245 | $14829 | $13682 |
| **11/18** | $13457 | $15126 | $14010 |
| **12/18** | $12154 | $13718 | $12539 |
| **01/19** | $13533 | $14896 | $13830 |
| **02/19** | $14138 | $15419 | $14270 |
| **03/19** | $14151 | $15645 | $14342 |
| **04/19** | $14823 | $16269 | $14814 |
| **05/19** | $13756 | $15216 | $13863 |
| **06/19** | $14705 | $16285 | $14799 |
| **07/19** | $14930 | $16527 | $14922 |
| **08/19** | $14493 | $16190 | $14396 |
| **09/19** | $15014 | $16475 | $14980 |
| **10/19** | $14908 | $16829 | $15061 |
| **11/19** | $15373 | $17469 | $15462 |
| **12/19** | $16014 | $17973 | $15933 |
| **01/20** | $15552 | $17954 | $15623 |
| **02/20** | $13837 | $16484 | $14076 |
| **03/20** | $10776 | $14217 | $10881 |
| **04/20** | $12212 | $16100 | $12334 |
| **05/20** | $12691 | $16961 | $12906 |
| **06/20** | $12798 | $17349 | $13051 |
| **07/20** | $13533 | $18334 | $13668 |
| **08/20** | $14140 | $19662 | $14209 |
| **09/20** | $13959 | $18946 | $13887 |
| **10/20** | $14143 | $18537 | $14016 |
| **11/20** | $16437 | $20792 | $15984 |
| **12/20** | $17132 | $21728 | $16724 |
| **01/21** | $16905 | $21631 | $16685 |
| **02/21** | $18508 | $22307 | $17978 |
| **03/21** | $19456 | $23107 | $18906 |
| **04/21** | $20394 | $24298 | $19821 |
| **05/21** | $20777 | $24409 | $20212 |
| **06/21** | $20351 | $25010 | $19977 |
| **07/21** | $20323 | $25433 | $20100 |
| **08/21** | $20582 | $26159 | $20531 |
| **09/21** | $20013 | $24985 | $19775 |
| **10/21** | $21109 | $26675 | $20828 |
| **11/21** | $21138 | $26269 | $20195 |
| **12/21** | $22668 | $27303 | $21463 |
| **01/22** | $21601 | $25697 | $20547 |
| **02/22** | $21926 | $25049 | $20451 |
| **03/22** | $22121 | $25862 | $21072 |
| **04/22** | $20773 | $23541 | $19820 |
| **05/22** | $21393 | $23509 | $20201 |
| **06/22** | $19076 | $21543 | $17980 |
| **07/22** | $20789 | $23564 | $19527 |
| **08/22** | $20304 | $22684 | $18930 |
| **09/22** | $18440 | $20581 | $17094 |
| **10/22** | $20399 | $22269 | $18708 |
| **11/22** | $21630 | $23431 | $19891 |
| **12/22** | $20615 | $22059 | $18880 |
| **01/23** | $22197 | $23578 | $20406 |
| **02/23** | $21604 | $23027 | $19752 |
| **03/23** | $20753 | $23643 | $19130 |
| **04/23** | $20819 | $23895 | $19131 |
| **05/23** | $19762 | $23988 | $18283 |
| **06/23** | $21609 | $25626 | $19868 |
| **07/23** | $22308 | $26544 | $20733 |
| **08/23** | $21426 | $26032 | $20000 |
| **09/23** | $20212 | $24792 | $18982 |
| **10/23** | $19210 | $24135 | $18042 |
| **11/23** | $21263 | $26385 | $19743 |
| **12/23** | $22803 | $27785 | $21281 |
| **01/24** | $22669 | $28093 | $20900 |
| **02/24** | $23556 | $29613 | $21898 |
| **03/24** | $24915 | $30569 | $23031 |
| **04/24** | $24059 | $29224 | $21826 |
| **05/24** | $24747 | $30604 | $22610 |
| **06/24** | $24342 | $31552 | $22248 |
| **07/24** | $25908 | $32138 | $23592 |
| **08/24** | $26283 | $32838 | $24037 |
| **09/24** | $26662 | $33517 | $24490 |
| **10/24** | $26150 | $33271 | $24182 |
| **11/24** | $27703 | $35484 | $25962 |
| **12/24** | $25825 | $34400 | $24062 |
| **01/25** | $26521 | $35486 | $24908 |
| **02/25** | $26075 | $34806 | $24454 |
| **03/25** | $25164 | $32775 | $23554 |
| **04/25** | $24411 | $32556 | $22970 |
| **05/25** | $25647 | $34619 | $23972 |
| **06/25** | $26613 | $36378 | $24814 |
| **07/25** | $27180 | $37179 | $25259 |
| **08/25** | $28350 | $38039 | $26017 |
| **09/25** | $28704 | $39352 | $26347 |
| **10/25** | $28594 | $40196 | $26083 |
| **11/25** | $29382 | $40306 | $26705 |
| **12/25** | $29428 | $40298 | $26721 |
| **01/26** | $30802 | $40923 | $27866 |
| **02/26** | $33414 | $40728 | $29181 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 28.15 | 12.54 | 12.82 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell Midcap<sup>®</sup> Value Index | 19.33 | 10.17 | 11.30 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2904196404 |
| **Total number of portfolio holdings** | 49 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $18121891 |
| **Portfolio turnover for the reporting period** | 15% |

---

Columbia Select Mid Cap Value Fund \| Institutional 2 Class **\|** ASR197_15_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 15.7% |
| Information Technology | 10.7% |
| Consumer Discretionary | 9.5% |
| Real Estate | 8.3% |
| Utilities | 8.1% |
| Health Care | 7.6% |
| Consumer Staples | 5.6% |
| Materials | 5.6% |
| Energy | 5.5% |
| Other | 4.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| Corning, Inc. | 3.5% |
| Entergy Corp. | 3.3% |
| AMETEK, Inc. | 2.9% |
| ITT, Inc. | 2.9% |
| Ameren Corp. | 2.9% |
| Marathon Petroleum Corp. | 2.9% |
| Southwest Airlines Co. | 2.7% |
| Welltower, Inc. | 2.7% |
| Devon Energy Corp. | 2.6% |
| Quest Diagnostics, Inc. | 2.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.8% |

---

## 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.

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](g250382g50k50.jpg)

Columbia Select Mid Cap Value Fund \| Institutional 2 Class **\|** ASR197_15_(04/26) \|

# Columbia Select Mid Cap Value Fund
Institutional 3 Class \| CMVYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Select Mid Cap Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $87 | 0.76% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the industrials, information technology and real estate sectors contributed to the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the consumer staples, materials and industrials sectors lifted the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Corning, a manufacturer of specialty glass, ceramics, and optical materials; Teradyne, a leading supplier of automated test equipment used across semiconductor and electronics markets; ATI, a producer of high performance materials and components for aerospace and defense applications; CACI, a provider of information technology and professional services for government clients; and Freeport-McMoRan, Inc., one of the world's largest publicly traded producers of copper and other critical minerals, were top contributors during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, financials and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the information technology, financials and energy sectors detracted from the Fund's relative performance.

**Individual holdings \|** Positions in Kemper, a provider of insurance products across property, casualty, and life markets; SanDisk, a global manufacturer of flash memory storage solutions; Western Digital, a leading developer of hard disk drives and data storage technologies; Global Payments, a provider of payment technology and software solutions to merchants worldwide; and Voya Financial, a diversified financial services company specializing in retirement, investment, and insurance products, were top detractors during the period.

Columbia Select Mid Cap Value Fund \| Institutional 3 Class **\|** ASR197_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g38k10.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Select Mid Cap Value Fund Institutional 3 Class ($33560)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell Midcap<sup>®</sup> Value Index ($29181)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10867 | $10704 | $10923 |
| **04/16** | $11054 | $10770 | $11158 |
| **05/16** | $11263 | $10963 | $11340 |
| **06/16** | $11245 | $10986 | $11444 |
| **07/16** | $11571 | $11422 | $11929 |
| **08/16** | $11611 | $11451 | $11903 |
| **09/16** | $11633 | $11469 | $11953 |
| **10/16** | $11330 | $11221 | $11663 |
| **11/16** | $12032 | $11723 | $12393 |
| **12/16** | $12305 | $11952 | $12613 |
| **01/17** | $12465 | $12176 | $12825 |
| **02/17** | $12794 | $12629 | $13184 |
| **03/17** | $12754 | $12638 | $13088 |
| **04/17** | $12779 | $12772 | $13112 |
| **05/17** | $12863 | $12903 | $13072 |
| **06/17** | $12993 | $13019 | $13266 |
| **07/17** | $13063 | $13264 | $13442 |
| **08/17** | $12818 | $13290 | $13191 |
| **09/17** | $13250 | $13614 | $13551 |
| **10/17** | $13443 | $13911 | $13660 |
| **11/17** | $13855 | $14334 | $14122 |
| **12/17** | $14004 | $14477 | $14296 |
| **01/18** | $14291 | $15240 | $14625 |
| **02/18** | $13604 | $14678 | $13904 |
| **03/18** | $13625 | $14384 | $13938 |
| **04/18** | $13707 | $14438 | $14008 |
| **05/18** | $13851 | $14846 | $14160 |
| **06/18** | $13889 | $14943 | $14274 |
| **07/18** | $14282 | $15439 | $14662 |
| **08/18** | $14402 | $15981 | $14862 |
| **09/18** | $14341 | $16008 | $14744 |
| **10/18** | $13247 | $14829 | $13682 |
| **11/18** | $13466 | $15126 | $14010 |
| **12/18** | $12167 | $13718 | $12539 |
| **01/19** | $13535 | $14896 | $13830 |
| **02/19** | $14151 | $15419 | $14270 |
| **03/19** | $14166 | $15645 | $14342 |
| **04/19** | $14839 | $16269 | $14814 |
| **05/19** | $13768 | $15216 | $13863 |
| **06/19** | $14718 | $16285 | $14799 |
| **07/19** | $14952 | $16527 | $14922 |
| **08/19** | $14510 | $16190 | $14396 |
| **09/19** | $15027 | $16475 | $14980 |
| **10/19** | $14931 | $16829 | $15061 |
| **11/19** | $15388 | $17469 | $15462 |
| **12/19** | $16045 | $17973 | $15933 |
| **01/20** | $15576 | $17954 | $15623 |
| **02/20** | $13858 | $16484 | $14076 |
| **03/20** | $10779 | $14217 | $10881 |
| **04/20** | $12235 | $16100 | $12334 |
| **05/20** | $12706 | $16961 | $12906 |
| **06/20** | $12820 | $17349 | $13051 |
| **07/20** | $13558 | $18334 | $13668 |
| **08/20** | $14164 | $19662 | $14209 |
| **09/20** | $13976 | $18946 | $13887 |
| **10/20** | $14169 | $18537 | $14016 |
| **11/20** | $16464 | $20792 | $15984 |
| **12/20** | $17162 | $21728 | $16724 |
| **01/21** | $16940 | $21631 | $16685 |
| **02/21** | $18542 | $22307 | $17978 |
| **03/21** | $19491 | $23107 | $18906 |
| **04/21** | $20427 | $24298 | $19821 |
| **05/21** | $20814 | $24409 | $20212 |
| **06/21** | $20400 | $25010 | $19977 |
| **07/21** | $20370 | $25433 | $20100 |
| **08/21** | $20626 | $26159 | $20531 |
| **09/21** | $20048 | $24985 | $19775 |
| **10/21** | $21151 | $26675 | $20828 |
| **11/21** | $21196 | $26269 | $20195 |
| **12/21** | $22724 | $27303 | $21463 |
| **01/22** | $21636 | $25697 | $20547 |
| **02/22** | $21977 | $25049 | $20451 |
| **03/22** | $22168 | $25862 | $21072 |
| **04/22** | $20818 | $23541 | $19820 |
| **05/22** | $21436 | $23509 | $20201 |
| **06/22** | $19135 | $21543 | $17980 |
| **07/22** | $20836 | $23564 | $19527 |
| **08/22** | $20360 | $22684 | $18930 |
| **09/22** | $18484 | $20581 | $17094 |
| **10/22** | $20445 | $22269 | $18708 |
| **11/22** | $21690 | $23431 | $19891 |
| **12/22** | $20675 | $22059 | $18880 |
| **01/23** | $22256 | $23578 | $20406 |
| **02/23** | $21647 | $23027 | $19752 |
| **03/23** | $20805 | $23643 | $19130 |
| **04/23** | $20875 | $23895 | $19131 |
| **05/23** | $19829 | $23988 | $18283 |
| **06/23** | $21675 | $25626 | $19868 |
| **07/23** | $22378 | $26544 | $20733 |
| **08/23** | $21482 | $26032 | $20000 |
| **09/23** | $20273 | $24792 | $18982 |
| **10/23** | $19269 | $24135 | $18042 |
| **11/23** | $21330 | $26385 | $19743 |
| **12/23** | $22870 | $27785 | $21281 |
| **01/24** | $22746 | $28093 | $20900 |
| **02/24** | $23647 | $29613 | $21898 |
| **03/24** | $24997 | $30569 | $23031 |
| **04/24** | $24128 | $29224 | $21826 |
| **05/24** | $24837 | $30604 | $22610 |
| **06/24** | $24412 | $31552 | $22248 |
| **07/24** | $25995 | $32138 | $23592 |
| **08/24** | $26373 | $32838 | $24037 |
| **09/24** | $26759 | $33517 | $24490 |
| **10/24** | $26254 | $33271 | $24182 |
| **11/24** | $27806 | $35484 | $25962 |
| **12/24** | $25914 | $34400 | $24062 |
| **01/25** | $26614 | $35486 | $24908 |
| **02/25** | $26179 | $34806 | $24454 |
| **03/25** | $25254 | $32775 | $23554 |
| **04/25** | $24514 | $32556 | $22970 |
| **05/25** | $25748 | $34619 | $23972 |
| **06/25** | $26699 | $36378 | $24814 |
| **07/25** | $27281 | $37179 | $25259 |
| **08/25** | $28466 | $38039 | $26017 |
| **09/25** | $28806 | $39352 | $26347 |
| **10/25** | $28709 | $40196 | $26083 |
| **11/25** | $29507 | $40306 | $26705 |
| **12/25** | $29540 | $40298 | $26721 |
| **01/26** | $30941 | $40923 | $27866 |
| **02/26** | $33560 | $40728 | $29181 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class | 28.19 | 12.60 | 12.87 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell Midcap<sup>®</sup> Value Index | 19.33 | 10.17 | 11.30 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2904196404 |
| **Total number of portfolio holdings** | 49 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $18121891 |
| **Portfolio turnover for the reporting period** | 15% |

---

Columbia Select Mid Cap Value Fund \| Institutional 3 Class **\|** ASR197_17_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 15.7% |
| Information Technology | 10.7% |
| Consumer Discretionary | 9.5% |
| Real Estate | 8.3% |
| Utilities | 8.1% |
| Health Care | 7.6% |
| Consumer Staples | 5.6% |
| Materials | 5.6% |
| Energy | 5.5% |
| Other | 4.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| Corning, Inc. | 3.5% |
| Entergy Corp. | 3.3% |
| AMETEK, Inc. | 2.9% |
| ITT, Inc. | 2.9% |
| Ameren Corp. | 2.9% |
| Marathon Petroleum Corp. | 2.9% |
| Southwest Airlines Co. | 2.7% |
| Welltower, Inc. | 2.7% |
| Devon Energy Corp. | 2.6% |
| Quest Diagnostics, Inc. | 2.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.8% |

---

## 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.

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](g250382g50k50.jpg)

Columbia Select Mid Cap Value Fund \| Institutional 3 Class **\|** ASR197_17_(04/26) \|

# Columbia Select Mid Cap Value Fund
Institutional Class \| NAMAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Select Mid Cap Value Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $100 | 0.88% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the industrials, information technology and real estate sectors contributed to the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the consumer staples, materials and industrials sectors lifted the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in Corning, a manufacturer of specialty glass, ceramics, and optical materials; Teradyne, a leading supplier of automated test equipment used across semiconductor and electronics markets; ATI, a producer of high performance materials and components for aerospace and defense applications; CACI, a provider of information technology and professional services for government clients; and Freeport-McMoRan, Inc., one of the world's largest publicly traded producers of copper and other critical minerals, were top contributors during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, financials and utilities sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Allocations to the information technology, financials and energy sectors detracted from the Fund's relative performance.

**Individual holdings \|** Positions in Kemper, a provider of insurance products across property, casualty, and life markets; SanDisk, a global manufacturer of flash memory storage solutions; Western Digital, a leading developer of hard disk drives and data storage technologies; Global Payments, a provider of payment technology and software solutions to merchants worldwide; and Voya Financial, a diversified financial services company specializing in retirement, investment, and insurance products, were top detractors during the period.

Columbia Select Mid Cap Value Fund \| Institutional Class **\|** ASR197_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g37s90.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Select Mid Cap Value Fund Institutional Class ($33054)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell Midcap<sup>®</sup> Value Index ($29181)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10869 | $10704 | $10923 |
| **04/16** | $11047 | $10770 | $11158 |
| **05/16** | $11256 | $10963 | $11340 |
| **06/16** | $11240 | $10986 | $11444 |
| **07/16** | $11566 | $11422 | $11929 |
| **08/16** | $11606 | $11451 | $11903 |
| **09/16** | $11622 | $11469 | $11953 |
| **10/16** | $11320 | $11221 | $11663 |
| **11/16** | $12020 | $11723 | $12393 |
| **12/16** | $12296 | $11952 | $12613 |
| **01/17** | $12455 | $12176 | $12825 |
| **02/17** | $12774 | $12629 | $13184 |
| **03/17** | $12729 | $12638 | $13088 |
| **04/17** | $12754 | $12772 | $13112 |
| **05/17** | $12838 | $12903 | $13072 |
| **06/17** | $12961 | $13019 | $13266 |
| **07/17** | $13031 | $13264 | $13442 |
| **08/17** | $12787 | $13290 | $13191 |
| **09/17** | $13221 | $13614 | $13551 |
| **10/17** | $13412 | $13911 | $13660 |
| **11/17** | $13822 | $14334 | $14122 |
| **12/17** | $13965 | $14477 | $14296 |
| **01/18** | $14250 | $15240 | $14625 |
| **02/18** | $13567 | $14678 | $13904 |
| **03/18** | $13583 | $14384 | $13938 |
| **04/18** | $13665 | $14438 | $14008 |
| **05/18** | $13808 | $14846 | $14160 |
| **06/18** | $13841 | $14943 | $14274 |
| **07/18** | $14231 | $15439 | $14662 |
| **08/18** | $14350 | $15981 | $14862 |
| **09/18** | $14285 | $16008 | $14744 |
| **10/18** | $13198 | $14829 | $13682 |
| **11/18** | $13416 | $15126 | $14010 |
| **12/18** | $12121 | $13718 | $12539 |
| **01/19** | $13478 | $14896 | $13830 |
| **02/19** | $14089 | $15419 | $14270 |
| **03/19** | $14098 | $15645 | $14342 |
| **04/19** | $14765 | $16269 | $14814 |
| **05/19** | $13704 | $15216 | $13863 |
| **06/19** | $14639 | $16285 | $14799 |
| **07/19** | $14871 | $16527 | $14922 |
| **08/19** | $14433 | $16190 | $14396 |
| **09/19** | $14940 | $16475 | $14980 |
| **10/19** | $14844 | $16829 | $15061 |
| **11/19** | $15297 | $17469 | $15462 |
| **12/19** | $15941 | $17973 | $15933 |
| **01/20** | $15491 | $17954 | $15623 |
| **02/20** | $13776 | $16484 | $14076 |
| **03/20** | $10721 | $14217 | $10881 |
| **04/20** | $12148 | $16100 | $12334 |
| **05/20** | $12628 | $16961 | $12906 |
| **06/20** | $12736 | $17349 | $13051 |
| **07/20** | $13466 | $18334 | $13668 |
| **08/20** | $14065 | $19662 | $14209 |
| **09/20** | $13888 | $18946 | $13887 |
| **10/20** | $14064 | $18537 | $14016 |
| **11/20** | $16347 | $20792 | $15984 |
| **12/20** | $17031 | $21728 | $16724 |
| **01/21** | $16811 | $21631 | $16685 |
| **02/21** | $18394 | $22307 | $17978 |
| **03/21** | $19341 | $23107 | $18906 |
| **04/21** | $20265 | $24298 | $19821 |
| **05/21** | $20647 | $24409 | $20212 |
| **06/21** | $20231 | $25010 | $19977 |
| **07/21** | $20202 | $25433 | $20100 |
| **08/21** | $20455 | $26159 | $20531 |
| **09/21** | $19876 | $24985 | $19775 |
| **10/21** | $20965 | $26675 | $20828 |
| **11/21** | $20994 | $26269 | $20195 |
| **12/21** | $22525 | $27303 | $21463 |
| **01/22** | $21452 | $25697 | $20547 |
| **02/22** | $21772 | $25049 | $20451 |
| **03/22** | $21969 | $25862 | $21072 |
| **04/22** | $20621 | $23541 | $19820 |
| **05/22** | $21231 | $23509 | $20201 |
| **06/22** | $18938 | $21543 | $17980 |
| **07/22** | $20631 | $23564 | $19527 |
| **08/22** | $20162 | $22684 | $18930 |
| **09/22** | $18307 | $20581 | $17094 |
| **10/22** | $20239 | $22269 | $18708 |
| **11/22** | $21465 | $23431 | $19891 |
| **12/22** | $20457 | $22059 | $18880 |
| **01/23** | $22031 | $23578 | $20406 |
| **02/23** | $21432 | $23027 | $19752 |
| **03/23** | $20578 | $23643 | $19130 |
| **04/23** | $20647 | $23895 | $19131 |
| **05/23** | $19601 | $23988 | $18283 |
| **06/23** | $21426 | $25626 | $19868 |
| **07/23** | $22135 | $26544 | $20733 |
| **08/23** | $21254 | $26032 | $20000 |
| **09/23** | $20040 | $24792 | $18982 |
| **10/23** | $19035 | $24135 | $18042 |
| **11/23** | $21079 | $26385 | $19743 |
| **12/23** | $22602 | $27785 | $21281 |
| **01/24** | $22481 | $28093 | $20900 |
| **02/24** | $23349 | $29613 | $21898 |
| **03/24** | $24702 | $30569 | $23031 |
| **04/24** | $23831 | $29224 | $21826 |
| **05/24** | $24528 | $30604 | $22610 |
| **06/24** | $24120 | $31552 | $22248 |
| **07/24** | $25675 | $32138 | $23592 |
| **08/24** | $26028 | $32838 | $24037 |
| **09/24** | $26416 | $33517 | $24490 |
| **10/24** | $25902 | $33271 | $24182 |
| **11/24** | $27444 | $35484 | $25962 |
| **12/24** | $25577 | $34400 | $24062 |
| **01/25** | $26265 | $35486 | $24908 |
| **02/25** | $25819 | $34806 | $24454 |
| **03/25** | $24922 | $32775 | $23554 |
| **04/25** | $24177 | $32556 | $22970 |
| **05/25** | $25387 | $34619 | $23972 |
| **06/25** | $26349 | $36378 | $24814 |
| **07/25** | $26920 | $37179 | $25259 |
| **08/25** | $28082 | $38039 | $26017 |
| **09/25** | $28407 | $39352 | $26347 |
| **10/25** | $28311 | $40196 | $26083 |
| **11/25** | $29074 | $40306 | $26705 |
| **12/25** | $29116 | $40298 | $26721 |
| **01/26** | $30488 | $40923 | $27866 |
| **02/26** | $33054 | $40728 | $29181 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 28.02 | 12.44 | 12.70 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell Midcap<sup>®</sup> Value Index | 19.33 | 10.17 | 11.30 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2904196404 |
| **Total number of portfolio holdings** | 49 |
| **Management services fees (represents 0.73% of Fund average net assets)** | $18121891 |
| **Portfolio turnover for the reporting period** | 15% |

---

Columbia Select Mid Cap Value Fund \| Institutional Class **\|** ASR197_08_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 15.7% |
| Information Technology | 10.7% |
| Consumer Discretionary | 9.5% |
| Real Estate | 8.3% |
| Utilities | 8.1% |
| Health Care | 7.6% |
| Consumer Staples | 5.6% |
| Materials | 5.6% |
| Energy | 5.5% |
| Other | 4.3% |

---

### Top Holdings

---

| | |
|:---|:---|
| Corning, Inc. | 3.5% |
| Entergy Corp. | 3.3% |
| AMETEK, Inc. | 2.9% |
| ITT, Inc. | 2.9% |
| Ameren Corp. | 2.9% |
| Marathon Petroleum Corp. | 2.9% |
| Southwest Airlines Co. | 2.7% |
| Welltower, Inc. | 2.7% |
| Devon Energy Corp. | 2.6% |
| Quest Diagnostics, Inc. | 2.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Money Market Funds | 1.8% |

---

## 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.

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](g250382g50k50.jpg)

Columbia Select Mid Cap Value Fund \| Institutional Class **\|** ASR197_08_(04/26) \|

# Columbia Small Cap Index Fund
Class A \| NMSAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | 0.45% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The industrials, information technology and materials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Sandisk, a data storage and semiconductor hardware company; Kratos Defense & Security Solutions, a defense technology and aerospace company; Sterling Infrastructure, an engineering & construction infrastructure services company; TTM Technologies, an electronic components and advanced manufacturing company; and Mr. Cooper Group, a mortgage finance and servicing company, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors** \| The health care, communication services and consumer staples sectors were the weakest performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings** \| Fund positions in Inspire Medical Systems, a medical device company; Robert Half, a professional staffing and consulting services company; V.F. Corporation, a branded apparel and footwear company; FMC Corporation, an agricultural chemicals and crop science company; and Alaska Air, an airline holding company, were among the top absolute detractors from Fund performance during the period.

Columbia Small Cap Index Fund \| Class A **\|** ASR228_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g10d23.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Index Fund Class A ($27758)** | **Russell 3000<sup>®</sup> Index ($40728)** | **S&P SmallCap 600<sup>®</sup> Index ($29000)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10819 | $10704 | $10820 |
| **04/16** | $10940 | $10770 | $10947 |
| **05/16** | $11118 | $10963 | $11128 |
| **06/16** | $11181 | $10986 | $11196 |
| **07/16** | $11747 | $11422 | $11766 |
| **08/16** | $11902 | $11451 | $11925 |
| **09/16** | $11977 | $11469 | $12002 |
| **10/16** | $11438 | $11221 | $11465 |
| **11/16** | $12863 | $11723 | $12904 |
| **12/16** | $13293 | $11952 | $13338 |
| **01/17** | $13231 | $12176 | $13285 |
| **02/17** | $13440 | $12629 | $13497 |
| **03/17** | $13423 | $12638 | $13480 |
| **04/17** | $13541 | $12772 | $13602 |
| **05/17** | $13248 | $12903 | $13313 |
| **06/17** | $13641 | $13019 | $13711 |
| **07/17** | $13767 | $13264 | $13844 |
| **08/17** | $13412 | $13290 | $13489 |
| **09/17** | $14437 | $13614 | $14529 |
| **10/17** | $14568 | $13911 | $14666 |
| **11/17** | $15078 | $14334 | $15183 |
| **12/17** | $14996 | $14477 | $15104 |
| **01/18** | $15366 | $15240 | $15486 |
| **02/18** | $14765 | $14678 | $14886 |
| **03/18** | $15062 | $14384 | $15189 |
| **04/18** | $15208 | $14438 | $15346 |
| **05/18** | $16185 | $14846 | $16337 |
| **06/18** | $16359 | $14943 | $16522 |
| **07/18** | $16871 | $15439 | $17043 |
| **08/18** | $17678 | $15981 | $17867 |
| **09/18** | $17111 | $16008 | $17300 |
| **10/18** | $15311 | $14829 | $15487 |
| **11/18** | $15539 | $15126 | $15720 |
| **12/18** | $13653 | $13718 | $13823 |
| **01/19** | $15098 | $14896 | $15293 |
| **02/19** | $15754 | $15419 | $15959 |
| **03/19** | $15232 | $15645 | $15427 |
| **04/19** | $15814 | $16269 | $16025 |
| **05/19** | $14429 | $15216 | $14626 |
| **06/19** | $15494 | $16285 | $15715 |
| **07/19** | $15665 | $16527 | $15894 |
| **08/19** | $14953 | $16190 | $15177 |
| **09/19** | $15446 | $16475 | $15684 |
| **10/19** | $15741 | $16829 | $15989 |
| **11/19** | $16220 | $17469 | $16479 |
| **12/19** | $16697 | $17973 | $16972 |
| **01/20** | $16027 | $17954 | $16298 |
| **02/20** | $14481 | $16484 | $14732 |
| **03/20** | $11238 | $14217 | $11433 |
| **04/20** | $12664 | $16100 | $12885 |
| **05/20** | $13205 | $16961 | $13440 |
| **06/20** | $13704 | $17349 | $13942 |
| **07/20** | $14261 | $18334 | $14515 |
| **08/20** | $14825 | $19662 | $15094 |
| **09/20** | $14124 | $18946 | $14384 |
| **10/20** | $14478 | $18537 | $14755 |
| **11/20** | $17109 | $20792 | $17436 |
| **12/20** | $18520 | $21728 | $18887 |
| **01/21** | $19684 | $21631 | $20075 |
| **02/21** | $21164 | $22307 | $21611 |
| **03/21** | $21848 | $23107 | $22332 |
| **04/21** | $22290 | $24298 | $22787 |
| **05/21** | $22740 | $24409 | $23260 |
| **06/21** | $22811 | $25010 | $23338 |
| **07/21** | $22255 | $25433 | $22781 |
| **08/21** | $22698 | $26159 | $23240 |
| **09/21** | $22134 | $24985 | $22675 |
| **10/21** | $22886 | $26675 | $23452 |
| **11/21** | $22352 | $26269 | $22915 |
| **12/21** | $23349 | $27303 | $23953 |
| **01/22** | $21636 | $25697 | $22213 |
| **02/22** | $21930 | $25049 | $22523 |
| **03/22** | $22002 | $25862 | $22606 |
| **04/22** | $20273 | $23541 | $20841 |
| **05/22** | $20647 | $23509 | $21229 |
| **06/22** | $18873 | $21543 | $19415 |
| **07/22** | $20758 | $23564 | $21360 |
| **08/22** | $19845 | $22684 | $20423 |
| **09/22** | $17878 | $20581 | $18405 |
| **10/22** | $20083 | $22269 | $20681 |
| **11/22** | $20907 | $23431 | $21543 |
| **12/22** | $19492 | $22059 | $20097 |
| **01/23** | $21342 | $23578 | $22005 |
| **02/23** | $21069 | $23027 | $21734 |
| **03/23** | $19976 | $23643 | $20613 |
| **04/23** | $19412 | $23895 | $20040 |
| **05/23** | $19069 | $23988 | $19689 |
| **06/23** | $20628 | $25626 | $21309 |
| **07/23** | $21760 | $26544 | $22483 |
| **08/23** | $20844 | $26032 | $21553 |
| **09/23** | $19585 | $24792 | $20260 |
| **10/23** | $18453 | $24135 | $19098 |
| **11/23** | $19972 | $26385 | $20677 |
| **12/23** | $22523 | $27785 | $23323 |
| **01/24** | $21628 | $28093 | $22402 |
| **02/24** | $22337 | $29613 | $23147 |
| **03/24** | $23054 | $30569 | $23897 |
| **04/24** | $21749 | $29224 | $22556 |
| **05/24** | $22840 | $30604 | $23693 |
| **06/24** | $22317 | $31552 | $23154 |
| **07/24** | $24712 | $32138 | $25654 |
| **08/24** | $24353 | $32838 | $25284 |
| **09/24** | $24547 | $33517 | $25499 |
| **10/24** | $23888 | $33271 | $24827 |
| **11/24** | $26495 | $35484 | $27542 |
| **12/24** | $24377 | $34400 | $25351 |
| **01/25** | $25076 | $35486 | $26089 |
| **02/25** | $23635 | $34806 | $24599 |
| **03/25** | $22173 | $32775 | $23088 |
| **04/25** | $21237 | $32556 | $22121 |
| **05/25** | $22345 | $34619 | $23278 |
| **06/25** | $23249 | $36378 | $24219 |
| **07/25** | $23450 | $37179 | $24444 |
| **08/25** | $25098 | $38039 | $26171 |
| **09/25** | $25345 | $39352 | $26427 |
| **10/25** | $25121 | $40196 | $26195 |
| **11/25** | $25782 | $40306 | $26890 |
| **12/25** | $25751 | $40298 | $26876 |
| **01/26** | $27190 | $40923 | $28383 |
| **02/26** | $27758 | $40728 | $29000 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A | 17.44 | 5.57 | 10.75 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| S&P SmallCap 600<sup>®</sup> Index | 17.89 | 6.06 | 11.23 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2547107539 |
| **Total number of portfolio holdings** | 608 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $5098990 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Small Cap Index Fund \| Class A **\|** ASR228_01_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 17.3% |
| Consumer Discretionary | 13.8% |
| Information Technology | 13.1% |
| Health Care | 10.7% |
| Real Estate | 7.0% |
| Materials | 5.8% |
| Energy | 5.5% |
| Communication Services | 3.0% |
| Consumer Staples | 2.5% |
| Other | 2.2% |

---

### Top Holdings

---

| | |
|:---|:---|
| Solstice Advanced Materials, Inc. | 0.8% |
| iShares Core S&P Small-Cap ETF | 0.7% |
| Moog, Inc., Class A | 0.6% |
| InterDigital, Inc. | 0.6% |
| CareTrust REIT, Inc. | 0.6% |
| SiTime Corp. | 0.5% |
| Eastman Chemical Co. | 0.5% |
| LKQ Corp. | 0.5% |
| Sanmina Corp. | 0.5% |
| Primoris Services Corp. | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Other | 1.6% |

---

## 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](g250382g50k50.jpg)

Columbia Small Cap Index Fund \| Class A **\|** ASR228_01_(04/26) \|

# Columbia Small Cap Index Fund
Institutional 2 Class \| CXXRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The industrials, information technology and materials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Sandisk, a data storage and semiconductor hardware company; Kratos Defense & Security Solutions, a defense technology and aerospace company; Sterling Infrastructure, an engineering & construction infrastructure services company; TTM Technologies, an electronic components and advanced manufacturing company; and Mr. Cooper Group, a mortgage finance and servicing company, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors** \| The health care, communication services and consumer staples sectors were the weakest performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings** \| Fund positions in Inspire Medical Systems, a medical device company; Robert Half, a professional staffing and consulting services company; V.F. Corporation, a branded apparel and footwear company; FMC Corporation, an agricultural chemicals and crop science company; and Alaska Air, an airline holding company, were among the top absolute detractors from Fund performance during the period.

Columbia Small Cap Index Fund \| Institutional 2 Class **\|** ASR228_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g13v48.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Index Fund Institutional 2 Class ($28460)** | **Russell 3000<sup>®</sup> Index ($40728)** | **S&P SmallCap 600<sup>®</sup> Index ($29000)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10816 | $10704 | $10820 |
| **04/16** | $10944 | $10770 | $10947 |
| **05/16** | $11124 | $10963 | $11128 |
| **06/16** | $11189 | $10986 | $11196 |
| **07/16** | $11758 | $11422 | $11766 |
| **08/16** | $11920 | $11451 | $11925 |
| **09/16** | $11993 | $11469 | $12002 |
| **10/16** | $11455 | $11221 | $11465 |
| **11/16** | $12885 | $11723 | $12904 |
| **12/16** | $13319 | $11952 | $13338 |
| **01/17** | $13263 | $12176 | $13285 |
| **02/17** | $13473 | $12629 | $13497 |
| **03/17** | $13462 | $12638 | $13480 |
| **04/17** | $13583 | $12772 | $13602 |
| **05/17** | $13291 | $12903 | $13313 |
| **06/17** | $13686 | $13019 | $13711 |
| **07/17** | $13815 | $13264 | $13844 |
| **08/17** | $13463 | $13290 | $13489 |
| **09/17** | $14498 | $13614 | $14529 |
| **10/17** | $14632 | $13911 | $14666 |
| **11/17** | $15142 | $14334 | $15183 |
| **12/17** | $15062 | $14477 | $15104 |
| **01/18** | $15442 | $15240 | $15486 |
| **02/18** | $14837 | $14678 | $14886 |
| **03/18** | $15139 | $14384 | $15189 |
| **04/18** | $15294 | $14438 | $15346 |
| **05/18** | $16273 | $14846 | $16337 |
| **06/18** | $16456 | $14943 | $16522 |
| **07/18** | $16968 | $15439 | $17043 |
| **08/18** | $17788 | $15981 | $17867 |
| **09/18** | $17222 | $16008 | $17300 |
| **10/18** | $15413 | $14829 | $15487 |
| **11/18** | $15642 | $15126 | $15720 |
| **12/18** | $13749 | $13718 | $13823 |
| **01/19** | $15209 | $14896 | $15293 |
| **02/19** | $15876 | $15419 | $15959 |
| **03/19** | $15346 | $15645 | $15427 |
| **04/19** | $15935 | $16269 | $16025 |
| **05/19** | $14547 | $15216 | $14626 |
| **06/19** | $15628 | $16285 | $15715 |
| **07/19** | $15803 | $16527 | $15894 |
| **08/19** | $15086 | $16190 | $15177 |
| **09/19** | $15582 | $16475 | $15684 |
| **10/19** | $15883 | $16829 | $15989 |
| **11/19** | $16372 | $17469 | $16479 |
| **12/19** | $16858 | $17973 | $16972 |
| **01/20** | $16188 | $17954 | $16298 |
| **02/20** | $14627 | $16484 | $14732 |
| **03/20** | $11357 | $14217 | $11433 |
| **04/20** | $12793 | $16100 | $12885 |
| **05/20** | $13344 | $16961 | $13440 |
| **06/20** | $13853 | $17349 | $13942 |
| **07/20** | $14418 | $18334 | $14515 |
| **08/20** | $14991 | $19662 | $15094 |
| **09/20** | $14284 | $18946 | $14384 |
| **10/20** | $14652 | $18537 | $14755 |
| **11/20** | $17311 | $20792 | $17436 |
| **12/20** | $18749 | $21728 | $18887 |
| **01/21** | $19925 | $21631 | $20075 |
| **02/21** | $21424 | $22307 | $21611 |
| **03/21** | $22131 | $23107 | $22332 |
| **04/21** | $22578 | $24298 | $22787 |
| **05/21** | $23040 | $24409 | $23260 |
| **06/21** | $23117 | $25010 | $23338 |
| **07/21** | $22558 | $25433 | $22781 |
| **08/21** | $23014 | $26159 | $23240 |
| **09/21** | $22448 | $24985 | $22675 |
| **10/21** | $23213 | $26675 | $23452 |
| **11/21** | $22676 | $26269 | $22915 |
| **12/21** | $23692 | $27303 | $23953 |
| **01/22** | $21961 | $25697 | $22213 |
| **02/22** | $22265 | $25049 | $22523 |
| **03/22** | $22343 | $25862 | $22606 |
| **04/22** | $20588 | $23541 | $20841 |
| **05/22** | $20970 | $23509 | $21229 |
| **06/22** | $19172 | $21543 | $19415 |
| **07/22** | $21095 | $23564 | $21360 |
| **08/22** | $20170 | $22684 | $20423 |
| **09/22** | $18174 | $20581 | $18405 |
| **10/22** | $20419 | $22269 | $20681 |
| **11/22** | $21256 | $23431 | $21543 |
| **12/22** | $19834 | $22059 | $20097 |
| **01/23** | $21711 | $23578 | $22005 |
| **02/23** | $21435 | $23027 | $21734 |
| **03/23** | $20325 | $23643 | $20613 |
| **04/23** | $19765 | $23895 | $20040 |
| **05/23** | $19421 | $23988 | $19689 |
| **06/23** | $21004 | $25626 | $21309 |
| **07/23** | $22163 | $26544 | $22483 |
| **08/23** | $21241 | $26032 | $21553 |
| **09/23** | $19960 | $24792 | $20260 |
| **10/23** | $18810 | $24135 | $19098 |
| **11/23** | $20364 | $26385 | $20677 |
| **12/23** | $22970 | $27785 | $23323 |
| **01/24** | $22060 | $28093 | $22402 |
| **02/24** | $22788 | $29613 | $23147 |
| **03/24** | $23525 | $30569 | $23897 |
| **04/24** | $22196 | $29224 | $22556 |
| **05/24** | $23316 | $30604 | $23693 |
| **06/24** | $22778 | $31552 | $23154 |
| **07/24** | $25237 | $32138 | $25654 |
| **08/24** | $24869 | $32838 | $25284 |
| **09/24** | $25077 | $33517 | $25499 |
| **10/24** | $24415 | $33271 | $24827 |
| **11/24** | $27082 | $35484 | $27542 |
| **12/24** | $24919 | $34400 | $25351 |
| **01/25** | $25641 | $35486 | $26089 |
| **02/25** | $24166 | $34806 | $24599 |
| **03/25** | $22680 | $32775 | $23088 |
| **04/25** | $21728 | $32556 | $22121 |
| **05/25** | $22869 | $34619 | $23278 |
| **06/25** | $23790 | $36378 | $24219 |
| **07/25** | $24008 | $37179 | $24444 |
| **08/25** | $25705 | $38039 | $26171 |
| **09/25** | $25956 | $39352 | $26427 |
| **10/25** | $25738 | $40196 | $26195 |
| **11/25** | $26413 | $40306 | $26890 |
| **12/25** | $26387 | $40298 | $26876 |
| **01/26** | $27863 | $40923 | $28383 |
| **02/26** | $28460 | $40728 | $29000 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 17.77 | 5.84 | 11.03 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| S&P SmallCap 600<sup>®</sup> Index | 17.89 | 6.06 | 11.23 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2547107539 |
| **Total number of portfolio holdings** | 608 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $5098990 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Small Cap Index Fund \| Institutional 2 Class **\|** ASR228_15_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 17.3% |
| Consumer Discretionary | 13.8% |
| Information Technology | 13.1% |
| Health Care | 10.7% |
| Real Estate | 7.0% |
| Materials | 5.8% |
| Energy | 5.5% |
| Communication Services | 3.0% |
| Consumer Staples | 2.5% |
| Other | 2.2% |

---

### Top Holdings

---

| | |
|:---|:---|
| Solstice Advanced Materials, Inc. | 0.8% |
| iShares Core S&P Small-Cap ETF | 0.7% |
| Moog, Inc., Class A | 0.6% |
| InterDigital, Inc. | 0.6% |
| CareTrust REIT, Inc. | 0.6% |
| SiTime Corp. | 0.5% |
| Eastman Chemical Co. | 0.5% |
| LKQ Corp. | 0.5% |
| Sanmina Corp. | 0.5% |
| Primoris Services Corp. | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Other | 1.6% |

---

## 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](g250382g50k50.jpg)

Columbia Small Cap Index Fund \| Institutional 2 Class **\|** ASR228_15_(04/26) \|

# Columbia Small Cap Index Fund
Institutional 3 Class \| CSPYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The industrials, information technology and materials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Sandisk, a data storage and semiconductor hardware company; Kratos Defense & Security Solutions, a defense technology and aerospace company; Sterling Infrastructure, an engineering & construction infrastructure services company; TTM Technologies, an electronic components and advanced manufacturing company; and Mr. Cooper Group, a mortgage finance and servicing company, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors** \| The health care, communication services and consumer staples sectors were the weakest performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings** \| Fund positions in Inspire Medical Systems, a medical device company; Robert Half, a professional staffing and consulting services company; V.F. Corporation, a branded apparel and footwear company; FMC Corporation, an agricultural chemicals and crop science company; and Alaska Air, an airline holding company, were among the top absolute detractors from Fund performance during the period.

Columbia Small Cap Index Fund \| Institutional 3 Class **\|** ASR228_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g44o26.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Index Fund Institutional 3 Class ($28409)** | **Russell 3000<sup>®</sup> Index ($40728)** | **S&P SmallCap 600<sup>®</sup> Index ($29000)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10819 | $10704 | $10820 |
| **04/16** | $10940 | $10770 | $10947 |
| **05/16** | $11118 | $10963 | $11128 |
| **06/16** | $11181 | $10986 | $11196 |
| **07/16** | $11747 | $11422 | $11766 |
| **08/16** | $11902 | $11451 | $11925 |
| **09/16** | $11977 | $11469 | $12002 |
| **10/16** | $11438 | $11221 | $11465 |
| **11/16** | $12863 | $11723 | $12904 |
| **12/16** | $13293 | $11952 | $13338 |
| **01/17** | $13231 | $12176 | $13285 |
| **02/17** | $13440 | $12629 | $13497 |
| **03/17** | $13430 | $12638 | $13480 |
| **04/17** | $13550 | $12772 | $13602 |
| **05/17** | $13263 | $12903 | $13313 |
| **06/17** | $13657 | $13019 | $13711 |
| **07/17** | $13785 | $13264 | $13844 |
| **08/17** | $13436 | $13290 | $13489 |
| **09/17** | $14467 | $13614 | $14529 |
| **10/17** | $14601 | $13911 | $14666 |
| **11/17** | $15114 | $14334 | $15183 |
| **12/17** | $15031 | $14477 | $15104 |
| **01/18** | $15409 | $15240 | $15486 |
| **02/18** | $14808 | $14678 | $14886 |
| **03/18** | $15106 | $14384 | $15189 |
| **04/18** | $15260 | $14438 | $15346 |
| **05/18** | $16239 | $14846 | $16337 |
| **06/18** | $16424 | $14943 | $16522 |
| **07/18** | $16934 | $15439 | $17043 |
| **08/18** | $17752 | $15981 | $17867 |
| **09/18** | $17186 | $16008 | $17300 |
| **10/18** | $15384 | $14829 | $15487 |
| **11/18** | $15611 | $15126 | $15720 |
| **12/18** | $13722 | $13718 | $13823 |
| **01/19** | $15178 | $14896 | $15293 |
| **02/19** | $15844 | $15419 | $15959 |
| **03/19** | $15315 | $15645 | $15427 |
| **04/19** | $15905 | $16269 | $16025 |
| **05/19** | $14519 | $15216 | $14626 |
| **06/19** | $15597 | $16285 | $15715 |
| **07/19** | $15766 | $16527 | $15894 |
| **08/19** | $15056 | $16190 | $15177 |
| **09/19** | $15555 | $16475 | $15684 |
| **10/19** | $15850 | $16829 | $15989 |
| **11/19** | $16336 | $17469 | $16479 |
| **12/19** | $16824 | $17973 | $16972 |
| **01/20** | $16157 | $17954 | $16298 |
| **02/20** | $14602 | $16484 | $14732 |
| **03/20** | $11331 | $14217 | $11433 |
| **04/20** | $12768 | $16100 | $12885 |
| **05/20** | $13318 | $16961 | $13440 |
| **06/20** | $13824 | $17349 | $13942 |
| **07/20** | $14390 | $18334 | $14515 |
| **08/20** | $14963 | $19662 | $15094 |
| **09/20** | $14256 | $18946 | $14384 |
| **10/20** | $14621 | $18537 | $14755 |
| **11/20** | $17279 | $20792 | $17436 |
| **12/20** | $18711 | $21728 | $18887 |
| **01/21** | $19882 | $21631 | $20075 |
| **02/21** | $21379 | $22307 | $21611 |
| **03/21** | $22086 | $23107 | $22332 |
| **04/21** | $22527 | $24298 | $22787 |
| **05/21** | $22990 | $24409 | $23260 |
| **06/21** | $23072 | $25010 | $23338 |
| **07/21** | $22513 | $25433 | $22781 |
| **08/21** | $22963 | $26159 | $23240 |
| **09/21** | $22396 | $24985 | $22675 |
| **10/21** | $23165 | $26675 | $23452 |
| **11/21** | $22629 | $26269 | $22915 |
| **12/21** | $23639 | $27303 | $23953 |
| **01/22** | $21914 | $25697 | $22213 |
| **02/22** | $22219 | $25049 | $22523 |
| **03/22** | $22293 | $25862 | $22606 |
| **04/22** | $20551 | $23541 | $20841 |
| **05/22** | $20923 | $23509 | $21229 |
| **06/22** | $19135 | $21543 | $19415 |
| **07/22** | $21046 | $23564 | $21360 |
| **08/22** | $20125 | $22684 | $20423 |
| **09/22** | $18136 | $20581 | $18405 |
| **10/22** | $20372 | $22269 | $20681 |
| **11/22** | $21217 | $23431 | $21543 |
| **12/22** | $19794 | $22059 | $20097 |
| **01/23** | $21665 | $23578 | $22005 |
| **02/23** | $21399 | $23027 | $21734 |
| **03/23** | $20289 | $23643 | $20613 |
| **04/23** | $19720 | $23895 | $20040 |
| **05/23** | $19381 | $23988 | $19689 |
| **06/23** | $20967 | $25626 | $21309 |
| **07/23** | $22119 | $26544 | $22483 |
| **08/23** | $21201 | $26032 | $21553 |
| **09/23** | $19918 | $24792 | $20260 |
| **10/23** | $18776 | $24135 | $19098 |
| **11/23** | $20321 | $26385 | $20677 |
| **12/23** | $22924 | $27785 | $23323 |
| **01/24** | $22009 | $28093 | $22402 |
| **02/24** | $22739 | $29613 | $23147 |
| **03/24** | $23479 | $30569 | $23897 |
| **04/24** | $22155 | $29224 | $22556 |
| **05/24** | $23265 | $30604 | $23693 |
| **06/24** | $22738 | $31552 | $23154 |
| **07/24** | $25194 | $32138 | $25654 |
| **08/24** | $24818 | $32838 | $25284 |
| **09/24** | $25031 | $33517 | $25499 |
| **10/24** | $24372 | $33271 | $24827 |
| **11/24** | $27030 | $35484 | $27542 |
| **12/24** | $24873 | $34400 | $25351 |
| **01/25** | $25586 | $35486 | $26089 |
| **02/25** | $24127 | $34806 | $24599 |
| **03/25** | $22634 | $32775 | $23088 |
| **04/25** | $21695 | $32556 | $22121 |
| **05/25** | $22826 | $34619 | $23278 |
| **06/25** | $23743 | $36378 | $24219 |
| **07/25** | $23968 | $37179 | $24444 |
| **08/25** | $25656 | $38039 | $26171 |
| **09/25** | $25904 | $39352 | $26427 |
| **10/25** | $25691 | $40196 | $26195 |
| **11/25** | $26364 | $40306 | $26890 |
| **12/25** | $26337 | $40298 | $26876 |
| **01/26** | $27820 | $40923 | $28383 |
| **02/26** | $28409 | $40728 | $29000 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class<sup>Footnote Reference(a)</sup> | 17.75 | 5.85 | 11.01 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| S&P SmallCap 600<sup>®</sup> Index | 17.89 | 6.06 | 11.23 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to March 1, 2017 (including Since Fund Inception returns, if shown) include the returns of Class A. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2547107539 |
| **Total number of portfolio holdings** | 608 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $5098990 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Small Cap Index Fund \| Institutional 3 Class **\|** ASR228_17_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 17.3% |
| Consumer Discretionary | 13.8% |
| Information Technology | 13.1% |
| Health Care | 10.7% |
| Real Estate | 7.0% |
| Materials | 5.8% |
| Energy | 5.5% |
| Communication Services | 3.0% |
| Consumer Staples | 2.5% |
| Other | 2.2% |

---

### Top Holdings

---

| | |
|:---|:---|
| Solstice Advanced Materials, Inc. | 0.8% |
| iShares Core S&P Small-Cap ETF | 0.7% |
| Moog, Inc., Class A | 0.6% |
| InterDigital, Inc. | 0.6% |
| CareTrust REIT, Inc. | 0.6% |
| SiTime Corp. | 0.5% |
| Eastman Chemical Co. | 0.5% |
| LKQ Corp. | 0.5% |
| Sanmina Corp. | 0.5% |
| Primoris Services Corp. | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Other | 1.6% |

---

## 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](g250382g50k50.jpg)

Columbia Small Cap Index Fund \| Institutional 3 Class **\|** ASR228_17_(04/26) \|

# Columbia Small Cap Index Fund
Institutional Class \| NMSCX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Index Fund (the Fund) for the period of March 1, 2025 to February 28, 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 | $22 | 0.20% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Sectors \|** The industrials, information technology and materials sectors were the top performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings \|** Fund positions in Sandisk, a data storage and semiconductor hardware company; Kratos Defense & Security Solutions, a defense technology and aerospace company; Sterling Infrastructure, an engineering & construction infrastructure services company; TTM Technologies, an electronic components and advanced manufacturing company; and Mr. Cooper Group, a mortgage finance and servicing company, were among the top absolute contributors to Fund performance during the period.

### Top Performance Detractors
**Sectors** \| The health care, communication services and consumer staples sectors were the weakest performing sectors for the Fund, on an absolute basis, during the period.

**Individual holdings** \| Fund positions in Inspire Medical Systems, a medical device company; Robert Half, a professional staffing and consulting services company; V.F. Corporation, a branded apparel and footwear company; FMC Corporation, an agricultural chemicals and crop science company; and Alaska Air, an airline holding company, were among the top absolute detractors from Fund performance during the period.

Columbia Small Cap Index Fund \| Institutional Class **\|** ASR228_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g61t29.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Index Fund Institutional Class ($28468)** | **Russell 3000<sup>®</sup> Index ($40728)** | **S&P SmallCap 600<sup>®</sup> Index ($29000)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10815 | $10704 | $10820 |
| **04/16** | $10946 | $10770 | $10947 |
| **05/16** | $11123 | $10963 | $11128 |
| **06/16** | $11190 | $10986 | $11196 |
| **07/16** | $11759 | $11422 | $11766 |
| **08/16** | $11918 | $11451 | $11925 |
| **09/16** | $11993 | $11469 | $12002 |
| **10/16** | $11456 | $11221 | $11465 |
| **11/16** | $12885 | $11723 | $12904 |
| **12/16** | $13316 | $11952 | $13338 |
| **01/17** | $13260 | $12176 | $13285 |
| **02/17** | $13474 | $12629 | $13497 |
| **03/17** | $13463 | $12638 | $13480 |
| **04/17** | $13581 | $12772 | $13602 |
| **05/17** | $13288 | $12903 | $13313 |
| **06/17** | $13686 | $13019 | $13711 |
| **07/17** | $13817 | $13264 | $13844 |
| **08/17** | $13458 | $13290 | $13489 |
| **09/17** | $14497 | $13614 | $14529 |
| **10/17** | $14628 | $13911 | $14666 |
| **11/17** | $15142 | $14334 | $15183 |
| **12/17** | $15061 | $14477 | $15104 |
| **01/18** | $15437 | $15240 | $15486 |
| **02/18** | $14836 | $14678 | $14886 |
| **03/18** | $15139 | $14384 | $15189 |
| **04/18** | $15291 | $14438 | $15346 |
| **05/18** | $16273 | $14846 | $16337 |
| **06/18** | $16453 | $14943 | $16522 |
| **07/18** | $16971 | $15439 | $17043 |
| **08/18** | $17784 | $15981 | $17867 |
| **09/18** | $17217 | $16008 | $17300 |
| **10/18** | $15412 | $14829 | $15487 |
| **11/18** | $15640 | $15126 | $15720 |
| **12/18** | $13749 | $13718 | $13823 |
| **01/19** | $15210 | $14896 | $15293 |
| **02/19** | $15873 | $15419 | $15959 |
| **03/19** | $15344 | $15645 | $15427 |
| **04/19** | $15934 | $16269 | $16025 |
| **05/19** | $14547 | $15216 | $14626 |
| **06/19** | $15626 | $16285 | $15715 |
| **07/19** | $15798 | $16527 | $15894 |
| **08/19** | $15084 | $16190 | $15177 |
| **09/19** | $15585 | $16475 | $15684 |
| **10/19** | $15887 | $16829 | $15989 |
| **11/19** | $16367 | $17469 | $16479 |
| **12/19** | $16857 | $17973 | $16972 |
| **01/20** | $16186 | $17954 | $16298 |
| **02/20** | $14628 | $16484 | $14732 |
| **03/20** | $11355 | $14217 | $11433 |
| **04/20** | $12791 | $16100 | $12885 |
| **05/20** | $13342 | $16961 | $13440 |
| **06/20** | $13849 | $17349 | $13942 |
| **07/20** | $14414 | $18334 | $14515 |
| **08/20** | $14987 | $19662 | $15094 |
| **09/20** | $14284 | $18946 | $14384 |
| **10/20** | $14646 | $18537 | $14755 |
| **11/20** | $17307 | $20792 | $17436 |
| **12/20** | $18746 | $21728 | $18887 |
| **01/21** | $19922 | $21631 | $20075 |
| **02/21** | $21424 | $22307 | $21611 |
| **03/21** | $22127 | $23107 | $22332 |
| **04/21** | $22578 | $24298 | $22787 |
| **05/21** | $23037 | $24409 | $23260 |
| **06/21** | $23116 | $25010 | $23338 |
| **07/21** | $22557 | $25433 | $22781 |
| **08/21** | $23011 | $26159 | $23240 |
| **09/21** | $22444 | $24985 | $22675 |
| **10/21** | $23214 | $26675 | $23452 |
| **11/21** | $22671 | $26269 | $22915 |
| **12/21** | $23691 | $27303 | $23953 |
| **01/22** | $21959 | $25697 | $22213 |
| **02/22** | $22264 | $25049 | $22523 |
| **03/22** | $22344 | $25862 | $22606 |
| **04/22** | $20589 | $23541 | $20841 |
| **05/22** | $20965 | $23509 | $21229 |
| **06/22** | $19173 | $21543 | $19415 |
| **07/22** | $21093 | $23564 | $21360 |
| **08/22** | $20166 | $22684 | $20423 |
| **09/22** | $18171 | $20581 | $18405 |
| **10/22** | $20414 | $22269 | $20681 |
| **11/22** | $21259 | $23431 | $21543 |
| **12/22** | $19828 | $22059 | $20097 |
| **01/23** | $21710 | $23578 | $22005 |
| **02/23** | $21435 | $23027 | $21734 |
| **03/23** | $20325 | $23643 | $20613 |
| **04/23** | $19766 | $23895 | $20040 |
| **05/23** | $19420 | $23988 | $19689 |
| **06/23** | $21008 | $25626 | $21309 |
| **07/23** | $22158 | $26544 | $22483 |
| **08/23** | $21235 | $26032 | $21553 |
| **09/23** | $19958 | $24792 | $20260 |
| **10/23** | $18808 | $24135 | $19098 |
| **11/23** | $20365 | $26385 | $20677 |
| **12/23** | $22964 | $27785 | $23323 |
| **01/24** | $22052 | $28093 | $22402 |
| **02/24** | $22785 | $29613 | $23147 |
| **03/24** | $23519 | $30569 | $23897 |
| **04/24** | $22193 | $29224 | $22556 |
| **05/24** | $23312 | $30604 | $23693 |
| **06/24** | $22785 | $31552 | $23154 |
| **07/24** | $25240 | $32138 | $25654 |
| **08/24** | $24868 | $32838 | $25284 |
| **09/24** | $25074 | $33517 | $25499 |
| **10/24** | $24418 | $33271 | $24827 |
| **11/24** | $27079 | $35484 | $27542 |
| **12/24** | $24921 | $34400 | $25351 |
| **01/25** | $25638 | $35486 | $26089 |
| **02/25** | $24172 | $34806 | $24599 |
| **03/25** | $22674 | $32775 | $23088 |
| **04/25** | $21729 | $32556 | $22121 |
| **05/25** | $22869 | $34619 | $23278 |
| **06/25** | $23793 | $36378 | $24219 |
| **07/25** | $24008 | $37179 | $24444 |
| **08/25** | $25705 | $38039 | $26171 |
| **09/25** | $25954 | $39352 | $26427 |
| **10/25** | $25739 | $40196 | $26195 |
| **11/25** | $26406 | $40306 | $26890 |
| **12/25** | $26392 | $40298 | $26876 |
| **01/26** | $27869 | $40923 | $28383 |
| **02/26** | $28468 | $40728 | $29000 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 17.77 | 5.85 | 11.03 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| S&P SmallCap 600<sup>®</sup> Index | 17.89 | 6.06 | 11.23 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2547107539 |
| **Total number of portfolio holdings** | 608 |
| **Management services fees (represents 0.20% of Fund average net assets)** | $5098990 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Small Cap Index Fund \| Institutional Class **\|** ASR228_08_(04/26) \|

## 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

---

| | |
|:---|:---|
| Industrials | 17.6% |
| Financials | 17.3% |
| Consumer Discretionary | 13.8% |
| Information Technology | 13.1% |
| Health Care | 10.7% |
| Real Estate | 7.0% |
| Materials | 5.8% |
| Energy | 5.5% |
| Communication Services | 3.0% |
| Consumer Staples | 2.5% |
| Other | 2.2% |

---

### Top Holdings

---

| | |
|:---|:---|
| Solstice Advanced Materials, Inc. | 0.8% |
| iShares Core S&P Small-Cap ETF | 0.7% |
| Moog, Inc., Class A | 0.6% |
| InterDigital, Inc. | 0.6% |
| CareTrust REIT, Inc. | 0.6% |
| SiTime Corp. | 0.5% |
| Eastman Chemical Co. | 0.5% |
| LKQ Corp. | 0.5% |
| Sanmina Corp. | 0.5% |
| Primoris Services Corp. | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.5% |
| Other | 1.6% |

---

## 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](g250382g50k50.jpg)

Columbia Small Cap Index Fund \| Institutional Class **\|** ASR228_08_(04/26) \|

# Columbia Small Cap Value and Inflection Fund
Class A \| COVAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Value and Inflection Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $132 | 1.20% |

---

## Management's Discussion of Fund Performance
The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, consumer staples and utilities sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the financials and utilities sectors and a larger allocation to the information technology sector buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in MP Materials, a rare earths company; Modine Manufacturing, an HVAC company; Dycom Industries, a telecom infrastructure contractor; Amkor Technology, a semiconductor packaging and testing company; and an overweight to Victoria's Secret, a specialty retailer, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, materials and communication services sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Smaller weightings in the communication services and energy sectors and a larger weighting in the consumer discretionary sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Lack of ownership of EchoStar, a telecom company; Hecla Mining, a precious metals miner; and Coeur Mining, a precious metals miner, were top detractors from the Fund's relative performance during the period. Positions in Alaska Air Group, an airline, and Cousins Properties, an office REIT, were also top detractors from the Fund's relative performance during the period.

Columbia Small Cap Value and Inflection Fund \| Class A **\|** ASR230_01_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g70n18.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Value and Inflection Fund Class A (including sales charges) ($25685)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell 2000<sup>®</sup> Value Index ($28130)** |
| **02/16** | $9424 | $10000 | $10000 |
| **03/16** | $10141 | $10704 | $10829 |
| **04/16** | $10208 | $10770 | $11058 |
| **05/16** | $10362 | $10963 | $11261 |
| **06/16** | $10354 | $10986 | $11295 |
| **07/16** | $10875 | $11422 | $11905 |
| **08/16** | $11024 | $11451 | $12200 |
| **09/16** | $11099 | $11469 | $12297 |
| **10/16** | $10672 | $11221 | $11892 |
| **11/16** | $12100 | $11723 | $13471 |
| **12/16** | $12438 | $11952 | $14027 |
| **01/17** | $12516 | $12176 | $13927 |
| **02/17** | $12720 | $12629 | $14129 |
| **03/17** | $12516 | $12638 | $14009 |
| **04/17** | $12593 | $12772 | $14064 |
| **05/17** | $12261 | $12903 | $13626 |
| **06/17** | $12601 | $13019 | $14103 |
| **07/17** | $12683 | $13264 | $14192 |
| **08/17** | $12504 | $13290 | $13843 |
| **09/17** | $13316 | $13614 | $14823 |
| **10/17** | $13421 | $13911 | $14843 |
| **11/17** | $13778 | $14334 | $15272 |
| **12/17** | $13760 | $14477 | $15127 |
| **01/18** | $13977 | $15240 | $15313 |
| **02/18** | $13286 | $14678 | $14547 |
| **03/18** | $13380 | $14384 | $14727 |
| **04/18** | $13543 | $14438 | $14983 |
| **05/18** | $14086 | $14846 | $15854 |
| **06/18** | $13986 | $14943 | $15950 |
| **07/18** | $14265 | $15439 | $16232 |
| **08/18** | $14679 | $15981 | $16618 |
| **09/18** | $14153 | $16008 | $16206 |
| **10/18** | $12783 | $14829 | $14755 |
| **11/18** | $12998 | $15126 | $14993 |
| **12/18** | $11326 | $13718 | $13181 |
| **01/19** | $12687 | $14896 | $14622 |
| **02/19** | $13266 | $15419 | $15191 |
| **03/19** | $12871 | $15645 | $14753 |
| **04/19** | $13424 | $16269 | $15311 |
| **05/19** | $12336 | $15216 | $14060 |
| **06/19** | $13109 | $16285 | $14956 |
| **07/19** | $13091 | $16527 | $14980 |
| **08/19** | $12347 | $16190 | $14144 |
| **09/19** | $12724 | $16475 | $14870 |
| **10/19** | $12930 | $16829 | $15230 |
| **11/19** | $13225 | $17469 | $15587 |
| **12/19** | $13631 | $17973 | $16132 |
| **01/20** | $13040 | $17954 | $15262 |
| **02/20** | $11730 | $16484 | $13779 |
| **03/20** | $8772 | $14217 | $10380 |
| **04/20** | $10155 | $16100 | $11660 |
| **05/20** | $10692 | $16961 | $11995 |
| **06/20** | $10744 | $17349 | $12342 |
| **07/20** | $11092 | $18334 | $12596 |
| **08/20** | $11650 | $19662 | $13275 |
| **09/20** | $11174 | $18946 | $12657 |
| **10/20** | $11567 | $18537 | $13110 |
| **11/20** | $13881 | $20792 | $15641 |
| **12/20** | $14974 | $21728 | $16880 |
| **01/21** | $15754 | $21631 | $17768 |
| **02/21** | $17295 | $22307 | $19437 |
| **03/21** | $18002 | $23107 | $20453 |
| **04/21** | $18626 | $24298 | $20867 |
| **05/21** | $19093 | $24409 | $21516 |
| **06/21** | $18979 | $25010 | $21386 |
| **07/21** | $18329 | $25433 | $20620 |
| **08/21** | $18769 | $26159 | $21173 |
| **09/21** | $18692 | $24985 | $20748 |
| **10/21** | $19963 | $26675 | $21539 |
| **11/21** | $19447 | $26269 | $20804 |
| **12/21** | $20020 | $27303 | $21652 |
| **01/22** | $18868 | $25697 | $20390 |
| **02/22** | $19360 | $25049 | $20727 |
| **03/22** | $19465 | $25862 | $21133 |
| **04/22** | $17925 | $23541 | $19493 |
| **05/22** | $18344 | $23509 | $19867 |
| **06/22** | $16519 | $21543 | $17904 |
| **07/22** | $17920 | $23564 | $19638 |
| **08/22** | $17366 | $22684 | $19017 |
| **09/22** | $15704 | $20581 | $17079 |
| **10/22** | $17496 | $22269 | $19229 |
| **11/22** | $18441 | $23431 | $19816 |
| **12/22** | $17249 | $22059 | $18516 |
| **01/23** | $18599 | $23578 | $20283 |
| **02/23** | $18399 | $23027 | $19815 |
| **03/23** | $17417 | $23643 | $18395 |
| **04/23** | $17327 | $23895 | $17936 |
| **05/23** | $16747 | $23988 | $17583 |
| **06/23** | $18116 | $25626 | $18980 |
| **07/23** | $19175 | $26544 | $20412 |
| **08/23** | $18392 | $26032 | $19430 |
| **09/23** | $17402 | $24792 | $18418 |
| **10/23** | $16480 | $24135 | $17319 |
| **11/23** | $17805 | $26385 | $18878 |
| **12/23** | $19620 | $27785 | $21228 |
| **01/24** | $18805 | $28093 | $20264 |
| **02/24** | $19608 | $29613 | $20927 |
| **03/24** | $20544 | $30569 | $21844 |
| **04/24** | $19596 | $29224 | $20452 |
| **05/24** | $20520 | $30604 | $21409 |
| **06/24** | $20032 | $31552 | $21048 |
| **07/24** | $21918 | $32138 | $23613 |
| **08/24** | $21656 | $32838 | $23170 |
| **09/24** | $21780 | $33517 | $23184 |
| **10/24** | $21725 | $33271 | $22822 |
| **11/24** | $23818 | $35484 | $25023 |
| **12/24** | $21842 | $34400 | $22938 |
| **01/25** | $22281 | $35486 | $23409 |
| **02/25** | $21308 | $34806 | $22513 |
| **03/25** | $19912 | $32775 | $21162 |
| **04/25** | $19127 | $32556 | $20312 |
| **05/25** | $20084 | $34619 | $21165 |
| **06/25** | $21061 | $36378 | $22213 |
| **07/25** | $21324 | $37179 | $22605 |
| **08/25** | $23082 | $38039 | $24520 |
| **09/25** | $23229 | $39352 | $25013 |
| **10/25** | $22917 | $40196 | $25075 |
| **11/25** | $23525 | $40306 | $25780 |
| **12/25** | $23574 | $40298 | $25827 |
| **01/26** | $24987 | $40923 | $27598 |
| **02/26** | $25685 | $40728 | $28130 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A (excluding sales charges) | 20.54 | 8.23 | 10.55 |
| Class A (including sales charges) | 13.60 | 6.96 | 9.89 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell 2000<sup>®</sup> Value Index | 24.95 | 7.67 | 10.90 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $826343737 |
| **Total number of portfolio holdings** | 101 |
| **Management services fees (represents 0.85% of Fund average net assets)** | $7007299 |
| **Portfolio turnover for the reporting period** | 115% |

---

Columbia Small Cap Value and Inflection Fund \| Class A **\|** ASR230_01_(04/26) \|

## 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 | 19.7% |
| Industrials | 15.6% |
| Real Estate | 12.4% |
| Consumer Discretionary | 12.1% |
| Information Technology | 9.4% |
| Energy | 9.3% |
| Health Care | 7.0% |
| Materials | 6.0% |
| Consumer Staples | 4.1% |
| Utilities | 2.6% |
| Other | 0.9% |

---

### Top Holdings

---

| | |
|:---|:---|
| Phillips Edison & Co., Inc. | 2.1% |
| BankUnited, Inc. | 1.8% |
| California Resources Corp. | 1.8% |
| StoneX Group, Inc. | 1.7% |
| Essent Group Ltd. | 1.7% |
| Texas Capital Bancshares, Inc. | 1.7% |
| Fulton Financial Corp. | 1.6% |
| Polaris, Inc. | 1.6% |
| Amneal Pharmaceuticals, Inc. | 1.6% |
| Taylor Morrison Home Corp., Class A | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.1% |
| Other | 0.6% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Small Cap Value Fund II to Columbia Small Cap Value and Inflection Fund.

## 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](g250382g50k50.jpg)

Columbia Small Cap Value and Inflection Fund \| Class A **\|** ASR230_01_(04/26) \|

# Columbia Small Cap Value and Inflection Fund
Class R \| CCTRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Value and Inflection Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class R | $160 | 1.45% |

---

## Management's Discussion of Fund Performance
The performance of Class R shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, consumer staples and utilities sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the financials and utilities sectors and a larger allocation to the information technology sector buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in MP Materials, a rare earths company; Modine Manufacturing, an HVAC company; Dycom Industries, a telecom infrastructure contractor; Amkor Technology, a semiconductor packaging and testing company; and an overweight to Victoria's Secret, a specialty retailer, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, materials and communication services sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Smaller weightings in the communication services and energy sectors and a larger weighting in the consumer discretionary sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Lack of ownership of EchoStar, a telecom company; Hecla Mining, a precious metals miner; and Coeur Mining, a precious metals miner, were top detractors from the Fund's relative performance during the period. Positions in Alaska Air Group, an airline, and Cousins Properties, an office REIT, were also top detractors from the Fund's relative performance during the period.

Columbia Small Cap Value and Inflection Fund \| Class R **\|** ASR230_12_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g86x24.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Value and Inflection Fund Class R ($26572)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell 2000<sup>®</sup> Value Index ($28130)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10755 | $10704 | $10829 |
| **04/16** | $10827 | $10770 | $11058 |
| **05/16** | $10992 | $10963 | $11261 |
| **06/16** | $10980 | $10986 | $11295 |
| **07/16** | $11525 | $11422 | $11905 |
| **08/16** | $11684 | $11451 | $12200 |
| **09/16** | $11757 | $11469 | $12297 |
| **10/16** | $11300 | $11221 | $11892 |
| **11/16** | $12817 | $11723 | $13471 |
| **12/16** | $13171 | $11952 | $14027 |
| **01/17** | $13255 | $12176 | $13927 |
| **02/17** | $13467 | $12629 | $14129 |
| **03/17** | $13247 | $12638 | $14009 |
| **04/17** | $13323 | $12772 | $14064 |
| **05/17** | $12974 | $12903 | $13626 |
| **06/17** | $13324 | $13019 | $14103 |
| **07/17** | $13412 | $13264 | $14192 |
| **08/17** | $13220 | $13290 | $13843 |
| **09/17** | $14075 | $13614 | $14823 |
| **10/17** | $14179 | $13911 | $14843 |
| **11/17** | $14555 | $14334 | $15272 |
| **12/17** | $14540 | $14477 | $15127 |
| **01/18** | $14765 | $15240 | $15313 |
| **02/18** | $14031 | $14678 | $14547 |
| **03/18** | $14123 | $14384 | $14727 |
| **04/18** | $14290 | $14438 | $14983 |
| **05/18** | $14865 | $14846 | $15854 |
| **06/18** | $14749 | $14943 | $15950 |
| **07/18** | $15039 | $15439 | $16232 |
| **08/18** | $15475 | $15981 | $16618 |
| **09/18** | $14920 | $16008 | $16206 |
| **10/18** | $13475 | $14829 | $14755 |
| **11/18** | $13697 | $15126 | $14993 |
| **12/18** | $11938 | $13718 | $13181 |
| **01/19** | $13363 | $14896 | $14622 |
| **02/19** | $13967 | $15419 | $15191 |
| **03/19** | $13552 | $15645 | $14753 |
| **04/19** | $14137 | $16269 | $15311 |
| **05/19** | $12986 | $15216 | $14060 |
| **06/19** | $13792 | $16285 | $14956 |
| **07/19** | $13773 | $16527 | $14980 |
| **08/19** | $12983 | $16190 | $14144 |
| **09/19** | $13378 | $16475 | $14870 |
| **10/19** | $13599 | $16829 | $15230 |
| **11/19** | $13898 | $17469 | $15587 |
| **12/19** | $14332 | $17973 | $16132 |
| **01/20** | $13698 | $17954 | $15262 |
| **02/20** | $12321 | $16484 | $13779 |
| **03/20** | $9207 | $14217 | $10380 |
| **04/20** | $10671 | $16100 | $11660 |
| **05/20** | $11227 | $16961 | $11995 |
| **06/20** | $11274 | $17349 | $12342 |
| **07/20** | $11637 | $18334 | $12596 |
| **08/20** | $12225 | $19662 | $13275 |
| **09/20** | $11715 | $18946 | $12657 |
| **10/20** | $12137 | $18537 | $13110 |
| **11/20** | $14560 | $20792 | $15641 |
| **12/20** | $15697 | $21728 | $16880 |
| **01/21** | $16513 | $21631 | $17768 |
| **02/21** | $18125 | $22307 | $19437 |
| **03/21** | $18862 | $23107 | $20453 |
| **04/21** | $19511 | $24298 | $20867 |
| **05/21** | $20003 | $24409 | $21516 |
| **06/21** | $19880 | $25010 | $21386 |
| **07/21** | $19183 | $25433 | $20620 |
| **08/21** | $19644 | $26159 | $21173 |
| **09/21** | $19562 | $24985 | $20748 |
| **10/21** | $20895 | $26675 | $21539 |
| **11/21** | $20341 | $26269 | $20804 |
| **12/21** | $20936 | $27303 | $21652 |
| **01/22** | $19733 | $25697 | $20390 |
| **02/22** | $20251 | $25049 | $20727 |
| **03/22** | $20340 | $25862 | $21133 |
| **04/22** | $18721 | $23541 | $19493 |
| **05/22** | $19149 | $23509 | $19867 |
| **06/22** | $17246 | $21543 | $17904 |
| **07/22** | $18704 | $23564 | $19638 |
| **08/22** | $18132 | $22684 | $19017 |
| **09/22** | $16394 | $20581 | $17079 |
| **10/22** | $18261 | $22269 | $19229 |
| **11/22** | $19241 | $23431 | $19816 |
| **12/22** | $17989 | $22059 | $18516 |
| **01/23** | $19389 | $23578 | $20283 |
| **02/23** | $19174 | $23027 | $19815 |
| **03/23** | $18157 | $23643 | $18395 |
| **04/23** | $18061 | $23895 | $17936 |
| **05/23** | $17450 | $23988 | $17583 |
| **06/23** | $18862 | $25626 | $18980 |
| **07/23** | $19962 | $26544 | $20412 |
| **08/23** | $19159 | $26032 | $19430 |
| **09/23** | $18120 | $24792 | $18418 |
| **10/23** | $17156 | $24135 | $17319 |
| **11/23** | $18528 | $26385 | $18878 |
| **12/23** | $20419 | $27785 | $21228 |
| **01/24** | $19558 | $28093 | $20264 |
| **02/24** | $20394 | $29613 | $20927 |
| **03/24** | $21358 | $30569 | $21844 |
| **04/24** | $20368 | $29224 | $20452 |
| **05/24** | $21319 | $30604 | $21409 |
| **06/24** | $20813 | $31552 | $21048 |
| **07/24** | $22770 | $32138 | $23613 |
| **08/24** | $22503 | $32838 | $23170 |
| **09/24** | $22622 | $33517 | $23184 |
| **10/24** | $22562 | $33271 | $22822 |
| **11/24** | $24727 | $35484 | $25023 |
| **12/24** | $22667 | $34400 | $22938 |
| **01/25** | $23125 | $35486 | $23409 |
| **02/25** | $22091 | $34806 | $22513 |
| **03/25** | $20651 | $32775 | $21162 |
| **04/25** | $19838 | $32556 | $20312 |
| **05/25** | $20821 | $34619 | $21165 |
| **06/25** | $21824 | $36378 | $22213 |
| **07/25** | $22091 | $37179 | $22605 |
| **08/25** | $23903 | $38039 | $24520 |
| **09/25** | $24063 | $39352 | $25013 |
| **10/25** | $23743 | $40196 | $25075 |
| **11/25** | $24366 | $40306 | $25780 |
| **12/25** | $24401 | $40298 | $25827 |
| **01/26** | $25855 | $40923 | $27598 |
| **02/26** | $26572 | $40728 | $28130 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class R | 20.28 | 7.95 | 10.27 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell 2000<sup>®</sup> Value Index | 24.95 | 7.67 | 10.90 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $826343737 |
| **Total number of portfolio holdings** | 101 |
| **Management services fees (represents 0.85% of Fund average net assets)** | $7007299 |
| **Portfolio turnover for the reporting period** | 115% |

---

Columbia Small Cap Value and Inflection Fund \| Class R **\|** ASR230_12_(04/26) \|

## 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 | 19.7% |
| Industrials | 15.6% |
| Real Estate | 12.4% |
| Consumer Discretionary | 12.1% |
| Information Technology | 9.4% |
| Energy | 9.3% |
| Health Care | 7.0% |
| Materials | 6.0% |
| Consumer Staples | 4.1% |
| Utilities | 2.6% |
| Other | 0.9% |

---

### Top Holdings

---

| | |
|:---|:---|
| Phillips Edison & Co., Inc. | 2.1% |
| BankUnited, Inc. | 1.8% |
| California Resources Corp. | 1.8% |
| StoneX Group, Inc. | 1.7% |
| Essent Group Ltd. | 1.7% |
| Texas Capital Bancshares, Inc. | 1.7% |
| Fulton Financial Corp. | 1.6% |
| Polaris, Inc. | 1.6% |
| Amneal Pharmaceuticals, Inc. | 1.6% |
| Taylor Morrison Home Corp., Class A | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.1% |
| Other | 0.6% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Small Cap Value Fund II to Columbia Small Cap Value and Inflection Fund.

## 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](g250382g50k50.jpg)

Columbia Small Cap Value and Inflection Fund \| Class R **\|** ASR230_12_(04/26) \|

# Columbia Small Cap Value and Inflection Fund
Class S \| NSVBX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Value and Inflection Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $105 | 0.95% |

---

## Management's Discussion of Fund Performance
The performance of Class S shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, consumer staples and utilities sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the financials and utilities sectors and a larger allocation to the information technology sector buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in MP Materials, a rare earths company; Modine Manufacturing, an HVAC company; Dycom Industries, a telecom infrastructure contractor; Amkor Technology, a semiconductor packaging and testing company; and an overweight to Victoria's Secret, a specialty retailer, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, materials and communication services sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Smaller weightings in the communication services and energy sectors and a larger weighting in the consumer discretionary sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Lack of ownership of EchoStar, a telecom company; Hecla Mining, a precious metals miner; and Coeur Mining, a precious metals miner, were top detractors from the Fund's relative performance during the period. Positions in Alaska Air Group, an airline, and Cousins Properties, an office REIT, were also top detractors from the Fund's relative performance during the period.

Columbia Small Cap Value and Inflection Fund \| Class S **\|** ASR230_16_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g00v86.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Value and Inflection Fund Class S ($27353)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell 2000<sup>®</sup> Value Index ($28130)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10760 | $10704 | $10829 |
| **04/16** | $10832 | $10770 | $11058 |
| **05/16** | $10995 | $10963 | $11261 |
| **06/16** | $10987 | $10986 | $11295 |
| **07/16** | $11540 | $11422 | $11905 |
| **08/16** | $11698 | $11451 | $12200 |
| **09/16** | $11777 | $11469 | $12297 |
| **10/16** | $11325 | $11221 | $11892 |
| **11/16** | $12840 | $11723 | $13471 |
| **12/16** | $13198 | $11952 | $14027 |
| **01/17** | $13281 | $12176 | $13927 |
| **02/17** | $13498 | $12629 | $14129 |
| **03/17** | $13281 | $12638 | $14009 |
| **04/17** | $13363 | $12772 | $14064 |
| **05/17** | $13011 | $12903 | $13626 |
| **06/17** | $13372 | $13019 | $14103 |
| **07/17** | $13458 | $13264 | $14192 |
| **08/17** | $13269 | $13290 | $13843 |
| **09/17** | $14130 | $13614 | $14823 |
| **10/17** | $14241 | $13911 | $14843 |
| **11/17** | $14620 | $14334 | $15272 |
| **12/17** | $14601 | $14477 | $15127 |
| **01/18** | $14832 | $15240 | $15313 |
| **02/18** | $14098 | $14678 | $14547 |
| **03/18** | $14197 | $14384 | $14727 |
| **04/18** | $14370 | $14438 | $14983 |
| **05/18** | $14947 | $14846 | $15854 |
| **06/18** | $14841 | $14943 | $15950 |
| **07/18** | $15137 | $15439 | $16232 |
| **08/18** | $15576 | $15981 | $16618 |
| **09/18** | $15018 | $16008 | $16206 |
| **10/18** | $13565 | $14829 | $14755 |
| **11/18** | $13793 | $15126 | $14993 |
| **12/18** | $12018 | $13718 | $13181 |
| **01/19** | $13462 | $14896 | $14622 |
| **02/19** | $14077 | $15419 | $15191 |
| **03/19** | $13658 | $15645 | $14753 |
| **04/19** | $14245 | $16269 | $15311 |
| **05/19** | $13090 | $15216 | $14060 |
| **06/19** | $13910 | $16285 | $14956 |
| **07/19** | $13891 | $16527 | $14980 |
| **08/19** | $13102 | $16190 | $14144 |
| **09/19** | $13501 | $16475 | $14870 |
| **10/19** | $13720 | $16829 | $15230 |
| **11/19** | $14034 | $17469 | $15587 |
| **12/19** | $14465 | $17973 | $16132 |
| **01/20** | $13837 | $17954 | $15262 |
| **02/20** | $12446 | $16484 | $13779 |
| **03/20** | $9308 | $14217 | $10380 |
| **04/20** | $10776 | $16100 | $11660 |
| **05/20** | $11346 | $16961 | $11995 |
| **06/20** | $11401 | $17349 | $12342 |
| **07/20** | $11770 | $18334 | $12596 |
| **08/20** | $12362 | $19662 | $13275 |
| **09/20** | $11857 | $18946 | $12657 |
| **10/20** | $12274 | $18537 | $13110 |
| **11/20** | $14729 | $20792 | $15641 |
| **12/20** | $15889 | $21728 | $16880 |
| **01/21** | $16717 | $21631 | $17768 |
| **02/21** | $18352 | $22307 | $19437 |
| **03/21** | $19102 | $23107 | $20453 |
| **04/21** | $19764 | $24298 | $20867 |
| **05/21** | $20261 | $24409 | $21516 |
| **06/21** | $20139 | $25010 | $21386 |
| **07/21** | $19450 | $25433 | $20620 |
| **08/21** | $19916 | $26159 | $21173 |
| **09/21** | $19835 | $24985 | $20748 |
| **10/21** | $21184 | $26675 | $21539 |
| **11/21** | $20636 | $26269 | $20804 |
| **12/21** | $21244 | $27303 | $21652 |
| **01/22** | $20021 | $25697 | $20390 |
| **02/22** | $20544 | $25049 | $20727 |
| **03/22** | $20655 | $25862 | $21133 |
| **04/22** | $19021 | $23541 | $19493 |
| **05/22** | $19465 | $23509 | $19867 |
| **06/22** | $17529 | $21543 | $17904 |
| **07/22** | $19015 | $23564 | $19638 |
| **08/22** | $18428 | $22684 | $19017 |
| **09/22** | $16664 | $20581 | $17079 |
| **10/22** | $18566 | $22269 | $19229 |
| **11/22** | $19568 | $23431 | $19816 |
| **12/22** | $18304 | $22059 | $18516 |
| **01/23** | $19736 | $23578 | $20283 |
| **02/23** | $19523 | $23027 | $19815 |
| **03/23** | $18481 | $23643 | $18395 |
| **04/23** | $18387 | $23895 | $17936 |
| **05/23** | $17771 | $23988 | $17583 |
| **06/23** | $19223 | $25626 | $18980 |
| **07/23** | $20347 | $26544 | $20412 |
| **08/23** | $19516 | $26032 | $19430 |
| **09/23** | $18465 | $24792 | $18418 |
| **10/23** | $17488 | $24135 | $17319 |
| **11/23** | $18893 | $26385 | $18878 |
| **12/23** | $20820 | $27785 | $21228 |
| **01/24** | $19954 | $28093 | $20264 |
| **02/24** | $20807 | $29613 | $20927 |
| **03/24** | $21799 | $30569 | $21844 |
| **04/24** | $20794 | $29224 | $20452 |
| **05/24** | $21774 | $30604 | $21409 |
| **06/24** | $21256 | $31552 | $21048 |
| **07/24** | $23257 | $32138 | $23613 |
| **08/24** | $22980 | $32838 | $23170 |
| **09/24** | $23111 | $33517 | $23184 |
| **10/24** | $23071 | $33271 | $22822 |
| **11/24** | $25295 | $35484 | $25023 |
| **12/24** | $23185 | $34400 | $22938 |
| **01/25** | $23669 | $35486 | $23409 |
| **02/25** | $22637 | $34806 | $22513 |
| **03/25** | $21170 | $32775 | $21162 |
| **04/25** | $20331 | $32556 | $20312 |
| **05/25** | $21347 | $34619 | $21165 |
| **06/25** | $22400 | $36378 | $22213 |
| **07/25** | $22670 | $37179 | $22605 |
| **08/25** | $24540 | $38039 | $24520 |
| **09/25** | $24709 | $39352 | $25013 |
| **10/25** | $24389 | $40196 | $25075 |
| **11/25** | $25046 | $40306 | $25780 |
| **12/25** | $25097 | $40298 | $25827 |
| **01/26** | $26601 | $40923 | $27598 |
| **02/26** | $27353 | $40728 | $28130 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class S<sup>Footnote Reference(a)</sup> | 20.83 | 8.31 | 10.59 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell 2000<sup>®</sup> Value Index | 24.95 | 7.67 | 10.90 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(a)</sup> | &nbsp;&nbsp;The returns shown for periods prior to October 2, 2024 (including Since Fund Inception returns, if shown) include the returns of Class A. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $826343737 |
| **Total number of portfolio holdings** | 101 |
| **Management services fees (represents 0.85% of Fund average net assets)** | $7007299 |
| **Portfolio turnover for the reporting period** | 115% |

---

Columbia Small Cap Value and Inflection Fund \| Class S **\|** ASR230_16_(04/26) \|

## 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 | 19.7% |
| Industrials | 15.6% |
| Real Estate | 12.4% |
| Consumer Discretionary | 12.1% |
| Information Technology | 9.4% |
| Energy | 9.3% |
| Health Care | 7.0% |
| Materials | 6.0% |
| Consumer Staples | 4.1% |
| Utilities | 2.6% |
| Other | 0.9% |

---

### Top Holdings

---

| | |
|:---|:---|
| Phillips Edison & Co., Inc. | 2.1% |
| BankUnited, Inc. | 1.8% |
| California Resources Corp. | 1.8% |
| StoneX Group, Inc. | 1.7% |
| Essent Group Ltd. | 1.7% |
| Texas Capital Bancshares, Inc. | 1.7% |
| Fulton Financial Corp. | 1.6% |
| Polaris, Inc. | 1.6% |
| Amneal Pharmaceuticals, Inc. | 1.6% |
| Taylor Morrison Home Corp., Class A | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.1% |
| Other | 0.6% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Small Cap Value Fund II to Columbia Small Cap Value and Inflection Fund.

## 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](g250382g50k50.jpg)

Columbia Small Cap Value and Inflection Fund \| Class S **\|** ASR230_16_(04/26) \|

# Columbia Small Cap Value and Inflection Fund
Institutional 2 Class \| CRRRX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Value and Inflection Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $88 | 0.80% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, consumer staples and utilities sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the financials and utilities sectors and a larger allocation to the information technology sector buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in MP Materials, a rare earths company; Modine Manufacturing, an HVAC company; Dycom Industries, a telecom infrastructure contractor; Amkor Technology, a semiconductor packaging and testing company; and an overweight to Victoria's Secret, a specialty retailer, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, materials and communication services sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Smaller weightings in the communication services and energy sectors and a larger weighting in the consumer discretionary sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Lack of ownership of EchoStar, a telecom company; Hecla Mining, a precious metals miner; and Coeur Mining, a precious metals miner, were top detractors from the Fund's relative performance during the period. Positions in Alaska Air Group, an airline, and Cousins Properties, an office REIT, were also top detractors from the Fund's relative performance during the period.

Columbia Small Cap Value and Inflection Fund \| Institutional 2 Class **\|** ASR230_15_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g43p78.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Value and Inflection Fund Institutional 2 Class ($28356)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell 2000<sup>®</sup> Value Index ($28130)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10757 | $10704 | $10829 |
| **04/16** | $10833 | $10770 | $11058 |
| **05/16** | $11005 | $10963 | $11261 |
| **06/16** | $10997 | $10986 | $11295 |
| **07/16** | $11546 | $11422 | $11905 |
| **08/16** | $11713 | $11451 | $12200 |
| **09/16** | $11797 | $11469 | $12297 |
| **10/16** | $11345 | $11221 | $11892 |
| **11/16** | $12868 | $11723 | $13471 |
| **12/16** | $13237 | $11952 | $14027 |
| **01/17** | $13324 | $12176 | $13927 |
| **02/17** | $13542 | $12629 | $14129 |
| **03/17** | $13332 | $12638 | $14009 |
| **04/17** | $13419 | $12772 | $14064 |
| **05/17** | $13070 | $12903 | $13626 |
| **06/17** | $13434 | $13019 | $14103 |
| **07/17** | $13534 | $13264 | $14192 |
| **08/17** | $13342 | $13290 | $13843 |
| **09/17** | $14214 | $13614 | $14823 |
| **10/17** | $14329 | $13911 | $14843 |
| **11/17** | $14719 | $14334 | $15272 |
| **12/17** | $14701 | $14477 | $15127 |
| **01/18** | $14941 | $15240 | $15313 |
| **02/18** | $14206 | $14678 | $14547 |
| **03/18** | $14310 | $14384 | $14727 |
| **04/18** | $14486 | $14438 | $14983 |
| **05/18** | $15077 | $14846 | $15854 |
| **06/18** | $14966 | $14943 | $15950 |
| **07/18** | $15269 | $15439 | $16232 |
| **08/18** | $15719 | $15981 | $16618 |
| **09/18** | $15162 | $16008 | $16206 |
| **10/18** | $13705 | $14829 | $14755 |
| **11/18** | $13942 | $15126 | $14993 |
| **12/18** | $12153 | $13718 | $13181 |
| **01/19** | $13606 | $14896 | $14622 |
| **02/19** | $14237 | $15419 | $15191 |
| **03/19** | $13813 | $15645 | $14753 |
| **04/19** | $14418 | $16269 | $15311 |
| **05/19** | $13254 | $15216 | $14060 |
| **06/19** | $14093 | $16285 | $14956 |
| **07/19** | $14066 | $16527 | $14980 |
| **08/19** | $13274 | $16190 | $14144 |
| **09/19** | $13688 | $16475 | $14870 |
| **10/19** | $13918 | $16829 | $15230 |
| **11/19** | $14231 | $17469 | $15587 |
| **12/19** | $14678 | $17973 | $16132 |
| **01/20** | $14050 | $17954 | $15262 |
| **02/20** | $12635 | $16484 | $13779 |
| **03/20** | $9448 | $14217 | $10380 |
| **04/20** | $10957 | $16100 | $11660 |
| **05/20** | $11538 | $16961 | $11995 |
| **06/20** | $11592 | $17349 | $12342 |
| **07/20** | $11978 | $18334 | $12596 |
| **08/20** | $12590 | $19662 | $13275 |
| **09/20** | $12072 | $18946 | $12657 |
| **10/20** | $12505 | $18537 | $13110 |
| **11/20** | $15010 | $20792 | $15641 |
| **12/20** | $16195 | $21728 | $16880 |
| **01/21** | $17037 | $21631 | $17768 |
| **02/21** | $18723 | $22307 | $19437 |
| **03/21** | $19490 | $23107 | $20453 |
| **04/21** | $20172 | $24298 | $20867 |
| **05/21** | $20684 | $24409 | $21516 |
| **06/21** | $20575 | $25010 | $21386 |
| **07/21** | $19866 | $25433 | $20620 |
| **08/21** | $20349 | $26159 | $21173 |
| **09/21** | $20280 | $24985 | $20748 |
| **10/21** | $21668 | $26675 | $21539 |
| **11/21** | $21116 | $26269 | $20804 |
| **12/21** | $21736 | $27303 | $21652 |
| **01/22** | $20497 | $25697 | $20390 |
| **02/22** | $21047 | $25049 | $20727 |
| **03/22** | $21154 | $25862 | $21133 |
| **04/22** | $19495 | $23541 | $19493 |
| **05/22** | $19948 | $23509 | $19867 |
| **06/22** | $17973 | $21543 | $17904 |
| **07/22** | $19501 | $23564 | $19638 |
| **08/22** | $18910 | $22684 | $19017 |
| **09/22** | $17115 | $20581 | $17079 |
| **10/22** | $19066 | $22269 | $19229 |
| **11/22** | $20103 | $23431 | $19816 |
| **12/22** | $18796 | $22059 | $18516 |
| **01/23** | $20276 | $23578 | $20283 |
| **02/23** | $20069 | $23027 | $19815 |
| **03/23** | $19014 | $23643 | $18395 |
| **04/23** | $18922 | $23895 | $17936 |
| **05/23** | $18291 | $23988 | $17583 |
| **06/23** | $19791 | $25626 | $18980 |
| **07/23** | $20951 | $26544 | $20412 |
| **08/23** | $20111 | $26032 | $19430 |
| **09/23** | $19034 | $24792 | $18418 |
| **10/23** | $18029 | $24135 | $17319 |
| **11/23** | $19484 | $26385 | $18878 |
| **12/23** | $21478 | $27785 | $21228 |
| **01/24** | $20590 | $28093 | $20264 |
| **02/24** | $21478 | $29613 | $20927 |
| **03/24** | $22501 | $30569 | $21844 |
| **04/24** | $21478 | $29224 | $20452 |
| **05/24** | $22489 | $30604 | $21409 |
| **06/24** | $21964 | $31552 | $21048 |
| **07/24** | $24041 | $32138 | $23613 |
| **08/24** | $23774 | $32838 | $23170 |
| **09/24** | $23915 | $33517 | $23184 |
| **10/24** | $23859 | $33271 | $22822 |
| **11/24** | $26174 | $35484 | $25023 |
| **12/24** | $23995 | $34400 | $22938 |
| **01/25** | $24503 | $35486 | $23409 |
| **02/25** | $23422 | $34806 | $22513 |
| **03/25** | $21913 | $32775 | $21162 |
| **04/25** | $21055 | $32556 | $20312 |
| **05/25** | $22104 | $34619 | $21165 |
| **06/25** | $23188 | $36378 | $22213 |
| **07/25** | $23487 | $37179 | $22605 |
| **08/25** | $25426 | $38039 | $24520 |
| **09/25** | $25608 | $39352 | $25013 |
| **10/25** | $25277 | $40196 | $25075 |
| **11/25** | $25956 | $40306 | $25780 |
| **12/25** | $26001 | $40298 | $25827 |
| **01/26** | $27565 | $40923 | $27598 |
| **02/26** | $28356 | $40728 | $28130 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class | 21.07 | 8.66 | 10.99 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell 2000<sup>®</sup> Value Index | 24.95 | 7.67 | 10.90 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $826343737 |
| **Total number of portfolio holdings** | 101 |
| **Management services fees (represents 0.85% of Fund average net assets)** | $7007299 |
| **Portfolio turnover for the reporting period** | 115% |

---

Columbia Small Cap Value and Inflection Fund \| Institutional 2 Class **\|** ASR230_15_(04/26) \|

## 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 | 19.7% |
| Industrials | 15.6% |
| Real Estate | 12.4% |
| Consumer Discretionary | 12.1% |
| Information Technology | 9.4% |
| Energy | 9.3% |
| Health Care | 7.0% |
| Materials | 6.0% |
| Consumer Staples | 4.1% |
| Utilities | 2.6% |
| Other | 0.9% |

---

### Top Holdings

---

| | |
|:---|:---|
| Phillips Edison & Co., Inc. | 2.1% |
| BankUnited, Inc. | 1.8% |
| California Resources Corp. | 1.8% |
| StoneX Group, Inc. | 1.7% |
| Essent Group Ltd. | 1.7% |
| Texas Capital Bancshares, Inc. | 1.7% |
| Fulton Financial Corp. | 1.6% |
| Polaris, Inc. | 1.6% |
| Amneal Pharmaceuticals, Inc. | 1.6% |
| Taylor Morrison Home Corp., Class A | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.1% |
| Other | 0.6% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Small Cap Value Fund II to Columbia Small Cap Value and Inflection Fund.

## 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](g250382g50k50.jpg)

Columbia Small Cap Value and Inflection Fund \| Institutional 2 Class **\|** ASR230_15_(04/26) \|

# Columbia Small Cap Value and Inflection Fund
Institutional 3 Class \| CRRYX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Value and Inflection Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $84 | 0.76% |

---

## Management's Discussion of Fund Performance
The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, consumer staples and utilities sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the financials and utilities sectors and a larger allocation to the information technology sector buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in MP Materials, a rare earths company; Modine Manufacturing, an HVAC company; Dycom Industries, a telecom infrastructure contractor; Amkor Technology, a semiconductor packaging and testing company; and an overweight to Victoria's Secret, a specialty retailer, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, materials and communication services sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Smaller weightings in the communication services and energy sectors and a larger weighting in the consumer discretionary sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Lack of ownership of EchoStar, a telecom company; Hecla Mining, a precious metals miner; and Coeur Mining, a precious metals miner, were top detractors from the Fund's relative performance during the period. Positions in Alaska Air Group, an airline, and Cousins Properties, an office REIT, were also top detractors from the Fund's relative performance during the period.

Columbia Small Cap Value and Inflection Fund \| Institutional 3 Class **\|** ASR230_17_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g83i56.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Value and Inflection Fund Institutional 3 Class ($28492)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell 2000<sup>®</sup> Value Index ($28130)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10762 | $10704 | $10829 |
| **04/16** | $10838 | $10770 | $11058 |
| **05/16** | $11010 | $10963 | $11261 |
| **06/16** | $11002 | $10986 | $11295 |
| **07/16** | $11558 | $11422 | $11905 |
| **08/16** | $11724 | $11451 | $12200 |
| **09/16** | $11808 | $11469 | $12297 |
| **10/16** | $11356 | $11221 | $11892 |
| **11/16** | $12877 | $11723 | $13471 |
| **12/16** | $13243 | $11952 | $14027 |
| **01/17** | $13338 | $12176 | $13927 |
| **02/17** | $13555 | $12629 | $14129 |
| **03/17** | $13345 | $12638 | $14009 |
| **04/17** | $13432 | $12772 | $14064 |
| **05/17** | $13084 | $12903 | $13626 |
| **06/17** | $13447 | $13019 | $14103 |
| **07/17** | $13547 | $13264 | $14192 |
| **08/17** | $13363 | $13290 | $13843 |
| **09/17** | $14234 | $13614 | $14823 |
| **10/17** | $14348 | $13911 | $14843 |
| **11/17** | $14738 | $14334 | $15272 |
| **12/17** | $14726 | $14477 | $15127 |
| **01/18** | $14965 | $15240 | $15313 |
| **02/18** | $14231 | $14678 | $14547 |
| **03/18** | $14335 | $14384 | $14727 |
| **04/18** | $14510 | $14438 | $14983 |
| **05/18** | $15101 | $14846 | $15854 |
| **06/18** | $14998 | $14943 | $15950 |
| **07/18** | $15300 | $15439 | $16232 |
| **08/18** | $15750 | $15981 | $16618 |
| **09/18** | $15194 | $16008 | $16206 |
| **10/18** | $13731 | $14829 | $14755 |
| **11/18** | $13968 | $15126 | $14993 |
| **12/18** | $12180 | $13718 | $13181 |
| **01/19** | $13639 | $14896 | $14622 |
| **02/19** | $14270 | $15419 | $15191 |
| **03/19** | $13846 | $15645 | $14753 |
| **04/19** | $14450 | $16269 | $15311 |
| **05/19** | $13288 | $15216 | $14060 |
| **06/19** | $14118 | $16285 | $14956 |
| **07/19** | $14099 | $16527 | $14980 |
| **08/19** | $13309 | $16190 | $14144 |
| **09/19** | $13722 | $16475 | $14870 |
| **10/19** | $13952 | $16829 | $15230 |
| **11/19** | $14274 | $17469 | $15587 |
| **12/19** | $14717 | $17973 | $16132 |
| **01/20** | $14080 | $17954 | $15262 |
| **02/20** | $12667 | $16484 | $13779 |
| **03/20** | $9474 | $14217 | $10380 |
| **04/20** | $10981 | $16100 | $11660 |
| **05/20** | $11562 | $16961 | $11995 |
| **06/20** | $11625 | $17349 | $12342 |
| **07/20** | $12001 | $18334 | $12596 |
| **08/20** | $12622 | $19662 | $13275 |
| **09/20** | $12105 | $18946 | $12657 |
| **10/20** | $12537 | $18537 | $13110 |
| **11/20** | $15048 | $20792 | $15641 |
| **12/20** | $16237 | $21728 | $16880 |
| **01/21** | $17088 | $21631 | $17768 |
| **02/21** | $18772 | $22307 | $19437 |
| **03/21** | $19548 | $23107 | $20453 |
| **04/21** | $20230 | $24298 | $20867 |
| **05/21** | $20741 | $24409 | $21516 |
| **06/21** | $20632 | $25010 | $21386 |
| **07/21** | $19924 | $25433 | $20620 |
| **08/21** | $20416 | $26159 | $21173 |
| **09/21** | $20337 | $24985 | $20748 |
| **10/21** | $21734 | $26675 | $21539 |
| **11/21** | $21173 | $26269 | $20804 |
| **12/21** | $21811 | $27303 | $21652 |
| **01/22** | $20562 | $25697 | $20390 |
| **02/22** | $21111 | $25049 | $20727 |
| **03/22** | $21229 | $25862 | $21133 |
| **04/22** | $19550 | $23541 | $19493 |
| **05/22** | $20013 | $23509 | $19867 |
| **06/22** | $18030 | $21543 | $17904 |
| **07/22** | $19567 | $23564 | $19638 |
| **08/22** | $18976 | $22684 | $19017 |
| **09/22** | $17172 | $20581 | $17079 |
| **10/22** | $19132 | $22269 | $19229 |
| **11/22** | $20168 | $23431 | $19816 |
| **12/22** | $18871 | $22059 | $18516 |
| **01/23** | $20350 | $23578 | $20283 |
| **02/23** | $20143 | $23027 | $19815 |
| **03/23** | $19077 | $23643 | $18395 |
| **04/23** | $18985 | $23895 | $17936 |
| **05/23** | $18366 | $23988 | $17583 |
| **06/23** | $19855 | $25626 | $18980 |
| **07/23** | $21025 | $26544 | $20412 |
| **08/23** | $20186 | $26032 | $19430 |
| **09/23** | $19099 | $24792 | $18418 |
| **10/23** | $18094 | $24135 | $17319 |
| **11/23** | $19560 | $26385 | $18878 |
| **12/23** | $21561 | $27785 | $21228 |
| **01/24** | $20674 | $28093 | $20264 |
| **02/24** | $21561 | $29613 | $20927 |
| **03/24** | $22596 | $30569 | $21844 |
| **04/24** | $21573 | $29224 | $20452 |
| **05/24** | $22583 | $30604 | $21409 |
| **06/24** | $22060 | $31552 | $21048 |
| **07/24** | $24149 | $32138 | $23613 |
| **08/24** | $23868 | $32838 | $23170 |
| **09/24** | $24009 | $33517 | $23184 |
| **10/24** | $23967 | $33271 | $22822 |
| **11/24** | $26279 | $35484 | $25023 |
| **12/24** | $24097 | $34400 | $22938 |
| **01/25** | $24604 | $35486 | $23409 |
| **02/25** | $23526 | $34806 | $22513 |
| **03/25** | $22003 | $32775 | $21162 |
| **04/25** | $21146 | $32556 | $20312 |
| **05/25** | $22209 | $34619 | $21165 |
| **06/25** | $23308 | $36378 | $22213 |
| **07/25** | $23589 | $37179 | $22605 |
| **08/25** | $25541 | $38039 | $24520 |
| **09/25** | $25723 | $39352 | $25013 |
| **10/25** | $25393 | $40196 | $25075 |
| **11/25** | $26087 | $40306 | $25780 |
| **12/25** | $26123 | $40298 | $25827 |
| **01/26** | $27702 | $40923 | $27598 |
| **02/26** | $28492 | $40728 | $28130 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class | 21.11 | 8.70 | 11.04 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell 2000<sup>®</sup> Value Index | 24.95 | 7.67 | 10.90 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $826343737 |
| **Total number of portfolio holdings** | 101 |
| **Management services fees (represents 0.85% of Fund average net assets)** | $7007299 |
| **Portfolio turnover for the reporting period** | 115% |

---

Columbia Small Cap Value and Inflection Fund \| Institutional 3 Class **\|** ASR230_17_(04/26) \|

## 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 | 19.7% |
| Industrials | 15.6% |
| Real Estate | 12.4% |
| Consumer Discretionary | 12.1% |
| Information Technology | 9.4% |
| Energy | 9.3% |
| Health Care | 7.0% |
| Materials | 6.0% |
| Consumer Staples | 4.1% |
| Utilities | 2.6% |
| Other | 0.9% |

---

### Top Holdings

---

| | |
|:---|:---|
| Phillips Edison & Co., Inc. | 2.1% |
| BankUnited, Inc. | 1.8% |
| California Resources Corp. | 1.8% |
| StoneX Group, Inc. | 1.7% |
| Essent Group Ltd. | 1.7% |
| Texas Capital Bancshares, Inc. | 1.7% |
| Fulton Financial Corp. | 1.6% |
| Polaris, Inc. | 1.6% |
| Amneal Pharmaceuticals, Inc. | 1.6% |
| Taylor Morrison Home Corp., Class A | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.1% |
| Other | 0.6% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Small Cap Value Fund II to Columbia Small Cap Value and Inflection Fund.

## 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](g250382g50k50.jpg)

Columbia Small Cap Value and Inflection Fund \| Institutional 3 Class **\|** ASR230_17_(04/26) \|

# Columbia Small Cap Value and Inflection Fund
Institutional Class \| NSVAX

![Image](g250382g57x32.jpg)

## Annual Shareholder Report \| February 28, 2026
This annual shareholder report contains important information about Columbia Small Cap Value and Inflection Fund (the Fund) for the period of March 1, 2025 to February 28, 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.

#### This report describes changes to the Fund that occurred during the reporting period.

## 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 | $105 | 0.95% |

---

## Management's Discussion of Fund Performance
The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

### Top Performance Contributors
**Stock selection \|** Selections in the financials, consumer staples and utilities sectors boosted the Fund's relative performance during the annual period.

**Allocations \|** Smaller allocations to the financials and utilities sectors and a larger allocation to the information technology sector buoyed the Fund's relative performance during the annual period.

**Individual holdings \|** Positions in MP Materials, a rare earths company; Modine Manufacturing, an HVAC company; Dycom Industries, a telecom infrastructure contractor; Amkor Technology, a semiconductor packaging and testing company; and an overweight to Victoria's Secret, a specialty retailer, were top contributors to the Fund's relative performance during the period.

### Top Performance Detractors
**Stock selection \|** Selections in the health care, materials and communication services sectors hurt the Fund's relative performance during the annual period.

**Allocations \|** Smaller weightings in the communication services and energy sectors and a larger weighting in the consumer discretionary sector detracted from the Fund's relative performance during the annual period.

**Individual holdings \|** Lack of ownership of EchoStar, a telecom company; Hecla Mining, a precious metals miner; and Coeur Mining, a precious metals miner, were top detractors from the Fund's relative performance during the period. Positions in Alaska Air Group, an airline, and Cousins Properties, an office REIT, were also top detractors from the Fund's relative performance during the period.

Columbia Small Cap Value and Inflection Fund \| Institutional Class **\|** ASR230_08_(04/26) \|

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

### Growth of $10,000
![Growth of 10K Chart](g250382g77z43.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Columbia Small Cap Value and Inflection Fund Institutional Class ($27929)** | **Russell 3000<sup>®</sup> Index ($40728)** | **Russell 2000<sup>®</sup> Value Index ($28130)** |
| **02/16** | $10000 | $10000 | $10000 |
| **03/16** | $10758 | $10704 | $10829 |
| **04/16** | $10828 | $10770 | $11058 |
| **05/16** | $10996 | $10963 | $11261 |
| **06/16** | $10986 | $10986 | $11295 |
| **07/16** | $11546 | $11422 | $11905 |
| **08/16** | $11709 | $11451 | $12200 |
| **09/16** | $11787 | $11469 | $12297 |
| **10/16** | $11333 | $11221 | $11892 |
| **11/16** | $12858 | $11723 | $13471 |
| **12/16** | $13214 | $11952 | $14027 |
| **01/17** | $13303 | $12176 | $13927 |
| **02/17** | $13526 | $12629 | $14129 |
| **03/17** | $13311 | $12638 | $14009 |
| **04/17** | $13400 | $12772 | $14064 |
| **05/17** | $13044 | $12903 | $13626 |
| **06/17** | $13408 | $13019 | $14103 |
| **07/17** | $13502 | $13264 | $14192 |
| **08/17** | $13314 | $13290 | $13843 |
| **09/17** | $14181 | $13614 | $14823 |
| **10/17** | $14290 | $13911 | $14843 |
| **11/17** | $14681 | $14334 | $15272 |
| **12/17** | $14660 | $14477 | $15127 |
| **01/18** | $14897 | $15240 | $15313 |
| **02/18** | $14163 | $14678 | $14547 |
| **03/18** | $14261 | $14384 | $14727 |
| **04/18** | $14440 | $14438 | $14983 |
| **05/18** | $15027 | $14846 | $15854 |
| **06/18** | $14914 | $14943 | $15950 |
| **07/18** | $15215 | $15439 | $16232 |
| **08/18** | $15666 | $15981 | $16618 |
| **09/18** | $15106 | $16008 | $16206 |
| **10/18** | $13651 | $14829 | $14755 |
| **11/18** | $13885 | $15126 | $14993 |
| **12/18** | $12100 | $13718 | $13181 |
| **01/19** | $13548 | $14896 | $14622 |
| **02/19** | $14176 | $15419 | $15191 |
| **03/19** | $13751 | $15645 | $14753 |
| **04/19** | $14351 | $16269 | $15311 |
| **05/19** | $13189 | $15216 | $14060 |
| **06/19** | $14016 | $16285 | $14956 |
| **07/19** | $13997 | $16527 | $14980 |
| **08/19** | $13206 | $16190 | $14144 |
| **09/19** | $13620 | $16475 | $14870 |
| **10/19** | $13837 | $16829 | $15230 |
| **11/19** | $14157 | $17469 | $15587 |
| **12/19** | $14595 | $17973 | $16132 |
| **01/20** | $13963 | $17954 | $15262 |
| **02/20** | $12565 | $16484 | $13779 |
| **03/20** | $9395 | $14217 | $10380 |
| **04/20** | $10889 | $16100 | $11660 |
| **05/20** | $11464 | $16961 | $11995 |
| **06/20** | $11518 | $17349 | $12342 |
| **07/20** | $11894 | $18334 | $12596 |
| **08/20** | $12500 | $19662 | $13275 |
| **09/20** | $11980 | $18946 | $12657 |
| **10/20** | $12413 | $18537 | $13110 |
| **11/20** | $14896 | $20792 | $15641 |
| **12/20** | $16072 | $21728 | $16880 |
| **01/21** | $16913 | $21631 | $17768 |
| **02/21** | $18577 | $22307 | $19437 |
| **03/21** | $19340 | $23107 | $20453 |
| **04/21** | $20008 | $24298 | $20867 |
| **05/21** | $20520 | $24409 | $21516 |
| **06/21** | $20410 | $25010 | $21386 |
| **07/21** | $19705 | $25433 | $20620 |
| **08/21** | $20178 | $26159 | $21173 |
| **09/21** | $20108 | $24985 | $20748 |
| **10/21** | $21486 | $26675 | $21539 |
| **11/21** | $20923 | $26269 | $20804 |
| **12/21** | $21550 | $27303 | $21652 |
| **01/22** | $20314 | $25697 | $20390 |
| **02/22** | $20855 | $25049 | $20727 |
| **03/22** | $20966 | $25862 | $21133 |
| **04/22** | $19310 | $23541 | $19493 |
| **05/22** | $19763 | $23509 | $19867 |
| **06/22** | $17796 | $21543 | $17904 |
| **07/22** | $19316 | $23564 | $19638 |
| **08/22** | $18722 | $22684 | $19017 |
| **09/22** | $16939 | $20581 | $17079 |
| **10/22** | $18870 | $22269 | $19229 |
| **11/22** | $19888 | $23431 | $19816 |
| **12/22** | $18605 | $22059 | $18516 |
| **01/23** | $20064 | $23578 | $20283 |
| **02/23** | $19852 | $23027 | $19815 |
| **03/23** | $18805 | $23643 | $18395 |
| **04/23** | $18723 | $23895 | $17936 |
| **05/23** | $18100 | $23988 | $17583 |
| **06/23** | $19574 | $25626 | $18980 |
| **07/23** | $20715 | $26544 | $20412 |
| **08/23** | $19890 | $26032 | $19430 |
| **09/23** | $18810 | $24792 | $18418 |
| **10/23** | $17827 | $24135 | $17319 |
| **11/23** | $19259 | $26385 | $18878 |
| **12/23** | $21229 | $27785 | $21228 |
| **01/24** | $20343 | $28093 | $20264 |
| **02/24** | $21216 | $29613 | $20927 |
| **03/24** | $22241 | $30569 | $21844 |
| **04/24** | $21216 | $29224 | $20452 |
| **05/24** | $22216 | $30604 | $21409 |
| **06/24** | $21697 | $31552 | $21048 |
| **07/24** | $23738 | $32138 | $23613 |
| **08/24** | $23463 | $32838 | $23170 |
| **09/24** | $23607 | $33517 | $23184 |
| **10/24** | $23550 | $33271 | $22822 |
| **11/24** | $25822 | $35484 | $25023 |
| **12/24** | $23675 | $34400 | $22938 |
| **01/25** | $24169 | $35486 | $23409 |
| **02/25** | $23116 | $34806 | $22513 |
| **03/25** | $21617 | $32775 | $21162 |
| **04/25** | $20761 | $32556 | $20312 |
| **05/25** | $21798 | $34619 | $21165 |
| **06/25** | $22873 | $36378 | $22213 |
| **07/25** | $23149 | $37179 | $22605 |
| **08/25** | $25059 | $38039 | $24520 |
| **09/25** | $25231 | $39352 | $25013 |
| **10/25** | $24904 | $40196 | $25075 |
| **11/25** | $25576 | $40306 | $25780 |
| **12/25** | $25626 | $40298 | $25827 |
| **01/26** | $27161 | $40923 | $27598 |
| **02/26** | $27929 | $40728 | $28130 |

---

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class | 20.82 | 8.50 | 10.82 |
| Russell 3000<sup>®</sup> Index | 17.02 | 12.80 | 15.08 |
| Russell 2000<sup>®</sup> Value Index | 24.95 | 7.67 | 10.90 |

---

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

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $826343737 |
| **Total number of portfolio holdings** | 101 |
| **Management services fees (represents 0.85% of Fund average net assets)** | $7007299 |
| **Portfolio turnover for the reporting period** | 115% |

---

Columbia Small Cap Value and Inflection Fund \| Institutional Class **\|** ASR230_08_(04/26) \|

## 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 | 19.7% |
| Industrials | 15.6% |
| Real Estate | 12.4% |
| Consumer Discretionary | 12.1% |
| Information Technology | 9.4% |
| Energy | 9.3% |
| Health Care | 7.0% |
| Materials | 6.0% |
| Consumer Staples | 4.1% |
| Utilities | 2.6% |
| Other | 0.9% |

---

### Top Holdings

---

| | |
|:---|:---|
| Phillips Edison & Co., Inc. | 2.1% |
| BankUnited, Inc. | 1.8% |
| California Resources Corp. | 1.8% |
| StoneX Group, Inc. | 1.7% |
| Essent Group Ltd. | 1.7% |
| Texas Capital Bancshares, Inc. | 1.7% |
| Fulton Financial Corp. | 1.6% |
| Polaris, Inc. | 1.6% |
| Amneal Pharmaceuticals, Inc. | 1.6% |
| Taylor Morrison Home Corp., Class A | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 99.1% |
| Other | 0.6% |

---

## Certain Fund Changes
This is a summary of the changes to the Fund. For more complete information, you may review the Fund's prospectus, which is available at columbiathreadneedleus.com/resources/literature or upon request at 1-800-345-6611.

Effective September 1, 2025, the Fund's name was changed from Columbia Small Cap Value Fund II to Columbia Small Cap Value and Inflection Fund.

## 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](g250382g50k50.jpg)

Columbia Small Cap Value and Inflection Fund \| Institutional Class **\|** ASR230_08_(04/26) \|

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

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

#### Item 4. Principal Accountant Fees and Services.
The registrant has engaged its principal accountant to perform audit services, audit-related services, tax services and other services during the past two fiscal years. The following table details the aggregate fees billed or expected to be billed for each of the last two fiscal years for the series of the relevant registrant whose reports to shareholders are included in this annual filing.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Amount billed to the<br>registrant ($)** | **Amount billed to the<br>registrant ($)** | **Amount billed to the<br>registrant's investment<br>advisor ($)** | **Amount billed to the<br>registrant's investment<br>advisor ($)** |
|  | **February 28,<br>2026** | **February 28,<br>2025** | **February 28,<br>2026** | **February 28,<br>2025** |
|  Audit fees <sup>(a)</sup> | 328240 | 315230 | 0 | 0 |
|  Audit-related fees <sup>(b)</sup> | 0 | 0 | 0 | 0 |
|  Tax fees <sup>(c)</sup> | 160468 | 153089 | 0 | 0 |
|  All other fees <sup>(d)</sup> | 0 | 0 | 0 | 0 |
|  Non-audit fees <sup>(g)</sup> | 0 | 0 | 392000 | 474000 |

---

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

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

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

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

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

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

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

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

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

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

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

------

(f) Not applicable.

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

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

(i) Not applicable.

(j) Not applicable.

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

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

(b) Not applicable.

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

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![](g250382imgfd4db6871.jpg)

Columbia Convertible Securities Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_6c451dec-6578-46b4-9d88-237fd90d13ad_POI-CommonContent-Date-54_1) | 3 |
| [Statement of Assets and Liabilities](#xx_6c451dec-6578-46b4-9d88-237fd90d13ad_FS-CommonContent-Date-54_1) | 9 |
| [Statement of Operations](#xx_6c451dec-6578-46b4-9d88-237fd90d13ad_FS-CommonContent-Date-54_2) | 10 |
| [Statement of Changes in Net Assets](#xx_6c451dec-6578-46b4-9d88-237fd90d13ad_FS-CommonContent-Date-54_3) | 11 |
| [Financial Highlights](#xx_6c451dec-6578-46b4-9d88-237fd90d13ad_FIHI-CommonContent-Date-54_2) | 14 |
| [Notes to Financial Statements](#xx_6c451dec-6578-46b4-9d88-237fd90d13ad_NTF-CommonContent-Date-54_1) | 18 |
| [Report of Independent Registered Public Accounting Firm](#xx_6c451dec-6578-46b4-9d88-237fd90d13ad_AUD-CommonContent-Date-54_1) | 27 |
| [Federal Income Tax Information](#xx_6c451dec-6578-46b4-9d88-237fd90d13ad_CCH-CommonContent-Date-54_1) | 28 |

---

Columbia Convertible Securities Fund \| 2026

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Portfolio of Investments

February 28, 2026

(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 1.8%** | **Common Stocks 1.8%** | **Common Stocks 1.8%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Information Technology 0.7%** | **Information Technology 0.7%** | **Information Technology 0.7%** |
| **Electronic Equipment, Instruments & Components 0.7%** | **Electronic Equipment, Instruments & Components 0.7%** | **Electronic Equipment, Instruments & Components 0.7%** |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 11232000 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **11232000** |
| **Real Estate 0.6%** | **Real Estate 0.6%** | **Real Estate 0.6%** |
| **Specialized REITs 0.6%** | **Specialized REITs 0.6%** | **Specialized REITs 0.6%** |
| Digital Realty Trust, Inc. | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 8860000 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **8860000** |
| **Utilities 0.5%** | **Utilities 0.5%** | **Utilities 0.5%** |
| **Multi-Utilities 0.5%** | **Multi-Utilities 0.5%** | **Multi-Utilities 0.5%** |
| CenterPoint Energy, Inc. | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 8700000 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **8700000** |
| Total Common Stocks <br>(Cost $24,461,137) | Total Common Stocks <br>(Cost $24,461,137) | &nbsp;&nbsp; **28792000** |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Bonds 78.2%** | **Convertible Bonds 78.2%** | **Convertible Bonds 78.2%** | **Convertible Bonds 78.2%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Aerospace & Defense 2.3%** | **Aerospace & Defense 2.3%** | **Aerospace & Defense 2.3%** | **Aerospace & Defense 2.3%** |
| AeroVironment, Inc.<sup>(a)</sup>  | AeroVironment, Inc.<sup>(a)</sup>  | AeroVironment, Inc.<sup>(a)</sup>  | AeroVironment, Inc.<sup>(a)</sup>  |
| 07/15/2030 | &nbsp;&nbsp; 0.000% | 11000000 | &nbsp;&nbsp; 12595000 |
| Astronics Corp.<sup>(a),(b)</sup>  | Astronics Corp.<sup>(a),(b)</sup>  | Astronics Corp.<sup>(a),(b)</sup>  | Astronics Corp.<sup>(a),(b)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 0.000% | 6500000 | &nbsp;&nbsp; 10439000 |
| Intuitive Machines, Inc.<sup>(b)</sup>  | Intuitive Machines, Inc.<sup>(b)</sup>  | Intuitive Machines, Inc.<sup>(b)</sup>  | Intuitive Machines, Inc.<sup>(b)</sup>  |
| 10/01/2030 | &nbsp;&nbsp; 2.500% | 4500000 | &nbsp;&nbsp; 7297200 |
| Rocket Lab USA, Inc.<sup>(b)</sup>  | Rocket Lab USA, Inc.<sup>(b)</sup>  | Rocket Lab USA, Inc.<sup>(b)</sup>  | Rocket Lab USA, Inc.<sup>(b)</sup>  |
| 02/01/2029 | &nbsp;&nbsp; 4.250% | 500000 | &nbsp;&nbsp; 6729375 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **37060575** |
| **Automotive 1.0%** | **Automotive 1.0%** | **Automotive 1.0%** | **Automotive 1.0%** |
| Rivian Automotive, Inc. | Rivian Automotive, Inc. | Rivian Automotive, Inc. | Rivian Automotive, Inc. |
| 10/15/2030 | &nbsp;&nbsp; 3.625% | 16250000 | &nbsp;&nbsp; 15925561 |
| **Banking 0.8%** | **Banking 0.8%** | **Banking 0.8%** | **Banking 0.8%** |
| Barclays Bank PLC | Barclays Bank PLC | Barclays Bank PLC | Barclays Bank PLC |
| 02/16/2029 | &nbsp;&nbsp; 1.000% | 12000000 | &nbsp;&nbsp; 12319416 |
| **Brokerage/Asset Managers/Exchanges 1.6%** | **Brokerage/Asset Managers/Exchanges 1.6%** | **Brokerage/Asset Managers/Exchanges 1.6%** | **Brokerage/Asset Managers/Exchanges 1.6%** |
| Galaxy Digital Holdings LP<sup>(b)</sup>  | Galaxy Digital Holdings LP<sup>(b)</sup>  | Galaxy Digital Holdings LP<sup>(b)</sup>  | Galaxy Digital Holdings LP<sup>(b)</sup>  |
| 12/01/2029 | &nbsp;&nbsp; 2.500% | 8500000 | &nbsp;&nbsp; 10354800 |
| WisdomTree, Inc.<sup>(b)</sup>  | WisdomTree, Inc.<sup>(b)</sup>  | WisdomTree, Inc.<sup>(b)</sup>  | WisdomTree, Inc.<sup>(b)</sup>  |
| 08/15/2030 | &nbsp;&nbsp; 4.625% | 12000000 | &nbsp;&nbsp; 14220000 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **24574800** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Cable and Satellite 0.5%** | **Cable and Satellite 0.5%** | **Cable and Satellite 0.5%** | **Cable and Satellite 0.5%** |
| BlackSky Technology, Inc.<sup>(b)</sup>  | BlackSky Technology, Inc.<sup>(b)</sup>  | BlackSky Technology, Inc.<sup>(b)</sup>  | BlackSky Technology, Inc.<sup>(b)</sup>  |
| 08/01/2033 | &nbsp;&nbsp; 8.250% | 7000000 | &nbsp;&nbsp; 7722455 |
| **Consumer Cyclical Services 2.6%** | **Consumer Cyclical Services 2.6%** | **Consumer Cyclical Services 2.6%** | **Consumer Cyclical Services 2.6%** |
| DoorDash, Inc.<sup>(a),(b)</sup>  | DoorDash, Inc.<sup>(a),(b)</sup>  | DoorDash, Inc.<sup>(a),(b)</sup>  | DoorDash, Inc.<sup>(a),(b)</sup>  |
| 05/15/2030 | &nbsp;&nbsp; 0.000% | 10000000 | &nbsp;&nbsp; 9657629 |
| Trip.com Group Ltd. | Trip.com Group Ltd. | Trip.com Group Ltd. | Trip.com Group Ltd. |
| 06/15/2029 | &nbsp;&nbsp; 0.750% | 12000000 | &nbsp;&nbsp; 12672000 |
| Uber Technologies, Inc.<sup>(a),(b)</sup>  | Uber Technologies, Inc.<sup>(a),(b)</sup>  | Uber Technologies, Inc.<sup>(a),(b)</sup>  | Uber Technologies, Inc.<sup>(a),(b)</sup>  |
| 05/15/2028 | &nbsp;&nbsp; 0.000% | 8020000 | &nbsp;&nbsp; 8164360 |
| Uber Technologies, Inc. | Uber Technologies, Inc. | Uber Technologies, Inc. | Uber Technologies, Inc. |
| 12/01/2028 | &nbsp;&nbsp; 0.875% | 9000000 | &nbsp;&nbsp; 11119500 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **41613489** |
| **Consumer Products 0.5%** | **Consumer Products 0.5%** | **Consumer Products 0.5%** | **Consumer Products 0.5%** |
| LCI Industries<sup>(b)</sup>  | LCI Industries<sup>(b)</sup>  | LCI Industries<sup>(b)</sup>  | LCI Industries<sup>(b)</sup>  |
| 03/01/2030 | &nbsp;&nbsp; 3.000% | 6000000 | &nbsp;&nbsp; 7611000 |
| **Diversified Manufacturing 5.1%** | **Diversified Manufacturing 5.1%** | **Diversified Manufacturing 5.1%** | **Diversified Manufacturing 5.1%** |
| Advanced Energy Industries, Inc. | Advanced Energy Industries, Inc. | Advanced Energy Industries, Inc. | Advanced Energy Industries, Inc. |
| 09/15/2028 | &nbsp;&nbsp; 2.500% | 4500000 | &nbsp;&nbsp; 11162250 |
| Bloom Energy Corp.<sup>(a),(b)</sup>  | Bloom Energy Corp.<sup>(a),(b)</sup>  | Bloom Energy Corp.<sup>(a),(b)</sup>  | Bloom Energy Corp.<sup>(a),(b)</sup>  |
| 11/15/2030 | &nbsp;&nbsp; 0.000% | 35000000 | &nbsp;&nbsp; 41125000 |
| BWX Technologies, Inc.<sup>(a),(b)</sup>  | BWX Technologies, Inc.<sup>(a),(b)</sup>  | BWX Technologies, Inc.<sup>(a),(b)</sup>  | BWX Technologies, Inc.<sup>(a),(b)</sup>  |
| 11/01/2030 | &nbsp;&nbsp; 0.000% | 16000000 | &nbsp;&nbsp; 16688000 |
| JBT Marel Corp.<sup>(b)</sup>  | JBT Marel Corp.<sup>(b)</sup>  | JBT Marel Corp.<sup>(b)</sup>  | JBT Marel Corp.<sup>(b)</sup>  |
| 09/15/2030 | &nbsp;&nbsp; 0.375% | 11000000 | &nbsp;&nbsp; 11687500 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **80662750** |
| **Electric 4.0%** | **Electric 4.0%** | **Electric 4.0%** | **Electric 4.0%** |
| Alliant Energy Corp.<sup>(b)</sup>  | Alliant Energy Corp.<sup>(b)</sup>  | Alliant Energy Corp.<sup>(b)</sup>  | Alliant Energy Corp.<sup>(b)</sup>  |
| 05/30/2028 | &nbsp;&nbsp; 3.250% | 12000000 | &nbsp;&nbsp; 12818057 |
| CMS Energy Corp. | CMS Energy Corp. | CMS Energy Corp. | CMS Energy Corp. |
| 05/01/2028 | &nbsp;&nbsp; 3.375% | 11500000 | &nbsp;&nbsp; 13069750 |
| FirstEnergy Corp.<sup>(b)</sup>  | FirstEnergy Corp.<sup>(b)</sup>  | FirstEnergy Corp.<sup>(b)</sup>  | FirstEnergy Corp.<sup>(b)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 3.875% | 11000000 | &nbsp;&nbsp; 12804000 |
| PPL Capital Funding, Inc.<sup>(b)</sup>  | PPL Capital Funding, Inc.<sup>(b)</sup>  | PPL Capital Funding, Inc.<sup>(b)</sup>  | PPL Capital Funding, Inc.<sup>(b)</sup>  |
| 12/01/2030 | &nbsp;&nbsp; 3.000% | 12000000 | &nbsp;&nbsp; 12564000 |
| WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. |
| 06/01/2029 | &nbsp;&nbsp; 4.375% | 10000000 | &nbsp;&nbsp; 12495000 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **63750807** |
| **Finance Companies 1.1%** | **Finance Companies 1.1%** | **Finance Companies 1.1%** | **Finance Companies 1.1%** |
| Hercules Capital, Inc.<sup>(b)</sup>  | Hercules Capital, Inc.<sup>(b)</sup>  | Hercules Capital, Inc.<sup>(b)</sup>  | Hercules Capital, Inc.<sup>(b)</sup>  |
| 09/01/2028 | &nbsp;&nbsp; 4.750% | 10000000 | &nbsp;&nbsp; 9641000 |

---

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

Columbia Convertible Securities Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| SoFi Technologies, Inc.<sup>(b)</sup>  | SoFi Technologies, Inc.<sup>(b)</sup>  | SoFi Technologies, Inc.<sup>(b)</sup>  | SoFi Technologies, Inc.<sup>(b)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 1.250% | 4000000 | &nbsp;&nbsp; 7968000 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **17609000** |
| **Health Care 4.1%** | **Health Care 4.1%** | **Health Care 4.1%** | **Health Care 4.1%** |
| Integer Holdings Corp. | Integer Holdings Corp. | Integer Holdings Corp. | Integer Holdings Corp. |
| 02/15/2028 | &nbsp;&nbsp; 2.125% | 8200000 | &nbsp;&nbsp; 9626800 |
| Lantheus Holdings, Inc. | Lantheus Holdings, Inc. | Lantheus Holdings, Inc. | Lantheus Holdings, Inc. |
| 12/15/2027 | &nbsp;&nbsp; 2.625% | 10000000 | &nbsp;&nbsp; 11965000 |
| LivaNova PLC | LivaNova PLC | LivaNova PLC | LivaNova PLC |
| 03/15/2029 | &nbsp;&nbsp; 2.500% | 8000000 | &nbsp;&nbsp; 9913600 |
| Merit Medical Systems, Inc.<sup>(b)</sup>  | Merit Medical Systems, Inc.<sup>(b)</sup>  | Merit Medical Systems, Inc.<sup>(b)</sup>  | Merit Medical Systems, Inc.<sup>(b)</sup>  |
| 02/01/2029 | &nbsp;&nbsp; 3.000% | 10000000 | &nbsp;&nbsp; 11285000 |
| Oscar Health, Inc.<sup>(b)</sup>  | Oscar Health, Inc.<sup>(b)</sup>  | Oscar Health, Inc.<sup>(b)</sup>  | Oscar Health, Inc.<sup>(b)</sup>  |
| 09/01/2030 | &nbsp;&nbsp; 2.250% | 12000000 | &nbsp;&nbsp; 11754000 |
| Repligen Corp. | Repligen Corp. | Repligen Corp. | Repligen Corp. |
| 12/15/2028 | &nbsp;&nbsp; 1.000% | 10900000 | &nbsp;&nbsp; 10916350 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **65460750** |
| **Healthcare REIT 1.0%** | **Healthcare REIT 1.0%** | **Healthcare REIT 1.0%** | **Healthcare REIT 1.0%** |
| Welltower OP LLC<sup>(b)</sup>  | Welltower OP LLC<sup>(b)</sup>  | Welltower OP LLC<sup>(b)</sup>  | Welltower OP LLC<sup>(b)</sup>  |
| 07/15/2029 | &nbsp;&nbsp; 3.125% | 10000000 | &nbsp;&nbsp; 16570000 |
| **Home Construction 0.6%** | **Home Construction 0.6%** | **Home Construction 0.6%** | **Home Construction 0.6%** |
| Compass, Inc.<sup>(b)</sup>  | Compass, Inc.<sup>(b)</sup>  | Compass, Inc.<sup>(b)</sup>  | Compass, Inc.<sup>(b)</sup>  |
| 04/15/2031 | &nbsp;&nbsp; 0.250% | 10000000 | &nbsp;&nbsp; 9538407 |
| **Independent Energy 0.5%** | **Independent Energy 0.5%** | **Independent Energy 0.5%** | **Independent Energy 0.5%** |
| Ramaco Resources, Inc.<sup>(a)</sup>  | Ramaco Resources, Inc.<sup>(a)</sup>  | Ramaco Resources, Inc.<sup>(a)</sup>  | Ramaco Resources, Inc.<sup>(a)</sup>  |
| 11/01/2031 | &nbsp;&nbsp; 0.000% | 10000000 | &nbsp;&nbsp; 7838000 |
| **Leisure 3.7%** | **Leisure 3.7%** | **Leisure 3.7%** | **Leisure 3.7%** |
| IMAX Corp.<sup>(b)</sup>  | IMAX Corp.<sup>(b)</sup>  | IMAX Corp.<sup>(b)</sup>  | IMAX Corp.<sup>(b)</sup>  |
| 11/15/2030 | &nbsp;&nbsp; 0.750% | 8000000 | &nbsp;&nbsp; 9616000 |
| Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. | Live Nation Entertainment, Inc. |
| 01/15/2030 | &nbsp;&nbsp; 2.875% | 33000000 | &nbsp;&nbsp; 36960000 |
| NCL Corp., Ltd.<sup>(b)</sup>  | NCL Corp., Ltd.<sup>(b)</sup>  | NCL Corp., Ltd.<sup>(b)</sup>  | NCL Corp., Ltd.<sup>(b)</sup>  |
| 09/15/2030 | &nbsp;&nbsp; 0.750% | 12000000 | &nbsp;&nbsp; 12434351 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **59010351** |
| **Metals and Mining 3.2%** | **Metals and Mining 3.2%** | **Metals and Mining 3.2%** | **Metals and Mining 3.2%** |
| Caledonia Mining Corp. PLC<sup>(b)</sup>  | Caledonia Mining Corp. PLC<sup>(b)</sup>  | Caledonia Mining Corp. PLC<sup>(b)</sup>  | Caledonia Mining Corp. PLC<sup>(b)</sup>  |
| 01/15/2033 | &nbsp;&nbsp; 5.875% | 6920000 | &nbsp;&nbsp; 8110240 |
| Centrus Energy Corp.<sup>(a),(b)</sup>  | Centrus Energy Corp.<sup>(a),(b)</sup>  | Centrus Energy Corp.<sup>(a),(b)</sup>  | Centrus Energy Corp.<sup>(a),(b)</sup>  |
| 08/15/2032 | &nbsp;&nbsp; 0.000% | 10000000 | &nbsp;&nbsp; 11530000 |
| Endeavour Silver Corp.<sup>(b)</sup>  | Endeavour Silver Corp.<sup>(b)</sup>  | Endeavour Silver Corp.<sup>(b)</sup>  | Endeavour Silver Corp.<sup>(b)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 0.250% | 5900000 | &nbsp;&nbsp; 8203360 |
| Energy Fuels, Inc.<sup>(b)</sup>  | Energy Fuels, Inc.<sup>(b)</sup>  | Energy Fuels, Inc.<sup>(b)</sup>  | Energy Fuels, Inc.<sup>(b)</sup>  |
| 11/01/2031 | &nbsp;&nbsp; 0.750% | 9000000 | &nbsp;&nbsp; 11812500 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| MP Materials Corp.<sup>(b)</sup>  | MP Materials Corp.<sup>(b)</sup>  | MP Materials Corp.<sup>(b)</sup>  | MP Materials Corp.<sup>(b)</sup>  |
| 03/01/2030 | &nbsp;&nbsp; 3.000% | 4000000 | &nbsp;&nbsp; 11406000 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **51062100** |
| **Midstream 0.5%** | **Midstream 0.5%** | **Midstream 0.5%** | **Midstream 0.5%** |
| UGI Corp. | UGI Corp. | UGI Corp. | UGI Corp. |
| 06/01/2028 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 8556000 |
| **Oil Field Services 0.7%** | **Oil Field Services 0.7%** | **Oil Field Services 0.7%** | **Oil Field Services 0.7%** |
| Solaris Energy Infrastructure, Inc. | Solaris Energy Infrastructure, Inc. | Solaris Energy Infrastructure, Inc. | Solaris Energy Infrastructure, Inc. |
| 10/01/2031 | &nbsp;&nbsp; 0.250% | 8900000 | &nbsp;&nbsp; 10429186 |
| **Other Financial Institutions 1.6%** | **Other Financial Institutions 1.6%** | **Other Financial Institutions 1.6%** | **Other Financial Institutions 1.6%** |
| MARA Holdings, Inc.<sup>(a)</sup>  | MARA Holdings, Inc.<sup>(a)</sup>  | MARA Holdings, Inc.<sup>(a)</sup>  | MARA Holdings, Inc.<sup>(a)</sup>  |
| 06/01/2031 | &nbsp;&nbsp; 0.000% | 10900000 | &nbsp;&nbsp; 9493900 |
| TeraWulf, Inc.<sup>(b)</sup>  | TeraWulf, Inc.<sup>(b)</sup>  | TeraWulf, Inc.<sup>(b)</sup>  | TeraWulf, Inc.<sup>(b)</sup>  |
| 09/01/2031 | &nbsp;&nbsp; 1.000% | 10400000 | &nbsp;&nbsp; 15869701 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **25363601** |
| **Other Industry 0.7%** | **Other Industry 0.7%** | **Other Industry 0.7%** | **Other Industry 0.7%** |
| Fluor Corp. | Fluor Corp. | Fluor Corp. | Fluor Corp. |
| 08/15/2029 | &nbsp;&nbsp; 1.125% | 8000000 | &nbsp;&nbsp; 10648000 |
| **Pharmaceuticals 7.5%** | **Pharmaceuticals 7.5%** | **Pharmaceuticals 7.5%** | **Pharmaceuticals 7.5%** |
| Bridgebio Pharma, Inc.<sup>(b)</sup>  | Bridgebio Pharma, Inc.<sup>(b)</sup>  | Bridgebio Pharma, Inc.<sup>(b)</sup>  | Bridgebio Pharma, Inc.<sup>(b)</sup>  |
| 03/01/2031 | &nbsp;&nbsp; 1.750% | 6000000 | &nbsp;&nbsp; 9372000 |
| 02/01/2033 | &nbsp;&nbsp; 0.750% | 10000000 | &nbsp;&nbsp; 9585000 |
| Cytokinetics, Inc.<sup>(b)</sup>  | Cytokinetics, Inc.<sup>(b)</sup>  | Cytokinetics, Inc.<sup>(b)</sup>  | Cytokinetics, Inc.<sup>(b)</sup>  |
| 10/01/2031 | &nbsp;&nbsp; 1.750% | 10000000 | &nbsp;&nbsp; 12426795 |
| Guardant Health, Inc.<sup>(a),(b)</sup>  | Guardant Health, Inc.<sup>(a),(b)</sup>  | Guardant Health, Inc.<sup>(a),(b)</sup>  | Guardant Health, Inc.<sup>(a),(b)</sup>  |
| 05/15/2033 | &nbsp;&nbsp; 0.000% | 16000000 | &nbsp;&nbsp; 17060000 |
| Halozyme Therapeutics, Inc.<sup>(b)</sup>  | Halozyme Therapeutics, Inc.<sup>(b)</sup>  | Halozyme Therapeutics, Inc.<sup>(b)</sup>  | Halozyme Therapeutics, Inc.<sup>(b)</sup>  |
| 11/15/2032 | &nbsp;&nbsp; 0.875% | 14850000 | &nbsp;&nbsp; 15399450 |
| Ionis Pharmaceuticals, Inc.<sup>(a),(b)</sup>  | Ionis Pharmaceuticals, Inc.<sup>(a),(b)</sup>  | Ionis Pharmaceuticals, Inc.<sup>(a),(b)</sup>  | Ionis Pharmaceuticals, Inc.<sup>(a),(b)</sup>  |
| 12/01/2030 | &nbsp;&nbsp; 0.000% | 19000000 | &nbsp;&nbsp; 20906552 |
| Jazz Investments I Ltd. | Jazz Investments I Ltd. | Jazz Investments I Ltd. | Jazz Investments I Ltd. |
| 09/15/2030 | &nbsp;&nbsp; 3.125% | 12000000 | &nbsp;&nbsp; 17132719 |
| Zoetis, Inc.<sup>(b)</sup>  | Zoetis, Inc.<sup>(b)</sup>  | Zoetis, Inc.<sup>(b)</sup>  | Zoetis, Inc.<sup>(b)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 0.250% | 16000000 | &nbsp;&nbsp; 16760000 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **118642516** |
| **Retail REIT 0.5%** | **Retail REIT 0.5%** | **Retail REIT 0.5%** | **Retail REIT 0.5%** |
| Realty Income Corp.<sup>(b)</sup>  | Realty Income Corp.<sup>(b)</sup>  | Realty Income Corp.<sup>(b)</sup>  | Realty Income Corp.<sup>(b)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 3.500% | 7850000 | &nbsp;&nbsp; 8353423 |
| **Retailers 0.5%** | **Retailers 0.5%** | **Retailers 0.5%** | **Retailers 0.5%** |
| Alibaba Group Holding Ltd. | Alibaba Group Holding Ltd. | Alibaba Group Holding Ltd. | Alibaba Group Holding Ltd. |
| 06/01/2031 | &nbsp;&nbsp; 0.500% | 5000000 | &nbsp;&nbsp; 7705000 |

---

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

Columbia Convertible Securities Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Technology 32.6%** | **Technology 32.6%** | **Technology 32.6%** | **Technology 32.6%** |
| Akamai Technologies, Inc.<sup>(b)</sup>  | Akamai Technologies, Inc.<sup>(b)</sup>  | Akamai Technologies, Inc.<sup>(b)</sup>  | Akamai Technologies, Inc.<sup>(b)</sup>  |
| 05/15/2033 | &nbsp;&nbsp; 0.250% | 16500000 | &nbsp;&nbsp; 20659650 |
| Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup>  | Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup>  | Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup>  | Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup>  |
| 01/15/2032 | &nbsp;&nbsp; 0.000% | 4958000 | &nbsp;&nbsp; 5220774 |
| Ascendis Pharma A/S | Ascendis Pharma A/S | Ascendis Pharma A/S | Ascendis Pharma A/S |
| 04/01/2028 | &nbsp;&nbsp; 2.250% | 5000000 | &nbsp;&nbsp; 7507500 |
| Canadian Solar, Inc.<sup>(b)</sup>  | Canadian Solar, Inc.<sup>(b)</sup>  | Canadian Solar, Inc.<sup>(b)</sup>  | Canadian Solar, Inc.<sup>(b)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 3.250% | 7400000 | &nbsp;&nbsp; 7133600 |
| Celcuity, Inc. | Celcuity, Inc. | Celcuity, Inc. | Celcuity, Inc. |
| 08/01/2031 | &nbsp;&nbsp; 2.750% | 3000000 | &nbsp;&nbsp; 7197900 |
| Check Point Software Technologies Ltd.<sup>(a),(b)</sup>  | Check Point Software Technologies Ltd.<sup>(a),(b)</sup>  | Check Point Software Technologies Ltd.<sup>(a),(b)</sup>  | Check Point Software Technologies Ltd.<sup>(a),(b)</sup>  |
| 12/15/2030 | &nbsp;&nbsp; 0.000% | 17000000 | &nbsp;&nbsp; 16175883 |
| Cloudflare, Inc.<sup>(a),(b)</sup>  | Cloudflare, Inc.<sup>(a),(b)</sup>  | Cloudflare, Inc.<sup>(a),(b)</sup>  | Cloudflare, Inc.<sup>(a),(b)</sup>  |
| 06/15/2030 | &nbsp;&nbsp; 0.000% | 15000000 | &nbsp;&nbsp; 15726000 |
| Cogent Biosciences, Inc. | Cogent Biosciences, Inc. | Cogent Biosciences, Inc. | Cogent Biosciences, Inc. |
| 11/15/2031 | &nbsp;&nbsp; 1.625% | 7500000 | &nbsp;&nbsp; 9279750 |
| Cohu, Inc.<sup>(b)</sup>  | Cohu, Inc.<sup>(b)</sup>  | Cohu, Inc.<sup>(b)</sup>  | Cohu, Inc.<sup>(b)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 1.500% | 7500000 | &nbsp;&nbsp; 10035000 |
| CoreWeave, Inc.<sup>(b)</sup>  | CoreWeave, Inc.<sup>(b)</sup>  | CoreWeave, Inc.<sup>(b)</sup>  | CoreWeave, Inc.<sup>(b)</sup>  |
| 12/01/2031 | &nbsp;&nbsp; 1.750% | 20000000 | &nbsp;&nbsp; 20620861 |
| CyberArk Software Ltd.<sup>(a),(b)</sup>  | CyberArk Software Ltd.<sup>(a),(b)</sup>  | CyberArk Software Ltd.<sup>(a),(b)</sup>  | CyberArk Software Ltd.<sup>(a),(b)</sup>  |
| 06/15/2030 | &nbsp;&nbsp; 0.000% | 11000000 | &nbsp;&nbsp; 11223019 |
| Evolent Health, Inc. | Evolent Health, Inc. | Evolent Health, Inc. | Evolent Health, Inc. |
| 12/01/2029 | &nbsp;&nbsp; 3.500% | 7000000 | &nbsp;&nbsp; 3920000 |
| IREN Ltd.<sup>(b)</sup>  | IREN Ltd.<sup>(b)</sup>  | IREN Ltd.<sup>(b)</sup>  | IREN Ltd.<sup>(b)</sup>  |
| 06/01/2033 | &nbsp;&nbsp; 1.000% | 9000000 | &nbsp;&nbsp; 9027000 |
| KalVista Pharmaceuticals, Inc.<sup>(b)</sup>  | KalVista Pharmaceuticals, Inc.<sup>(b)</sup>  | KalVista Pharmaceuticals, Inc.<sup>(b)</sup>  | KalVista Pharmaceuticals, Inc.<sup>(b)</sup>  |
| 10/01/2031 | &nbsp;&nbsp; 3.250% | 6000000 | &nbsp;&nbsp; 7790638 |
| Ligand Pharmaceuticals, Inc.<sup>(b)</sup>  | Ligand Pharmaceuticals, Inc.<sup>(b)</sup>  | Ligand Pharmaceuticals, Inc.<sup>(b)</sup>  | Ligand Pharmaceuticals, Inc.<sup>(b)</sup>  |
| 10/01/2030 | &nbsp;&nbsp; 0.750% | 10000000 | &nbsp;&nbsp; 12139000 |
| Lumentum Holdings, Inc.<sup>(b)</sup>  | Lumentum Holdings, Inc.<sup>(b)</sup>  | Lumentum Holdings, Inc.<sup>(b)</sup>  | Lumentum Holdings, Inc.<sup>(b)</sup>  |
| 03/15/2032 | &nbsp;&nbsp; 0.375% | 19000000 | &nbsp;&nbsp; 72646500 |
| MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup>  | MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup>  | MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup>  | MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup>  |
| 12/15/2029 | &nbsp;&nbsp; 0.000% | 11500000 | &nbsp;&nbsp; 18244750 |
| MicroStrategy, Inc. | MicroStrategy, Inc. | MicroStrategy, Inc. | MicroStrategy, Inc. |
| 03/15/2031 | &nbsp;&nbsp; 0.875% | 12000000 | &nbsp;&nbsp; 11562000 |
| Mirion Technologies, Inc.<sup>(b)</sup>  | Mirion Technologies, Inc.<sup>(b)</sup>  | Mirion Technologies, Inc.<sup>(b)</sup>  | Mirion Technologies, Inc.<sup>(b)</sup>  |
| 06/01/2030 | &nbsp;&nbsp; 0.250% | 7500000 | &nbsp;&nbsp; 8907719 |
| MKS, Inc. | MKS, Inc. | MKS, Inc. | MKS, Inc. |
| 06/01/2030 | &nbsp;&nbsp; 1.250% | 9000000 | &nbsp;&nbsp; 15655500 |
| Nebius Group NV<sup>(b)</sup>  | Nebius Group NV<sup>(b)</sup>  | Nebius Group NV<sup>(b)</sup>  | Nebius Group NV<sup>(b)</sup>  |
| 09/15/2030 | &nbsp;&nbsp; 1.000% | 12000000 | &nbsp;&nbsp; 12254400 |
| 09/15/2032 | &nbsp;&nbsp; 2.750% | 7700000 | &nbsp;&nbsp; 7619150 |
| Nova Ltd.<sup>(a),(b)</sup>  | Nova Ltd.<sup>(a),(b)</sup>  | Nova Ltd.<sup>(a),(b)</sup>  | Nova Ltd.<sup>(a),(b)</sup>  |
| 09/15/2030 | &nbsp;&nbsp; 0.000% | 8000000 | &nbsp;&nbsp; 12452000 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** | **Convertible Bonds (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Nutanix, Inc. | Nutanix, Inc. | Nutanix, Inc. | Nutanix, Inc. |
| 10/01/2027 | &nbsp;&nbsp; 0.250% | 8900000 | &nbsp;&nbsp; 9162550 |
| OSI Systems, Inc.<sup>(b)</sup>  | OSI Systems, Inc.<sup>(b)</sup>  | OSI Systems, Inc.<sup>(b)</sup>  | OSI Systems, Inc.<sup>(b)</sup>  |
| 02/01/2031 | &nbsp;&nbsp; 0.500% | 11880000 | &nbsp;&nbsp; 12591612 |
| Parsons Corp. | Parsons Corp. | Parsons Corp. | Parsons Corp. |
| 03/01/2029 | &nbsp;&nbsp; 2.625% | 11000000 | &nbsp;&nbsp; 11522500 |
| Plug Power, Inc.<sup>(b)</sup>  | Plug Power, Inc.<sup>(b)</sup>  | Plug Power, Inc.<sup>(b)</sup>  | Plug Power, Inc.<sup>(b)</sup>  |
| 12/01/2033 | &nbsp;&nbsp; 6.750% | 5950000 | &nbsp;&nbsp; 6018768 |
| Seagate HDD | Seagate HDD | Seagate HDD | Seagate HDD |
| 06/01/2028 | &nbsp;&nbsp; 3.500% | 4000000 | &nbsp;&nbsp; 19726000 |
| Semtech Corp.<sup>(a),(b)</sup>  | Semtech Corp.<sup>(a),(b)</sup>  | Semtech Corp.<sup>(a),(b)</sup>  | Semtech Corp.<sup>(a),(b)</sup>  |
| 10/15/2030 | &nbsp;&nbsp; 0.000% | 16000000 | &nbsp;&nbsp; 19261619 |
| Snowflake, Inc.<sup>(a)</sup>  | Snowflake, Inc.<sup>(a)</sup>  | Snowflake, Inc.<sup>(a)</sup>  | Snowflake, Inc.<sup>(a)</sup>  |
| 10/01/2029 | &nbsp;&nbsp; 0.000% | 8500000 | &nbsp;&nbsp; 11135000 |
| Super Micro Computer, Inc. | Super Micro Computer, Inc. | Super Micro Computer, Inc. | Super Micro Computer, Inc. |
| 03/01/2029 | &nbsp;&nbsp; 3.500% | 20000000 | &nbsp;&nbsp; 18568717 |
| Super Micro Computer, Inc.<sup>(a),(b)</sup>  | Super Micro Computer, Inc.<sup>(a),(b)</sup>  | Super Micro Computer, Inc.<sup>(a),(b)</sup>  | Super Micro Computer, Inc.<sup>(a),(b)</sup>  |
| 06/15/2030 | &nbsp;&nbsp; 0.000% | 8000000 | &nbsp;&nbsp; 7185600 |
| Synaptics, Inc. | Synaptics, Inc. | Synaptics, Inc. | Synaptics, Inc. |
| 12/01/2031 | &nbsp;&nbsp; 0.750% | 11500000 | &nbsp;&nbsp; 13179000 |
| Tempus AI, Inc.<sup>(b)</sup>  | Tempus AI, Inc.<sup>(b)</sup>  | Tempus AI, Inc.<sup>(b)</sup>  | Tempus AI, Inc.<sup>(b)</sup>  |
| 07/15/2030 | &nbsp;&nbsp; 0.750% | 11000000 | &nbsp;&nbsp; 11306374 |
| Ultra Clean Holdings, Inc.<sup>(a),(b),(c)</sup>  | Ultra Clean Holdings, Inc.<sup>(a),(b),(c)</sup>  | Ultra Clean Holdings, Inc.<sup>(a),(b),(c)</sup>  | Ultra Clean Holdings, Inc.<sup>(a),(b),(c)</sup>  |
| 03/15/2031 | &nbsp;&nbsp; 0.000% | 7900000 | &nbsp;&nbsp; 8261698 |
| Western Digital Corp. | Western Digital Corp. | Western Digital Corp. | Western Digital Corp. |
| 11/15/2028 | &nbsp;&nbsp; 3.000% | 6500000 | &nbsp;&nbsp; 48241700 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **519159732** |
| **Transportation Services 0.3%** | **Transportation Services 0.3%** | **Transportation Services 0.3%** | **Transportation Services 0.3%** |
| Hertz Corp. (The)<sup>(b)</sup>  | Hertz Corp. (The)<sup>(b)</sup>  | Hertz Corp. (The)<sup>(b)</sup>  | Hertz Corp. (The)<sup>(b)</sup>  |
| 10/01/2030 | &nbsp;&nbsp; 5.500% | 7000000 | &nbsp;&nbsp; 4830000 |
| **Wireless 0.7%** | **Wireless 0.7%** | **Wireless 0.7%** | **Wireless 0.7%** |
| AST SpaceMobile, Inc.<sup>(b)</sup>  | AST SpaceMobile, Inc.<sup>(b)</sup>  | AST SpaceMobile, Inc.<sup>(b)</sup>  | AST SpaceMobile, Inc.<sup>(b)</sup>  |
| 01/15/2036 | &nbsp;&nbsp; 2.000% | 11000000 | &nbsp;&nbsp; 11440000 |
| Total Convertible Bonds <br>(Cost $1,051,702,444) | Total Convertible Bonds <br>(Cost $1,051,702,444) | Total Convertible Bonds <br>(Cost $1,051,702,444) | &nbsp;&nbsp; **1243456919** |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Preferred Stocks 18.0%** | **Convertible Preferred Stocks 18.0%** | **Convertible Preferred Stocks 18.0%** | **Convertible Preferred Stocks 18.0%** |
| **Issuer** |  | **Shares** | **Value ($)** |
| **Consumer Discretionary 0.5%** | **Consumer Discretionary 0.5%** | **Consumer Discretionary 0.5%** | **Consumer Discretionary 0.5%** |
| **Household Durables 0.5%** | **Household Durables 0.5%** | **Household Durables 0.5%** | **Household Durables 0.5%** |
| Whirlpool Corp. | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 7857600 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **7857600** |

---

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

Columbia Convertible Securities Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Preferred Stocks (continued)** | **Convertible Preferred Stocks (continued)** | **Convertible Preferred Stocks (continued)** | **Convertible Preferred Stocks (continued)** |
| **Issuer** |  | **Shares** | **Value ($)** |
| **Financials 2.7%** | **Financials 2.7%** | **Financials 2.7%** | **Financials 2.7%** |
| **Banks 2.3%** | **Banks 2.3%** | **Banks 2.3%** | **Banks 2.3%** |
| Bank of America Corp.<sup>(d)</sup> <br>| &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 29648 | &nbsp;&nbsp; 36852761 |
| **Capital Markets 0.4%** | **Capital Markets 0.4%** | **Capital Markets 0.4%** | **Capital Markets 0.4%** |
| KKR & Co., Inc. | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 5319000 |
| **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **42171761** |
| **Health Care 1.2%** | **Health Care 1.2%** | **Health Care 1.2%** | **Health Care 1.2%** |
| **Health Care Providers & Services 0.4%** | **Health Care Providers & Services 0.4%** | **Health Care Providers & Services 0.4%** | **Health Care Providers & Services 0.4%** |
| BrightSpring Health Services, Inc. | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 6937593 |
| **Life Sciences Tools & Services 0.8%** | **Life Sciences Tools & Services 0.8%** | **Life Sciences Tools & Services 0.8%** | **Life Sciences Tools & Services 0.8%** |
| Bruker Corp. | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 12597200 |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **19534793** |
| **Industrials 4.1%** | **Industrials 4.1%** | **Industrials 4.1%** | **Industrials 4.1%** |
| **Aerospace & Defense 3.5%** | **Aerospace & Defense 3.5%** | **Aerospace & Defense 3.5%** | **Aerospace & Defense 3.5%** |
| Boeing Co. (The) | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 39952000 |
| VSE Corp. | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 277500 | &nbsp;&nbsp; 16081125 |
| Total |  |  | &nbsp;&nbsp; 56033125 |
| **Trading Companies & Distributors 0.6%** | **Trading Companies & Distributors 0.6%** | **Trading Companies & Distributors 0.6%** | **Trading Companies & Distributors 0.6%** |
| QXO, Inc. | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 9959006 |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **65992131** |
| **Information Technology 3.5%** | **Information Technology 3.5%** | **Information Technology 3.5%** | **Information Technology 3.5%** |
| **Electronic Equipment, Instruments & Components 0.8%** | **Electronic Equipment, Instruments & Components 0.8%** | **Electronic Equipment, Instruments & Components 0.8%** | **Electronic Equipment, Instruments & Components 0.8%** |
| Novanta, Inc. | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 12971200 |
| **Semiconductors & Semiconductor Equipment 0.8%** | **Semiconductors & Semiconductor Equipment 0.8%** | **Semiconductors & Semiconductor Equipment 0.8%** | **Semiconductors & Semiconductor Equipment 0.8%** |
| Microchip Technology, Inc. | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 12970000 |
| **Software 1.3%** | **Software 1.3%** | **Software 1.3%** | **Software 1.3%** |
| Oracle Corp. | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 20641500 |
| **Technology Hardware, Storage & Peripherals 0.6%** | **Technology Hardware, Storage & Peripherals 0.6%** | **Technology Hardware, Storage & Peripherals 0.6%** | **Technology Hardware, Storage & Peripherals 0.6%** |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 8900976 |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **55483676** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Preferred Stocks (continued)** | **Convertible Preferred Stocks (continued)** | **Convertible Preferred Stocks (continued)** | **Convertible Preferred Stocks (continued)** |
| **Issuer** |  | **Shares** | **Value ($)** |
| **Materials 0.7%** | **Materials 0.7%** | **Materials 0.7%** | **Materials 0.7%** |
| **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** |
| Albemarle Corp. | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 10715146 |
| **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **10715146** |
| **Utilities 5.3%** | **Utilities 5.3%** | **Utilities 5.3%** | **Utilities 5.3%** |
| **Electric Utilities 5.3%** | **Electric Utilities 5.3%** | **Electric Utilities 5.3%** | **Electric Utilities 5.3%** |
| NextEra Energy, Inc. | &nbsp;&nbsp; 7.299% | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 17085124 |
| NextEra Energy, Inc. | &nbsp;&nbsp; 7.234% | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 23467500 |
| NextEra Energy, Inc. | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 20355806 |
| PG&E Corp. | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 9237967 |
| Southern Co. (The) | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 14742473 |
| Total |  |  | &nbsp;&nbsp; 84888870 |
| **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **84888870** |
| Total Convertible Preferred Stocks <br>(Cost $256,877,136) | Total Convertible Preferred Stocks <br>(Cost $256,877,136) | Total Convertible Preferred Stocks <br>(Cost $256,877,136) | &nbsp;&nbsp; **286643977** |
| **Preferred Stocks 0.6%** | **Preferred Stocks 0.6%** | **Preferred Stocks 0.6%** | **Preferred Stocks 0.6%** |
| **Utilities 0.6%** | **Utilities 0.6%** | **Utilities 0.6%** | **Utilities 0.6%** |
| **Electric Utilities 0.6%** | **Electric Utilities 0.6%** | **Electric Utilities 0.6%** | **Electric Utilities 0.6%** |
| PPL Corp. | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 162000 | &nbsp;&nbsp; 8357580 |
| **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **8357580** |
| Total Preferred Stocks <br>(Cost $8,100,000) | Total Preferred Stocks <br>(Cost $8,100,000) | Total Preferred Stocks <br>(Cost $8,100,000) | &nbsp;&nbsp; **8357580** |

---

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

---

| | | |
|:---|:---|:---|
| **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(e),(f)</sup> <br>| &nbsp;&nbsp; 54330699 | &nbsp;&nbsp; 54319833 |
| Total Money Market Funds <br>(Cost $54,311,463) | Total Money Market Funds <br>(Cost $54,311,463) | &nbsp;&nbsp; **54319833** |
| **Total Investments in Securities** <br>**(Cost: $1,395,452,180)** | **Total Investments in Securities** <br>**(Cost: $1,395,452,180)** | &nbsp;&nbsp; **1621570309** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(31025497)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **1590544812** |

---

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) 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 February 28, 2026, the total value of these securities amounted to $780,790,246, which represents 49.09% of total net assets.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(e) The rate shown is the seven-day current annualized yield at February 28, 2026.

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

Columbia Convertible Securities Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

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

&nbsp;&nbsp;&nbsp;&nbsp;(f) 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 year ended February 28, 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, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 24019462 | &nbsp;&nbsp; 897612492 | &nbsp;&nbsp; (867317051)<br>| &nbsp;&nbsp; 4930 | &nbsp;&nbsp; 54319833 | &nbsp;&nbsp; (23443)<br>| &nbsp;&nbsp; 1350202 | &nbsp;&nbsp; 54330699 |

---

**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 Convertible Securities Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

The following table is a summary of the inputs used to value the Fund's investments at February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Information Technology | 11232000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11232000 |
| Real Estate | 8860000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8860000 |
| Utilities | 8700000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8700000 |
| Total Common Stocks | 28792000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28792000 |
| Convertible Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp; 1243456919 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1243456919 |
| Convertible Preferred Stocks |  |  |  |  |
| Consumer Discretionary |  | &nbsp;&nbsp;&nbsp;&nbsp; 7857600 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7857600 |
| Financials |  | &nbsp;&nbsp;&nbsp;&nbsp; 42171761 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42171761 |
| Health Care |  | &nbsp;&nbsp;&nbsp;&nbsp; 19534793 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19534793 |
| Industrials |  | &nbsp;&nbsp;&nbsp;&nbsp; 65992131 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 65992131 |
| Information Technology |  | &nbsp;&nbsp;&nbsp;&nbsp; 55483676 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 55483676 |
| Materials |  | &nbsp;&nbsp;&nbsp;&nbsp; 10715146 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10715146 |
| Utilities |  | &nbsp;&nbsp;&nbsp;&nbsp; 84888870 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 84888870 |
| Total Convertible Preferred Stocks |  | &nbsp;&nbsp;&nbsp;&nbsp; 286643977 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 286643977 |
| Preferred Stocks |  |  |  |  |
| Utilities |  | &nbsp;&nbsp;&nbsp;&nbsp; 8357580 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8357580 |
| Total Preferred Stocks |  | &nbsp;&nbsp;&nbsp;&nbsp; 8357580 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8357580 |
| Money Market Funds | 54319833 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 54319833 |
| Total Investments in Securities | 83111833 | &nbsp;&nbsp;&nbsp;&nbsp; 1538458476 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1621570309 |

---

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 Convertible Securities Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $1,341,140,717) | $1567250476 |
| Affiliated issuers (cost $54,311,463) | 54319833 |
| Receivable for: |  |
| Capital shares sold | 1610447 |
| Dividends | 1519907 |
| Interest | 4208778 |
| Expense reimbursement due from Investment Manager | 2476 |
| Prepaid expenses | 5301 |
| Total assets | 1628917218 |
| **Liabilities** |  |
| Payable for: |  |
| Investments purchased | 29275219 |
| Investments purchased on a delayed delivery basis | 7900000 |
| Capital shares redeemed | 810727 |
| Management services fees | 33515 |
| Distribution and/or service fees | 2734 |
| Transfer agent fees | 82312 |
| Compensation of chief compliance officer | 248 |
| Compensation of board members | 2981 |
| Other expenses | 48928 |
| Deferred compensation of board members | 215742 |
| Total liabilities | 38372406 |
| **Net assets applicable to outstanding capital stock** | **$1590544812** |
| **Represented by** |  |
| Paid in capital | 1315279321 |
| Total distributable earnings (loss) | 275265491 |
| **Total - representing net assets applicable to outstanding capital stock** | **$1590544812** |
| **Class A** |  |
| Net assets | $308176988 |
| Shares outstanding | 11257971 |
| Net asset value per share | $27.37 |
| 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) | $29.04 |
| **Class C** |  |
| Net assets | $21821842 |
| Shares outstanding | 801969 |
| Net asset value per share | $27.21 |
| **Institutional Class** |  |
| Net assets | $715297438 |
| Shares outstanding | 26059962 |
| Net asset value per share | $27.45 |
| **Institutional 2 Class** |  |
| Net assets | $164676393 |
| Shares outstanding | 5924867 |
| Net asset value per share | $27.79 |
| **Institutional 3 Class** |  |
| Net assets | $371283104 |
| Shares outstanding | 13177526 |
| Net asset value per share | $28.18 |
| **Class S** |  |
| Net assets | $9289047 |
| Shares outstanding | 338389 |
| Net asset value per share | $27.45 |

---

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

Columbia Convertible Securities Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $12841745 |
| Dividends — affiliated issuers | 1350202 |
| Interest | 20407792 |
| Interfund lending | 35 |
| Total income | 34599774 |
| Expenses: |  |
| Management services fees | 10354758 |
| Distribution and/or service fees |  |
| Class A | 698175 |
| Class C | 218367 |
| Transfer agent fees |  |
| Class A | 256154 |
| Class C | 20064 |
| Institutional Class | 589404 |
| Institutional 2 Class | 86558 |
| Institutional 3 Class | 9370 |
| Class S | 8578 |
| Custodian fees | 17036 |
| Printing and postage fees | 61673 |
| Registration fees | 144220 |
| Accounting services fees | 33323 |
| Legal fees | 36641 |
| Compensation of chief compliance officer | 231 |
| Compensation of board members | 24742 |
| Deferred compensation of board members | 32215 |
| Other | 38515 |
| Total expenses | 12630024 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (894456)<br>|
| Expense reduction | (260)<br>|
| Total net expenses | 11735308 |
| **Net investment income** | 22864466 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 95706246 |
| Investments — affiliated issuers | (23443)<br>|
| Net realized gain | 95682803 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 209364517 |
| Investments — affiliated issuers | 4930 |
| Net change in unrealized appreciation (depreciation) | 209369447 |
| Net realized and unrealized gain | 305052250 |
| **Net increase in net assets resulting from operations** | **$327916716** |

---

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

Columbia Convertible Securities Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $22864466 | &nbsp;&nbsp; $23578097 |
| Net realized gain | 95682803 | &nbsp;&nbsp; 83080832 |
| Net change in unrealized appreciation (depreciation) | 209369447 | &nbsp;&nbsp; 13019491 |
| Net increase in net assets resulting from operations | 327916716 | &nbsp;&nbsp; 119678420 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (4336087)<br>| &nbsp;&nbsp; (5517946)<br>|
| Advisor Class |  | &nbsp;&nbsp; (1580454)<br>|
| Class C | (186592)<br>| &nbsp;&nbsp; (376780)<br>|
| Institutional Class | (11509791)<br>| &nbsp;&nbsp; (13010025)<br>|
| Institutional 2 Class | (2909954)<br>| &nbsp;&nbsp; (3624047)<br>|
| Institutional 3 Class | (4098469)<br>| &nbsp;&nbsp; (2851779)<br>|
| Class R |  | &nbsp;&nbsp; (3883)<br>|
| Class S | (170309)<br>| &nbsp;&nbsp; (59139)<br>|
| Total distributions to shareholders | (23211202)<br>| &nbsp;&nbsp; (27024053)<br>|
| Increase (decrease) in net assets from capital stock activity | 130222340 | &nbsp;&nbsp; (299215267)<br>|
| Total increase (decrease) in net assets | 434927854 | &nbsp;&nbsp; (206560900)<br>|
| Net assets at beginning of year | 1155616958 | &nbsp;&nbsp; 1362177858 |
| **Net assets at end of year** | **$1590544812** | &nbsp;&nbsp; **$1155616958** |

---

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

Columbia Convertible Securities Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 719150 | &nbsp;&nbsp;&nbsp;&nbsp; 17748041 | &nbsp;&nbsp;&nbsp;&nbsp; 501854 | &nbsp;&nbsp;&nbsp;&nbsp; 10666183 |
| Distributions reinvested | 124921 | &nbsp;&nbsp;&nbsp;&nbsp; 2927275 | &nbsp;&nbsp;&nbsp;&nbsp; 180398 | &nbsp;&nbsp;&nbsp;&nbsp; 3781882 |
| Shares redeemed | (1748801)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (41862069)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2449980)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (51295376)<br>|
| Net decrease | (904730)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (21186753)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1767728)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (36847311)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 738250 | &nbsp;&nbsp;&nbsp;&nbsp; 15589577 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 75473 | &nbsp;&nbsp;&nbsp;&nbsp; 1575595 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5311403)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (119534267)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4497680)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (102369095)<br>|
| Class C |  |  |  |  |
| Shares sold | 48297 | &nbsp;&nbsp;&nbsp;&nbsp; 1160360 | &nbsp;&nbsp;&nbsp;&nbsp; 30049 | &nbsp;&nbsp;&nbsp;&nbsp; 633048 |
| Distributions reinvested | 7690 | &nbsp;&nbsp;&nbsp;&nbsp; 176690 | &nbsp;&nbsp;&nbsp;&nbsp; 16810 | &nbsp;&nbsp;&nbsp;&nbsp; 349796 |
| Shares redeemed | (331275)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7805457)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (623691)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13081092)<br>|
| Net decrease | (275288)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6468407)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (576832)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12098248)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 5502033 | &nbsp;&nbsp;&nbsp;&nbsp; 136614674 | &nbsp;&nbsp;&nbsp;&nbsp; 7947390 | &nbsp;&nbsp;&nbsp;&nbsp; 173962781 |
| Distributions reinvested | 458105 | &nbsp;&nbsp;&nbsp;&nbsp; 10783908 | &nbsp;&nbsp;&nbsp;&nbsp; 572835 | &nbsp;&nbsp;&nbsp;&nbsp; 12067307 |
| Shares redeemed | (8021395)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (194687211)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7738314)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (164292546)<br>|
| Net increase (decrease) | (2061257)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (47288629)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 781911 | &nbsp;&nbsp;&nbsp;&nbsp; 21737542 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 625129 | &nbsp;&nbsp;&nbsp;&nbsp; 15240065 | &nbsp;&nbsp;&nbsp;&nbsp; 835723 | &nbsp;&nbsp;&nbsp;&nbsp; 17917077 |
| Distributions reinvested | 115579 | &nbsp;&nbsp;&nbsp;&nbsp; 2754280 | &nbsp;&nbsp;&nbsp;&nbsp; 160892 | &nbsp;&nbsp;&nbsp;&nbsp; 3419984 |
| Shares redeemed | (1791733)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (44505084)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2203401)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (46529427)<br>|
| Net decrease | (1051025)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (26510739)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1206786)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25192366)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 14389673 | &nbsp;&nbsp;&nbsp;&nbsp; 363071640 | &nbsp;&nbsp;&nbsp;&nbsp; 415464 | &nbsp;&nbsp;&nbsp;&nbsp; 8978924 |
| Distributions reinvested | 139945 | &nbsp;&nbsp;&nbsp;&nbsp; 3589943 | &nbsp;&nbsp;&nbsp;&nbsp; 101676 | &nbsp;&nbsp;&nbsp;&nbsp; 2162369 |
| Shares redeemed | (5081759)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (132083176)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7945864)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (164405782)<br>|
| Net increase (decrease) | 9447859 | &nbsp;&nbsp;&nbsp;&nbsp; 234578407 | &nbsp;&nbsp;&nbsp;&nbsp; (7428724)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (153264489)<br>|
| Class R |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp;&nbsp; 3599 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp; 3745 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (52149)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1039668)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (51786)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1032324)<br>|
| Class S |  |  |  |  |
| Shares sold | 3149 | &nbsp;&nbsp;&nbsp;&nbsp; 76172 | &nbsp;&nbsp;&nbsp;&nbsp; 514598 | &nbsp;&nbsp;&nbsp;&nbsp; 11022207 |
| Distributions reinvested | 7279 | &nbsp;&nbsp;&nbsp;&nbsp; 170309 | &nbsp;&nbsp;&nbsp;&nbsp; 2631 | &nbsp;&nbsp;&nbsp;&nbsp; 59139 |
| Shares redeemed | (133412)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3148020)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (55856)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1230322)<br>|
| Net increase (decrease) | (122984)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2901539)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 461373 | &nbsp;&nbsp;&nbsp;&nbsp; 9851024 |
| **Total net increase (decrease)** | **5032575** | &nbsp;&nbsp;&nbsp;&nbsp; **130222340** | &nbsp;&nbsp;&nbsp;&nbsp; **(14286252)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(299215267)**<br>|

---

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

Columbia Convertible Securities Fund \| 2026

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[THIS PAGE INTENTIONALLY LEFT BLANK]

Columbia Convertible Securities 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** |
| Year Ended 2/28/2026 | $21.88 | 0.37 | 5.49 | 5.86 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.37)<br>|
| Year Ended 2/28/2025 | $20.22 | 0.37 | 1.72 | 2.09 | &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 2/29/2024 | $19.36 | 0.46 | 0.91 | 1.37 | &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.51)<br>|
| Year Ended 2/28/2023 | $23.74 | 0.38 | &nbsp;&nbsp; (2.93)<br>| &nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (1.83)<br>|
| Year Ended 2/28/2022 | $32.01 | 0.24 | &nbsp;&nbsp; (2.84)<br>| &nbsp;&nbsp; (2.60)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (5.45)<br>| &nbsp;&nbsp; (5.67)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 2/28/2026 | $21.76 | 0.19 | 5.45 | 5.64 | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.19)<br>|
| Year Ended 2/28/2025 | $20.10 | 0.21 | 1.72 | 1.93 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.27)<br>|
| Year Ended 2/29/2024 | $19.25 | 0.32 | 0.90 | 1.22 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.37)<br>|
| Year Ended 2/28/2023 | $23.60 | 0.22 | &nbsp;&nbsp; (2.89)<br>| &nbsp;&nbsp; (2.67)<br>| &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (1.68)<br>|
| Year Ended 2/28/2022 | $31.88 | 0.03 | &nbsp;&nbsp; (2.85)<br>| &nbsp;&nbsp; (2.82)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (5.45)<br>| &nbsp;&nbsp; (5.46)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $21.94 | 0.43 | 5.51 | 5.94 | &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 2/28/2025 | $20.27 | 0.43 | 1.72 | 2.15 | &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.48)<br>|
| Year Ended 2/29/2024 | $19.41 | 0.51 | 0.91 | 1.42 | &nbsp;&nbsp; (0.56)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.56)<br>|
| Year Ended 2/28/2023 | $23.79 | 0.43 | &nbsp;&nbsp; (2.92)<br>| &nbsp;&nbsp; (2.49)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (1.89)<br>|
| Year Ended 2/28/2022 | $32.08 | 0.31 | &nbsp;&nbsp; (2.86)<br>| &nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (5.45)<br>| &nbsp;&nbsp; (5.74)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | $22.21 | 0.44 | 5.58 | 6.02 | &nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.44)<br>|
| Year Ended 2/28/2025 | $20.51 | 0.44 | 1.75 | 2.19 | &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.49)<br>|
| Year Ended 2/29/2024 | $19.64 | 0.53 | 0.91 | 1.44 | &nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.57)<br>|
| Year Ended 2/28/2023 | $24.05 | 0.46 | &nbsp;&nbsp; (2.97)<br>| &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (1.90)<br>|
| Year Ended 2/28/2022 | $32.36 | 0.33 | &nbsp;&nbsp; (2.88)<br>| &nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp; (5.45)<br>| &nbsp;&nbsp; (5.76)<br>|

---

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

Columbia Convertible Securities 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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $27.37 | &nbsp;&nbsp;&nbsp;&nbsp; 27.07% | &nbsp;&nbsp;&nbsp;&nbsp; 1.15% | &nbsp;&nbsp;&nbsp;&nbsp; 1.08% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.53% | &nbsp;&nbsp;&nbsp;&nbsp; 212% | &nbsp;&nbsp;&nbsp;&nbsp; $308177 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $21.88 | &nbsp;&nbsp;&nbsp;&nbsp; 10.43% | &nbsp;&nbsp;&nbsp;&nbsp; 1.16% | &nbsp;&nbsp;&nbsp;&nbsp; 1.07% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.77% | &nbsp;&nbsp;&nbsp;&nbsp; 108% | &nbsp;&nbsp;&nbsp;&nbsp; $266166 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $20.22 | &nbsp;&nbsp;&nbsp;&nbsp; 7.25% | &nbsp;&nbsp;&nbsp;&nbsp; 1.16% | &nbsp;&nbsp;&nbsp;&nbsp; 1.09% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.38% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $281630 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.36 | &nbsp;&nbsp;&nbsp;&nbsp; (10.29%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.14% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.88% | &nbsp;&nbsp;&nbsp;&nbsp; 59% | &nbsp;&nbsp;&nbsp;&nbsp; $311254 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $23.74 | &nbsp;&nbsp;&nbsp;&nbsp; (9.04%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.10% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.10% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.83% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $413074 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $27.21 | &nbsp;&nbsp;&nbsp;&nbsp; 26.10% | &nbsp;&nbsp;&nbsp;&nbsp; 1.90% | &nbsp;&nbsp;&nbsp;&nbsp; 1.83% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.79% | &nbsp;&nbsp;&nbsp;&nbsp; 212% | &nbsp;&nbsp;&nbsp;&nbsp; $21822 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $21.76 | &nbsp;&nbsp;&nbsp;&nbsp; 9.67% | &nbsp;&nbsp;&nbsp;&nbsp; 1.91% | &nbsp;&nbsp;&nbsp;&nbsp; 1.82% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.02% | &nbsp;&nbsp;&nbsp;&nbsp; 108% | &nbsp;&nbsp;&nbsp;&nbsp; $23437 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $20.10 | &nbsp;&nbsp;&nbsp;&nbsp; 6.42% | &nbsp;&nbsp;&nbsp;&nbsp; 1.91% | &nbsp;&nbsp;&nbsp;&nbsp; 1.84% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.63% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $33250 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.25 | &nbsp;&nbsp;&nbsp;&nbsp; (10.94%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.89% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.87% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.10% | &nbsp;&nbsp;&nbsp;&nbsp; 59% | &nbsp;&nbsp;&nbsp;&nbsp; $45631 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $23.60 | &nbsp;&nbsp;&nbsp;&nbsp; (9.76%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.85% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.85% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $77910 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $27.45 | &nbsp;&nbsp;&nbsp;&nbsp; 27.40% | &nbsp;&nbsp;&nbsp;&nbsp; 0.90% | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.78% | &nbsp;&nbsp;&nbsp;&nbsp; 212% | &nbsp;&nbsp;&nbsp;&nbsp; $715297 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $21.94 | &nbsp;&nbsp;&nbsp;&nbsp; 10.73% | &nbsp;&nbsp;&nbsp;&nbsp; 0.91% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.02% | &nbsp;&nbsp;&nbsp;&nbsp; 108% | &nbsp;&nbsp;&nbsp;&nbsp; $616999 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $20.27 | &nbsp;&nbsp;&nbsp;&nbsp; 7.50% | &nbsp;&nbsp;&nbsp;&nbsp; 0.91% | &nbsp;&nbsp;&nbsp;&nbsp; 0.84% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.63% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $554094 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.41 | &nbsp;&nbsp;&nbsp;&nbsp; (10.04%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.87% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.09% | &nbsp;&nbsp;&nbsp;&nbsp; 59% | &nbsp;&nbsp;&nbsp;&nbsp; $642404 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $23.79 | &nbsp;&nbsp;&nbsp;&nbsp; (8.84%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $1094312 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $27.79 | &nbsp;&nbsp;&nbsp;&nbsp; 27.44% | &nbsp;&nbsp;&nbsp;&nbsp; 0.86% | &nbsp;&nbsp;&nbsp;&nbsp; 0.79% | &nbsp;&nbsp;&nbsp;&nbsp; 1.82% | &nbsp;&nbsp;&nbsp;&nbsp; 212% | &nbsp;&nbsp;&nbsp;&nbsp; $164676 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $22.21 | &nbsp;&nbsp;&nbsp;&nbsp; 10.79% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.78% | &nbsp;&nbsp;&nbsp;&nbsp; 2.06% | &nbsp;&nbsp;&nbsp;&nbsp; 108% | &nbsp;&nbsp;&nbsp;&nbsp; $154947 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $20.51 | &nbsp;&nbsp;&nbsp;&nbsp; 7.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.86% | &nbsp;&nbsp;&nbsp;&nbsp; 0.79% | &nbsp;&nbsp;&nbsp;&nbsp; 2.69% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $167854 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.64 | &nbsp;&nbsp;&nbsp;&nbsp; (10.00%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.22% | &nbsp;&nbsp;&nbsp;&nbsp; 59% | &nbsp;&nbsp;&nbsp;&nbsp; $159146 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $24.05 | &nbsp;&nbsp;&nbsp;&nbsp; (8.77%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.79% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.14% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $180150 |

---

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

Columbia Convertible Securities 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** |
| Year Ended 2/28/2026 | $22.51 | 0.44 | 5.68 | 6.12 | &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.45)<br>|
| Year Ended 2/28/2025 | $20.78 | 0.46 | 1.77 | 2.23 | &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.50)<br>|
| Year Ended 2/29/2024 | $19.89 | 0.55 | 0.92 | 1.47 | &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.58)<br>|
| Year Ended 2/28/2023 | $24.32 | 0.48 | &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (2.52)<br>| &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (1.91)<br>|
| Year Ended 2/28/2022 | $32.66 | 0.35 | &nbsp;&nbsp; (2.92)<br>| &nbsp;&nbsp; (2.57)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (5.45)<br>| &nbsp;&nbsp; (5.77)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | $21.94 | 0.43 | 5.51 | 5.94 | &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 2/28/2025<sup>(e)</sup> <br>| $21.35 | 0.18 | 0.53 | 0.71 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.12)<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) | 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 Convertible Securities 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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $28.18 | &nbsp;&nbsp;&nbsp;&nbsp; 27.53% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 1.73% | &nbsp;&nbsp;&nbsp;&nbsp; 212% | &nbsp;&nbsp;&nbsp;&nbsp; $371283 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $22.51 | &nbsp;&nbsp;&nbsp;&nbsp; 10.85% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 2.12% | &nbsp;&nbsp;&nbsp;&nbsp; 108% | &nbsp;&nbsp;&nbsp;&nbsp; $83945 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $20.78 | &nbsp;&nbsp;&nbsp;&nbsp; 7.57% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 2.74% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $231868 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.89 | &nbsp;&nbsp;&nbsp;&nbsp; (9.93%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.36% | &nbsp;&nbsp;&nbsp;&nbsp; 59% | &nbsp;&nbsp;&nbsp;&nbsp; $116903 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $24.32 | &nbsp;&nbsp;&nbsp;&nbsp; (8.74%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.18% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $101658 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $27.45 | &nbsp;&nbsp;&nbsp;&nbsp; 27.40% | &nbsp;&nbsp;&nbsp;&nbsp; 0.90% | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.80% | &nbsp;&nbsp;&nbsp;&nbsp; 212% | &nbsp;&nbsp;&nbsp;&nbsp; $9289 |
|  Year Ended 2/28/2025 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $21.94 | &nbsp;&nbsp;&nbsp;&nbsp; 3.32% | &nbsp;&nbsp;&nbsp;&nbsp; 0.94% | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% | &nbsp;&nbsp;&nbsp;&nbsp; 2.01% | &nbsp;&nbsp;&nbsp;&nbsp; 108% | &nbsp;&nbsp;&nbsp;&nbsp; $10123 |

---

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

Columbia Convertible Securities Fund \| 2026

------

Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Convertible Securities Fund (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory 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 Convertible Securities Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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.

**Delayed delivery securities**

The Fund may trade securities on other than normal settlement terms, including securities purchased or sold on a "when-issued" or "forward commitment" basis. This may increase risk to the Fund since the other party to the transaction may fail to deliver, which could cause the Fund to subsequently invest at less advantageous prices. The Fund designates cash or liquid securities in an amount equal to the delayed delivery commitment.

**Security transactions**

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

**Income recognition**

Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted. For convertible securities, premiums attributable to the conversion feature are not amortized.

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

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

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

Columbia Convertible Securities Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared and paid each calendar quarter. 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 0.82% to 0.65% as the Fund's net assets increase. The effective management services fee rate for the year ended February 28, 2026 was 0.77% 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 Convertible Securities Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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 year ended February 28, 2026, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.09 |
| Class C | 0.09 |
| Institutional Class | 0.09 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |
| Class S | 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 year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $260.

**Distribution and service fees**

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

Columbia Convertible Securities Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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

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

**Sales charges (unaudited)**

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the year ended February 28, 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; 86414 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 871 |

---

&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;&nbsp;&nbsp;&nbsp;&nbsp; **July 1, 2025** <br>**through** <br>**June 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;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**July 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;&nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.83 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.83 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.79 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.83 |

---

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 Convertible Securities Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, investments in certain convertible securities, deemed distributions, trustees' deferred compensation, defaulted securities/troubled debt and earnings and profits distributed to shareholders on the redemption of shares. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Undistributed net** <br>**investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<br>|
| 3047407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8674407)<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; 5627000 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 28838202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28838202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27024053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27024053 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 54221573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221259660 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 1400310649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239264559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18004899)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221259660 |

---

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 February 28, 2026, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code. In addition, for the year ended February 28, 2026, capital loss carryforwards utilized, if any, were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** | **Utilized ($)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39877530 |

---

Columbia Convertible Securities Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 $2,891,800,802 and $2,765,111,239, respectively, for the year ended February 28, 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 year ended February 28, 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 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;4.17 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |

---

Interest income earned by the Fund is recorded as Interfund lending in the Statement of Operations. The Fund had no outstanding interfund loans at February 28, 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

Columbia Convertible Securities Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 year ended February 28, 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 February 28, 2026, affiliated shareholders of record owned 20.9% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 10. Subsequent events

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

Note 11. Information regarding pending and settled legal proceedings

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

Columbia Convertible Securities Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 Convertible Securities Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Convertible Securities Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Convertible Securities Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Convertible Securities Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | |
|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dividends** <br>**received** <br>**deduction**<br>|
| 16.15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16.28% |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.

Columbia Convertible Securities Fund \| 2026

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**Columbia Convertible Securities Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382imgda15c48b2.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/

ANN134_02_T01_(04/26)

------

![](g250382imgf9ab6c051.jpg)

Columbia Cornerstone Equity Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_95fc3ae1-1d24-45c9-8a60-d28ecd6de762_POI-CommonContent-Date-120_1) | 3 |
| [Statement of Assets and Liabilities](#xx_95fc3ae1-1d24-45c9-8a60-d28ecd6de762_FS-CommonContent-Date-120_1) | 7 |
| [Statement of Operations](#xx_95fc3ae1-1d24-45c9-8a60-d28ecd6de762_FS-CommonContent-Date-120_2) | 8 |
| [Statement of Changes in Net Assets](#xx_95fc3ae1-1d24-45c9-8a60-d28ecd6de762_FS-CommonContent-Date-120_3) | 9 |
| [Financial Highlights](#xx_95fc3ae1-1d24-45c9-8a60-d28ecd6de762_FIHI-CommonContent-Date-120_2) | 12 |
| [Notes to Financial Statements](#xx_95fc3ae1-1d24-45c9-8a60-d28ecd6de762_NTF-CommonContent-Date-120_1) | 16 |
| [Report of Independent Registered Public Accounting Firm](#xx_95fc3ae1-1d24-45c9-8a60-d28ecd6de762_AUD-CommonContent-Date-120_1) | 28 |
| [Federal Income Tax Information](#xx_95fc3ae1-1d24-45c9-8a60-d28ecd6de762_CCH-CommonContent-Date-120_1) | 29 |

---

Columbia Cornerstone Equity Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | |
|:---|:---|:---|
| **Common Stocks 99.2%** | **Common Stocks 99.2%** | **Common Stocks 99.2%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 11.5%** | **Communication Services 11.5%** | **Communication Services 11.5%** |
| **Diversified Telecommunication Services 1.6%** | **Diversified Telecommunication Services 1.6%** | **Diversified Telecommunication Services 1.6%** |
| AT&T, Inc. | &nbsp;&nbsp; 917403 | &nbsp;&nbsp; 25696458 |
| **Interactive Media & Services 9.9%** | **Interactive Media & Services 9.9%** | **Interactive Media & Services 9.9%** |
| Alphabet, Inc., Class C | &nbsp;&nbsp; 335253 | &nbsp;&nbsp; 104407842 |
| Meta Platforms, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 78242 | &nbsp;&nbsp; 50714899 |
| Total |  | &nbsp;&nbsp; 155122741 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **180819199** |
| **Consumer Discretionary 12.5%** | **Consumer Discretionary 12.5%** | **Consumer Discretionary 12.5%** |
| **Automobiles 1.8%** | **Automobiles 1.8%** | **Automobiles 1.8%** |
| General Motors Co. | &nbsp;&nbsp; 227060 | &nbsp;&nbsp; 17871893 |
| Tesla, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 26230 | &nbsp;&nbsp; 10557837 |
| Total |  | &nbsp;&nbsp; 28429730 |
| **Broadline Retail 4.6%** | **Broadline Retail 4.6%** | **Broadline Retail 4.6%** |
| Amazon.com, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 342545 | &nbsp;&nbsp; 71934450 |
| **Hotels, Restaurants & Leisure 2.0%** | **Hotels, Restaurants & Leisure 2.0%** | **Hotels, Restaurants & Leisure 2.0%** |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp; 46487 | &nbsp;&nbsp; 14493717 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp; 52934 | &nbsp;&nbsp; 16460356 |
| Total |  | &nbsp;&nbsp; 30954073 |
| **Specialty Retail 3.0%** | **Specialty Retail 3.0%** | **Specialty Retail 3.0%** |
| Gap, Inc. (The) | &nbsp;&nbsp; 866539 | &nbsp;&nbsp; 24297754 |
| TJX Companies, Inc. (The) | &nbsp;&nbsp; 136914 | &nbsp;&nbsp; 22133517 |
| Total |  | &nbsp;&nbsp; 46431271 |
| **Textiles, Apparel & Luxury Goods 1.1%** | **Textiles, Apparel & Luxury Goods 1.1%** | **Textiles, Apparel & Luxury Goods 1.1%** |
| NIKE, Inc., Class B | &nbsp;&nbsp; 286289 | &nbsp;&nbsp; 17801450 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **195550974** |
| **Consumer Staples 4.0%** | **Consumer Staples 4.0%** | **Consumer Staples 4.0%** |
| **Consumer Staples Distribution & Retail 1.9%** | **Consumer Staples Distribution & Retail 1.9%** | **Consumer Staples Distribution & Retail 1.9%** |
| Walmart, Inc. | &nbsp;&nbsp; 235748 | &nbsp;&nbsp; 30163956 |
| **Household Products 2.1%** | **Household Products 2.1%** | **Household Products 2.1%** |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 136660 | &nbsp;&nbsp; 13548472 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 119097 | &nbsp;&nbsp; 19913019 |
| Total |  | &nbsp;&nbsp; 33461491 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **63625447** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Energy 1.3%** | **Energy 1.3%** | **Energy 1.3%** |
| **Oil, Gas & Consumable Fuels 1.3%** | **Oil, Gas & Consumable Fuels 1.3%** | **Oil, Gas & Consumable Fuels 1.3%** |
| Valero Energy Corp. | &nbsp;&nbsp; 96346 | &nbsp;&nbsp; 19716246 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **19716246** |
| **Financials 14.5%** | **Financials 14.5%** | **Financials 14.5%** |
| **Banks 7.2%** | **Banks 7.2%** | **Banks 7.2%** |
| Bank of America Corp. | &nbsp;&nbsp; 661924 | &nbsp;&nbsp; 32983673 |
| Citigroup, Inc. | &nbsp;&nbsp; 305394 | &nbsp;&nbsp; 33651365 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 157154 | &nbsp;&nbsp; 47193346 |
| Total |  | &nbsp;&nbsp; 113828384 |
| **Capital Markets 3.5%** | **Capital Markets 3.5%** | **Capital Markets 3.5%** |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 260152 | &nbsp;&nbsp; 24766470 |
| Goldman Sachs Group, Inc. (The)<sup>(a)</sup> <br>| &nbsp;&nbsp; 34667 | &nbsp;&nbsp; 29798713 |
| Total |  | &nbsp;&nbsp; 54565183 |
| **Financial Services 1.9%** | **Financial Services 1.9%** | **Financial Services 1.9%** |
| MasterCard, Inc., Class A | &nbsp;&nbsp; 56480 | &nbsp;&nbsp; 29212021 |
| **Insurance 1.9%** | **Insurance 1.9%** | **Insurance 1.9%** |
| Hartford Insurance Group, Inc. (The) | &nbsp;&nbsp; 212583 | &nbsp;&nbsp; 29938064 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **227543652** |
| **Health Care 10.5%** | **Health Care 10.5%** | **Health Care 10.5%** |
| **Biotechnology 2.3%** | **Biotechnology 2.3%** | **Biotechnology 2.3%** |
| Insmed, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 73975 | &nbsp;&nbsp; 11046687 |
| Revolution Medicines, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 82763 | &nbsp;&nbsp; 8443481 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 34172 | &nbsp;&nbsp; 16977675 |
| Total |  | &nbsp;&nbsp; 36467843 |
| **Health Care Equipment & Supplies 1.9%** | **Health Care Equipment & Supplies 1.9%** | **Health Care Equipment & Supplies 1.9%** |
| Boston Scientific Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 174509 | &nbsp;&nbsp; 13411016 |
| Intuitive Surgical, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 30523 | &nbsp;&nbsp; 15368636 |
| Total |  | &nbsp;&nbsp; 28779652 |
| **Health Care Providers & Services 0.8%** | **Health Care Providers & Services 0.8%** | **Health Care Providers & Services 0.8%** |
| Cencora, Inc. | &nbsp;&nbsp; 34394 | &nbsp;&nbsp; 12799383 |
| **Life Sciences Tools & Services 1.7%** | **Life Sciences Tools & Services 1.7%** | **Life Sciences Tools & Services 1.7%** |
| Danaher Corp. | &nbsp;&nbsp; 73704 | &nbsp;&nbsp; 15525011 |
| Illumina, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 81666 | &nbsp;&nbsp; 10980810 |
| Total |  | &nbsp;&nbsp; 26505821 |

---

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

Columbia Cornerstone Equity Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Pharmaceuticals 3.8%** | **Pharmaceuticals 3.8%** | **Pharmaceuticals 3.8%** |
| Eli Lilly & Co. | &nbsp;&nbsp; 35247 | &nbsp;&nbsp; 37079492 |
| Merck & Co., Inc. | &nbsp;&nbsp; 185704 | &nbsp;&nbsp; 22993869 |
| Total |  | &nbsp;&nbsp; 60073361 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **164626060** |
| **Industrials 8.8%** | **Industrials 8.8%** | **Industrials 8.8%** |
| **Aerospace & Defense 2.0%** | **Aerospace & Defense 2.0%** | **Aerospace & Defense 2.0%** |
| General Dynamics Corp. | &nbsp;&nbsp; 85460 | &nbsp;&nbsp; 30513493 |
| **Commercial Services & Supplies 2.3%** | **Commercial Services & Supplies 2.3%** | **Commercial Services & Supplies 2.3%** |
| Cintas Corp. | &nbsp;&nbsp; 93934 | &nbsp;&nbsp; 18892945 |
| Republic Services, Inc. | &nbsp;&nbsp; 77955 | &nbsp;&nbsp; 17851695 |
| Total |  | &nbsp;&nbsp; 36744640 |
| **Electrical Equipment 2.6%** | **Electrical Equipment 2.6%** | **Electrical Equipment 2.6%** |
| Eaton Corp. PLC | &nbsp;&nbsp; 45527 | &nbsp;&nbsp; 17114510 |
| nVent Electric PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 200302 | &nbsp;&nbsp; 23707745 |
| Total |  | &nbsp;&nbsp; 40822255 |
| **Machinery 1.9%** | **Machinery 1.9%** | **Machinery 1.9%** |
| Parker-Hannifin Corp. | &nbsp;&nbsp; 29087 | &nbsp;&nbsp; 29354019 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **137434407** |
| **Information Technology 30.1%** | **Information Technology 30.1%** | **Information Technology 30.1%** |
| **Electronic Equipment, Instruments & Components 1.8%** | **Electronic Equipment, Instruments & Components 1.8%** | **Electronic Equipment, Instruments & Components 1.8%** |
| TE Connectivity PLC | &nbsp;&nbsp; 123391 | &nbsp;&nbsp; 28398439 |
| **Semiconductors & Semiconductor Equipment 14.8%** | **Semiconductors & Semiconductor Equipment 14.8%** | **Semiconductors & Semiconductor Equipment 14.8%** |
| Broadcom, Inc. | &nbsp;&nbsp; 199110 | &nbsp;&nbsp; 63625600 |
| Lam Research Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 72933 | &nbsp;&nbsp; 17058299 |
| Micron Technology, Inc. | &nbsp;&nbsp; 70318 | &nbsp;&nbsp; 28997034 |
| NVIDIA Corp. | &nbsp;&nbsp; 692909 | &nbsp;&nbsp; 122776546 |
| Total |  | &nbsp;&nbsp; 232457479 |
| **Software 8.4%** | **Software 8.4%** | **Software 8.4%** |
| Microsoft Corp. | &nbsp;&nbsp; 242413 | &nbsp;&nbsp; 95205282 |
| Palo Alto Networks, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 97198 | &nbsp;&nbsp; 14474726 |
| ServiceNow, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 198442 | &nbsp;&nbsp; 21433720 |
| Total |  | &nbsp;&nbsp; 131113728 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Technology Hardware, Storage & Peripherals 5.1%** | **Technology Hardware, Storage & Peripherals 5.1%** | **Technology Hardware, Storage & Peripherals 5.1%** |
| Apple, Inc. | &nbsp;&nbsp; 305221 | &nbsp;&nbsp; 80633284 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **472602930** |
| **Real Estate 1.8%** | **Real Estate 1.8%** | **Real Estate 1.8%** |
| **Specialized REITs 1.8%** | **Specialized REITs 1.8%** | **Specialized REITs 1.8%** |
| Equinix, Inc. | &nbsp;&nbsp; 29632 | &nbsp;&nbsp; 28869272 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **28869272** |
| **Utilities 4.2%** | **Utilities 4.2%** | **Utilities 4.2%** |
| **Electric Utilities 1.4%** | **Electric Utilities 1.4%** | **Electric Utilities 1.4%** |
| Entergy Corp. | &nbsp;&nbsp; 204056 | &nbsp;&nbsp; 21856438 |
| **Multi-Utilities 2.8%** | **Multi-Utilities 2.8%** | **Multi-Utilities 2.8%** |
| Ameren Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 188377 | &nbsp;&nbsp; 21339347 |
| DTE Energy Co. | &nbsp;&nbsp; 151163 | &nbsp;&nbsp; 22408403 |
| Total |  | &nbsp;&nbsp; 43747750 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **65604188** |
| Total Common Stocks <br>(Cost $785,294,607) | Total Common Stocks <br>(Cost $785,294,607) | &nbsp;&nbsp; **1556392375** |
| **Exchange-Traded Equity Funds 0.1%** | **Exchange-Traded Equity Funds 0.1%** | **Exchange-Traded Equity Funds 0.1%** |
|  | **Shares** | **Value ($)** |
| **U.S. Large Cap 0.1%** | **U.S. Large Cap 0.1%** | **U.S. Large Cap 0.1%** |
| Columbia Research Enhanced Core ETF<sup>(c)</sup> <br>| &nbsp;&nbsp; 43646 | &nbsp;&nbsp; 1784685 |
| Total Exchange-Traded Equity Funds <br>(Cost $1,558,598) | Total Exchange-Traded Equity Funds <br>(Cost $1,558,598) | &nbsp;&nbsp; **1784685** |
| **Money Market Funds 0.7%** | **Money Market Funds 0.7%** | **Money Market Funds 0.7%** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 10959532 | &nbsp;&nbsp; 10957340 |
| Total Money Market Funds <br>(Cost $10,955,178) | Total Money Market Funds <br>(Cost $10,955,178) | &nbsp;&nbsp; **10957340** |
| **Total Investments in Securities** <br>**(Cost: $797,808,383)** | **Total Investments in Securities** <br>**(Cost: $797,808,383)** | &nbsp;&nbsp; **1569134400** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **459080** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **1569593480** |

---

At February 28, 2026, securities and/or cash totaling $35,704,709 were pledged as collateral.

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

Columbia Cornerstone Equity Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Investments in derivatives** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 ($)**<br>| **Value ($)** |
| Ameren Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (5335488)<br>| &nbsp;&nbsp; (471)<br>| 125.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (695)<br>| &nbsp;&nbsp; (50633)<br>|
| Goldman Sachs Group, Inc. (The) | Morgan Stanley | USD | &nbsp;&nbsp; (7478259)<br>| &nbsp;&nbsp; (87)<br>| 980.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (106235)<br>| &nbsp;&nbsp; (17879)<br>|
| Lam Research Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (4256798)<br>| &nbsp;&nbsp; (182)<br>| 260.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (159155)<br>| &nbsp;&nbsp; (101010)<br>|
| Meta Platforms, Inc. | Morgan Stanley | USD | &nbsp;&nbsp; (12704328)<br>| &nbsp;&nbsp; (196)<br>| 690.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (137752)<br>| &nbsp;&nbsp; (92120)<br>|
| nVent Electric PLC | Morgan Stanley | USD | &nbsp;&nbsp; (5929836)<br>| &nbsp;&nbsp; (501)<br>| 125.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (159221)<br>| &nbsp;&nbsp; (149047)<br>|
| Total |  |  |  |  |  |  | &nbsp;&nbsp; (563058)<br>| &nbsp;&nbsp; (410689)<br>|

---

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2026 are as follows:

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Capital gain** <br>**distributions($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends —** <br>**affiliated** <br>**issuers ($)**<br>| **End of** <br>**period shares**<br>|
| Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  |
|  | 1519654 | 11216654 | (10699709)<br>| (251914)<br>| 1784685 | 27289 | 1397985 | 67836 | 43646 |
| Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  | Columbia Short-Term Cash Fund, 3.777%  |
|  | 6738438 | 264118428 | (259900294)<br>| 768 | 10957340 |  | (3807)<br>| 575920 | 10959532 |
| Total | 8258092 |  |  | (251146)<br>| 12742025 | 27289 | 1394178 | 643756 |  |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) The rate shown is the seven-day current annualized yield at February 28, 2026.

**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.

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

Columbia Cornerstone Equity Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

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 February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 180819199 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 180819199 |
| Consumer Discretionary | 195550974 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 195550974 |
| Consumer Staples | 63625447 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 63625447 |
| Energy | 19716246 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19716246 |
| Financials | 227543652 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 227543652 |
| Health Care | 164626060 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 164626060 |
| Industrials | 137434407 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 137434407 |
| Information Technology | 472602930 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 472602930 |
| Real Estate | 28869272 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28869272 |
| Utilities | 65604188 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 65604188 |
| Total Common Stocks | 1556392375 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1556392375 |
| Exchange-Traded Equity Funds | 1784685 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1784685 |
| Money Market Funds | 10957340 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10957340 |
| Total Investments in Securities | 1569134400 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1569134400 |
| **Investments in Derivatives** |  |  |  |  |
| Liability |  |  |  |  |
| Call Option Contracts Written | (410689)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (410689)<br>|
| Total | 1568723711 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1568723711 |

---

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

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

Columbia Cornerstone Equity Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $785,294,607) | $1556392375 |
| Affiliated issuers (cost $12,513,776) | 12742025 |
| Receivable for: |  |
| Capital shares sold | 728274 |
| Dividends | 962511 |
| Foreign tax reclaims | 21902 |
| Expense reimbursement due from Investment Manager | 8628 |
| Prepaid expenses | 4610 |
| Total assets | 1570860325 |
| **Liabilities** |  |
| Option contracts written, at value (premiums received $563,058) | 410689 |
| Payable for: |  |
| Capital shares redeemed | 510117 |
| Management services fees | 30982 |
| Distribution and/or service fees | 2049 |
| Transfer agent fees | 70470 |
| Compensation of chief compliance officer | 286 |
| Compensation of board members | 3277 |
| Other expenses | 40669 |
| Deferred compensation of board members | 198306 |
| Total liabilities | 1266845 |
| **Net assets applicable to outstanding capital stock** | **$1569593480** |
| **Represented by** |  |
| Paid in capital | 730455384 |
| Total distributable earnings (loss) | 839138096 |
| **Total - representing net assets applicable to outstanding capital stock** | **$1569593480** |
| **Class A** |  |
| Net assets | $267322727 |
| Shares outstanding | 11149130 |
| Net asset value per share | $23.98 |
| 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) | $25.44 |
| **Class C** |  |
| Net assets | $7346218 |
| Shares outstanding | 356703 |
| Net asset value per share | $20.59 |
| **Institutional Class** |  |
| Net assets | $339199493 |
| Shares outstanding | 14298239 |
| Net asset value per share | $23.72 |
| **Institutional 2 Class** |  |
| Net assets | $282083667 |
| Shares outstanding | 11357100 |
| Net asset value per share | $24.84 |
| **Institutional 3 Class** |  |
| Net assets | $627634483 |
| Shares outstanding | 27049474 |
| Net asset value per share | $23.20 |
| **Class S** |  |
| Net assets | $46006892 |
| Shares outstanding | 1938769 |
| Net asset value per share | $23.73 |

---

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

Columbia Cornerstone Equity Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $17138173 |
| Dividends — affiliated issuers | 643756 |
| Total income | 17781929 |
| Expenses: |  |
| Management services fees | 11351055 |
| Distribution and/or service fees |  |
| Class A | 657243 |
| Class C | 81485 |
| Transfer agent fees |  |
| Class A | 298819 |
| Class C | 9266 |
| Institutional Class | 427165 |
| Institutional 2 Class | 142593 |
| Institutional 3 Class | 26272 |
| Class S | 51376 |
| Custodian fees | 9920 |
| Printing and postage fees | 42551 |
| Registration fees | 145502 |
| Accounting services fees | 33323 |
| Legal fees | 40307 |
| Compensation of chief compliance officer | 264 |
| Compensation of board members | 27619 |
| Deferred compensation of board members | 28876 |
| Other | 42419 |
| Total expenses | 13416055 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (3186400)<br>|
| Expense reduction | (200)<br>|
| Total net expenses | 10229455 |
| **Net investment income** | 7552474 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 89814324 |
| Investments — affiliated issuers | 1394178 |
| Capital gain distributions from underlying affiliated funds | 27289 |
| Net realized gain | 91235791 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 87711845 |
| Investments — affiliated issuers | (251146)<br>|
| Option contracts written | 152369 |
| Net change in unrealized appreciation (depreciation) | 87613068 |
| Net realized and unrealized gain | 178848859 |
| **Net increase in net assets resulting from operations** | **$186401333** |

---

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

Columbia Cornerstone Equity Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $7552474 | &nbsp;&nbsp; $7630136 |
| Net realized gain | 91235791 | &nbsp;&nbsp; 76466113 |
| Net change in unrealized appreciation (depreciation) | 87613068 | &nbsp;&nbsp; 145107917 |
| Net increase in net assets resulting from operations | 186401333 | &nbsp;&nbsp; 229204166 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (7737571)<br>| &nbsp;&nbsp; (15629548)<br>|
| Advisor Class |  | &nbsp;&nbsp; (186752)<br>|
| Class C | (258941)<br>| &nbsp;&nbsp; (624256)<br>|
| Institutional Class | (12045371)<br>| &nbsp;&nbsp; (21453611)<br>|
| Institutional 2 Class | (8266851)<br>| &nbsp;&nbsp; (14537661)<br>|
| Institutional 3 Class | (21647243)<br>| &nbsp;&nbsp; (41220137)<br>|
| Class S | (1447068)<br>| &nbsp;&nbsp; (1447007)<br>|
| Total distributions to shareholders | (51403045)<br>| &nbsp;&nbsp; (95098972)<br>|
| Decrease in net assets from capital stock activity | (89301794)<br>| &nbsp;&nbsp; (33103665)<br>|
| Total increase in net assets | 45696494 | &nbsp;&nbsp; 101001529 |
| Net assets at beginning of year | 1523896986 | &nbsp;&nbsp; 1422895457 |
| **Net assets at end of year** | **$1569593480** | &nbsp;&nbsp; **$1523896986** |

---

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

Columbia Cornerstone Equity Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 580242 | &nbsp;&nbsp;&nbsp;&nbsp; 13042129 | &nbsp;&nbsp;&nbsp;&nbsp; 1148095 | &nbsp;&nbsp;&nbsp;&nbsp; 25036138 |
| Distributions reinvested | 160076 | &nbsp;&nbsp;&nbsp;&nbsp; 3575911 | &nbsp;&nbsp;&nbsp;&nbsp; 320390 | &nbsp;&nbsp;&nbsp;&nbsp; 7047139 |
| Shares redeemed | (1658752)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (37288489)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1491641)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (32247199)<br>|
| Net decrease | (918434)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (20670449)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (23156)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (163922)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 110335 | &nbsp;&nbsp;&nbsp;&nbsp; 2260038 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8938 | &nbsp;&nbsp;&nbsp;&nbsp; 186631 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (350223)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7771302)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (230950)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5324633)<br>|
| Class C |  |  |  |  |
| Shares sold | 34734 | &nbsp;&nbsp;&nbsp;&nbsp; 662392 | &nbsp;&nbsp;&nbsp;&nbsp; 81055 | &nbsp;&nbsp;&nbsp;&nbsp; 1520924 |
| Distributions reinvested | 13349 | &nbsp;&nbsp;&nbsp;&nbsp; 255937 | &nbsp;&nbsp;&nbsp;&nbsp; 31390 | &nbsp;&nbsp;&nbsp;&nbsp; 601996 |
| Shares redeemed | (182128)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3524545)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (146454)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2748291)<br>|
| Net decrease | (134045)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2606216)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (34009)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (625371)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 7967319 | &nbsp;&nbsp;&nbsp;&nbsp; 185033659 | &nbsp;&nbsp;&nbsp;&nbsp; 2624914 | &nbsp;&nbsp;&nbsp;&nbsp; 56826262 |
| Distributions reinvested | 500794 | &nbsp;&nbsp;&nbsp;&nbsp; 11222046 | &nbsp;&nbsp;&nbsp;&nbsp; 917355 | &nbsp;&nbsp;&nbsp;&nbsp; 19947538 |
| Shares redeemed | (9295806)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (218144092)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4892336)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (106006075)<br>|
| Net decrease | (827693)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (21888387)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1350067)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (29232275)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 1751297 | &nbsp;&nbsp;&nbsp;&nbsp; 40917619 | &nbsp;&nbsp;&nbsp;&nbsp; 1976552 | &nbsp;&nbsp;&nbsp;&nbsp; 44204705 |
| Distributions reinvested | 354759 | &nbsp;&nbsp;&nbsp;&nbsp; 8266851 | &nbsp;&nbsp;&nbsp;&nbsp; 638830 | &nbsp;&nbsp;&nbsp;&nbsp; 14537661 |
| Shares redeemed | (1930501)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (45041359)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1730348)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (38419124)<br>|
| Net increase | 175555 | &nbsp;&nbsp;&nbsp;&nbsp; 4143111 | &nbsp;&nbsp;&nbsp;&nbsp; 885034 | &nbsp;&nbsp;&nbsp;&nbsp; 20323242 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 1851759 | &nbsp;&nbsp;&nbsp;&nbsp; 41211249 | &nbsp;&nbsp;&nbsp;&nbsp; 680868 | &nbsp;&nbsp;&nbsp;&nbsp; 14313691 |
| Distributions reinvested | 922903 | &nbsp;&nbsp;&nbsp;&nbsp; 20117577 | &nbsp;&nbsp;&nbsp;&nbsp; 1779585 | &nbsp;&nbsp;&nbsp;&nbsp; 37931836 |
| Shares redeemed | (4637886)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (106609876)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5482986)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (115282761)<br>|
| Net decrease | (1863224)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (45281050)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3022533)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (63037234)<br>|
| Class S |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2094579 | &nbsp;&nbsp;&nbsp;&nbsp; 45512091 |
| Distributions reinvested | 65168 | &nbsp;&nbsp;&nbsp;&nbsp; 1447068 | &nbsp;&nbsp;&nbsp;&nbsp; 64197 | &nbsp;&nbsp;&nbsp;&nbsp; 1447007 |
| Shares redeemed | (195464)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4445871)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (89711)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2002570)<br>|
| Net increase (decrease) | (130296)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2998803)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2069065 | &nbsp;&nbsp;&nbsp;&nbsp; 44956528 |
| **Total net decrease** | **(3698137)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(89301794)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(1706616)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(33103665)**<br>|

---

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

Columbia Cornerstone Equity Fund \| 2026

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Columbia Cornerstone Equity Fund \| 2026

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Financial Highlights

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

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(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** |
| Year Ended 2/28/2026 | $22.06 | 0.05 | 2.54 | 2.59 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.67)<br>|
| Year Ended 2/28/2025 | $20.13 | 0.05 | 3.20 | 3.25 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.32)<br>|
| Year Ended 2/29/2024 | $15.99 | 0.13 | 4.88 | 5.01 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.87)<br>|
| Year Ended 2/28/2023 | $18.81 | 0.13 | &nbsp;&nbsp; (2.03)<br>| &nbsp;&nbsp; (1.90)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp; (0.92)<br>|
| Year Ended 2/28/2022 | $17.28 | 0.11 | 2.88 | 2.99 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp; (1.46)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 2/28/2026 | $19.14 | &nbsp;&nbsp; (0.10)<br>| 2.18 | 2.08 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>|
| Year Ended 2/28/2025 | $17.70 | &nbsp;&nbsp; (0.09)<br>| 2.80 | 2.71 | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.27)<br>|
| Year Ended 2/29/2024 | $14.17 | &nbsp;&nbsp; (0.01)<br>| 4.30 | 4.29 | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.76)<br>|
| Year Ended 2/28/2023 | $16.78 | 0.01 | &nbsp;&nbsp; (1.82)<br>| &nbsp;&nbsp; (1.81)<br>| &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp; (0.80)<br>|
| Year Ended 2/28/2022 | $15.58 | &nbsp;&nbsp; (0.04)<br>| 2.60 | 2.56 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp; (1.36)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $21.83 | 0.10 | 2.52 | 2.62 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.73)<br>|
| Year Ended 2/28/2025 | $19.92 | 0.11 | 3.17 | 3.28 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.37)<br>|
| Year Ended 2/29/2024 | $15.83 | 0.17 | 4.83 | 5.00 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.91)<br>|
| Year Ended 2/28/2023 | $18.63 | 0.17 | &nbsp;&nbsp; (2.01)<br>| &nbsp;&nbsp; (1.84)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp; (0.96)<br>|
| Year Ended 2/28/2022 | $17.13 | 0.15 | 2.85 | 3.00 | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp; (1.50)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | $22.82 | 0.12 | 2.64 | 2.76 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.74)<br>|
| Year Ended 2/28/2025 | $20.77 | 0.13 | 3.30 | 3.43 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.38)<br>|
| Year Ended 2/29/2024 | $16.47 | 0.19 | 5.03 | 5.22 | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.92)<br>|
| Year Ended 2/28/2023 | $19.35 | 0.19 | &nbsp;&nbsp; (2.10)<br>| &nbsp;&nbsp; (1.91)<br>| &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp; (0.97)<br>|
| Year Ended 2/28/2022 | $17.73 | 0.17 | 2.97 | 3.14 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp; (1.52)<br>|

---

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

Columbia Cornerstone Equity Fund \| 2026

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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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $23.98 | &nbsp;&nbsp;&nbsp;&nbsp; 11.99% | &nbsp;&nbsp;&nbsp;&nbsp; 1.10% | &nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $267323 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $22.06 | &nbsp;&nbsp;&nbsp;&nbsp; 16.25% | &nbsp;&nbsp;&nbsp;&nbsp; 1.10% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25% | &nbsp;&nbsp;&nbsp;&nbsp; 56% | &nbsp;&nbsp;&nbsp;&nbsp; $266216 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $20.13 | &nbsp;&nbsp;&nbsp;&nbsp; 31.98% | &nbsp;&nbsp;&nbsp;&nbsp; 1.12% | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $243348 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $15.99 | &nbsp;&nbsp;&nbsp;&nbsp; (9.89%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 55% | &nbsp;&nbsp;&nbsp;&nbsp; $194560 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $18.81 | &nbsp;&nbsp;&nbsp;&nbsp; 17.04% | &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.79% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.54% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $235276 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $20.59 | &nbsp;&nbsp;&nbsp;&nbsp; 11.11% | &nbsp;&nbsp;&nbsp;&nbsp; 1.85% | &nbsp;&nbsp;&nbsp;&nbsp; 1.65% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.52%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $7346 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $19.14 | &nbsp;&nbsp;&nbsp;&nbsp; 15.44% | &nbsp;&nbsp;&nbsp;&nbsp; 1.85% | &nbsp;&nbsp;&nbsp;&nbsp; 1.62% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.50%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 56% | &nbsp;&nbsp;&nbsp;&nbsp; $9392 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $17.70 | &nbsp;&nbsp;&nbsp;&nbsp; 30.91% | &nbsp;&nbsp;&nbsp;&nbsp; 1.87% | &nbsp;&nbsp;&nbsp;&nbsp; 1.58% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.04%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $9290 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.17 | &nbsp;&nbsp;&nbsp;&nbsp; (10.54%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.88% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06% | &nbsp;&nbsp;&nbsp;&nbsp; 55% | &nbsp;&nbsp;&nbsp;&nbsp; $8243 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $16.78 | &nbsp;&nbsp;&nbsp;&nbsp; 16.13% | &nbsp;&nbsp;&nbsp;&nbsp; 1.87% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.54% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.21%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $8739 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $23.72 | &nbsp;&nbsp;&nbsp;&nbsp; 12.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.85% | &nbsp;&nbsp;&nbsp;&nbsp; 0.65% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.46% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $339199 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $21.83 | &nbsp;&nbsp;&nbsp;&nbsp; 16.59% | &nbsp;&nbsp;&nbsp;&nbsp; 0.85% | &nbsp;&nbsp;&nbsp;&nbsp; 0.62% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% | &nbsp;&nbsp;&nbsp;&nbsp; 56% | &nbsp;&nbsp;&nbsp;&nbsp; $330205 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $19.92 | &nbsp;&nbsp;&nbsp;&nbsp; 32.29% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.58% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.96% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $328278 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $15.83 | &nbsp;&nbsp;&nbsp;&nbsp; (9.65%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.07% | &nbsp;&nbsp;&nbsp;&nbsp; 55% | &nbsp;&nbsp;&nbsp;&nbsp; $261568 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $18.63 | &nbsp;&nbsp;&nbsp;&nbsp; 17.28% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.54% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.79% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $214100 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $24.84 | &nbsp;&nbsp;&nbsp;&nbsp; 12.34% | &nbsp;&nbsp;&nbsp;&nbsp; 0.79% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $282084 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $22.82 | &nbsp;&nbsp;&nbsp;&nbsp; 16.64% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% | &nbsp;&nbsp;&nbsp;&nbsp; 0.57% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 56% | &nbsp;&nbsp;&nbsp;&nbsp; $255174 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $20.77 | &nbsp;&nbsp;&nbsp;&nbsp; 32.38% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% | &nbsp;&nbsp;&nbsp;&nbsp; 1.03% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $213892 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $16.47 | &nbsp;&nbsp;&nbsp;&nbsp; (9.64%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.12% | &nbsp;&nbsp;&nbsp;&nbsp; 55% | &nbsp;&nbsp;&nbsp;&nbsp; $184917 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $19.35 | &nbsp;&nbsp;&nbsp;&nbsp; 17.45% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $198955 |

---

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

Columbia Cornerstone Equity Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | $21.37 | 0.13 | 2.45 | 2.58 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.75)<br>|
| Year Ended 2/28/2025 | $19.52 | 0.13 | 3.11 | 3.24 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.39)<br>|
| Year Ended 2/29/2024 | $15.53 | 0.19 | 4.73 | 4.92 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.93)<br>|
| Year Ended 2/28/2023 | $18.30 | 0.19 | &nbsp;&nbsp; (1.98)<br>| &nbsp;&nbsp; (1.79)<br>| &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp; (0.98)<br>|
| Year Ended 2/28/2022 | $16.85 | 0.17 | 2.81 | 2.98 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp; (1.53)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | $21.84 | 0.11 | 2.51 | 2.62 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.73)<br>|
| Year Ended 2/28/2025<sup>(e)</sup> <br>| $21.60 | 0.04 | 0.91 | 0.95 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (0.71)<br>|

---

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

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
| (d) | Ratios include interest on collateral expense which is less than 0.01%. |
| (e) | Class S shares commenced operations on October 2, 2024. Per share data and total return reflect activity from that date. |

---

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

Columbia Cornerstone Equity 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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $23.20 | &nbsp;&nbsp;&nbsp;&nbsp; 12.34% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 0.54% | &nbsp;&nbsp;&nbsp;&nbsp; 0.58% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $627634 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $21.37 | &nbsp;&nbsp;&nbsp;&nbsp; 16.74% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% | &nbsp;&nbsp;&nbsp;&nbsp; 0.61% | &nbsp;&nbsp;&nbsp;&nbsp; 56% | &nbsp;&nbsp;&nbsp;&nbsp; $617732 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $19.52 | &nbsp;&nbsp;&nbsp;&nbsp; 32.41% | &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 0.46% | &nbsp;&nbsp;&nbsp;&nbsp; 1.07% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $623513 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $15.53 | &nbsp;&nbsp;&nbsp;&nbsp; (9.54%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.76% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.43% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17% | &nbsp;&nbsp;&nbsp;&nbsp; 55% | &nbsp;&nbsp;&nbsp;&nbsp; $559371 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $18.30 | &nbsp;&nbsp;&nbsp;&nbsp; 17.40% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.42% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.92% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $700548 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $23.73 | &nbsp;&nbsp;&nbsp;&nbsp; 12.23% | &nbsp;&nbsp;&nbsp;&nbsp; 0.85% | &nbsp;&nbsp;&nbsp;&nbsp; 0.65% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $46007 |
|  Year Ended 2/28/2025 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $21.84 | &nbsp;&nbsp;&nbsp;&nbsp; 4.29% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.64% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.49% | &nbsp;&nbsp;&nbsp;&nbsp; 56% | &nbsp;&nbsp;&nbsp;&nbsp; $45178 |

---

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

Columbia Cornerstone Equity Fund \| 2026

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Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Cornerstone Equity Fund (formerly known as Columbia Select Large Cap Equity Fund) (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory trust.

Effective September 1, 2025, Columbia Select Large Cap Equity Fund was renamed Columbia Cornerstone Equity Fund.

**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 Cornerstone Equity Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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.

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.

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

Columbia Cornerstone Equity Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 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.

**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

Columbia Cornerstone Equity Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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.

**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 indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the year ended February 28, 2026:

---

| | | |
|:---|:---|:---|
|  | **Liability derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Equity risk | Option contracts written, at value | &nbsp;&nbsp;&nbsp;&nbsp; 410689 |

---

The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the year ended February 28, 2026:

---

| | |
|:---|:---|
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Option** <br>**contracts** <br>**written** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 152369 |

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Columbia Cornerstone Equity Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

The following table is a summary of the average daily outstanding volume by derivative instrument for the year ended February 28, 2026:

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| | |
|:---|:---|
| **Derivative instrument** | **Average** <br>**value ($)**<br>|
| Option contracts written | (15832)<br>|

---

**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 February 28, 2026:

---

| | |
|:---|:---|
|  | **Morgan** <br>**Stanley**<br>|
| **Liabilities** |  |
| Call option contracts written | $&nbsp;&nbsp; 410689<br>|
| **Total financial and derivative net assets** | &nbsp;&nbsp; **(410689)**<br>|
| Total collateral received (pledged) <sup>(a)</sup> <br>| &nbsp;&nbsp; (410689)<br>|
| **Net amount** <sup>(b)</sup> <br>| $&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**

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.

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Notes to Financial Statements (continued)

February 28, 2026

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

**Guarantees and indemnifications**

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

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.77% to 0.57% as the Fund's net assets increase. The effective management services fee rate for the year ended February 28, 2026 was 0.71% of the Fund's average daily net assets.

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

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Notes to Financial Statements (continued)

February 28, 2026

**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 year ended February 28, 2026, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.11 |
| Class C | 0.11 |
| Institutional Class | 0.11 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |
| Class S | 0.11 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $200.

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Notes to Financial Statements (continued)

February 28, 2026

**Distribution and service fees**

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

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

**Sales charges (unaudited)**

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the year ended February 28, 2026, if any, are listed below:

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| | | |
|:---|:---|:---|
|  | **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; 54010 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 164 |

---

&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;&nbsp;&nbsp;&nbsp;&nbsp; **July 1, 2025** <br>**through** <br>**June 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;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**July 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;&nbsp;&nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.90 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;&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 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.54 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;&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 |

---

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

Columbia Cornerstone Equity Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, tax straddles, trustees' deferred compensation, re-characterization of distributions for investments and earnings and profits distributed to shareholders on the redemption of shares. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Undistributed net** <br>**investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<br>|
| 20372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5230372)<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; 5210000 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 7330713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44072332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51403045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11995807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83103165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95098972 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 2234248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73149155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763953000 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 804770711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 774553549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10600549)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763953000 |

---

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.

Columbia Cornerstone Equity Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $1,137,458,225 and $1,273,669,533, respectively, for the year ended February 28, 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 did not borrow or lend money under the Interfund Program during the year ended February 28, 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 year ended February 28, 2026.

Columbia Cornerstone Equity Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 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 February 28, 2026, affiliated shareholders of record owned 44.3% 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 Cornerstone Equity Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

judgments, settlements, fines, penalties or other relief, and may lead to further claims, examinations, adverse publicity or reputational damage, each of which could have a material adverse effect on the consolidated financial condition or results of operations or financial condition of Ameriprise Financial or one or more of its affiliates that provide services to the Fund.

Columbia Cornerstone Equity Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Cornerstone Equity Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Cornerstone Equity Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Cornerstone Equity Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | | |
|:---|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dividends** <br>**received** <br>**deduction**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital** <br>**gain** <br>**dividend**<br>|
| 100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $99656858 |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Columbia Cornerstone Equity Fund \| 2026

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**Columbia Cornerstone Equity Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382img68e2886e2.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/

ANN172_02_T01_(04/26)

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![](g250382img69f222681.jpg)

Columbia Large Cap Enhanced Core Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_20d8b852-6943-4e3b-a021-1a37b52a2f62_POI-CommonContent-Date-89_1) | 3 |
| [Statement of Assets and Liabilities](#xx_20d8b852-6943-4e3b-a021-1a37b52a2f62_FS-CommonContent-Date-89_1) | 8 |
| [Statement of Operations](#xx_20d8b852-6943-4e3b-a021-1a37b52a2f62_FS-CommonContent-Date-89_2) | 9 |
| [Statement of Changes in Net Assets](#xx_20d8b852-6943-4e3b-a021-1a37b52a2f62_FS-CommonContent-Date-89_3) | 10 |
| [Financial Highlights](#xx_20d8b852-6943-4e3b-a021-1a37b52a2f62_FIHI-CommonContent-Date-89_1) | 12 |
| [Notes to Financial Statements](#xx_20d8b852-6943-4e3b-a021-1a37b52a2f62_NTF-CommonContent-Date-89_1) | 14 |
| [Report of Independent Registered Public Accounting Firm](#xx_20d8b852-6943-4e3b-a021-1a37b52a2f62_AUD-CommonContent-Date-89_1) | 25 |
| [Federal Income Tax Information](#xx_20d8b852-6943-4e3b-a021-1a37b52a2f62_CCH-CommonContent-Date-89_1) | 26 |

---

Columbia Large Cap Enhanced Core Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(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 98.5%** | **Common Stocks 98.5%** | **Common Stocks 98.5%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 9.9%** | **Communication Services 9.9%** | **Communication Services 9.9%** |
| **Interactive Media & Services 9.3%** | **Interactive Media & Services 9.3%** | **Interactive Media & Services 9.3%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp; 86104 | &nbsp;&nbsp; 26843783 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp; 21605 | &nbsp;&nbsp; 14003929 |
| Total |  | &nbsp;&nbsp; 40847712 |
| **Media 0.6%** | **Media 0.6%** | **Media 0.6%** |
| Fox Corp., Class A | &nbsp;&nbsp; 47197 | &nbsp;&nbsp; 2659079 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **43506791** |
| **Consumer Discretionary 9.7%** | **Consumer Discretionary 9.7%** | **Consumer Discretionary 9.7%** |
| **Automobile Components 0.6%** | **Automobile Components 0.6%** | **Automobile Components 0.6%** |
| Aptiv PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 34063 | &nbsp;&nbsp; 2504993 |
| **Automobiles 2.1%** | **Automobiles 2.1%** | **Automobiles 2.1%** |
| General Motors Co. | &nbsp;&nbsp; 36114 | &nbsp;&nbsp; 2842533 |
| Tesla, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 15759 | &nbsp;&nbsp; 6343155 |
| Total |  | &nbsp;&nbsp; 9185688 |
| **Broadline Retail 3.4%** | **Broadline Retail 3.4%** | **Broadline Retail 3.4%** |
| Amazon.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 71957 | &nbsp;&nbsp; 15110970 |
| **Hotels, Restaurants & Leisure 2.0%** | **Hotels, Restaurants & Leisure 2.0%** | **Hotels, Restaurants & Leisure 2.0%** |
| Booking Holdings, Inc. | &nbsp;&nbsp; 810 | &nbsp;&nbsp; 3433874 |
| Carnival Corp. | &nbsp;&nbsp; 92639 | &nbsp;&nbsp; 2922760 |
| Expedia Group, Inc. | &nbsp;&nbsp; 11890 | &nbsp;&nbsp; 2564554 |
| Total |  | &nbsp;&nbsp; 8921188 |
| **Specialty Retail 0.4%** | **Specialty Retail 0.4%** | **Specialty Retail 0.4%** |
| Home Depot, Inc. (The) | &nbsp;&nbsp; 2292 | &nbsp;&nbsp; 872610 |
| TJX Companies, Inc. (The) | &nbsp;&nbsp; 6388 | &nbsp;&nbsp; 1032684 |
| Total |  | &nbsp;&nbsp; 1905294 |
| **Textiles, Apparel & Luxury Goods 1.2%** | **Textiles, Apparel & Luxury Goods 1.2%** | **Textiles, Apparel & Luxury Goods 1.2%** |
| Ralph Lauren Corp. | &nbsp;&nbsp; 6392 | &nbsp;&nbsp; 2317739 |
| Tapestry, Inc. | &nbsp;&nbsp; 17790 | &nbsp;&nbsp; 2765812 |
| Total |  | &nbsp;&nbsp; 5083551 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **42711684** |
| **Consumer Staples 5.1%** | **Consumer Staples 5.1%** | **Consumer Staples 5.1%** |
| **Beverages 0.6%** | **Beverages 0.6%** | **Beverages 0.6%** |
| Molson Coors Beverage Co., Class B | &nbsp;&nbsp; 51147 | &nbsp;&nbsp; 2505692 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Staples Distribution & Retail 1.2%** | **Consumer Staples Distribution & Retail 1.2%** | **Consumer Staples Distribution & Retail 1.2%** |
| Costco Wholesale Corp. | &nbsp;&nbsp; 818 | &nbsp;&nbsp; 826826 |
| Kroger Co. (The) | &nbsp;&nbsp; 52484 | &nbsp;&nbsp; 3581508 |
| Walmart, Inc. | &nbsp;&nbsp; 8042 | &nbsp;&nbsp; 1028974 |
| Total |  | &nbsp;&nbsp; 5437308 |
| **Food Products 1.0%** | **Food Products 1.0%** | **Food Products 1.0%** |
| Conagra Brands, Inc. | &nbsp;&nbsp; 61647 | &nbsp;&nbsp; 1186705 |
| Kraft Heinz Co. (The) | &nbsp;&nbsp; 122542 | &nbsp;&nbsp; 3015758 |
| Total |  | &nbsp;&nbsp; 4202463 |
| **Household Products 1.4%** | **Household Products 1.4%** | **Household Products 1.4%** |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 36792 | &nbsp;&nbsp; 6151623 |
| **Tobacco 0.9%** | **Tobacco 0.9%** | **Tobacco 0.9%** |
| Altria Group, Inc. | &nbsp;&nbsp; 58355 | &nbsp;&nbsp; 4028829 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **22325915** |
| **Energy 3.9%** | **Energy 3.9%** | **Energy 3.9%** |
| **Oil, Gas & Consumable Fuels 3.9%** | **Oil, Gas & Consumable Fuels 3.9%** | **Oil, Gas & Consumable Fuels 3.9%** |
| Chevron Corp. | &nbsp;&nbsp; 32181 | &nbsp;&nbsp; 6010124 |
| Exxon Mobil Corp. | &nbsp;&nbsp; 52446 | &nbsp;&nbsp; 7998015 |
| Valero Energy Corp. | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 3069600 |
| Total |  | &nbsp;&nbsp; 17077739 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **17077739** |
| **Financials 12.0%** | **Financials 12.0%** | **Financials 12.0%** |
| **Banks 3.1%** | **Banks 3.1%** | **Banks 3.1%** |
| Citigroup, Inc. | &nbsp;&nbsp; 37238 | &nbsp;&nbsp; 4103255 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 20339 | &nbsp;&nbsp; 6107802 |
| U.S. Bancorp | &nbsp;&nbsp; 63025 | &nbsp;&nbsp; 3444946 |
| Total |  | &nbsp;&nbsp; 13656003 |
| **Capital Markets 3.9%** | **Capital Markets 3.9%** | **Capital Markets 3.9%** |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 42292 | &nbsp;&nbsp; 4026198 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 4479 | &nbsp;&nbsp; 3850014 |
| Invesco Ltd. | &nbsp;&nbsp; 56930 | &nbsp;&nbsp; 1494982 |
| Moody's Corp. | &nbsp;&nbsp; 5828 | &nbsp;&nbsp; 2783395 |
| Morgan Stanley | &nbsp;&nbsp; 29110 | &nbsp;&nbsp; 4847106 |
| Total |  | &nbsp;&nbsp; 17001695 |
| **Consumer Finance 0.8%** | **Consumer Finance 0.8%** | **Consumer Finance 0.8%** |
| Synchrony Financial | &nbsp;&nbsp; 48876 | &nbsp;&nbsp; 3377820 |

---

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Financial Services 2.8%** | **Financial Services 2.8%** | **Financial Services 2.8%** |
| Berkshire Hathaway, Inc., Class B<sup>(a)</sup> <br>| &nbsp;&nbsp; 7565 | &nbsp;&nbsp; 3819947 |
| MasterCard, Inc., Class A | &nbsp;&nbsp; 11423 | &nbsp;&nbsp; 5908090 |
| Visa, Inc., Class A | &nbsp;&nbsp; 8843 | &nbsp;&nbsp; 2830998 |
| Total |  | &nbsp;&nbsp; 12559035 |
| **Insurance 1.4%** | **Insurance 1.4%** | **Insurance 1.4%** |
| Allstate Corp. (The) | &nbsp;&nbsp; 15505 | &nbsp;&nbsp; 3326133 |
| MetLife, Inc. | &nbsp;&nbsp; 39579 | &nbsp;&nbsp; 2852458 |
| Total |  | &nbsp;&nbsp; 6178591 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **52773144** |
| **Health Care 10.3%** | **Health Care 10.3%** | **Health Care 10.3%** |
| **Biotechnology 2.3%** | **Biotechnology 2.3%** | **Biotechnology 2.3%** |
| AbbVie, Inc. | &nbsp;&nbsp; 17510 | &nbsp;&nbsp; 4063721 |
| Amgen, Inc. | &nbsp;&nbsp; 5864 | &nbsp;&nbsp; 2276170 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp; 1848 | &nbsp;&nbsp; 1444526 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 4651 | &nbsp;&nbsp; 2310756 |
| Total |  | &nbsp;&nbsp; 10095173 |
| **Health Care Equipment & Supplies 0.5%** | **Health Care Equipment & Supplies 0.5%** | **Health Care Equipment & Supplies 0.5%** |
| Medtronic PLC | &nbsp;&nbsp; 21333 | &nbsp;&nbsp; 2083381 |
| **Health Care Providers & Services 2.2%** | **Health Care Providers & Services 2.2%** | **Health Care Providers & Services 2.2%** |
| Centene Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 64691 | &nbsp;&nbsp; 2903332 |
| CVS Health Corp. | &nbsp;&nbsp; 38401 | &nbsp;&nbsp; 3068240 |
| McKesson Corp. | &nbsp;&nbsp; 3805 | &nbsp;&nbsp; 3756943 |
| Total |  | &nbsp;&nbsp; 9728515 |
| **Life Sciences Tools & Services 1.3%** | **Life Sciences Tools & Services 1.3%** | **Life Sciences Tools & Services 1.3%** |
| Charles River Laboratories International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 17155 | &nbsp;&nbsp; 3061996 |
| IQVIA Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 8702 | &nbsp;&nbsp; 1556005 |
| Revvity, Inc. | &nbsp;&nbsp; 12249 | &nbsp;&nbsp; 1204199 |
| Total |  | &nbsp;&nbsp; 5822200 |
| **Pharmaceuticals 4.0%** | **Pharmaceuticals 4.0%** | **Pharmaceuticals 4.0%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 67697 | &nbsp;&nbsp; 4222262 |
| Eli Lilly & Co. | &nbsp;&nbsp; 3554 | &nbsp;&nbsp; 3738772 |
| Johnson & Johnson | &nbsp;&nbsp; 4489 | &nbsp;&nbsp; 1115202 |
| Merck & Co., Inc. | &nbsp;&nbsp; 9245 | &nbsp;&nbsp; 1144716 |
| Pfizer, Inc. | &nbsp;&nbsp; 144717 | &nbsp;&nbsp; 4001425 |
| Viatris, Inc. | &nbsp;&nbsp; 227214 | &nbsp;&nbsp; 3392305 |
| Total |  | &nbsp;&nbsp; 17614682 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **45343951** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Industrials 8.7%** | **Industrials 8.7%** | **Industrials 8.7%** |
| **Aerospace & Defense 1.6%** | **Aerospace & Defense 1.6%** | **Aerospace & Defense 1.6%** |
| General Dynamics Corp. | &nbsp;&nbsp; 10223 | &nbsp;&nbsp; 3650122 |
| Lockheed Martin Corp. | &nbsp;&nbsp; 5532 | &nbsp;&nbsp; 3640499 |
| Total |  | &nbsp;&nbsp; 7290621 |
| **Air Freight & Logistics 1.0%** | **Air Freight & Logistics 1.0%** | **Air Freight & Logistics 1.0%** |
| FedEx Corp. | &nbsp;&nbsp; 11055 | &nbsp;&nbsp; 4278285 |
| **Building Products 0.7%** | **Building Products 0.7%** | **Building Products 0.7%** |
| AO Smith Corp. | &nbsp;&nbsp; 42786 | &nbsp;&nbsp; 3337308 |
| **Construction & Engineering 0.3%** | **Construction & Engineering 0.3%** | **Construction & Engineering 0.3%** |
| EMCOR Group, Inc. | &nbsp;&nbsp; 1686 | &nbsp;&nbsp; 1221709 |
| **Electrical Equipment 0.6%** | **Electrical Equipment 0.6%** | **Electrical Equipment 0.6%** |
| Rockwell Automation, Inc. | &nbsp;&nbsp; 6768 | &nbsp;&nbsp; 2757621 |
| **Ground Transportation 0.9%** | **Ground Transportation 0.9%** | **Ground Transportation 0.9%** |
| Uber Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 29039 | &nbsp;&nbsp; 2190121 |
| Union Pacific Corp. | &nbsp;&nbsp; 6627 | &nbsp;&nbsp; 1756023 |
| Total |  | &nbsp;&nbsp; 3946144 |
| **Machinery 2.0%** | **Machinery 2.0%** | **Machinery 2.0%** |
| Nordson Corp. | &nbsp;&nbsp; 5038 | &nbsp;&nbsp; 1478351 |
| PACCAR, Inc. | &nbsp;&nbsp; 11033 | &nbsp;&nbsp; 1391151 |
| Pentair PLC | &nbsp;&nbsp; 25202 | &nbsp;&nbsp; 2499786 |
| Snap-On, Inc. | &nbsp;&nbsp; 8759 | &nbsp;&nbsp; 3374142 |
| Total |  | &nbsp;&nbsp; 8743430 |
| **Passenger Airlines 0.3%** | **Passenger Airlines 0.3%** | **Passenger Airlines 0.3%** |
| United Airlines Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 11306 | &nbsp;&nbsp; 1201828 |
| **Professional Services 1.3%** | **Professional Services 1.3%** | **Professional Services 1.3%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp; 12362 | &nbsp;&nbsp; 2649918 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp; 16886 | &nbsp;&nbsp; 3138601 |
| Total |  | &nbsp;&nbsp; 5788519 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **38565465** |
| **Information Technology 32.3%** | **Information Technology 32.3%** | **Information Technology 32.3%** |
| **Communications Equipment 2.0%** | **Communications Equipment 2.0%** | **Communications Equipment 2.0%** |
| Arista Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 30768 | &nbsp;&nbsp; 4107528 |
| Cisco Systems, Inc. | &nbsp;&nbsp; 60868 | &nbsp;&nbsp; 4836572 |
| Total |  | &nbsp;&nbsp; 8944100 |

---

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Electronic Equipment, Instruments & Components 1.5%** | **Electronic Equipment, Instruments & Components 1.5%** | **Electronic Equipment, Instruments & Components 1.5%** |
| Keysight Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12447 | &nbsp;&nbsp; 3825336 |
| TE Connectivity PLC | &nbsp;&nbsp; 12151 | &nbsp;&nbsp; 2796553 |
| Total |  | &nbsp;&nbsp; 6621889 |
| **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; 3934 | &nbsp;&nbsp; 787626 |
| Broadcom, Inc. | &nbsp;&nbsp; 38777 | &nbsp;&nbsp; 12391190 |
| KLA Corp. | &nbsp;&nbsp; 2156 | &nbsp;&nbsp; 3286930 |
| Lam Research Corp. | &nbsp;&nbsp; 23614 | &nbsp;&nbsp; 5523079 |
| Micron Technology, Inc. | &nbsp;&nbsp; 2568 | &nbsp;&nbsp; 1058966 |
| NVIDIA Corp. | &nbsp;&nbsp; 197353 | &nbsp;&nbsp; 34968978 |
| QUALCOMM, Inc. | &nbsp;&nbsp; 24223 | &nbsp;&nbsp; 3448386 |
| Total |  | &nbsp;&nbsp; 61465155 |
| **Software 8.0%** | **Software 8.0%** | **Software 8.0%** |
| Adobe, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 11284 | &nbsp;&nbsp; 2961035 |
| Autodesk, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3746 | &nbsp;&nbsp; 921029 |
| Intuit, Inc. | &nbsp;&nbsp; 2371 | &nbsp;&nbsp; 969810 |
| Microsoft Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 52696 | &nbsp;&nbsp; 20695827 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 30309 | &nbsp;&nbsp; 4158092 |
| Salesforce, Inc. | &nbsp;&nbsp; 16699 | &nbsp;&nbsp; 3252798 |
| ServiceNow, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 22622 | &nbsp;&nbsp; 2443402 |
| Total |  | &nbsp;&nbsp; 35401993 |
| **Technology Hardware, Storage & Peripherals 6.8%** | **Technology Hardware, Storage & Peripherals 6.8%** | **Technology Hardware, Storage & Peripherals 6.8%** |
| Apple, Inc. | &nbsp;&nbsp; 113190 | &nbsp;&nbsp; 29902534 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **142335671** |
| **Materials 1.8%** | **Materials 1.8%** | **Materials 1.8%** |
| **Chemicals 0.6%** | **Chemicals 0.6%** | **Chemicals 0.6%** |
| CF Industries Holdings, Inc. | &nbsp;&nbsp; 28463 | &nbsp;&nbsp; 2833207 |
| **Construction Materials 0.3%** | **Construction Materials 0.3%** | **Construction Materials 0.3%** |
| CRH PLC | &nbsp;&nbsp; 12060 | &nbsp;&nbsp; 1446959 |
| **Metals & Mining 0.9%** | **Metals & Mining 0.9%** | **Metals & Mining 0.9%** |
| Newmont Corp. | &nbsp;&nbsp; 29081 | &nbsp;&nbsp; 3780530 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **8060696** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Real Estate 1.9%** | **Real Estate 1.9%** | **Real Estate 1.9%** |
| **Hotel & Resort REITs 0.4%** | **Hotel & Resort REITs 0.4%** | **Hotel & Resort REITs 0.4%** |
| Host Hotels & Resorts, Inc. | &nbsp;&nbsp; 89274 | &nbsp;&nbsp; 1748878 |
| **Specialized REITs 1.5%** | **Specialized REITs 1.5%** | **Specialized REITs 1.5%** |
| American Tower Corp. | &nbsp;&nbsp; 18321 | &nbsp;&nbsp; 3515067 |
| SBA Communications Corp. | &nbsp;&nbsp; 15939 | &nbsp;&nbsp; 3206289 |
| Total |  | &nbsp;&nbsp; 6721356 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **8470234** |
| **Utilities 2.9%** | **Utilities 2.9%** | **Utilities 2.9%** |
| **Electric Utilities 2.2%** | **Electric Utilities 2.2%** | **Electric Utilities 2.2%** |
| Edison International | &nbsp;&nbsp; 40012 | &nbsp;&nbsp; 2990497 |
| Exelon Corp. | &nbsp;&nbsp; 71692 | &nbsp;&nbsp; 3546603 |
| PG&E Corp. | &nbsp;&nbsp; 168574 | &nbsp;&nbsp; 3202906 |
| Total |  | &nbsp;&nbsp; 9740006 |
| **Independent Power and Renewable Electricity Producers 0.7%** | **Independent Power and Renewable Electricity Producers 0.7%** | **Independent Power and Renewable Electricity Producers 0.7%** |
| AES Corp. (The) | &nbsp;&nbsp; 180584 | &nbsp;&nbsp; 3120492 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **12860498** |
| Total Common Stocks <br>(Cost $226,860,761) | Total Common Stocks <br>(Cost $226,860,761) | &nbsp;&nbsp; **434031788** |
| **Money Market Funds 1.5%** | **Money Market Funds 1.5%** | **Money Market Funds 1.5%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 6355627 | &nbsp;&nbsp; 6354355 |
| Total Money Market Funds <br>(Cost $6,353,715) | Total Money Market Funds <br>(Cost $6,353,715) | &nbsp;&nbsp; **6354355** |
| **Total Investments in Securities** <br>**(Cost: $233,214,476)** | **Total Investments in Securities** <br>**(Cost: $233,214,476)** | &nbsp;&nbsp; **440386143** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **206210** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **440592353** |

---

At February 28, 2026, securities and/or cash totaling $1,934,245 were pledged as collateral.

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**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 | 20 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 6889000 | &nbsp;&nbsp;&nbsp;&nbsp; 9855 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

**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 February 28, 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 year ended February 28, 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, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 4997088 | &nbsp;&nbsp; 68582240 | &nbsp;&nbsp; (67224932)<br>| &nbsp;&nbsp; (41)<br>| &nbsp;&nbsp; 6354355 | &nbsp;&nbsp; (1220)<br>| &nbsp;&nbsp; 268602 | &nbsp;&nbsp; 6355627 |

---

**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

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

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 February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 43506791 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 43506791 |
| Consumer Discretionary | 42711684 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42711684 |
| Consumer Staples | 22325915 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22325915 |
| Energy | 17077739 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17077739 |
| Financials | 52773144 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52773144 |
| Health Care | 45343951 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 45343951 |
| Industrials | 38565465 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38565465 |
| Information Technology | 142335671 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 142335671 |
| Materials | 8060696 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8060696 |
| Real Estate | 8470234 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8470234 |
| Utilities | 12860498 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12860498 |
| Total Common Stocks | 434031788 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 434031788 |
| Money Market Funds | 6354355 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6354355 |
| Total Investments in Securities | 440386143 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 440386143 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Futures Contracts | 9855 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9855 |
| Total | 440395998 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 440395998 |

---

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 Large Cap Enhanced Core Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $226,860,761) | $434031788 |
| Affiliated issuers (cost $6,353,715) | 6354355 |
| Receivable for: |  |
| Capital shares sold | 209568 |
| Dividends | 401773 |
| Foreign tax reclaims | 2183 |
| Expense reimbursement due from Investment Manager | 4846 |
| Prepaid expenses | 2868 |
| Total assets | 441007381 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 156062 |
| Variation margin for futures contracts | 34366 |
| Management services fees | 9116 |
| Distribution and/or service fees | 1164 |
| Transfer agent fees | 37962 |
| Compensation of chief compliance officer | 77 |
| Compensation of board members | 1764 |
| Other expenses | 29422 |
| Deferred compensation of board members | 145095 |
| Total liabilities | 415028 |
| **Net assets applicable to outstanding capital stock** | **$440592353** |
| **Represented by** |  |
| Paid in capital | 209582886 |
| Total distributable earnings (loss) | 231009467 |
| **Total - representing net assets applicable to outstanding capital stock** | **$440592353** |
| **Class A** |  |
| Net assets | $71315815 |
| Shares outstanding | 2517111 |
| Net asset value per share | $28.33 |
| **Institutional Class** |  |
| Net assets | $74908067 |
| Shares outstanding | 2651110 |
| Net asset value per share | $28.26 |
| **Institutional 3 Class** |  |
| Net assets | $233956225 |
| Shares outstanding | 8269832 |
| Net asset value per share | $28.29 |
| **Class R** |  |
| Net assets | $48753019 |
| Shares outstanding | 1731210 |
| Net asset value per share | $28.16 |
| **Class S** |  |
| Net assets | $11659227 |
| Shares outstanding | 412547 |
| Net asset value per share | $28.26 |

---

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $6649705 |
| Dividends — affiliated issuers | 268602 |
| Total income | 6918307 |
| Expenses: |  |
| Management services fees | 3605133 |
| Distribution and/or service fees |  |
| Class A | 176039 |
| Class R | 235530 |
| Transfer agent fees |  |
| Class A | 122289 |
| Institutional Class | 132626 |
| Institutional 3 Class | 12799 |
| Class R | 81759 |
| Class S | 20629 |
| Custodian fees | 11893 |
| Printing and postage fees | 20456 |
| Registration fees | 96382 |
| Accounting services fees | 33323 |
| Legal fees | 23491 |
| Interest on collateral | 508 |
| Compensation of chief compliance officer | 70 |
| Compensation of board members | 15781 |
| Deferred compensation of board members | 19999 |
| Other | 25901 |
| Total expenses | 4634608 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1879168)<br>|
| Expense reduction | (20)<br>|
| Total net expenses | 2755420 |
| **Net investment income** | 4162887 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 72642640 |
| Investments — affiliated issuers | (1220)<br>|
| Futures contracts | 1219456 |
| Net realized gain | 73860876 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 4793785 |
| Investments — affiliated issuers | (41)<br>|
| Futures contracts | 27827 |
| Net change in unrealized appreciation (depreciation) | 4821571 |
| Net realized and unrealized gain | 78682447 |
| **Net increase in net assets resulting from operations** | **$82845334** |

---

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $4162887 | &nbsp;&nbsp; $4753439 |
| Net realized gain | 73860876 | &nbsp;&nbsp; 58552986 |
| Net change in unrealized appreciation (depreciation) | 4821571 | &nbsp;&nbsp; 22307749 |
| Net increase in net assets resulting from operations | 82845334 | &nbsp;&nbsp; 85614174 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (8674781)<br>| &nbsp;&nbsp; (8397822)<br>|
| Advisor Class |  | &nbsp;&nbsp; (519111)<br>|
| Institutional Class | (9708283)<br>| &nbsp;&nbsp; (10592267)<br>|
| Institutional 3 Class | (33355156)<br>| &nbsp;&nbsp; (34902534)<br>|
| Class R | (5836866)<br>| &nbsp;&nbsp; (5794503)<br>|
| Class S | (1493833)<br>| &nbsp;&nbsp; (1144507)<br>|
| Total distributions to shareholders | (59068919)<br>| &nbsp;&nbsp; (61350744)<br>|
| Increase (decrease) in net assets from capital stock activity | (41724878)<br>| &nbsp;&nbsp; 32363535 |
| Total increase (decrease) in net assets | (17948463)<br>| &nbsp;&nbsp; 56626965 |
| Net assets at beginning of year | 458540816 | &nbsp;&nbsp; 401913851 |
| **Net assets at end of year** | **$440592353** | &nbsp;&nbsp; **$458540816** |

---

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 210934 | &nbsp;&nbsp;&nbsp;&nbsp; 5812350 | &nbsp;&nbsp;&nbsp;&nbsp; 300162 | &nbsp;&nbsp;&nbsp;&nbsp; 8478193 |
| Distributions reinvested | 227500 | &nbsp;&nbsp;&nbsp;&nbsp; 6397171 | &nbsp;&nbsp;&nbsp;&nbsp; 230910 | &nbsp;&nbsp;&nbsp;&nbsp; 6523521 |
| Shares redeemed | (450875)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12816614)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (331619)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9427120)<br>|
| Net increase (decrease) | (12441)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (607093)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 199453 | &nbsp;&nbsp;&nbsp;&nbsp; 5574594 |
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 49624 | &nbsp;&nbsp;&nbsp;&nbsp; 1359175 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19341 | &nbsp;&nbsp;&nbsp;&nbsp; 519110 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (497465)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14781257)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (428500)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12902972)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 324594 | &nbsp;&nbsp;&nbsp;&nbsp; 9269842 | &nbsp;&nbsp;&nbsp;&nbsp; 883543 | &nbsp;&nbsp;&nbsp;&nbsp; 26049288 |
| Distributions reinvested | 276774 | &nbsp;&nbsp;&nbsp;&nbsp; 7761526 | &nbsp;&nbsp;&nbsp;&nbsp; 300106 | &nbsp;&nbsp;&nbsp;&nbsp; 8452094 |
| Shares redeemed | (873339)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (24442523)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1122165)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (32149589)<br>|
| Net increase (decrease) | (271971)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7411155)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 61484 | &nbsp;&nbsp;&nbsp;&nbsp; 2351793 |
| Institutional 2 Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 9391 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (205151)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5408750)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (204801)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5399359)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 4426574 | &nbsp;&nbsp;&nbsp;&nbsp; 112613185 | &nbsp;&nbsp;&nbsp;&nbsp; 7781007 | &nbsp;&nbsp;&nbsp;&nbsp; 208792987 |
| Distributions reinvested | 886121 | &nbsp;&nbsp;&nbsp;&nbsp; 24799634 | &nbsp;&nbsp;&nbsp;&nbsp; 916282 | &nbsp;&nbsp;&nbsp;&nbsp; 25769785 |
| Shares redeemed | (6019653)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (171085877)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7185607)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (205092162)<br>|
| Net increase (decrease) | (706958)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (33673058)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1511682 | &nbsp;&nbsp;&nbsp;&nbsp; 29470610 |
| Class R |  |  |  |  |
| Shares sold | 278293 | &nbsp;&nbsp;&nbsp;&nbsp; 7816642 | &nbsp;&nbsp;&nbsp;&nbsp; 275175 | &nbsp;&nbsp;&nbsp;&nbsp; 7688731 |
| Distributions reinvested | 206046 | &nbsp;&nbsp;&nbsp;&nbsp; 5763433 | &nbsp;&nbsp;&nbsp;&nbsp; 203233 | &nbsp;&nbsp;&nbsp;&nbsp; 5711842 |
| Shares redeemed | (431738)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12093389)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (487349)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13737583)<br>|
| Net increase (decrease) | 52601 | &nbsp;&nbsp;&nbsp;&nbsp; 1486686 | &nbsp;&nbsp;&nbsp;&nbsp; (8941)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (337010)<br>|
| Class S |  |  |  |  |
| Shares sold | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 566336 | &nbsp;&nbsp;&nbsp;&nbsp; 16518927 |
| Distributions reinvested | 53315 | &nbsp;&nbsp;&nbsp;&nbsp; 1493833 | &nbsp;&nbsp;&nbsp;&nbsp; 39990 | &nbsp;&nbsp;&nbsp;&nbsp; 1144507 |
| Shares redeemed | (109163)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3014120)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (137932)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4057555)<br>|
| Net increase (decrease) | (55847)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1520258)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 468394 | &nbsp;&nbsp;&nbsp;&nbsp; 13605879 |
| **Total net increase (decrease)** | **(994616)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(41724878)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1598771** | &nbsp;&nbsp;&nbsp;&nbsp; **32363535** |

---

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

Columbia Large Cap Enhanced 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>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | $27.71 | 0.17 | 4.09 | 4.26 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (3.43)<br>| &nbsp;&nbsp; (3.64)<br>|
| Year Ended 2/28/2025 | $26.90 | 0.20 | 4.27 | 4.47 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (3.44)<br>| &nbsp;&nbsp; (3.66)<br>|
| Year Ended 2/29/2024 | $21.79 | 0.21 | 6.06 | 6.27 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.16)<br>|
| Year Ended 2/28/2023 | $25.71 | 0.20 | &nbsp;&nbsp; (2.31)<br>| &nbsp;&nbsp; (2.11)<br>| &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.81)<br>|
| Year Ended 2/28/2022 | $27.58 | 0.25 | 5.49 | 5.74 | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (7.35)<br>| &nbsp;&nbsp; (7.61)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $27.64 | 0.24 | 4.09 | 4.33 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (3.43)<br>| &nbsp;&nbsp; (3.71)<br>|
| Year Ended 2/28/2025 | $26.83 | 0.27 | 4.27 | 4.54 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (3.44)<br>| &nbsp;&nbsp; (3.73)<br>|
| Year Ended 2/29/2024 | $21.73 | 0.27 | 6.05 | 6.32 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.22)<br>|
| Year Ended 2/28/2023 | $25.66 | 0.26 | &nbsp;&nbsp; (2.32)<br>| &nbsp;&nbsp; (2.06)<br>| &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.87)<br>|
| Year Ended 2/28/2022 | $27.53 | 0.32 | 5.49 | 5.81 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (7.35)<br>| &nbsp;&nbsp; (7.68)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | $27.67 | 0.29 | 4.09 | 4.38 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.43)<br>| &nbsp;&nbsp; (3.76)<br>|
| Year Ended 2/28/2025 | $26.86 | 0.32 | 4.26 | 4.58 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.44)<br>| &nbsp;&nbsp; (3.77)<br>|
| Year Ended 2/29/2024 | $21.75 | 0.32 | 6.05 | 6.37 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.26)<br>|
| Year Ended 2/28/2023 | $25.68 | 0.30 | &nbsp;&nbsp; (2.31)<br>| &nbsp;&nbsp; (2.01)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.92)<br>|
| Year Ended 2/28/2022 | $27.54 | 0.37 | 5.51 | 5.88 | &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (7.35)<br>| &nbsp;&nbsp; (7.74)<br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | $27.57 | 0.10 | 4.06 | 4.16 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (3.43)<br>| &nbsp;&nbsp; (3.57)<br>|
| Year Ended 2/28/2025 | $26.78 | 0.13 | 4.25 | 4.38 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (3.44)<br>| &nbsp;&nbsp; (3.59)<br>|
| Year Ended 2/29/2024 | $21.70 | 0.15 | 6.03 | 6.18 | &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.10)<br>|
| Year Ended 2/28/2023 | $25.61 | 0.14 | &nbsp;&nbsp; (2.29)<br>| &nbsp;&nbsp; (2.15)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.76)<br>|
| Year Ended 2/28/2022 | $27.50 | 0.17 | 5.47 | 5.64 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (7.35)<br>| &nbsp;&nbsp; (7.53)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | $27.65 | 0.24 | 4.08 | 4.32 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (3.43)<br>| &nbsp;&nbsp; (3.71)<br>|
| Year Ended 2/28/2025<sup>(e)</sup> <br>| $28.92 | 0.11 | 1.14 | 1.25 | &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; (2.27)<br>| &nbsp;&nbsp; (2.52)<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%. |
| (e) | Class S shares commenced operations on October 2, 2024. Per share data and total return reflect activity from that date. |

---

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

Columbia Large Cap Enhanced Core 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; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $28.33 | &nbsp;&nbsp;&nbsp;&nbsp; 15.77%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.23% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $71316 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $27.71 | &nbsp;&nbsp;&nbsp;&nbsp; 16.75%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.21% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.72% | &nbsp;&nbsp;&nbsp;&nbsp; 85% | &nbsp;&nbsp;&nbsp;&nbsp; $70102 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $26.90 | &nbsp;&nbsp;&nbsp;&nbsp; 29.42%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.23% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 90% | &nbsp;&nbsp;&nbsp;&nbsp; $62679 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $21.79 | &nbsp;&nbsp;&nbsp;&nbsp; (7.84%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.24% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $50648 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $25.71 | &nbsp;&nbsp;&nbsp;&nbsp; 20.15%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.23% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.84% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.83% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $61024 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $28.26 | &nbsp;&nbsp;&nbsp;&nbsp; 16.08%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.58% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.86% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $74908 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $27.64 | &nbsp;&nbsp;&nbsp;&nbsp; 17.06%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.97% | &nbsp;&nbsp;&nbsp;&nbsp; 85% | &nbsp;&nbsp;&nbsp;&nbsp; $80800 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $26.83 | &nbsp;&nbsp;&nbsp;&nbsp; 29.76%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.14% | &nbsp;&nbsp;&nbsp;&nbsp; 90% | &nbsp;&nbsp;&nbsp;&nbsp; $76790 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $21.73 | &nbsp;&nbsp;&nbsp;&nbsp; (7.66%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.99% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.58% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.14% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $66112 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $25.66 | &nbsp;&nbsp;&nbsp;&nbsp; 20.49%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.59% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.08% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $88028 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $28.29 | &nbsp;&nbsp;&nbsp;&nbsp; 16.24%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.42% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.02% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $233956 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $27.67 | &nbsp;&nbsp;&nbsp;&nbsp; 17.21%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.42% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15% | &nbsp;&nbsp;&nbsp;&nbsp; 85% | &nbsp;&nbsp;&nbsp;&nbsp; $248411 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $26.86 | &nbsp;&nbsp;&nbsp;&nbsp; 29.99%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.40% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.33% | &nbsp;&nbsp;&nbsp;&nbsp; 90% | &nbsp;&nbsp;&nbsp;&nbsp; $200488 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $21.75 | &nbsp;&nbsp;&nbsp;&nbsp; (7.47%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.40% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.32% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $172478 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $25.68 | &nbsp;&nbsp;&nbsp;&nbsp; 20.73%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.40% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.25% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $193329 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $28.16 | &nbsp;&nbsp;&nbsp;&nbsp; 15.47%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.48% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.08% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $48753 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $27.57 | &nbsp;&nbsp;&nbsp;&nbsp; 16.48%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.46% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.07% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% | &nbsp;&nbsp;&nbsp;&nbsp; 85% | &nbsp;&nbsp;&nbsp;&nbsp; $46278 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $26.78 | &nbsp;&nbsp;&nbsp;&nbsp; 29.10%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.48% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.07% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 90% | &nbsp;&nbsp;&nbsp;&nbsp; $45195 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $21.70 | &nbsp;&nbsp;&nbsp;&nbsp; (8.08%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.49% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.08% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 92% | &nbsp;&nbsp;&nbsp;&nbsp; $42420 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $25.61 | &nbsp;&nbsp;&nbsp;&nbsp; 19.85%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.48% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.09% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.57% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $51549 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $28.26 | &nbsp;&nbsp;&nbsp;&nbsp; 16.04%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.58% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.86% | &nbsp;&nbsp;&nbsp;&nbsp; 72% | &nbsp;&nbsp;&nbsp;&nbsp; $11659 |
|  Year Ended 2/28/2025 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $27.65 | &nbsp;&nbsp;&nbsp;&nbsp; 4.02%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.58% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.99% | &nbsp;&nbsp;&nbsp;&nbsp; 85% | &nbsp;&nbsp;&nbsp;&nbsp; $12950 |

---

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

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Notes to Financial Statements

February 28, 2026

Note 1. Organization

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

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.

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Notes to Financial Statements (continued)

February 28, 2026

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

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Notes to Financial Statements (continued)

February 28, 2026

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

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Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 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; 9,855<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 year ended February 28, 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>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 1219456 |
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 27827 |

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The following table is a summary of the average daily outstanding volume by derivative instrument for the year ended February 28, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 7463359 |

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Notes to Financial Statements (continued)

February 28, 2026

**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.

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Notes to Financial Statements (continued)

February 28, 2026

**Distributions to shareholders**

Distributions from net investment income, if any, are declared and paid semi-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 effective management services fee rate for the year ended February 28, 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).

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Notes to Financial Statements (continued)

February 28, 2026

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 year ended February 28, 2026, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.17 |
| Institutional Class | 0.17 |
| Institutional 3 Class | 0.00 |
| Class R | 0.17 |
| Class S | 0.17 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 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. The Board of Trustees has approved, and the Fund has adopted, distribution and shareholder service plans (the Plans) applicable to certain share classes, which set the distribution and service fees for the Fund. These fees are calculated daily and are intended to compensate the Distributor and/or eligible selling and/or servicing agents for selling shares of the Fund and providing services to investors.

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

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

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, 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; **July 1, 2025** <br>**through** <br>**June 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;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**July 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;&nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.83 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.58 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;&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 |
| Class R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.58 |

---

Columbia Large Cap Enhanced Core Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, derivative investments, tax straddles, trustees' deferred compensation and earnings and profits distributed to shareholders on the redemption of shares. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Undistributed net** <br>**investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<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; (5605000)<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; 5605000 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 17473481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41595438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59068919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20591430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40759314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61350744 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 3734385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23804996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203615181 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 236780817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209166104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5550923)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203615181 |

---

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 $338,755,539 and $435,543,659, respectively, for the year ended February 28, 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 did not borrow or lend money under the Interfund Program during the year ended February 28, 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 Large Cap Enhanced Core Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

The Fund had no borrowings during the year ended February 28, 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 February 28, 2026, one unaffiliated shareholder of record owned 21.7% 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 24.8% 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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 Large Cap Enhanced Core Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Large Cap Enhanced Core Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Large Cap Enhanced Core Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Large Cap Enhanced Core Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | | | |
|:---|:---|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dividends** <br>**received** <br>**deduction**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Section** <br>**199A** <br>**dividends**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital** <br>**gain** <br>**dividend**<br>|
| 38.77% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36.82% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $68435484 |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.

Section 199A dividends. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents Section 199A dividends potentially eligible for a 20% deduction.

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Columbia Large Cap Enhanced Core Fund \| 2026

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**Columbia Large Cap Enhanced Core Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382img1384b3552.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/

ANN173_02_T01_(04/26)

------

![](g250382img7edbdc521.jpg)

Columbia Large Cap Index Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_998f5234-0abc-470c-b82c-2024b8568274_POI-CommonContent-Date-96_1) | 3 |
| [Statement of Assets and Liabilities](#xx_998f5234-0abc-470c-b82c-2024b8568274_FS-CommonContent-Date-96_1) | 14 |
| [Statement of Operations](#xx_998f5234-0abc-470c-b82c-2024b8568274_FS-CommonContent-Date-96_2) | 15 |
| [Statement of Changes in Net Assets](#xx_998f5234-0abc-470c-b82c-2024b8568274_FS-CommonContent-Date-96_3) | 16 |
| [Financial Highlights](#xx_998f5234-0abc-470c-b82c-2024b8568274_FIHI-CommonContent-Date-96_2) | 18 |
| [Notes to Financial Statements](#xx_998f5234-0abc-470c-b82c-2024b8568274_NTF-CommonContent-Date-96_1) | 20 |
| [Report of Independent Registered Public Accounting Firm](#xx_998f5234-0abc-470c-b82c-2024b8568274_AUD-CommonContent-Date-96_1) | 31 |
| [Federal Income Tax Information](#xx_998f5234-0abc-470c-b82c-2024b8568274_CCH-CommonContent-Date-96_1) | 32 |

---

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(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 98.6%** | **Common Stocks 98.6%** | **Common Stocks 98.6%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 10.4%** | **Communication Services 10.4%** | **Communication Services 10.4%** |
| **Diversified Telecommunication Services 0.9%** | **Diversified Telecommunication Services 0.9%** | **Diversified Telecommunication Services 0.9%** |
| AT&T, Inc. | &nbsp;&nbsp; 358629 | &nbsp;&nbsp; 10045198 |
| Comcast Corp., Class A | &nbsp;&nbsp; 183853 | &nbsp;&nbsp; 5692089 |
| Verizon Communications, Inc. | &nbsp;&nbsp; 213293 | &nbsp;&nbsp; 10694511 |
| Total |  | &nbsp;&nbsp; 26431798 |
| **Entertainment 1.3%** | **Entertainment 1.3%** | **Entertainment 1.3%** |
| Electronic Arts, Inc. | &nbsp;&nbsp; 11355 | &nbsp;&nbsp; 2277472 |
| Live Nation Entertainment, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7988 | &nbsp;&nbsp; 1295174 |
| Netflix, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 214350 | &nbsp;&nbsp; 20629044 |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 8786 | &nbsp;&nbsp; 1858063 |
| TKO Group Holdings, Inc. | &nbsp;&nbsp; 3354 | &nbsp;&nbsp; 750860 |
| Walt Disney Co. (The) | &nbsp;&nbsp; 90311 | &nbsp;&nbsp; 9576579 |
| Warner Bros Discovery, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 125351 | &nbsp;&nbsp; 3531138 |
| Total |  | &nbsp;&nbsp; 39918330 |
| **Interactive Media & Services 7.8%** | **Interactive Media & Services 7.8%** | **Interactive Media & Services 7.8%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp; 294310 | &nbsp;&nbsp; 91754086 |
| Alphabet, Inc., Class C | &nbsp;&nbsp; 235226 | &nbsp;&nbsp; 73256433 |
| Match Group, Inc. | &nbsp;&nbsp; 11942 | &nbsp;&nbsp; 377367 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp; 110171 | &nbsp;&nbsp; 71410639 |
| Total |  | &nbsp;&nbsp; 236798525 |
| **Media 0.2%** | **Media 0.2%** | **Media 0.2%** |
| Charter Communications, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 4451 | &nbsp;&nbsp; 1044338 |
| Fox Corp., Class A | &nbsp;&nbsp; 10540 | &nbsp;&nbsp; 593823 |
| Fox Corp., Class B | &nbsp;&nbsp; 7508 | &nbsp;&nbsp; 388389 |
| News Corp., Class A | &nbsp;&nbsp; 18944 | &nbsp;&nbsp; 460150 |
| News Corp., Class B | &nbsp;&nbsp; 6244 | &nbsp;&nbsp; 167214 |
| Omnicom Group, Inc. | &nbsp;&nbsp; 16136 | &nbsp;&nbsp; 1376239 |
| Paramount Skydance Corp., Class B | &nbsp;&nbsp; 15721 | &nbsp;&nbsp; 212391 |
| Trade Desk, Inc. (The), Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 22274 | &nbsp;&nbsp; 530567 |
| Total |  | &nbsp;&nbsp; 4773111 |
| **Wireless Telecommunication Services 0.2%** | **Wireless Telecommunication Services 0.2%** | **Wireless Telecommunication Services 0.2%** |
| T-Mobile US, Inc. | &nbsp;&nbsp; 24330 | &nbsp;&nbsp; 5281800 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **313203564** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Discretionary 9.8%** | **Consumer Discretionary 9.8%** | **Consumer Discretionary 9.8%** |
| **Automobile Components 0.0%** | **Automobile Components 0.0%** | **Automobile Components 0.0%** |
| Aptiv PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 10931 | &nbsp;&nbsp; 803866 |
| **Automobiles 2.1%** | **Automobiles 2.1%** | **Automobiles 2.1%** |
| Ford Motor Co. | &nbsp;&nbsp; 197976 | &nbsp;&nbsp; 2789482 |
| General Motors Co. | &nbsp;&nbsp; 47190 | &nbsp;&nbsp; 3714325 |
| Tesla, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 142144 | &nbsp;&nbsp; 57214381 |
| Total |  | &nbsp;&nbsp; 63718188 |
| **Broadline Retail 3.5%** | **Broadline Retail 3.5%** | **Broadline Retail 3.5%** |
| Amazon.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 492107 | &nbsp;&nbsp; 103342470 |
| eBay, Inc. | &nbsp;&nbsp; 22865 | &nbsp;&nbsp; 2077514 |
| Total |  | &nbsp;&nbsp; 105419984 |
| **Distributors 0.0%** | **Distributors 0.0%** | **Distributors 0.0%** |
| Genuine Parts Co. | &nbsp;&nbsp; 7037 | &nbsp;&nbsp; 839233 |
| Pool Corp. | &nbsp;&nbsp; 1658 | &nbsp;&nbsp; 376664 |
| Total |  | &nbsp;&nbsp; 1215897 |
| **Hotels, Restaurants & Leisure 1.8%** | **Hotels, Restaurants & Leisure 1.8%** | **Hotels, Restaurants & Leisure 1.8%** |
| Airbnb, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 21514 | &nbsp;&nbsp; 2906757 |
| Booking Holdings, Inc. | &nbsp;&nbsp; 1631 | &nbsp;&nbsp; 6914380 |
| Carnival Corp. | &nbsp;&nbsp; 54927 | &nbsp;&nbsp; 1732947 |
| Chipotle Mexican Grill, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 66889 | &nbsp;&nbsp; 2489609 |
| Darden Restaurants, Inc. | &nbsp;&nbsp; 5884 | &nbsp;&nbsp; 1258293 |
| Domino's Pizza, Inc. | &nbsp;&nbsp; 1572 | &nbsp;&nbsp; 632746 |
| DoorDash, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 18911 | &nbsp;&nbsp; 3337224 |
| Expedia Group, Inc. | &nbsp;&nbsp; 5919 | &nbsp;&nbsp; 1276669 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp; 11758 | &nbsp;&nbsp; 3665909 |
| Las Vegas Sands Corp. | &nbsp;&nbsp; 15391 | &nbsp;&nbsp; 872978 |
| Marriott International, Inc., Class A | &nbsp;&nbsp; 11267 | &nbsp;&nbsp; 3850272 |
| McDonald's Corp. | &nbsp;&nbsp; 36025 | &nbsp;&nbsp; 12286686 |
| MGM Resorts International<sup>(a)</sup> <br>| &nbsp;&nbsp; 10377 | &nbsp;&nbsp; 382496 |
| Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 23030 | &nbsp;&nbsp; 570914 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp; 12830 | &nbsp;&nbsp; 3989617 |
| Starbucks Corp. | &nbsp;&nbsp; 57511 | &nbsp;&nbsp; 5637228 |
| Wynn Resorts Ltd. | &nbsp;&nbsp; 4271 | &nbsp;&nbsp; 462079 |
| Yum! Brands, Inc. | &nbsp;&nbsp; 14045 | &nbsp;&nbsp; 2361807 |
| Total |  | &nbsp;&nbsp; 54628611 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Household Durables 0.3%** | **Household Durables 0.3%** | **Household Durables 0.3%** |
| D.R. Horton, Inc. | &nbsp;&nbsp; 13854 | &nbsp;&nbsp; 2222043 |
| Garmin Ltd. | &nbsp;&nbsp; 8270 | &nbsp;&nbsp; 2090904 |
| Lennar Corp., Class A | &nbsp;&nbsp; 10914 | &nbsp;&nbsp; 1248125 |
| NVR, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 144 | &nbsp;&nbsp; 1082562 |
| PulteGroup, Inc. | &nbsp;&nbsp; 9860 | &nbsp;&nbsp; 1352792 |
| Total |  | &nbsp;&nbsp; 7996426 |
| **Leisure Products 0.0%** | **Leisure Products 0.0%** | **Leisure Products 0.0%** |
| Hasbro, Inc. | &nbsp;&nbsp; 6744 | &nbsp;&nbsp; 671635 |
| **Specialty Retail 1.8%** | **Specialty Retail 1.8%** | **Specialty Retail 1.8%** |
| AutoZone, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 841 | &nbsp;&nbsp; 3158443 |
| Best Buy Co., Inc. | &nbsp;&nbsp; 9884 | &nbsp;&nbsp; 612511 |
| Carvana Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7154 | &nbsp;&nbsp; 2390581 |
| Home Depot, Inc. (The) | &nbsp;&nbsp; 50353 | &nbsp;&nbsp; 19170394 |
| Lowe's Companies, Inc. | &nbsp;&nbsp; 28370 | &nbsp;&nbsp; 7505851 |
| O'Reilly Automotive, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 42700 | &nbsp;&nbsp; 4008676 |
| Ross Stores, Inc. | &nbsp;&nbsp; 16452 | &nbsp;&nbsp; 3383189 |
| TJX Companies, Inc. (The) | &nbsp;&nbsp; 56299 | &nbsp;&nbsp; 9101296 |
| Tractor Supply Co. | &nbsp;&nbsp; 26730 | &nbsp;&nbsp; 1385683 |
| Ulta Beauty, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2268 | &nbsp;&nbsp; 1553104 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp; 6161 | &nbsp;&nbsp; 1267010 |
| Total |  | &nbsp;&nbsp; 53536738 |
| **Textiles, Apparel & Luxury Goods 0.3%** | **Textiles, Apparel & Luxury Goods 0.3%** | **Textiles, Apparel & Luxury Goods 0.3%** |
| Deckers Outdoor Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7373 | &nbsp;&nbsp; 864632 |
| lululemon athletica, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 5459 | &nbsp;&nbsp; 1010843 |
| NIKE, Inc., Class B | &nbsp;&nbsp; 60163 | &nbsp;&nbsp; 3740935 |
| Ralph Lauren Corp. | &nbsp;&nbsp; 1961 | &nbsp;&nbsp; 711059 |
| Tapestry, Inc. | &nbsp;&nbsp; 10352 | &nbsp;&nbsp; 1609425 |
| Total |  | &nbsp;&nbsp; 7936894 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **295928239** |
| **Consumer Staples 5.4%** | **Consumer Staples 5.4%** | **Consumer Staples 5.4%** |
| **Beverages 1.2%** | **Beverages 1.2%** | **Beverages 1.2%** |
| Brown-Forman Corp., Class B | &nbsp;&nbsp; 8908 | &nbsp;&nbsp; 257085 |
| Coca-Cola Co. (The) | &nbsp;&nbsp; 195842 | &nbsp;&nbsp; 15972873 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp; 7131 | &nbsp;&nbsp; 1125700 |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp; 68725 | &nbsp;&nbsp; 2080993 |
| Molson Coors Beverage Co., Class B | &nbsp;&nbsp; 8564 | &nbsp;&nbsp; 419550 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Monster Beverage Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 36079 | &nbsp;&nbsp; 3077539 |
| PepsiCo, Inc. | &nbsp;&nbsp; 69168 | &nbsp;&nbsp; 11740576 |
| Total |  | &nbsp;&nbsp; 34674316 |
| **Consumer Staples Distribution & Retail 2.0%** | **Consumer Staples Distribution & Retail 2.0%** | **Consumer Staples Distribution & Retail 2.0%** |
| Costco Wholesale Corp. | &nbsp;&nbsp; 22419 | &nbsp;&nbsp; 22660901 |
| Dollar General Corp. | &nbsp;&nbsp; 11134 | &nbsp;&nbsp; 1739576 |
| Dollar Tree, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 9596 | &nbsp;&nbsp; 1213702 |
| Kroger Co. (The) | &nbsp;&nbsp; 30841 | &nbsp;&nbsp; 2104590 |
| Sysco Corp. | &nbsp;&nbsp; 24224 | &nbsp;&nbsp; 2208260 |
| Target Corp. | &nbsp;&nbsp; 22986 | &nbsp;&nbsp; 2615577 |
| Walmart, Inc. | &nbsp;&nbsp; 221824 | &nbsp;&nbsp; 28382381 |
| Total |  | &nbsp;&nbsp; 60924987 |
| **Food Products 0.5%** | **Food Products 0.5%** | **Food Products 0.5%** |
| Archer-Daniels-Midland Co. | &nbsp;&nbsp; 24310 | &nbsp;&nbsp; 1678362 |
| Bunge Global SA | &nbsp;&nbsp; 6847 | &nbsp;&nbsp; 826091 |
| Campbell's Co. (The) | &nbsp;&nbsp; 9939 | &nbsp;&nbsp; 267856 |
| Conagra Brands, Inc. | &nbsp;&nbsp; 24198 | &nbsp;&nbsp; 465811 |
| General Mills, Inc. | &nbsp;&nbsp; 26983 | &nbsp;&nbsp; 1220441 |
| Hershey Co. (The) | &nbsp;&nbsp; 7495 | &nbsp;&nbsp; 1770919 |
| Hormel Foods Corp. | &nbsp;&nbsp; 14746 | &nbsp;&nbsp; 377498 |
| JM Smucker Co. (The) | &nbsp;&nbsp; 5397 | &nbsp;&nbsp; 625782 |
| Kraft Heinz Co. (The) | &nbsp;&nbsp; 43111 | &nbsp;&nbsp; 1060962 |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp; 7049 | &nbsp;&nbsp; 339691 |
| McCormick & Co., Inc. | &nbsp;&nbsp; 12810 | &nbsp;&nbsp; 910022 |
| Mondelez International, Inc., Class A | &nbsp;&nbsp; 65274 | &nbsp;&nbsp; 4019573 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp; 14318 | &nbsp;&nbsp; 930527 |
| Total |  | &nbsp;&nbsp; 14493535 |
| **Household Products 0.9%** | **Household Products 0.9%** | **Household Products 0.9%** |
| Church & Dwight Co., Inc. | &nbsp;&nbsp; 12147 | &nbsp;&nbsp; 1273735 |
| Clorox Co. (The) | &nbsp;&nbsp; 6170 | &nbsp;&nbsp; 784577 |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 40776 | &nbsp;&nbsp; 4042533 |
| Kimberly-Clark Corp. | &nbsp;&nbsp; 16787 | &nbsp;&nbsp; 1870743 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 118206 | &nbsp;&nbsp; 19764043 |
| Total |  | &nbsp;&nbsp; 27735631 |
| **Personal Care Products 0.1%** | **Personal Care Products 0.1%** | **Personal Care Products 0.1%** |
| Estee Lauder Companies, Inc. (The), Class A | &nbsp;&nbsp; 12437 | &nbsp;&nbsp; 1361478 |
| Kenvue, Inc. | &nbsp;&nbsp; 96913 | &nbsp;&nbsp; 1852977 |
| Total |  | &nbsp;&nbsp; 3214455 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Tobacco 0.7%** | **Tobacco 0.7%** | **Tobacco 0.7%** |
| Altria Group, Inc. | &nbsp;&nbsp; 84918 | &nbsp;&nbsp; 5862739 |
| Philip Morris International, Inc. | &nbsp;&nbsp; 78744 | &nbsp;&nbsp; 14711741 |
| Total |  | &nbsp;&nbsp; 20574480 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **161617404** |
| **Energy 3.4%** | **Energy 3.4%** | **Energy 3.4%** |
| **Energy Equipment & Services 0.3%** | **Energy Equipment & Services 0.3%** | **Energy Equipment & Services 0.3%** |
| Baker Hughes Co. | &nbsp;&nbsp; 49917 | &nbsp;&nbsp; 3257583 |
| Halliburton Co. | &nbsp;&nbsp; 42575 | &nbsp;&nbsp; 1532700 |
| SLB Ltd. | &nbsp;&nbsp; 75572 | &nbsp;&nbsp; 3879867 |
| Total |  | &nbsp;&nbsp; 8670150 |
| **Oil, Gas & Consumable Fuels 3.1%** | **Oil, Gas & Consumable Fuels 3.1%** | **Oil, Gas & Consumable Fuels 3.1%** |
| APA Corp. | &nbsp;&nbsp; 17941 | &nbsp;&nbsp; 544868 |
| Chevron Corp. | &nbsp;&nbsp; 95745 | &nbsp;&nbsp; 17881336 |
| ConocoPhillips Co. | &nbsp;&nbsp; 62510 | &nbsp;&nbsp; 7092385 |
| Coterra Energy, Inc. | &nbsp;&nbsp; 38515 | &nbsp;&nbsp; 1178174 |
| Devon Energy Corp. | &nbsp;&nbsp; 31733 | &nbsp;&nbsp; 1381338 |
| Diamondback Energy, Inc. | &nbsp;&nbsp; 9421 | &nbsp;&nbsp; 1640008 |
| EOG Resources, Inc. | &nbsp;&nbsp; 27448 | &nbsp;&nbsp; 3405748 |
| EQT Corp. | &nbsp;&nbsp; 31569 | &nbsp;&nbsp; 1938968 |
| Expand Energy Corp. | &nbsp;&nbsp; 12048 | &nbsp;&nbsp; 1300220 |
| Exxon Mobil Corp. | &nbsp;&nbsp; 213330 | &nbsp;&nbsp; 32532825 |
| Kinder Morgan, Inc. | &nbsp;&nbsp; 99037 | &nbsp;&nbsp; 3294961 |
| Marathon Petroleum Corp. | &nbsp;&nbsp; 15207 | &nbsp;&nbsp; 3014179 |
| Occidental Petroleum Corp. | &nbsp;&nbsp; 36382 | &nbsp;&nbsp; 1931157 |
| ONEOK, Inc. | &nbsp;&nbsp; 31830 | &nbsp;&nbsp; 2634569 |
| Phillips 66 | &nbsp;&nbsp; 20382 | &nbsp;&nbsp; 3145554 |
| Targa Resources Corp. | &nbsp;&nbsp; 10859 | &nbsp;&nbsp; 2560552 |
| Texas Pacific Land Corp. | &nbsp;&nbsp; 2929 | &nbsp;&nbsp; 1535645 |
| Valero Energy Corp. | &nbsp;&nbsp; 15429 | &nbsp;&nbsp; 3157391 |
| Williams Companies, Inc. (The) | &nbsp;&nbsp; 61777 | &nbsp;&nbsp; 4615977 |
| Total |  | &nbsp;&nbsp; 94785855 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **103456005** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Financials 12.3%** | **Financials 12.3%** | **Financials 12.3%** |
| **Banks 3.4%** | **Banks 3.4%** | **Banks 3.4%** |
| Bank of America Corp. | &nbsp;&nbsp; 339853 | &nbsp;&nbsp; 16934875 |
| Citigroup, Inc. | &nbsp;&nbsp; 90514 | &nbsp;&nbsp; 9973738 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp; 21726 | &nbsp;&nbsp; 1307688 |
| Fifth Third Bancorp | &nbsp;&nbsp; 45498 | &nbsp;&nbsp; 2250786 |
| Huntington Bancshares, Inc. | &nbsp;&nbsp; 102852 | &nbsp;&nbsp; 1727914 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 137709 | &nbsp;&nbsp; 41354013 |
| KeyCorp | &nbsp;&nbsp; 46994 | &nbsp;&nbsp; 974656 |
| M&T Bank Corp. | &nbsp;&nbsp; 7775 | &nbsp;&nbsp; 1687019 |
| PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp; 19838 | &nbsp;&nbsp; 4212599 |
| Regions Financial Corp. | &nbsp;&nbsp; 44358 | &nbsp;&nbsp; 1234483 |
| Truist Financial Corp. | &nbsp;&nbsp; 64713 | &nbsp;&nbsp; 3190998 |
| U.S. Bancorp | &nbsp;&nbsp; 78633 | &nbsp;&nbsp; 4298080 |
| Wells Fargo & Co. | &nbsp;&nbsp; 158794 | &nbsp;&nbsp; 12933771 |
| Total |  | &nbsp;&nbsp; 102080620 |
| **Capital Markets 3.1%** | **Capital Markets 3.1%** | **Capital Markets 3.1%** |
| Ameriprise Financial, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 4700 | &nbsp;&nbsp; 2209564 |
| Ares Management Corp., Class A | &nbsp;&nbsp; 10421 | &nbsp;&nbsp; 1167256 |
| Bank of New York Mellon Corp. (The) | &nbsp;&nbsp; 35276 | &nbsp;&nbsp; 4201372 |
| Blackrock, Inc. | &nbsp;&nbsp; 7299 | &nbsp;&nbsp; 7760516 |
| Blackstone, Inc. | &nbsp;&nbsp; 37355 | &nbsp;&nbsp; 4234936 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp; 5294 | &nbsp;&nbsp; 1586718 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 84495 | &nbsp;&nbsp; 8043924 |
| CME Group, Inc. | &nbsp;&nbsp; 18241 | &nbsp;&nbsp; 5827999 |
| Coinbase Global, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 11542 | &nbsp;&nbsp; 2029661 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp; 1895 | &nbsp;&nbsp; 410855 |
| Franklin Resources, Inc. | &nbsp;&nbsp; 15549 | &nbsp;&nbsp; 412670 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 15172 | &nbsp;&nbsp; 13041396 |
| Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp; 22529 | &nbsp;&nbsp; 1603839 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp; 28843 | &nbsp;&nbsp; 4734002 |
| Invesco Ltd. | &nbsp;&nbsp; 22516 | &nbsp;&nbsp; 591270 |
| KKR & Co., Inc., Class A | &nbsp;&nbsp; 34719 | &nbsp;&nbsp; 3044162 |
| Moody's Corp. | &nbsp;&nbsp; 7761 | &nbsp;&nbsp; 3706576 |
| Morgan Stanley | &nbsp;&nbsp; 61102 | &nbsp;&nbsp; 10174094 |
| MSCI, Inc. | &nbsp;&nbsp; 3801 | &nbsp;&nbsp; 2173526 |
| Nasdaq, Inc. | &nbsp;&nbsp; 22819 | &nbsp;&nbsp; 1998488 |
| Northern Trust Corp. | &nbsp;&nbsp; 9567 | &nbsp;&nbsp; 1368942 |
| Raymond James Financial, Inc. | &nbsp;&nbsp; 8919 | &nbsp;&nbsp; 1365321 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Robinhood Markets, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 39779 | &nbsp;&nbsp; 3017237 |
| S&P Global, Inc. | &nbsp;&nbsp; 15682 | &nbsp;&nbsp; 6929564 |
| State Street Corp. | &nbsp;&nbsp; 14129 | &nbsp;&nbsp; 1817272 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp; 11040 | &nbsp;&nbsp; 1044715 |
| Total |  | &nbsp;&nbsp; 94495875 |
| **Consumer Finance 0.5%** | **Consumer Finance 0.5%** | **Consumer Finance 0.5%** |
| American Express Co. | &nbsp;&nbsp; 27180 | &nbsp;&nbsp; 8395902 |
| Capital One Financial Corp. | &nbsp;&nbsp; 32159 | &nbsp;&nbsp; 6291587 |
| Synchrony Financial | &nbsp;&nbsp; 18220 | &nbsp;&nbsp; 1259184 |
| Total |  | &nbsp;&nbsp; 15946673 |
| **Financial Services 3.6%** | **Financial Services 3.6%** | **Financial Services 3.6%** |
| Apollo Global Management, Inc. | &nbsp;&nbsp; 23489 | &nbsp;&nbsp; 2456949 |
| Berkshire Hathaway, Inc., Class B<sup>(a)</sup> <br>| &nbsp;&nbsp; 92762 | &nbsp;&nbsp; 46840172 |
| Block, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 27704 | &nbsp;&nbsp; 1764745 |
| Corpay, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3539 | &nbsp;&nbsp; 1150529 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp; 26196 | &nbsp;&nbsp; 1334948 |
| Fiserv, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 27208 | &nbsp;&nbsp; 1694786 |
| Global Payments, Inc. | &nbsp;&nbsp; 11976 | &nbsp;&nbsp; 915685 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp; 3661 | &nbsp;&nbsp; 594766 |
| MasterCard, Inc., Class A | &nbsp;&nbsp; 41478 | &nbsp;&nbsp; 21452836 |
| PayPal Holdings, Inc. | &nbsp;&nbsp; 47331 | &nbsp;&nbsp; 2187166 |
| Visa, Inc., Class A | &nbsp;&nbsp; 85371 | &nbsp;&nbsp; 27330672 |
| Total |  | &nbsp;&nbsp; 107723254 |
| **Insurance 1.7%** | **Insurance 1.7%** | **Insurance 1.7%** |
| Aflac, Inc. | &nbsp;&nbsp; 23862 | &nbsp;&nbsp; 2694736 |
| Allstate Corp. (The) | &nbsp;&nbsp; 13237 | &nbsp;&nbsp; 2839601 |
| American International Group, Inc. | &nbsp;&nbsp; 27295 | &nbsp;&nbsp; 2196975 |
| Aon PLC, Class A | &nbsp;&nbsp; 10873 | &nbsp;&nbsp; 3647565 |
| Arch Capital Group Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 18266 | &nbsp;&nbsp; 1829340 |
| Arthur J Gallagher & Co. | &nbsp;&nbsp; 12991 | &nbsp;&nbsp; 2964546 |
| Assurant, Inc. | &nbsp;&nbsp; 2533 | &nbsp;&nbsp; 581552 |
| Brown & Brown, Inc. | &nbsp;&nbsp; 14853 | &nbsp;&nbsp; 1066742 |
| Chubb Ltd. | &nbsp;&nbsp; 18515 | &nbsp;&nbsp; 6311023 |
| Cincinnati Financial Corp. | &nbsp;&nbsp; 7892 | &nbsp;&nbsp; 1294130 |
| Erie Indemnity Co., Class A | &nbsp;&nbsp; 1285 | &nbsp;&nbsp; 346230 |
| Everest Group Ltd. | &nbsp;&nbsp; 2124 | &nbsp;&nbsp; 712581 |
| Globe Life, Inc. | &nbsp;&nbsp; 4027 | &nbsp;&nbsp; 584962 |
| Hartford Insurance Group, Inc. (The) | &nbsp;&nbsp; 14096 | &nbsp;&nbsp; 1985140 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Loews Corp. | &nbsp;&nbsp; 8572 | &nbsp;&nbsp; 943091 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp; 24783 | &nbsp;&nbsp; 4627977 |
| MetLife, Inc. | &nbsp;&nbsp; 27998 | &nbsp;&nbsp; 2017816 |
| Principal Financial Group, Inc. | &nbsp;&nbsp; 10113 | &nbsp;&nbsp; 964982 |
| Progressive Corp. (The) | &nbsp;&nbsp; 29664 | &nbsp;&nbsp; 6338010 |
| Prudential Financial, Inc. | &nbsp;&nbsp; 17705 | &nbsp;&nbsp; 1741818 |
| Travelers Companies, Inc. (The) | &nbsp;&nbsp; 11284 | &nbsp;&nbsp; 3482694 |
| Willis Towers Watson PLC | &nbsp;&nbsp; 4844 | &nbsp;&nbsp; 1478244 |
| WR Berkley Corp. | &nbsp;&nbsp; 15187 | &nbsp;&nbsp; 1088908 |
| Total |  | &nbsp;&nbsp; 51738663 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **371985085** |
| **Health Care 9.7%** | **Health Care 9.7%** | **Health Care 9.7%** |
| **Biotechnology 1.8%** | **Biotechnology 1.8%** | **Biotechnology 1.8%** |
| AbbVie, Inc. | &nbsp;&nbsp; 89405 | &nbsp;&nbsp; 20749113 |
| Amgen, Inc. | &nbsp;&nbsp; 27240 | &nbsp;&nbsp; 10573478 |
| Biogen, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7421 | &nbsp;&nbsp; 1423496 |
| Gilead Sciences, Inc. | &nbsp;&nbsp; 62761 | &nbsp;&nbsp; 9348251 |
| Incyte Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 8342 | &nbsp;&nbsp; 844794 |
| Moderna, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 17589 | &nbsp;&nbsp; 942243 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp; 5098 | &nbsp;&nbsp; 3984954 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12835 | &nbsp;&nbsp; 6376813 |
| Total |  | &nbsp;&nbsp; 54243142 |
| **Health Care Equipment & Supplies 1.9%** | **Health Care Equipment & Supplies 1.9%** | **Health Care Equipment & Supplies 1.9%** |
| Abbott Laboratories | &nbsp;&nbsp; 87963 | &nbsp;&nbsp; 10234495 |
| Align Technology, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3375 | &nbsp;&nbsp; 641587 |
| Baxter International, Inc. | &nbsp;&nbsp; 26004 | &nbsp;&nbsp; 529701 |
| Becton Dickinson & Co. | &nbsp;&nbsp; 14499 | &nbsp;&nbsp; 2558784 |
| Boston Scientific Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 74991 | &nbsp;&nbsp; 5763058 |
| Cooper Cos, Inc. (The)<sup>(a)</sup> <br>| &nbsp;&nbsp; 10057 | &nbsp;&nbsp; 841469 |
| DexCom, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 19729 | &nbsp;&nbsp; 1448700 |
| Edwards Lifesciences Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 29355 | &nbsp;&nbsp; 2538327 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp; 23043 | &nbsp;&nbsp; 1941834 |
| Hologic, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 11259 | &nbsp;&nbsp; 848478 |
| IDEXX Laboratories, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 4039 | &nbsp;&nbsp; 2652532 |
| Insulet Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3559 | &nbsp;&nbsp; 877685 |
| Intuitive Surgical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 17933 | &nbsp;&nbsp; 9029445 |
| Medtronic PLC | &nbsp;&nbsp; 64883 | &nbsp;&nbsp; 6336474 |
| ResMed, Inc. | &nbsp;&nbsp; 7384 | &nbsp;&nbsp; 1892224 |
| Solventum Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7458 | &nbsp;&nbsp; 553384 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| STERIS PLC | &nbsp;&nbsp; 4965 | &nbsp;&nbsp; 1252918 |
| Stryker Corp. | &nbsp;&nbsp; 17411 | &nbsp;&nbsp; 6746066 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp; 10025 | &nbsp;&nbsp; 986861 |
| Total |  | &nbsp;&nbsp; 57674022 |
| **Health Care Providers & Services 1.6%** | **Health Care Providers & Services 1.6%** | **Health Care Providers & Services 1.6%** |
| Cardinal Health, Inc. | &nbsp;&nbsp; 12019 | &nbsp;&nbsp; 2755115 |
| Cencora, Inc. | &nbsp;&nbsp; 9808 | &nbsp;&nbsp; 3649949 |
| Centene Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 23621 | &nbsp;&nbsp; 1060111 |
| Cigna Group (The) | &nbsp;&nbsp; 13513 | &nbsp;&nbsp; 3916338 |
| CVS Health Corp. | &nbsp;&nbsp; 64216 | &nbsp;&nbsp; 5130859 |
| DaVita, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1786 | &nbsp;&nbsp; 279152 |
| Elevance Health, Inc. | &nbsp;&nbsp; 11242 | &nbsp;&nbsp; 3597440 |
| HCA Healthcare, Inc. | &nbsp;&nbsp; 8080 | &nbsp;&nbsp; 4279976 |
| Henry Schein, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 5062 | &nbsp;&nbsp; 417058 |
| Humana, Inc. | &nbsp;&nbsp; 6084 | &nbsp;&nbsp; 1159245 |
| Labcorp Holdings, Inc. | &nbsp;&nbsp; 4194 | &nbsp;&nbsp; 1212569 |
| McKesson Corp. | &nbsp;&nbsp; 6244 | &nbsp;&nbsp; 6165138 |
| Molina Healthcare, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 400530 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp; 5627 | &nbsp;&nbsp; 1192418 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp; 45823 | &nbsp;&nbsp; 13438511 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp; 2794 | &nbsp;&nbsp; 575843 |
| Total |  | &nbsp;&nbsp; 49230252 |
| **Life Sciences Tools & Services 0.9%** | **Life Sciences Tools & Services 0.9%** | **Life Sciences Tools & Services 0.9%** |
| Agilent Technologies, Inc. | &nbsp;&nbsp; 14341 | &nbsp;&nbsp; 1740710 |
| Bio-Techne Corp. | &nbsp;&nbsp; 7882 | &nbsp;&nbsp; 465038 |
| Charles River Laboratories International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2490 | &nbsp;&nbsp; 444440 |
| Danaher Corp. | &nbsp;&nbsp; 31801 | &nbsp;&nbsp; 6698563 |
| IQVIA Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 8615 | &nbsp;&nbsp; 1540448 |
| Mettler-Toledo International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1033 | &nbsp;&nbsp; 1411791 |
| Revvity, Inc. | &nbsp;&nbsp; 5735 | &nbsp;&nbsp; 563808 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp; 19006 | &nbsp;&nbsp; 9904217 |
| Waters Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 4974 | &nbsp;&nbsp; 1588596 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp; 3639 | &nbsp;&nbsp; 925543 |
| Total |  | &nbsp;&nbsp; 25283154 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Pharmaceuticals 3.5%** | **Pharmaceuticals 3.5%** | **Pharmaceuticals 3.5%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 102981 | &nbsp;&nbsp; 6422925 |
| Eli Lilly & Co. | &nbsp;&nbsp; 40172 | &nbsp;&nbsp; 42260542 |
| Johnson & Johnson | &nbsp;&nbsp; 121877 | &nbsp;&nbsp; 30277903 |
| Merck & Co., Inc. | &nbsp;&nbsp; 125557 | &nbsp;&nbsp; 15546468 |
| Pfizer, Inc. | &nbsp;&nbsp; 287618 | &nbsp;&nbsp; 7952638 |
| Viatris, Inc. | &nbsp;&nbsp; 58264 | &nbsp;&nbsp; 869882 |
| Zoetis, Inc. | &nbsp;&nbsp; 22293 | &nbsp;&nbsp; 2922612 |
| Total |  | &nbsp;&nbsp; 106252970 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **292683540** |
| **Industrials 9.1%** | **Industrials 9.1%** | **Industrials 9.1%** |
| **Aerospace & Defense 2.4%** | **Aerospace & Defense 2.4%** | **Aerospace & Defense 2.4%** |
| Axon Enterprise, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3992 | &nbsp;&nbsp; 2165261 |
| Boeing Co. (The)<sup>(a)</sup> <br>| &nbsp;&nbsp; 39611 | &nbsp;&nbsp; 9012691 |
| General Dynamics Corp. | &nbsp;&nbsp; 12825 | &nbsp;&nbsp; 4579166 |
| General Electric Co. | &nbsp;&nbsp; 53359 | &nbsp;&nbsp; 18262651 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp; 20339 | &nbsp;&nbsp; 5339598 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp; 1985 | &nbsp;&nbsp; 882372 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp; 9462 | &nbsp;&nbsp; 3449277 |
| Lockheed Martin Corp. | &nbsp;&nbsp; 10301 | &nbsp;&nbsp; 6778882 |
| Northrop Grumman Corp. | &nbsp;&nbsp; 6786 | &nbsp;&nbsp; 4915643 |
| RTX Corp. | &nbsp;&nbsp; 67824 | &nbsp;&nbsp; 13742499 |
| Textron, Inc. | &nbsp;&nbsp; 8914 | &nbsp;&nbsp; 879366 |
| TransDigm Group, Inc. | &nbsp;&nbsp; 2849 | &nbsp;&nbsp; 3711649 |
| Total |  | &nbsp;&nbsp; 73719055 |
| **Air Freight & Logistics 0.3%** | **Air Freight & Logistics 0.3%** | **Air Freight & Logistics 0.3%** |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp; 5976 | &nbsp;&nbsp; 1107054 |
| Expeditors International of Washington, Inc. | &nbsp;&nbsp; 6780 | &nbsp;&nbsp; 983303 |
| FedEx Corp. | &nbsp;&nbsp; 10981 | &nbsp;&nbsp; 4249647 |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp; 37383 | &nbsp;&nbsp; 4334933 |
| Total |  | &nbsp;&nbsp; 10674937 |
| **Building Products 0.5%** | **Building Products 0.5%** | **Building Products 0.5%** |
| Allegion PLC | &nbsp;&nbsp; 4352 | &nbsp;&nbsp; 701325 |
| AO Smith Corp. | &nbsp;&nbsp; 5735 | &nbsp;&nbsp; 447330 |
| Builders FirstSource, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 5594 | &nbsp;&nbsp; 583398 |
| Carrier Global Corp. | &nbsp;&nbsp; 40048 | &nbsp;&nbsp; 2579091 |
| Johnson Controls International PLC | &nbsp;&nbsp; 30915 | &nbsp;&nbsp; 4461035 |
| Lennox International, Inc. | &nbsp;&nbsp; 1615 | &nbsp;&nbsp; 920453 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Masco Corp. | &nbsp;&nbsp; 10507 | &nbsp;&nbsp; 752511 |
| Trane Technologies PLC | &nbsp;&nbsp; 11217 | &nbsp;&nbsp; 5185844 |
| Total |  | &nbsp;&nbsp; 15630987 |
| **Commercial Services & Supplies 0.5%** | **Commercial Services & Supplies 0.5%** | **Commercial Services & Supplies 0.5%** |
| Cintas Corp. | &nbsp;&nbsp; 17280 | &nbsp;&nbsp; 3475526 |
| Copart, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 45042 | &nbsp;&nbsp; 1715650 |
| Republic Services, Inc. | &nbsp;&nbsp; 10179 | &nbsp;&nbsp; 2330991 |
| Rollins, Inc. | &nbsp;&nbsp; 14847 | &nbsp;&nbsp; 904034 |
| Veralto Corp. | &nbsp;&nbsp; 12560 | &nbsp;&nbsp; 1223721 |
| Waste Management, Inc. | &nbsp;&nbsp; 18749 | &nbsp;&nbsp; 4515509 |
| Total |  | &nbsp;&nbsp; 14165431 |
| **Construction & Engineering 0.3%** | **Construction & Engineering 0.3%** | **Construction & Engineering 0.3%** |
| Comfort Systems U.S.A., Inc. | &nbsp;&nbsp; 1780 | &nbsp;&nbsp; 2544279 |
| EMCOR Group, Inc. | &nbsp;&nbsp; 2265 | &nbsp;&nbsp; 1641264 |
| Quanta Services, Inc. | &nbsp;&nbsp; 7543 | &nbsp;&nbsp; 4247312 |
| Total |  | &nbsp;&nbsp; 8432855 |
| **Electrical Equipment 1.0%** | **Electrical Equipment 1.0%** | **Electrical Equipment 1.0%** |
| AMETEK, Inc. | &nbsp;&nbsp; 11645 | &nbsp;&nbsp; 2785717 |
| Eaton Corp. PLC | &nbsp;&nbsp; 19648 | &nbsp;&nbsp; 7386076 |
| Emerson Electric Co. | &nbsp;&nbsp; 28419 | &nbsp;&nbsp; 4284164 |
| GE Vernova, Inc. | &nbsp;&nbsp; 13725 | &nbsp;&nbsp; 11990160 |
| Generac Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2969 | &nbsp;&nbsp; 669124 |
| Hubbell, Inc. | &nbsp;&nbsp; 2688 | &nbsp;&nbsp; 1375261 |
| Rockwell Automation, Inc. | &nbsp;&nbsp; 5680 | &nbsp;&nbsp; 2314316 |
| Total |  | &nbsp;&nbsp; 30804818 |
| **Ground Transportation 0.9%** | **Ground Transportation 0.9%** | **Ground Transportation 0.9%** |
| CSX Corp. | &nbsp;&nbsp; 94198 | &nbsp;&nbsp; 4021313 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp; 3805 | &nbsp;&nbsp; 888125 |
| Norfolk Southern Corp. | &nbsp;&nbsp; 11351 | &nbsp;&nbsp; 3572614 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp; 9308 | &nbsp;&nbsp; 1889989 |
| Uber Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 105109 | &nbsp;&nbsp; 7927321 |
| Union Pacific Corp. | &nbsp;&nbsp; 30007 | &nbsp;&nbsp; 7951255 |
| Total |  | &nbsp;&nbsp; 26250617 |
| **Industrial Conglomerates 0.4%** | **Industrial Conglomerates 0.4%** | **Industrial Conglomerates 0.4%** |
| 3M Co. | &nbsp;&nbsp; 26873 | &nbsp;&nbsp; 4442644 |
| Honeywell International, Inc. | &nbsp;&nbsp; 32116 | &nbsp;&nbsp; 7823137 |
| Total |  | &nbsp;&nbsp; 12265781 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Machinery 1.9%** | **Machinery 1.9%** | **Machinery 1.9%** |
| Caterpillar, Inc. | &nbsp;&nbsp; 23673 | &nbsp;&nbsp; 17585015 |
| Cummins, Inc. | &nbsp;&nbsp; 6983 | &nbsp;&nbsp; 4077164 |
| Deere & Co. | &nbsp;&nbsp; 12718 | &nbsp;&nbsp; 8008652 |
| Dover Corp. | &nbsp;&nbsp; 6938 | &nbsp;&nbsp; 1564519 |
| Fortive Corp. | &nbsp;&nbsp; 16067 | &nbsp;&nbsp; 951166 |
| IDEX Corp. | &nbsp;&nbsp; 3786 | &nbsp;&nbsp; 793053 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp; 13354 | &nbsp;&nbsp; 3881073 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp; 18188 | &nbsp;&nbsp; 1712218 |
| Nordson Corp. | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 792288 |
| Otis Worldwide Corp. | &nbsp;&nbsp; 19714 | &nbsp;&nbsp; 1824728 |
| PACCAR, Inc. | &nbsp;&nbsp; 26568 | &nbsp;&nbsp; 3349959 |
| Parker-Hannifin Corp. | &nbsp;&nbsp; 6383 | &nbsp;&nbsp; 6441596 |
| Pentair PLC | &nbsp;&nbsp; 8278 | &nbsp;&nbsp; 821095 |
| Snap-On, Inc. | &nbsp;&nbsp; 2631 | &nbsp;&nbsp; 1013514 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp; 7835 | &nbsp;&nbsp; 677649 |
| Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp; 8648 | &nbsp;&nbsp; 2282640 |
| Xylem, Inc. | &nbsp;&nbsp; 12316 | &nbsp;&nbsp; 1595661 |
| Total |  | &nbsp;&nbsp; 57371990 |
| **Passenger Airlines 0.2%** | **Passenger Airlines 0.2%** | **Passenger Airlines 0.2%** |
| Delta Air Lines, Inc. | &nbsp;&nbsp; 32812 | &nbsp;&nbsp; 2155748 |
| Southwest Airlines Co. | &nbsp;&nbsp; 26161 | &nbsp;&nbsp; 1288691 |
| United Airlines Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 16377 | &nbsp;&nbsp; 1740875 |
| Total |  | &nbsp;&nbsp; 5185314 |
| **Professional Services 0.4%** | **Professional Services 0.4%** | **Professional Services 0.4%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp; 20460 | &nbsp;&nbsp; 4385806 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp; 5905 | &nbsp;&nbsp; 1097562 |
| Equifax, Inc. | &nbsp;&nbsp; 6191 | &nbsp;&nbsp; 1293671 |
| Jacobs Solutions, Inc. | &nbsp;&nbsp; 6047 | &nbsp;&nbsp; 833639 |
| Leidos Holdings, Inc. | &nbsp;&nbsp; 6468 | &nbsp;&nbsp; 1132547 |
| Paychex, Inc. | &nbsp;&nbsp; 16385 | &nbsp;&nbsp; 1534455 |
| Paycom Software, Inc. | &nbsp;&nbsp; 2472 | &nbsp;&nbsp; 311052 |
| Verisk Analytics, Inc. | &nbsp;&nbsp; 7050 | &nbsp;&nbsp; 1463369 |
| Total |  | &nbsp;&nbsp; 12052101 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Trading Companies & Distributors 0.3%** | **Trading Companies & Distributors 0.3%** | **Trading Companies & Distributors 0.3%** |
| Fastenal Co. | &nbsp;&nbsp; 58075 | &nbsp;&nbsp; 2673773 |
| United Rentals, Inc. | &nbsp;&nbsp; 3219 | &nbsp;&nbsp; 2703960 |
| W.W. Grainger, Inc. | &nbsp;&nbsp; 2213 | &nbsp;&nbsp; 2533288 |
| Total |  | &nbsp;&nbsp; 7911021 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **274464907** |
| **Information Technology 31.9%** | **Information Technology 31.9%** | **Information Technology 31.9%** |
| **Communications Equipment 1.0%** | **Communications Equipment 1.0%** | **Communications Equipment 1.0%** |
| Arista Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 52236 | &nbsp;&nbsp; 6973506 |
| Ciena Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7135 | &nbsp;&nbsp; 2487975 |
| Cisco Systems, Inc. | &nbsp;&nbsp; 199346 | &nbsp;&nbsp; 15840033 |
| F5, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2918 | &nbsp;&nbsp; 791828 |
| Motorola Solutions, Inc. | &nbsp;&nbsp; 8425 | &nbsp;&nbsp; 4063041 |
| Total |  | &nbsp;&nbsp; 30156383 |
| **Electronic Equipment, Instruments & Components 0.8%** | **Electronic Equipment, Instruments & Components 0.8%** | **Electronic Equipment, Instruments & Components 0.8%** |
| Amphenol Corp., Class A | &nbsp;&nbsp; 61920 | &nbsp;&nbsp; 9044035 |
| CDW Corp. | &nbsp;&nbsp; 6586 | &nbsp;&nbsp; 807707 |
| Corning, Inc. | &nbsp;&nbsp; 39467 | &nbsp;&nbsp; 5935047 |
| Jabil, Inc. | &nbsp;&nbsp; 5404 | &nbsp;&nbsp; 1432006 |
| Keysight Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 8694 | &nbsp;&nbsp; 2671927 |
| TE Connectivity PLC | &nbsp;&nbsp; 14882 | &nbsp;&nbsp; 3425092 |
| Teledyne Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2375 | &nbsp;&nbsp; 1617613 |
| Zebra Technologies Corp., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 2563 | &nbsp;&nbsp; 574010 |
| Total |  | &nbsp;&nbsp; 25507437 |
| **IT Services 0.8%** | **IT Services 0.8%** | **IT Services 0.8%** |
| Accenture PLC, Class A | &nbsp;&nbsp; 31370 | &nbsp;&nbsp; 6547546 |
| Akamai Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7278 | &nbsp;&nbsp; 716082 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp; 24415 | &nbsp;&nbsp; 1573059 |
| EPAM Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2795 | &nbsp;&nbsp; 394095 |
| Gartner, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3646 | &nbsp;&nbsp; 573151 |
| GoDaddy, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 6836 | &nbsp;&nbsp; 595826 |
| International Business Machines Corp. | &nbsp;&nbsp; 47285 | &nbsp;&nbsp; 11358330 |
| VeriSign, Inc. | &nbsp;&nbsp; 4220 | &nbsp;&nbsp; 961907 |
| Total |  | &nbsp;&nbsp; 22719996 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Semiconductors & Semiconductor Equipment 14.1%** | **Semiconductors & Semiconductor Equipment 14.1%** | **Semiconductors & Semiconductor Equipment 14.1%** |
| Advanced Micro Devices, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 82356 | &nbsp;&nbsp; 16488495 |
| Analog Devices, Inc. | &nbsp;&nbsp; 24886 | &nbsp;&nbsp; 8854190 |
| Applied Materials, Inc. | &nbsp;&nbsp; 40299 | &nbsp;&nbsp; 15003318 |
| Broadcom, Inc. | &nbsp;&nbsp; 238886 | &nbsp;&nbsp; 76336021 |
| First Solar, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 5428 | &nbsp;&nbsp; 1070402 |
| Intel Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 226818 | &nbsp;&nbsp; 10345169 |
| KLA Corp. | &nbsp;&nbsp; 6647 | &nbsp;&nbsp; 10133684 |
| Lam Research Corp. | &nbsp;&nbsp; 63538 | &nbsp;&nbsp; 14860903 |
| Microchip Technology, Inc. | &nbsp;&nbsp; 27339 | &nbsp;&nbsp; 2040583 |
| Micron Technology, Inc. | &nbsp;&nbsp; 56781 | &nbsp;&nbsp; 23414781 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp; 2423 | &nbsp;&nbsp; 2768859 |
| NVIDIA Corp. | &nbsp;&nbsp; 1229243 | &nbsp;&nbsp; 217809567 |
| NXP Semiconductors NV | &nbsp;&nbsp; 12731 | &nbsp;&nbsp; 2890064 |
| ON Semiconductor Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 20355 | &nbsp;&nbsp; 1353200 |
| Qnity Electronics, Inc. | &nbsp;&nbsp; 10594 | &nbsp;&nbsp; 1342895 |
| QUALCOMM, Inc. | &nbsp;&nbsp; 54178 | &nbsp;&nbsp; 7712780 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp; 7521 | &nbsp;&nbsp; 448101 |
| Teradyne, Inc. | &nbsp;&nbsp; 7922 | &nbsp;&nbsp; 2535278 |
| Texas Instruments, Inc. | &nbsp;&nbsp; 45964 | &nbsp;&nbsp; 9749424 |
| Total |  | &nbsp;&nbsp; 425157714 |
| **Software 8.0%** | **Software 8.0%** | **Software 8.0%** |
| Adobe, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 21175 | &nbsp;&nbsp; 5556532 |
| AppLovin Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 13693 | &nbsp;&nbsp; 5953306 |
| Autodesk, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 10775 | &nbsp;&nbsp; 2649249 |
| Cadence Design Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 13770 | &nbsp;&nbsp; 4150278 |
| Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 12695 | &nbsp;&nbsp; 4722286 |
| Datadog, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 16463 | &nbsp;&nbsp; 1843197 |
| Fair Isaac Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1199 | &nbsp;&nbsp; 1689823 |
| Fortinet, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 31976 | &nbsp;&nbsp; 2527063 |
| Gen Digital, Inc. | &nbsp;&nbsp; 28390 | &nbsp;&nbsp; 640762 |
| Intuit, Inc. | &nbsp;&nbsp; 14104 | &nbsp;&nbsp; 5768959 |
| Microsoft Corp.<sup>(c)</sup> <br>| &nbsp;&nbsp; 375975 | &nbsp;&nbsp; 147660421 |
| Oracle Corp. | &nbsp;&nbsp; 85084 | &nbsp;&nbsp; 12371214 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 115556 | &nbsp;&nbsp; 15853128 |
| Palo Alto Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 40219 | &nbsp;&nbsp; 5989413 |
| PTC, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 6060 | &nbsp;&nbsp; 948935 |
| Roper Technologies, Inc. | &nbsp;&nbsp; 5445 | &nbsp;&nbsp; 1904280 |
| Salesforce, Inc. | &nbsp;&nbsp; 48158 | &nbsp;&nbsp; 9380697 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| ServiceNow, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 52479 | &nbsp;&nbsp; 5668257 |
| Synopsys, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 9396 | &nbsp;&nbsp; 3889944 |
| Trimble, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12036 | &nbsp;&nbsp; 804847 |
| Tyler Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2177 | &nbsp;&nbsp; 772160 |
| Workday, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 10977 | &nbsp;&nbsp; 1468284 |
| Total |  | &nbsp;&nbsp; 242213035 |
| **Technology Hardware, Storage & Peripherals 7.2%** | **Technology Hardware, Storage & Peripherals 7.2%** | **Technology Hardware, Storage & Peripherals 7.2%** |
| Apple, Inc. | &nbsp;&nbsp; 747478 | &nbsp;&nbsp; 197468738 |
| Dell Technologies, Inc. | &nbsp;&nbsp; 15246 | &nbsp;&nbsp; 2257628 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 66746 | &nbsp;&nbsp; 1433037 |
| HP, Inc. | &nbsp;&nbsp; 47283 | &nbsp;&nbsp; 897904 |
| NetApp, Inc. | &nbsp;&nbsp; 10099 | &nbsp;&nbsp; 1000104 |
| Sandisk Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7467 | &nbsp;&nbsp; 4744233 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp; 11021 | &nbsp;&nbsp; 4494805 |
| Super Micro Computer, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 25367 | &nbsp;&nbsp; 821637 |
| Western Digital Corp. | &nbsp;&nbsp; 17295 | &nbsp;&nbsp; 4837411 |
| Total |  | &nbsp;&nbsp; 217955497 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **963710062** |
| **Materials 2.1%** | **Materials 2.1%** | **Materials 2.1%** |
| **Chemicals 1.1%** | **Chemicals 1.1%** | **Chemicals 1.1%** |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp; 11258 | &nbsp;&nbsp; 3103493 |
| Albemarle Corp. | &nbsp;&nbsp; 5954 | &nbsp;&nbsp; 1063801 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp; 7890 | &nbsp;&nbsp; 785371 |
| Corteva, Inc. | &nbsp;&nbsp; 34184 | &nbsp;&nbsp; 2738822 |
| Dow, Inc. | &nbsp;&nbsp; 35955 | &nbsp;&nbsp; 1104897 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp; 21194 | &nbsp;&nbsp; 1060548 |
| Ecolab, Inc. | &nbsp;&nbsp; 12895 | &nbsp;&nbsp; 3976173 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 12955 | &nbsp;&nbsp; 1065290 |
| Linde PLC | &nbsp;&nbsp; 23621 | &nbsp;&nbsp; 12001358 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp; 13026 | &nbsp;&nbsp; 749255 |
| Mosaic Co. (The) | &nbsp;&nbsp; 16056 | &nbsp;&nbsp; 446999 |
| PPG Industries, Inc. | &nbsp;&nbsp; 11352 | &nbsp;&nbsp; 1399361 |
| Sherwin-Williams Co. (The) | &nbsp;&nbsp; 11662 | &nbsp;&nbsp; 4228524 |
| Total |  | &nbsp;&nbsp; 33723892 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Construction Materials 0.3%** | **Construction Materials 0.3%** | **Construction Materials 0.3%** |
| CRH PLC | &nbsp;&nbsp; 33906 | &nbsp;&nbsp; 4068042 |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp; 3051 | &nbsp;&nbsp; 2064215 |
| Vulcan Materials Co. | &nbsp;&nbsp; 6684 | &nbsp;&nbsp; 2072040 |
| Total |  | &nbsp;&nbsp; 8204297 |
| **Containers & Packaging 0.2%** | **Containers & Packaging 0.2%** | **Containers & Packaging 0.2%** |
| Amcor Plc | &nbsp;&nbsp; 23354 | &nbsp;&nbsp; 1131034 |
| Avery Dennison Corp. | &nbsp;&nbsp; 3910 | &nbsp;&nbsp; 767729 |
| Ball Corp. | &nbsp;&nbsp; 13556 | &nbsp;&nbsp; 910014 |
| International Paper Co. | &nbsp;&nbsp; 26711 | &nbsp;&nbsp; 1163264 |
| Packaging Corp. of America | &nbsp;&nbsp; 4521 | &nbsp;&nbsp; 1049505 |
| Smurfit WestRock PLC | &nbsp;&nbsp; 26415 | &nbsp;&nbsp; 1241769 |
| Total |  | &nbsp;&nbsp; 6263315 |
| **Metals & Mining 0.5%** | **Metals & Mining 0.5%** | **Metals & Mining 0.5%** |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp; 72638 | &nbsp;&nbsp; 4945195 |
| Newmont Corp. | &nbsp;&nbsp; 55203 | &nbsp;&nbsp; 7176390 |
| Nucor Corp. | &nbsp;&nbsp; 11577 | &nbsp;&nbsp; 2047740 |
| Steel Dynamics, Inc. | &nbsp;&nbsp; 6944 | &nbsp;&nbsp; 1341095 |
| Total |  | &nbsp;&nbsp; 15510420 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **63701924** |
| **Real Estate 2.0%** | **Real Estate 2.0%** | **Real Estate 2.0%** |
| **Health Care REITs 0.4%** | **Health Care REITs 0.4%** | **Health Care REITs 0.4%** |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp; 7868 | &nbsp;&nbsp; 425187 |
| Healthpeak Properties, Inc. | &nbsp;&nbsp; 35155 | &nbsp;&nbsp; 621540 |
| Ventas, Inc. | &nbsp;&nbsp; 23762 | &nbsp;&nbsp; 2047334 |
| Welltower, Inc. | &nbsp;&nbsp; 34719 | &nbsp;&nbsp; 7190999 |
| Total |  | &nbsp;&nbsp; 10285060 |
| **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** |
| Host Hotels & Resorts, Inc. | &nbsp;&nbsp; 32352 | &nbsp;&nbsp; 633776 |
| **Industrial REITs 0.2%** | **Industrial REITs 0.2%** | **Industrial REITs 0.2%** |
| Prologis, Inc. | &nbsp;&nbsp; 46988 | &nbsp;&nbsp; 6699079 |
| **Office REITs 0.0%** | **Office REITs 0.0%** | **Office REITs 0.0%** |
| BXP, Inc. | &nbsp;&nbsp; 7455 | &nbsp;&nbsp; 429259 |
| **Real Estate Management & Development 0.1%** | **Real Estate Management & Development 0.1%** | **Real Estate Management & Development 0.1%** |
| CBRE Group, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 14829 | &nbsp;&nbsp; 2189650 |
| CoStar Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 21440 | &nbsp;&nbsp; 956867 |
| Total |  | &nbsp;&nbsp; 3146517 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Residential REITs 0.2%** | **Residential REITs 0.2%** | **Residential REITs 0.2%** |
| AvalonBay Communities, Inc. | &nbsp;&nbsp; 7154 | &nbsp;&nbsp; 1267903 |
| Camden Property Trust | &nbsp;&nbsp; 5382 | &nbsp;&nbsp; 583086 |
| Equity Residential | &nbsp;&nbsp; 17515 | &nbsp;&nbsp; 1107123 |
| Essex Property Trust, Inc. | &nbsp;&nbsp; 3258 | &nbsp;&nbsp; 831148 |
| Invitation Homes, Inc. | &nbsp;&nbsp; 28530 | &nbsp;&nbsp; 751480 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp; 5923 | &nbsp;&nbsp; 792853 |
| UDR, Inc. | &nbsp;&nbsp; 15213 | &nbsp;&nbsp; 570488 |
| Total |  | &nbsp;&nbsp; 5904081 |
| **Retail REITs 0.3%** | **Retail REITs 0.3%** | **Retail REITs 0.3%** |
| Federal Realty Investment Trust | &nbsp;&nbsp; 3971 | &nbsp;&nbsp; 431926 |
| Kimco Realty Corp. | &nbsp;&nbsp; 34257 | &nbsp;&nbsp; 806752 |
| Realty Income Corp. | &nbsp;&nbsp; 46534 | &nbsp;&nbsp; 3117778 |
| Regency Centers Corp. | &nbsp;&nbsp; 8327 | &nbsp;&nbsp; 657833 |
| Simon Property Group, Inc. | &nbsp;&nbsp; 16514 | &nbsp;&nbsp; 3366379 |
| Total |  | &nbsp;&nbsp; 8380668 |
| **Specialized REITs 0.8%** | **Specialized REITs 0.8%** | **Specialized REITs 0.8%** |
| American Tower Corp. | &nbsp;&nbsp; 23682 | &nbsp;&nbsp; 4543629 |
| Crown Castle, Inc. | &nbsp;&nbsp; 22029 | &nbsp;&nbsp; 1972477 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp; 16334 | &nbsp;&nbsp; 2894385 |
| Equinix, Inc. | &nbsp;&nbsp; 4967 | &nbsp;&nbsp; 4839149 |
| Extra Space Storage, Inc. | &nbsp;&nbsp; 10737 | &nbsp;&nbsp; 1621609 |
| Iron Mountain, Inc. | &nbsp;&nbsp; 14953 | &nbsp;&nbsp; 1619859 |
| Public Storage | &nbsp;&nbsp; 7988 | &nbsp;&nbsp; 2452795 |
| SBA Communications Corp. | &nbsp;&nbsp; 5390 | &nbsp;&nbsp; 1084252 |
| VICI Properties, Inc. | &nbsp;&nbsp; 54067 | &nbsp;&nbsp; 1633364 |
| Weyerhaeuser Co. | &nbsp;&nbsp; 36466 | &nbsp;&nbsp; 894511 |
| Total |  | &nbsp;&nbsp; 23556030 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **59034470** |
| **Utilities 2.5%** | **Utilities 2.5%** | **Utilities 2.5%** |
| **Electric Utilities 1.6%** | **Electric Utilities 1.6%** | **Electric Utilities 1.6%** |
| Alliant Energy Corp. | &nbsp;&nbsp; 13003 | &nbsp;&nbsp; 940637 |
| American Electric Power Co., Inc. | &nbsp;&nbsp; 27077 | &nbsp;&nbsp; 3623444 |
| Constellation Energy Corp. | &nbsp;&nbsp; 15798 | &nbsp;&nbsp; 5211444 |
| Duke Energy Corp. | &nbsp;&nbsp; 39340 | &nbsp;&nbsp; 5147639 |
| Edison International | &nbsp;&nbsp; 19465 | &nbsp;&nbsp; 1454814 |
| Entergy Corp. | &nbsp;&nbsp; 22592 | &nbsp;&nbsp; 2419829 |
| Evergy, Inc. | &nbsp;&nbsp; 11646 | &nbsp;&nbsp; 974304 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Eversource Energy | &nbsp;&nbsp; 18979 | &nbsp;&nbsp; 1446390 |
| Exelon Corp. | &nbsp;&nbsp; 51107 | &nbsp;&nbsp; 2528263 |
| FirstEnergy Corp. | &nbsp;&nbsp; 26300 | &nbsp;&nbsp; 1345508 |
| NextEra Energy, Inc. | &nbsp;&nbsp; 105351 | &nbsp;&nbsp; 9878763 |
| NRG Energy, Inc. | &nbsp;&nbsp; 9694 | &nbsp;&nbsp; 1734838 |
| PG&E Corp. | &nbsp;&nbsp; 111184 | &nbsp;&nbsp; 2112496 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp; 6055 | &nbsp;&nbsp; 607317 |
| PPL Corp. | &nbsp;&nbsp; 37421 | &nbsp;&nbsp; 1458671 |
| Southern Co. (The) | &nbsp;&nbsp; 55701 | &nbsp;&nbsp; 5424164 |
| Xcel Energy, Inc. | &nbsp;&nbsp; 29924 | &nbsp;&nbsp; 2494465 |
| Total |  | &nbsp;&nbsp; 48802986 |
| **Gas Utilities 0.1%** | **Gas Utilities 0.1%** | **Gas Utilities 0.1%** |
| Atmos Energy Corp. | &nbsp;&nbsp; 8120 | &nbsp;&nbsp; 1516735 |
| **Independent Power and Renewable Electricity Producers 0.1%** | **Independent Power and Renewable Electricity Producers 0.1%** | **Independent Power and Renewable Electricity Producers 0.1%** |
| AES Corp. (The) | &nbsp;&nbsp; 36023 | &nbsp;&nbsp; 622477 |
| Vistra Corp. | &nbsp;&nbsp; 16111 | &nbsp;&nbsp; 2801542 |
| Total |  | &nbsp;&nbsp; 3424019 |
| **Multi-Utilities 0.6%** | **Multi-Utilities 0.6%** | **Multi-Utilities 0.6%** |
| Ameren Corp. | &nbsp;&nbsp; 13683 | &nbsp;&nbsp; 1550010 |
| CenterPoint Energy, Inc. | &nbsp;&nbsp; 33026 | &nbsp;&nbsp; 1436631 |
| CMS Energy Corp. | &nbsp;&nbsp; 15394 | &nbsp;&nbsp; 1201810 |
| Consolidated Edison, Inc. | &nbsp;&nbsp; 18258 | &nbsp;&nbsp; 2054390 |
| Dominion Energy, Inc. | &nbsp;&nbsp; 43196 | &nbsp;&nbsp; 2727395 |
| DTE Energy Co. | &nbsp;&nbsp; 10506 | &nbsp;&nbsp; 1557409 |
| NiSource, Inc. | &nbsp;&nbsp; 24139 | &nbsp;&nbsp; 1141775 |
| Public Service Enterprise Group, Inc. | &nbsp;&nbsp; 25250 | &nbsp;&nbsp; 2173267 |
| Sempra | &nbsp;&nbsp; 33017 | &nbsp;&nbsp; 3178547 |
| WEC Energy Group, Inc. | &nbsp;&nbsp; 16455 | &nbsp;&nbsp; 1924577 |
| Total |  | &nbsp;&nbsp; 18945811 |
| **Water Utilities 0.1%** | **Water Utilities 0.1%** | **Water Utilities 0.1%** |
| American Water Works Co., Inc. | &nbsp;&nbsp; 9871 | &nbsp;&nbsp; 1342752 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **74032303** |
| Total Common Stocks <br>(Cost $537,923,827) | Total Common Stocks <br>(Cost $537,923,827) | &nbsp;&nbsp; **2973817503** |

---

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Money Market Funds 1.3%** | **Money Market Funds 1.3%** | **Money Market Funds 1.3%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(b),(d)</sup> <br>| &nbsp;&nbsp; 40664037 | &nbsp;&nbsp; 40655905 |
| Total Money Market Funds <br>(Cost $40,650,091) | Total Money Market Funds <br>(Cost $40,650,091) | &nbsp;&nbsp; **40655905** |
| **Total Investments in Securities** <br>**(Cost: $578,573,918)** | **Total Investments in Securities** <br>**(Cost: $578,573,918)** | &nbsp;&nbsp; **3014473408** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **3035802** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **3017509210** |

---

At February 28, 2026, securities and/or cash totaling $6,364,352 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 | 92 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 31689400 | &nbsp;&nbsp;&nbsp;&nbsp; 109690 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| S&P 500 Index E-mini | 41 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 14122450 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (65939)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 109690 | &nbsp;&nbsp;&nbsp;&nbsp; (65939)<br>|

---

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) 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 year ended February 28, 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>|
| Ameriprise Financial, Inc. | Ameriprise Financial, Inc. | Ameriprise Financial, Inc. | Ameriprise Financial, Inc. | Ameriprise Financial, Inc. | Ameriprise Financial, Inc. | Ameriprise Financial, Inc. | Ameriprise Financial, Inc. | Ameriprise Financial, Inc. |
|  | 3240994 | &nbsp;&nbsp; 84784 | &nbsp;&nbsp; (112449)<br>| &nbsp;&nbsp; (1003765)<br>| &nbsp;&nbsp; 2209564 | &nbsp;&nbsp; 632189 | &nbsp;&nbsp; 34085 | &nbsp;&nbsp; 4700 |
| Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 337715312 | &nbsp;&nbsp; 716155799 | &nbsp;&nbsp; (1013184341)<br>| &nbsp;&nbsp; (30865)<br>| &nbsp;&nbsp; 40655905 | &nbsp;&nbsp; (40545)<br>| &nbsp;&nbsp; 1945575 | &nbsp;&nbsp; 40664037 |
| Total | 340956306 |  |  | &nbsp;&nbsp; (1034630)<br>| &nbsp;&nbsp; 42865469 | &nbsp;&nbsp; 591644 | &nbsp;&nbsp; 1979660 |  |

---

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

&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) The rate shown is the seven-day current annualized yield at February 28, 2026.

**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:

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

Columbia Large Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

■

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 February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 313203564 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 313203564 |
| Consumer Discretionary | 295928239 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 295928239 |
| Consumer Staples | 161617404 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161617404 |
| Energy | 103456005 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 103456005 |
| Financials | 371985085 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 371985085 |
| Health Care | 292683540 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 292683540 |
| Industrials | 274464907 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 274464907 |
| Information Technology | 963710062 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 963710062 |
| Materials | 63701924 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 63701924 |
| Real Estate | 59034470 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 59034470 |
| Utilities | 74032303 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 74032303 |
| Total Common Stocks | 2973817503 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2973817503 |
| Money Market Funds | 40655905 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 40655905 |
| Total Investments in Securities | 3014473408 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3014473408 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Futures Contracts | 109690 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 109690 |
| Liability |  |  |  |  |
| Futures Contracts | (65939)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (65939)<br>|
| Total | 3014517159 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3014517159 |

---

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 Large Cap Index Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $537,826,205) | $2971607939 |
| Affiliated issuers (cost $40,747,713) | 42865469 |
| Receivable for: |  |
| Capital shares sold | 1588199 |
| Dividends | 2873759 |
| Foreign tax reclaims | 6477 |
| Expense reimbursement due from Investment Manager | 116 |
| Total assets | 3018941959 |
| **Liabilities** |  |
| Due to custodian | 8 |
| Payable for: |  |
| Capital shares redeemed | 800508 |
| Variation margin for futures contracts | 206150 |
| Management services fees | 16698 |
| Distribution and/or service fees | 3187 |
| Compensation of board members | 4730 |
| Deferred compensation of board members | 401468 |
| Total liabilities | 1432749 |
| **Net assets applicable to outstanding capital stock** | **$3017509210** |
| **Represented by** |  |
| Paid in capital | 487534595 |
| Total distributable earnings (loss) | 2529974615 |
| **Total - representing net assets applicable to outstanding capital stock** | **$3017509210** |
| **Class A** |  |
| Net assets | $461363858 |
| Shares outstanding | 8613773 |
| Net asset value per share | $53.56 |
| **Institutional Class** |  |
| Net assets | $2158332234 |
| Shares outstanding | 39694104 |
| Net asset value per share | $54.37 |
| **Institutional 2 Class** |  |
| Net assets | $168781761 |
| Shares outstanding | 2994413 |
| Net asset value per share | $56.37 |
| **Institutional 3 Class** |  |
| Net assets | $229031357 |
| Shares outstanding | 4377766 |
| Net asset value per share | $52.32 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $37545722 |
| Dividends — affiliated issuers | 1979660 |
| Interfund lending | 917 |
| Foreign taxes withheld | (8907)<br>|
| Total income | 39517392 |
| Expenses: |  |
| Management services fees | 6165959 |
| Distribution and/or service fees |  |
| Class A | 1167440 |
| Interest on collateral | 3342 |
| Compensation of board members | 42973 |
| Deferred compensation of board members | 66159 |
| Other | 434 |
| Total expenses | 7446307 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (109566)<br>|
| Expense reduction | (980)<br>|
| Total net expenses | 7335761 |
| **Net investment income** | 32181631 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 524539221 |
| Investments — affiliated issuers | 591644 |
| Futures contracts | 10357688 |
| Net realized gain | 535488553 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | (74618057)<br>|
| Investments — affiliated issuers | (1034630)<br>|
| Futures contracts | (496149)<br>|
| Net change in unrealized appreciation (depreciation) | (76148836)<br>|
| Net realized and unrealized gain | 459339717 |
| **Net increase in net assets resulting from operations** | **$491521348** |

---

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

Columbia Large Cap Index Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $32181631 | &nbsp;&nbsp; $40087085 |
| Net realized gain | 535488553 | &nbsp;&nbsp; 604465715 |
| Net change in unrealized appreciation (depreciation) | (76148836)<br>| &nbsp;&nbsp; (46538437)<br>|
| Net increase in net assets resulting from operations | 491521348 | &nbsp;&nbsp; 598014363 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (114949265)<br>| &nbsp;&nbsp; (40772903)<br>|
| Institutional Class | (525834818)<br>| &nbsp;&nbsp; (212602794)<br>|
| Institutional 2 Class | (41854004)<br>| &nbsp;&nbsp; (18082531)<br>|
| Institutional 3 Class | (65314708)<br>| &nbsp;&nbsp; (22008462)<br>|
| Total distributions to shareholders | (747952795)<br>| &nbsp;&nbsp; (293466690)<br>|
| Increase (decrease) in net assets from capital stock activity | 97262246 | &nbsp;&nbsp; (482982159)<br>|
| Total decrease in net assets | (159169201)<br>| &nbsp;&nbsp; (178434486)<br>|
| Net assets at beginning of year | 3176678411 | &nbsp;&nbsp; 3355112897 |
| **Net assets at end of year** | **$3017509210** | &nbsp;&nbsp; **$3176678411** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 1444761 | &nbsp;&nbsp;&nbsp;&nbsp; 80809158 | &nbsp;&nbsp;&nbsp;&nbsp; 1249686 | &nbsp;&nbsp;&nbsp;&nbsp; 73149703 |
| Distributions reinvested | 1930605 | &nbsp;&nbsp;&nbsp;&nbsp; 103107247 | &nbsp;&nbsp;&nbsp;&nbsp; 614566 | &nbsp;&nbsp;&nbsp;&nbsp; 36918192 |
| Shares redeemed | (2735643)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (152854113)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2898737)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (171114959)<br>|
| Net increase (decrease) | 639723 | &nbsp;&nbsp;&nbsp;&nbsp; 31062292 | &nbsp;&nbsp;&nbsp;&nbsp; (1034485)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (61047064)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 6332116 | &nbsp;&nbsp;&nbsp;&nbsp; 359610124 | &nbsp;&nbsp;&nbsp;&nbsp; 5300096 | &nbsp;&nbsp;&nbsp;&nbsp; 314273955 |
| Distributions reinvested | 9164251 | &nbsp;&nbsp;&nbsp;&nbsp; 496335996 | &nbsp;&nbsp;&nbsp;&nbsp; 3316228 | &nbsp;&nbsp;&nbsp;&nbsp; 201488075 |
| Shares redeemed | (13692428)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (789971479)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13999747)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (838052580)<br>|
| Net increase (decrease) | 1803939 | &nbsp;&nbsp;&nbsp;&nbsp; 65974641 | &nbsp;&nbsp;&nbsp;&nbsp; (5383423)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (322290550)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 454257 | &nbsp;&nbsp;&nbsp;&nbsp; 26785805 | &nbsp;&nbsp;&nbsp;&nbsp; 472108 | &nbsp;&nbsp;&nbsp;&nbsp; 28703208 |
| Distributions reinvested | 740272 | &nbsp;&nbsp;&nbsp;&nbsp; 41479770 | &nbsp;&nbsp;&nbsp;&nbsp; 287255 | &nbsp;&nbsp;&nbsp;&nbsp; 17923527 |
| Shares redeemed | (1193319)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (70334133)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2075177)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (127121296)<br>|
| Net increase (decrease) | 1210 | &nbsp;&nbsp;&nbsp;&nbsp; (2068558)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1315814)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (80494561)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 1772623 | &nbsp;&nbsp;&nbsp;&nbsp; 92254590 | &nbsp;&nbsp;&nbsp;&nbsp; 3069767 | &nbsp;&nbsp;&nbsp;&nbsp; 167014832 |
| Distributions reinvested | 498491 | &nbsp;&nbsp;&nbsp;&nbsp; 26032987 | &nbsp;&nbsp;&nbsp;&nbsp; 127151 | &nbsp;&nbsp;&nbsp;&nbsp; 7476127 |
| Shares redeemed | (2070716)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (115993706)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3325082)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (193640943)<br>|
| Net increase (decrease) | 200398 | &nbsp;&nbsp;&nbsp;&nbsp; 2293871 | &nbsp;&nbsp;&nbsp;&nbsp; (128164)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (19149984)<br>|
| **Total net increase (decrease)** | **2645270** | &nbsp;&nbsp;&nbsp;&nbsp; **97262246** | &nbsp;&nbsp;&nbsp;&nbsp; **(7861886)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(482982159)**<br>|

---

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

Columbia Large Cap Index Fund \| 2026

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Columbia Large Cap Index 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** |
| Year Ended 2/28/2026 | $59.35 | 0.47 | 8.26 | 8.73 | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (13.98)<br>| &nbsp;&nbsp; (14.52)<br>|
| Year Ended 2/28/2025 | $54.61 | 0.54 | 9.21 | 9.75 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (4.40)<br>| &nbsp;&nbsp; (5.01)<br>|
| Year Ended 2/29/2024 | $45.89 | 0.60 | 12.54 | 13.14 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (3.81)<br>| &nbsp;&nbsp; (4.42)<br>|
| Year Ended 2/28/2023 | $56.34 | 0.60 | &nbsp;&nbsp; (5.27)<br>| &nbsp;&nbsp; (4.67)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (5.15)<br>| &nbsp;&nbsp; (5.78)<br>|
| Year Ended 2/28/2022 | $57.11 | 0.58 | 8.97 | 9.55 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (9.70)<br>| &nbsp;&nbsp; (10.32)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $60.04 | 0.62 | 8.38 | 9.00 | &nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp; (13.98)<br>| &nbsp;&nbsp; (14.67)<br>|
| Year Ended 2/28/2025 | $55.18 | 0.69 | 9.33 | 10.02 | &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp; (4.40)<br>| &nbsp;&nbsp; (5.16)<br>|
| Year Ended 2/29/2024 | $46.32 | 0.73 | 12.68 | 13.41 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (3.81)<br>| &nbsp;&nbsp; (4.55)<br>|
| Year Ended 2/28/2023 | $56.82 | 0.73 | &nbsp;&nbsp; (5.32)<br>| &nbsp;&nbsp; (4.59)<br>| &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp; (5.15)<br>| &nbsp;&nbsp; (5.91)<br>|
| Year Ended 2/28/2022 | $57.52 | 0.74 | 9.04 | 9.78 | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp; (9.70)<br>| &nbsp;&nbsp; (10.48)<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** |
| Year Ended 2/28/2026 | $61.75 | 0.64 | 8.65 | 9.29 | &nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp; (13.98)<br>| &nbsp;&nbsp; (14.67)<br>|
| Year Ended 2/28/2025 | $56.63 | 0.71 | 9.57 | 10.28 | &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp; (4.40)<br>| &nbsp;&nbsp; (5.16)<br>|
| Year Ended 2/29/2024 | $47.43 | 0.75 | 13.00 | 13.75 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (3.81)<br>| &nbsp;&nbsp; (4.55)<br>|
| Year Ended 2/28/2023 | $58.02 | 0.74 | &nbsp;&nbsp; (5.42)<br>| &nbsp;&nbsp; (4.68)<br>| &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp; (5.15)<br>| &nbsp;&nbsp; (5.91)<br>|
| Year Ended 2/28/2022 | $58.55 | 0.75 | 9.20 | 9.95 | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp; (9.70)<br>| &nbsp;&nbsp; (10.48)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | $58.29 | 0.60 | 8.10 | 8.70 | &nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp; (13.98)<br>| &nbsp;&nbsp; (14.67)<br>|
| Year Ended 2/28/2025 | $53.70 | 0.69 | 9.06 | 9.75 | &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp; (4.40)<br>| &nbsp;&nbsp; (5.16)<br>|
| Year Ended 2/29/2024 | $45.18 | 0.72 | 12.35 | 13.07 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (3.81)<br>| &nbsp;&nbsp; (4.55)<br>|
| Year Ended 2/28/2023 | $55.59 | 0.70 | &nbsp;&nbsp; (5.20)<br>| &nbsp;&nbsp; (4.50)<br>| &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp; (5.15)<br>| &nbsp;&nbsp; (5.91)<br>|
| Year Ended 2/28/2022 | $56.45 | 0.68 | 8.94 | 9.62 | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp; (9.70)<br>| &nbsp;&nbsp; (10.48)<br>|

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&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%. |
| (e) | Ratios include interfund lending expense which is less than 0.01%. |

---

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

Columbia Large Cap Index Fund \| 2026

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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; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $53.56 | &nbsp;&nbsp;&nbsp;&nbsp; 16.43%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.83% | &nbsp;&nbsp;&nbsp;&nbsp; 5% | &nbsp;&nbsp;&nbsp;&nbsp; $461364 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $59.35 | &nbsp;&nbsp;&nbsp;&nbsp; 17.84%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.92% | &nbsp;&nbsp;&nbsp;&nbsp; 6% | &nbsp;&nbsp;&nbsp;&nbsp; $473296 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $54.61 | &nbsp;&nbsp;&nbsp;&nbsp; 29.86%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.21% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $491954 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $45.89 | &nbsp;&nbsp;&nbsp;&nbsp; (8.02%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.21% | &nbsp;&nbsp;&nbsp;&nbsp; 9% | &nbsp;&nbsp;&nbsp;&nbsp; $434670 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $56.34 | &nbsp;&nbsp;&nbsp;&nbsp; 15.86%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.92% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $529310 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $54.37 | &nbsp;&nbsp;&nbsp;&nbsp; 16.72%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.08% | &nbsp;&nbsp;&nbsp;&nbsp; 5% | &nbsp;&nbsp;&nbsp;&nbsp; $2158332 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $60.04 | &nbsp;&nbsp;&nbsp;&nbsp; 18.14%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17% | &nbsp;&nbsp;&nbsp;&nbsp; 6% | &nbsp;&nbsp;&nbsp;&nbsp; $2275057 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $55.18 | &nbsp;&nbsp;&nbsp;&nbsp; 30.19%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.46% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $2387952 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $46.32 | &nbsp;&nbsp;&nbsp;&nbsp; (7.80%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.46% | &nbsp;&nbsp;&nbsp;&nbsp; 9% | &nbsp;&nbsp;&nbsp;&nbsp; $1961320 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $56.82 | &nbsp;&nbsp;&nbsp;&nbsp; 16.15%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $2497279 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $56.37 | &nbsp;&nbsp;&nbsp;&nbsp; 16.73%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09% | &nbsp;&nbsp;&nbsp;&nbsp; 5% | &nbsp;&nbsp;&nbsp;&nbsp; $168782 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $61.75 | &nbsp;&nbsp;&nbsp;&nbsp; 18.13%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17% | &nbsp;&nbsp;&nbsp;&nbsp; 6% | &nbsp;&nbsp;&nbsp;&nbsp; $184836 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $56.63 | &nbsp;&nbsp;&nbsp;&nbsp; 30.20%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.46% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $244016 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $47.43 | &nbsp;&nbsp;&nbsp;&nbsp; (7.79%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.43% | &nbsp;&nbsp;&nbsp;&nbsp; 9% | &nbsp;&nbsp;&nbsp;&nbsp; $194895 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $58.02 | &nbsp;&nbsp;&nbsp;&nbsp; 16.15%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $379872 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $52.32 | &nbsp;&nbsp;&nbsp;&nbsp; 16.71%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09% | &nbsp;&nbsp;&nbsp;&nbsp; 5% | &nbsp;&nbsp;&nbsp;&nbsp; $229031 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $58.29 | &nbsp;&nbsp;&nbsp;&nbsp; 18.14%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.19% | &nbsp;&nbsp;&nbsp;&nbsp; 6% | &nbsp;&nbsp;&nbsp;&nbsp; $243489 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $53.70 | &nbsp;&nbsp;&nbsp;&nbsp; 30.20%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.47% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $231191 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $45.18 | &nbsp;&nbsp;&nbsp;&nbsp; (7.81%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.49% | &nbsp;&nbsp;&nbsp;&nbsp; 9% | &nbsp;&nbsp;&nbsp;&nbsp; $224666 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $55.59 | &nbsp;&nbsp;&nbsp;&nbsp; 16.17%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.10% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $72594 |

---

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

Columbia Large Cap Index Fund \| 2026

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Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Large Cap Index Fund (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory 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**

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 Large Cap Index Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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

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Notes to Financial Statements (continued)

February 28, 2026

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 Large Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 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; 109,690<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 ($)** |
| Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 65,939<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 year ended February 28, 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>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 10357688 |
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; (496149)<br>|

---

Columbia Large Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

The following table is a summary of the average daily outstanding volume by derivative instrument for the year ended February 28, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 48365693 |

---

**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.

Columbia Large Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 and paid semi-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 0.20% of the Fund's daily net assets.

The Investment Manager, from the management services fee it receives from the Fund, pays all operating expenses of the Fund, with the exception of brokerage fees and commissions, taxes, interest, fees and expenses of Board of Trustees who are not officers, directors or employees of the Investment Manager or its affiliates, distribution and/or shareholder servicing and any extraordinary non-recurring expenses that may arise, including litigation fees.

**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. 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. The expenses of the Chief Compliance Officer allocated to the Fund are payable by the Investment Manager.

Columbia Large Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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 agency fees are payable by the Investment Manager. 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. The Transfer Agent also receives compensation from the Investment Manager for various shareholder services and reimbursements for certain out-of-pocket expenses.

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $980.

**Distribution and service fees**

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

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

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

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, 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>**June 30, 2026 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| 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;0.20 |

---

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

Columbia Large Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, re-characterization of distributions for investments, derivative investments, trustees' deferred compensation, distribution reclassifications, earnings and profits distributed to shareholders on the redemption of shares and miscellaneous adjustments. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Undistributed net** <br>**investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<br>|
| (423848)<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; (47602152)<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; 48026000 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 45641128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 702311667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 747952795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59510282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233956408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293466690 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 4236501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107568932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2418570650 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 595946509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2451311733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32741083)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2418570650 |

---

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.

Columbia Large Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $165,806,352 and $777,390,935, respectively, for the year ended February 28, 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 year ended February 28, 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 | 1116667 | &nbsp;&nbsp;&nbsp;&nbsp;4.82 | &nbsp;&nbsp;&nbsp;&nbsp; 6 |

---

Interest income earned by the Fund is recorded as Interfund lending in the Statement of Operations. The Fund had no outstanding interfund loans at February 28, 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 Large Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

The Fund had no borrowings during the year ended February 28, 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 February 28, 2026, affiliated shareholders of record owned 38.3% 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 Large Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 Large Cap Index Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Large Cap Index Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Large Cap Index Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Large Cap Index Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | | | |
|:---|:---|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dividends** <br>**received** <br>**deduction**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Section** <br>**199A** <br>**dividends**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital** <br>**gain** <br>**dividend**<br>|
| 87.49% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83.79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $551855930 |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.

Section 199A dividends. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents Section 199A dividends potentially eligible for a 20% deduction.

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Columbia Large Cap Index Fund \| 2026

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**Columbia Large Cap Index Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382imgf18808352.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/

ANN175_02_T01_(04/26)

------

![](g250382img9fc11d0d1.jpg)

Columbia Large Cap Growth Opportunity Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_66120e6c-3bfd-4bab-9a12-6177fb0edd71_POI-CommonContent-Date-93_1) | 3 |
| [Statement of Assets and Liabilities](#xx_66120e6c-3bfd-4bab-9a12-6177fb0edd71_FS-CommonContent-Date-93_1) | 6 |
| [Statement of Operations](#xx_66120e6c-3bfd-4bab-9a12-6177fb0edd71_FS-CommonContent-Date-93_2) | 7 |
| [Statement of Changes in Net Assets](#xx_66120e6c-3bfd-4bab-9a12-6177fb0edd71_FS-CommonContent-Date-93_3) | 8 |
| [Financial Highlights](#xx_66120e6c-3bfd-4bab-9a12-6177fb0edd71_FIHI-CommonContent-Date-93_1) | 10 |
| [Notes to Financial Statements](#xx_66120e6c-3bfd-4bab-9a12-6177fb0edd71_NTF-CommonContent-Date-93_1) | 14 |
| [Report of Independent Registered Public Accounting Firm](#xx_66120e6c-3bfd-4bab-9a12-6177fb0edd71_AUD-CommonContent-Date-93_1) | 22 |
| [Federal Income Tax Information](#xx_66120e6c-3bfd-4bab-9a12-6177fb0edd71_CCH-CommonContent-Date-93_1) | 23 |

---

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | |
|:---|:---|:---|
| **Common Stocks 99.5%** | **Common Stocks 99.5%** | **Common Stocks 99.5%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 13.5%** | **Communication Services 13.5%** | **Communication Services 13.5%** |
| **Entertainment 0.9%** | **Entertainment 0.9%** | **Entertainment 0.9%** |
| TKO Group Holdings, Inc. | &nbsp;&nbsp; 48872 | &nbsp;&nbsp; 10940975 |
| **Interactive Media & Services 12.6%** | **Interactive Media & Services 12.6%** | **Interactive Media & Services 12.6%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp; 294131 | &nbsp;&nbsp; 91698280 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp; 94088 | &nbsp;&nbsp; 60985960 |
| Total |  | &nbsp;&nbsp; 152684240 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **163625215** |
| **Consumer Discretionary 14.8%** | **Consumer Discretionary 14.8%** | **Consumer Discretionary 14.8%** |
| **Automobiles 1.4%** | **Automobiles 1.4%** | **Automobiles 1.4%** |
| Tesla, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 42423 | &nbsp;&nbsp; 17075682 |
| **Broadline Retail 6.5%** | **Broadline Retail 6.5%** | **Broadline Retail 6.5%** |
| Amazon.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 373294 | &nbsp;&nbsp; 78391740 |
| **Hotels, Restaurants & Leisure 3.5%** | **Hotels, Restaurants & Leisure 3.5%** | **Hotels, Restaurants & Leisure 3.5%** |
| Expedia Group, Inc. | &nbsp;&nbsp; 76485 | &nbsp;&nbsp; 16497050 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp; 43567 | &nbsp;&nbsp; 13583319 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp; 40498 | &nbsp;&nbsp; 12593258 |
| Total |  | &nbsp;&nbsp; 42673627 |
| **Specialty Retail 2.7%** | **Specialty Retail 2.7%** | **Specialty Retail 2.7%** |
| Gap, Inc. (The) | &nbsp;&nbsp; 531273 | &nbsp;&nbsp; 14896895 |
| TJX Companies, Inc. (The) | &nbsp;&nbsp; 108184 | &nbsp;&nbsp; 17489025 |
| Total |  | &nbsp;&nbsp; 32385920 |
| **Textiles, Apparel & Luxury Goods 0.7%** | **Textiles, Apparel & Luxury Goods 0.7%** | **Textiles, Apparel & Luxury Goods 0.7%** |
| NIKE, Inc., Class B | &nbsp;&nbsp; 129349 | &nbsp;&nbsp; 8042921 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **178569890** |
| **Consumer Staples 3.8%** | **Consumer Staples 3.8%** | **Consumer Staples 3.8%** |
| **Consumer Staples Distribution & Retail 2.8%** | **Consumer Staples Distribution & Retail 2.8%** | **Consumer Staples Distribution & Retail 2.8%** |
| Costco Wholesale Corp. | &nbsp;&nbsp; 33148 | &nbsp;&nbsp; 33505667 |
| **Household Products 1.0%** | **Household Products 1.0%** | **Household Products 1.0%** |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 124526 | &nbsp;&nbsp; 12345508 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **45851175** |
| **Financials 5.4%** | **Financials 5.4%** | **Financials 5.4%** |
| **Banks 1.4%** | **Banks 1.4%** | **Banks 1.4%** |
| Bank of America Corp. | &nbsp;&nbsp; 350758 | &nbsp;&nbsp; 17478271 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Capital Markets 0.9%** | **Capital Markets 0.9%** | **Capital Markets 0.9%** |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 13171 | &nbsp;&nbsp; 11321396 |
| **Financial Services 3.1%** | **Financial Services 3.1%** | **Financial Services 3.1%** |
| Visa, Inc., Class A | &nbsp;&nbsp; 116182 | &nbsp;&nbsp; 37194506 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **65994173** |
| **Health Care 10.2%** | **Health Care 10.2%** | **Health Care 10.2%** |
| **Biotechnology 3.8%** | **Biotechnology 3.8%** | **Biotechnology 3.8%** |
| Argenx SE, ADR<sup>(a)</sup> <br>| &nbsp;&nbsp; 11418 | &nbsp;&nbsp; 8756693 |
| Insmed, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 81845 | &nbsp;&nbsp; 12221914 |
| Revolution Medicines, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 97956 | &nbsp;&nbsp; 9993471 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 30175 | &nbsp;&nbsp; 14991845 |
| Total |  | &nbsp;&nbsp; 45963923 |
| **Health Care Equipment & Supplies 1.1%** | **Health Care Equipment & Supplies 1.1%** | **Health Care Equipment & Supplies 1.1%** |
| Intuitive Surgical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 26635 | &nbsp;&nbsp; 13410989 |
| **Life Sciences Tools & Services 1.1%** | **Life Sciences Tools & Services 1.1%** | **Life Sciences Tools & Services 1.1%** |
| Adaptive Biotechnologies Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 352306 | &nbsp;&nbsp; 5643942 |
| Illumina, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 52607 | &nbsp;&nbsp; 7073537 |
| Total |  | &nbsp;&nbsp; 12717479 |
| **Pharmaceuticals 4.2%** | **Pharmaceuticals 4.2%** | **Pharmaceuticals 4.2%** |
| Eli Lilly & Co. | &nbsp;&nbsp; 48295 | &nbsp;&nbsp; 50805857 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **122898248** |
| **Industrials 5.9%** | **Industrials 5.9%** | **Industrials 5.9%** |
| **Aerospace & Defense 0.8%** | **Aerospace & Defense 0.8%** | **Aerospace & Defense 0.8%** |
| Karman Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 106736 | &nbsp;&nbsp; 9404509 |
| **Commercial Services & Supplies 0.9%** | **Commercial Services & Supplies 0.9%** | **Commercial Services & Supplies 0.9%** |
| Cintas Corp. | &nbsp;&nbsp; 53542 | &nbsp;&nbsp; 10768902 |
| **Electrical Equipment 2.7%** | **Electrical Equipment 2.7%** | **Electrical Equipment 2.7%** |
| Eaton Corp. PLC | &nbsp;&nbsp; 28844 | &nbsp;&nbsp; 10843037 |
| Vertiv Holdings Co. | &nbsp;&nbsp; 83189 | &nbsp;&nbsp; 21204044 |
| Total |  | &nbsp;&nbsp; 32047081 |
| **Ground Transportation 1.5%** | **Ground Transportation 1.5%** | **Ground Transportation 1.5%** |
| Uber Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 247076 | &nbsp;&nbsp; 18634472 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **70854964** |

---

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

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Information Technology 44.8%** | **Information Technology 44.8%** | **Information Technology 44.8%** |
| **Communications Equipment 1.3%** | **Communications Equipment 1.3%** | **Communications Equipment 1.3%** |
| Arista Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 118308 | &nbsp;&nbsp; 15794118 |
| **Electronic Equipment, Instruments & Components 1.4%** | **Electronic Equipment, Instruments & Components 1.4%** | **Electronic Equipment, Instruments & Components 1.4%** |
| TE Connectivity PLC | &nbsp;&nbsp; 71450 | &nbsp;&nbsp; 16444217 |
| **Semiconductors & Semiconductor Equipment 20.5%** | **Semiconductors & Semiconductor Equipment 20.5%** | **Semiconductors & Semiconductor Equipment 20.5%** |
| Advanced Micro Devices, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 72220 | &nbsp;&nbsp; 14459166 |
| Broadcom, Inc. | &nbsp;&nbsp; 186824 | &nbsp;&nbsp; 59699609 |
| Micron Technology, Inc. | &nbsp;&nbsp; 32307 | &nbsp;&nbsp; 13322438 |
| NVIDIA Corp. | &nbsp;&nbsp; 909553 | &nbsp;&nbsp; 161163696 |
| Total |  | &nbsp;&nbsp; 248644909 |
| **Software 14.7%** | **Software 14.7%** | **Software 14.7%** |
| Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 40501 | &nbsp;&nbsp; 15065562 |
| Microsoft Corp. | &nbsp;&nbsp; 320960 | &nbsp;&nbsp; 126053831 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 39060 | &nbsp;&nbsp; 5358641 |
| Palo Alto Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 101502 | &nbsp;&nbsp; 15115678 |
| ServiceNow, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 148590 | &nbsp;&nbsp; 16049206 |
| Total |  | &nbsp;&nbsp; 177642918 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Technology Hardware, Storage & Peripherals 6.9%** | **Technology Hardware, Storage & Peripherals 6.9%** | **Technology Hardware, Storage & Peripherals 6.9%** |
| Apple, Inc. | &nbsp;&nbsp; 315967 | &nbsp;&nbsp; 83472162 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **541998324** |
| **Real Estate 1.1%** | **Real Estate 1.1%** | **Real Estate 1.1%** |
| **Specialized REITs 1.1%** | **Specialized REITs 1.1%** | **Specialized REITs 1.1%** |
| Equinix, Inc. | &nbsp;&nbsp; 14192 | &nbsp;&nbsp; 13826698 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **13826698** |
| Total Common Stocks <br>(Cost $745,395,278) | Total Common Stocks <br>(Cost $745,395,278) | &nbsp;&nbsp; **1203618687** |
| **Money Market Funds 0.6%** | **Money Market Funds 0.6%** | **Money Market Funds 0.6%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 6733100 | &nbsp;&nbsp; 6731753 |
| Total Money Market Funds <br>(Cost $6,730,902) | Total Money Market Funds <br>(Cost $6,730,902) | &nbsp;&nbsp; **6731753** |
| **Total Investments in Securities** <br>**(Cost: $752,126,180)** | **Total Investments in Securities** <br>**(Cost: $752,126,180)** | &nbsp;&nbsp; **1210350440** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(724464)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **1209625976** |

---

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) The rate shown is the seven-day current annualized yield at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 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, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 5643751 | &nbsp;&nbsp; 198874768 | &nbsp;&nbsp; (197786950)<br>| &nbsp;&nbsp; 184 | &nbsp;&nbsp; 6731753 | &nbsp;&nbsp; 220 | &nbsp;&nbsp; 250105 | &nbsp;&nbsp; 6733100 |

---

**Abbreviation Legend** 

ADR American Depositary Receipt

**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:

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

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

■

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 February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 163625215 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 163625215 |
| Consumer Discretionary | 178569890 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 178569890 |
| Consumer Staples | 45851175 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 45851175 |
| Financials | 65994173 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 65994173 |
| Health Care | 122898248 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 122898248 |
| Industrials | 70854964 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 70854964 |
| Information Technology | 541998324 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 541998324 |
| Real Estate | 13826698 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13826698 |
| Total Common Stocks | 1203618687 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1203618687 |
| Money Market Funds | 6731753 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6731753 |
| Total Investments in Securities | 1210350440 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1210350440 |

---

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 Large Cap Growth Opportunity Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $745,395,278) | $1203618687 |
| Affiliated issuers (cost $6,730,902) | 6731753 |
| Receivable for: |  |
| Investments sold | 10697830 |
| Capital shares sold | 364501 |
| Dividends | 654601 |
| Foreign tax reclaims | 12682 |
| Expense reimbursement due from Investment Manager | 2453 |
| Prepaid expenses | 4840 |
| Total assets | 1222087347 |
| **Liabilities** |  |
| Payable for: |  |
| Investments purchased | 9651840 |
| Capital shares redeemed | 2083968 |
| Management services fees | 24527 |
| Distribution and/or service fees | 6207 |
| Transfer agent fees | 103801 |
| Compensation of chief compliance officer | 212 |
| Compensation of board members | 2740 |
| Other expenses | 45381 |
| Deferred compensation of board members | 542695 |
| Total liabilities | 12461371 |
| **Net assets applicable to outstanding capital stock** | **$1209625976** |
| **Represented by** |  |
| Paid in capital | 701946032 |
| Total distributable earnings (loss) | 507679944 |
| **Total - representing net assets applicable to outstanding capital stock** | **$1209625976** |
| **Class A** |  |
| Net assets | $868154314 |
| Shares outstanding | 49992333 |
| Net asset value per share | $17.37 |
| 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) | $18.43 |
| **Institutional Class** |  |
| Net assets | $261081130 |
| Shares outstanding | 12169194 |
| Net asset value per share | $21.45 |
| **Institutional 2 Class** |  |
| Net assets | $28685741 |
| Shares outstanding | 1216268 |
| Net asset value per share | $23.59 |
| **Institutional 3 Class** |  |
| Net assets | $1852593 |
| Shares outstanding | 84757 |
| Net asset value per share | $21.86 |
| **Class R** |  |
| Net assets | $13369403 |
| Shares outstanding | 771761 |
| Net asset value per share | $17.32 |
| **Class S** |  |
| Net assets | $36482795 |
| Shares outstanding | 1700362 |
| Net asset value per share | $21.46 |

---

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

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $6044199 |
| Dividends — affiliated issuers | 250105 |
| Total income | 6294304 |
| Expenses: |  |
| Management services fees | 9139308 |
| Distribution and/or service fees |  |
| Class A | 2245934 |
| Class R | 75753 |
| Transfer agent fees |  |
| Class A | 961498 |
| Institutional Class | 290028 |
| Institutional 2 Class | 14661 |
| Institutional 3 Class | 110 |
| Class R | 16228 |
| Class S | 41684 |
| Custodian fees | 11111 |
| Printing and postage fees | 58369 |
| Registration fees | 101545 |
| Accounting services fees | 33324 |
| Legal fees | 35027 |
| Compensation of chief compliance officer | 192 |
| Compensation of board members | 23985 |
| Deferred compensation of board members | 68055 |
| Other | 41087 |
| Total expenses | 13157899 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (871019)<br>|
| Expense reduction | (634)<br>|
| Total net expenses | 12286246 |
| **Net investment loss** | (5991942)<br>|
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 88423806 |
| Investments — affiliated issuers | 220 |
| Net realized gain | 88424026 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 48502853 |
| Investments — affiliated issuers | 184 |
| Net change in unrealized appreciation (depreciation) | 48503037 |
| Net realized and unrealized gain | 136927063 |
| **Net increase in net assets resulting from operations** | **$130935121** |

---

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

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment loss | $(5991942)<br>| &nbsp;&nbsp; $(6183306)<br>|
| Net realized gain | 88424026 | &nbsp;&nbsp; 56929913 |
| Net change in unrealized appreciation (depreciation) | 48503037 | &nbsp;&nbsp; 123555974 |
| Net increase in net assets resulting from operations | 130935121 | &nbsp;&nbsp; 174302581 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (58753074)<br>| &nbsp;&nbsp; (34551170)<br>|
| Advisor Class |  | &nbsp;&nbsp; (427215)<br>|
| Institutional Class | (14493010)<br>| &nbsp;&nbsp; (9286614)<br>|
| Institutional 2 Class | (1350908)<br>| &nbsp;&nbsp; (730999)<br>|
| Institutional 3 Class | (77319)<br>| &nbsp;&nbsp; (32283)<br>|
| Class R | (993328)<br>| &nbsp;&nbsp; (653049)<br>|
| Class S | (2081631)<br>| &nbsp;&nbsp; (413317)<br>|
| Total distributions to shareholders | (77749270)<br>| &nbsp;&nbsp; (46094647)<br>|
| Decrease in net assets from capital stock activity | (106958165)<br>| &nbsp;&nbsp; (141076187)<br>|
| Total decrease in net assets | (53772314)<br>| &nbsp;&nbsp; (12868253)<br>|
| Net assets at beginning of year | 1263398290 | &nbsp;&nbsp; 1276266543 |
| **Net assets at end of year** | **$1209625976** | &nbsp;&nbsp; **$1263398290** |

---

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

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 1286335 | &nbsp;&nbsp;&nbsp;&nbsp; 22108986 | &nbsp;&nbsp;&nbsp;&nbsp; 1153342 | &nbsp;&nbsp;&nbsp;&nbsp; 18646203 |
| Distributions reinvested | 2364961 | &nbsp;&nbsp;&nbsp;&nbsp; 40955464 | &nbsp;&nbsp;&nbsp;&nbsp; 1447767 | &nbsp;&nbsp;&nbsp;&nbsp; 23886134 |
| Shares redeemed | (7763846)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (133648983)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8386361)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (135409741)<br>|
| Net decrease | (4112550)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (70584533)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5785252)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (92877404)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 152701 | &nbsp;&nbsp;&nbsp;&nbsp; 3044733 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20499 | &nbsp;&nbsp;&nbsp;&nbsp; 423723 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1170342)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25320397)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (997142)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (21851941)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 712861 | &nbsp;&nbsp;&nbsp;&nbsp; 14879283 | &nbsp;&nbsp;&nbsp;&nbsp; 1701580 | &nbsp;&nbsp;&nbsp;&nbsp; 34331780 |
| Distributions reinvested | 548752 | &nbsp;&nbsp;&nbsp;&nbsp; 11682661 | &nbsp;&nbsp;&nbsp;&nbsp; 381350 | &nbsp;&nbsp;&nbsp;&nbsp; 7619911 |
| Shares redeemed | (2632805)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (55268280)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5329081)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (104699097)<br>|
| Net decrease | (1371192)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (28706336)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3246151)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (62747406)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 212760 | &nbsp;&nbsp;&nbsp;&nbsp; 5120938 | &nbsp;&nbsp;&nbsp;&nbsp; 213197 | &nbsp;&nbsp;&nbsp;&nbsp; 4448203 |
| Distributions reinvested | 57614 | &nbsp;&nbsp;&nbsp;&nbsp; 1350908 | &nbsp;&nbsp;&nbsp;&nbsp; 33413 | &nbsp;&nbsp;&nbsp;&nbsp; 730999 |
| Shares redeemed | (215682)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5109124)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (278529)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5878138)<br>|
| Net increase (decrease) | 54692 | &nbsp;&nbsp;&nbsp;&nbsp; 1362722 | &nbsp;&nbsp;&nbsp;&nbsp; (31919)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (698936)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 46452 | &nbsp;&nbsp;&nbsp;&nbsp; 1029557 | &nbsp;&nbsp;&nbsp;&nbsp; 32361 | &nbsp;&nbsp;&nbsp;&nbsp; 647731 |
| Distributions reinvested | 3493 | &nbsp;&nbsp;&nbsp;&nbsp; 75393 | &nbsp;&nbsp;&nbsp;&nbsp; 1526 | &nbsp;&nbsp;&nbsp;&nbsp; 31001 |
| Shares redeemed | (26357)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (596464)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (31607)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (612127)<br>|
| Net increase | 23588 | &nbsp;&nbsp;&nbsp;&nbsp; 508486 | &nbsp;&nbsp;&nbsp;&nbsp; 2280 | &nbsp;&nbsp;&nbsp;&nbsp; 66605 |
| Class R |  |  |  |  |
| Shares sold | 80635 | &nbsp;&nbsp;&nbsp;&nbsp; 1394513 | &nbsp;&nbsp;&nbsp;&nbsp; 159865 | &nbsp;&nbsp;&nbsp;&nbsp; 2578014 |
| Distributions reinvested | 57411 | &nbsp;&nbsp;&nbsp;&nbsp; 993328 | &nbsp;&nbsp;&nbsp;&nbsp; 39539 | &nbsp;&nbsp;&nbsp;&nbsp; 653049 |
| Shares redeemed | (314799)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5395145)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (361682)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5914106)<br>|
| Net decrease | (176753)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3007304)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (162278)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2683043)<br>|
| Class S |  |  |  |  |
| Shares sold | 5462 | &nbsp;&nbsp;&nbsp;&nbsp; 122142 | &nbsp;&nbsp;&nbsp;&nbsp; 2127458 | &nbsp;&nbsp;&nbsp;&nbsp; 42132963 |
| Distributions reinvested | 97941 | &nbsp;&nbsp;&nbsp;&nbsp; 2081631 | &nbsp;&nbsp;&nbsp;&nbsp; 19188 | &nbsp;&nbsp;&nbsp;&nbsp; 413317 |
| Shares redeemed | (413156)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8734973)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (136531)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2830342)<br>|
| Net increase (decrease) | (309753)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6531200)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2010115 | &nbsp;&nbsp;&nbsp;&nbsp; 39715938 |
| **Total net decrease** | **(5891968)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(106958165)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(8210347)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(141076187)**<br>|

---

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

Columbia Large Cap Growth Opportunity 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>**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** |
| Year Ended 2/28/2026 | $16.71 | &nbsp;&nbsp; (0.09)<br>| 1.90 | 1.81 | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp; (1.15)<br>|
| Year Ended 2/28/2025 | $15.16 | &nbsp;&nbsp; (0.09)<br>| 2.25 | 2.16 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.61)<br>|
| Year Ended 2/29/2024 | $11.39 | &nbsp;&nbsp; (0.01)<br>| 3.78 | 3.77 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 2/28/2023 | $16.74 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (2.75)<br>| &nbsp;&nbsp; (2.77)<br>| &nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp; (2.58)<br>|
| Year Ended 2/28/2022 | $23.37 | &nbsp;&nbsp; (0.09)<br>| 1.57 | 1.48 | &nbsp;&nbsp; (8.11)<br>| &nbsp;&nbsp; (8.11)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $20.35 | &nbsp;&nbsp; (0.06)<br>| 2.31 | 2.25 | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp; (1.15)<br>|
| Year Ended 2/28/2025 | $18.30 | &nbsp;&nbsp; (0.06)<br>| 2.72 | 2.66 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.61)<br>|
| Year Ended 2/29/2024 | $13.71 | 0.03 | 4.56 | 4.59 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 2/28/2023 | $19.45 | 0.02 | &nbsp;&nbsp; (3.18)<br>| &nbsp;&nbsp; (3.16)<br>| &nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp; (2.58)<br>|
| Year Ended 2/28/2022 | $26.05 | &nbsp;&nbsp; (0.03)<br>| 1.65 | 1.62 | &nbsp;&nbsp; (8.22)<br>| &nbsp;&nbsp; (8.22)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | $22.25 | &nbsp;&nbsp; (0.05)<br>| 2.54 | 2.49 | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp; (1.15)<br>|
| Year Ended 2/28/2025 | $19.94 | &nbsp;&nbsp; (0.05)<br>| 2.97 | 2.92 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.61)<br>|
| Year Ended 2/29/2024 | $14.94 | 0.04 | 4.96 | 5.00 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 2/28/2023 | $20.90 | 0.03 | &nbsp;&nbsp; (3.41)<br>| &nbsp;&nbsp; (3.38)<br>| &nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp; (2.58)<br>|
| Year Ended 2/28/2022 | $27.46 | &nbsp;&nbsp; (0.02)<br>| 1.70 | 1.68 | &nbsp;&nbsp; (8.24)<br>| &nbsp;&nbsp; (8.24)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | $20.69 | &nbsp;&nbsp; (0.04)<br>| 2.36 | 2.32 | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp; (1.15)<br>|
| Year Ended 2/28/2025 | $18.58 | &nbsp;&nbsp; (0.04)<br>| 2.76 | 2.72 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.61)<br>|
| Year Ended 2/29/2024 | $13.90 | 0.04 | 4.64 | 4.68 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 2/28/2023 | $19.67 | 0.04 | &nbsp;&nbsp; (3.23)<br>| &nbsp;&nbsp; (3.19)<br>| &nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp; (2.58)<br>|
| Year Ended 2/28/2022 | $26.27 | &nbsp;&nbsp; (0.01)<br>| 1.67 | 1.66 | &nbsp;&nbsp; (8.26)<br>| &nbsp;&nbsp; (8.26)<br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | $16.71 | &nbsp;&nbsp; (0.14)<br>| 1.90 | 1.76 | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp; (1.15)<br>|
| Year Ended 2/28/2025 | $15.20 | &nbsp;&nbsp; (0.13)<br>| 2.25 | 2.12 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.61)<br>|
| Year Ended 2/29/2024 | $11.45 | &nbsp;&nbsp; (0.04)<br>| 3.79 | 3.75 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 2/28/2023 | $16.85 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (2.77)<br>| &nbsp;&nbsp; (2.82)<br>| &nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp; (2.58)<br>|
| Year Ended 2/28/2022 | $23.44 | &nbsp;&nbsp; (0.15)<br>| 1.57 | 1.42 | &nbsp;&nbsp; (8.01)<br>| &nbsp;&nbsp; (8.01)<br>|

---

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

Columbia Large Cap Growth Opportunity 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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $17.37 | &nbsp;&nbsp;&nbsp;&nbsp; 10.97% | &nbsp;&nbsp;&nbsp;&nbsp; 1.12% | &nbsp;&nbsp;&nbsp;&nbsp; 1.05% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.54%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 53% | &nbsp;&nbsp;&nbsp;&nbsp; $868154 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $16.71 | &nbsp;&nbsp;&nbsp;&nbsp; 14.32% | &nbsp;&nbsp;&nbsp;&nbsp; 1.11% | &nbsp;&nbsp;&nbsp;&nbsp; 1.05% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.54%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $904058 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $15.16 | &nbsp;&nbsp;&nbsp;&nbsp; 33.10% | &nbsp;&nbsp;&nbsp;&nbsp; 1.13% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.05% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.09%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp;&nbsp; $907931 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.39 | &nbsp;&nbsp;&nbsp;&nbsp; (15.76%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.05% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.13%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 74% | &nbsp;&nbsp;&nbsp;&nbsp; $766362 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $16.74 | &nbsp;&nbsp;&nbsp;&nbsp; 2.77% | &nbsp;&nbsp;&nbsp;&nbsp; 1.08% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.04% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.38%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 93% | &nbsp;&nbsp;&nbsp;&nbsp; $1094509 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $21.45 | &nbsp;&nbsp;&nbsp;&nbsp; 11.17% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.29%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 53% | &nbsp;&nbsp;&nbsp;&nbsp; $261081 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $20.35 | &nbsp;&nbsp;&nbsp;&nbsp; 14.60% | &nbsp;&nbsp;&nbsp;&nbsp; 0.86% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.30%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $275482 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $18.30 | &nbsp;&nbsp;&nbsp;&nbsp; 33.48% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16% | &nbsp;&nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp;&nbsp; $307125 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $13.71 | &nbsp;&nbsp;&nbsp;&nbsp; (15.55%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.86% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.12% | &nbsp;&nbsp;&nbsp;&nbsp; 74% | &nbsp;&nbsp;&nbsp;&nbsp; $282203 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $19.45 | &nbsp;&nbsp;&nbsp;&nbsp; 2.99% | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.79% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.14%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 93% | &nbsp;&nbsp;&nbsp;&nbsp; $468670 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $23.59 | &nbsp;&nbsp;&nbsp;&nbsp; 11.30% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; (0.24%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 53% | &nbsp;&nbsp;&nbsp;&nbsp; $28686 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $22.25 | &nbsp;&nbsp;&nbsp;&nbsp; 14.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; (0.24%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $25843 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $19.94 | &nbsp;&nbsp;&nbsp;&nbsp; 33.47% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22% | &nbsp;&nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp;&nbsp; $23803 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.94 | &nbsp;&nbsp;&nbsp;&nbsp; (15.51%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.18% | &nbsp;&nbsp;&nbsp;&nbsp; 74% | &nbsp;&nbsp;&nbsp;&nbsp; $20199 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $20.90 | &nbsp;&nbsp;&nbsp;&nbsp; 3.09% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.08%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 93% | &nbsp;&nbsp;&nbsp;&nbsp; $31012 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $21.86 | &nbsp;&nbsp;&nbsp;&nbsp; 11.33% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; (0.18%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 53% | &nbsp;&nbsp;&nbsp;&nbsp; $1853 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $20.69 | &nbsp;&nbsp;&nbsp;&nbsp; 14.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; (0.19%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $1266 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $18.58 | &nbsp;&nbsp;&nbsp;&nbsp; 33.67% | &nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.26% | &nbsp;&nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp;&nbsp; $1094 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $13.90 | &nbsp;&nbsp;&nbsp;&nbsp; (15.52%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 74% | &nbsp;&nbsp;&nbsp;&nbsp; $993 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $19.67 | &nbsp;&nbsp;&nbsp;&nbsp; 3.14% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.03%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 93% | &nbsp;&nbsp;&nbsp;&nbsp; $1406 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $17.32 | &nbsp;&nbsp;&nbsp;&nbsp; 10.66% | &nbsp;&nbsp;&nbsp;&nbsp; 1.37% | &nbsp;&nbsp;&nbsp;&nbsp; 1.30% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.79%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 53% | &nbsp;&nbsp;&nbsp;&nbsp; $13369 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $16.71 | &nbsp;&nbsp;&nbsp;&nbsp; 14.01% | &nbsp;&nbsp;&nbsp;&nbsp; 1.36% | &nbsp;&nbsp;&nbsp;&nbsp; 1.30% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.79%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $15851 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $15.20 | &nbsp;&nbsp;&nbsp;&nbsp; 32.75% | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.30% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.34%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp;&nbsp; $16883 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.45 | &nbsp;&nbsp;&nbsp;&nbsp; (15.98%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.37% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.30% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.38%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 74% | &nbsp;&nbsp;&nbsp;&nbsp; $14256 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $16.85 | &nbsp;&nbsp;&nbsp;&nbsp; 2.50% | &nbsp;&nbsp;&nbsp;&nbsp; 1.33% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.29% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.64%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 93% | &nbsp;&nbsp;&nbsp;&nbsp; $20484 |

---

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

Columbia Large Cap Growth Opportunity 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>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | $20.35 | &nbsp;&nbsp; (0.06)<br>| 2.32 | 2.26 | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp; (1.15)<br>|
| Year Ended 2/28/2025<sup>(e)</sup> <br>| $19.56 | &nbsp;&nbsp; (0.02)<br>| 1.01 | 0.99 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.20)<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) | 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 Large Cap Growth Opportunity Fund \| 2026

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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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $21.46 | &nbsp;&nbsp;&nbsp;&nbsp; 11.22% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.29%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 53% | &nbsp;&nbsp;&nbsp;&nbsp; $36483 |
|  Year Ended 2/28/2025 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.35 | &nbsp;&nbsp;&nbsp;&nbsp; 5.01% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% | &nbsp;&nbsp;&nbsp;&nbsp; (0.29%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $40899 |

---

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

Columbia Large Cap Growth Opportunity Fund \| 2026

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Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Large Cap Growth Opportunity Fund (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory trust.

**Fund shares**

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

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

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 Large Cap Growth Opportunity Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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

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

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

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

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

**Security transactions**

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

**Income recognition**

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

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

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

Columbia Large Cap Growth Opportunity Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

**Expenses**

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

**Determination of class net asset value**

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

**Federal income tax status**

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

**Distributions to shareholders**

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

**Guarantees and indemnifications**

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

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.77% to 0.57% as the Fund's net assets increase. The effective management services fee rate for the year ended February 28, 2026 was 0.73% 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 Large Cap Growth Opportunity Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

**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 year ended February 28, 2026, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.11 |
| Institutional Class | 0.11 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.01 |
| Class R | 0.11 |
| Class S | 0.11 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $634.

**Distribution and service fees**

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

Columbia Large Cap Growth Opportunity Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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

**Sales charges (unaudited)**

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the year ended February 28, 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; 65653 |

---

&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.

**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>**June 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;1.05 |
| 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;0.80 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.80 |

---

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, late-year ordinary losses, trustees' deferred compensation and net operating loss reclassification. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Excess of distributions** <br>**over net investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<br>|
| 5888018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5888018)<br>|

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77749270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77749270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46094647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46094647 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52265453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 456960275 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 753390165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 468448376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11488101)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 456960275 |

---

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

Under current tax rules, regulated investment companies can elect to treat certain late-year ordinary losses incurred and post-October capital losses (capital losses realized after October 31) as arising on the first day of the following taxable year. As of February 28, 2026, the Fund will elect to treat the following late-year ordinary losses and post-October capital losses as arising on March 1, 2026.

---

| | |
|:---|:---|
| **Late year** <br>**ordinary losses ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Post-October** <br>**capital losses ($)**<br>|
| 1003089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

---

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

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $664,588,344 and $855,988,396, respectively, for the year ended February 28, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 year ended February 28, 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 year ended February 28, 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 Large Cap Growth Opportunity Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, one unaffiliated shareholder of record owned 25.5% 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. 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 Large Cap Growth Opportunity Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Large Cap Growth Opportunity Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Large Cap Growth Opportunity Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Large Cap Growth Opportunity Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| |
|:---|
| **Capital** <br>**gain** <br>**dividend**<br>|
| $92903028 |

---

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Columbia Large Cap Growth Opportunity Fund \| 2026

------

**Columbia Large Cap Growth Opportunity Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382imgfeb84b582.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/

ANN186_02_T01_(04/26)

------

![](g250382img6fa85b851.jpg)

Columbia Mid Cap Index Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_c9688405-3044-4e1d-950f-5fbd26e1363c_POI-CommonContent-Date-103_1) | 3 |
| [Statement of Assets and Liabilities](#xx_c9688405-3044-4e1d-950f-5fbd26e1363c_FS-CommonContent-Date-103_1) | 13 |
| [Statement of Operations](#xx_c9688405-3044-4e1d-950f-5fbd26e1363c_FS-CommonContent-Date-103_2) | 14 |
| [Statement of Changes in Net Assets](#xx_c9688405-3044-4e1d-950f-5fbd26e1363c_FS-CommonContent-Date-103_3) | 15 |
| [Financial Highlights](#xx_c9688405-3044-4e1d-950f-5fbd26e1363c_FIHI-CommonContent-Date-103_1) | 16 |
| [Notes to Financial Statements](#xx_c9688405-3044-4e1d-950f-5fbd26e1363c_NTF-CommonContent-Date-103_1) | 20 |
| [Report of Independent Registered Public Accounting Firm](#xx_c9688405-3044-4e1d-950f-5fbd26e1363c_AUD-CommonContent-Date-103_1) | 31 |
| [Federal Income Tax Information](#xx_c9688405-3044-4e1d-950f-5fbd26e1363c_CCH-CommonContent-Date-103_1) | 32 |

---

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(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 1.5%** | **Communication Services 1.5%** | **Communication Services 1.5%** |
| **Entertainment 0.1%** | **Entertainment 0.1%** | **Entertainment 0.1%** |
| Warner Music Group Corp., Class A | &nbsp;&nbsp; 107576 | &nbsp;&nbsp; 3076674 |
| **Interactive Media & Services 0.4%** | **Interactive Media & Services 0.4%** | **Interactive Media & Services 0.4%** |
| Pinterest, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 439365 | &nbsp;&nbsp; 7526322 |
| ZoomInfo Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 202194 | &nbsp;&nbsp; 1255625 |
| Total |  | &nbsp;&nbsp; 8781947 |
| **Media 1.0%** | **Media 1.0%** | **Media 1.0%** |
| EchoStar Corp., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 99263 | &nbsp;&nbsp; 11467854 |
| New York Times Co. (The), Class A | &nbsp;&nbsp; 119139 | &nbsp;&nbsp; 9506101 |
| Nexstar Media Group, Inc., Class A | &nbsp;&nbsp; 21020 | &nbsp;&nbsp; 5276440 |
| Total |  | &nbsp;&nbsp; 26250395 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **38109016** |
| **Consumer Discretionary 11.0%** | **Consumer Discretionary 11.0%** | **Consumer Discretionary 11.0%** |
| **Automobile Components 1.1%** | **Automobile Components 1.1%** | **Automobile Components 1.1%** |
| Autoliv, Inc. | &nbsp;&nbsp; 51535 | &nbsp;&nbsp; 6107928 |
| BorgWarner, Inc. | &nbsp;&nbsp; 157749 | &nbsp;&nbsp; 9081610 |
| Gentex Corp. | &nbsp;&nbsp; 161447 | &nbsp;&nbsp; 3777860 |
| Goodyear Tire & Rubber Co. (The)<sup>(a)</sup> <br>| &nbsp;&nbsp; 211012 | &nbsp;&nbsp; 1740849 |
| Lear Corp. | &nbsp;&nbsp; 38248 | &nbsp;&nbsp; 5020050 |
| Visteon Corp. | &nbsp;&nbsp; 20120 | &nbsp;&nbsp; 1924880 |
| Total |  | &nbsp;&nbsp; 27653177 |
| **Automobiles 0.2%** | **Automobiles 0.2%** | **Automobiles 0.2%** |
| Harley-Davidson, Inc. | &nbsp;&nbsp; 87117 | &nbsp;&nbsp; 1568106 |
| Thor Industries, Inc. | &nbsp;&nbsp; 38811 | &nbsp;&nbsp; 3730902 |
| Total |  | &nbsp;&nbsp; 5299008 |
| **Broadline Retail 0.3%** | **Broadline Retail 0.3%** | **Broadline Retail 0.3%** |
| Macy's, Inc. | &nbsp;&nbsp; 197994 | &nbsp;&nbsp; 3916321 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 45209 | &nbsp;&nbsp; 4841884 |
| Total |  | &nbsp;&nbsp; 8758205 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Diversified Consumer Services 0.8%** | **Diversified Consumer Services 0.8%** | **Diversified Consumer Services 0.8%** |
| Duolingo, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 29506 | &nbsp;&nbsp; 2980106 |
| Graham Holdings Co., Class B | &nbsp;&nbsp; 2506 | &nbsp;&nbsp; 2639344 |
| Grand Canyon Education, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 20375 | &nbsp;&nbsp; 3241051 |
| H&R Block, Inc. | &nbsp;&nbsp; 93225 | &nbsp;&nbsp; 2854550 |
| Service Corp. International | &nbsp;&nbsp; 103368 | &nbsp;&nbsp; 8701518 |
| Total |  | &nbsp;&nbsp; 20416569 |
| **Hotels, Restaurants & Leisure 2.6%** | **Hotels, Restaurants & Leisure 2.6%** | **Hotels, Restaurants & Leisure 2.6%** |
| Aramark | &nbsp;&nbsp; 193824 | &nbsp;&nbsp; 8111534 |
| Boyd Gaming Corp. | &nbsp;&nbsp; 42629 | &nbsp;&nbsp; 3548012 |
| Cava Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 73553 | &nbsp;&nbsp; 6065916 |
| Choice Hotels International, Inc. | &nbsp;&nbsp; 15241 | &nbsp;&nbsp; 1605639 |
| Churchill Downs, Inc. | &nbsp;&nbsp; 48847 | &nbsp;&nbsp; 4490505 |
| Dutch Bros, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 93671 | &nbsp;&nbsp; 5021702 |
| Hilton Grand Vacations, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 44155 | &nbsp;&nbsp; 1985209 |
| Hyatt Hotels Corp., Class A | &nbsp;&nbsp; 30837 | &nbsp;&nbsp; 4980175 |
| Planet Fitness, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 61191 | &nbsp;&nbsp; 5026841 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp; 48775 | &nbsp;&nbsp; 8919484 |
| Travel + Leisure Co. | &nbsp;&nbsp; 47433 | &nbsp;&nbsp; 3495812 |
| Vail Resorts, Inc. | &nbsp;&nbsp; 26511 | &nbsp;&nbsp; 3600459 |
| Wingstop, Inc. | &nbsp;&nbsp; 20490 | &nbsp;&nbsp; 5317360 |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp; 55711 | &nbsp;&nbsp; 4557160 |
| Total |  | &nbsp;&nbsp; 66725808 |
| **Household Durables 1.8%** | **Household Durables 1.8%** | **Household Durables 1.8%** |
| KB Home | &nbsp;&nbsp; 47757 | &nbsp;&nbsp; 3036390 |
| Somnigroup International, Inc. | &nbsp;&nbsp; 154784 | &nbsp;&nbsp; 13854716 |
| Taylor Morrison Home Corp., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 72062 | &nbsp;&nbsp; 4748165 |
| Toll Brothers, Inc. | &nbsp;&nbsp; 71072 | &nbsp;&nbsp; 11175361 |
| TopBuild Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 20581 | &nbsp;&nbsp; 9226463 |
| Whirlpool Corp. | &nbsp;&nbsp; 46474 | &nbsp;&nbsp; 3180216 |
| Total |  | &nbsp;&nbsp; 45221311 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Leisure Products 0.5%** | **Leisure Products 0.5%** | **Leisure Products 0.5%** |
| Brunswick Corp. | &nbsp;&nbsp; 47958 | &nbsp;&nbsp; 3818416 |
| Mattel, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 229181 | &nbsp;&nbsp; 3884618 |
| Polaris, Inc. | &nbsp;&nbsp; 39403 | &nbsp;&nbsp; 2393338 |
| YETI Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 57375 | &nbsp;&nbsp; 2507862 |
| Total |  | &nbsp;&nbsp; 12604234 |
| **Specialty Retail 3.2%** | **Specialty Retail 3.2%** | **Specialty Retail 3.2%** |
| Abercrombie & Fitch Co., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 34709 | &nbsp;&nbsp; 3394540 |
| AutoNation, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 20171 | &nbsp;&nbsp; 3936572 |
| Bath & Body Works, Inc. | &nbsp;&nbsp; 152041 | &nbsp;&nbsp; 3460453 |
| Burlington Stores, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 45918 | &nbsp;&nbsp; 14090857 |
| Chewy, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 165959 | &nbsp;&nbsp; 4550596 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp; 48746 | &nbsp;&nbsp; 9926148 |
| Five Below, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 40663 | &nbsp;&nbsp; 9089400 |
| Floor & Decor Holdings, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 79458 | &nbsp;&nbsp; 5489753 |
| GameStop Corp., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 303861 | &nbsp;&nbsp; 7301780 |
| Gap, Inc. (The) | &nbsp;&nbsp; 166900 | &nbsp;&nbsp; 4679876 |
| Lithia Motors, Inc., Class A | &nbsp;&nbsp; 17882 | &nbsp;&nbsp; 4999450 |
| Murphy U.S.A., Inc. | &nbsp;&nbsp; 12571 | &nbsp;&nbsp; 4911993 |
| Penske Automotive Group, Inc. | &nbsp;&nbsp; 13598 | &nbsp;&nbsp; 2141957 |
| Restoration Hardware Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 11334 | &nbsp;&nbsp; 1878157 |
| Valvoline, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 93733 | &nbsp;&nbsp; 3543107 |
| Total |  | &nbsp;&nbsp; 83394639 |
| **Textiles, Apparel & Luxury Goods 0.5%** | **Textiles, Apparel & Luxury Goods 0.5%** | **Textiles, Apparel & Luxury Goods 0.5%** |
| Capri Holdings Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 87855 | &nbsp;&nbsp; 1801906 |
| Columbia Sportswear Co. | &nbsp;&nbsp; 18677 | &nbsp;&nbsp; 1156853 |
| Crocs, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 38282 | &nbsp;&nbsp; 3472560 |
| PVH Corp. | &nbsp;&nbsp; 35483 | &nbsp;&nbsp; 2434134 |
| VF Corp. | &nbsp;&nbsp; 242018 | &nbsp;&nbsp; 4699990 |
| Total |  | &nbsp;&nbsp; 13565443 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **283638394** |
| **Consumer Staples 4.4%** | **Consumer Staples 4.4%** | **Consumer Staples 4.4%** |
| **Beverages 0.6%** | **Beverages 0.6%** | **Beverages 0.6%** |
| Boston Beer Co., Inc. (The), Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 5672 | &nbsp;&nbsp; 1286296 |
| Celsius Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 117855 | &nbsp;&nbsp; 6318207 |
| Coca-Cola Bottling Co. Consolidated | &nbsp;&nbsp; 41712 | &nbsp;&nbsp; 8442509 |
| Total |  | &nbsp;&nbsp; 16047012 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Staples Distribution & Retail 2.8%** | **Consumer Staples Distribution & Retail 2.8%** | **Consumer Staples Distribution & Retail 2.8%** |
| Albertsons Companies, Inc., Class A | &nbsp;&nbsp; 291639 | &nbsp;&nbsp; 5220338 |
| BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 97153 | &nbsp;&nbsp; 9597745 |
| Casey's General Stores, Inc. | &nbsp;&nbsp; 27417 | &nbsp;&nbsp; 18796821 |
| Maplebear, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 135513 | &nbsp;&nbsp; 5083093 |
| Performance Food Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 115632 | &nbsp;&nbsp; 11223242 |
| Sprouts Farmers Market, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 71799 | &nbsp;&nbsp; 5303792 |
| U.S. Foods Holding Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 164395 | &nbsp;&nbsp; 15882201 |
| Total |  | &nbsp;&nbsp; 71107232 |
| **Food Products 0.8%** | **Food Products 0.8%** | **Food Products 0.8%** |
| Darling Ingredients, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 116645 | &nbsp;&nbsp; 6200848 |
| Flowers Foods, Inc. | &nbsp;&nbsp; 155721 | &nbsp;&nbsp; 1538524 |
| Ingredion, Inc. | &nbsp;&nbsp; 46846 | &nbsp;&nbsp; 5502531 |
| Marzetti Co. (The) | &nbsp;&nbsp; 14998 | &nbsp;&nbsp; 2464771 |
| Pilgrim's Pride Corp. | &nbsp;&nbsp; 31530 | &nbsp;&nbsp; 1360835 |
| Post Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 35248 | &nbsp;&nbsp; 3746862 |
| Total |  | &nbsp;&nbsp; 20814371 |
| **Personal Care Products 0.2%** | **Personal Care Products 0.2%** | **Personal Care Products 0.2%** |
| BellRing Brands, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 92896 | &nbsp;&nbsp; 1708357 |
| Coty, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 270873 | &nbsp;&nbsp; 679891 |
| elf Beauty, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 43976 | &nbsp;&nbsp; 4047991 |
| Total |  | &nbsp;&nbsp; 6436239 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **114404854** |
| **Energy 4.5%** | **Energy 4.5%** | **Energy 4.5%** |
| **Energy Equipment & Services 1.4%** | **Energy Equipment & Services 1.4%** | **Energy Equipment & Services 1.4%** |
| NOV, Inc. | &nbsp;&nbsp; 268965 | &nbsp;&nbsp; 5449231 |
| TechnipFMC PLC | &nbsp;&nbsp; 298289 | &nbsp;&nbsp; 19779543 |
| Valaris Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 47714 | &nbsp;&nbsp; 4573387 |
| Weatherford International PLC | &nbsp;&nbsp; 52893 | &nbsp;&nbsp; 5578096 |
| Total |  | &nbsp;&nbsp; 35380257 |
| **Oil, Gas & Consumable Fuels 3.1%** | **Oil, Gas & Consumable Fuels 3.1%** | **Oil, Gas & Consumable Fuels 3.1%** |
| Antero Midstream Corp. | &nbsp;&nbsp; 245841 | &nbsp;&nbsp; 5526506 |
| Antero Resources Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 216107 | &nbsp;&nbsp; 7954899 |
| Chord Energy Corp. | &nbsp;&nbsp; 41932 | &nbsp;&nbsp; 4544171 |
| CNX Resources Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 99425 | &nbsp;&nbsp; 4153977 |
| DT Midstream, Inc. | &nbsp;&nbsp; 74973 | &nbsp;&nbsp; 10409251 |
| HF Sinclair Corp. | &nbsp;&nbsp; 115295 | &nbsp;&nbsp; 5765903 |
| Matador Resources Co. | &nbsp;&nbsp; 86138 | &nbsp;&nbsp; 4427493 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Murphy Oil Corp. | &nbsp;&nbsp; 98939 | &nbsp;&nbsp; 3279828 |
| Ovintiv, Inc. | &nbsp;&nbsp; 206987 | &nbsp;&nbsp; 10471472 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp; 60651 | &nbsp;&nbsp; 2159176 |
| Permian Resources Corp. | &nbsp;&nbsp; 512022 | &nbsp;&nbsp; 9364882 |
| Range Resources Corp. | &nbsp;&nbsp; 174714 | &nbsp;&nbsp; 7212194 |
| Viper Energy, Inc., Class A | &nbsp;&nbsp; 124199 | &nbsp;&nbsp; 5780221 |
| Total |  | &nbsp;&nbsp; 81049973 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **116430230** |
| **Financials 14.3%** | **Financials 14.3%** | **Financials 14.3%** |
| **Banks 5.6%** | **Banks 5.6%** | **Banks 5.6%** |
| Associated Banc-Corp. | &nbsp;&nbsp; 120558 | &nbsp;&nbsp; 3183937 |
| Bank OZK | &nbsp;&nbsp; 78077 | &nbsp;&nbsp; 3635265 |
| Columbia Banking System, Inc. | &nbsp;&nbsp; 220569 | &nbsp;&nbsp; 6275188 |
| Commerce Bancshares, Inc. | &nbsp;&nbsp; 95347 | &nbsp;&nbsp; 4861744 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp; 47150 | &nbsp;&nbsp; 6517073 |
| East West Bancorp, Inc. | &nbsp;&nbsp; 101455 | &nbsp;&nbsp; 11104250 |
| First Financial Bankshares, Inc. | &nbsp;&nbsp; 96095 | &nbsp;&nbsp; 2972218 |
| First Horizon Corp. | &nbsp;&nbsp; 363087 | &nbsp;&nbsp; 8637840 |
| Flagstar Bank | &nbsp;&nbsp; 220734 | &nbsp;&nbsp; 2801114 |
| FNB Corp. | &nbsp;&nbsp; 264087 | &nbsp;&nbsp; 4486838 |
| Glacier Bancorp, Inc. | &nbsp;&nbsp; 94859 | &nbsp;&nbsp; 4315136 |
| Hancock Whitney Corp. | &nbsp;&nbsp; 61655 | &nbsp;&nbsp; 4057516 |
| Home Bancshares, Inc. | &nbsp;&nbsp; 134783 | &nbsp;&nbsp; 3701141 |
| International Bancshares Corp. | &nbsp;&nbsp; 39880 | &nbsp;&nbsp; 2676347 |
| Old National Bancorp | &nbsp;&nbsp; 256456 | &nbsp;&nbsp; 5924134 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp; 110327 | &nbsp;&nbsp; 10013279 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp; 70046 | &nbsp;&nbsp; 4929137 |
| Southstate Bank Corp. | &nbsp;&nbsp; 74119 | &nbsp;&nbsp; 7313322 |
| Texas Capital Bancshares, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 33657 | &nbsp;&nbsp; 3207512 |
| UMB Financial Corp. | &nbsp;&nbsp; 52648 | &nbsp;&nbsp; 6100850 |
| United Bankshares, Inc. | &nbsp;&nbsp; 103300 | &nbsp;&nbsp; 4266290 |
| Valley National Bancorp | &nbsp;&nbsp; 353628 | &nbsp;&nbsp; 4459249 |
| Webster Financial Corp. | &nbsp;&nbsp; 118934 | &nbsp;&nbsp; 8578709 |
| Western Alliance Bancorp | &nbsp;&nbsp; 76114 | &nbsp;&nbsp; 6113476 |
| Wintrust Financial Corp. | &nbsp;&nbsp; 49384 | &nbsp;&nbsp; 7114259 |
| Zions Bancorp NA | &nbsp;&nbsp; 108869 | &nbsp;&nbsp; 6236016 |
| Total |  | &nbsp;&nbsp; 143481840 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Capital Markets 2.5%** | **Capital Markets 2.5%** | **Capital Markets 2.5%** |
| Affiliated Managers Group, Inc. | &nbsp;&nbsp; 20742 | &nbsp;&nbsp; 6350786 |
| Carlyle Group, Inc. (The) | &nbsp;&nbsp; 191349 | &nbsp;&nbsp; 9948234 |
| Evercore, Inc., Class A | &nbsp;&nbsp; 28521 | &nbsp;&nbsp; 8808426 |
| Federated Hermes, Inc., Class B | &nbsp;&nbsp; 54494 | &nbsp;&nbsp; 3052209 |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp; 30151 | &nbsp;&nbsp; 3164046 |
| Houlihan Lokey, Inc., Class A | &nbsp;&nbsp; 40199 | &nbsp;&nbsp; 6583390 |
| Janus Henderson Group PLC | &nbsp;&nbsp; 91127 | &nbsp;&nbsp; 4747717 |
| Jefferies Financial Group, Inc. | &nbsp;&nbsp; 121687 | &nbsp;&nbsp; 5402903 |
| Morningstar, Inc. | &nbsp;&nbsp; 17590 | &nbsp;&nbsp; 3221433 |
| SEI Investments Co. | &nbsp;&nbsp; 68617 | &nbsp;&nbsp; 5579934 |
| Stifel Financial Corp. | &nbsp;&nbsp; 112630 | &nbsp;&nbsp; 8340251 |
| Total |  | &nbsp;&nbsp; 65199329 |
| **Consumer Finance 0.6%** | **Consumer Finance 0.6%** | **Consumer Finance 0.6%** |
| Ally Financial, Inc. | &nbsp;&nbsp; 206711 | &nbsp;&nbsp; 8152682 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp; 28639 | &nbsp;&nbsp; 5521313 |
| SLM Corp. | &nbsp;&nbsp; 149719 | &nbsp;&nbsp; 2805734 |
| Total |  | &nbsp;&nbsp; 16479729 |
| **Financial Services 1.4%** | **Financial Services 1.4%** | **Financial Services 1.4%** |
| Corebridge Financial, Inc. | &nbsp;&nbsp; 197135 | &nbsp;&nbsp; 5093968 |
| Equitable Holdings, Inc. | &nbsp;&nbsp; 211286 | &nbsp;&nbsp; 8497923 |
| Essent Group Ltd. | &nbsp;&nbsp; 71280 | &nbsp;&nbsp; 4336675 |
| Euronet Worldwide, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 28833 | &nbsp;&nbsp; 2005335 |
| MGIC Investment Corp. | &nbsp;&nbsp; 164985 | &nbsp;&nbsp; 4377052 |
| Shift4 Payments, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 49822 | &nbsp;&nbsp; 2195656 |
| Voya Financial, Inc. | &nbsp;&nbsp; 70172 | &nbsp;&nbsp; 4693103 |
| WEX, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 25284 | &nbsp;&nbsp; 3772120 |
| Total |  | &nbsp;&nbsp; 34971832 |
| **Insurance 3.6%** | **Insurance 3.6%** | **Insurance 3.6%** |
| American Financial Group, Inc. | &nbsp;&nbsp; 51047 | &nbsp;&nbsp; 6788230 |
| Brighthouse Financial, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 42157 | &nbsp;&nbsp; 2528577 |
| CNO Financial Group, Inc. | &nbsp;&nbsp; 70313 | &nbsp;&nbsp; 2939787 |
| Fidelity National Financial, Inc. | &nbsp;&nbsp; 187928 | &nbsp;&nbsp; 9937633 |
| First American Financial Corp. | &nbsp;&nbsp; 75140 | &nbsp;&nbsp; 5268065 |
| Hanover Insurance Group, Inc. (The) | &nbsp;&nbsp; 26239 | &nbsp;&nbsp; 4739551 |
| Kemper Corp. | &nbsp;&nbsp; 43172 | &nbsp;&nbsp; 1395319 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp; 16296 | &nbsp;&nbsp; 6350062 |
| Old Republic International Corp. | &nbsp;&nbsp; 167870 | &nbsp;&nbsp; 7196587 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Primerica, Inc. | &nbsp;&nbsp; 23535 | &nbsp;&nbsp; 5969888 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp; 48457 | &nbsp;&nbsp; 10453629 |
| RenaissanceRe Holdings Ltd. | &nbsp;&nbsp; 34001 | &nbsp;&nbsp; 10283942 |
| RLI Corp. | &nbsp;&nbsp; 67720 | &nbsp;&nbsp; 4220310 |
| Ryan Specialty Holdings, Inc., Class A | &nbsp;&nbsp; 83563 | &nbsp;&nbsp; 3288204 |
| Selective Insurance Group, Inc. | &nbsp;&nbsp; 44545 | &nbsp;&nbsp; 3743562 |
| Unum Group | &nbsp;&nbsp; 113517 | &nbsp;&nbsp; 8142574 |
| Total |  | &nbsp;&nbsp; 93245920 |
| **Mortgage Real Estate Investment Trusts (REITS) 0.6%** | **Mortgage Real Estate Investment Trusts (REITS) 0.6%** | **Mortgage Real Estate Investment Trusts (REITS) 0.6%** |
| Annaly Capital Management, Inc. | &nbsp;&nbsp; 503661 | &nbsp;&nbsp; 11705082 |
| Starwood Property Trust, Inc. | &nbsp;&nbsp; 256694 | &nbsp;&nbsp; 4571720 |
| Total |  | &nbsp;&nbsp; 16276802 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **369655452** |
| **Health Care 8.5%** | **Health Care 8.5%** | **Health Care 8.5%** |
| **Biotechnology 2.7%** | **Biotechnology 2.7%** | **Biotechnology 2.7%** |
| Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 101950 | &nbsp;&nbsp; 6450377 |
| BioMarin Pharmaceutical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 141663 | &nbsp;&nbsp; 8744857 |
| Cytokinetics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 90157 | &nbsp;&nbsp; 5609569 |
| Exelixis, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 197703 | &nbsp;&nbsp; 8710794 |
| Halozyme Therapeutics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 86715 | &nbsp;&nbsp; 6029294 |
| Neurocrine Biosciences, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 73522 | &nbsp;&nbsp; 9723284 |
| Roivant Sciences Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 323095 | &nbsp;&nbsp; 9350369 |
| United Therapeutics Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 31750 | &nbsp;&nbsp; 15998825 |
| Total |  | &nbsp;&nbsp; 70617369 |
| **Health Care Equipment & Supplies 1.5%** | **Health Care Equipment & Supplies 1.5%** | **Health Care Equipment & Supplies 1.5%** |
| Dentsply Sirona, Inc. | &nbsp;&nbsp; 147148 | &nbsp;&nbsp; 2160133 |
| Envista Holdings Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 121246 | &nbsp;&nbsp; 3541596 |
| Globus Medical, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 82152 | &nbsp;&nbsp; 7842230 |
| Haemonetics Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 34517 | &nbsp;&nbsp; 2185616 |
| Lantheus Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 48898 | &nbsp;&nbsp; 3662949 |
| LivaNova PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 40266 | &nbsp;&nbsp; 2842780 |
| Masimo Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 33667 | &nbsp;&nbsp; 5903508 |
| Penumbra, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 28878 | &nbsp;&nbsp; 9945294 |
| Total |  | &nbsp;&nbsp; 38084106 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Health Care Providers & Services 1.9%** | **Health Care Providers & Services 1.9%** | **Health Care Providers & Services 1.9%** |
| Chemed Corp. | &nbsp;&nbsp; 10444 | &nbsp;&nbsp; 4282145 |
| Encompass Health Corp. | &nbsp;&nbsp; 74193 | &nbsp;&nbsp; 8003941 |
| Ensign Group, Inc. (The) | &nbsp;&nbsp; 42413 | &nbsp;&nbsp; 9083592 |
| HealthEquity, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 63531 | &nbsp;&nbsp; 4859486 |
| Hims & Hers Health, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 153604 | &nbsp;&nbsp; 2230330 |
| Option Care Health, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 117048 | &nbsp;&nbsp; 3799378 |
| Tenet Healthcare Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 64806 | &nbsp;&nbsp; 15513908 |
| Total |  | &nbsp;&nbsp; 47772780 |
| **Health Care Technology 0.1%** | **Health Care Technology 0.1%** | **Health Care Technology 0.1%** |
| Doximity, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 101298 | &nbsp;&nbsp; 2484840 |
| **Life Sciences Tools & Services 1.6%** | **Life Sciences Tools & Services 1.6%** | **Life Sciences Tools & Services 1.6%** |
| Avantor, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 502764 | &nbsp;&nbsp; 4550014 |
| Bio-Rad Laboratories, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 13407 | &nbsp;&nbsp; 3733045 |
| Bruker Corp. | &nbsp;&nbsp; 81789 | &nbsp;&nbsp; 3280557 |
| Illumina, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 112673 | &nbsp;&nbsp; 15150012 |
| Medpace Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 16409 | &nbsp;&nbsp; 7412930 |
| Repligen Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 39018 | &nbsp;&nbsp; 5022787 |
| Sotera Health Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 152926 | &nbsp;&nbsp; 2485047 |
| Total |  | &nbsp;&nbsp; 41634392 |
| **Pharmaceuticals 0.7%** | **Pharmaceuticals 0.7%** | **Pharmaceuticals 0.7%** |
| Elanco Animal Health, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 366382 | &nbsp;&nbsp; 9672485 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 44808 | &nbsp;&nbsp; 8514416 |
| Total |  | &nbsp;&nbsp; 18186901 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **218780388** |
| **Industrials 25.2%** | **Industrials 25.2%** | **Industrials 25.2%** |
| **Aerospace & Defense 4.2%** | **Aerospace & Defense 4.2%** | **Aerospace & Defense 4.2%** |
| Aerovironment, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 23460 | &nbsp;&nbsp; 5917785 |
| ATI, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 100185 | &nbsp;&nbsp; 16389264 |
| BWX Technologies, Inc. | &nbsp;&nbsp; 67417 | &nbsp;&nbsp; 13886554 |
| Carpenter Technology Corp. | &nbsp;&nbsp; 36736 | &nbsp;&nbsp; 14623500 |
| Curtiss-Wright Corp. | &nbsp;&nbsp; 27191 | &nbsp;&nbsp; 19042673 |
| Hexcel Corp. | &nbsp;&nbsp; 58701 | &nbsp;&nbsp; 5440996 |
| Kratos Defense & Security Solutions, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 124502 | &nbsp;&nbsp; 10729582 |
| StandardAero, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 142358 | &nbsp;&nbsp; 4384626 |
| Woodward, Inc. | &nbsp;&nbsp; 44218 | &nbsp;&nbsp; 17101754 |
| Total |  | &nbsp;&nbsp; 107516734 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Air Freight & Logistics 0.2%** | **Air Freight & Logistics 0.2%** | **Air Freight & Logistics 0.2%** |
| GXO Logistics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 84421 | &nbsp;&nbsp; 5304171 |
| **Building Products 2.0%** | **Building Products 2.0%** | **Building Products 2.0%** |
| AAON, Inc. | &nbsp;&nbsp; 49900 | &nbsp;&nbsp; 5049880 |
| Advanced Drainage Systems, Inc. | &nbsp;&nbsp; 52755 | &nbsp;&nbsp; 9039042 |
| Carlisle Companies, Inc. | &nbsp;&nbsp; 30739 | &nbsp;&nbsp; 12134835 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp; 88589 | &nbsp;&nbsp; 4813926 |
| Owens Corning | &nbsp;&nbsp; 60608 | &nbsp;&nbsp; 7398419 |
| Simpson Manufacturing Co., Inc. | &nbsp;&nbsp; 30571 | &nbsp;&nbsp; 5917628 |
| Trex Company, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 79089 | &nbsp;&nbsp; 3275866 |
| UFP Industries, Inc. | &nbsp;&nbsp; 42958 | &nbsp;&nbsp; 4420808 |
| Total |  | &nbsp;&nbsp; 52050404 |
| **Commercial Services & Supplies 1.6%** | **Commercial Services & Supplies 1.6%** | **Commercial Services & Supplies 1.6%** |
| Brink's Co. (The) | &nbsp;&nbsp; 30636 | &nbsp;&nbsp; 3577366 |
| Clean Harbors, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 37036 | &nbsp;&nbsp; 10858955 |
| MSA Safety, Inc. | &nbsp;&nbsp; 27138 | &nbsp;&nbsp; 5303037 |
| RB Global, Inc. | &nbsp;&nbsp; 136928 | &nbsp;&nbsp; 13824251 |
| Tetra Tech, Inc. | &nbsp;&nbsp; 192767 | &nbsp;&nbsp; 6908769 |
| Total |  | &nbsp;&nbsp; 40472378 |
| **Construction & Engineering 2.6%** | **Construction & Engineering 2.6%** | **Construction & Engineering 2.6%** |
| AECOM | &nbsp;&nbsp; 97664 | &nbsp;&nbsp; 9569119 |
| API Group Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 272950 | &nbsp;&nbsp; 12135357 |
| Dycom Industries, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 21350 | &nbsp;&nbsp; 8967427 |
| Fluor Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 118855 | &nbsp;&nbsp; 6217305 |
| MasTec, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 45229 | &nbsp;&nbsp; 13479146 |
| Sterling Infrastructure, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 22652 | &nbsp;&nbsp; 9698001 |
| Valmont Industries, Inc. | &nbsp;&nbsp; 14527 | &nbsp;&nbsp; 6681403 |
| Total |  | &nbsp;&nbsp; 66747758 |
| **Electrical Equipment 2.0%** | **Electrical Equipment 2.0%** | **Electrical Equipment 2.0%** |
| Acuity, Inc. | &nbsp;&nbsp; 22426 | &nbsp;&nbsp; 6763457 |
| EnerSys | &nbsp;&nbsp; 27216 | &nbsp;&nbsp; 4521938 |
| Nextpower, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 109419 | &nbsp;&nbsp; 11499937 |
| nVent Electric PLC | &nbsp;&nbsp; 118985 | &nbsp;&nbsp; 14083065 |
| Regal Rexnord Corp. | &nbsp;&nbsp; 48955 | &nbsp;&nbsp; 10818076 |
| Sensata Technologies Holding | &nbsp;&nbsp; 107422 | &nbsp;&nbsp; 4011138 |
| Total |  | &nbsp;&nbsp; 51697611 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Ground Transportation 1.8%** | **Ground Transportation 1.8%** | **Ground Transportation 1.8%** |
| Avis Budget Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12458 | &nbsp;&nbsp; 1213534 |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp; 119707 | &nbsp;&nbsp; 7531965 |
| Landstar System, Inc. | &nbsp;&nbsp; 25326 | &nbsp;&nbsp; 4126872 |
| Ryder System, Inc. | &nbsp;&nbsp; 29774 | &nbsp;&nbsp; 6596727 |
| Saia, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 19646 | &nbsp;&nbsp; 7964292 |
| XPO, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 86558 | &nbsp;&nbsp; 18217862 |
| Total |  | &nbsp;&nbsp; 45651252 |
| **Machinery 6.0%** | **Machinery 6.0%** | **Machinery 6.0%** |
| AGCO Corp. | &nbsp;&nbsp; 45673 | &nbsp;&nbsp; 6234364 |
| Chart Industries, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 32587 | &nbsp;&nbsp; 6755285 |
| CNH Industrial NV | &nbsp;&nbsp; 652552 | &nbsp;&nbsp; 8026390 |
| Crane Co. | &nbsp;&nbsp; 36101 | &nbsp;&nbsp; 7239333 |
| Donaldson Co., Inc. | &nbsp;&nbsp; 85413 | &nbsp;&nbsp; 7922910 |
| Esab Corp. | &nbsp;&nbsp; 42082 | &nbsp;&nbsp; 5309486 |
| Flowserve Corp. | &nbsp;&nbsp; 93734 | &nbsp;&nbsp; 8297334 |
| Graco, Inc. | &nbsp;&nbsp; 122255 | &nbsp;&nbsp; 11482190 |
| ITT, Inc. | &nbsp;&nbsp; 62678 | &nbsp;&nbsp; 12686654 |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp; 40576 | &nbsp;&nbsp; 11647341 |
| Middleby Corp. (The)<sup>(a)</sup> <br>| &nbsp;&nbsp; 34172 | &nbsp;&nbsp; 5770284 |
| Mueller Industries, Inc. | &nbsp;&nbsp; 81861 | &nbsp;&nbsp; 9656323 |
| Oshkosh Corp. | &nbsp;&nbsp; 46643 | &nbsp;&nbsp; 7930243 |
| RBC Bearings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 23212 | &nbsp;&nbsp; 13368255 |
| SPX Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 36749 | &nbsp;&nbsp; 8339818 |
| Terex Corp. | &nbsp;&nbsp; 83675 | &nbsp;&nbsp; 5756003 |
| Timken Co. (The) | &nbsp;&nbsp; 46741 | &nbsp;&nbsp; 5065790 |
| Toro Co. (The) | &nbsp;&nbsp; 72163 | &nbsp;&nbsp; 7134034 |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp; 20210 | &nbsp;&nbsp; 6643835 |
| Total |  | &nbsp;&nbsp; 155265872 |
| **Marine Transportation 0.2%** | **Marine Transportation 0.2%** | **Marine Transportation 0.2%** |
| Kirby Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 39967 | &nbsp;&nbsp; 5187717 |
| **Passenger Airlines 0.4%** | **Passenger Airlines 0.4%** | **Passenger Airlines 0.4%** |
| Alaska Air Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 85529 | &nbsp;&nbsp; 4413296 |
| American Airlines Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 486741 | &nbsp;&nbsp; 6361705 |
| Total |  | &nbsp;&nbsp; 10775001 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Professional Services 2.5%** | **Professional Services 2.5%** | **Professional Services 2.5%** |
| Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp; 89446 | &nbsp;&nbsp; 7051028 |
| CACI International, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 16282 | &nbsp;&nbsp; 9934788 |
| Concentrix Corp. | &nbsp;&nbsp; 32594 | &nbsp;&nbsp; 1069083 |
| ExlService Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 117025 | &nbsp;&nbsp; 3657031 |
| Exponent, Inc. | &nbsp;&nbsp; 36786 | &nbsp;&nbsp; 2677285 |
| FTI Consulting, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 22317 | &nbsp;&nbsp; 3669361 |
| Genpact Ltd. | &nbsp;&nbsp; 118237 | &nbsp;&nbsp; 4696374 |
| KBR, Inc. | &nbsp;&nbsp; 93641 | &nbsp;&nbsp; 3954460 |
| MAXIMUS, Inc. | &nbsp;&nbsp; 41552 | &nbsp;&nbsp; 3141747 |
| Parsons Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 39262 | &nbsp;&nbsp; 2591292 |
| Paylocity Holding Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 32482 | &nbsp;&nbsp; 3459008 |
| Science Applications International Corp. | &nbsp;&nbsp; 33936 | &nbsp;&nbsp; 3130935 |
| TransUnion | &nbsp;&nbsp; 143201 | &nbsp;&nbsp; 11248439 |
| UL Solutions, Inc., Class A | &nbsp;&nbsp; 55492 | &nbsp;&nbsp; 4659663 |
| Total |  | &nbsp;&nbsp; 64940494 |
| **Trading Companies & Distributors 1.7%** | **Trading Companies & Distributors 1.7%** | **Trading Companies & Distributors 1.7%** |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp; 27813 | &nbsp;&nbsp; 7859398 |
| Core & Main, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 140612 | &nbsp;&nbsp; 7615546 |
| GATX Corp. | &nbsp;&nbsp; 26325 | &nbsp;&nbsp; 4848275 |
| MSC Industrial Direct Co., Inc., Class A | &nbsp;&nbsp; 33734 | &nbsp;&nbsp; 3165599 |
| Watsco, Inc. | &nbsp;&nbsp; 25753 | &nbsp;&nbsp; 10747499 |
| WESCO International, Inc. | &nbsp;&nbsp; 35871 | &nbsp;&nbsp; 10384654 |
| Total |  | &nbsp;&nbsp; 44620971 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **650230363** |
| **Information Technology 13.9%** | **Information Technology 13.9%** | **Information Technology 13.9%** |
| **Communications Equipment 1.4%** | **Communications Equipment 1.4%** | **Communications Equipment 1.4%** |
| Lumentum Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 52281 | &nbsp;&nbsp; 36644276 |
| **Electronic Equipment, Instruments & Components 4.9%** | **Electronic Equipment, Instruments & Components 4.9%** | **Electronic Equipment, Instruments & Components 4.9%** |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp; 27833 | &nbsp;&nbsp; 9339920 |
| Arrow Electronics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 37984 | &nbsp;&nbsp; 5779645 |
| Avnet, Inc. | &nbsp;&nbsp; 59971 | &nbsp;&nbsp; 3948491 |
| Belden, Inc. | &nbsp;&nbsp; 28979 | &nbsp;&nbsp; 4152691 |
| Cognex Corp. | &nbsp;&nbsp; 123585 | &nbsp;&nbsp; 6723024 |
| Coherent Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 115884 | &nbsp;&nbsp; 30005844 |
| Crane NXT Co. | &nbsp;&nbsp; 36415 | &nbsp;&nbsp; 1758480 |
| Fabrinet<sup>(a)</sup> <br>| &nbsp;&nbsp; 26418 | &nbsp;&nbsp; 14414453 |
| Flex Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 272680 | &nbsp;&nbsp; 17184294 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| IPG Photonics Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 18637 | &nbsp;&nbsp; 2452070 |
| Littelfuse, Inc. | &nbsp;&nbsp; 18363 | &nbsp;&nbsp; 6472223 |
| Novanta, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 26380 | &nbsp;&nbsp; 3546263 |
| TD SYNNEX Corp. | &nbsp;&nbsp; 55848 | &nbsp;&nbsp; 8757525 |
| TTM Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 76195 | &nbsp;&nbsp; 7942567 |
| Vontier Corp. | &nbsp;&nbsp; 106995 | &nbsp;&nbsp; 4378235 |
| Total |  | &nbsp;&nbsp; 126855725 |
| **IT Services 1.0%** | **IT Services 1.0%** | **IT Services 1.0%** |
| ASGN, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 31487 | &nbsp;&nbsp; 1350792 |
| Kyndryl Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 168541 | &nbsp;&nbsp; 2078111 |
| Okta, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 124220 | &nbsp;&nbsp; 9005950 |
| Twilio, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 111798 | &nbsp;&nbsp; 13523086 |
| Total |  | &nbsp;&nbsp; 25957939 |
| **Semiconductors & Semiconductor Equipment 3.4%** | **Semiconductors & Semiconductor Equipment 3.4%** | **Semiconductors & Semiconductor Equipment 3.4%** |
| Allegro MicroSystems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 91458 | &nbsp;&nbsp; 3335473 |
| Amkor Technology, Inc. | &nbsp;&nbsp; 83848 | &nbsp;&nbsp; 4009611 |
| Cirrus Logic, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 37629 | &nbsp;&nbsp; 5310205 |
| Entegris, Inc. | &nbsp;&nbsp; 111788 | &nbsp;&nbsp; 14806321 |
| Lattice Semiconductor Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 100865 | &nbsp;&nbsp; 9644711 |
| MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 47226 | &nbsp;&nbsp; 11717715 |
| MKS, Inc. | &nbsp;&nbsp; 49530 | &nbsp;&nbsp; 12108104 |
| Onto Innovation, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 36140 | &nbsp;&nbsp; 7802265 |
| Rambus, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 79380 | &nbsp;&nbsp; 7911011 |
| Silicon Laboratories, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 24225 | &nbsp;&nbsp; 4954739 |
| Synaptics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 28751 | &nbsp;&nbsp; 2342056 |
| Universal Display Corp. | &nbsp;&nbsp; 32603 | &nbsp;&nbsp; 3478414 |
| Total |  | &nbsp;&nbsp; 87420625 |
| **Software 2.6%** | **Software 2.6%** | **Software 2.6%** |
| Appfolio, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 17014 | &nbsp;&nbsp; 3024409 |
| Bentley Systems, Inc., Class B | &nbsp;&nbsp; 109819 | &nbsp;&nbsp; 4013884 |
| BILL Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 65731 | &nbsp;&nbsp; 2925687 |
| Blackbaud, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 27044 | &nbsp;&nbsp; 1312716 |
| CommVault Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 32515 | &nbsp;&nbsp; 2766376 |
| DocuSign, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 148292 | &nbsp;&nbsp; 6683520 |
| Dolby Laboratories, Inc., Class A | &nbsp;&nbsp; 45117 | &nbsp;&nbsp; 3003439 |
| Dropbox, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 128618 | &nbsp;&nbsp; 3214164 |
| Dynatrace, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 222314 | &nbsp;&nbsp; 7985519 |
| Guidewire Software, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 62692 | &nbsp;&nbsp; 9110401 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Manhattan Associates, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 44434 | &nbsp;&nbsp; 6017697 |
| Nutanix, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 199675 | &nbsp;&nbsp; 7643559 |
| Pegasystems, Inc. | &nbsp;&nbsp; 67582 | &nbsp;&nbsp; 2955361 |
| Qualys, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 26441 | &nbsp;&nbsp; 2444999 |
| UiPath, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 311046 | &nbsp;&nbsp; 3337523 |
| Total |  | &nbsp;&nbsp; 66439254 |
| **Technology Hardware, Storage & Peripherals 0.6%** | **Technology Hardware, Storage & Peripherals 0.6%** | **Technology Hardware, Storage & Peripherals 0.6%** |
| Pure Storage, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 230217 | &nbsp;&nbsp; 14784536 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **358102355** |
| **Materials 5.7%** | **Materials 5.7%** | **Materials 5.7%** |
| **Chemicals 1.3%** | **Chemicals 1.3%** | **Chemicals 1.3%** |
| Ashland, Inc. | &nbsp;&nbsp; 33703 | &nbsp;&nbsp; 2101719 |
| Avient Corp. | &nbsp;&nbsp; 67518 | &nbsp;&nbsp; 2772964 |
| Axalta Coating Systems Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 157315 | &nbsp;&nbsp; 5255894 |
| Cabot Corp. | &nbsp;&nbsp; 39232 | &nbsp;&nbsp; 2987125 |
| NewMarket Corp. | &nbsp;&nbsp; 5751 | &nbsp;&nbsp; 3600184 |
| Olin Corp. | &nbsp;&nbsp; 84152 | &nbsp;&nbsp; 2134936 |
| RPM International, Inc. | &nbsp;&nbsp; 94548 | &nbsp;&nbsp; 10789818 |
| Scotts Miracle-Gro Co. (The), Class A | &nbsp;&nbsp; 32784 | &nbsp;&nbsp; 2298814 |
| Westlake Corp. | &nbsp;&nbsp; 24593 | &nbsp;&nbsp; 2591610 |
| Total |  | &nbsp;&nbsp; 34533064 |
| **Construction Materials 0.4%** | **Construction Materials 0.4%** | **Construction Materials 0.4%** |
| Eagle Materials, Inc. | &nbsp;&nbsp; 23644 | &nbsp;&nbsp; 5291527 |
| Knife River Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 41784 | &nbsp;&nbsp; 3717941 |
| Total |  | &nbsp;&nbsp; 9009468 |
| **Containers & Packaging 1.1%** | **Containers & Packaging 1.1%** | **Containers & Packaging 1.1%** |
| AptarGroup, Inc. | &nbsp;&nbsp; 48387 | &nbsp;&nbsp; 6953696 |
| Crown Holdings, Inc. | &nbsp;&nbsp; 84076 | &nbsp;&nbsp; 9635109 |
| Graphic Packaging Holding Co. | &nbsp;&nbsp; 217621 | &nbsp;&nbsp; 2661505 |
| Greif, Inc., Class A | &nbsp;&nbsp; 19298 | &nbsp;&nbsp; 1402386 |
| Silgan Holdings, Inc. | &nbsp;&nbsp; 64672 | &nbsp;&nbsp; 3107489 |
| Sonoco Products Co. | &nbsp;&nbsp; 72732 | &nbsp;&nbsp; 4107176 |
| Total |  | &nbsp;&nbsp; 27867361 |
| **Metals & Mining 2.7%** | **Metals & Mining 2.7%** | **Metals & Mining 2.7%** |
| Alcoa Corp. | &nbsp;&nbsp; 190958 | &nbsp;&nbsp; 11854673 |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 420097 | &nbsp;&nbsp; 4478234 |
| Commercial Metals Co. | &nbsp;&nbsp; 81827 | &nbsp;&nbsp; 5997919 |
| Hecla Mining Co. | &nbsp;&nbsp; 494125 | &nbsp;&nbsp; 12308654 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| MP Materials Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 99323 | &nbsp;&nbsp; 5847145 |
| Reliance, Inc. | &nbsp;&nbsp; 38556 | &nbsp;&nbsp; 12169816 |
| Royal Gold, Inc. | &nbsp;&nbsp; 59745 | &nbsp;&nbsp; 17910953 |
| Total |  | &nbsp;&nbsp; 70567394 |
| **Paper & Forest Products 0.2%** | **Paper & Forest Products 0.2%** | **Paper & Forest Products 0.2%** |
| Louisiana-Pacific Corp. | &nbsp;&nbsp; 46732 | &nbsp;&nbsp; 3960070 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **145937357** |
| **Real Estate 6.5%** | **Real Estate 6.5%** | **Real Estate 6.5%** |
| **Diversified REITs 0.5%** | **Diversified REITs 0.5%** | **Diversified REITs 0.5%** |
| WP Carey, Inc. | &nbsp;&nbsp; 161595 | &nbsp;&nbsp; 12063067 |
| **Health Care REITs 1.0%** | **Health Care REITs 1.0%** | **Health Care REITs 1.0%** |
| American Healthcare REIT, Inc. | &nbsp;&nbsp; 130450 | &nbsp;&nbsp; 6814708 |
| Healthcare Realty Trust, Inc. | &nbsp;&nbsp; 259288 | &nbsp;&nbsp; 4783864 |
| Omega Healthcare Investors, Inc. | &nbsp;&nbsp; 217920 | &nbsp;&nbsp; 10518998 |
| Sabra Health Care REIT, Inc. | &nbsp;&nbsp; 183868 | &nbsp;&nbsp; 3778487 |
| Total |  | &nbsp;&nbsp; 25896057 |
| **Hotel & Resort REITs 0.1%** | **Hotel & Resort REITs 0.1%** | **Hotel & Resort REITs 0.1%** |
| Park Hotels & Resorts, Inc. | &nbsp;&nbsp; 147403 | &nbsp;&nbsp; 1667128 |
| **Industrial REITs 1.0%** | **Industrial REITs 1.0%** | **Industrial REITs 1.0%** |
| EastGroup Properties, Inc. | &nbsp;&nbsp; 39273 | &nbsp;&nbsp; 7709683 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp; 97647 | &nbsp;&nbsp; 6165431 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp; 171294 | &nbsp;&nbsp; 6418386 |
| STAG Industrial, Inc. | &nbsp;&nbsp; 137708 | &nbsp;&nbsp; 5400908 |
| Total |  | &nbsp;&nbsp; 25694408 |
| **Office REITs 0.4%** | **Office REITs 0.4%** | **Office REITs 0.4%** |
| COPT Defense Properties | &nbsp;&nbsp; 83303 | &nbsp;&nbsp; 2647369 |
| Cousins Properties, Inc. | &nbsp;&nbsp; 123856 | &nbsp;&nbsp; 2868505 |
| Kilroy Realty Corp. | &nbsp;&nbsp; 80259 | &nbsp;&nbsp; 2393324 |
| Vornado Realty Trust | &nbsp;&nbsp; 118960 | &nbsp;&nbsp; 3280917 |
| Total |  | &nbsp;&nbsp; 11190115 |
| **Real Estate Management & Development 0.4%** | **Real Estate Management & Development 0.4%** | **Real Estate Management & Development 0.4%** |
| Jones Lang LaSalle, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 34801 | &nbsp;&nbsp; 10981456 |
| **Residential REITs 0.8%** | **Residential REITs 0.8%** | **Residential REITs 0.8%** |
| American Homes 4 Rent, Class A | &nbsp;&nbsp; 240400 | &nbsp;&nbsp; 7212000 |
| Equity LifeStyle Properties, Inc. | &nbsp;&nbsp; 142927 | &nbsp;&nbsp; 9598977 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp; 176037 | &nbsp;&nbsp; 2916933 |
| Total |  | &nbsp;&nbsp; 19727910 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Retail REITs 0.9%** | **Retail REITs 0.9%** | **Retail REITs 0.9%** |
| Agree Realty Corp. | &nbsp;&nbsp; 84608 | &nbsp;&nbsp; 6809252 |
| Brixmor Property Group, Inc. | &nbsp;&nbsp; 225715 | &nbsp;&nbsp; 6832393 |
| Kite Realty Group Trust | &nbsp;&nbsp; 159650 | &nbsp;&nbsp; 4158882 |
| NNN REIT, Inc. | &nbsp;&nbsp; 140046 | &nbsp;&nbsp; 6346885 |
| Total |  | &nbsp;&nbsp; 24147412 |
| **Specialized REITs 1.4%** | **Specialized REITs 1.4%** | **Specialized REITs 1.4%** |
| CubeSmart | &nbsp;&nbsp; 168152 | &nbsp;&nbsp; 6917773 |
| EPR Properties | &nbsp;&nbsp; 56145 | &nbsp;&nbsp; 3335574 |
| Gaming and Leisure Properties, Inc. | &nbsp;&nbsp; 208687 | &nbsp;&nbsp; 10206881 |
| Lamar Advertising Co., Class A | &nbsp;&nbsp; 64052 | &nbsp;&nbsp; 8822523 |
| National Storage Affiliates Trust | &nbsp;&nbsp; 52193 | &nbsp;&nbsp; 1827799 |
| Rayonier, Inc. | &nbsp;&nbsp; 204845 | &nbsp;&nbsp; 4402119 |
| Total |  | &nbsp;&nbsp; 35512669 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **166880222** |
| **Utilities 3.2%** | **Utilities 3.2%** | **Utilities 3.2%** |
| **Electric Utilities 0.8%** | **Electric Utilities 0.8%** | **Electric Utilities 0.8%** |
| IDACORP, Inc. | &nbsp;&nbsp; 39852 | &nbsp;&nbsp; 5737492 |
| OGE Energy Corp. | &nbsp;&nbsp; 148556 | &nbsp;&nbsp; 7300042 |
| Portland General Electric Co. | &nbsp;&nbsp; 82948 | &nbsp;&nbsp; 4475874 |
| TXNM Energy, Inc. | &nbsp;&nbsp; 72286 | &nbsp;&nbsp; 4266320 |
| Total |  | &nbsp;&nbsp; 21779728 |
| **Gas Utilities 1.1%** | **Gas Utilities 1.1%** | **Gas Utilities 1.1%** |
| National Fuel Gas Co. | &nbsp;&nbsp; 66634 | &nbsp;&nbsp; 6065693 |
| New Jersey Resources Corp. | &nbsp;&nbsp; 74072 | &nbsp;&nbsp; 4017665 |
| ONE Gas, Inc. | &nbsp;&nbsp; 44243 | &nbsp;&nbsp; 3868608 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp; 47372 | &nbsp;&nbsp; 4176789 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Spire, Inc. | &nbsp;&nbsp; 43524 | &nbsp;&nbsp; 3987234 |
| UGI Corp. | &nbsp;&nbsp; 158483 | &nbsp;&nbsp; 5928849 |
| Total |  | &nbsp;&nbsp; 28044838 |
| **Independent Power and Renewable Electricity Producers 0.7%** | **Independent Power and Renewable Electricity Producers 0.7%** | **Independent Power and Renewable Electricity Producers 0.7%** |
| Ormat Technologies, Inc. | &nbsp;&nbsp; 44820 | &nbsp;&nbsp; 4647834 |
| Talen Energy Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 33690 | &nbsp;&nbsp; 12497979 |
| Total |  | &nbsp;&nbsp; 17145813 |
| **Multi-Utilities 0.3%** | **Multi-Utilities 0.3%** | **Multi-Utilities 0.3%** |
| Black Hills Corp. | &nbsp;&nbsp; 55653 | &nbsp;&nbsp; 4099400 |
| Northwestern Energy Group, Inc. | &nbsp;&nbsp; 45281 | &nbsp;&nbsp; 3167859 |
| Total |  | &nbsp;&nbsp; 7267259 |
| **Water Utilities 0.3%** | **Water Utilities 0.3%** | **Water Utilities 0.3%** |
| Essential Utilities, Inc. | &nbsp;&nbsp; 208664 | &nbsp;&nbsp; 8340300 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **82577938** |
| Total Common Stocks <br>(Cost $1,503,920,073) | Total Common Stocks <br>(Cost $1,503,920,073) | &nbsp;&nbsp; **2544746569** |
| **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 31772864 | &nbsp;&nbsp; 31766510 |
| Total Money Market Funds <br>(Cost $31,761,664) | Total Money Market Funds <br>(Cost $31,761,664) | &nbsp;&nbsp; **31766510** |
| **Total Investments in Securities** <br>**(Cost: $1,535,681,737)** | **Total Investments in Securities** <br>**(Cost: $1,535,681,737)** | &nbsp;&nbsp; **2576513079** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **2426387** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **2578939466** |

---

At February 28, 2026, securities and/or cash totaling $2,689,626 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 Mid 400 Index E-mini | 99 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 35421210 | &nbsp;&nbsp;&nbsp;&nbsp; 1290029 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) The rate shown is the seven-day current annualized yield at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 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, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 29582068 | &nbsp;&nbsp; 441427991 | &nbsp;&nbsp; (439245903)<br>| &nbsp;&nbsp; 2354 | &nbsp;&nbsp; 31766510 | &nbsp;&nbsp; (6533)<br>| &nbsp;&nbsp; 1212903 | &nbsp;&nbsp; 31772864 |

---

**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 Mid Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

The following table is a summary of the inputs used to value the Fund's investments at February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 38109016 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38109016 |
| Consumer Discretionary | 283638394 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 283638394 |
| Consumer Staples | 114404854 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 114404854 |
| Energy | 116430230 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 116430230 |
| Financials | 369655452 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 369655452 |
| Health Care | 218780388 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 218780388 |
| Industrials | 650230363 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 650230363 |
| Information Technology | 358102355 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 358102355 |
| Materials | 145937357 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 145937357 |
| Real Estate | 166880222 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 166880222 |
| Utilities | 82577938 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 82577938 |
| Total Common Stocks | 2544746569 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2544746569 |
| Money Market Funds | 31766510 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 31766510 |
| Total Investments in Securities | 2576513079 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2576513079 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Futures Contracts | 1290029 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1290029 |
| Total | 2577803108 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2577803108 |

---

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 Mid Cap Index Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $1,503,920,073) | $2544746569 |
| Affiliated issuers (cost $31,761,664) | 31766510 |
| Margin deposits on: |  |
| Futures contracts | 2689626 |
| Receivable for: |  |
| Capital shares sold | 2130901 |
| Dividends | 1533724 |
| Foreign tax reclaims | 7943 |
| Expense reimbursement due from Investment Manager | 7700 |
| Prepaid expenses | 7495 |
| Total assets | 2582890468 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 2898299 |
| Variation margin for futures contracts | 357160 |
| Management services fees | 14261 |
| Distribution and/or service fees | 3545 |
| Transfer agent fees | 222076 |
| Compensation of chief compliance officer | 399 |
| Compensation of board members | 4036 |
| Other expenses | 65449 |
| Deferred compensation of board members | 385777 |
| Total liabilities | 3951002 |
| **Net assets applicable to outstanding capital stock** | **$2578939466** |
| **Represented by** |  |
| Paid in capital | 1437442537 |
| Total distributable earnings (loss) | 1141496929 |
| **Total - representing net assets applicable to outstanding capital stock** | **$2578939466** |
| **Class A** |  |
| Net assets | $512030090 |
| Shares outstanding | 33014738 |
| Net asset value per share | $15.51 |
| **Institutional Class** |  |
| Net assets | $1182301210 |
| Shares outstanding | 76929475 |
| Net asset value per share | $15.37 |
| **Institutional 2 Class** |  |
| Net assets | $530306956 |
| Shares outstanding | 33024758 |
| Net asset value per share | $16.06 |
| **Institutional 3 Class** |  |
| Net assets | $354301210 |
| Shares outstanding | 23953849 |
| Net asset value per share | $14.79 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $35908859 |
| Dividends — affiliated issuers | 1212903 |
| Foreign taxes withheld | (45508)<br>|
| Total income | 37076254 |
| Expenses: |  |
| Management services fees | 4949801 |
| Distribution and/or service fees |  |
| Class A | 1299137 |
| Transfer agent fees |  |
| Class A | 612302 |
| Institutional Class | 1291054 |
| Institutional 2 Class | 303032 |
| Institutional 3 Class | 17834 |
| Custodian fees | 39450 |
| Printing and postage fees | 68779 |
| Registration fees | 87337 |
| Licensing fees and expenses | 24975 |
| Accounting services fees | 33323 |
| Legal fees | 53262 |
| Interest on collateral | 146 |
| Compensation of chief compliance officer | 362 |
| Compensation of board members | 36379 |
| Deferred compensation of board members | 64296 |
| Other | 42963 |
| Total expenses | 8924432 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (2675288)<br>|
| Expense reduction | (60)<br>|
| Total net expenses | 6249084 |
| **Net investment income** | 30827170 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 242208905 |
| Investments — affiliated issuers | (6533)<br>|
| Futures contracts | 540953 |
| Net realized gain | 242743325 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 121748221 |
| Investments — affiliated issuers | 2354 |
| Futures contracts | 2572301 |
| Net change in unrealized appreciation (depreciation) | 124322876 |
| Net realized and unrealized gain | 367066201 |
| **Net increase in net assets resulting from operations** | **$397893371** |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $30827170 | &nbsp;&nbsp; $32305335 |
| Net realized gain | 242743325 | &nbsp;&nbsp; 252249997 |
| Net change in unrealized appreciation (depreciation) | 124322876 | &nbsp;&nbsp; (68293912)<br>|
| Net increase in net assets resulting from operations | 397893371 | &nbsp;&nbsp; 216261420 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (44837374)<br>| &nbsp;&nbsp; (61646633)<br>|
| Institutional Class | (98464709)<br>| &nbsp;&nbsp; (115547104)<br>|
| Institutional 2 Class | (44735870)<br>| &nbsp;&nbsp; (58083384)<br>|
| Institutional 3 Class | (31486537)<br>| &nbsp;&nbsp; (38538821)<br>|
| Total distributions to shareholders | (219524490)<br>| &nbsp;&nbsp; (273815942)<br>|
| Decrease in net assets from capital stock activity | (106384058)<br>| &nbsp;&nbsp; (63477585)<br>|
| Total increase (decrease) in net assets | 71984823 | &nbsp;&nbsp; (121032107)<br>|
| Net assets at beginning of year | 2506954643 | &nbsp;&nbsp; 2627986750 |
| **Net assets at end of year** | **$2578939466** | &nbsp;&nbsp; **$2506954643** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 6850916 | &nbsp;&nbsp;&nbsp;&nbsp; 98337554 | &nbsp;&nbsp;&nbsp;&nbsp; 7105564 | &nbsp;&nbsp;&nbsp;&nbsp; 108093751 |
| Distributions reinvested | 2176418 | &nbsp;&nbsp;&nbsp;&nbsp; 30857840 | &nbsp;&nbsp;&nbsp;&nbsp; 2872907 | &nbsp;&nbsp;&nbsp;&nbsp; 43806872 |
| Shares redeemed | (14411279)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (209783207)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13151207)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (200825884)<br>|
| Net decrease | (5383945)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (80587813)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3172736)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (48925261)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 12554864 | &nbsp;&nbsp;&nbsp;&nbsp; 178297408 | &nbsp;&nbsp;&nbsp;&nbsp; 10490250 | &nbsp;&nbsp;&nbsp;&nbsp; 157384602 |
| Distributions reinvested | 6714460 | &nbsp;&nbsp;&nbsp;&nbsp; 94364940 | &nbsp;&nbsp;&nbsp;&nbsp; 7326362 | &nbsp;&nbsp;&nbsp;&nbsp; 110897091 |
| Shares redeemed | (17169411)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (249188638)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14456623)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (218995008)<br>|
| Net increase | 2099913 | &nbsp;&nbsp;&nbsp;&nbsp; 23473710 | &nbsp;&nbsp;&nbsp;&nbsp; 3359989 | &nbsp;&nbsp;&nbsp;&nbsp; 49286685 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 9359348 | &nbsp;&nbsp;&nbsp;&nbsp; 137745014 | &nbsp;&nbsp;&nbsp;&nbsp; 9709297 | &nbsp;&nbsp;&nbsp;&nbsp; 152194432 |
| Distributions reinvested | 2074377 | &nbsp;&nbsp;&nbsp;&nbsp; 30405472 | &nbsp;&nbsp;&nbsp;&nbsp; 2583759 | &nbsp;&nbsp;&nbsp;&nbsp; 40584589 |
| Shares redeemed | (14888693)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (225288414)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13910525)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (218338340)<br>|
| Net decrease | (3454968)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (57137928)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1617469)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25559319)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 5040911 | &nbsp;&nbsp;&nbsp;&nbsp; 70790190 | &nbsp;&nbsp;&nbsp;&nbsp; 3508049 | &nbsp;&nbsp;&nbsp;&nbsp; 51272997 |
| Distributions reinvested | 795366 | &nbsp;&nbsp;&nbsp;&nbsp; 10788959 | &nbsp;&nbsp;&nbsp;&nbsp; 694761 | &nbsp;&nbsp;&nbsp;&nbsp; 10119134 |
| Shares redeemed | (5311843)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (73711176)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6912872)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (99671821)<br>|
| Net increase (decrease) | 524434 | &nbsp;&nbsp;&nbsp;&nbsp; 7867973 | &nbsp;&nbsp;&nbsp;&nbsp; (2710062)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (38279690)<br>|
| **Total net decrease** | **(6214566)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(106384058)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(4140278)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(63477585)**<br>|

---

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

Columbia Mid Cap Index 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** |
| Year Ended 2/28/2026 | $14.52 | 0.15 | 2.13 | 2.28 | &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (1.13)<br>| &nbsp;&nbsp; (1.29)<br>|
| Year Ended 2/28/2025 | $14.86 | 0.16 | 1.11 | 1.27 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (1.43)<br>| &nbsp;&nbsp; (1.61)<br>|
| Year Ended 2/29/2024 | $14.29 | 0.17 | 1.49 | 1.66 | &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.09)<br>|
| Year Ended 2/28/2023 | $16.13 | 0.16 | &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.34)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (1.34)<br>| &nbsp;&nbsp; (1.50)<br>|
| Year Ended 2/28/2022 | $17.72 | 0.14 <br><sup>(f)</sup><br>| 1.30 | 1.44 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (2.90)<br>| &nbsp;&nbsp; (3.03)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $14.40 | 0.19 | 2.11 | 2.30 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (1.13)<br>| &nbsp;&nbsp; (1.33)<br>|
| Year Ended 2/28/2025 | $14.75 | 0.19 | 1.11 | 1.30 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (1.43)<br>| &nbsp;&nbsp; (1.65)<br>|
| Year Ended 2/29/2024 | $14.19 | 0.20 | 1.49 | 1.69 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.13)<br>|
| Year Ended 2/28/2023 | $16.03 | 0.19 | &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (1.34)<br>| &nbsp;&nbsp; (1.54)<br>|
| Year Ended 2/28/2022 | $17.63 | 0.19 <br><sup>(f)</sup><br>| 1.29 | 1.48 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (2.90)<br>| &nbsp;&nbsp; (3.08)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | $14.98 | 0.19 | 2.22 | 2.41 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (1.13)<br>| &nbsp;&nbsp; (1.33)<br>|
| Year Ended 2/28/2025 | $15.29 | 0.20 | 1.14 | 1.34 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (1.43)<br>| &nbsp;&nbsp; (1.65)<br>|
| Year Ended 2/29/2024 | $14.67 | 0.21 | 1.54 | 1.75 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.13)<br>|
| Year Ended 2/28/2023 | $16.52 | 0.20 | &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (1.34)<br>| &nbsp;&nbsp; (1.54)<br>|
| Year Ended 2/28/2022 | $18.08 | 0.19 <br><sup>(f)</sup><br>| 1.33 | 1.52 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (2.90)<br>| &nbsp;&nbsp; (3.08)<br>|

---

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

Columbia Mid Cap Index Fund \| 2026

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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; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.51 | &nbsp;&nbsp;&nbsp;&nbsp; 16.71%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.59% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.05% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $512030 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.52 | &nbsp;&nbsp;&nbsp;&nbsp; 8.23%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.58% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.04% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $557409 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.86 | &nbsp;&nbsp;&nbsp;&nbsp; 12.58%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.59% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.19% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $617822 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.29 | &nbsp;&nbsp;&nbsp;&nbsp; (1.05%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.58% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.10% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $653592 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $16.13 | &nbsp;&nbsp;&nbsp;&nbsp; 7.48%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.58% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $768487 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.37 | &nbsp;&nbsp;&nbsp;&nbsp; 17.00%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.34% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.30% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $1182301 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.40 | &nbsp;&nbsp;&nbsp;&nbsp; 8.48%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.33% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.28% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $1077209 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.75 | &nbsp;&nbsp;&nbsp;&nbsp; 12.88%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.34% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.45% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $1054017 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.19 | &nbsp;&nbsp;&nbsp;&nbsp; (0.80%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.33% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $1017847 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $16.03 | &nbsp;&nbsp;&nbsp;&nbsp; 7.72%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.33% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.03% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $1534550 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $16.06 | &nbsp;&nbsp;&nbsp;&nbsp; 17.07%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.27% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.30% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $530307 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.98 | &nbsp;&nbsp;&nbsp;&nbsp; 8.44%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.28% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.29% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $546625 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $15.29 | &nbsp;&nbsp;&nbsp;&nbsp; 12.86%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.28% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.44% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $582545 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.67 | &nbsp;&nbsp;&nbsp;&nbsp; (0.84%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.28% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $560860 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $16.52 | &nbsp;&nbsp;&nbsp;&nbsp; 7.75%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.27% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.03% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $634732 |

---

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

Columbia Mid Cap Index 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** |
| Year Ended 2/28/2026 | $13.90 | 0.18 | 2.04 | 2.22 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (1.13)<br>| &nbsp;&nbsp; (1.33)<br>|
| Year Ended 2/28/2025 | $14.29 | 0.19 | 1.07 | 1.26 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (1.43)<br>| &nbsp;&nbsp; (1.65)<br>|
| Year Ended 2/29/2024 | $13.79 | 0.19 | 1.44 | 1.63 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.13)<br>|
| Year Ended 2/28/2023 | $15.63 | 0.18 | &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (1.34)<br>| &nbsp;&nbsp; (1.54)<br>|
| Year Ended 2/28/2022 | $17.25 | 0.18 <br><sup>(f)</sup><br>| 1.28 | 1.46 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (2.90)<br>| &nbsp;&nbsp; (3.08)<br>|

---

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

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (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%. |
| (e) | Ratios include interfund lending expense which is less than 0.01%. |
| (f) | Net investment income per share includes special dividends. The per share effect of these dividends amounted to: |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Year Ended**  | **Class A** | **Institutional** <br>**Class**<br>| **Institutional 2** <br>**Class** <br>| **Institutional 3** <br>**Class**<br>|
| 02/28/2022 | $0.01 | &nbsp;&nbsp; $0.01 | &nbsp;&nbsp; $0.01 | &nbsp;&nbsp; $0.01 |

---

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

Columbia Mid Cap Index 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; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $14.79 | &nbsp;&nbsp;&nbsp;&nbsp; 17.04%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.22% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.30% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $354301 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.90 | &nbsp;&nbsp;&nbsp;&nbsp; 8.47%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.22% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.29% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $325712 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.29 | &nbsp;&nbsp;&nbsp;&nbsp; 12.81%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.22% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.44% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $373603 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $13.79 | &nbsp;&nbsp;&nbsp;&nbsp; (0.82%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.23% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.36% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $350859 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $15.63 | &nbsp;&nbsp;&nbsp;&nbsp; 7.78%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.22% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.04% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $69950 |

---

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

Columbia Mid Cap Index Fund \| 2026

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Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Mid Cap Index Fund (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory 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**

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 Mid Cap Index Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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 Mid Cap Index Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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 Mid Cap Index Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 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; 1,290,029<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 year ended February 28, 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>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 540953 |
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 2572301 |

---

The following table is a summary of the average daily outstanding volume by derivative instrument for the year ended February 28, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 34397848 |

---

Columbia Mid Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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 Mid Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**Distributions to shareholders**

Distributions from net investment income, if any, are declared and paid semi-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 0.20% of the Fund's daily net assets.

**Compensation of Board members**

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

**Compensation of Chief Compliance Officer**

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

**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.

Columbia Mid Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 year ended February 28, 2026, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.12 |
| 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 year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $60.

**Distribution and service fees**

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

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

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

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, 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>**June 30, 2026 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| 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;0.20 |

---

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

Columbia Mid Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, derivative investments, trustees' deferred compensation and earnings and profits distributed to shareholders on the redemption of shares. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Undistributed net** <br>**investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<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; (16544000)<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; 16544000 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 47918622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171605868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219524490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68039663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205776279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273815942 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 5420521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101974113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1034488072 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 1543315036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1172992142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (138504070)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1034488072 |

---

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.

Columbia Mid Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $403,891,517 and $682,301,079, respectively, for the year ended February 28, 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 did not borrow or lend money under the Interfund Program during the year ended February 28, 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 year ended February 28, 2026.

Columbia Mid Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 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 February 28, 2026, one unaffiliated shareholder of record owned 22.8% 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 22.7% 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 Mid Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 Mid Cap Index Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Mid Cap Index Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Mid Cap Index Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Mid Cap Index Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | | | |
|:---|:---|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dividends** <br>**received** <br>**deduction**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Section** <br>**199A** <br>**dividends**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital** <br>**gain** <br>**dividend**<br>|
| 63.77% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60.89% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15.26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $252647715 |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.

Section 199A dividends. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents Section 199A dividends potentially eligible for a 20% deduction.

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Columbia Mid Cap Index Fund \| 2026

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**Columbia Mid Cap Index Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382img943c2cdb2.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/

ANN196_02_T01_(04/26)

------

![](g250382img9c006cd31.jpg)

Columbia Select Mid Cap Value Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_1d9d94f3-01f6-4bf0-b4de-05250eafa10a_POI-CommonContent-Date-104_1) | 3 |
| [Statement of Assets and Liabilities](#xx_1d9d94f3-01f6-4bf0-b4de-05250eafa10a_FS-CommonContent-Date-104_1) | 7 |
| [Statement of Operations](#xx_1d9d94f3-01f6-4bf0-b4de-05250eafa10a_FS-CommonContent-Date-104_3) | 9 |
| [Statement of Changes in Net Assets](#xx_1d9d94f3-01f6-4bf0-b4de-05250eafa10a_FS-CommonContent-Date-104_4) | 10 |
| [Financial Highlights](#xx_1d9d94f3-01f6-4bf0-b4de-05250eafa10a_FIHI-CommonContent-Date-104_1) | 12 |
| [Notes to Financial Statements](#xx_1d9d94f3-01f6-4bf0-b4de-05250eafa10a_NTF-CommonContent-Date-104_1) | 16 |
| [Report of Independent Registered Public Accounting Firm](#xx_1d9d94f3-01f6-4bf0-b4de-05250eafa10a_AUD-CommonContent-Date-104_1) | 24 |
| [Federal Income Tax Information](#xx_1d9d94f3-01f6-4bf0-b4de-05250eafa10a_CCH-CommonContent-Date-104_1) | 25 |

---

Columbia Select Mid Cap Value Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(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 98.5%** | **Common Stocks 98.5%** | **Common Stocks 98.5%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 4.3%** | **Communication Services 4.3%** | **Communication Services 4.3%** |
| **Entertainment 2.0%** | **Entertainment 2.0%** | **Entertainment 2.0%** |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 273216 | &nbsp;&nbsp; 57779720 |
| **Media 2.3%** | **Media 2.3%** | **Media 2.3%** |
| Nexstar Media Group, Inc., Class A | &nbsp;&nbsp; 265553 | &nbsp;&nbsp; 66659114 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **124438834** |
| **Consumer Discretionary 9.5%** | **Consumer Discretionary 9.5%** | **Consumer Discretionary 9.5%** |
| **Hotels, Restaurants & Leisure 1.7%** | **Hotels, Restaurants & Leisure 1.7%** | **Hotels, Restaurants & Leisure 1.7%** |
| Hyatt Hotels Corp., Class A | &nbsp;&nbsp; 305653 | &nbsp;&nbsp; 49362960 |
| **Household Durables 2.1%** | **Household Durables 2.1%** | **Household Durables 2.1%** |
| D.R. Horton, Inc. | &nbsp;&nbsp; 380519 | &nbsp;&nbsp; 61031442 |
| **Leisure Products 2.2%** | **Leisure Products 2.2%** | **Leisure Products 2.2%** |
| Hasbro, Inc. | &nbsp;&nbsp; 643183 | &nbsp;&nbsp; 64054595 |
| **Specialty Retail 3.5%** | **Specialty Retail 3.5%** | **Specialty Retail 3.5%** |
| Burlington Stores, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 161401 | &nbsp;&nbsp; 49529125 |
| O'Reilly Automotive, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 542170 | &nbsp;&nbsp; 50898919 |
| Total |  | &nbsp;&nbsp; 100428044 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **274877041** |
| **Consumer Staples 5.6%** | **Consumer Staples 5.6%** | **Consumer Staples 5.6%** |
| **Consumer Staples Distribution & Retail 3.8%** | **Consumer Staples Distribution & Retail 3.8%** | **Consumer Staples Distribution & Retail 3.8%** |
| Dollar Tree, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 349491 | &nbsp;&nbsp; 44203622 |
| U.S. Foods Holding Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 682010 | &nbsp;&nbsp; 65888986 |
| Total |  | &nbsp;&nbsp; 110092608 |
| **Food Products 1.8%** | **Food Products 1.8%** | **Food Products 1.8%** |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp; 810090 | &nbsp;&nbsp; 52647749 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **162740357** |
| **Energy 5.5%** | **Energy 5.5%** | **Energy 5.5%** |
| **Oil, Gas & Consumable Fuels 5.5%** | **Oil, Gas & Consumable Fuels 5.5%** | **Oil, Gas & Consumable Fuels 5.5%** |
| Devon Energy Corp. | &nbsp;&nbsp; 1742578 | &nbsp;&nbsp; 75854421 |
| Marathon Petroleum Corp. | &nbsp;&nbsp; 424744 | &nbsp;&nbsp; 84188508 |
| Total |  | &nbsp;&nbsp; 160042929 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **160042929** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Financials 15.7%** | **Financials 15.7%** | **Financials 15.7%** |
| **Banks 4.7%** | **Banks 4.7%** | **Banks 4.7%** |
| Popular, Inc. | &nbsp;&nbsp; 510826 | &nbsp;&nbsp; 69145408 |
| Regions Financial Corp. | &nbsp;&nbsp; 2457376 | &nbsp;&nbsp; 68388774 |
| Total |  | &nbsp;&nbsp; 137534182 |
| **Capital Markets 1.9%** | **Capital Markets 1.9%** | **Capital Markets 1.9%** |
| Carlyle Group, Inc. (The) | &nbsp;&nbsp; 1071769 | &nbsp;&nbsp; 55721270 |
| **Consumer Finance 2.0%** | **Consumer Finance 2.0%** | **Consumer Finance 2.0%** |
| Capital One Financial Corp. | &nbsp;&nbsp; 289222 | &nbsp;&nbsp; 56583392 |
| **Financial Services 3.1%** | **Financial Services 3.1%** | **Financial Services 3.1%** |
| Global Payments, Inc. | &nbsp;&nbsp; 477268 | &nbsp;&nbsp; 36491911 |
| Voya Financial, Inc. | &nbsp;&nbsp; 810599 | &nbsp;&nbsp; 54212861 |
| Total |  | &nbsp;&nbsp; 90704772 |
| **Insurance 4.0%** | **Insurance 4.0%** | **Insurance 4.0%** |
| Hanover Insurance Group, Inc. (The) | &nbsp;&nbsp; 291697 | &nbsp;&nbsp; 52689229 |
| Kemper Corp. | &nbsp;&nbsp; 619937 | &nbsp;&nbsp; 20036364 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp; 201121 | &nbsp;&nbsp; 43387833 |
| Total |  | &nbsp;&nbsp; 116113426 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **456657042** |
| **Health Care 7.6%** | **Health Care 7.6%** | **Health Care 7.6%** |
| **Health Care Equipment & Supplies 1.7%** | **Health Care Equipment & Supplies 1.7%** | **Health Care Equipment & Supplies 1.7%** |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp; 502850 | &nbsp;&nbsp; 49500554 |
| **Health Care Providers & Services 4.1%** | **Health Care Providers & Services 4.1%** | **Health Care Providers & Services 4.1%** |
| Centene Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 619923 | &nbsp;&nbsp; 27822144 |
| Humana, Inc. | &nbsp;&nbsp; 102988 | &nbsp;&nbsp; 19623333 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp; 336547 | &nbsp;&nbsp; 71317675 |
| Total |  | &nbsp;&nbsp; 118763152 |
| **Life Sciences Tools & Services 1.8%** | **Life Sciences Tools & Services 1.8%** | **Life Sciences Tools & Services 1.8%** |
| Agilent Technologies, Inc. | &nbsp;&nbsp; 423286 | &nbsp;&nbsp; 51378455 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **219642161** |
| **Industrials 17.6%** | **Industrials 17.6%** | **Industrials 17.6%** |
| **Aerospace & Defense 2.3%** | **Aerospace & Defense 2.3%** | **Aerospace & Defense 2.3%** |
| ATI, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 415699 | &nbsp;&nbsp; 68004199 |
| **Building Products 2.0%** | **Building Products 2.0%** | **Building Products 2.0%** |
| Trane Technologies PLC | &nbsp;&nbsp; 126506 | &nbsp;&nbsp; 58486254 |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Electrical Equipment 2.9%** | **Electrical Equipment 2.9%** | **Electrical Equipment 2.9%** |
| AMETEK, Inc. | &nbsp;&nbsp; 356350 | &nbsp;&nbsp; 85246047 |
| **Machinery 5.4%** | **Machinery 5.4%** | **Machinery 5.4%** |
| Ingersoll Rand, Inc. | &nbsp;&nbsp; 749981 | &nbsp;&nbsp; 70603211 |
| ITT, Inc. | &nbsp;&nbsp; 419995 | &nbsp;&nbsp; 85011188 |
| Total |  | &nbsp;&nbsp; 155614399 |
| **Passenger Airlines 2.7%** | **Passenger Airlines 2.7%** | **Passenger Airlines 2.7%** |
| Southwest Airlines Co. | &nbsp;&nbsp; 1578933 | &nbsp;&nbsp; 77778240 |
| **Professional Services 2.3%** | **Professional Services 2.3%** | **Professional Services 2.3%** |
| CACI International, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 108821 | &nbsp;&nbsp; 66399310 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **511528449** |
| **Information Technology 10.7%** | **Information Technology 10.7%** | **Information Technology 10.7%** |
| **Communications Equipment 1.8%** | **Communications Equipment 1.8%** | **Communications Equipment 1.8%** |
| Motorola Solutions, Inc. | &nbsp;&nbsp; 108761 | &nbsp;&nbsp; 52451080 |
| **Electronic Equipment, Instruments & Components 3.5%** | **Electronic Equipment, Instruments & Components 3.5%** | **Electronic Equipment, Instruments & Components 3.5%** |
| Corning, Inc. | &nbsp;&nbsp; 669423 | &nbsp;&nbsp; 100667831 |
| **Semiconductors & Semiconductor Equipment 5.4%** | **Semiconductors & Semiconductor Equipment 5.4%** | **Semiconductors & Semiconductor Equipment 5.4%** |
| Marvell Technology, Inc. | &nbsp;&nbsp; 421655 | &nbsp;&nbsp; 34444997 |
| ON Semiconductor Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 885357 | &nbsp;&nbsp; 58858533 |
| Teradyne, Inc. | &nbsp;&nbsp; 203822 | &nbsp;&nbsp; 65229155 |
| Total |  | &nbsp;&nbsp; 158532685 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **311651596** |
| **Materials 5.6%** | **Materials 5.6%** | **Materials 5.6%** |
| **Chemicals 1.4%** | **Chemicals 1.4%** | **Chemicals 1.4%** |
| Chemours Co. (The) | &nbsp;&nbsp; 2251585 | &nbsp;&nbsp; 41068910 |
| **Containers & Packaging 2.1%** | **Containers & Packaging 2.1%** | **Containers & Packaging 2.1%** |
| Smurfit WestRock PLC | &nbsp;&nbsp; 1283495 | &nbsp;&nbsp; 60337100 |
| **Metals & Mining 2.1%** | **Metals & Mining 2.1%** | **Metals & Mining 2.1%** |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp; 882849 | &nbsp;&nbsp; 60104360 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **161510370** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Real Estate 8.3%** | **Real Estate 8.3%** | **Real Estate 8.3%** |
| **Health Care REITs 2.7%** | **Health Care REITs 2.7%** | **Health Care REITs 2.7%** |
| Welltower, Inc. | &nbsp;&nbsp; 372913 | &nbsp;&nbsp; 77237741 |
| **Industrial REITs 2.2%** | **Industrial REITs 2.2%** | **Industrial REITs 2.2%** |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp; 998456 | &nbsp;&nbsp; 63042512 |
| **Specialized REITs 3.4%** | **Specialized REITs 3.4%** | **Specialized REITs 3.4%** |
| Gaming and Leisure Properties, Inc. | &nbsp;&nbsp; 1078607 | &nbsp;&nbsp; 52754668 |
| Lamar Advertising Co., Class A | &nbsp;&nbsp; 340884 | &nbsp;&nbsp; 46953362 |
| Total |  | &nbsp;&nbsp; 99708030 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **239988283** |
| **Utilities 8.1%** | **Utilities 8.1%** | **Utilities 8.1%** |
| **Electric Utilities 5.2%** | **Electric Utilities 5.2%** | **Electric Utilities 5.2%** |
| Entergy Corp. | &nbsp;&nbsp; 903008 | &nbsp;&nbsp; 96721187 |
| PG&E Corp. | &nbsp;&nbsp; 2941213 | &nbsp;&nbsp; 55883047 |
| Total |  | &nbsp;&nbsp; 152604234 |
| **Multi-Utilities 2.9%** | **Multi-Utilities 2.9%** | **Multi-Utilities 2.9%** |
| Ameren Corp. | &nbsp;&nbsp; 744840 | &nbsp;&nbsp; 84375475 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **236979709** |
| Total Common Stocks <br>(Cost $1,450,409,665) | Total Common Stocks <br>(Cost $1,450,409,665) | &nbsp;&nbsp; **2860056771** |
| **Money Market Funds 1.8%** | **Money Market Funds 1.8%** | **Money Market Funds 1.8%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 51678426 | &nbsp;&nbsp; 51668090 |
| Total Money Market Funds <br>(Cost $51,657,999) | Total Money Market Funds <br>(Cost $51,657,999) | &nbsp;&nbsp; **51668090** |
| **Total Investments in Securities** <br>**(Cost: $1,502,067,664)** | **Total Investments in Securities** <br>**(Cost: $1,502,067,664)** | &nbsp;&nbsp; **2911724861** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(7528457)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **2904196404** |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) The rate shown is the seven-day current annualized yield at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 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, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 47893645 | &nbsp;&nbsp; 300221345 | &nbsp;&nbsp; (296448285)<br>| &nbsp;&nbsp; 1385 | &nbsp;&nbsp; 51668090 | &nbsp;&nbsp; 2780 | &nbsp;&nbsp; 1246967 | &nbsp;&nbsp; 51678426 |

---

**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 February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 124438834 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 124438834 |
| Consumer Discretionary | 274877041 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 274877041 |
| Consumer Staples | 162740357 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 162740357 |
| Energy | 160042929 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 160042929 |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| Financials | 456657042 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 456657042 |
| Health Care | 219642161 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 219642161 |
| Industrials | 511528449 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 511528449 |
| Information Technology | 311651596 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 311651596 |
| Materials | 161510370 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161510370 |
| Real Estate | 239988283 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 239988283 |
| Utilities | 236979709 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 236979709 |
| Total Common Stocks | 2860056771 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2860056771 |
| Money Market Funds | 51668090 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 51668090 |
| Total Investments in Securities | 2911724861 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2911724861 |

---

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 Select Mid Cap Value Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $1,450,409,665) | $2860056771 |
| Affiliated issuers (cost $51,657,999) | 51668090 |
| Cash | 4 |
| Receivable for: |  |
| Investments sold | 17288383 |
| Capital shares sold | 2873814 |
| Dividends | 4099180 |
| Foreign tax reclaims | 145131 |
| Prepaid expenses | 6451 |
| Total assets | 2936137824 |
| **Liabilities** |  |
| Payable for: |  |
| Investments purchased | 29086958 |
| Capital shares redeemed | 1889938 |
| Management services fees | 57683 |
| Distribution and/or service fees | 8438 |
| Transfer agent fees | 256710 |
| Compensation of chief compliance officer | 413 |
| Compensation of board members | 4132 |
| Other expenses | 79066 |
| Deferred compensation of board members | 558082 |
| Total liabilities | 31941420 |
| **Net assets applicable to outstanding capital stock** | **$2904196404** |
| **Represented by** |  |
| Paid in capital | 1461874425 |
| Total distributable earnings (loss) | 1442321979 |
| **Total - representing net assets applicable to outstanding capital stock** | **$2904196404** |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Statement of Assets and Liabilities (continued)

February 28, 2026

---

| | |
|:---|:---|
| **Class A** |  |
| Net assets | $1133249402 |
| Shares outstanding | 68490073 |
| Net asset value per share | $16.55 |
| 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) | $17.56 |
| **Class C** |  |
| Net assets | $8147164 |
| Shares outstanding | 577169 |
| Net asset value per share | $14.12 |
| **Institutional Class** |  |
| Net assets | $920486567 |
| Shares outstanding | 55368367 |
| Net asset value per share | $16.62 |
| **Institutional 2 Class** |  |
| Net assets | $91476357 |
| Shares outstanding | 5221704 |
| Net asset value per share | $17.52 |
| **Institutional 3 Class** |  |
| Net assets | $566647284 |
| Shares outstanding | 34288958 |
| Net asset value per share | $16.53 |
| **Class R** |  |
| Net assets | $29863565 |
| Shares outstanding | 1817769 |
| Net asset value per share | $16.43 |
| **Class S** |  |
| Net assets | $154326065 |
| Shares outstanding | 9280435 |
| Net asset value per share | $16.63 |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $43800856 |
| Dividends — affiliated issuers | 1246967 |
| Foreign taxes withheld | (238154)<br>|
| Total income | 44809669 |
| Expenses: |  |
| Management services fees | 18121891 |
| Distribution and/or service fees |  |
| Class A | 2484969 |
| Class C | 70824 |
| Class R | 125789 |
| Transfer agent fees |  |
| Class A | 1267975 |
| Class C | 9045 |
| Institutional Class | 1036537 |
| Institutional 2 Class | 39371 |
| Institutional 3 Class | 20786 |
| Class R | 32062 |
| Class S | 174526 |
| Custodian fees | 13566 |
| Printing and postage fees | 137653 |
| Registration fees | 135900 |
| Accounting services fees | 33323 |
| Legal fees | 53164 |
| Compensation of chief compliance officer | 377 |
| Compensation of board members | 36334 |
| Deferred compensation of board members | 95258 |
| Other | 55942 |
| Total expenses | 23945292 |
| Expense reduction | (2061)<br>|
| Total net expenses | 23943231 |
| **Net investment income** | 20866438 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 168680322 |
| Investments — affiliated issuers | 2780 |
| Net realized gain | 168683102 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 449117660 |
| Investments — affiliated issuers | 1385 |
| Net change in unrealized appreciation (depreciation) | 449119045 |
| Net realized and unrealized gain | 617802147 |
| **Net increase in net assets resulting from operations** | **$638668585** |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $20866438 | &nbsp;&nbsp; $20301264 |
| Net realized gain | 168683102 | &nbsp;&nbsp; 172743274 |
| Net change in unrealized appreciation (depreciation) | 449119045 | &nbsp;&nbsp; 60529976 |
| Net increase in net assets resulting from operations | 638668585 | &nbsp;&nbsp; 253574514 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (64705337)<br>| &nbsp;&nbsp; (67184595)<br>|
| Advisor Class |  | &nbsp;&nbsp; (3064955)<br>|
| Class C | (478261)<br>| &nbsp;&nbsp; (510821)<br>|
| Institutional Class | (53619440)<br>| &nbsp;&nbsp; (59079425)<br>|
| Institutional 2 Class | (4745737)<br>| &nbsp;&nbsp; (4726146)<br>|
| Institutional 3 Class | (31053032)<br>| &nbsp;&nbsp; (26019854)<br>|
| Class R | (1598810)<br>| &nbsp;&nbsp; (1521411)<br>|
| Class S | (9247438)<br>| &nbsp;&nbsp; (7018788)<br>|
| Total distributions to shareholders | (165448055)<br>| &nbsp;&nbsp; (169125995)<br>|
| Decrease in net assets from capital stock activity | (41397673)<br>| &nbsp;&nbsp; (91829666)<br>|
| Total increase (decrease) in net assets | 431822857 | &nbsp;&nbsp; (7381147)<br>|
| Net assets at beginning of year | 2472373547 | &nbsp;&nbsp; 2479754694 |
| **Net assets at end of year** | **$2904196404** | &nbsp;&nbsp; **$2472373547** |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 2167333 | &nbsp;&nbsp;&nbsp;&nbsp; 31071732 | &nbsp;&nbsp;&nbsp;&nbsp; 2472380 | &nbsp;&nbsp;&nbsp;&nbsp; 35023393 |
| Distributions reinvested | 4366940 | &nbsp;&nbsp;&nbsp;&nbsp; 61459995 | &nbsp;&nbsp;&nbsp;&nbsp; 4477992 | &nbsp;&nbsp;&nbsp;&nbsp; 63768951 |
| Shares redeemed | (10115156)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (144328377)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10348010)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (146275313)<br>|
| Net decrease | (3580883)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (51796650)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3397638)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (47482969)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1842163 | &nbsp;&nbsp;&nbsp;&nbsp; 27296563 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 209885 | &nbsp;&nbsp;&nbsp;&nbsp; 3027582 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (13840780)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (219826930)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (11788732)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (189502785)<br>|
| Class C |  |  |  |  |
| Shares sold | 108062 | &nbsp;&nbsp;&nbsp;&nbsp; 1346506 | &nbsp;&nbsp;&nbsp;&nbsp; 83216 | &nbsp;&nbsp;&nbsp;&nbsp; 1031181 |
| Distributions reinvested | 38468 | &nbsp;&nbsp;&nbsp;&nbsp; 464674 | &nbsp;&nbsp;&nbsp;&nbsp; 40305 | &nbsp;&nbsp;&nbsp;&nbsp; 497668 |
| Shares redeemed | (176940)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2146206)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (232431)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2844741)<br>|
| Net decrease | (30410)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (335026)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (108910)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1315892)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 7168565 | &nbsp;&nbsp;&nbsp;&nbsp; 105938362 | &nbsp;&nbsp;&nbsp;&nbsp; 17800781 | &nbsp;&nbsp;&nbsp;&nbsp; 267412440 |
| Distributions reinvested | 3509628 | &nbsp;&nbsp;&nbsp;&nbsp; 49489919 | &nbsp;&nbsp;&nbsp;&nbsp; 3817095 | &nbsp;&nbsp;&nbsp;&nbsp; 54557117 |
| Shares redeemed | (17207399)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (247438571)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (22452912)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (326031058)<br>|
| Net decrease | (6529206)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (92010290)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (835036)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4061501)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 1177082 | &nbsp;&nbsp;&nbsp;&nbsp; 18309021 | &nbsp;&nbsp;&nbsp;&nbsp; 1011827 | &nbsp;&nbsp;&nbsp;&nbsp; 15099660 |
| Distributions reinvested | 284607 | &nbsp;&nbsp;&nbsp;&nbsp; 4236700 | &nbsp;&nbsp;&nbsp;&nbsp; 281834 | &nbsp;&nbsp;&nbsp;&nbsp; 4226511 |
| Shares redeemed | (1088887)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (16251528)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1252468)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (18497866)<br>|
| Net increase | 372802 | &nbsp;&nbsp;&nbsp;&nbsp; 6294193 | &nbsp;&nbsp;&nbsp;&nbsp; 41193 | &nbsp;&nbsp;&nbsp;&nbsp; 828305 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 14443541 | &nbsp;&nbsp;&nbsp;&nbsp; 209800995 | &nbsp;&nbsp;&nbsp;&nbsp; 4856040 | &nbsp;&nbsp;&nbsp;&nbsp; 68544509 |
| Distributions reinvested | 2004609 | &nbsp;&nbsp;&nbsp;&nbsp; 28287113 | &nbsp;&nbsp;&nbsp;&nbsp; 1629446 | &nbsp;&nbsp;&nbsp;&nbsp; 23150889 |
| Shares redeemed | (9167299)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (132280797)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6501952)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (91343405)<br>|
| Net increase (decrease) | 7280851 | &nbsp;&nbsp;&nbsp;&nbsp; 105807311 | &nbsp;&nbsp;&nbsp;&nbsp; (16466)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 351993 |
| Class R |  |  |  |  |
| Shares sold | 445676 | &nbsp;&nbsp;&nbsp;&nbsp; 6216593 | &nbsp;&nbsp;&nbsp;&nbsp; 435203 | &nbsp;&nbsp;&nbsp;&nbsp; 6106140 |
| Distributions reinvested | 114171 | &nbsp;&nbsp;&nbsp;&nbsp; 1598133 | &nbsp;&nbsp;&nbsp;&nbsp; 107358 | &nbsp;&nbsp;&nbsp;&nbsp; 1520741 |
| Shares redeemed | (502633)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7017572)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (490354)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6908356)<br>|
| Net increase | 57214 | &nbsp;&nbsp;&nbsp;&nbsp; 797154 | &nbsp;&nbsp;&nbsp;&nbsp; 52207 | &nbsp;&nbsp;&nbsp;&nbsp; 718525 |
| Class S |  |  |  |  |
| Shares sold | 289355 | &nbsp;&nbsp;&nbsp;&nbsp; 4249723 | &nbsp;&nbsp;&nbsp;&nbsp; 10436766 | &nbsp;&nbsp;&nbsp;&nbsp; 155001726 |
| Distributions reinvested | 651523 | &nbsp;&nbsp;&nbsp;&nbsp; 9207307 | &nbsp;&nbsp;&nbsp;&nbsp; 483721 | &nbsp;&nbsp;&nbsp;&nbsp; 7018788 |
| Shares redeemed | (1648125)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (23611395)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (932805)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13385856)<br>|
| Net increase (decrease) | (707247)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10154365)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9987682 | &nbsp;&nbsp;&nbsp;&nbsp; 148634658 |
| **Total net decrease** | **(3136879)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(41397673)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(6065700)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(91829666)**<br>|

---

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

Columbia Select Mid Cap 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>**(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** |
| Year Ended 2/28/2026 | $13.84 | 0.10 | 3.56 | 3.66 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.95)<br>|
| Year Ended 2/28/2025 | $13.39 | 0.09 | 1.30 | 1.39 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp; (0.94)<br>|
| Year Ended 2/29/2024 | $12.47 | 0.11 | 0.97 | 1.08 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.16)<br>|
| Year Ended 2/28/2023 | $13.54 | 0.08 | &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.34)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (0.73)<br>|
| Year Ended 2/28/2022 | $12.50 | 0.05 | 2.22 | 2.27 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (1.23)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 2/28/2026 | $11.94 | &nbsp;&nbsp; (0.01)<br>| 3.05 | 3.04 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.86)<br>|
| Year Ended 2/28/2025 | $11.66 | &nbsp;&nbsp; (0.01)<br>| 1.13 | 1.12 | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp; (0.84)<br>|
| Year Ended 2/29/2024 | $10.88 | 0.02 | 0.83 | 0.85 | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.07)<br>|
| Year Ended 2/28/2023 | $11.92 | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (0.66)<br>|
| Year Ended 2/28/2022 | $11.18 | &nbsp;&nbsp; (0.05)<br>| 1.98 | 1.93 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (1.19)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $13.90 | 0.13 | 3.57 | 3.70 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.98)<br>|
| Year Ended 2/28/2025 | $13.44 | 0.13 | 1.30 | 1.43 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp; (0.97)<br>|
| Year Ended 2/29/2024 | $12.53 | 0.14 | 0.96 | 1.10 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.19)<br>|
| Year Ended 2/28/2023 | $13.59 | 0.11 | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (0.76)<br>|
| Year Ended 2/28/2022 | $12.55 | 0.08 | 2.22 | 2.30 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (1.26)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | $14.60 | 0.15 | 3.76 | 3.91 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.99)<br>|
| Year Ended 2/28/2025 | $14.07 | 0.14 | 1.38 | 1.52 | &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp; (0.99)<br>|
| Year Ended 2/29/2024 | $13.11 | 0.16 | 1.00 | 1.16 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.20)<br>|
| Year Ended 2/28/2023 | $14.18 | 0.13 | &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (0.78)<br>|
| Year Ended 2/28/2022 | $13.05 | 0.10 | 2.31 | 2.41 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (1.28)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | $13.83 | 0.15 | 3.55 | 3.70 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (1.00)<br>|
| Year Ended 2/28/2025 | $13.38 | 0.14 | 1.30 | 1.44 | &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp; (0.99)<br>|
| Year Ended 2/29/2024 | $12.46 | 0.16 | 0.97 | 1.13 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.21)<br>|
| Year Ended 2/28/2023 | $13.53 | 0.13 | &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (0.78)<br>|
| Year Ended 2/28/2022 | $12.50 | 0.10 | 2.21 | 2.31 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (1.28)<br>|

---

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

Columbia Select Mid Cap Value 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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $16.55 | &nbsp;&nbsp;&nbsp;&nbsp; 27.76% | &nbsp;&nbsp;&nbsp;&nbsp; 1.13% | &nbsp;&nbsp;&nbsp;&nbsp; 1.13% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.68% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $1133249 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.84 | &nbsp;&nbsp;&nbsp;&nbsp; 10.27% | &nbsp;&nbsp;&nbsp;&nbsp; 1.13% | &nbsp;&nbsp;&nbsp;&nbsp; 1.13% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $997414 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $13.39 | &nbsp;&nbsp;&nbsp;&nbsp; 8.79% | &nbsp;&nbsp;&nbsp;&nbsp; 1.15% | &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.91% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $1010326 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $12.47 | &nbsp;&nbsp;&nbsp;&nbsp; (1.90%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.14% | &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.67% | &nbsp;&nbsp;&nbsp;&nbsp; 30% | &nbsp;&nbsp;&nbsp;&nbsp; $1038459 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $13.54 | &nbsp;&nbsp;&nbsp;&nbsp; 18.15% | &nbsp;&nbsp;&nbsp;&nbsp; 1.13% | &nbsp;&nbsp;&nbsp;&nbsp; 1.13% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35% | &nbsp;&nbsp;&nbsp;&nbsp; 37% | &nbsp;&nbsp;&nbsp;&nbsp; $1142075 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $14.12 | &nbsp;&nbsp;&nbsp;&nbsp; 26.82% | &nbsp;&nbsp;&nbsp;&nbsp; 1.88% | &nbsp;&nbsp;&nbsp;&nbsp; 1.88% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.07%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $8147 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.94 | &nbsp;&nbsp;&nbsp;&nbsp; 9.44% | &nbsp;&nbsp;&nbsp;&nbsp; 1.88% | &nbsp;&nbsp;&nbsp;&nbsp; 1.87% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.11%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $7255 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.66 | &nbsp;&nbsp;&nbsp;&nbsp; 7.90% | &nbsp;&nbsp;&nbsp;&nbsp; 1.90% | &nbsp;&nbsp;&nbsp;&nbsp; 1.87% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $8353 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $10.88 | &nbsp;&nbsp;&nbsp;&nbsp; (2.56%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.89% | &nbsp;&nbsp;&nbsp;&nbsp; 1.87% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.07%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 30% | &nbsp;&nbsp;&nbsp;&nbsp; $10281 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $11.92 | &nbsp;&nbsp;&nbsp;&nbsp; 17.19% | &nbsp;&nbsp;&nbsp;&nbsp; 1.88% | &nbsp;&nbsp;&nbsp;&nbsp; 1.88% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.39%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 37% | &nbsp;&nbsp;&nbsp;&nbsp; $12830 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $16.62 | &nbsp;&nbsp;&nbsp;&nbsp; 28.02% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.93% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $920487 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.90 | &nbsp;&nbsp;&nbsp;&nbsp; 10.58% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $860455 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $13.44 | &nbsp;&nbsp;&nbsp;&nbsp; 8.95% | &nbsp;&nbsp;&nbsp;&nbsp; 0.90% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $843358 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $12.53 | &nbsp;&nbsp;&nbsp;&nbsp; (1.56%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 0.87% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.92% | &nbsp;&nbsp;&nbsp;&nbsp; 30% | &nbsp;&nbsp;&nbsp;&nbsp; $861739 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $13.59 | &nbsp;&nbsp;&nbsp;&nbsp; 18.36% | &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60% | &nbsp;&nbsp;&nbsp;&nbsp; 37% | &nbsp;&nbsp;&nbsp;&nbsp; $861576 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $17.52 | &nbsp;&nbsp;&nbsp;&nbsp; 28.15% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 1.00% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $91476 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.60 | &nbsp;&nbsp;&nbsp;&nbsp; 10.69% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% | &nbsp;&nbsp;&nbsp;&nbsp; 0.96% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $70788 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.07 | &nbsp;&nbsp;&nbsp;&nbsp; 9.04% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.78% | &nbsp;&nbsp;&nbsp;&nbsp; 1.23% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $67666 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $13.11 | &nbsp;&nbsp;&nbsp;&nbsp; (1.47%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% | &nbsp;&nbsp;&nbsp;&nbsp; 1.02% | &nbsp;&nbsp;&nbsp;&nbsp; 30% | &nbsp;&nbsp;&nbsp;&nbsp; $123621 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $14.18 | &nbsp;&nbsp;&nbsp;&nbsp; 18.47% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% | &nbsp;&nbsp;&nbsp;&nbsp; 0.78% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 37% | &nbsp;&nbsp;&nbsp;&nbsp; $130351 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $16.53 | &nbsp;&nbsp;&nbsp;&nbsp; 28.19% | &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 1.04% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $566647 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.83 | &nbsp;&nbsp;&nbsp;&nbsp; 10.71% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 1.01% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $373399 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $13.38 | &nbsp;&nbsp;&nbsp;&nbsp; 9.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 1.29% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $361466 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $12.46 | &nbsp;&nbsp;&nbsp;&nbsp; (1.50%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 1.05% | &nbsp;&nbsp;&nbsp;&nbsp; 30% | &nbsp;&nbsp;&nbsp;&nbsp; $411996 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $13.53 | &nbsp;&nbsp;&nbsp;&nbsp; 18.53% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 37% | &nbsp;&nbsp;&nbsp;&nbsp; $434024 |

---

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

Columbia Select Mid Cap Value 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>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | $13.75 | 0.06 | 3.53 | 3.59 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.91)<br>|
| Year Ended 2/28/2025 | $13.30 | 0.05 | 1.30 | 1.35 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp; (0.90)<br>|
| Year Ended 2/29/2024 | $12.40 | 0.08 | 0.95 | 1.03 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.13)<br>|
| Year Ended 2/28/2023 | $13.46 | 0.05 | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (0.70)<br>|
| Year Ended 2/28/2022 | $12.44 | 0.01 | 2.21 | 2.22 | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (1.20)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | $13.90 | 0.13 | 3.58 | 3.71 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.98)<br>|
| Year Ended 2/28/2025<sup>(d)</sup> <br>| $14.77 | 0.04 | &nbsp;&nbsp; (0.21 )<sup>(e)</sup><br>| &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp; (0.70)<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 Select Mid Cap Value Fund \| 2026

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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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $16.43 | &nbsp;&nbsp;&nbsp;&nbsp; 27.40% | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.42% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $29864 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.75 | &nbsp;&nbsp;&nbsp;&nbsp; 10.06% | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $24201 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $13.30 | &nbsp;&nbsp;&nbsp;&nbsp; 8.40% | &nbsp;&nbsp;&nbsp;&nbsp; 1.40% | &nbsp;&nbsp;&nbsp;&nbsp; 1.37% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.66% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $22727 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $12.40 | &nbsp;&nbsp;&nbsp;&nbsp; (2.09%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.39% | &nbsp;&nbsp;&nbsp;&nbsp; 1.37% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.42% | &nbsp;&nbsp;&nbsp;&nbsp; 30% | &nbsp;&nbsp;&nbsp;&nbsp; $25136 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $13.46 | &nbsp;&nbsp;&nbsp;&nbsp; 17.79% | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10% | &nbsp;&nbsp;&nbsp;&nbsp; 37% | &nbsp;&nbsp;&nbsp;&nbsp; $27787 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $16.63 | &nbsp;&nbsp;&nbsp;&nbsp; 28.09% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.93% | &nbsp;&nbsp;&nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp;&nbsp; $154326 |
|  Year Ended 2/28/2025 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $13.90 | &nbsp;&nbsp;&nbsp;&nbsp; (1.34%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90% | &nbsp;&nbsp;&nbsp;&nbsp; 0.90% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $138861 |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Select Mid Cap Value Fund (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory trust.

**Fund shares**

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

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

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 Select Mid Cap Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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

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

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

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

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

**Security transactions**

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

**Income recognition**

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

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

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

Columbia Select Mid Cap Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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 and paid each calendar quarter. 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 0.82% to 0.65% as the Fund's net assets increase. The effective management services fee rate for the year ended February 28, 2026 was 0.73% of the Fund's average daily net assets.

Columbia Select Mid Cap Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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 year ended February 28, 2026, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.13 |
| Class C | 0.13 |
| Institutional Class | 0.13 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |
| Class R | 0.13 |
| Class S | 0.13 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $2,061.

Columbia Select Mid Cap Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**Distribution and service fees**

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

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

**Sales charges (unaudited)**

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the year ended February 28, 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; 101393 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 189 |

---

&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;&nbsp;&nbsp;&nbsp;&nbsp; **July 1, 2025** <br>**through** <br>**June 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;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**July 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;&nbsp;&nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.91 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.83 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.78 |
| Class R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 |

---

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

Columbia Select Mid Cap Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, trustees' deferred compensation and earnings and profits distributed to shareholders on the redemption of shares. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Undistributed net** <br>**investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<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; (8664000)<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; 8664000 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 19276859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146171196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165448055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24135605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144990390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169125995 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 3803250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61771232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1377305579 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 1534419282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1433493456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (56187877)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1377305579 |

---

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.

Columbia Select Mid Cap Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $366,569,609 and $545,129,659, respectively, for the year ended February 28, 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 did not borrow or lend money under the Interfund Program during the year ended February 28, 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 year ended February 28, 2026.

Columbia Select Mid Cap Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 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.

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 Mid Cap Value Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Select Mid Cap Value Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Select Mid Cap Value Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Select Mid Cap Value Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | | |
|:---|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dividends** <br>**received** <br>**deduction**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital** <br>**gain** <br>**dividend**<br>|
| 100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $179423238 |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Columbia Select Mid Cap Value Fund \| 2026

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**Columbia Select Mid Cap Value Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382imge74862632.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/

ANN197_02_T01_(04/26)

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![](g250382imga90922871.jpg)

Columbia Small Cap Index Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_ff731ff8-5127-44c8-aa1f-81b1f0a6dbd7_POI-CommonContent-Date-134_1) | 3 |
| [Statement of Assets and Liabilities](#xx_ff731ff8-5127-44c8-aa1f-81b1f0a6dbd7_FS-CommonContent-Date-134_1) | 16 |
| [Statement of Operations](#xx_ff731ff8-5127-44c8-aa1f-81b1f0a6dbd7_FS-CommonContent-Date-134_2) | 17 |
| [Statement of Changes in Net Assets](#xx_ff731ff8-5127-44c8-aa1f-81b1f0a6dbd7_FS-CommonContent-Date-134_3) | 18 |
| [Financial Highlights](#xx_ff731ff8-5127-44c8-aa1f-81b1f0a6dbd7_FIHI-CommonContent-Date-134_2) | 20 |
| [Notes to Financial Statements](#xx_ff731ff8-5127-44c8-aa1f-81b1f0a6dbd7_NTF-CommonContent-Date-134_1) | 22 |
| [Report of Independent Registered Public Accounting Firm](#xx_ff731ff8-5127-44c8-aa1f-81b1f0a6dbd7_AUD-CommonContent-Date-134_1) | 32 |
| [Federal Income Tax Information](#xx_ff731ff8-5127-44c8-aa1f-81b1f0a6dbd7_CCH-CommonContent-Date-134_1) | 33 |

---

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(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 98.5%** | **Common Stocks 98.5%** | **Common Stocks 98.5%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 3.0%** | **Communication Services 3.0%** | **Communication Services 3.0%** |
| **Diversified Telecommunication Services 0.7%** | **Diversified Telecommunication Services 0.7%** | **Diversified Telecommunication Services 0.7%** |
| Cogent Communications Holdings, Inc. | &nbsp;&nbsp; 75550 | &nbsp;&nbsp; 1417318 |
| Iridium Communications, Inc. | &nbsp;&nbsp; 166728 | &nbsp;&nbsp; 3993136 |
| Lumen Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1501947 | &nbsp;&nbsp; 10678843 |
| Shenandoah Telecommunications Co. | &nbsp;&nbsp; 72528 | &nbsp;&nbsp; 988557 |
| Uniti Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 285361 | &nbsp;&nbsp; 2088842 |
| Total |  | &nbsp;&nbsp; 19166696 |
| **Entertainment 0.6%** | **Entertainment 0.6%** | **Entertainment 0.6%** |
| Cinemark Holdings, Inc. | &nbsp;&nbsp; 164254 | &nbsp;&nbsp; 4638533 |
| Madison Square Garden Sports Corp., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 28600 | &nbsp;&nbsp; 9485476 |
| Total |  | &nbsp;&nbsp; 14124009 |
| **Interactive Media & Services 0.6%** | **Interactive Media & Services 0.6%** | **Interactive Media & Services 0.6%** |
| Angi, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 57008 | &nbsp;&nbsp; 443522 |
| Cargurus, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 129308 | &nbsp;&nbsp; 3969756 |
| Cars.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 88542 | &nbsp;&nbsp; 756149 |
| IAC, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 103775 | &nbsp;&nbsp; 3976658 |
| QuinStreet, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 90334 | &nbsp;&nbsp; 1058714 |
| Shutterstock, Inc. | &nbsp;&nbsp; 38438 | &nbsp;&nbsp; 645758 |
| TripAdvisor, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 186086 | &nbsp;&nbsp; 1881329 |
| Yelp, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 92985 | &nbsp;&nbsp; 2072636 |
| Ziff Davis, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 62881 | &nbsp;&nbsp; 1702818 |
| Total |  | &nbsp;&nbsp; 16507340 |
| **Media 0.8%** | **Media 0.8%** | **Media 0.8%** |
| Cable One, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7355 | &nbsp;&nbsp; 705712 |
| DoubleVerify Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 212844 | &nbsp;&nbsp; 2243376 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp; 65070 | &nbsp;&nbsp; 2018471 |
| Scholastic Corp. | &nbsp;&nbsp; 35988 | &nbsp;&nbsp; 1251303 |
| TEGNA, Inc. | &nbsp;&nbsp; 256360 | &nbsp;&nbsp; 5370742 |
| Versant Media Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 231403 | &nbsp;&nbsp; 7710348 |
| Total |  | &nbsp;&nbsp; 19299952 |
| **Wireless Telecommunication Services 0.3%** | **Wireless Telecommunication Services 0.3%** | **Wireless Telecommunication Services 0.3%** |
| Gogo<sup>(a)</sup> <br>| &nbsp;&nbsp; 123574 | &nbsp;&nbsp; 522718 |
| Telephone and Data Systems, Inc. | &nbsp;&nbsp; 156435 | &nbsp;&nbsp; 7000466 |
| Total |  | &nbsp;&nbsp; 7523184 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **76621181** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Discretionary 13.8%** | **Consumer Discretionary 13.8%** | **Consumer Discretionary 13.8%** |
| **Automobile Components 1.5%** | **Automobile Components 1.5%** | **Automobile Components 1.5%** |
| Adient PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 126065 | &nbsp;&nbsp; 3065901 |
| Dana, Inc. | &nbsp;&nbsp; 185973 | &nbsp;&nbsp; 6367716 |
| Dauch Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 373570 | &nbsp;&nbsp; 2465562 |
| Dorman Products, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 44270 | &nbsp;&nbsp; 5217662 |
| Fox Factory Holding Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 66536 | &nbsp;&nbsp; 1120466 |
| Gentherm, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 48587 | &nbsp;&nbsp; 1592196 |
| LCI Industries | &nbsp;&nbsp; 38517 | &nbsp;&nbsp; 5130465 |
| Patrick Industries, Inc. | &nbsp;&nbsp; 52966 | &nbsp;&nbsp; 6556661 |
| Phinia, Inc. | &nbsp;&nbsp; 61191 | &nbsp;&nbsp; 4444302 |
| Standard Motor Products, Inc. | &nbsp;&nbsp; 33265 | &nbsp;&nbsp; 1319955 |
| XPEL, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 40092 | &nbsp;&nbsp; 1708721 |
| Total |  | &nbsp;&nbsp; 38989607 |
| **Automobiles 0.1%** | **Automobiles 0.1%** | **Automobiles 0.1%** |
| Winnebago Industries, Inc. | &nbsp;&nbsp; 44898 | &nbsp;&nbsp; 1790981 |
| **Broadline Retail 0.4%** | **Broadline Retail 0.4%** | **Broadline Retail 0.4%** |
| Etsy, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 157114 | &nbsp;&nbsp; 8622416 |
| Kohl's Corp. | &nbsp;&nbsp; 178393 | &nbsp;&nbsp; 2920294 |
| Total |  | &nbsp;&nbsp; 11542710 |
| **Distributors 0.5%** | **Distributors 0.5%** | **Distributors 0.5%** |
| LKQ Corp. | &nbsp;&nbsp; 407430 | &nbsp;&nbsp; 13490007 |
| **Diversified Consumer Services 1.5%** | **Diversified Consumer Services 1.5%** | **Diversified Consumer Services 1.5%** |
| ADT, Inc. | &nbsp;&nbsp; 808734 | &nbsp;&nbsp; 6486047 |
| Covista, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 57826 | &nbsp;&nbsp; 5666948 |
| frontdoor, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 114785 | &nbsp;&nbsp; 7870808 |
| Matthews International Corp., Class A | &nbsp;&nbsp; 49011 | &nbsp;&nbsp; 1295361 |
| Mister Car Wash, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 156420 | &nbsp;&nbsp; 1113710 |
| OneSpaWorld Holdings Ltd. | &nbsp;&nbsp; 162280 | &nbsp;&nbsp; 3493888 |
| Perdoceo Education Corp. | &nbsp;&nbsp; 96240 | &nbsp;&nbsp; 3209604 |
| Strategic Education, Inc. | &nbsp;&nbsp; 36995 | &nbsp;&nbsp; 3043949 |
| Stride, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 68893 | &nbsp;&nbsp; 5813191 |
| Total |  | &nbsp;&nbsp; 37993506 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Hotels, Restaurants & Leisure 2.2%** | **Hotels, Restaurants & Leisure 2.2%** | **Hotels, Restaurants & Leisure 2.2%** |
| BJ's Restaurants, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 33641 | &nbsp;&nbsp; 1278022 |
| Bloomin' Brands, Inc. | &nbsp;&nbsp; 122078 | &nbsp;&nbsp; 747117 |
| Brinker International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 70722 | &nbsp;&nbsp; 10481000 |
| Caesars Entertainment, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 324885 | &nbsp;&nbsp; 8138369 |
| Cheesecake Factory, Inc. (The) | &nbsp;&nbsp; 72988 | &nbsp;&nbsp; 4728163 |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp; 35446 | &nbsp;&nbsp; 1159793 |
| Dave & Buster's Entertainment, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 43041 | &nbsp;&nbsp; 633563 |
| Golden Entertainment, Inc. | &nbsp;&nbsp; 31246 | &nbsp;&nbsp; 903009 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp; 44077 | &nbsp;&nbsp; 2865446 |
| Monarch Casino & Resort, Inc. | &nbsp;&nbsp; 19753 | &nbsp;&nbsp; 1898263 |
| Papa John's International, Inc. | &nbsp;&nbsp; 52191 | &nbsp;&nbsp; 1636188 |
| Penn Entertainment, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 203336 | &nbsp;&nbsp; 3180175 |
| Pursuit Attractions and Hospitality, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 34214 | &nbsp;&nbsp; 1189279 |
| Red Rock Resorts, Inc., Class A | &nbsp;&nbsp; 77264 | &nbsp;&nbsp; 4678335 |
| Sabre Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 628551 | &nbsp;&nbsp; 741690 |
| Shake Shack, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 64074 | &nbsp;&nbsp; 6151745 |
| Six Flags Entertainment Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 161519 | &nbsp;&nbsp; 2750669 |
| United Parks & Resorts, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 43415 | &nbsp;&nbsp; 1510408 |
| Wendy's Co. (The) | &nbsp;&nbsp; 251466 | &nbsp;&nbsp; 1926230 |
| Total |  | &nbsp;&nbsp; 56597464 |
| **Household Durables 3.1%** | **Household Durables 3.1%** | **Household Durables 3.1%** |
| Cavco Industries, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12423 | &nbsp;&nbsp; 7171301 |
| Century Communities, Inc. | &nbsp;&nbsp; 40691 | &nbsp;&nbsp; 2735656 |
| Champion Homes, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 88911 | &nbsp;&nbsp; 8311400 |
| Dream Finders Homes, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 45721 | &nbsp;&nbsp; 826178 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp; 36858 | &nbsp;&nbsp; 839625 |
| Green Brick Partners, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 48541 | &nbsp;&nbsp; 3575530 |
| Installed Building Products, Inc. | &nbsp;&nbsp; 36050 | &nbsp;&nbsp; 11815748 |
| La-Z-Boy, Inc. | &nbsp;&nbsp; 65591 | &nbsp;&nbsp; 2342911 |
| Leggett & Platt, Inc. | &nbsp;&nbsp; 215578 | &nbsp;&nbsp; 2517951 |
| LGI Homes, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 32327 | &nbsp;&nbsp; 1677771 |
| M/I Homes, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 41622 | &nbsp;&nbsp; 5916983 |
| Meritage Homes Corp. | &nbsp;&nbsp; 112069 | &nbsp;&nbsp; 8452244 |
| Mohawk Industries, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 82658 | &nbsp;&nbsp; 10354568 |
| Newell Brands, Inc. | &nbsp;&nbsp; 667254 | &nbsp;&nbsp; 3036006 |
| Sonos, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 192409 | &nbsp;&nbsp; 2963099 |
| Tri Pointe Homes, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 136814 | &nbsp;&nbsp; 6334488 |
| Total |  | &nbsp;&nbsp; 78871459 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Leisure Products 0.3%** | **Leisure Products 0.3%** | **Leisure Products 0.3%** |
| Acushnet Holdings Corp. | &nbsp;&nbsp; 43885 | &nbsp;&nbsp; 4490752 |
| Callaway Golf Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 222448 | &nbsp;&nbsp; 3127619 |
| Total |  | &nbsp;&nbsp; 7618371 |
| **Specialty Retail 3.4%** | **Specialty Retail 3.4%** | **Specialty Retail 3.4%** |
| Academy Sports & Outdoors, Inc. | &nbsp;&nbsp; 106049 | &nbsp;&nbsp; 6376726 |
| Advance Auto Parts, Inc. | &nbsp;&nbsp; 95539 | &nbsp;&nbsp; 5079809 |
| American Eagle Outfitters, Inc. | &nbsp;&nbsp; 250674 | &nbsp;&nbsp; 6159060 |
| Asbury Automotive Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 30945 | &nbsp;&nbsp; 6615422 |
| Boot Barn Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 48522 | &nbsp;&nbsp; 9181333 |
| Buckle, Inc. (The) | &nbsp;&nbsp; 47942 | &nbsp;&nbsp; 2567294 |
| CarMax, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 233738 | &nbsp;&nbsp; 10090470 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp; 19691 | &nbsp;&nbsp; 6414146 |
| MarineMax, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 30065 | &nbsp;&nbsp; 916983 |
| Monro, Inc. | &nbsp;&nbsp; 47784 | &nbsp;&nbsp; 1028790 |
| National Vision Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 126240 | &nbsp;&nbsp; 3404693 |
| Sally Beauty Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 155191 | &nbsp;&nbsp; 2493919 |
| Signet Jewelers Ltd. | &nbsp;&nbsp; 65180 | &nbsp;&nbsp; 6269664 |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp; 23615 | &nbsp;&nbsp; 1481133 |
| Upbound Group, Inc. | &nbsp;&nbsp; 82954 | &nbsp;&nbsp; 1779363 |
| Urban Outfitters, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 85665 | &nbsp;&nbsp; 5671023 |
| Victoria's Secret & Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 127600 | &nbsp;&nbsp; 8000520 |
| Winmark Corp. | &nbsp;&nbsp; 4706 | &nbsp;&nbsp; 2147065 |
| Total |  | &nbsp;&nbsp; 85677413 |
| **Textiles, Apparel & Luxury Goods 0.8%** | **Textiles, Apparel & Luxury Goods 0.8%** | **Textiles, Apparel & Luxury Goods 0.8%** |
| Carter's, Inc. | &nbsp;&nbsp; 58016 | &nbsp;&nbsp; 1946437 |
| G-III Apparel Group Ltd. | &nbsp;&nbsp; 59132 | &nbsp;&nbsp; 1808848 |
| Kontoor Brands, Inc. | &nbsp;&nbsp; 81412 | &nbsp;&nbsp; 5308876 |
| Oxford Industries, Inc. | &nbsp;&nbsp; 22244 | &nbsp;&nbsp; 880640 |
| Steven Madden Ltd. | &nbsp;&nbsp; 115652 | &nbsp;&nbsp; 4175037 |
| Under Armour, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 300574 | &nbsp;&nbsp; 2230259 |
| Under Armour, Inc., Class C<sup>(a)</sup> <br>| &nbsp;&nbsp; 188392 | &nbsp;&nbsp; 1362074 |
| Wolverine World Wide, Inc. | &nbsp;&nbsp; 130471 | &nbsp;&nbsp; 2305423 |
| Total |  | &nbsp;&nbsp; 20017594 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **352589112** |
| **Consumer Staples 2.5%** | **Consumer Staples 2.5%** | **Consumer Staples 2.5%** |
| **Beverages 0.1%** | **Beverages 0.1%** | **Beverages 0.1%** |
| National Beverage Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 37255 | &nbsp;&nbsp; 1354219 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Staples Distribution & Retail 0.7%** | **Consumer Staples Distribution & Retail 0.7%** | **Consumer Staples Distribution & Retail 0.7%** |
| Andersons, Inc. (The) | &nbsp;&nbsp; 53476 | &nbsp;&nbsp; 3491448 |
| Grocery Outlet Holding Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 156208 | &nbsp;&nbsp; 1543335 |
| PriceSmart, Inc. | &nbsp;&nbsp; 40283 | &nbsp;&nbsp; 6228558 |
| The Chefs' Warehouse<sup>(a)</sup> <br>| &nbsp;&nbsp; 57637 | &nbsp;&nbsp; 4114705 |
| United Natural Foods, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 96542 | &nbsp;&nbsp; 3688870 |
| Total |  | &nbsp;&nbsp; 19066916 |
| **Food Products 0.9%** | **Food Products 0.9%** | **Food Products 0.9%** |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp; 72567 | &nbsp;&nbsp; 6321311 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp; 52471 | &nbsp;&nbsp; 2252580 |
| Freshpet, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 77689 | &nbsp;&nbsp; 6560836 |
| J&J Snack Foods Corp. | &nbsp;&nbsp; 24790 | &nbsp;&nbsp; 2158218 |
| John B. Sanfilippo & Son, Inc. | &nbsp;&nbsp; 14400 | &nbsp;&nbsp; 1189584 |
| Simply Good Foods Co. (The)<sup>(a)</sup> <br>| &nbsp;&nbsp; 146231 | &nbsp;&nbsp; 2494701 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp; 31287 | &nbsp;&nbsp; 1321250 |
| Vital Farms, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 59154 | &nbsp;&nbsp; 1247558 |
| Total |  | &nbsp;&nbsp; 23546038 |
| **Household Products 0.5%** | **Household Products 0.5%** | **Household Products 0.5%** |
| Central Garden & Pet Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12904 | &nbsp;&nbsp; 505708 |
| Central Garden & Pet Co., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 82161 | &nbsp;&nbsp; 2837841 |
| Energizer Holdings, Inc. | &nbsp;&nbsp; 96713 | &nbsp;&nbsp; 2088034 |
| Reynolds Consumer Products, Inc. | &nbsp;&nbsp; 87045 | &nbsp;&nbsp; 2159586 |
| WD-40 Co. | &nbsp;&nbsp; 21533 | &nbsp;&nbsp; 5129160 |
| Total |  | &nbsp;&nbsp; 12720329 |
| **Personal Care Products 0.2%** | **Personal Care Products 0.2%** | **Personal Care Products 0.2%** |
| Edgewell Personal Care Co. | &nbsp;&nbsp; 73958 | &nbsp;&nbsp; 1681805 |
| Interparfums, Inc. | &nbsp;&nbsp; 29092 | &nbsp;&nbsp; 2931892 |
| Total |  | &nbsp;&nbsp; 4613697 |
| **Tobacco 0.1%** | **Tobacco 0.1%** | **Tobacco 0.1%** |
| Universal Corp. | &nbsp;&nbsp; 39668 | &nbsp;&nbsp; 2131362 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **63432561** |
| **Energy 5.5%** | **Energy 5.5%** | **Energy 5.5%** |
| **Energy Equipment & Services 2.8%** | **Energy Equipment & Services 2.8%** | **Energy Equipment & Services 2.8%** |
| Archrock, Inc. | &nbsp;&nbsp; 279142 | &nbsp;&nbsp; 9862087 |
| Atlas Energy Solutions, Inc. | &nbsp;&nbsp; 122355 | &nbsp;&nbsp; 1178279 |
| Bristow Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 40049 | &nbsp;&nbsp; 1910337 |
| Cactus, Inc., Class A | &nbsp;&nbsp; 109575 | &nbsp;&nbsp; 5917050 |
| Core Laboratories, Inc. | &nbsp;&nbsp; 74116 | &nbsp;&nbsp; 1303700 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Helix Energy Solutions Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 217726 | &nbsp;&nbsp; 2000902 |
| Helmerich & Payne, Inc. | &nbsp;&nbsp; 158282 | &nbsp;&nbsp; 5574692 |
| Innovex International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 61440 | &nbsp;&nbsp; 1618944 |
| Kodiak Gas Services, Inc. | &nbsp;&nbsp; 132294 | &nbsp;&nbsp; 7219284 |
| Liberty Energy, Inc., Class A | &nbsp;&nbsp; 257808 | &nbsp;&nbsp; 7241827 |
| Noble Corp PLC | &nbsp;&nbsp; 199745 | &nbsp;&nbsp; 9074415 |
| Oceaneering International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 158815 | &nbsp;&nbsp; 5637932 |
| Patterson-UTI Energy, Inc. | &nbsp;&nbsp; 549323 | &nbsp;&nbsp; 4674739 |
| RPC, Inc. | &nbsp;&nbsp; 141542 | &nbsp;&nbsp; 822359 |
| Tidewater, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 73369 | &nbsp;&nbsp; 5826966 |
| Total |  | &nbsp;&nbsp; 69863513 |
| **Oil, Gas & Consumable Fuels 2.7%** | **Oil, Gas & Consumable Fuels 2.7%** | **Oil, Gas & Consumable Fuels 2.7%** |
| California Resources Corp. | &nbsp;&nbsp; 125017 | &nbsp;&nbsp; 7356000 |
| Comstock Resources, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 125946 | &nbsp;&nbsp; 2469801 |
| Core Natural Resources, Inc. | &nbsp;&nbsp; 81559 | &nbsp;&nbsp; 6694363 |
| Crescent Energy Co., Class A | &nbsp;&nbsp; 384810 | &nbsp;&nbsp; 4486885 |
| CVR Energy, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 48005 | &nbsp;&nbsp; 1159801 |
| Dorian LPG Ltd. | &nbsp;&nbsp; 58641 | &nbsp;&nbsp; 2169130 |
| International Seaways, Inc. | &nbsp;&nbsp; 64471 | &nbsp;&nbsp; 4869495 |
| Kinetik Holdings, Inc. | &nbsp;&nbsp; 72359 | &nbsp;&nbsp; 3291611 |
| Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp; 291530 | &nbsp;&nbsp; 8110364 |
| Northern Oil & Gas, Inc. | &nbsp;&nbsp; 154621 | &nbsp;&nbsp; 4265993 |
| Par Pacific Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 80050 | &nbsp;&nbsp; 3415733 |
| Peabody Energy Corp. | &nbsp;&nbsp; 193555 | &nbsp;&nbsp; 6104725 |
| REX American Resources Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 45253 | &nbsp;&nbsp; 1609197 |
| SM Energy Co. | &nbsp;&nbsp; 360259 | &nbsp;&nbsp; 8332791 |
| Talos Energy, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 200227 | &nbsp;&nbsp; 2452781 |
| World Kinect Corp. | &nbsp;&nbsp; 88435 | &nbsp;&nbsp; 2206453 |
| Total |  | &nbsp;&nbsp; 68995123 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **138858636** |
| **Financials 17.3%** | **Financials 17.3%** | **Financials 17.3%** |
| **Banks 8.3%** | **Banks 8.3%** | **Banks 8.3%** |
| Ameris Bancorp | &nbsp;&nbsp; 101813 | &nbsp;&nbsp; 7906798 |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp; 226850 | &nbsp;&nbsp; 8407061 |
| Axos Financial, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 90162 | &nbsp;&nbsp; 7827865 |
| Banc of California, Inc. | &nbsp;&nbsp; 213666 | &nbsp;&nbsp; 3946411 |
| BancFirst Corp. | &nbsp;&nbsp; 32896 | &nbsp;&nbsp; 3618560 |
| Bancorp, Inc. (The)<sup>(a)</sup> <br>| &nbsp;&nbsp; 69906 | &nbsp;&nbsp; 3669366 |
| Bank of Hawaii Corp. | &nbsp;&nbsp; 63327 | &nbsp;&nbsp; 4798287 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| BankUnited, Inc. | &nbsp;&nbsp; 119608 | &nbsp;&nbsp; 5585694 |
| Banner Corp. | &nbsp;&nbsp; 54256 | &nbsp;&nbsp; 3192966 |
| Beacon Financial Corp. | &nbsp;&nbsp; 133561 | &nbsp;&nbsp; 3972104 |
| Capitol Federal Financial, Inc. | &nbsp;&nbsp; 193601 | &nbsp;&nbsp; 1390055 |
| Cathay General Bancorp | &nbsp;&nbsp; 108297 | &nbsp;&nbsp; 5383444 |
| Central Pacific Financial Corp. | &nbsp;&nbsp; 42703 | &nbsp;&nbsp; 1360090 |
| City Holding Co. | &nbsp;&nbsp; 22935 | &nbsp;&nbsp; 2751512 |
| Community Financial System, Inc. | &nbsp;&nbsp; 83822 | &nbsp;&nbsp; 5075422 |
| Customers Bancorp, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 50579 | &nbsp;&nbsp; 3411048 |
| CVB Financial Corp. | &nbsp;&nbsp; 204698 | &nbsp;&nbsp; 3936342 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp; 64977 | &nbsp;&nbsp; 2102006 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp; 43992 | &nbsp;&nbsp; 1119596 |
| FB Financial Corp. | &nbsp;&nbsp; 64244 | &nbsp;&nbsp; 3513504 |
| First BanCorp | &nbsp;&nbsp; 249744 | &nbsp;&nbsp; 5277091 |
| First BanCorp | &nbsp;&nbsp; 66001 | &nbsp;&nbsp; 3748197 |
| First Commonwealth Financial Corp. | &nbsp;&nbsp; 164626 | &nbsp;&nbsp; 2885894 |
| First Financial Bancorp | &nbsp;&nbsp; 164690 | &nbsp;&nbsp; 4622848 |
| First Hawaiian, Inc. | &nbsp;&nbsp; 196929 | &nbsp;&nbsp; 4875962 |
| First Interstate Bancsystem, Inc. | &nbsp;&nbsp; 142484 | &nbsp;&nbsp; 4931371 |
| Fulton Financial Corp. | &nbsp;&nbsp; 287457 | &nbsp;&nbsp; 5878496 |
| Hanmi Financial Corp. | &nbsp;&nbsp; 47268 | &nbsp;&nbsp; 1234167 |
| Heritage Financial Corp. | &nbsp;&nbsp; 54051 | &nbsp;&nbsp; 1427487 |
| Hilltop Holdings, Inc. | &nbsp;&nbsp; 68334 | &nbsp;&nbsp; 2557742 |
| Hope Bancorp, Inc. | &nbsp;&nbsp; 204038 | &nbsp;&nbsp; 2297468 |
| Independent Bank Corp. | &nbsp;&nbsp; 78913 | &nbsp;&nbsp; 6160738 |
| Lakeland Financial Corp. | &nbsp;&nbsp; 40635 | &nbsp;&nbsp; 2360487 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp; 60199 | &nbsp;&nbsp; 2407358 |
| NBT Bancorp, Inc. | &nbsp;&nbsp; 83271 | &nbsp;&nbsp; 3557337 |
| Northwest Bancshares, Inc. | &nbsp;&nbsp; 232552 | &nbsp;&nbsp; 2895272 |
| OFG Bancorp | &nbsp;&nbsp; 69965 | &nbsp;&nbsp; 2804197 |
| Park National Corp. | &nbsp;&nbsp; 22777 | &nbsp;&nbsp; 3747500 |
| Pathward Financial, Inc. | &nbsp;&nbsp; 36248 | &nbsp;&nbsp; 3290956 |
| Preferred Bank | &nbsp;&nbsp; 18055 | &nbsp;&nbsp; 1583785 |
| Provident Financial Services, Inc. | &nbsp;&nbsp; 207915 | &nbsp;&nbsp; 4374532 |
| Renasant Corp. | &nbsp;&nbsp; 151248 | &nbsp;&nbsp; 5694487 |
| S&T Bancorp, Inc. | &nbsp;&nbsp; 60841 | &nbsp;&nbsp; 2543762 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp; 154193 | &nbsp;&nbsp; 4798486 |
| ServisFirst Bancshares, Inc. | &nbsp;&nbsp; 79988 | &nbsp;&nbsp; 6479828 |
| Simmons First National Corp., Class A | &nbsp;&nbsp; 230352 | &nbsp;&nbsp; 4586308 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Southside Bancshares, Inc. | &nbsp;&nbsp; 44986 | &nbsp;&nbsp; 1408961 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp; 73328 | &nbsp;&nbsp; 2761532 |
| Tompkins Financial Corp. | &nbsp;&nbsp; 20215 | &nbsp;&nbsp; 1550693 |
| Triumph Financial, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 35933 | &nbsp;&nbsp; 2007217 |
| TrustCo Bank Corp. | &nbsp;&nbsp; 29326 | &nbsp;&nbsp; 1271869 |
| Trustmark Corp. | &nbsp;&nbsp; 95437 | &nbsp;&nbsp; 4064662 |
| United Community Banks, Inc. | &nbsp;&nbsp; 193486 | &nbsp;&nbsp; 6224445 |
| WaFd, Inc. | &nbsp;&nbsp; 125416 | &nbsp;&nbsp; 3907963 |
| Westamerica BanCorp | &nbsp;&nbsp; 39687 | &nbsp;&nbsp; 2010146 |
| WSFS Financial Corp. | &nbsp;&nbsp; 87030 | &nbsp;&nbsp; 5527275 |
| Total |  | &nbsp;&nbsp; 210724650 |
| **Capital Markets 3.1%** | **Capital Markets 3.1%** | **Capital Markets 3.1%** |
| Acadian Asset Management, Inc. | &nbsp;&nbsp; 42061 | &nbsp;&nbsp; 2265405 |
| Artisan Partners Asset Management, Inc., <br> Class A<br>| &nbsp;&nbsp; 112156 | &nbsp;&nbsp; 4517644 |
| BGC Group, Inc., Class A | &nbsp;&nbsp; 571902 | &nbsp;&nbsp; 5444507 |
| Cohen & Steers, Inc. | &nbsp;&nbsp; 43843 | &nbsp;&nbsp; 2931781 |
| Donnelley Financial Solutions, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 42240 | &nbsp;&nbsp; 2101862 |
| MarketAxess Holdings, Inc. | &nbsp;&nbsp; 59168 | &nbsp;&nbsp; 11360256 |
| Moelis & Co., ADR, Class A | &nbsp;&nbsp; 117782 | &nbsp;&nbsp; 6991540 |
| Piper Sandler Companies | &nbsp;&nbsp; 26480 | &nbsp;&nbsp; 7826164 |
| PJT Partners, Inc. | &nbsp;&nbsp; 38690 | &nbsp;&nbsp; 5713739 |
| StepStone Group, Inc., Class A | &nbsp;&nbsp; 115869 | &nbsp;&nbsp; 4998589 |
| StoneX Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 73912 | &nbsp;&nbsp; 9423780 |
| Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp; 76486 | &nbsp;&nbsp; 5291302 |
| Virtu Financial, Inc. Class A | &nbsp;&nbsp; 127040 | &nbsp;&nbsp; 5260726 |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp; 10106 | &nbsp;&nbsp; 1398266 |
| WisdomTree, Inc. | &nbsp;&nbsp; 182878 | &nbsp;&nbsp; 3129043 |
| Total |  | &nbsp;&nbsp; 78654604 |
| **Consumer Finance 0.8%** | **Consumer Finance 0.8%** | **Consumer Finance 0.8%** |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp; 72682 | &nbsp;&nbsp; 5150246 |
| Encore Capital Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 35502 | &nbsp;&nbsp; 2424432 |
| Enova International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 39479 | &nbsp;&nbsp; 5489555 |
| Ezcorp, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 92195 | &nbsp;&nbsp; 2445933 |
| Navient Corp. | &nbsp;&nbsp; 107093 | &nbsp;&nbsp; 941347 |
| PRA Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 62101 | &nbsp;&nbsp; 978091 |
| PROG Holdings, Inc. | &nbsp;&nbsp; 62947 | &nbsp;&nbsp; 2216364 |
| World Acceptance Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 4577 | &nbsp;&nbsp; 617346 |
| Total |  | &nbsp;&nbsp; 20263314 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Financial Services 2.1%** | **Financial Services 2.1%** | **Financial Services 2.1%** |
| Enact Holdings, Inc. | &nbsp;&nbsp; 45968 | &nbsp;&nbsp; 1923301 |
| EVERTEC, Inc. | &nbsp;&nbsp; 101846 | &nbsp;&nbsp; 2883260 |
| HA Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp; 200684 | &nbsp;&nbsp; 7328980 |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp; 108190 | &nbsp;&nbsp; 11844641 |
| Merchants Bancorp | &nbsp;&nbsp; 46748 | &nbsp;&nbsp; 1976506 |
| NCR Atleos Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 117635 | &nbsp;&nbsp; 5208878 |
| NMI Holdings, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 122353 | &nbsp;&nbsp; 4809696 |
| Payoneer Global, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 459559 | &nbsp;&nbsp; 1985295 |
| Radian Group, Inc. | &nbsp;&nbsp; 215662 | &nbsp;&nbsp; 7444652 |
| Sezzle, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 27181 | &nbsp;&nbsp; 1982854 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp; 54221 | &nbsp;&nbsp; 2494708 |
| Western Union Co. (The) | &nbsp;&nbsp; 505923 | &nbsp;&nbsp; 4872039 |
| Total |  | &nbsp;&nbsp; 54754810 |
| **Insurance 2.1%** | **Insurance 2.1%** | **Insurance 2.1%** |
| AMERISAFE, Inc. | &nbsp;&nbsp; 30105 | &nbsp;&nbsp; 979316 |
| Assured Guaranty Ltd. | &nbsp;&nbsp; 68957 | &nbsp;&nbsp; 5944783 |
| Employers Holdings, Inc. | &nbsp;&nbsp; 35781 | &nbsp;&nbsp; 1479544 |
| Genworth Financial, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 635707 | &nbsp;&nbsp; 5365367 |
| Goosehead Insurance, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 39648 | &nbsp;&nbsp; 2148922 |
| HCI Group, Inc. | &nbsp;&nbsp; 17096 | &nbsp;&nbsp; 3016076 |
| Horace Mann Educators Corp. | &nbsp;&nbsp; 64760 | &nbsp;&nbsp; 2817708 |
| Lincoln National Corp. | &nbsp;&nbsp; 269076 | &nbsp;&nbsp; 9229307 |
| Mercury General Corp. | &nbsp;&nbsp; 42319 | &nbsp;&nbsp; 3833255 |
| Palomar Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 42184 | &nbsp;&nbsp; 5218583 |
| ProAssurance Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 81837 | &nbsp;&nbsp; 2009098 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp; 23707 | &nbsp;&nbsp; 1840374 |
| SiriusPoint Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 165485 | &nbsp;&nbsp; 3498353 |
| Stewart Information Services Corp. | &nbsp;&nbsp; 44608 | &nbsp;&nbsp; 3166722 |
| Trupanion, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 53633 | &nbsp;&nbsp; 1423420 |
| United Fire Group, Inc. | &nbsp;&nbsp; 34926 | &nbsp;&nbsp; 1357224 |
| Total |  | &nbsp;&nbsp; 53328052 |
| **Mortgage Real Estate Investment Trusts (REITS) 0.9%** | **Mortgage Real Estate Investment Trusts (REITS) 0.9%** | **Mortgage Real Estate Investment Trusts (REITS) 0.9%** |
| Apollo Commercial Real Estate Finance, Inc. | &nbsp;&nbsp; 207893 | &nbsp;&nbsp; 2203666 |
| Arbor Realty Trust, Inc. | &nbsp;&nbsp; 311517 | &nbsp;&nbsp; 2470330 |
| ARMOUR Residential REIT, Inc. | &nbsp;&nbsp; 178112 | &nbsp;&nbsp; 3197110 |
| Blackstone Mortgage Trust, Inc. | &nbsp;&nbsp; 250950 | &nbsp;&nbsp; 4820750 |
| Ellington Financial, Inc. | &nbsp;&nbsp; 170823 | &nbsp;&nbsp; 2121622 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Franklin BSP Realty Trust, Inc. | &nbsp;&nbsp; 129895 | &nbsp;&nbsp; 1185941 |
| KKR Real Estate Finance Trust, Inc. | &nbsp;&nbsp; 86518 | &nbsp;&nbsp; 601300 |
| New York Mortgage Trust, Inc. | &nbsp;&nbsp; 133687 | &nbsp;&nbsp; 1101581 |
| PennyMac Mortgage Investment Trust | &nbsp;&nbsp; 138511 | &nbsp;&nbsp; 1698145 |
| Redwood Trust, Inc. | &nbsp;&nbsp; 201645 | &nbsp;&nbsp; 1219952 |
| Two Harbors Investment Corp. | &nbsp;&nbsp; 165789 | &nbsp;&nbsp; 1712600 |
| Total |  | &nbsp;&nbsp; 22332997 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **440058427** |
| **Health Care 10.7%** | **Health Care 10.7%** | **Health Care 10.7%** |
| **Biotechnology 3.1%** | **Biotechnology 3.1%** | **Biotechnology 3.1%** |
| ACADIA Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 199277 | &nbsp;&nbsp; 4894243 |
| ADMA Biologics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 378829 | &nbsp;&nbsp; 5898368 |
| Alkermes PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 262824 | &nbsp;&nbsp; 7911002 |
| Apellis Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 163129 | &nbsp;&nbsp; 3419184 |
| Arcus Biosciences, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 135891 | &nbsp;&nbsp; 2768100 |
| Catalyst Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 183905 | &nbsp;&nbsp; 4244527 |
| Krystal Biotech, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 41080 | &nbsp;&nbsp; 11323291 |
| Myriad Genetics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 148372 | &nbsp;&nbsp; 683995 |
| Protagonist Therapeutics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 93538 | &nbsp;&nbsp; 8612979 |
| PTC Therapeutics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 127797 | &nbsp;&nbsp; 8714477 |
| Sarepta Therapeutics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 166793 | &nbsp;&nbsp; 2795451 |
| TG Therapeutics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 216419 | &nbsp;&nbsp; 6512048 |
| Veracyte, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 125825 | &nbsp;&nbsp; 4603937 |
| Vericel Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 80500 | &nbsp;&nbsp; 2872240 |
| Vir Biotechnology, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 150586 | &nbsp;&nbsp; 1368827 |
| Xencor, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 113665 | &nbsp;&nbsp; 1451502 |
| Total |  | &nbsp;&nbsp; 78074171 |
| **Health Care Equipment & Supplies 3.1%** | **Health Care Equipment & Supplies 3.1%** | **Health Care Equipment & Supplies 3.1%** |
| Artivion, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 66359 | &nbsp;&nbsp; 2554822 |
| Avanos Medical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 73887 | &nbsp;&nbsp; 1041807 |
| CONMED Corp. | &nbsp;&nbsp; 49293 | &nbsp;&nbsp; 2267478 |
| Embecta Corp. | &nbsp;&nbsp; 93092 | &nbsp;&nbsp; 955124 |
| Enovis Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 91030 | &nbsp;&nbsp; 2318534 |
| Glaukos Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 91421 | &nbsp;&nbsp; 11007088 |
| ICU Medical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 39295 | &nbsp;&nbsp; 5917041 |
| Inspire Medical Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 42087 | &nbsp;&nbsp; 2715032 |
| Integer Holdings Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 55771 | &nbsp;&nbsp; 4834230 |
| Integra LifeSciences Holdings Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 106625 | &nbsp;&nbsp; 1213393 |
| LeMaitre Vascular, Inc. | &nbsp;&nbsp; 33221 | &nbsp;&nbsp; 3593848 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Merit Medical Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 94374 | &nbsp;&nbsp; 7283785 |
| Neogen Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 345882 | &nbsp;&nbsp; 3884255 |
| Omnicell, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 71432 | &nbsp;&nbsp; 2935855 |
| QuidelOrtho Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 108130 | &nbsp;&nbsp; 2458876 |
| STAAR Surgical Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 79176 | &nbsp;&nbsp; 1575602 |
| Tandem Diabetes Care, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 107923 | &nbsp;&nbsp; 2730452 |
| Teleflex, Inc. | &nbsp;&nbsp; 70345 | &nbsp;&nbsp; 8586311 |
| TransMedics Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 54396 | &nbsp;&nbsp; 7901563 |
| UFP Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12275 | &nbsp;&nbsp; 2584870 |
| Total |  | &nbsp;&nbsp; 78359966 |
| **Health Care Providers & Services 2.0%** | **Health Care Providers & Services 2.0%** | **Health Care Providers & Services 2.0%** |
| Acadia Healthcare Co., Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 146850 | &nbsp;&nbsp; 3442164 |
| AdaptHealth Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 170818 | &nbsp;&nbsp; 1562985 |
| Addus HomeCare Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 29032 | &nbsp;&nbsp; 3005683 |
| AMN Healthcare Services, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 61145 | &nbsp;&nbsp; 1191105 |
| Astrana Health, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 68673 | &nbsp;&nbsp; 1396122 |
| BrightSpring Health Services, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 180855 | &nbsp;&nbsp; 7492823 |
| Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp; 189731 | &nbsp;&nbsp; 4545955 |
| Corvel Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 49759 | &nbsp;&nbsp; 2566569 |
| National HealthCare Corp. | &nbsp;&nbsp; 19757 | &nbsp;&nbsp; 3230269 |
| NeoGenomics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 205951 | &nbsp;&nbsp; 2024498 |
| Pediatrix Medical Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 133994 | &nbsp;&nbsp; 2659781 |
| Privia Health Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 184039 | &nbsp;&nbsp; 4370926 |
| Progyny, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 127621 | &nbsp;&nbsp; 2257615 |
| RadNet, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 110516 | &nbsp;&nbsp; 7715122 |
| Select Medical Holdings Corp. | &nbsp;&nbsp; 175406 | &nbsp;&nbsp; 2625828 |
| U.S. Physical Therapy, Inc. | &nbsp;&nbsp; 24201 | &nbsp;&nbsp; 2007715 |
| Total |  | &nbsp;&nbsp; 52095160 |
| **Health Care Technology 0.3%** | **Health Care Technology 0.3%** | **Health Care Technology 0.3%** |
| Certara, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 190140 | &nbsp;&nbsp; 1346191 |
| HealthStream, Inc. | &nbsp;&nbsp; 37779 | &nbsp;&nbsp; 802048 |
| Schrodinger, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 89321 | &nbsp;&nbsp; 1077211 |
| Waystar Holding Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 182715 | &nbsp;&nbsp; 4686640 |
| Total |  | &nbsp;&nbsp; 7912090 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Life Sciences Tools & Services 0.2%** | **Life Sciences Tools & Services 0.2%** | **Life Sciences Tools & Services 0.2%** |
| Azenta, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 64939 | &nbsp;&nbsp; 1752054 |
| BioLife Solutions, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 62078 | &nbsp;&nbsp; 1502287 |
| Cytek Biosciences, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 175033 | &nbsp;&nbsp; 784148 |
| Fortrea Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 147076 | &nbsp;&nbsp; 1576655 |
| Total |  | &nbsp;&nbsp; 5615144 |
| **Pharmaceuticals 2.0%** | **Pharmaceuticals 2.0%** | **Pharmaceuticals 2.0%** |
| Amneal Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 270206 | &nbsp;&nbsp; 3731545 |
| Amphastar Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 56320 | &nbsp;&nbsp; 1139354 |
| ANI Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 28615 | &nbsp;&nbsp; 2114648 |
| Collegium Pharmaceutical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 50316 | &nbsp;&nbsp; 2096668 |
| Corcept Therapeutics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 149014 | &nbsp;&nbsp; 5319800 |
| Harmony Biosciences Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 63257 | &nbsp;&nbsp; 1805355 |
| Indivior Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 198734 | &nbsp;&nbsp; 6502576 |
| Innoviva, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 113062 | &nbsp;&nbsp; 2595903 |
| Ligand Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 31328 | &nbsp;&nbsp; 6212656 |
| Organon & Co. | &nbsp;&nbsp; 413823 | &nbsp;&nbsp; 3016770 |
| Pacira Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 68478 | &nbsp;&nbsp; 1500353 |
| Perrigo Co. PLC | &nbsp;&nbsp; 219060 | &nbsp;&nbsp; 2895973 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp; 32548 | &nbsp;&nbsp; 1776795 |
| Prestige Consumer Healthcare, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 76537 | &nbsp;&nbsp; 5304014 |
| Supernus Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 91268 | &nbsp;&nbsp; 4995098 |
| Total |  | &nbsp;&nbsp; 51007508 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **273064039** |
| **Industrials 17.6%** | **Industrials 17.6%** | **Industrials 17.6%** |
| **Aerospace & Defense 1.2%** | **Aerospace & Defense 1.2%** | **Aerospace & Defense 1.2%** |
| AAR Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 62120 | &nbsp;&nbsp; 7278600 |
| Mercury Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 84184 | &nbsp;&nbsp; 7494902 |
| Moog, Inc., Class A | &nbsp;&nbsp; 45243 | &nbsp;&nbsp; 15266345 |
| National Presto Industries, Inc. | &nbsp;&nbsp; 8424 | &nbsp;&nbsp; 1111463 |
| Total |  | &nbsp;&nbsp; 31151310 |
| **Air Freight & Logistics 0.2%** | **Air Freight & Logistics 0.2%** | **Air Freight & Logistics 0.2%** |
| Forward Air Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 35314 | &nbsp;&nbsp; 893091 |
| HUB Group, Inc., Class A | &nbsp;&nbsp; 96426 | &nbsp;&nbsp; 4153068 |
| Total |  | &nbsp;&nbsp; 5046159 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Building Products 2.6%** | **Building Products 2.6%** | **Building Products 2.6%** |
| American Woodmark Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 23190 | &nbsp;&nbsp; 1161819 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp; 34240 | &nbsp;&nbsp; 1363437 |
| Armstrong World Industries, Inc. | &nbsp;&nbsp; 68648 | &nbsp;&nbsp; 11910428 |
| AZZ, Inc. | &nbsp;&nbsp; 47843 | &nbsp;&nbsp; 6505691 |
| CSW Industrials, Inc. | &nbsp;&nbsp; 26561 | &nbsp;&nbsp; 7817699 |
| Gibraltar Industries, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 47025 | &nbsp;&nbsp; 2138697 |
| Griffon Corp. | &nbsp;&nbsp; 62252 | &nbsp;&nbsp; 5306361 |
| Hayward Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 317573 | &nbsp;&nbsp; 5081168 |
| Insteel Industries, Inc. | &nbsp;&nbsp; 30905 | &nbsp;&nbsp; 1152138 |
| MasterBrand, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 201798 | &nbsp;&nbsp; 2042196 |
| Quanex Building Products Corp. | &nbsp;&nbsp; 72608 | &nbsp;&nbsp; 1490642 |
| Resideo Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 219242 | &nbsp;&nbsp; 8484665 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp; 237077 | &nbsp;&nbsp; 12086186 |
| Total |  | &nbsp;&nbsp; 66541127 |
| **Commercial Services & Supplies 2.3%** | **Commercial Services & Supplies 2.3%** | **Commercial Services & Supplies 2.3%** |
| ABM Industries, Inc. | &nbsp;&nbsp; 97468 | &nbsp;&nbsp; 4337326 |
| Brady Corp., Class A | &nbsp;&nbsp; 69330 | &nbsp;&nbsp; 6401932 |
| Casella Waste Systems, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 99491 | &nbsp;&nbsp; 9268582 |
| CoreCivic, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 166471 | &nbsp;&nbsp; 2943207 |
| Deluxe Corp. | &nbsp;&nbsp; 71641 | &nbsp;&nbsp; 1988038 |
| Enviri Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 128378 | &nbsp;&nbsp; 2430196 |
| GEO Group, Inc. (The)<sup>(a)</sup> <br>| &nbsp;&nbsp; 217626 | &nbsp;&nbsp; 3273095 |
| Healthcare Services Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 112147 | &nbsp;&nbsp; 2441440 |
| HNI Corp. | &nbsp;&nbsp; 109607 | &nbsp;&nbsp; 4927931 |
| Interface, Inc. | &nbsp;&nbsp; 92943 | &nbsp;&nbsp; 2926775 |
| Liquidity Services, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 37788 | &nbsp;&nbsp; 1194479 |
| MillerKnoll, Inc. | &nbsp;&nbsp; 109058 | &nbsp;&nbsp; 2196428 |
| OPENLANE, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 169142 | &nbsp;&nbsp; 4822238 |
| Pitney Bowes, Inc. | &nbsp;&nbsp; 235647 | &nbsp;&nbsp; 2528492 |
| Unifirst Corp. | &nbsp;&nbsp; 23185 | &nbsp;&nbsp; 5444302 |
| Vestis Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 178376 | &nbsp;&nbsp; 1403819 |
| Total |  | &nbsp;&nbsp; 58528280 |
| **Construction & Engineering 2.1%** | **Construction & Engineering 2.1%** | **Construction & Engineering 2.1%** |
| Arcosa, Inc. | &nbsp;&nbsp; 78067 | &nbsp;&nbsp; 8390641 |
| Everus Construction Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 81190 | &nbsp;&nbsp; 9813435 |
| Granite Construction, Inc. | &nbsp;&nbsp; 69479 | &nbsp;&nbsp; 9342146 |
| MYR Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 24708 | &nbsp;&nbsp; 6670172 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Primoris Services Corp. | &nbsp;&nbsp; 86005 | &nbsp;&nbsp; 12962674 |
| WillScot Holdings Corp. | &nbsp;&nbsp; 289609 | &nbsp;&nbsp; 6258451 |
| Total |  | &nbsp;&nbsp; 53437519 |
| **Electrical Equipment 0.8%** | **Electrical Equipment 0.8%** | **Electrical Equipment 0.8%** |
| Powell Industries, Inc. | &nbsp;&nbsp; 14984 | &nbsp;&nbsp; 7845622 |
| Sunrun, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 369349 | &nbsp;&nbsp; 4893874 |
| Vicor Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 36162 | &nbsp;&nbsp; 7283027 |
| Total |  | &nbsp;&nbsp; 20022523 |
| **Ground Transportation 0.7%** | **Ground Transportation 0.7%** | **Ground Transportation 0.7%** |
| ArcBest Corp. | &nbsp;&nbsp; 35832 | &nbsp;&nbsp; 3678513 |
| Heartland Express, Inc. | &nbsp;&nbsp; 72734 | &nbsp;&nbsp; 802256 |
| Hertz Global Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 198389 | &nbsp;&nbsp; 900686 |
| Marten Transport Ltd. | &nbsp;&nbsp; 92129 | &nbsp;&nbsp; 1252033 |
| RXO, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 261222 | &nbsp;&nbsp; 4169103 |
| Schneider National, Inc., Class B | &nbsp;&nbsp; 79309 | &nbsp;&nbsp; 2250790 |
| Werner Enterprises, Inc. | &nbsp;&nbsp; 95234 | &nbsp;&nbsp; 3341761 |
| Total |  | &nbsp;&nbsp; 16395142 |
| **Machinery 4.5%** | **Machinery 4.5%** | **Machinery 4.5%** |
| Alamo Group, Inc. | &nbsp;&nbsp; 17163 | &nbsp;&nbsp; 3664815 |
| Albany International Corp., Class A | &nbsp;&nbsp; 45683 | &nbsp;&nbsp; 2633625 |
| Astec Industries, Inc. | &nbsp;&nbsp; 36413 | &nbsp;&nbsp; 2260883 |
| Enerpac Tool Group Corp. | &nbsp;&nbsp; 84333 | &nbsp;&nbsp; 3440786 |
| EnPro, Inc. | &nbsp;&nbsp; 33531 | &nbsp;&nbsp; 8672793 |
| ESCO Technologies, Inc. | &nbsp;&nbsp; 41107 | &nbsp;&nbsp; 11398560 |
| Federal Signal Corp. | &nbsp;&nbsp; 96792 | &nbsp;&nbsp; 11269493 |
| Franklin Electric Co., Inc. | &nbsp;&nbsp; 60929 | &nbsp;&nbsp; 6069747 |
| Gates Industrial Corp. PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 411113 | &nbsp;&nbsp; 11334385 |
| Greenbrier Companies, Inc. (The) | &nbsp;&nbsp; 49283 | &nbsp;&nbsp; 2780547 |
| JBT Marel Corp. | &nbsp;&nbsp; 82724 | &nbsp;&nbsp; 12739496 |
| Kadant, Inc. | &nbsp;&nbsp; 18747 | &nbsp;&nbsp; 6358420 |
| Kennametal, Inc. | &nbsp;&nbsp; 121120 | &nbsp;&nbsp; 4878714 |
| Lindsay Corp. | &nbsp;&nbsp; 17197 | &nbsp;&nbsp; 2316436 |
| Mueller Water Products, Inc., Class A | &nbsp;&nbsp; 248837 | &nbsp;&nbsp; 7447691 |
| Proto Labs, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 37691 | &nbsp;&nbsp; 2339857 |
| Standex International Corp. | &nbsp;&nbsp; 19287 | &nbsp;&nbsp; 5053194 |
| Tennant Co. | &nbsp;&nbsp; 28852 | &nbsp;&nbsp; 1760838 |
| Titan International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 76345 | &nbsp;&nbsp; 742837 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Trinity Industries, Inc. | &nbsp;&nbsp; 127627 | &nbsp;&nbsp; 4362291 |
| Worthington Enterprises, Inc. | &nbsp;&nbsp; 49804 | &nbsp;&nbsp; 2789522 |
| Total |  | &nbsp;&nbsp; 114314930 |
| **Marine Transportation 0.3%** | **Marine Transportation 0.3%** | **Marine Transportation 0.3%** |
| Matson, Inc. | &nbsp;&nbsp; 49630 | &nbsp;&nbsp; 8245032 |
| **Passenger Airlines 0.5%** | **Passenger Airlines 0.5%** | **Passenger Airlines 0.5%** |
| Allegiant Travel Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 21419 | &nbsp;&nbsp; 2187951 |
| JetBlue Airways Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 463144 | &nbsp;&nbsp; 2565818 |
| Skywest, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 63836 | &nbsp;&nbsp; 6644051 |
| Sun Country Airlines Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 83908 | &nbsp;&nbsp; 1651309 |
| Total |  | &nbsp;&nbsp; 13049129 |
| **Professional Services 1.3%** | **Professional Services 1.3%** | **Professional Services 1.3%** |
| Amentum Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 244008 | &nbsp;&nbsp; 7288519 |
| CSG Systems International, Inc. | &nbsp;&nbsp; 43238 | &nbsp;&nbsp; 3454716 |
| Insperity, Inc. | &nbsp;&nbsp; 57014 | &nbsp;&nbsp; 1266281 |
| Korn/Ferry International | &nbsp;&nbsp; 83392 | &nbsp;&nbsp; 5226177 |
| Legalzoom.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 183408 | &nbsp;&nbsp; 1289358 |
| ManpowerGroup, Inc. | &nbsp;&nbsp; 73692 | &nbsp;&nbsp; 2061165 |
| Robert Half, Inc. | &nbsp;&nbsp; 158433 | &nbsp;&nbsp; 3868934 |
| Upwork, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 207968 | &nbsp;&nbsp; 2790931 |
| Verra Mobility Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 253983 | &nbsp;&nbsp; 4244056 |
| Total |  | &nbsp;&nbsp; 31490137 |
| **Trading Companies & Distributors 1.1%** | **Trading Companies & Distributors 1.1%** | **Trading Companies & Distributors 1.1%** |
| Air Lease Corp. | &nbsp;&nbsp; 167226 | &nbsp;&nbsp; 10842934 |
| Boise Cascade Co. | &nbsp;&nbsp; 58963 | &nbsp;&nbsp; 4878598 |
| DNOW, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 295524 | &nbsp;&nbsp; 3481273 |
| DXP Enterprises, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 20215 | &nbsp;&nbsp; 2799171 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp; 96529 | &nbsp;&nbsp; 6850663 |
| Total |  | &nbsp;&nbsp; 28852639 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **447073927** |
| **Information Technology 13.1%** | **Information Technology 13.1%** | **Information Technology 13.1%** |
| **Communications Equipment 2.0%** | **Communications Equipment 2.0%** | **Communications Equipment 2.0%** |
| Calix, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 95999 | &nbsp;&nbsp; 4969868 |
| Digi International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 59089 | &nbsp;&nbsp; 2884725 |
| Extreme Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 212843 | &nbsp;&nbsp; 2975545 |
| Harmonic, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 178645 | &nbsp;&nbsp; 1898997 |
| InterDigital, Inc. | &nbsp;&nbsp; 40979 | &nbsp;&nbsp; 15020033 |
| Netscout Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 109168 | &nbsp;&nbsp; 3188797 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Viasat, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 215304 | &nbsp;&nbsp; 9856617 |
| Viavi Solutions, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 355273 | &nbsp;&nbsp; 10555161 |
| Total |  | &nbsp;&nbsp; 51349743 |
| **Electronic Equipment, Instruments & Components 3.5%** | **Electronic Equipment, Instruments & Components 3.5%** | **Electronic Equipment, Instruments & Components 3.5%** |
| Arlo Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 168711 | &nbsp;&nbsp; 2647075 |
| Badger Meter, Inc. | &nbsp;&nbsp; 46908 | &nbsp;&nbsp; 7150186 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp; 56791 | &nbsp;&nbsp; 3283088 |
| CTS Corp. | &nbsp;&nbsp; 46243 | &nbsp;&nbsp; 2435156 |
| ePlus, Inc. | &nbsp;&nbsp; 41691 | &nbsp;&nbsp; 3362796 |
| Insight Enterprises, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 49312 | &nbsp;&nbsp; 4120511 |
| Itron, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 72903 | &nbsp;&nbsp; 6849237 |
| Knowles Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 135539 | &nbsp;&nbsp; 3682595 |
| Mirion Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 394466 | &nbsp;&nbsp; 8524410 |
| OSI Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 25403 | &nbsp;&nbsp; 7244936 |
| PC Connection, Inc. | &nbsp;&nbsp; 18082 | &nbsp;&nbsp; 1102098 |
| Plexus Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 42956 | &nbsp;&nbsp; 8339048 |
| Ralliant Corp. | &nbsp;&nbsp; 179557 | &nbsp;&nbsp; 8239871 |
| Rogers Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 26623 | &nbsp;&nbsp; 2870758 |
| Sanmina Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 86851 | &nbsp;&nbsp; 13484486 |
| Scansource, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 32133 | &nbsp;&nbsp; 1181852 |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp; 196565 | &nbsp;&nbsp; 3679697 |
| Total |  | &nbsp;&nbsp; 88197800 |
| **IT Services 0.4%** | **IT Services 0.4%** | **IT Services 0.4%** |
| DigitalOcean Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 109223 | &nbsp;&nbsp; 6123041 |
| DXC Technology Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 277175 | &nbsp;&nbsp; 3489633 |
| Grid Dynamics Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 105290 | &nbsp;&nbsp; 710708 |
| Total |  | &nbsp;&nbsp; 10323382 |
| **Semiconductors & Semiconductor Equipment 4.4%** | **Semiconductors & Semiconductor Equipment 4.4%** | **Semiconductors & Semiconductor Equipment 4.4%** |
| ACM Research, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 84793 | &nbsp;&nbsp; 4721274 |
| Alpha & Omega Semiconductor Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 39715 | &nbsp;&nbsp; 834412 |
| Axcelis Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 49342 | &nbsp;&nbsp; 4076143 |
| Cohu, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 74323 | &nbsp;&nbsp; 2244555 |
| Diodes, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 73833 | &nbsp;&nbsp; 5037626 |
| Enphase Energy, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 208294 | &nbsp;&nbsp; 8804587 |
| Formfactor, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 123386 | &nbsp;&nbsp; 12200408 |
| Ichor Holdings Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 54730 | &nbsp;&nbsp; 2602411 |
| Impinj, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 42654 | &nbsp;&nbsp; 5231940 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp; 83002 | &nbsp;&nbsp; 5786899 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| MaxLinear, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 130730 | &nbsp;&nbsp; 2278624 |
| PDF Solutions, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 50944 | &nbsp;&nbsp; 1720888 |
| Penguin Solutions, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 76565 | &nbsp;&nbsp; 1591021 |
| Photronics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 93920 | &nbsp;&nbsp; 3515426 |
| Power Integrations, Inc. | &nbsp;&nbsp; 88080 | &nbsp;&nbsp; 4220794 |
| Qorvo, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 133835 | &nbsp;&nbsp; 11094921 |
| Semtech Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 138121 | &nbsp;&nbsp; 12461277 |
| SiTime Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 34898 | &nbsp;&nbsp; 13885216 |
| SolarEdge Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 95186 | &nbsp;&nbsp; 3369584 |
| Ultra Clean Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 72244 | &nbsp;&nbsp; 4383766 |
| Veeco Instruments, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 95763 | &nbsp;&nbsp; 2926517 |
| Total |  | &nbsp;&nbsp; 112988289 |
| **Software 2.8%** | **Software 2.8%** | **Software 2.8%** |
| A10 Networks, Inc. | &nbsp;&nbsp; 114169 | &nbsp;&nbsp; 2198895 |
| ACI Worldwide, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 164089 | &nbsp;&nbsp; 6511051 |
| Adeia, Inc. | &nbsp;&nbsp; 174311 | &nbsp;&nbsp; 3606495 |
| Agilysys, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 40392 | &nbsp;&nbsp; 2915091 |
| Alarm.com Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 79396 | &nbsp;&nbsp; 3799099 |
| Blackline, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 79537 | &nbsp;&nbsp; 2803679 |
| Box, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 230620 | &nbsp;&nbsp; 5431101 |
| CleanSpark, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 447409 | &nbsp;&nbsp; 4451720 |
| Clear Secure, Inc., Class A | &nbsp;&nbsp; 141128 | &nbsp;&nbsp; 6864466 |
| LiveRamp Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 101312 | &nbsp;&nbsp; 2752647 |
| MARA Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 601968 | &nbsp;&nbsp; 5381594 |
| N-Able, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 118635 | &nbsp;&nbsp; 521994 |
| NCR Voyix Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 220452 | &nbsp;&nbsp; 1684253 |
| Progress Software Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 68298 | &nbsp;&nbsp; 2860320 |
| Q2 Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 99531 | &nbsp;&nbsp; 4789432 |
| RingCentral, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 122181 | &nbsp;&nbsp; 4453497 |
| Sprinklr, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 192692 | &nbsp;&nbsp; 1121467 |
| SPS Commerce, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 60023 | &nbsp;&nbsp; 3391900 |
| Teradata Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 148350 | &nbsp;&nbsp; 4671541 |
| Total |  | &nbsp;&nbsp; 70210242 |
| **Technology Hardware, Storage & Peripherals 0.0%** | **Technology Hardware, Storage & Peripherals 0.0%** | **Technology Hardware, Storage & Peripherals 0.0%** |
| Corsair Gaming, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 74641 | &nbsp;&nbsp; 409779 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **333479235** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Materials 5.8%** | **Materials 5.8%** | **Materials 5.8%** |
| **Chemicals 4.2%** | **Chemicals 4.2%** | **Chemicals 4.2%** |
| Balchem Corp. | &nbsp;&nbsp; 51550 | &nbsp;&nbsp; 9352717 |
| Celanese Corp., Class A | &nbsp;&nbsp; 174303 | &nbsp;&nbsp; 8704692 |
| Chemours Co. (The) | &nbsp;&nbsp; 238588 | &nbsp;&nbsp; 4351845 |
| Eastman Chemical Co. | &nbsp;&nbsp; 181569 | &nbsp;&nbsp; 13710275 |
| Element Solutions, Inc. | &nbsp;&nbsp; 362087 | &nbsp;&nbsp; 12705633 |
| FMC Corp. | &nbsp;&nbsp; 198839 | &nbsp;&nbsp; 2930887 |
| Hawkins, Inc. | &nbsp;&nbsp; 33251 | &nbsp;&nbsp; 4957724 |
| HB Fuller Co. | &nbsp;&nbsp; 86095 | &nbsp;&nbsp; 5658163 |
| Ingevity Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 57245 | &nbsp;&nbsp; 4123357 |
| Innospec, Inc. | &nbsp;&nbsp; 39440 | &nbsp;&nbsp; 3020315 |
| Koppers Holdings, Inc. | &nbsp;&nbsp; 31220 | &nbsp;&nbsp; 1180116 |
| Minerals Technologies, Inc. | &nbsp;&nbsp; 49557 | &nbsp;&nbsp; 3499715 |
| Quaker Chemical Corp. | &nbsp;&nbsp; 21805 | &nbsp;&nbsp; 3205989 |
| Sensient Technologies Corp. | &nbsp;&nbsp; 67620 | &nbsp;&nbsp; 6865459 |
| Solstice Advanced Materials, Inc. | &nbsp;&nbsp; 252651 | &nbsp;&nbsp; 19835630 |
| Stepan Co. | &nbsp;&nbsp; 34203 | &nbsp;&nbsp; 1740591 |
| Total |  | &nbsp;&nbsp; 105843108 |
| **Containers & Packaging 0.5%** | **Containers & Packaging 0.5%** | **Containers & Packaging 0.5%** |
| O-I Glass, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 244483 | &nbsp;&nbsp; 3276072 |
| Sealed Air Corp. | &nbsp;&nbsp; 234181 | &nbsp;&nbsp; 9807501 |
| Total |  | &nbsp;&nbsp; 13083573 |
| **Metals & Mining 1.0%** | **Metals & Mining 1.0%** | **Metals & Mining 1.0%** |
| Alpha Metallurgical Resources, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 17192 | &nbsp;&nbsp; 2796279 |
| Century Aluminum Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 84688 | &nbsp;&nbsp; 4366513 |
| Kaiser Aluminum Corp. | &nbsp;&nbsp; 25555 | &nbsp;&nbsp; 3325728 |
| Materion Corp. | &nbsp;&nbsp; 33001 | &nbsp;&nbsp; 5381143 |
| Metallus, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 57013 | &nbsp;&nbsp; 969221 |
| SunCoke Energy, Inc. | &nbsp;&nbsp; 134765 | &nbsp;&nbsp; 768161 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp; 83677 | &nbsp;&nbsp; 6965273 |
| Worthington Steel, Inc. | &nbsp;&nbsp; 51784 | &nbsp;&nbsp; 2152143 |
| Total |  | &nbsp;&nbsp; 26724461 |
| **Paper & Forest Products 0.1%** | **Paper & Forest Products 0.1%** | **Paper & Forest Products 0.1%** |
| Sylvamo Corp. | &nbsp;&nbsp; 52731 | &nbsp;&nbsp; 2441445 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **148092587** |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Real Estate 7.0%** | **Real Estate 7.0%** | **Real Estate 7.0%** |
| **Diversified REITs 0.7%** | **Diversified REITs 0.7%** | **Diversified REITs 0.7%** |
| Alexander & Baldwin, Inc. | &nbsp;&nbsp; 115811 | &nbsp;&nbsp; 2407711 |
| American Assets Trust, Inc. | &nbsp;&nbsp; 75171 | &nbsp;&nbsp; 1467338 |
| Armada Hoffler Properties, Inc. | &nbsp;&nbsp; 127584 | &nbsp;&nbsp; 797400 |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp; 315393 | &nbsp;&nbsp; 10704438 |
| Global Net Lease, Inc. | &nbsp;&nbsp; 313820 | &nbsp;&nbsp; 2956184 |
| Total |  | &nbsp;&nbsp; 18333071 |
| **Health Care REITs 0.9%** | **Health Care REITs 0.9%** | **Health Care REITs 0.9%** |
| CareTrust REIT, Inc. | &nbsp;&nbsp; 355434 | &nbsp;&nbsp; 14437729 |
| LTC Properties, Inc. | &nbsp;&nbsp; 75789 | &nbsp;&nbsp; 3007307 |
| Medical Properties Trust, Inc. | &nbsp;&nbsp; 785091 | &nbsp;&nbsp; 4522124 |
| Universal Health Realty Income Trust | &nbsp;&nbsp; 20317 | &nbsp;&nbsp; 886228 |
| Total |  | &nbsp;&nbsp; 22853388 |
| **Hotel & Resort REITs 1.0%** | **Hotel & Resort REITs 1.0%** | **Hotel & Resort REITs 1.0%** |
| Apple Hospitality REIT, Inc. | &nbsp;&nbsp; 350204 | &nbsp;&nbsp; 4293501 |
| DiamondRock Hospitality Co. | &nbsp;&nbsp; 324240 | &nbsp;&nbsp; 3255370 |
| Pebblebrook Hotel Trust | &nbsp;&nbsp; 180815 | &nbsp;&nbsp; 2319856 |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp; 100286 | &nbsp;&nbsp; 9903242 |
| Summit Hotel Properties, Inc. | &nbsp;&nbsp; 168568 | &nbsp;&nbsp; 760242 |
| Sunstone Hotel Investors, Inc. | &nbsp;&nbsp; 302273 | &nbsp;&nbsp; 2805093 |
| Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp; 150906 | &nbsp;&nbsp; 2305844 |
| Total |  | &nbsp;&nbsp; 25643148 |
| **Industrial REITs 0.7%** | **Industrial REITs 0.7%** | **Industrial REITs 0.7%** |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp; 44605 | &nbsp;&nbsp; 2362281 |
| LXP Industrial Trust | &nbsp;&nbsp; 94165 | &nbsp;&nbsp; 4666817 |
| Terreno Realty Corp. | &nbsp;&nbsp; 164577 | &nbsp;&nbsp; 10871957 |
| Total |  | &nbsp;&nbsp; 17901055 |
| **Office REITs 0.6%** | **Office REITs 0.6%** | **Office REITs 0.6%** |
| Douglas Emmett, Inc. | &nbsp;&nbsp; 266556 | &nbsp;&nbsp; 2636239 |
| Easterly Government Properties, Inc. | &nbsp;&nbsp; 69653 | &nbsp;&nbsp; 1621522 |
| Highwoods Properties, Inc. | &nbsp;&nbsp; 174922 | &nbsp;&nbsp; 3933996 |
| JBG SMITH Properties | &nbsp;&nbsp; 94201 | &nbsp;&nbsp; 1432797 |
| SL Green Realty Corp. | &nbsp;&nbsp; 113054 | &nbsp;&nbsp; 4166040 |
| Total |  | &nbsp;&nbsp; 13790594 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Real Estate Management & Development 0.5%** | **Real Estate Management & Development 0.5%** | **Real Estate Management & Development 0.5%** |
| Cushman & Wakefield Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 368654 | &nbsp;&nbsp; 4943650 |
| eXp World Holdings, Inc. | &nbsp;&nbsp; 144111 | &nbsp;&nbsp; 1004454 |
| Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp; 190971 | &nbsp;&nbsp; 2077764 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp; 38398 | &nbsp;&nbsp; 1014091 |
| St. Joe Co. (The) | &nbsp;&nbsp; 63421 | &nbsp;&nbsp; 4577094 |
| Total |  | &nbsp;&nbsp; 13617053 |
| **Residential REITs 0.2%** | **Residential REITs 0.2%** | **Residential REITs 0.2%** |
| Centerspace | &nbsp;&nbsp; 26587 | &nbsp;&nbsp; 1672322 |
| NexPoint Residential Trust, Inc. | &nbsp;&nbsp; 34721 | &nbsp;&nbsp; 978785 |
| Veris Residential, Inc. | &nbsp;&nbsp; 129284 | &nbsp;&nbsp; 2437004 |
| Total |  | &nbsp;&nbsp; 5088111 |
| **Retail REITs 1.6%** | **Retail REITs 1.6%** | **Retail REITs 1.6%** |
| Acadia Realty Trust | &nbsp;&nbsp; 208572 | &nbsp;&nbsp; 4363326 |
| Curbline Properties Corp. | &nbsp;&nbsp; 154299 | &nbsp;&nbsp; 4291055 |
| Getty Realty Corp. | &nbsp;&nbsp; 84558 | &nbsp;&nbsp; 2775194 |
| Macerich Co. (The) | &nbsp;&nbsp; 407672 | &nbsp;&nbsp; 8345046 |
| Phillips Edison & Co., Inc. | &nbsp;&nbsp; 200240 | &nbsp;&nbsp; 7865427 |
| Saul Centers, Inc. | &nbsp;&nbsp; 19819 | &nbsp;&nbsp; 675432 |
| Tanger, Inc. | &nbsp;&nbsp; 183224 | &nbsp;&nbsp; 6790281 |
| Urban Edge Properties | &nbsp;&nbsp; 200326 | &nbsp;&nbsp; 4256928 |
| Whitestone REIT | &nbsp;&nbsp; 71465 | &nbsp;&nbsp; 1085553 |
| Total |  | &nbsp;&nbsp; 40448242 |
| **Specialized REITs 0.8%** | **Specialized REITs 0.8%** | **Specialized REITs 0.8%** |
| Four Corners Property Trust, Inc. | &nbsp;&nbsp; 168853 | &nbsp;&nbsp; 4309129 |
| Millrose Properties, Inc. | &nbsp;&nbsp; 245420 | &nbsp;&nbsp; 7696371 |
| Outfront Media, Inc. | &nbsp;&nbsp; 231588 | &nbsp;&nbsp; 6672050 |
| Safehold, Inc. | &nbsp;&nbsp; 73098 | &nbsp;&nbsp; 1179802 |
| Total |  | &nbsp;&nbsp; 19857352 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **177532014** |
| **Utilities 2.2%** | **Utilities 2.2%** | **Utilities 2.2%** |
| **Electric Utilities 0.6%** | **Electric Utilities 0.6%** | **Electric Utilities 0.6%** |
| Hawaiian Electric Industries, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 274765 | &nbsp;&nbsp; 4256110 |
| MGE Energy, Inc. | &nbsp;&nbsp; 58165 | &nbsp;&nbsp; 4770693 |
| Otter Tail Corp. | &nbsp;&nbsp; 66703 | &nbsp;&nbsp; 5676425 |
| Total |  | &nbsp;&nbsp; 14703228 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Gas Utilities 0.6%** | **Gas Utilities 0.6%** | **Gas Utilities 0.6%** |
| Chesapeake Utilities Corp. | &nbsp;&nbsp; 37646 | &nbsp;&nbsp; 5118727 |
| MDU Resources Group, Inc. | &nbsp;&nbsp; 325240 | &nbsp;&nbsp; 6725963 |
| Northwest Natural Holding Co. | &nbsp;&nbsp; 66069 | &nbsp;&nbsp; 3504300 |
| Total |  | &nbsp;&nbsp; 15348990 |
| **Independent Power and Renewable Electricity Producers 0.3%** | **Independent Power and Renewable Electricity Producers 0.3%** | **Independent Power and Renewable Electricity Producers 0.3%** |
| Clearway Energy, Inc., Class A | &nbsp;&nbsp; 55087 | &nbsp;&nbsp; 1984234 |
| Clearway Energy, Inc., Class C | &nbsp;&nbsp; 135060 | &nbsp;&nbsp; 5174148 |
| Total |  | &nbsp;&nbsp; 7158382 |
| **Multi-Utilities 0.2%** | **Multi-Utilities 0.2%** | **Multi-Utilities 0.2%** |
| Avista Corp. | &nbsp;&nbsp; 129522 | &nbsp;&nbsp; 5261184 |
| Unitil Corp. | &nbsp;&nbsp; 28517 | &nbsp;&nbsp; 1491724 |
| Total |  | &nbsp;&nbsp; 6752908 |
| **Water Utilities 0.5%** | **Water Utilities 0.5%** | **Water Utilities 0.5%** |
| American States Water Co. | &nbsp;&nbsp; 61623 | &nbsp;&nbsp; 4592762 |
| California Water Service Group | &nbsp;&nbsp; 94853 | &nbsp;&nbsp; 4275973 |
| H2O America | &nbsp;&nbsp; 53003 | &nbsp;&nbsp; 2851032 |
| Middlesex Water Co. | &nbsp;&nbsp; 29189 | &nbsp;&nbsp; 1576206 |
| Total |  | &nbsp;&nbsp; 13295973 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **57259481** |
| Total Common Stocks <br>(Cost $1,699,443,996) | Total Common Stocks <br>(Cost $1,699,443,996) | &nbsp;&nbsp; **2508061200** |

---

---

| | | |
|:---|:---|:---|
| **Exchange-Traded Equity Funds 0.7%** | **Exchange-Traded Equity Funds 0.7%** | **Exchange-Traded Equity Funds 0.7%** |
|  | **Shares** | **Value ($)** |
| **U.S. Small Cap 0.7%** | **U.S. Small Cap 0.7%** | **U.S. Small Cap 0.7%** |
| iShares Core S&P Small-Cap ETF | &nbsp;&nbsp; 132533 | &nbsp;&nbsp; 17189530 |
| Total Exchange-Traded Equity Funds <br>(Cost $12,206,754) | Total Exchange-Traded Equity Funds <br>(Cost $12,206,754) | &nbsp;&nbsp; **17189530** |
| **Rights —%** | **Rights —%** | **Rights —%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Health Care —%** | **Health Care —%** | **Health Care —%** |
| **Life Sciences Tools & Services —%** | **Life Sciences Tools & Services —%** | **Life Sciences Tools & Services —%** |
| OmniAb Operations, Inc.<sup>(a),(b),(c),(d)</sup> <br>| &nbsp;&nbsp; 23460 | &nbsp;&nbsp; 0 |
| OmniAb, Inc.<sup>(a),(b),(c),(d)</sup> <br>| &nbsp;&nbsp; 23460 | &nbsp;&nbsp; 0 |
| Total |  | &nbsp;&nbsp; 0 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **0** |
| Total Rights <br>(Cost $—) | Total Rights <br>(Cost $—) | &nbsp;&nbsp; **0** |
| **Money Market Funds 0.9%** | **Money Market Funds 0.9%** | **Money Market Funds 0.9%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(e),(f)</sup> <br>| &nbsp;&nbsp; 23667300 | &nbsp;&nbsp; 23662566 |
| Total Money Market Funds <br>(Cost $23,660,088) | Total Money Market Funds <br>(Cost $23,660,088) | &nbsp;&nbsp; **23662566** |
| **Total Investments in Securities** <br>**(Cost: $1,735,310,838)** | **Total Investments in Securities** <br>**(Cost: $1,735,310,838)** | &nbsp;&nbsp; **2548913296** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(1805757)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **2547107539** |

---

At February 28, 2026, securities and/or cash totaling $2,329,138 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>|
| Russell 2000 Index E-mini | 189 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 24897915 | &nbsp;&nbsp;&nbsp;&nbsp; 741788 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At February 28, 2026, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 February 28, 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 ($)** | **Value ($)** |
| OmniAb Operations, Inc. | 09/03/2021 | &nbsp;&nbsp; 23460 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| OmniAb, Inc. | 09/03/2021 | &nbsp;&nbsp; 23460 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(e) The rate shown is the seven-day current annualized yield at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(f) 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 year ended February 28, 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, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 32897752 | &nbsp;&nbsp; 594544424 | &nbsp;&nbsp; (603777616)<br>| &nbsp;&nbsp; (1994)<br>| &nbsp;&nbsp; 23662566 | &nbsp;&nbsp; (449)<br>| &nbsp;&nbsp; 1113239 | &nbsp;&nbsp; 23667300 |

---

**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.

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

Columbia Small Cap Index Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

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 February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 76621181 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 76621181 |
| Consumer Discretionary | 352589112 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 352589112 |
| Consumer Staples | 63432561 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 63432561 |
| Energy | 138858636 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 138858636 |
| Financials | 440058427 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 440058427 |
| Health Care | 273064039 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 273064039 |
| Industrials | 447073927 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 447073927 |
| Information Technology | 333479235 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 333479235 |
| Materials | 148092587 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 148092587 |
| Real Estate | 177532014 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 177532014 |
| Utilities | 57259481 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 57259481 |
| Total Common Stocks | 2508061200 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2508061200 |
| Exchange-Traded Equity Funds | 17189530 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17189530 |
| Rights |  |  |  |  |
| Health Care |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>|
| Total Rights |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>|
| Money Market Funds | 23662566 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23662566 |
| Total Investments in Securities | 2548913296 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2548913296 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Futures Contracts | 741788 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 741788 |
| Total | 2549655084 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2549655084 |

---

&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.

Derivative instruments 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 Small Cap Index Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $1,711,650,750) | $2525250730 |
| Affiliated issuers (cost $23,660,088) | 23662566 |
| Margin deposits on: |  |
| Futures contracts | 2329138 |
| Receivable for: |  |
| Capital shares sold | 1120133 |
| Dividends | 1587744 |
| Variation margin for futures contracts | 4853 |
| Expense reimbursement due from Investment Manager | 101 |
| Total assets | 2553955265 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 5919338 |
| Variation margin for futures contracts | 502852 |
| Management services fees | 14181 |
| Distribution and/or service fees | 4688 |
| Compensation of board members | 4105 |
| Deferred compensation of board members | 402562 |
| Total liabilities | 6847726 |
| **Net assets applicable to outstanding capital stock** | **$2547107539** |
| **Represented by** |  |
| Paid in capital | 1584561680 |
| Total distributable earnings (loss) | 962545859 |
| **Total - representing net assets applicable to outstanding capital stock** | **$2547107539** |
| **Class A** |  |
| Net assets | $674500660 |
| Shares outstanding | 29371386 |
| Net asset value per share | $22.96 |
| **Institutional Class** |  |
| Net assets | $1050951906 |
| Shares outstanding | 45093642 |
| Net asset value per share | $23.31 |
| **Institutional 2 Class** |  |
| Net assets | $558860435 |
| Shares outstanding | 22996063 |
| Net asset value per share | $24.30 |
| **Institutional 3 Class** |  |
| Net assets | $262794538 |
| Shares outstanding | 11831786 |
| Net asset value per share | $22.21 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $36022319 |
| Dividends — affiliated issuers | 1113239 |
| Interest | 482880 |
| Interfund lending | 506 |
| Foreign taxes withheld | (48771)<br>|
| Total income | 37570173 |
| Expenses: |  |
| Management services fees | 5098990 |
| Distribution and/or service fees |  |
| Class A | 1663040 |
| Interest on interfund lending | 309 |
| Compensation of board members | 37152 |
| Deferred compensation of board members | 65757 |
| Total expenses | 6865248 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (102908)<br>|
| Expense reduction | (800)<br>|
| Total net expenses | 6761540 |
| **Net investment income** | 30808633 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 345881157 |
| Investments — affiliated issuers | (449)<br>|
| Foreign currency translations | 11937 |
| Futures contracts | 4844124 |
| Net realized gain | 350736769 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 27945121 |
| Investments — affiliated issuers | (1994)<br>|
| Futures contracts | 1780867 |
| Net change in unrealized appreciation (depreciation) | 29723994 |
| Net realized and unrealized gain | 380460763 |
| **Net increase in net assets resulting from operations** | **$411269396** |

---

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

Columbia Small Cap Index Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $30808633 | &nbsp;&nbsp; $37604146 |
| Net realized gain | 350736769 | &nbsp;&nbsp; 425818925 |
| Net change in unrealized appreciation (depreciation) | 29723994 | &nbsp;&nbsp; (252054875)<br>|
| Net increase in net assets resulting from operations | 411269396 | &nbsp;&nbsp; 211368196 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (76203165)<br>| &nbsp;&nbsp; (113831780)<br>|
| Institutional Class | (118598367)<br>| &nbsp;&nbsp; (161912090)<br>|
| Institutional 2 Class | (63359440)<br>| &nbsp;&nbsp; (106982516)<br>|
| Institutional 3 Class | (32065383)<br>| &nbsp;&nbsp; (49824594)<br>|
| Total distributions to shareholders | (290226355)<br>| &nbsp;&nbsp; (432550980)<br>|
| Decrease in net assets from capital stock activity | (319034419)<br>| &nbsp;&nbsp; (287901938)<br>|
| Total decrease in net assets | (197991378)<br>| &nbsp;&nbsp; (509084722)<br>|
| Net assets at beginning of year | 2745098917 | &nbsp;&nbsp; 3254183639 |
| **Net assets at end of year** | **$2547107539** | &nbsp;&nbsp; **$2745098917** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 3441134 | &nbsp;&nbsp;&nbsp;&nbsp; 73493780 | &nbsp;&nbsp;&nbsp;&nbsp; 4373933 | &nbsp;&nbsp;&nbsp;&nbsp; 105633411 |
| Distributions reinvested | 3056047 | &nbsp;&nbsp;&nbsp;&nbsp; 64871532 | &nbsp;&nbsp;&nbsp;&nbsp; 4061975 | &nbsp;&nbsp;&nbsp;&nbsp; 96752069 |
| Shares redeemed | (10281174)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (221973112)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9682743)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (233946715)<br>|
| Net decrease | (3783993)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (83607800)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1246835)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (31561235)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 5265161 | &nbsp;&nbsp;&nbsp;&nbsp; 113466411 | &nbsp;&nbsp;&nbsp;&nbsp; 4791587 | &nbsp;&nbsp;&nbsp;&nbsp; 116282015 |
| Distributions reinvested | 5148330 | &nbsp;&nbsp;&nbsp;&nbsp; 110899267 | &nbsp;&nbsp;&nbsp;&nbsp; 6252570 | &nbsp;&nbsp;&nbsp;&nbsp; 150792792 |
| Shares redeemed | (13471417)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (297010631)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8630977)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (210915541)<br>|
| Net increase (decrease) | (3057926)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (72644953)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2413180 | &nbsp;&nbsp;&nbsp;&nbsp; 56159266 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 5787511 | &nbsp;&nbsp;&nbsp;&nbsp; 130124820 | &nbsp;&nbsp;&nbsp;&nbsp; 5397095 | &nbsp;&nbsp;&nbsp;&nbsp; 135645737 |
| Distributions reinvested | 2570200 | &nbsp;&nbsp;&nbsp;&nbsp; 57539963 | &nbsp;&nbsp;&nbsp;&nbsp; 3935102 | &nbsp;&nbsp;&nbsp;&nbsp; 97856730 |
| Shares redeemed | (13441883)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (308569643)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (20948720)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (538287467)<br>|
| Net decrease | (5084172)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (120904860)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (11616523)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (304785000)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 4022276 | &nbsp;&nbsp;&nbsp;&nbsp; 80216914 | &nbsp;&nbsp;&nbsp;&nbsp; 5327997 | &nbsp;&nbsp;&nbsp;&nbsp; 122808364 |
| Distributions reinvested | 575821 | &nbsp;&nbsp;&nbsp;&nbsp; 11865543 | &nbsp;&nbsp;&nbsp;&nbsp; 816008 | &nbsp;&nbsp;&nbsp;&nbsp; 18819611 |
| Shares redeemed | (6644865)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (133959263)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6287355)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (149342944)<br>|
| Net decrease | (2046768)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (41876806)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (143350)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7714969)<br>|
| **Total net decrease** | **(13972859)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(319034419)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(10593528)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(287901938)**<br>|

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

Columbia Small Cap Index Fund \| 2026

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Columbia Small Cap Index Fund \| 2026

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Financial Highlights

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

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | $21.98 | 0.22 | 3.33 | 3.55 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (2.33)<br>| &nbsp;&nbsp; (2.57)<br>|
| Year Ended 2/28/2025 | $23.97 | 0.25 | 1.32 | 1.57 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (3.27)<br>| &nbsp;&nbsp; (3.56)<br>|
| Year Ended 2/29/2024 | $23.91 | 0.28 | 1.05 | 1.33 | &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.27)<br>|
| Year Ended 2/28/2023 | $27.52 | 0.26 | &nbsp;&nbsp; (1.51)<br>| &nbsp;&nbsp; (1.25)<br>| &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp; (2.36)<br>|
| Year Ended 2/28/2022 | $28.74 | 0.25 | 0.90 | 1.15 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (2.10)<br>| &nbsp;&nbsp; (2.37)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $22.26 | 0.28 | 3.39 | 3.67 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (2.33)<br>| &nbsp;&nbsp; (2.62)<br>|
| Year Ended 2/28/2025 | $24.23 | 0.31 | 1.35 | 1.66 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (3.27)<br>| &nbsp;&nbsp; (3.63)<br>|
| Year Ended 2/29/2024 | $24.15 | 0.34 | 1.07 | 1.41 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.33)<br>|
| Year Ended 2/28/2023 | $27.77 | 0.32 | &nbsp;&nbsp; (1.53)<br>| &nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp; (2.41)<br>|
| Year Ended 2/28/2022 | $28.96 | 0.33 | 0.91 | 1.24 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (2.10)<br>| &nbsp;&nbsp; (2.43)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | $23.10 | 0.29 | 3.53 | 3.82 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (2.33)<br>| &nbsp;&nbsp; (2.62)<br>|
| Year Ended 2/28/2025 | $25.03 | 0.32 | 1.38 | 1.70 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (3.27)<br>| &nbsp;&nbsp; (3.63)<br>|
| Year Ended 2/29/2024 | $24.90 | 0.35 | 1.11 | 1.46 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.33)<br>|
| Year Ended 2/28/2023 | $28.55 | 0.33 | &nbsp;&nbsp; (1.57)<br>| &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp; (2.41)<br>|
| Year Ended 2/28/2022 | $29.71 | 0.34 | 0.93 | 1.27 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (2.10)<br>| &nbsp;&nbsp; (2.43)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | $21.33 | 0.27 | 3.23 | 3.50 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (2.33)<br>| &nbsp;&nbsp; (2.62)<br>|
| Year Ended 2/28/2025 | $23.35 | 0.30 | 1.31 | 1.61 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (3.27)<br>| &nbsp;&nbsp; (3.63)<br>|
| Year Ended 2/29/2024 | $23.33 | 0.33 | 1.02 | 1.35 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.33)<br>|
| Year Ended 2/28/2023 | $26.91 | 0.33 | &nbsp;&nbsp; (1.50)<br>| &nbsp;&nbsp; (1.17)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp; (2.41)<br>|
| Year Ended 2/28/2022 | $28.13 | 0.32 | 0.89 | 1.21 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (2.10)<br>| &nbsp;&nbsp; (2.43)<br>|

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

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

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

Columbia Small Cap Index Fund \| 2026

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Financial Highlights (continued)

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $22.96 | &nbsp;&nbsp;&nbsp;&nbsp; 17.44%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.03% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $674501 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $21.98 | &nbsp;&nbsp;&nbsp;&nbsp; 5.81%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.02% | &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $728698 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $23.97 | &nbsp;&nbsp;&nbsp;&nbsp; 6.02%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.25% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $824702 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $23.91 | &nbsp;&nbsp;&nbsp;&nbsp; (3.93%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.06% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $913784 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $27.52 | &nbsp;&nbsp;&nbsp;&nbsp; 3.62%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $1070943 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $23.31 | &nbsp;&nbsp;&nbsp;&nbsp; 17.77%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.27% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $1050952 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $22.26 | &nbsp;&nbsp;&nbsp;&nbsp; 6.09%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.26% | &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $1071688 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $24.23 | &nbsp;&nbsp;&nbsp;&nbsp; 6.30%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.50% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $1108362 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $24.15 | &nbsp;&nbsp;&nbsp;&nbsp; (3.72%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.29% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $1226987 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $27.77 | &nbsp;&nbsp;&nbsp;&nbsp; 3.92%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $1763233 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $24.30 | &nbsp;&nbsp;&nbsp;&nbsp; 17.77%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.27% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $558860 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $23.10 | &nbsp;&nbsp;&nbsp;&nbsp; 6.05%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.27% | &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $648734 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $25.03 | &nbsp;&nbsp;&nbsp;&nbsp; 6.31%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.49% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $993642 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $24.90 | &nbsp;&nbsp;&nbsp;&nbsp; (3.73%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.31% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $1045399 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $28.55 | &nbsp;&nbsp;&nbsp;&nbsp; 3.92%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $1199980 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $22.21 | &nbsp;&nbsp;&nbsp;&nbsp; 17.75%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.27% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $262795 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $21.33 | &nbsp;&nbsp;&nbsp;&nbsp; 6.10%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.27% | &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $295979 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $23.35 | &nbsp;&nbsp;&nbsp;&nbsp; 6.26%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.50% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $327477 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $23.33 | &nbsp;&nbsp;&nbsp;&nbsp; (3.69%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.41% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $308297 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $26.91 | &nbsp;&nbsp;&nbsp;&nbsp; 3.93%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.20% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $90933 |

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

Columbia Small Cap Index Fund \| 2026

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Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Small Cap Index Fund (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory 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**

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 Small Cap Index Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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.

**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

Columbia Small Cap Index Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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 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.

Columbia Small Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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.

**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 February 28, 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; 741,788<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 year ended February 28, 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>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 4844124 |
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 1780867 |

---

Columbia Small Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

The following table is a summary of the average daily outstanding volume by derivative instrument for the year ended February 28, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 36200128 |

---

**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.

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.

Columbia Small Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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 and paid semi-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 0.20% of the Fund's daily net assets.

The Investment Manager, from the management services fee it receives from the Fund, pays all operating expenses of the Fund, with the exception of brokerage fees and commissions, taxes, interest, fees and expenses of Board of Trustees who are not officers, directors or employees of the Investment Manager or its affiliates, distribution and/or shareholder servicing and any extraordinary non-recurring expenses that may arise, including litigation fees.

**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. 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. The expenses of the Chief Compliance Officer allocated to the Fund are payable by the Investment Manager.

Columbia Small Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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 agency fees are payable by the Investment Manager. 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. The Transfer Agent also receives compensation from the Investment Manager for various shareholder services and reimbursements for certain out-of-pocket expenses.

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $800.

**Distribution and service fees**

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

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

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

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, 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>**June 30, 2026 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| 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;0.20 |

---

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

Columbia Small Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, derivative investments, trustees' deferred compensation, foreign currency transactions and earnings and profits distributed to shareholders on the redemption of shares. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Undistributed net** <br>**investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<br>|
| 11937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22432937)<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; 22421000 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 69192570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221033785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290226355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44250590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 388300390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432550980 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 68627391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100003315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794317715 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 1755337369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1034601219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (240283504)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794317715 |

---

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.

Columbia Small Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $548,473,253 and $1,089,241,535, respectively, for the year ended February 28, 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 year ended February 28, 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>|
| Borrower | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;4.46 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| Lender | 3700000 | &nbsp;&nbsp;&nbsp;&nbsp;4.92 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |

---

Interest income earned and interest expense incurred by the Fund are recorded as Interfund lending and Interest on interfund lending, respectively, in the Statement of Operations. The Fund had no outstanding interfund loans at February 28, 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

Columbia Small Cap Index Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 year ended February 28, 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.

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 Small Cap Index Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Small Cap Index Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Small Cap Index Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2026 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the five years in the period ended February 28, 2026 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and broker. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Small Cap Index Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | | | |
|:---|:---|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dividends** <br>**received** <br>**deduction**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Section** <br>**199A** <br>**dividends**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital** <br>**gain** <br>**dividend**<br>|
| 26.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25.15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $262432924 |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.

Section 199A dividends. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents Section 199A dividends potentially eligible for a 20% deduction.

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Columbia Small Cap Index 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 Small Cap Index Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382img7b1a10e42.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/

ANN228_02_T01_(04/26)

------

![](g250382img3259cdb11.jpg)

Columbia Small Cap Value and Inflection Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_ea5d2c38-0919-4722-bc58-49560bdd2bcc_POI-CommonContent-Date-136_1) | 3 |
| [Statement of Assets and Liabilities](#xx_ea5d2c38-0919-4722-bc58-49560bdd2bcc_FS-CommonContent-Date-136_1) | 8 |
| [Statement of Operations](#xx_ea5d2c38-0919-4722-bc58-49560bdd2bcc_FS-CommonContent-Date-136_2) | 9 |
| [Statement of Changes in Net Assets](#xx_ea5d2c38-0919-4722-bc58-49560bdd2bcc_FS-CommonContent-Date-136_3) | 10 |
| [Financial Highlights](#xx_ea5d2c38-0919-4722-bc58-49560bdd2bcc_FIHI-CommonContent-Date-136_1) | 12 |
| [Notes to Financial Statements](#xx_ea5d2c38-0919-4722-bc58-49560bdd2bcc_NTF-CommonContent-Date-136_1) | 16 |
| [Report of Independent Registered Public Accounting Firm](#xx_ea5d2c38-0919-4722-bc58-49560bdd2bcc_AUD-CommonContent-Date-136_1) | 25 |
| [Federal Income Tax Information](#xx_ea5d2c38-0919-4722-bc58-49560bdd2bcc_CCH-CommonContent-Date-136_1) | 26 |

---

Columbia Small Cap Value and Inflection Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | |
|:---|:---|:---|
| **Common Stocks 99.1%** | **Common Stocks 99.1%** | **Common Stocks 99.1%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 0.9%** | **Communication Services 0.9%** | **Communication Services 0.9%** |
| **Entertainment 0.9%** | **Entertainment 0.9%** | **Entertainment 0.9%** |
| Lionsgate Studios Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 824940 | &nbsp;&nbsp; 7424460 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **7424460** |
| **Consumer Discretionary 12.1%** | **Consumer Discretionary 12.1%** | **Consumer Discretionary 12.1%** |
| **Automobile Components 1.1%** | **Automobile Components 1.1%** | **Automobile Components 1.1%** |
| Patrick Industries, Inc. | &nbsp;&nbsp; 71418 | &nbsp;&nbsp; 8840834 |
| **Broadline Retail 0.5%** | **Broadline Retail 0.5%** | **Broadline Retail 0.5%** |
| Savers Value Village, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 450070 | &nbsp;&nbsp; 4244160 |
| **Distributors 0.6%** | **Distributors 0.6%** | **Distributors 0.6%** |
| Gold.com, Inc. | &nbsp;&nbsp; 84930 | &nbsp;&nbsp; 4880927 |
| **Diversified Consumer Services 1.3%** | **Diversified Consumer Services 1.3%** | **Diversified Consumer Services 1.3%** |
| Laureate Education, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 331022 | &nbsp;&nbsp; 10705252 |
| **Hotels, Restaurants & Leisure 0.4%** | **Hotels, Restaurants & Leisure 0.4%** | **Hotels, Restaurants & Leisure 0.4%** |
| Caesars Entertainment, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 122696 | &nbsp;&nbsp; 3073535 |
| **Household Durables 1.5%** | **Household Durables 1.5%** | **Household Durables 1.5%** |
| Taylor Morrison Home Corp., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 189908 | &nbsp;&nbsp; 12513038 |
| **Leisure Products 2.5%** | **Leisure Products 2.5%** | **Leisure Products 2.5%** |
| Callaway Golf Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 548180 | &nbsp;&nbsp; 7707411 |
| Polaris, Inc. | &nbsp;&nbsp; 218020 | &nbsp;&nbsp; 13242535 |
| Total |  | &nbsp;&nbsp; 20949946 |
| **Specialty Retail 2.6%** | **Specialty Retail 2.6%** | **Specialty Retail 2.6%** |
| National Vision Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 288260 | &nbsp;&nbsp; 7774372 |
| Urban Outfitters, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 89860 | &nbsp;&nbsp; 5948732 |
| Victoria's Secret & Co.<sup>(a)</sup> <br>| &nbsp;&nbsp; 127280 | &nbsp;&nbsp; 7980456 |
| Total |  | &nbsp;&nbsp; 21703560 |
| **Textiles, Apparel & Luxury Goods 1.6%** | **Textiles, Apparel & Luxury Goods 1.6%** | **Textiles, Apparel & Luxury Goods 1.6%** |
| Carter's, Inc. | &nbsp;&nbsp; 110850 | &nbsp;&nbsp; 3719017 |
| Kontoor Brands, Inc. | &nbsp;&nbsp; 145975 | &nbsp;&nbsp; 9519030 |
| Total |  | &nbsp;&nbsp; 13238047 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **100149299** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Staples 4.1%** | **Consumer Staples 4.1%** | **Consumer Staples 4.1%** |
| **Food Products 2.0%** | **Food Products 2.0%** | **Food Products 2.0%** |
| Darling Ingredients, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 201190 | &nbsp;&nbsp; 10695260 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp; 137894 | &nbsp;&nbsp; 5919790 |
| Total |  | &nbsp;&nbsp; 16615050 |
| **Household Products 2.1%** | **Household Products 2.1%** | **Household Products 2.1%** |
| Central Garden & Pet Co., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 225259 | &nbsp;&nbsp; 7780446 |
| Reynolds Consumer Products, Inc. | &nbsp;&nbsp; 391961 | &nbsp;&nbsp; 9724552 |
| Total |  | &nbsp;&nbsp; 17504998 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **34120048** |
| **Energy 9.3%** | **Energy 9.3%** | **Energy 9.3%** |
| **Energy Equipment & Services 2.2%** | **Energy Equipment & Services 2.2%** | **Energy Equipment & Services 2.2%** |
| Kodiak Gas Services, Inc. | &nbsp;&nbsp; 159698 | &nbsp;&nbsp; 8714720 |
| Solaris Energy Infrastructure, Inc., Class A | &nbsp;&nbsp; 199520 | &nbsp;&nbsp; 9902178 |
| Total |  | &nbsp;&nbsp; 18616898 |
| **Oil, Gas & Consumable Fuels 7.1%** | **Oil, Gas & Consumable Fuels 7.1%** | **Oil, Gas & Consumable Fuels 7.1%** |
| California Resources Corp. | &nbsp;&nbsp; 248660 | &nbsp;&nbsp; 14631154 |
| Dorian LPG Ltd. | &nbsp;&nbsp; 140490 | &nbsp;&nbsp; 5196725 |
| Gulfport Energy Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 50854 | &nbsp;&nbsp; 10611196 |
| Navigator Holdings Ltd. | &nbsp;&nbsp; 249662 | &nbsp;&nbsp; 5247895 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp; 340560 | &nbsp;&nbsp; 12123936 |
| Teekay Tankers Ltd., Class A | &nbsp;&nbsp; 137500 | &nbsp;&nbsp; 10762125 |
| Total |  | &nbsp;&nbsp; 58573031 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **77189929** |
| **Financials 19.7%** | **Financials 19.7%** | **Financials 19.7%** |
| **Banks 7.8%** | **Banks 7.8%** | **Banks 7.8%** |
| Banc of California, Inc. | &nbsp;&nbsp; 509770 | &nbsp;&nbsp; 9415452 |
| Bank of NT Butterfield & Son Ltd. (The) | &nbsp;&nbsp; 172422 | &nbsp;&nbsp; 8750416 |
| BankUnited, Inc. | &nbsp;&nbsp; 318578 | &nbsp;&nbsp; 14877593 |
| Fulton Financial Corp. | &nbsp;&nbsp; 648213 | &nbsp;&nbsp; 13255956 |
| Origin Bancorp, Inc. | &nbsp;&nbsp; 106930 | &nbsp;&nbsp; 4448288 |
| Texas Capital Bancshares, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 144755 | &nbsp;&nbsp; 13795151 |
| Total |  | &nbsp;&nbsp; 64542856 |
| **Capital Markets 1.7%** | **Capital Markets 1.7%** | **Capital Markets 1.7%** |
| StoneX Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 112205 | &nbsp;&nbsp; 14306138 |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Finance 1.1%** | **Consumer Finance 1.1%** | **Consumer Finance 1.1%** |
| FirstCash Holdings, Inc. | &nbsp;&nbsp; 46080 | &nbsp;&nbsp; 8883763 |
| **Financial Services 4.0%** | **Financial Services 4.0%** | **Financial Services 4.0%** |
| Banco Latinoamericano de Comercio Exterior SA, <br> Class E<br>| &nbsp;&nbsp; 136430 | &nbsp;&nbsp; 6825593 |
| Essent Group Ltd. | &nbsp;&nbsp; 230073 | &nbsp;&nbsp; 13997641 |
| NMI Holdings, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 309568 | &nbsp;&nbsp; 12169118 |
| Total |  | &nbsp;&nbsp; 32992352 |
| **Insurance 4.2%** | **Insurance 4.2%** | **Insurance 4.2%** |
| Assured Guaranty Ltd. | &nbsp;&nbsp; 96706 | &nbsp;&nbsp; 8337024 |
| Hamilton Insurance Group Ltd., Class B<sup>(a)</sup> <br>| &nbsp;&nbsp; 356080 | &nbsp;&nbsp; 11248567 |
| Horace Mann Educators Corp. | &nbsp;&nbsp; 168710 | &nbsp;&nbsp; 7340572 |
| Neptune Insurance Holdings, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 360520 | &nbsp;&nbsp; 7506027 |
| Total |  | &nbsp;&nbsp; 34432190 |
| **Mortgage Real Estate Investment Trusts (REITS) 0.9%** | **Mortgage Real Estate Investment Trusts (REITS) 0.9%** | **Mortgage Real Estate Investment Trusts (REITS) 0.9%** |
| Dynex Capital, Inc. | &nbsp;&nbsp; 537790 | &nbsp;&nbsp; 7545194 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **162702493** |
| **Health Care 7.0%** | **Health Care 7.0%** | **Health Care 7.0%** |
| **Biotechnology 1.0%** | **Biotechnology 1.0%** | **Biotechnology 1.0%** |
| Cytokinetics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 128610 | &nbsp;&nbsp; 8002114 |
| **Health Care Equipment & Supplies 0.7%** | **Health Care Equipment & Supplies 0.7%** | **Health Care Equipment & Supplies 0.7%** |
| CONMED Corp. | &nbsp;&nbsp; 132030 | &nbsp;&nbsp; 6073380 |
| **Health Care Providers & Services 3.1%** | **Health Care Providers & Services 3.1%** | **Health Care Providers & Services 3.1%** |
| AdaptHealth Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 503190 | &nbsp;&nbsp; 4604189 |
| Ardent Health, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 452380 | &nbsp;&nbsp; 4247848 |
| PACS Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 287570 | &nbsp;&nbsp; 10499181 |
| Pediatrix Medical Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 303146 | &nbsp;&nbsp; 6017448 |
| Total |  | &nbsp;&nbsp; 25368666 |
| **Pharmaceuticals 2.2%** | **Pharmaceuticals 2.2%** | **Pharmaceuticals 2.2%** |
| Amneal Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 942758 | &nbsp;&nbsp; 13019488 |
| ANI Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 66360 | &nbsp;&nbsp; 4904004 |
| Total |  | &nbsp;&nbsp; 17923492 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **57367652** |
| **Industrials 15.6%** | **Industrials 15.6%** | **Industrials 15.6%** |
| **Air Freight & Logistics 1.0%** | **Air Freight & Logistics 1.0%** | **Air Freight & Logistics 1.0%** |
| HUB Group, Inc., Class A | &nbsp;&nbsp; 194010 | &nbsp;&nbsp; 8356011 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Building Products 2.1%** | **Building Products 2.1%** | **Building Products 2.1%** |
| Resideo Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 247076 | &nbsp;&nbsp; 9561841 |
| UFP Industries, Inc. | &nbsp;&nbsp; 77330 | &nbsp;&nbsp; 7958030 |
| Total |  | &nbsp;&nbsp; 17519871 |
| **Commercial Services & Supplies 3.0%** | **Commercial Services & Supplies 3.0%** | **Commercial Services & Supplies 3.0%** |
| Healthcare Services Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 242566 | &nbsp;&nbsp; 5280662 |
| HNI Corp. | &nbsp;&nbsp; 220273 | &nbsp;&nbsp; 9903474 |
| OPENLANE, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 347480 | &nbsp;&nbsp; 9906655 |
| Total |  | &nbsp;&nbsp; 25090791 |
| **Electrical Equipment 1.6%** | **Electrical Equipment 1.6%** | **Electrical Equipment 1.6%** |
| Shoals Technologies Group, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 531910 | &nbsp;&nbsp; 3154226 |
| Sunrun, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 307410 | &nbsp;&nbsp; 4073182 |
| Thermon<sup>(a)</sup> <br>| &nbsp;&nbsp; 114220 | &nbsp;&nbsp; 5800092 |
| Total |  | &nbsp;&nbsp; 13027500 |
| **Ground Transportation 1.2%** | **Ground Transportation 1.2%** | **Ground Transportation 1.2%** |
| ArcBest Corp. | &nbsp;&nbsp; 91933 | &nbsp;&nbsp; 9437842 |
| **Machinery 3.4%** | **Machinery 3.4%** | **Machinery 3.4%** |
| Astec Industries, Inc. | &nbsp;&nbsp; 109253 | &nbsp;&nbsp; 6783519 |
| Greenbrier Companies, Inc. (The) | &nbsp;&nbsp; 111240 | &nbsp;&nbsp; 6276161 |
| Helios Technologies, Inc. | &nbsp;&nbsp; 74020 | &nbsp;&nbsp; 5279106 |
| Worthington Enterprises, Inc. | &nbsp;&nbsp; 171227 | &nbsp;&nbsp; 9590424 |
| Total |  | &nbsp;&nbsp; 27929210 |
| **Passenger Airlines 0.8%** | **Passenger Airlines 0.8%** | **Passenger Airlines 0.8%** |
| Alaska Air Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 134415 | &nbsp;&nbsp; 6935814 |
| **Trading Companies & Distributors 2.5%** | **Trading Companies & Distributors 2.5%** | **Trading Companies & Distributors 2.5%** |
| DNOW, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 295132 | &nbsp;&nbsp; 3476655 |
| McGrath Rentcorp | &nbsp;&nbsp; 66007 | &nbsp;&nbsp; 7323477 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp; 139688 | &nbsp;&nbsp; 9913657 |
| Total |  | &nbsp;&nbsp; 20713789 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **129010828** |
| **Information Technology 9.4%** | **Information Technology 9.4%** | **Information Technology 9.4%** |
| **Communications Equipment 1.7%** | **Communications Equipment 1.7%** | **Communications Equipment 1.7%** |
| Digi International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 128390 | &nbsp;&nbsp; 6268000 |
| Netscout Systems, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 284103 | &nbsp;&nbsp; 8298648 |
| Total |  | &nbsp;&nbsp; 14566648 |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Electronic Equipment, Instruments & Components 4.4%** | **Electronic Equipment, Instruments & Components 4.4%** | **Electronic Equipment, Instruments & Components 4.4%** |
| Benchmark Electronics, Inc. | &nbsp;&nbsp; 123850 | &nbsp;&nbsp; 7159769 |
| Crane NXT Co. | &nbsp;&nbsp; 136784 | &nbsp;&nbsp; 6605299 |
| CTS Corp. | &nbsp;&nbsp; 88079 | &nbsp;&nbsp; 4638240 |
| Littelfuse, Inc. | &nbsp;&nbsp; 30140 | &nbsp;&nbsp; 10623144 |
| Vontier Corp. | &nbsp;&nbsp; 176144 | &nbsp;&nbsp; 7207813 |
| Total |  | &nbsp;&nbsp; 36234265 |
| **Semiconductors & Semiconductor Equipment 3.3%** | **Semiconductors & Semiconductor Equipment 3.3%** | **Semiconductors & Semiconductor Equipment 3.3%** |
| Diodes, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 161710 | &nbsp;&nbsp; 11033473 |
| Synaptics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 100991 | &nbsp;&nbsp; 8226727 |
| Ultra Clean Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 130420 | &nbsp;&nbsp; 7913886 |
| Total |  | &nbsp;&nbsp; 27174086 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **77974999** |
| **Materials 6.0%** | **Materials 6.0%** | **Materials 6.0%** |
| **Chemicals 3.2%** | **Chemicals 3.2%** | **Chemicals 3.2%** |
| Avient Corp. | &nbsp;&nbsp; 218230 | &nbsp;&nbsp; 8962706 |
| Cabot Corp. | &nbsp;&nbsp; 125127 | &nbsp;&nbsp; 9527170 |
| Ecovyst, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 399550 | &nbsp;&nbsp; 4502928 |
| Stepan Co. | &nbsp;&nbsp; 71910 | &nbsp;&nbsp; 3659500 |
| Total |  | &nbsp;&nbsp; 26652304 |
| **Metals & Mining 2.8%** | **Metals & Mining 2.8%** | **Metals & Mining 2.8%** |
| Commercial Metals Co. | &nbsp;&nbsp; 140150 | &nbsp;&nbsp; 10272995 |
| Ryerson Holding Corp. | &nbsp;&nbsp; 141191 | &nbsp;&nbsp; 3693557 |
| Torex Gold Resources, Inc. | &nbsp;&nbsp; 140560 | &nbsp;&nbsp; 8564159 |
| Total |  | &nbsp;&nbsp; 22530711 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **49183015** |
| **Real Estate 12.4%** | **Real Estate 12.4%** | **Real Estate 12.4%** |
| **Diversified REITs 0.9%** | **Diversified REITs 0.9%** | **Diversified REITs 0.9%** |
| Global Net Lease, Inc. | &nbsp;&nbsp; 754360 | &nbsp;&nbsp; 7106071 |
| **Health Care REITs 0.7%** | **Health Care REITs 0.7%** | **Health Care REITs 0.7%** |
| Sila Realty Trust, Inc. | &nbsp;&nbsp; 213729 | &nbsp;&nbsp; 5499247 |
| **Hotel & Resort REITs 2.1%** | **Hotel & Resort REITs 2.1%** | **Hotel & Resort REITs 2.1%** |
| DiamondRock Hospitality Co. | &nbsp;&nbsp; 679500 | &nbsp;&nbsp; 6822180 |
| Pebblebrook Hotel Trust | &nbsp;&nbsp; 407200 | &nbsp;&nbsp; 5224376 |
| Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp; 337954 | &nbsp;&nbsp; 5163937 |
| Total |  | &nbsp;&nbsp; 17210493 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Office REITs 0.4%** | **Office REITs 0.4%** | **Office REITs 0.4%** |
| Piedmont Realty Trust, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 498210 | &nbsp;&nbsp; 3781414 |
| **Real Estate Management & Development 2.4%** | **Real Estate Management & Development 2.4%** | **Real Estate Management & Development 2.4%** |
| Cushman & Wakefield Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 706600 | &nbsp;&nbsp; 9475506 |
| Newmark Group, Inc., Class A | &nbsp;&nbsp; 712022 | &nbsp;&nbsp; 10338560 |
| Total |  | &nbsp;&nbsp; 19814066 |
| **Retail REITs 4.4%** | **Retail REITs 4.4%** | **Retail REITs 4.4%** |
| Macerich Co. (The) | &nbsp;&nbsp; 558502 | &nbsp;&nbsp; 11432536 |
| NetSTREIT Corp. | &nbsp;&nbsp; 370340 | &nbsp;&nbsp; 7691962 |
| Phillips Edison & Co., Inc. | &nbsp;&nbsp; 442240 | &nbsp;&nbsp; 17371187 |
| Total |  | &nbsp;&nbsp; 36495685 |
| **Specialized REITs 1.5%** | **Specialized REITs 1.5%** | **Specialized REITs 1.5%** |
| Rayonier, Inc. | &nbsp;&nbsp; 565717 | &nbsp;&nbsp; 12157258 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **102064234** |
| **Utilities 2.6%** | **Utilities 2.6%** | **Utilities 2.6%** |
| **Electric Utilities 1.5%** | **Electric Utilities 1.5%** | **Electric Utilities 1.5%** |
| Portland General Electric Co. | &nbsp;&nbsp; 223751 | &nbsp;&nbsp; 12073604 |
| **Gas Utilities 1.1%** | **Gas Utilities 1.1%** | **Gas Utilities 1.1%** |
| National Fuel Gas Co. | &nbsp;&nbsp; 104580 | &nbsp;&nbsp; 9519917 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **21593521** |
| Total Common Stocks <br>(Cost $665,860,908) | Total Common Stocks <br>(Cost $665,860,908) | &nbsp;&nbsp; **818780478** |
| **Exchange-Traded Equity Funds 0.6%** | **Exchange-Traded Equity Funds 0.6%** | **Exchange-Traded Equity Funds 0.6%** |
|  | **Shares** | **Value ($)** |
| **U.S. Small Cap 0.6%** | **U.S. Small Cap 0.6%** | **U.S. Small Cap 0.6%** |
| iShares Russell 2000 Value ETF | &nbsp;&nbsp; 25430 | &nbsp;&nbsp; 5023696 |
| Total Exchange-Traded Equity Funds <br>(Cost $4,959,552) | Total Exchange-Traded Equity Funds <br>(Cost $4,959,552) | &nbsp;&nbsp; **5023696** |
| **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 334036 | &nbsp;&nbsp; 333970 |
| Total Money Market Funds <br>(Cost $333,933) | Total Money Market Funds <br>(Cost $333,933) | &nbsp;&nbsp; **333970** |
| **Total Investments in Securities** <br>**(Cost: $671,154,393)** | **Total Investments in Securities** <br>**(Cost: $671,154,393)** | &nbsp;&nbsp; **824138144** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **2205593** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **826343737** |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) The rate shown is the seven-day current annualized yield at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 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, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 6664460 | &nbsp;&nbsp; 236154913 | &nbsp;&nbsp; (242484770)<br>| &nbsp;&nbsp; (633)<br>| &nbsp;&nbsp; 333970 | &nbsp;&nbsp; 103 | &nbsp;&nbsp; 175447 | &nbsp;&nbsp; 334036 |

---

**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 February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 7424460 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7424460 |
| Consumer Discretionary | 100149299 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 100149299 |
| Consumer Staples | 34120048 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34120048 |
| Energy | 77189929 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 77189929 |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| Financials | 162702493 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 162702493 |
| Health Care | 57367652 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 57367652 |
| Industrials | 129010828 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 129010828 |
| Information Technology | 77974999 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 77974999 |
| Materials | 49183015 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 49183015 |
| Real Estate | 102064234 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 102064234 |
| Utilities | 21593521 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21593521 |
| Total Common Stocks | 818780478 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 818780478 |
| Exchange-Traded Equity Funds | 5023696 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5023696 |
| Money Market Funds | 333970 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 333970 |
| Total Investments in Securities | 824138144 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 824138144 |

---

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 Small Cap Value and Inflection Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $670,820,460) | $823804174 |
| Affiliated issuers (cost $333,933) | 333970 |
| Receivable for: |  |
| Investments sold | 5103241 |
| Capital shares sold | 558266 |
| Dividends | 581751 |
| Foreign tax reclaims | 2632 |
| Expense reimbursement due from Investment Manager | 3710 |
| Prepaid expenses | 3887 |
| Total assets | 830391631 |
| **Liabilities** |  |
| Payable for: |  |
| Investments purchased | 3069742 |
| Capital shares redeemed | 597620 |
| Management services fees | 19614 |
| Distribution and/or service fees | 515 |
| Transfer agent fees | 78969 |
| Compensation of chief compliance officer | 129 |
| Compensation of board members | 2138 |
| Other expenses | 56489 |
| Deferred compensation of board members | 222678 |
| Total liabilities | 4047894 |
| **Net assets applicable to outstanding capital stock** | **$826343737** |
| **Represented by** |  |
| Paid in capital | 629536109 |
| Total distributable earnings (loss) | 196807628 |
| **Total - representing net assets applicable to outstanding capital stock** | **$826343737** |
| **Class A** |  |
| Net assets | $68723013 |
| Shares outstanding | 4912795 |
| Net asset value per share | $13.99 |
| 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) | $14.84 |
| **Institutional Class** |  |
| Net assets | $199715835 |
| Shares outstanding | 13726319 |
| Net asset value per share | $14.55 |
| **Institutional 2 Class** |  |
| Net assets | $71131763 |
| Shares outstanding | 4616368 |
| Net asset value per share | $15.41 |
| **Institutional 3 Class** |  |
| Net assets | $428716330 |
| Shares outstanding | 27620254 |
| Net asset value per share | $15.52 |
| **Class R** |  |
| Net assets | $2494809 |
| Shares outstanding | 186997 |
| Net asset value per share | $13.34 |
| **Class S** |  |
| Net assets | $55561987 |
| Shares outstanding | 3819098 |
| Net asset value per share | $14.55 |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $13442358 |
| Dividends — affiliated issuers | 175447 |
| Foreign taxes withheld | (24044)<br>|
| Total income | 13593761 |
| Expenses: |  |
| Management services fees | 7007299 |
| Distribution and/or service fees |  |
| Class A | 163465 |
| Class R | 10407 |
| Transfer agent fees |  |
| Class A | 146544 |
| Institutional Class | 448620 |
| Institutional 2 Class | 33242 |
| Institutional 3 Class | 24501 |
| Class R | 4656 |
| Class S | 178871 |
| Custodian fees | 10372 |
| Printing and postage fees | 95156 |
| Registration fees | 111756 |
| Accounting services fees | 33323 |
| Legal fees | 28388 |
| Interest on interfund lending | 13813 |
| Compensation of chief compliance officer | 115 |
| Compensation of board members | 19326 |
| Deferred compensation of board members | 35129 |
| Other | 35307 |
| Total expenses | 8400290 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1279620)<br>|
| Expense reduction | (60)<br>|
| Total net expenses | 7120610 |
| **Net investment income** | 6473151 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 133942405 |
| Investments — affiliated issuers | 103 |
| Foreign currency translations | (8224)<br>|
| Net realized gain | 133934284 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 17120416 |
| Investments — affiliated issuers | (633)<br>|
| Foreign currency translations | 60 |
| Net change in unrealized appreciation (depreciation) | 17119843 |
| Net realized and unrealized gain | 151054127 |
| **Net increase in net assets resulting from operations** | **$157527278** |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $6473151 | &nbsp;&nbsp; $8510133 |
| Net realized gain | 133934284 | &nbsp;&nbsp; 192506490 |
| Net change in unrealized appreciation (depreciation) | 17119843 | &nbsp;&nbsp; (94574935)<br>|
| Net increase in net assets resulting from operations | 157527278 | &nbsp;&nbsp; 106441688 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (9725416)<br>| &nbsp;&nbsp; (19074111)<br>|
| Advisor Class |  | &nbsp;&nbsp; (10735123)<br>|
| Institutional Class | (28699897)<br>| &nbsp;&nbsp; (63806890)<br>|
| Institutional 2 Class | (9597074)<br>| &nbsp;&nbsp; (34063326)<br>|
| Institutional 3 Class | (57814756)<br>| &nbsp;&nbsp; (114664494)<br>|
| Class R | (332833)<br>| &nbsp;&nbsp; (480112)<br>|
| Class S | (11414476)<br>| &nbsp;&nbsp; (14554392)<br>|
| Total distributions to shareholders | (117584452)<br>| &nbsp;&nbsp; (257378448)<br>|
| Decrease in net assets from capital stock activity | (82771718)<br>| &nbsp;&nbsp; (245370382)<br>|
| Total decrease in net assets | (42828892)<br>| &nbsp;&nbsp; (396307142)<br>|
| Net assets at beginning of year | 869172629 | &nbsp;&nbsp; 1265479771 |
| **Net assets at end of year** | **$826343737** | &nbsp;&nbsp; **$869172629** |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 828360 | &nbsp;&nbsp;&nbsp;&nbsp; 10746189 | &nbsp;&nbsp;&nbsp;&nbsp; 979711 | &nbsp;&nbsp;&nbsp;&nbsp; 14966504 |
| Distributions reinvested | 650012 | &nbsp;&nbsp;&nbsp;&nbsp; 8260947 | &nbsp;&nbsp;&nbsp;&nbsp; 1113236 | &nbsp;&nbsp;&nbsp;&nbsp; 16200084 |
| Shares redeemed | (1690455)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (22270964)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1612594)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (24985147)<br>|
| Net increase (decrease) | (212083)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3263828)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 480353 | &nbsp;&nbsp;&nbsp;&nbsp; 6181441 |
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 900353 | &nbsp;&nbsp;&nbsp;&nbsp; 15257524 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 630313 | &nbsp;&nbsp;&nbsp;&nbsp; 9574457 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8659342)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (154282586)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7128676)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (129450605)<br>|
| Class C |  |  |  |  |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (96863)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1246607)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (96863)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1246607)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 3706359 | &nbsp;&nbsp;&nbsp;&nbsp; 50335668 | &nbsp;&nbsp;&nbsp;&nbsp; 8333711 | &nbsp;&nbsp;&nbsp;&nbsp; 140095545 |
| Distributions reinvested | 1806697 | &nbsp;&nbsp;&nbsp;&nbsp; 23833338 | &nbsp;&nbsp;&nbsp;&nbsp; 3801320 | &nbsp;&nbsp;&nbsp;&nbsp; 56837097 |
| Shares redeemed | (6171028)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (85968419)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (15673477)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (250762706)<br>|
| Net decrease | (657972)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (11799413)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3538446)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (53830064)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 823084 | &nbsp;&nbsp;&nbsp;&nbsp; 11779783 | &nbsp;&nbsp;&nbsp;&nbsp; 1558295 | &nbsp;&nbsp;&nbsp;&nbsp; 26244271 |
| Distributions reinvested | 687842 | &nbsp;&nbsp;&nbsp;&nbsp; 9595673 | &nbsp;&nbsp;&nbsp;&nbsp; 2195981 | &nbsp;&nbsp;&nbsp;&nbsp; 34060405 |
| Shares redeemed | (1570234)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (22934633)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10956922)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (183414743)<br>|
| Net decrease | (59308)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1559177)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7202646)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (123110067)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 4730999 | &nbsp;&nbsp;&nbsp;&nbsp; 69063800 | &nbsp;&nbsp;&nbsp;&nbsp; 6255625 | &nbsp;&nbsp;&nbsp;&nbsp; 104028497 |
| Distributions reinvested | 3813821 | &nbsp;&nbsp;&nbsp;&nbsp; 53578396 | &nbsp;&nbsp;&nbsp;&nbsp; 6569873 | &nbsp;&nbsp;&nbsp;&nbsp; 103912982 |
| Shares redeemed | (9851955)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (144119072)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (15614195)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (264971032)<br>|
| Net decrease | (1307135)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (21476876)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2788697)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (57029553)<br>|
| Class R |  |  |  |  |
| Shares sold | 36295 | &nbsp;&nbsp;&nbsp;&nbsp; 457113 | &nbsp;&nbsp;&nbsp;&nbsp; 39141 | &nbsp;&nbsp;&nbsp;&nbsp; 579970 |
| Distributions reinvested | 27388 | &nbsp;&nbsp;&nbsp;&nbsp; 332833 | &nbsp;&nbsp;&nbsp;&nbsp; 34295 | &nbsp;&nbsp;&nbsp;&nbsp; 480112 |
| Shares redeemed | (18116)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (231716)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (75508)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1146123)<br>|
| Net increase (decrease) | 45567 | &nbsp;&nbsp;&nbsp;&nbsp; 558230 | &nbsp;&nbsp;&nbsp;&nbsp; (2072)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (86041)<br>|
| Class S |  |  |  |  |
| Shares sold | 520880 | &nbsp;&nbsp;&nbsp;&nbsp; 7011925 | &nbsp;&nbsp;&nbsp;&nbsp; 8035299 | &nbsp;&nbsp;&nbsp;&nbsp; 129613294 |
| Distributions reinvested | 867615 | &nbsp;&nbsp;&nbsp;&nbsp; 11414476 | &nbsp;&nbsp;&nbsp;&nbsp; 944886 | &nbsp;&nbsp;&nbsp;&nbsp; 14551248 |
| Shares redeemed | (4538496)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (63657055)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2011086)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (30963428)<br>|
| Net increase (decrease) | (3150001)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (45230654)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6969099 | &nbsp;&nbsp;&nbsp;&nbsp; 113201114 |
| **Total net decrease** | **(5340932)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(82771718)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(13307948)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(245370382)**<br>|

---

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

Columbia Small Cap Value and Inflection 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** |
| Year Ended 2/28/2026 | $13.58 | 0.06 | 2.44 | 2.50 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (2.01)<br>| &nbsp;&nbsp; (2.09)<br>|
| Year Ended 2/28/2025 | $16.35 | 0.07 | 1.34 | 1.41 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (3.90)<br>| &nbsp;&nbsp; (4.18)<br>|
| Year Ended 2/29/2024 | $16.49 | 0.12 | 0.86 | 0.98 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp; (1.12)<br>|
| Year Ended 2/28/2023 | $18.48 | 0.09 | &nbsp;&nbsp; (1.09)<br>| &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (0.99)<br>|
| Year Ended 2/28/2022 | $18.85 | &nbsp;&nbsp; (0.02)<br>| 2.33 | 2.31 | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (2.68)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $14.04 | 0.09 | 2.54 | 2.63 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (2.01)<br>| &nbsp;&nbsp; (2.12)<br>|
| Year Ended 2/28/2025 | $16.77 | 0.12 | 1.38 | 1.50 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.90)<br>| &nbsp;&nbsp; (4.23)<br>|
| Year Ended 2/29/2024 | $16.88 | 0.16 | 0.89 | 1.05 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp; (1.16)<br>|
| Year Ended 2/28/2023 | $18.90 | 0.13 | &nbsp;&nbsp; (1.13)<br>| &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.02)<br>|
| Year Ended 2/28/2022 | $19.21 | 0.04 | 2.38 | 2.42 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (2.73)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | $14.74 | 0.12 | 2.69 | 2.81 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (2.01)<br>| &nbsp;&nbsp; (2.14)<br>|
| Year Ended 2/28/2025 | $17.42 | 0.15 | 1.42 | 1.57 | &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (3.90)<br>| &nbsp;&nbsp; (4.25)<br>|
| Year Ended 2/29/2024 | $17.49 | 0.19 | 0.93 | 1.12 | &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp; (1.19)<br>|
| Year Ended 2/28/2023 | $19.53 | 0.16 | &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.04)<br>|
| Year Ended 2/28/2022 | $19.77 | 0.06 | 2.45 | 2.51 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (2.75)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | $14.83 | 0.13 | 2.70 | 2.83 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (2.01)<br>| &nbsp;&nbsp; (2.14)<br>|
| Year Ended 2/28/2025 | $17.50 | 0.15 | 1.44 | 1.59 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (3.90)<br>| &nbsp;&nbsp; (4.26)<br>|
| Year Ended 2/29/2024 | $17.57 | 0.20 | 0.93 | 1.13 | &nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp; (1.20)<br>|
| Year Ended 2/28/2023 | $19.61 | 0.17 | &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.05)<br>|
| Year Ended 2/28/2022 | $19.84 | 0.08 | 2.45 | 2.53 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (2.76)<br>|

---

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

Columbia Small Cap Value and Inflection 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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $13.99 | &nbsp;&nbsp;&nbsp;&nbsp; 20.54% | &nbsp;&nbsp;&nbsp;&nbsp; 1.37% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.20% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp; 115% | &nbsp;&nbsp;&nbsp;&nbsp; $68723 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.58 | &nbsp;&nbsp;&nbsp;&nbsp; 8.67% | &nbsp;&nbsp;&nbsp;&nbsp; 1.36% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.22% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.45% | &nbsp;&nbsp;&nbsp;&nbsp; 70% | &nbsp;&nbsp;&nbsp;&nbsp; $69580 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $16.35 | &nbsp;&nbsp;&nbsp;&nbsp; 6.58% | &nbsp;&nbsp;&nbsp;&nbsp; 1.35% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.25% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.77% | &nbsp;&nbsp;&nbsp;&nbsp; 88% | &nbsp;&nbsp;&nbsp;&nbsp; $75925 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $16.49 | &nbsp;&nbsp;&nbsp;&nbsp; (4.97%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.33% | &nbsp;&nbsp;&nbsp;&nbsp; 1.27% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $84580 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $18.48 | &nbsp;&nbsp;&nbsp;&nbsp; 11.94% | &nbsp;&nbsp;&nbsp;&nbsp; 1.34% | &nbsp;&nbsp;&nbsp;&nbsp; 1.28% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.08%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $91223 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $14.55 | &nbsp;&nbsp;&nbsp;&nbsp; 20.82% | &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69% | &nbsp;&nbsp;&nbsp;&nbsp; 115% | &nbsp;&nbsp;&nbsp;&nbsp; $199716 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.04 | &nbsp;&nbsp;&nbsp;&nbsp; 8.95% | &nbsp;&nbsp;&nbsp;&nbsp; 1.11% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 70% | &nbsp;&nbsp;&nbsp;&nbsp; $201901 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $16.77 | &nbsp;&nbsp;&nbsp;&nbsp; 6.87% | &nbsp;&nbsp;&nbsp;&nbsp; 1.10% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.00% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.01% | &nbsp;&nbsp;&nbsp;&nbsp; 88% | &nbsp;&nbsp;&nbsp;&nbsp; $300567 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $16.88 | &nbsp;&nbsp;&nbsp;&nbsp; (4.81%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.08% | &nbsp;&nbsp;&nbsp;&nbsp; 1.02% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $376007 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $18.90 | &nbsp;&nbsp;&nbsp;&nbsp; 12.27% | &nbsp;&nbsp;&nbsp;&nbsp; 1.09% | &nbsp;&nbsp;&nbsp;&nbsp; 1.03% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.18% | &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $425250 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.41 | &nbsp;&nbsp;&nbsp;&nbsp; 21.07% | &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp;&nbsp;&nbsp; 115% | &nbsp;&nbsp;&nbsp;&nbsp; $71132 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.74 | &nbsp;&nbsp;&nbsp;&nbsp; 9.05% | &nbsp;&nbsp;&nbsp;&nbsp; 0.94% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.91% | &nbsp;&nbsp;&nbsp;&nbsp; 70% | &nbsp;&nbsp;&nbsp;&nbsp; $68929 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $17.42 | &nbsp;&nbsp;&nbsp;&nbsp; 7.02% | &nbsp;&nbsp;&nbsp;&nbsp; 0.93% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.86% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16% | &nbsp;&nbsp;&nbsp;&nbsp; 88% | &nbsp;&nbsp;&nbsp;&nbsp; $206873 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $17.49 | &nbsp;&nbsp;&nbsp;&nbsp; (4.64%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.92% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.92% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $201436 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $19.53 | &nbsp;&nbsp;&nbsp;&nbsp; 12.41% | &nbsp;&nbsp;&nbsp;&nbsp; 0.91% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.30% | &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $223545 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.52 | &nbsp;&nbsp;&nbsp;&nbsp; 21.11% | &nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.76% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 115% | &nbsp;&nbsp;&nbsp;&nbsp; $428716 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.83 | &nbsp;&nbsp;&nbsp;&nbsp; 9.11% | &nbsp;&nbsp;&nbsp;&nbsp; 0.89% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90% | &nbsp;&nbsp;&nbsp;&nbsp; 70% | &nbsp;&nbsp;&nbsp;&nbsp; $429100 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $17.50 | &nbsp;&nbsp;&nbsp;&nbsp; 7.04% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.21% | &nbsp;&nbsp;&nbsp;&nbsp; 88% | &nbsp;&nbsp;&nbsp;&nbsp; $555015 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $17.57 | &nbsp;&nbsp;&nbsp;&nbsp; (4.58%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% | &nbsp;&nbsp;&nbsp;&nbsp; 0.99% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $562816 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $19.61 | &nbsp;&nbsp;&nbsp;&nbsp; 12.46% | &nbsp;&nbsp;&nbsp;&nbsp; 0.86% | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% | &nbsp;&nbsp;&nbsp;&nbsp; 0.37% | &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $679291 |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | $13.04 | 0.02 | 2.34 | 2.36 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (2.01)<br>| &nbsp;&nbsp; (2.06)<br>|
| Year Ended 2/28/2025 | $15.86 | 0.03 | 1.29 | 1.32 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (3.90)<br>| &nbsp;&nbsp; (4.14)<br>|
| Year Ended 2/29/2024 | $16.02 | 0.08 | 0.84 | 0.92 | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp; (1.08)<br>|
| Year Ended 2/28/2023 | $18.01 | 0.05 | &nbsp;&nbsp; (1.09)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (0.95)<br>|
| Year Ended 2/28/2022 | $18.44 | &nbsp;&nbsp; (0.07)<br>| 2.29 | 2.22 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp; (2.65)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | $14.04 | 0.10 | 2.53 | 2.63 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (2.01)<br>| &nbsp;&nbsp; (2.12)<br>|
| Year Ended 2/28/2025<sup>(f)</sup> <br>| $16.02 | 0.03 | 0.11 | 0.14 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (1.90)<br>| &nbsp;&nbsp; (2.12)<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) | Ratios include line of credit interest expense which is less than 0.01%.  |
| (f) | 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 Small Cap Value and Inflection 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**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $13.34 | &nbsp;&nbsp;&nbsp;&nbsp; 20.28% | &nbsp;&nbsp;&nbsp;&nbsp; 1.62% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.45% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16% | &nbsp;&nbsp;&nbsp;&nbsp; 115% | &nbsp;&nbsp;&nbsp;&nbsp; $2495 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.04 | &nbsp;&nbsp;&nbsp;&nbsp; 8.32% | &nbsp;&nbsp;&nbsp;&nbsp; 1.61% <br><sup>(c),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.47% <br><sup>(c),(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22% | &nbsp;&nbsp;&nbsp;&nbsp; 70% | &nbsp;&nbsp;&nbsp;&nbsp; $1845 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $15.86 | &nbsp;&nbsp;&nbsp;&nbsp; 6.36% | &nbsp;&nbsp;&nbsp;&nbsp; 1.60% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.50% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% | &nbsp;&nbsp;&nbsp;&nbsp; 88% | &nbsp;&nbsp;&nbsp;&nbsp; $2275 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $16.02 | &nbsp;&nbsp;&nbsp;&nbsp; (5.32%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.57%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.52% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.31% | &nbsp;&nbsp;&nbsp;&nbsp; 67% | &nbsp;&nbsp;&nbsp;&nbsp; $2661 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $18.01 | &nbsp;&nbsp;&nbsp;&nbsp; 11.73% | &nbsp;&nbsp;&nbsp;&nbsp; 1.59%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.34%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $3633 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $14.55 | &nbsp;&nbsp;&nbsp;&nbsp; 20.83% | &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 115% | &nbsp;&nbsp;&nbsp;&nbsp; $55562 |
|  Year Ended 2/28/2025 <br><sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $14.04 | &nbsp;&nbsp;&nbsp;&nbsp; (0.29%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.46% | &nbsp;&nbsp;&nbsp;&nbsp; 70% | &nbsp;&nbsp;&nbsp;&nbsp; $97817 |

---

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Small Cap Value and Inflection Fund (formerly known as Columbia Small Cap Value Fund II) (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory trust.

Effective September 1, 2025, Columbia Small Cap Value Fund II was renamed Columbia Small Cap Value and Inflection Fund.

**Fund shares**

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

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

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.

Columbia Small Cap Value and Inflection Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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.

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.

**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.

**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 Small Cap Value and Inflection Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared and paid semi-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.

Columbia Small Cap Value and Inflection Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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 0.87% to 0.75% as the Fund's net assets increase. The effective management services fee rate for the year ended February 28, 2026 was 0.85% 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 Small Cap Value and Inflection Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

For the year ended February 28, 2026, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.22 |
| Institutional Class | 0.22 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.01 |
| Class R | 0.22 |
| Class S | 0.23 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $60.

**Distribution and service fees**

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

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

**Sales charges (unaudited)**

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the year ended February 28, 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; 15472 |

---

&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 Small Cap Value and Inflection Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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>**June 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;1.20 |
| 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;0.95 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.80 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.76 |
| Class R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 |

---

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 February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, trustees' deferred compensation, foreign currency transactions, distribution reclassifications and earnings and profits distributed to shareholders on the redemption of shares. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Excess of distributions** <br>**over net investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>**gain ($)**<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; **Paid in** <br>**capital ($)**<br>|
| 284459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11342459)<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; 11058000 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 18722227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98862225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117584452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27560943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229817505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257378448 |

---

Columbia Small Cap Value and Inflection Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 14108570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30374907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152546769 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 671591375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160528397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7981628)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152546769 |

---

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 $948,636,018 and $1,135,677,768, respectively, for the year ended February 28, 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.

Columbia Small Cap Value and Inflection Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

The Fund's activity in the Interfund Program during the year ended February 28, 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>|
| Borrower | 4074074 | &nbsp;&nbsp;&nbsp;&nbsp;4.58 | &nbsp;&nbsp;&nbsp;&nbsp; 27 |

---

Interest expense incurred by the Fund is recorded as Interest on interfund lending in the Statement of Operations. The Fund had no outstanding interfund loans at February 28, 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 year ended February 28, 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 February 28, 2026, one unaffiliated shareholder of record owned 27.2% 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. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the

Columbia Small Cap Value and Inflection Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 Small Cap Value and Inflection Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Small Cap Value and Inflection Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Small Cap Value and Inflection Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Small Cap Value and Inflection Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | | | |
|:---|:---|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dividends** <br>**received** <br>**deduction**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Section** <br>**199A** <br>**dividends**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital** <br>**gain** <br>**dividend**<br>|
| 50.03% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42.62% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.11% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $123939536 |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.

Section 199A dividends. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents Section 199A dividends potentially eligible for a 20% deduction.

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Columbia Small Cap Value and Inflection Fund \| 2026

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[THIS PAGE INTENTIONALLY LEFT BLANK]

------

**Columbia Small Cap Value and Inflection Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382img406813012.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/

ANN230_02_T01_(04/26)

------

![](g250382img9d4be13c1.jpg)

Columbia Overseas Value Fund

**Annual Financial Statements and Additional Information**

February 28, 2026

---

| | | |
|:---|:---|:---|
| **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_384ec343-458d-4e14-8855-95bb44321a98_POI-CommonContent-Date-114_1) | 3 |
| [Statement of Assets and Liabilities](#xx_384ec343-458d-4e14-8855-95bb44321a98_FS-CommonContent-Date-114_1) | 9 |
| [Statement of Operations](#xx_384ec343-458d-4e14-8855-95bb44321a98_FS-CommonContent-Date-114_3) | 11 |
| [Statement of Changes in Net Assets](#xx_384ec343-458d-4e14-8855-95bb44321a98_FS-CommonContent-Date-114_5) | 13 |
| [Financial Highlights](#xx_384ec343-458d-4e14-8855-95bb44321a98_FIHI-CommonContent-Date-114_2) | 16 |
| [Notes to Financial Statements](#xx_384ec343-458d-4e14-8855-95bb44321a98_NTF-CommonContent-Date-114_1) | 20 |
| [Report of Independent Registered Public Accounting Firm](#xx_384ec343-458d-4e14-8855-95bb44321a98_AUD-CommonContent-Date-114_1) | 34 |
| [Federal Income Tax Information](#xx_384ec343-458d-4e14-8855-95bb44321a98_CCH-CommonContent-Date-114_1) | 35 |

---

Columbia Overseas Value Fund \| 2026

------

Portfolio of Investments

February 28, 2026

(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 97.7%** | **Common Stocks 97.7%** | **Common Stocks 97.7%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Australia 3.7%** | **Australia 3.7%** | **Australia 3.7%** |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 6455191 | &nbsp;&nbsp; 141496229 |
| Paladin Energy Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 6879959 | &nbsp;&nbsp; 65557126 |
| Santos Ltd. | &nbsp;&nbsp; 9071025 | &nbsp;&nbsp; 43714740 |
| **Total** | **Total** | &nbsp;&nbsp; **250768095** |
| **Belgium 0.3%** | **Belgium 0.3%** | **Belgium 0.3%** |
| Galapagos NV, ADR<sup>(a)</sup> <br>| &nbsp;&nbsp; 714747 | &nbsp;&nbsp; 24058384 |
| **Brazil 1.6%** | **Brazil 1.6%** | **Brazil 1.6%** |
| Banco do Brasil SA | &nbsp;&nbsp; 16303457 | &nbsp;&nbsp; 85961658 |
| Cosan SA<sup>(a)</sup> <br>| &nbsp;&nbsp; 16641531 | &nbsp;&nbsp; 20450921 |
| **Total** | **Total** | &nbsp;&nbsp; **106412579** |
| **Canada 4.4%** | **Canada 4.4%** | **Canada 4.4%** |
| Finning International, Inc. | &nbsp;&nbsp; 835204 | &nbsp;&nbsp; 56306851 |
| NexGen Energy Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3298894 | &nbsp;&nbsp; 42159865 |
| Nutrien Ltd. | &nbsp;&nbsp; 504966 | &nbsp;&nbsp; 37907798 |
| Pan American Silver Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 743551 | &nbsp;&nbsp; 51081954 |
| Teck Resources Ltd., Class B | &nbsp;&nbsp; 1124746 | &nbsp;&nbsp; 66236292 |
| Vermilion Energy, Inc. | &nbsp;&nbsp; 4571546 | &nbsp;&nbsp; 49235550 |
| **Total** | **Total** | &nbsp;&nbsp; **302928310** |
| **China 1.9%** | **China 1.9%** | **China 1.9%** |
| Ping An Insurance Group Co. of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 14734500 | &nbsp;&nbsp; 127462929 |
| **Finland 1.0%** | **Finland 1.0%** | **Finland 1.0%** |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 2120151 | &nbsp;&nbsp; 67516683 |
| **France 8.4%** | **France 8.4%** | **France 8.4%** |
| AXA SA | &nbsp;&nbsp; 3419517 | &nbsp;&nbsp; 167221568 |
| BNP Paribas SA | &nbsp;&nbsp; 637949 | &nbsp;&nbsp; 71629999 |
| Cie de Saint-Gobain SA | &nbsp;&nbsp; 161685 | &nbsp;&nbsp; 16385440 |
| Eiffage SA | &nbsp;&nbsp; 240758 | &nbsp;&nbsp; 41516931 |
| Sanofi SA | &nbsp;&nbsp; 1046234 | &nbsp;&nbsp; 102323110 |
| TotalEnergies SE | &nbsp;&nbsp; 2254934 | &nbsp;&nbsp; 180623850 |
| **Total** | **Total** | &nbsp;&nbsp; **579700898** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Germany 3.5%** | **Germany 3.5%** | **Germany 3.5%** |
| Duerr AG | &nbsp;&nbsp; 944547 | &nbsp;&nbsp; 27155352 |
| E.ON SE | &nbsp;&nbsp; 3051825 | &nbsp;&nbsp; 70966797 |
| Fresenius Medical Care AG | &nbsp;&nbsp; 1342831 | &nbsp;&nbsp; 62549084 |
| KION Group AG | &nbsp;&nbsp; 662425 | &nbsp;&nbsp; 44957940 |
| Siemens AG, Registered Shares | &nbsp;&nbsp; 111512 | &nbsp;&nbsp; 32243010 |
| **Total** | **Total** | &nbsp;&nbsp; **237872183** |
| **Greece 1.8%** | **Greece 1.8%** | **Greece 1.8%** |
| Piraeus Bank SA<sup>(a)</sup> <br>| &nbsp;&nbsp; 13080790 | &nbsp;&nbsp; 125504843 |
| **Hong Kong 4.4%** | **Hong Kong 4.4%** | **Hong Kong 4.4%** |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 17205500 | &nbsp;&nbsp; 98411308 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 5397500 | &nbsp;&nbsp; 100343033 |
| WH Group Ltd. | &nbsp;&nbsp; 79992330 | &nbsp;&nbsp; 100611566 |
| **Total** | **Total** | &nbsp;&nbsp; **299365907** |
| **Ireland 1.8%** | **Ireland 1.8%** | **Ireland 1.8%** |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 6441818 | &nbsp;&nbsp; 125430498 |
| **Israel 1.3%** | **Israel 1.3%** | **Israel 1.3%** |
| Check Point Software Technologies Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 591736 | &nbsp;&nbsp; 89985293 |
| **Italy 3.1%** | **Italy 3.1%** | **Italy 3.1%** |
| BPER Banca SPA | &nbsp;&nbsp; 8927278 | &nbsp;&nbsp; 125731211 |
| Buzzi SpA | &nbsp;&nbsp; 715460 | &nbsp;&nbsp; 41248708 |
| PRADA SpA | &nbsp;&nbsp; 8174500 | &nbsp;&nbsp; 46340505 |
| **Total** | **Total** | &nbsp;&nbsp; **213320424** |
| **Japan 21.9%** | **Japan 21.9%** | **Japan 21.9%** |
| Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp; 7657300 | &nbsp;&nbsp; 78574286 |
| Daiwabo Holdings Co., Ltd. | &nbsp;&nbsp; 3149800 | &nbsp;&nbsp; 64444394 |
| Iyogin Holdings, Inc. | &nbsp;&nbsp; 2835300 | &nbsp;&nbsp; 61452389 |
| Kinden Corp. | &nbsp;&nbsp; 497200 | &nbsp;&nbsp; 26957509 |
| Macnica Holdings, Inc. | &nbsp;&nbsp; 3197300 | &nbsp;&nbsp; 56507715 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 3834000 | &nbsp;&nbsp; 63562424 |
| Mebuki Financial Group, Inc. | &nbsp;&nbsp; 14447800 | &nbsp;&nbsp; 123920360 |
| Medipal Holdings Corp. | &nbsp;&nbsp; 2649300 | &nbsp;&nbsp; 51917234 |
| Nippon Television Holdings, Inc. | &nbsp;&nbsp; 2519000 | &nbsp;&nbsp; 54831626 |
| ORIX Corp. | &nbsp;&nbsp; 2387500 | &nbsp;&nbsp; 83799102 |
| Sankyo Co., Ltd. | &nbsp;&nbsp; 5121900 | &nbsp;&nbsp; 72203659 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 1086600 | &nbsp;&nbsp; 28756341 |

---

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

Columbia Overseas Value Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| SCREEN Holdings Co., Ltd. | &nbsp;&nbsp; 237500 | &nbsp;&nbsp; 34622111 |
| Shimamura Co., Ltd. | &nbsp;&nbsp; 3286800 | &nbsp;&nbsp; 75593180 |
| Ship Healthcare Holdings, Inc. | &nbsp;&nbsp; 1243700 | &nbsp;&nbsp; 21917334 |
| Subaru Corp. | &nbsp;&nbsp; 3678300 | &nbsp;&nbsp; 68994282 |
| Sumitomo Corp. | &nbsp;&nbsp; 2489300 | &nbsp;&nbsp; 105703535 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp; 4129100 | &nbsp;&nbsp; 155814009 |
| Sundrug Co., Ltd. | &nbsp;&nbsp; 885400 | &nbsp;&nbsp; 23937238 |
| Tokyo Tatemono Co., Ltd. | &nbsp;&nbsp; 3545700 | &nbsp;&nbsp; 99204998 |
| TOPPAN Holdings, Inc. | &nbsp;&nbsp; 1391200 | &nbsp;&nbsp; 47655200 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 1778600 | &nbsp;&nbsp; 79504507 |
| TV Asahi Holdings Corp. | &nbsp;&nbsp; 1163800 | &nbsp;&nbsp; 25193781 |
| **Total** | **Total** | &nbsp;&nbsp; **1505067214** |
| **Jersey 1.0%** | **Jersey 1.0%** | **Jersey 1.0%** |
| Yellow Cake PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 7819937 | &nbsp;&nbsp; 66920318 |
| **Kazakhstan 0.4%** | **Kazakhstan 0.4%** | **Kazakhstan 0.4%** |
| Kaspi.KZ JSC, ADR<sup>(a)</sup> <br>| &nbsp;&nbsp; 429035 | &nbsp;&nbsp; 30285581 |
| **Netherlands 5.0%** | **Netherlands 5.0%** | **Netherlands 5.0%** |
| ASR Nederland NV | &nbsp;&nbsp; 1791292 | &nbsp;&nbsp; 130160355 |
| ING Groep NV | &nbsp;&nbsp; 4400144 | &nbsp;&nbsp; 126957064 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 1243153 | &nbsp;&nbsp; 61356353 |
| Prosus NV, Class N<sup>(a)</sup> <br>| &nbsp;&nbsp; 445622 | &nbsp;&nbsp; 22905167 |
| **Total** | **Total** | &nbsp;&nbsp; **341378939** |
| **Norway 2.7%** | **Norway 2.7%** | **Norway 2.7%** |
| DNB Bank ASA | &nbsp;&nbsp; 3766048 | &nbsp;&nbsp; 119212069 |
| Leroy Seafood Group ASA | &nbsp;&nbsp; 12908227 | &nbsp;&nbsp; 67369517 |
| **Total** | **Total** | &nbsp;&nbsp; **186581586** |
| **Poland 1.0%** | **Poland 1.0%** | **Poland 1.0%** |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp; 2677238 | &nbsp;&nbsp; 69363670 |
| **Russian Federation —%** | **Russian Federation —%** | **Russian Federation —%** |
| Lukoil PJSC<sup>(a),(c),(d),(e),(f)</sup> <br>| &nbsp;&nbsp; 106132 | &nbsp;&nbsp; — |
| **Singapore 1.9%** | **Singapore 1.9%** | **Singapore 1.9%** |
| BW LPG Ltd. | &nbsp;&nbsp; 545083 | &nbsp;&nbsp; 9921300 |
| BW LPG Ltd. | &nbsp;&nbsp; 2938004 | &nbsp;&nbsp; 53559813 |
| Venture Corp., Ltd. | &nbsp;&nbsp; 5457300 | &nbsp;&nbsp; 67385083 |
| **Total** | **Total** | &nbsp;&nbsp; **130866196** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **South Africa 1.2%** | **South Africa 1.2%** | **South Africa 1.2%** |
| Impala Platinum Holdings Ltd. | &nbsp;&nbsp; 2575892 | &nbsp;&nbsp; 57225203 |
| Thungela Resources Ltd. | &nbsp;&nbsp; 3640033 | &nbsp;&nbsp; 25387366 |
| **Total** | **Total** | &nbsp;&nbsp; **82612569** |
| **South Korea 0.6%** | **South Korea 0.6%** | **South Korea 0.6%** |
| Youngone Corp. | &nbsp;&nbsp; 621360 | &nbsp;&nbsp; 41717867 |
| **Spain 4.0%** | **Spain 4.0%** | **Spain 4.0%** |
| Banco Santander SA | &nbsp;&nbsp; 16332197 | &nbsp;&nbsp; 205982694 |
| Endesa SA | &nbsp;&nbsp; 1670439 | &nbsp;&nbsp; 68147596 |
| **Total** | **Total** | &nbsp;&nbsp; **274130290** |
| **Switzerland 1.1%** | **Switzerland 1.1%** | **Switzerland 1.1%** |
| Nestlé SA, Registered Shares | &nbsp;&nbsp; 716873 | &nbsp;&nbsp; 78325862 |
| **Turkey 0.4%** | **Turkey 0.4%** | **Turkey 0.4%** |
| Akbank T.A.S. | &nbsp;&nbsp; 13286573 | &nbsp;&nbsp; 27319335 |
| **United Arab Emirates 1.6%** | **United Arab Emirates 1.6%** | **United Arab Emirates 1.6%** |
| Emaar Properties PJSC | &nbsp;&nbsp; 24725071 | &nbsp;&nbsp; 109122040 |
| **United Kingdom 7.8%** | **United Kingdom 7.8%** | **United Kingdom 7.8%** |
| AstraZeneca PLC | &nbsp;&nbsp; 292699 | &nbsp;&nbsp; 61013106 |
| Centrica PLC | &nbsp;&nbsp; 21903581 | &nbsp;&nbsp; 58739797 |
| HSBC Holdings PLC | &nbsp;&nbsp; 3334573 | &nbsp;&nbsp; 62326539 |
| Imperial Brands PLC | &nbsp;&nbsp; 3571386 | &nbsp;&nbsp; 159958329 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 35344329 | &nbsp;&nbsp; 38936222 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 16061574 | &nbsp;&nbsp; 85866682 |
| TP Icap Group PLC | &nbsp;&nbsp; 19828231 | &nbsp;&nbsp; 67690970 |
| **Total** | **Total** | &nbsp;&nbsp; **534531645** |
| **United States 9.9%** | **United States 9.9%** | **United States 9.9%** |
| Burford Capital Ltd. | &nbsp;&nbsp; 3497357 | &nbsp;&nbsp; 29517693 |
| Diversified Energy Co. | &nbsp;&nbsp; 3284718 | &nbsp;&nbsp; 45197720 |
| Energy Fuels, Inc.<sup>(a),(b)</sup> <br>| &nbsp;&nbsp; 1776040 | &nbsp;&nbsp; 37865173 |
| Flutter Entertainment PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 207762 | &nbsp;&nbsp; 22051859 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 224670 | &nbsp;&nbsp; 42691793 |
| JBS NV, Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 3451322 | &nbsp;&nbsp; 58292829 |
| Primo Brands Corp., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 6112063 | &nbsp;&nbsp; 138621589 |
| Roche Holding AG, Genusschein Shares | &nbsp;&nbsp; 129162 | &nbsp;&nbsp; 61468384 |
| Shell PLC | &nbsp;&nbsp; 5019962 | &nbsp;&nbsp; 210250438 |

---

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

Columbia Overseas Value Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Smurfit WestRock PLC | &nbsp;&nbsp; 704946 | &nbsp;&nbsp; 33139511 |
| **Total** | **Total** | &nbsp;&nbsp; **679096989** |
| Total Common Stocks <br>(Cost $4,865,999,339) | Total Common Stocks <br>(Cost $4,865,999,339) | &nbsp;&nbsp; **6707647127** |
| **Exchange-Traded Equity Funds 1.7%** | **Exchange-Traded Equity Funds 1.7%** | **Exchange-Traded Equity Funds 1.7%** |
|  | **Shares** | **Value ($)** |
| **United States 1.7%** | **United States 1.7%** | **United States 1.7%** |
| iShares MSCI EAFE Value ETF | &nbsp;&nbsp; 1416775 | &nbsp;&nbsp; 113001974 |
| Total Exchange-Traded Equity Funds <br>(Cost $106,641,399) | Total Exchange-Traded Equity Funds <br>(Cost $106,641,399) | &nbsp;&nbsp; **113001974** |

---

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

---

| | |
|:---|:---|
| **Call Option Contracts Purchased 0.0%** | **Call Option Contracts Purchased 0.0%** |
|  | **Value ($)** |
| (Cost $1,331,149) | &nbsp;&nbsp; **1236256** |

---

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

---

| | | |
|:---|:---|:---|
| **Money Market Funds 0.8%** | **Money Market Funds 0.8%** | **Money Market Funds 0.8%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.777%<sup>(g),(h)</sup> <br>| &nbsp;&nbsp; 54531246 | &nbsp;&nbsp; 54520340 |
| Total Money Market Funds <br>(Cost $54,511,659) | Total Money Market Funds <br>(Cost $54,511,659) | &nbsp;&nbsp; **54520340** |
| **Total Investments in Securities** <br>**(Cost $5,028,483,546)** | **Total Investments in Securities** <br>**(Cost $5,028,483,546)** | &nbsp;&nbsp; **6876405697** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(13620892)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$6862784805** |

---

At February 28, 2026, securities and/or cash totaling $68,306,024 were pledged as collateral.

**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>|
| 36,401,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp; 26,867,504 USD | Barclays | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 148805 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 453,895,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp; 332,385,985 USD | Barclays | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (777501)<br>|
| 13,480,618 USD | &nbsp;&nbsp;&nbsp;&nbsp; 10,384,000 CHF | Barclays | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 73159 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 20,150,798 USD | &nbsp;&nbsp;&nbsp;&nbsp; 16,934,000 EUR | Barclays | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (110131)<br>|
| 78,017,656 USD | &nbsp;&nbsp;&nbsp;&nbsp; 701,250,000 SEK | Barclays | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (205242)<br>|
| 316,170,000 NOK | &nbsp;&nbsp;&nbsp;&nbsp; 32,434,346 USD | Citi | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (811944)<br>|
| 195,564,290 USD | &nbsp;&nbsp;&nbsp;&nbsp; 165,294,000 EUR | Citi | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 54106 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 48,191,418,000 KRW | &nbsp;&nbsp;&nbsp;&nbsp; 33,771,141 USD | Goldman Sachs International | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 278684 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 85,441,797,000 KRW | &nbsp;&nbsp;&nbsp;&nbsp; 58,447,718 USD | Goldman Sachs International | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (933305)<br>|
| 129,023,000 NOK | &nbsp;&nbsp;&nbsp;&nbsp; 13,508,164 USD | Goldman Sachs International | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (59018)<br>|
| 324,297,950 USD | &nbsp;&nbsp;&nbsp;&nbsp; 465,544,000 AUD | HSBC | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6967331 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 18,296,213,000 JPY | &nbsp;&nbsp;&nbsp;&nbsp; 117,316,506 USD | JPMorgan | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (135759)<br>|
| 57,899,000 SGD | &nbsp;&nbsp;&nbsp;&nbsp; 45,644,645 USD | Morgan Stanley | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (232197)<br>|
| 13,529,768 USD | &nbsp;&nbsp;&nbsp;&nbsp; 19,001,000 AUD | Morgan Stanley | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9303)<br>|
| 13,434,676 USD | &nbsp;&nbsp;&nbsp;&nbsp; 18,856,000 AUD | Morgan Stanley | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (17387)<br>|
| 343,533,535 USD | &nbsp;&nbsp;&nbsp;&nbsp; 252,804,000 GBP | Morgan Stanley | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2811551)<br>|
| 151,666,000 NZD | &nbsp;&nbsp;&nbsp;&nbsp; 91,211,174 USD | State Street | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 123911 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 208,662,089 USD | &nbsp;&nbsp;&nbsp;&nbsp; 161,082,000 CHF | State Street | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1591135 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 32,581,494 USD | &nbsp;&nbsp;&nbsp;&nbsp; 205,599,000 DKK | UBS | 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8327)<br>|
| Total |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9237131 | &nbsp;&nbsp;&nbsp;&nbsp; (6111665)<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; 10955215 | &nbsp;&nbsp; 5519 | 20.00 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; 1331149 | &nbsp;&nbsp; 1236256 |

---

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

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

Columbia Overseas Value Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 ($)**<br>| **Value ($)** |
| Energy Fuels, Inc. | Morgan Stanley | USD | &nbsp;&nbsp; (9466080)<br>| &nbsp;&nbsp; (4440)<br>| 30.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (268914)<br>| &nbsp;&nbsp; (128760)<br>|
| Energy Fuels, Inc. | Morgan Stanley | USD | &nbsp;&nbsp; (9466080)<br>| &nbsp;&nbsp; (4440)<br>| 28.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (406688)<br>| &nbsp;&nbsp; (193140)<br>|
| Pan American Silver Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (10215690)<br>| &nbsp;&nbsp; (1487)<br>| 75.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (225245)<br>| &nbsp;&nbsp; (278813)<br>|
| Pan American Silver Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (10215690)<br>| &nbsp;&nbsp; (1487)<br>| 70.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (388816)<br>| &nbsp;&nbsp; (505580)<br>|
| Primo Brands Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (27724032)<br>| &nbsp;&nbsp; (12224)<br>| 25.00 | &nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp; (204584)<br>| &nbsp;&nbsp; (275040)<br>|
| Total |  |  |  |  |  |  | &nbsp;&nbsp; (1494247)<br>| &nbsp;&nbsp; (1381333)<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) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At February 28, 2026, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. At February 28, 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 ($)** | **Value ($)** |
| Lukoil PJSC | 01/25/2022-01/26/2022 | &nbsp;&nbsp; 106132 | &nbsp;&nbsp; 8693218 | &nbsp;&nbsp; — |

---

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(g) The rate shown is the seven-day current annualized yield at February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(h) 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 year ended February 28, 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, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% | Columbia Short-Term Cash Fund, 3.777% |
|  | 6022145 | &nbsp;&nbsp; 2388406468 | &nbsp;&nbsp; (2339916341)<br>| &nbsp;&nbsp; 8068 | &nbsp;&nbsp; 54520340 | &nbsp;&nbsp; (18122)<br>| &nbsp;&nbsp; 1641474 | &nbsp;&nbsp; 54531246 |

---

**Abbreviation Legend** 

ADR American Depositary Receipt

**Currency Legend** 

---

| | |
|:---|:---|
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |

---

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

Columbia Overseas Value Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Currency Legend (continued)**

SGD Singapore 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 February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Australia |  | &nbsp;&nbsp;&nbsp;&nbsp; 250768095 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 250768095 |
| Belgium | 24058384 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24058384 |
| Brazil | 106412579 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 106412579 |
| Canada | 302928310 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 302928310 |
| China |  | &nbsp;&nbsp;&nbsp;&nbsp; 127462929 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 127462929 |
| Finland |  | &nbsp;&nbsp;&nbsp;&nbsp; 67516683 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 67516683 |
| France |  | &nbsp;&nbsp;&nbsp;&nbsp; 579700898 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 579700898 |
| Germany | 70966797 | &nbsp;&nbsp;&nbsp;&nbsp; 166905386 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 237872183 |
| Greece | 125504843 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 125504843 |
| Hong Kong | 100611566 | &nbsp;&nbsp;&nbsp;&nbsp; 198754341 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 299365907 |
| Ireland |  | &nbsp;&nbsp;&nbsp;&nbsp; 125430498 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 125430498 |

---

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

Columbia Overseas Value Fund \| 2026

------

Portfolio of Investments (continued)

February 28, 2026

**Fair value measurements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| Israel | 89985293 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 89985293 |
| Italy |  | &nbsp;&nbsp;&nbsp;&nbsp; 213320424 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 213320424 |
| Japan | 87499662 | &nbsp;&nbsp;&nbsp;&nbsp; 1417567552 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1505067214 |
| Jersey |  | &nbsp;&nbsp;&nbsp;&nbsp; 66920318 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 66920318 |
| Kazakhstan | 30285581 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30285581 |
| Netherlands | 61356353 | &nbsp;&nbsp;&nbsp;&nbsp; 280022586 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 341378939 |
| Norway |  | &nbsp;&nbsp;&nbsp;&nbsp; 186581586 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 186581586 |
| Poland |  | &nbsp;&nbsp;&nbsp;&nbsp; 69363670 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 69363670 |
| Russian Federation |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>|
| Singapore | 53559813 | &nbsp;&nbsp;&nbsp;&nbsp; 77306383 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 130866196 |
| South Africa | 25387366 | &nbsp;&nbsp;&nbsp;&nbsp; 57225203 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 82612569 |
| South Korea |  | &nbsp;&nbsp;&nbsp;&nbsp; 41717867 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 41717867 |
| Spain |  | &nbsp;&nbsp;&nbsp;&nbsp; 274130290 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 274130290 |
| Switzerland |  | &nbsp;&nbsp;&nbsp;&nbsp; 78325862 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 78325862 |
| Turkey |  | &nbsp;&nbsp;&nbsp;&nbsp; 27319335 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27319335 |
| United Arab Emirates |  | &nbsp;&nbsp;&nbsp;&nbsp; 109122040 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 109122040 |
| United Kingdom | 61013106 | &nbsp;&nbsp;&nbsp;&nbsp; 473518539 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 534531645 |
| United States | 407378167 | &nbsp;&nbsp;&nbsp;&nbsp; 271718822 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 679096989 |
| Total Common Stocks | 1546947820 | &nbsp;&nbsp;&nbsp;&nbsp; 5160699307 | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6707647127 |
| Exchange-Traded Equity Funds | 113001974 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 113001974 |
| Call Option Contracts Purchased | 1236256 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1236256 |
| Money Market Funds | 54520340 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 54520340 |
| Total Investments in Securities | 1715706390 | &nbsp;&nbsp;&nbsp;&nbsp; 5160699307 | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6876405697 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Forward Foreign Currency Exchange Contracts |  | &nbsp;&nbsp;&nbsp;&nbsp; 9237131 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9237131 |
| Liability |  |  |  |  |
| Forward Foreign Currency Exchange Contracts |  | &nbsp;&nbsp;&nbsp;&nbsp; (6111665)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6111665)<br>|
| Call Option Contracts Written | (1381333)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1381333)<br>|
| Total | 1714325057 | &nbsp;&nbsp;&nbsp;&nbsp; 5163824773 | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6878149830 |

---

&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.

Forward foreign currency exchange 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 Overseas Value Fund \| 2026

------

Statement of Assets and Liabilities

February 28, 2026

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $4,972,640,738) | $6820649101 |
| Affiliated issuers (cost $54,511,659) | 54520340 |
| Option contracts purchased (cost $1,331,149) | 1236256 |
| Cash | 204584 |
| Cash collateral held at broker for: |  |
| Forward foreign currency exchange contracts | 1210000 |
| Unrealized appreciation on forward foreign currency exchange contracts | 9237131 |
| Receivable for: |  |
| Capital shares sold | 7677732 |
| Dividends | 9645685 |
| Foreign tax reclaims | 7550808 |
| Expense reimbursement due from Investment Manager | 2687 |
| Prepaid expenses | 8290 |
| Total assets | 6911942614 |
| **Liabilities** |  |
| Option contracts written, at value (premiums received $1,494,247) | 1381333 |
| Unrealized depreciation on forward foreign currency exchange contracts | 6111665 |
| Payable for: |  |
| Investments purchased | 31512594 |
| Capital shares redeemed | 7957430 |
| Management services fees | 136538 |
| Distribution and/or service fees | 3854 |
| Transfer agent fees | 450851 |
| Compensation of chief compliance officer | 935 |
| IRS Closing Agreement for European Union tax reclaim | 809498 |
| Compensation of board members | 7746 |
| Other expenses | 453113 |
| Deferred compensation of board members | 332252 |
| Total liabilities | 49157809 |
| **Net assets applicable to outstanding capital stock** | **$6862784805** |
| **Represented by** |  |
| Paid in capital | 5108441882 |
| Total distributable earnings (loss) | 1754342923 |
| **Total - representing net assets applicable to outstanding capital stock** | **$6862784805** |

---

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

Columbia Overseas Value Fund \| 2026

------

Statement of Assets and Liabilities (continued)

February 28, 2026

---

| | |
|:---|:---|
| **Class A** |  |
| Net assets | $470327165 |
| Shares outstanding | 29546124 |
| Net asset value per share | $15.92 |
| 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) | $16.89 |
| **Class C** |  |
| Net assets | $14972573 |
| Shares outstanding | 952573 |
| Net asset value per share | $15.72 |
| **Institutional Class** |  |
| Net assets | $3092627149 |
| Shares outstanding | 193543552 |
| Net asset value per share | $15.98 |
| **Institutional 2 Class** |  |
| Net assets | $1604964948 |
| Shares outstanding | 101149843 |
| Net asset value per share | $15.87 |
| **Institutional 3 Class** |  |
| Net assets | $1646051942 |
| Shares outstanding | 103546307 |
| Net asset value per share | $15.90 |
| **Class R** |  |
| Net assets | $17066863 |
| Shares outstanding | 1107804 |
| Net asset value per share | $15.41 |
| **Class S** |  |
| Net assets | $16774165 |
| Shares outstanding | 1049821 |
| Net asset value per share | $15.98 |

---

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

Columbia Overseas Value Fund \| 2026

------

Statement of Operations

Year Ended February 28, 2026

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $182472509 |
| Dividends — affiliated issuers | 1641474 |
| Interfund lending | 2259 |
| European Union tax reclaim | 4768222 |
| Foreign taxes withheld | (13704000)<br>|
| Total income | 175180464 |
| Expenses: |  |
| Management services fees | 36638729 |
| Distribution and/or service fees |  |
| Class A | 916516 |
| Class C | 120084 |
| Class R | 74943 |
| Transfer agent fees |  |
| Class A | 478338 |
| Class C | 15660 |
| Institutional Class | 2493109 |
| Institutional 2 Class | 702124 |
| Institutional 3 Class | 66756 |
| Class R | 19567 |
| Class S | 18832 |
| Custodian fees | 648910 |
| Printing and postage fees | 490370 |
| Registration fees | 317083 |
| Accounting services fees | 41188 |
| Legal fees | 90150 |
| Interest on collateral | 2817 |
| Interest on interfund lending | 4625 |
| Compensation of chief compliance officer | 892 |
| Compensation of board members | 61379 |
| Deferred compensation of board members | 56243 |
| Other | 354563 |
| Total expenses | 43612878 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (719033)<br>|
| Fees waived by transfer agent |  |
| Institutional 2 Class | (20314)<br>|
| Institutional 3 Class | (23487)<br>|
| Expense reduction | (160)<br>|
| Total net expenses | 42849884 |
| **Net investment income** | 132330580 |

---

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

Columbia Overseas Value Fund \| 2026

------

Statement of Operations (continued)

Year Ended February 28, 2026

---

| | |
|:---|:---|
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | $528810711 |
| Investments — affiliated issuers | (18122)<br>|
| Foreign currency translations | (974691)<br>|
| Forward foreign currency exchange contracts | 64569385 |
| Option contracts purchased | 1012974 |
| Option contracts written | 6309421 |
| Net realized gain | 599709678 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 1339645188 |
| Investments — affiliated issuers | 8068 |
| Foreign currency translations | 843229 |
| Forward foreign currency exchange contracts | 1837687 |
| Option contracts purchased | (94893)<br>|
| Option contracts written | 112914 |
| Net change in unrealized appreciation (depreciation) | 1342352193 |
| Net realized and unrealized gain | 1942061871 |
| **Net increase in net assets resulting from operations** | **$2074392451** |

---

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

Columbia Overseas Value Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**February 28, 2026**<br>| **Year Ended** <br>**February 28, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $132330580 | &nbsp;&nbsp; $96410636 |
| Net realized gain | 599709678 | &nbsp;&nbsp; 35342666 |
| Net change in unrealized appreciation (depreciation) | 1342352193 | &nbsp;&nbsp; 337651067 |
| Net increase in net assets resulting from operations | 2074392451 | &nbsp;&nbsp; 469404369 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (28910708)<br>| &nbsp;&nbsp; (14639932)<br>|
| Advisor Class |  | &nbsp;&nbsp; (7983056)<br>|
| Class C | (866462)<br>| &nbsp;&nbsp; (473737)<br>|
| Institutional Class | (188782345)<br>| &nbsp;&nbsp; (42323697)<br>|
| Institutional 2 Class | (108919343)<br>| &nbsp;&nbsp; (39103974)<br>|
| Institutional 3 Class | (109490088)<br>| &nbsp;&nbsp; (53620912)<br>|
| Class R | (1122735)<br>| &nbsp;&nbsp; (682278)<br>|
| Class S | (1149104)<br>| &nbsp;&nbsp; (432553)<br>|
| Total distributions to shareholders | (439240785)<br>| &nbsp;&nbsp; (159260139)<br>|
| Increase in net assets from capital stock activity | 2010601266 | &nbsp;&nbsp; 3826573 |
| Total increase in net assets | 3645752932 | &nbsp;&nbsp; 313970803 |
| Net assets at beginning of year | 3217031873 | &nbsp;&nbsp; 2903061070 |
| **Net assets at end of year** | **$6862784805** | &nbsp;&nbsp; **$3217031873** |

---

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

Columbia Overseas Value Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **February 28, 2026**  | **February 28, 2026**  | **February 28, 2025**  | **February 28, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 6366729 | &nbsp;&nbsp;&nbsp;&nbsp; 88111733 | &nbsp;&nbsp;&nbsp;&nbsp; 3191704 | &nbsp;&nbsp;&nbsp;&nbsp; 35085011 |
| Distributions reinvested | 1992245 | &nbsp;&nbsp;&nbsp;&nbsp; 28030888 | &nbsp;&nbsp;&nbsp;&nbsp; 1327014 | &nbsp;&nbsp;&nbsp;&nbsp; 14174490 |
| Shares redeemed | (5527011)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (74357580)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5796192)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (63432745)<br>|
| Net increase (decrease) | 2831963 | &nbsp;&nbsp;&nbsp;&nbsp; 41785041 | &nbsp;&nbsp;&nbsp;&nbsp; (1277474)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14173244)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7757646 | &nbsp;&nbsp;&nbsp;&nbsp; 85033245 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 752951 | &nbsp;&nbsp;&nbsp;&nbsp; 7981282 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (55780110)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (616275239)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (47269513)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (523260712)<br>|
| Class C |  |  |  |  |
| Shares sold | 418190 | &nbsp;&nbsp;&nbsp;&nbsp; 5680973 | &nbsp;&nbsp;&nbsp;&nbsp; 67647 | &nbsp;&nbsp;&nbsp;&nbsp; 731280 |
| Distributions reinvested | 62246 | &nbsp;&nbsp;&nbsp;&nbsp; 866462 | &nbsp;&nbsp;&nbsp;&nbsp; 44780 | &nbsp;&nbsp;&nbsp;&nbsp; 473672 |
| Shares redeemed | (424468)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5716712)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (527753)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5713317)<br>|
| Net increase (decrease) | 55968 | &nbsp;&nbsp;&nbsp;&nbsp; 830723 | &nbsp;&nbsp;&nbsp;&nbsp; (415326)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4508365)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 122374191 | &nbsp;&nbsp;&nbsp;&nbsp; 1706506236 | &nbsp;&nbsp;&nbsp;&nbsp; 56952037 | &nbsp;&nbsp;&nbsp;&nbsp; 632527066 |
| Distributions reinvested | 13346295 | &nbsp;&nbsp;&nbsp;&nbsp; 188449677 | &nbsp;&nbsp;&nbsp;&nbsp; 3934057 | &nbsp;&nbsp;&nbsp;&nbsp; 42189763 |
| Shares redeemed | (31250800)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (430964404)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (17438386)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (192244381)<br>|
| Net increase | 104469686 | &nbsp;&nbsp;&nbsp;&nbsp; 1463991509 | &nbsp;&nbsp;&nbsp;&nbsp; 43447708 | &nbsp;&nbsp;&nbsp;&nbsp; 482472448 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 49369310 | &nbsp;&nbsp;&nbsp;&nbsp; 625071752 | &nbsp;&nbsp;&nbsp;&nbsp; 12381046 | &nbsp;&nbsp;&nbsp;&nbsp; 135635699 |
| Distributions reinvested | 7754988 | &nbsp;&nbsp;&nbsp;&nbsp; 108724937 | &nbsp;&nbsp;&nbsp;&nbsp; 3665902 | &nbsp;&nbsp;&nbsp;&nbsp; 39002490 |
| Shares redeemed | (25316096)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (348669125)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (19065468)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (209589463)<br>|
| Net increase (decrease) | 31808202 | &nbsp;&nbsp;&nbsp;&nbsp; 385127564 | &nbsp;&nbsp;&nbsp;&nbsp; (3018520)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (34951274)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 29142643 | &nbsp;&nbsp;&nbsp;&nbsp; 396648441 | &nbsp;&nbsp;&nbsp;&nbsp; 20230977 | &nbsp;&nbsp;&nbsp;&nbsp; 221270138 |
| Distributions reinvested | 5348924 | &nbsp;&nbsp;&nbsp;&nbsp; 75098895 | &nbsp;&nbsp;&nbsp;&nbsp; 2262304 | &nbsp;&nbsp;&nbsp;&nbsp; 24109564 |
| Shares redeemed | (25996622)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (350187918)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14481705)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (158982275)<br>|
| Net increase | 8494945 | &nbsp;&nbsp;&nbsp;&nbsp; 121559418 | &nbsp;&nbsp;&nbsp;&nbsp; 8011576 | &nbsp;&nbsp;&nbsp;&nbsp; 86397427 |
| Class R |  |  |  |  |
| Shares sold | 289980 | &nbsp;&nbsp;&nbsp;&nbsp; 3931441 | &nbsp;&nbsp;&nbsp;&nbsp; 307216 | &nbsp;&nbsp;&nbsp;&nbsp; 3274341 |
| Distributions reinvested | 82188 | &nbsp;&nbsp;&nbsp;&nbsp; 1120225 | &nbsp;&nbsp;&nbsp;&nbsp; 65762 | &nbsp;&nbsp;&nbsp;&nbsp; 681983 |
| Shares redeemed | (526833)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6999151)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (462001)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4926067)<br>|
| Net decrease | (154665)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1947485)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (89023)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (969743)<br>|
| Class S |  |  |  |  |
| Shares sold | 30830 | &nbsp;&nbsp;&nbsp;&nbsp; 397952 | &nbsp;&nbsp;&nbsp;&nbsp; 1159319 | &nbsp;&nbsp;&nbsp;&nbsp; 13402304 |
| Distributions reinvested | 81381 | &nbsp;&nbsp;&nbsp;&nbsp; 1149104 | &nbsp;&nbsp;&nbsp;&nbsp; 40312 | &nbsp;&nbsp;&nbsp;&nbsp; 432553 |
| Shares redeemed | (170053)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2292560)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (91968)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1014821)<br>|
| Net increase (decrease) | (57842)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (745504)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1107663 | &nbsp;&nbsp;&nbsp;&nbsp; 12820036 |
| **Total net increase** | **147448257** | &nbsp;&nbsp;&nbsp;&nbsp; **2010601266** | &nbsp;&nbsp;&nbsp;&nbsp; **497091** | &nbsp;&nbsp;&nbsp;&nbsp; **3826573** |

---

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

Columbia Overseas Value Fund \| 2026

------

[THIS PAGE INTENTIONALLY LEFT BLANK]

Columbia Overseas 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 (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | $11.36 | 0.35 <br><sup>(c)</sup><br>| 5.31 | 5.66 | &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (1.10)<br>|
| Year Ended 2/28/2025 | $10.28 | 0.31 <br><sup>(c)</sup><br>| 1.31 | 1.62 | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.54)<br>|
| Year Ended 2/29/2024 | $9.95 | 0.33 <br><sup>(c)</sup><br>| 0.39 | 0.72 | &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.39)<br>|
| Year Ended 2/28/2023 | $10.11 | 0.24 | &nbsp;&nbsp; (0.24)<br>| 0.00 | &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.16)<br>|
| Year Ended 2/28/2022 | $9.99 | 0.23 | 0.23 | 0.46 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.34)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 2/28/2026 | $11.25 | 0.25 <br><sup>(c)</sup><br>| 5.23 | 5.48 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (1.01)<br>|
| Year Ended 2/28/2025 | $10.18 | 0.25 <br><sup>(c)</sup><br>| 1.28 | 1.53 | &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.46)<br>|
| Year Ended 2/29/2024 | $9.86 | 0.25 <br><sup>(c)</sup><br>| 0.39 | 0.64 | &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.32)<br>|
| Year Ended 2/28/2023 | $10.03 | 0.17 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.10)<br>|
| Year Ended 2/28/2022 | $9.91 | 0.16 | 0.22 | 0.38 | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.26)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | $11.39 | 0.34 <br><sup>(c)</sup><br>| 5.37 | 5.71 | &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (1.12)<br>|
| Year Ended 2/28/2025 | $10.30 | 0.28 <br><sup>(c)</sup><br>| 1.38 | 1.66 | &nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.57)<br>|
| Year Ended 2/29/2024 | $9.98 | 0.35 <br><sup>(c)</sup><br>| 0.39 | 0.74 | &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.42)<br>|
| Year Ended 2/28/2023 | $10.13 | 0.25 | &nbsp;&nbsp; (0.22)<br>| 0.03 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.18)<br>|
| Year Ended 2/28/2022 | $10.01 | 0.26 | 0.23 | 0.49 | &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.37)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | $11.32 | 0.39 <br><sup>(c)</sup><br>| 5.29 | 5.68 | &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (1.13)<br>|
| Year Ended 2/28/2025 | $10.24 | 0.35 <br><sup>(c)</sup><br>| 1.31 | 1.66 | &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.58)<br>|
| Year Ended 2/29/2024 | $9.92 | 0.36 <br><sup>(c)</sup><br>| 0.39 | 0.75 | &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 2/28/2023 | $10.07 | 0.26 | &nbsp;&nbsp; (0.22)<br>| 0.04 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.19)<br>|
| Year Ended 2/28/2022 | $9.95 | 0.27 | 0.23 | 0.50 | &nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.38)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | $11.34 | 0.39 <br><sup>(c)</sup><br>| 5.31 | 5.70 | &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (1.14)<br>|
| Year Ended 2/28/2025 | $10.26 | 0.35 <br><sup>(c)</sup><br>| 1.31 | 1.66 | &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.58)<br>|
| Year Ended 2/29/2024 | $9.93 | 0.36 <br><sup>(c)</sup><br>| 0.40 | 0.76 | &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 2/28/2023 | $10.08 | 0.26 | &nbsp;&nbsp; (0.22)<br>| 0.04 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.19)<br>|
| Year Ended 2/28/2022 | $9.96 | 0.26 | 0.24 | 0.50 | &nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.38)<br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | $11.03 | 0.32 <br><sup>(c)</sup><br>| 5.13 | 5.45 | &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (1.07)<br>|
| Year Ended 2/28/2025 | $9.99 | 0.28 <br><sup>(c)</sup><br>| 1.27 | 1.55 | &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.51)<br>|
| Year Ended 2/29/2024 | $9.68 | 0.30 <br><sup>(c)</sup><br>| 0.38 | 0.68 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.37)<br>|
| Year Ended 2/28/2023 | $9.84 | 0.20 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.14)<br>|
| Year Ended 2/28/2022 | $9.73 | 0.19 | 0.24 | 0.43 | &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.32)<br>|

---

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

Columbia Overseas Value 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; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.92 | &nbsp;&nbsp;&nbsp;&nbsp; 51.05%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.16% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.15% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 57% | &nbsp;&nbsp;&nbsp;&nbsp; $470327 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.36 | &nbsp;&nbsp;&nbsp;&nbsp; 16.13%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.19% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.16% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.85% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $303469 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $10.28 | &nbsp;&nbsp;&nbsp;&nbsp; 7.33%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.21% <br><sup>(d),(e),(g)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.15% <br><sup>(d),(e),(f),(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.24% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $287680 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.95 | &nbsp;&nbsp;&nbsp;&nbsp; 0.15%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.22% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.16% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.53% | &nbsp;&nbsp;&nbsp;&nbsp; 36% | &nbsp;&nbsp;&nbsp;&nbsp; $300207 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $10.11 | &nbsp;&nbsp;&nbsp;&nbsp; 4.65%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.21% <br><sup>(d)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.15% <br><sup>(d),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.20% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $338513 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.72 | &nbsp;&nbsp;&nbsp;&nbsp; 49.89%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.91% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.90% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.84% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 57% | &nbsp;&nbsp;&nbsp;&nbsp; $14973 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.25 | &nbsp;&nbsp;&nbsp;&nbsp; 15.32%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.94% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.91% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.27% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $10084 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $10.18 | &nbsp;&nbsp;&nbsp;&nbsp; 6.52%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.96% <br><sup>(d),(e),(g)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.90% <br><sup>(d),(e),(f),(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.53% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $13356 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.86 | &nbsp;&nbsp;&nbsp;&nbsp; (0.56%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.97% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.91% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.82% | &nbsp;&nbsp;&nbsp;&nbsp; 36% | &nbsp;&nbsp;&nbsp;&nbsp; $15532 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $10.03 | &nbsp;&nbsp;&nbsp;&nbsp; 3.88%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.96% <br><sup>(d)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.90% <br><sup>(d),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.50% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $19243 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.98 | &nbsp;&nbsp;&nbsp;&nbsp; 51.46%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.92% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.43% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 57% | &nbsp;&nbsp;&nbsp;&nbsp; $3092627 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.39 | &nbsp;&nbsp;&nbsp;&nbsp; 16.49%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.91% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.54% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $1014794 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $10.30 | &nbsp;&nbsp;&nbsp;&nbsp; 7.48%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(d),(e),(g)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(d),(e),(f),(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.48% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $470143 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.98 | &nbsp;&nbsp;&nbsp;&nbsp; 0.46%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.91% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.72% | &nbsp;&nbsp;&nbsp;&nbsp; 36% | &nbsp;&nbsp;&nbsp;&nbsp; $489364 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $10.13 | &nbsp;&nbsp;&nbsp;&nbsp; 4.91%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(d)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(d),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.40% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $518966 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.87 | &nbsp;&nbsp;&nbsp;&nbsp; 51.52%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.84% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.88% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 57% | &nbsp;&nbsp;&nbsp;&nbsp; $1604965 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.32 | &nbsp;&nbsp;&nbsp;&nbsp; 16.59%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.86% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.21% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $784726 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $10.24 | &nbsp;&nbsp;&nbsp;&nbsp; 7.61%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.87% <br><sup>(d),(e),(g)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(d),(e),(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.60% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $740968 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.92 | &nbsp;&nbsp;&nbsp;&nbsp; 0.53%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.85% | &nbsp;&nbsp;&nbsp;&nbsp; 36% | &nbsp;&nbsp;&nbsp;&nbsp; $660833 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $10.07 | &nbsp;&nbsp;&nbsp;&nbsp; 5.02%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(d)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.52% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $716539 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.90 | &nbsp;&nbsp;&nbsp;&nbsp; 51.58%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.79% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.89% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 57% | &nbsp;&nbsp;&nbsp;&nbsp; $1646052 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.34 | &nbsp;&nbsp;&nbsp;&nbsp; 16.62%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.16% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $1077420 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $10.26 | &nbsp;&nbsp;&nbsp;&nbsp; 7.75%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(d),(e),(g)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d),(e),(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.55% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $892665 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.93 | &nbsp;&nbsp;&nbsp;&nbsp; 0.57%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.81% | &nbsp;&nbsp;&nbsp;&nbsp; 36% | &nbsp;&nbsp;&nbsp;&nbsp; $791531 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $10.08 | &nbsp;&nbsp;&nbsp;&nbsp; 5.07%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(d)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.46% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $721028 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.41 | &nbsp;&nbsp;&nbsp;&nbsp; 50.66%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.41% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.40% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.44% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 57% | &nbsp;&nbsp;&nbsp;&nbsp; $17067 |
| Year Ended 2/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.03 | &nbsp;&nbsp;&nbsp;&nbsp; 15.91%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.44% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.41% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.61% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $13921 |
| Year Ended 2/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.99 | &nbsp;&nbsp;&nbsp;&nbsp; 7.06%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.46% <br><sup>(d),(e),(g)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.40% <br><sup>(d),(e),(f),(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.04% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $13501 |
| Year Ended 2/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.68 | &nbsp;&nbsp;&nbsp;&nbsp; (0.05%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.47% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.41% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.25% | &nbsp;&nbsp;&nbsp;&nbsp; 36% | &nbsp;&nbsp;&nbsp;&nbsp; $13962 |
| Year Ended 2/28/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.84 | &nbsp;&nbsp;&nbsp;&nbsp; 4.40%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.47% <br><sup>(d)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.40% <br><sup>(d),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.84% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $15567 |

---

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

Columbia Overseas Value 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>**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 S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | $11.39<br> 0.39 <br><sup>(c)</sup><br>| 5.32 | 5.71 | &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (1.12)<br>|
| Year Ended 2/28/2025<sup>(h)</sup> <br>| $11.57<br> 0.05 <br><sup>(c)</sup><br>| 0.17 | 0.22 | &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.40)<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. The effect of these amounted to: |

---

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

---

| | | |
|:---|:---|:---|
| **Class** | **Net Investment income per share ($)** | **Net Investment income ratio (%)** |
| **Year Ended 2/28/2026** |  |  |
| Class A | 0.01 | 0.10 |
| Class C | 0.01 | 0.10 |
| Institutional Class | 0.01 | 0.10 |
| Institutional 2 Class | 0.01 | 0.10 |
| Institutional 3 Class | 0.01 | 0.10 |
| Class R | 0.01 | 0.10 |
| Class S | 0.01 | 0.10 |
| **Year Ended 2/28/2025** |  |  |
| Class A | 0.02 | 0.15 |
| Class C | 0.02 | 0.15 |
| Institutional Class | 0.02 | 0.15 |
| Institutional 2 Class | 0.02 | 0.15 |
| Institutional 3 Class | 0.02 | 0.15 |
| Class R | 0.02 | 0.15 |
| Class S | 0.01 | 0.15 |
| **Year Ended 2/29/2024** |  |  |
| Class A | 0.04 | 0.37 |
| Class C | 0.04 | 0.37 |
| Institutional Class | 0.04 | 0.37 |
| Institutional 2 Class | 0.04 | 0.37 |
| Institutional 3 Class | 0.04 | 0.37 |
| Class R | 0.04 | 0.37 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) Ratios include interest on collateral expense which is less than 0.01%.

&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%.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Ratios include line of credit interest expense which is less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;(h) 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 Overseas Value Fund \| 2026

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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; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 2/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $15.98 | &nbsp;&nbsp;&nbsp;&nbsp; 51.46%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.91% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(d),(e),(f)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 2.86% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 57% | &nbsp;&nbsp;&nbsp;&nbsp; $16774 |
|  Year Ended 2/28/2025 <br><sup>(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $11.39 | &nbsp;&nbsp;&nbsp;&nbsp; 2.08%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.91% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.02% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $12619 |

---

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

Columbia Overseas Value Fund \| 2026

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Notes to Financial Statements

February 28, 2026

Note 1. Organization

Columbia Overseas Value Fund (the Fund), a series of Columbia Funds Series Trust (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 Delaware statutory trust.

**Fund shares**

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

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

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 Overseas Value Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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.

Forward foreign currency exchange contracts are marked-to-market based upon foreign currency exchange rates provided by a pricing service.

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.

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.

**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

Columbia Overseas Value Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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 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

Columbia Overseas Value Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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.

**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

Columbia Overseas Value Fund \| 2026

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Notes to Financial Statements (continued)

February 28, 2026

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.

**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 February 28, 2026:

---

| | | |
|:---|:---|:---|
|  | **Asset derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Equity risk | Investments, at value — Option contracts purchased | &nbsp;&nbsp;&nbsp;&nbsp; 1236256 |
| Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; 9237131 |
| Total |  | &nbsp;&nbsp;&nbsp;&nbsp; 10473387 |

---

&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 | Option contracts written, at value | &nbsp;&nbsp;&nbsp;&nbsp; 1381333 |
| Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; 6111665 |
| Total |  | &nbsp;&nbsp;&nbsp;&nbsp; 7492998 |

---

Columbia Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the year ended February 28, 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** |
| **Risk exposure category** | **Forward** <br>**foreign** <br>**currency** <br>**exchange** <br>**contracts** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Option** <br>**contracts** <br>**purchased** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Option** <br>**contracts** <br>**written** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1012974 | &nbsp;&nbsp;&nbsp;&nbsp; 6309421 | &nbsp;&nbsp;&nbsp;&nbsp; 7322395 |
| Foreign exchange risk | &nbsp;&nbsp; 64569385 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 64569385 |
| Total | &nbsp;&nbsp; 64569385 | &nbsp;&nbsp;&nbsp;&nbsp; 1012974 | &nbsp;&nbsp;&nbsp;&nbsp; 6309421 | &nbsp;&nbsp;&nbsp;&nbsp; 71891780 |
| **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>**($)**<br>| &nbsp;&nbsp;&nbsp; **Option** <br>**contracts** <br>**purchased** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Option** <br>**contracts** <br>**written** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (94893)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 112914 | &nbsp;&nbsp;&nbsp;&nbsp; 18021 |
| Foreign exchange risk | &nbsp;&nbsp; 1837687 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1837687 |
| Total | &nbsp;&nbsp; 1837687 | &nbsp;&nbsp;&nbsp;&nbsp; (94893)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 112914 | &nbsp;&nbsp;&nbsp;&nbsp; 1855708 |

---

The following table is a summary of the average daily outstanding volume by derivative instrument for the year ended February 28, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average** <br>**value ($)**<br>|
| Option contracts purchased | 591178 |
| Option contracts written | (763519)<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; 13348227 | &nbsp;&nbsp;&nbsp;&nbsp; (9148728)<br>|

---

Columbia Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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 February 28, 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>| **State** <br>**Street**<br>| **UBS** | **Total** |
| **Assets** |  |  |  |  |  |  |  |  |  |  |
| Forward foreign currency <br> exchange contracts<br>| $&nbsp;&nbsp; 221964<br>| &nbsp;&nbsp; 54106<br>| &nbsp;&nbsp; 278684<br>| &nbsp;&nbsp; 6967331<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1715046<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 9237131<br>|
| Call option contracts purchased | &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1236256<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1236256<br>|
| Total assets | &nbsp;&nbsp; 221964<br>| &nbsp;&nbsp; 54106<br>| &nbsp;&nbsp; 278684<br>| &nbsp;&nbsp; 6967331<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1236256<br>| &nbsp;&nbsp; 1715046<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 10473387<br>|
| **Liabilities** |  |  |  |  |  |  |  |  |  |  |
| Forward foreign currency <br> exchange contracts<br>| &nbsp;&nbsp; 1092874<br>| &nbsp;&nbsp; 811944<br>| &nbsp;&nbsp; 992323<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 135759<br>| &nbsp;&nbsp; 3070438<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 8327<br>| &nbsp;&nbsp; 6111665<br>|
| Call option contracts written | &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1381333<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1381333<br>|
| Total liabilities | &nbsp;&nbsp; 1092874<br>| &nbsp;&nbsp; 811944<br>| &nbsp;&nbsp; 992323<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 135759<br>| &nbsp;&nbsp; 3070438<br>| &nbsp;&nbsp; 1381333<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 8327<br>| &nbsp;&nbsp; 7492998<br>|
| **Total financial and derivative net** <br> **assets**<br>| &nbsp;&nbsp; **(870910)**<br>| &nbsp;&nbsp; **(757838)**<br>| &nbsp;&nbsp; **(713639)**<br>| &nbsp;&nbsp; **6967331**<br>| &nbsp;&nbsp; **(135759)**<br>| &nbsp;&nbsp; **(3070438)**<br>| &nbsp;&nbsp; **(145077)**<br>| &nbsp;&nbsp; **1715046**<br>| &nbsp;&nbsp; **(8327)**<br>| &nbsp;&nbsp; **2980389**<br>|
| Total collateral received <br> (pledged) <sup>(b)</sup> <br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; (713639)<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; (145077)<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; (858716)<br>|
| **Net amount** <sup>(c)</sup> <br>| $&nbsp;&nbsp; **(870910)**<br>| &nbsp;&nbsp; **(757838)**<br>| &nbsp;&nbsp; **-**<br>| &nbsp;&nbsp; **6967331**<br>| &nbsp;&nbsp; **(135759)**<br>| &nbsp;&nbsp; **(3070438)**<br>| &nbsp;&nbsp; **-**<br>| &nbsp;&nbsp; **1715046**<br>| &nbsp;&nbsp; **(8327)**<br>| &nbsp;&nbsp; **3839105**<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) In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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**

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.

Columbia Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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.

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.

The Fund is seeking a closing agreement with the Internal Revenue Service to address any prior years' U.S. income tax liabilities attributable to Fund shareholders resulting from the recovery of European Union tax reclaims. The closing agreement will result in the Fund paying a portion of those taxes refunded to the IRS, on behalf of its shareholders, representing the estimated tax savings generated from foreign tax credits claimed by Fund shareholders on their tax returns in the prior years. The Fund has accrued a liability for the estimated IRS Closing Agreement costs, which is disclosed on the Statement of Assets and Liabilities. The actual amount may differ from the estimate due to additional reclaims received or interest due and that difference may be material.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared and paid semi-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.

Columbia Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 0.87% to 0.67% as the Fund's net assets increase. The effective management services fee rate for the year ended February 28, 2026 was 0.74% 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. Prior to July 1, 2025, Institutional 2 Class shares were subject to a contractual transfer agency fee annual limitation of not more than 0.05% and Institutional 3 Class shares were subject to a contractual transfer agency fee annual limitation of not more than 0.00% of the average daily net assets attributable to each share class.

Columbia Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

For the year ended February 28, 2026, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.13 |
| Class C | 0.13 |
| Institutional Class | 0.13 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |
| Class R | 0.13 |
| Class S | 0.13 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 2026, these minimum account balance fees reduced total expenses of the Fund by $160.

**Distribution and service fees**

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

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

**Sales charges (unaudited)**

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the year ended February 28, 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; 346161 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 131 |

---

&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 Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

**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; **July 1, 2025** <br>**through** <br>**June 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;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**July 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;&nbsp;&nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.91 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.82 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Class R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.91 |

---

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. In addition to the contractual agreement, the Investment Manager and certain of its affiliates have voluntarily agreed to waive fees and/or reimburse Fund expenses (excluding certain fees and expenses described above) so that Fund level expenses (expenses directly attributable to the Fund and not to a specific share class) are waived proportionately across all share classes. This arrangement may be revised or discontinued at any time. Reflected in the contractual cap commitment, prior to July 1, 2025, is the Transfer Agent's contractual agreement to limit total transfer agency fees to an annual rate of not more than 0.05% for Institutional 2 Class and 0.00% for Institutional 3 Class of the average daily net assets attributable to each share class. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Note 4. Federal tax information

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

At February 28, 2026, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, foreign currency transactions, derivative investments, passive foreign investment company (pfic) holdings, capital loss carryforwards, trustees' deferred compensation, foreign capital gains tax and miscellaneous adjustments. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Excess of distributions** <br>**over net investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(loss) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paid in** <br>**capital ($)**<br>|
| 91033659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (91033659)<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; — |

---

Columbia Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2026** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** | **Year Ended February 28, 2025** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 249253062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189987723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 439240785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159260139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159260139 |

---

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

At February 28, 2026, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 200464209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109620404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (259785178)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1702379508 |

---

At February 28, 2026, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 5175770322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1806503951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (104124443)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1702379508 |

---

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 February 28, 2026, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code. In addition, for the year ended February 28, 2026, capital loss carryforwards utilized, if any, were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** | **Utilized ($)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (259785178)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (259785178)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56531358 |

---

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 $4,586,332,630 and $2,830,563,016, respectively, for the year ended February 28, 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

Columbia Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

institutional prime money market funds like the Affiliated MMF to be subject to a discretionary liquidity fee of up to 2% if the imposition of such a fee is determined to be in the best interest of the Affiliated MMF and to a mandatory liquidity fee if daily net redemptions exceed 5% of net assets.

Note 7. Interfund lending

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

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

The Fund's activity in the Interfund Program during the year ended February 28, 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>|
| Borrower | 8525000 | &nbsp;&nbsp;&nbsp;&nbsp;4.87 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| Lender | 2385714 | &nbsp;&nbsp;&nbsp;&nbsp;4.87 | &nbsp;&nbsp;&nbsp;&nbsp; 7 |

---

Interest income earned and interest expense incurred by the Fund are recorded as Interfund lending and Interest on interfund lending, respectively, in the Statement of Operations. The Fund had no outstanding interfund loans at February 28, 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 year ended February 28, 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.

Columbia Overseas Value Fund \| 2026

------

Notes to Financial Statements (continued)

February 28, 2026

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 February 28, 2026, one unaffiliated shareholder of record owned 20.1% 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. 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 Overseas Value Fund \| 2026

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Overseas Value Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Overseas Value Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2026, the related statement of operations for the year ended February 28, 2026, the statement of changes in net assets for each of the two years in the period ended February 28, 2026, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2026 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

April 22, 2026

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

Columbia Overseas Value Fund \| 2026

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2026. Shareholders will be notified in early 2027 of the amounts for use in preparing 2026 income tax returns.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Qualified** <br>**dividend** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital** <br>**gain** <br>**dividend**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Foreign** <br>**taxes paid** <br>**to foreign** <br>**countries**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Foreign** <br>**taxes paid** <br>**per share** <br>**to foreign** <br>**countries**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Foreign** <br>**source** <br>**income**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Foreign** <br>**source** <br>**income** <br>**per share**<br>|
| 30.08% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $314588533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $10376916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $176679160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $0.41 |

---

Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.

Capital gain dividend. The Fund designates as a capital gain dividend the amount reflected above, or if subsequently determined to be different, the net capital gain of such fiscal period.

Foreign taxes. The Fund makes the election to pass through to shareholders the foreign taxes paid. Eligible shareholders may claim a foreign tax credit. These taxes, and the corresponding foreign source income, are provided in the table above.

Columbia Overseas Value Fund \| 2026

------

**Columbia Overseas Value Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g250382img1ed7426f2.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/

ANN208_02_T01_(04/26)

------

#### Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.

#### Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.

#### Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The fees and expenses of the independent trustees are included in "Compensation of board members" and "Deferred compensation of board members" on each Fund's Statement of Operations as part of the Registrant's financial statements filed under Item 7 of this Form N-CSR. Additionally, the compensation paid by the Trust to the Chief Compliance Officer is included in "Compensation of chief compliance officer" on each Fund's Statement of Operations as part of the Registrant's financial statements filed under Item 7 of this Form N-CSR.

For the Columbia Large Cap Index Fund and Columbia Small Cap Index Fund, Columbia Management Investment Advisers, LLC, the funds' investment advisor, is responsible for bearing expenses associated with the Independent Trustees' compensation pursuant to the management fee arrangement with each Fund. Refer to the Registrant's financial statements included on Item 7 of this Form N-CSR for further detail.

------

#### Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable.

#### Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.

#### Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.

#### Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.

#### Item 15. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees implemented since the registrant last provided disclosure as to such procedures in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K or Item 15 of Form N-CSR.

#### Item 16. Controls and Procedures.
(a) The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are effective and adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

(b) There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

#### Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.

#### Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.

------

#### Item 19. Exhibits.
(a)(1) [Code of ethics required to be disclosed under Item 2 of Form N-CSR attached hereto as Exhibit 99.CODE ETH.](d250382dex99codeeth.htm)

(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](d250382dex99cert.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.](d250382dex99906cert.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** | **Columbia Funds Series Trust** |
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |
| Date: | April 22, 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: | April 22, 2026 |
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |
| Date: | April 22, 2026 |

---

## Ex-99.Code

**Exhibit 99.CODE ETH.** 

**COLUMBIA FUNDS** 

---

| | |
|:---|:---|
| **Applicable Regulatory Authority** | Section 406 of the Sarbanes-Oxley Act of 2002; Item 2 of Form N-CSR |
| **Related Policies** | Overview and Implementation of Compliance Program Policy |
| **Requires Annual Board Approval** | No but Covered Officers Must provide annual certification |
| **Last Reviewed by AMC** | September 2025 |

---

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

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

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

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

The Board of the Columbia Funds ("Columbia Board") has adopted the following Code of Ethics for Principle Executive and Senior Financial Officers (the "Code"), which sets forth the ethical standards to which the Funds holds their principal executive officer and each of its senior financial officers.

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

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

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

**I.** **Covered Officers/Purpose of the Code** 

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

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

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

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

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

*Proprietary and Confidential* 

------

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

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

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

**II.** **Administration of the Code** 

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

The Board has designated a person who meets the definition of a Chief Legal Officer (the "CLO") for purposes of the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder as the Fund's CLO. The CLO of the Fund shall assist the Fund's Code Officer in administration of this Code. The Code Officer, in consultation with the CLO, shall be responsible for applying this Code to specific situations (in consultation with Fund counsel, where appropriate) and has the authority to interpret this Code in any particular situation.

**III.** **Managing Conflicts of Interest** 

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

Although they do not typically present an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationships between the Fund and, as applicable, its Adviser (Columbia Management Investment Advisers, LLC ("CMIA") for the Columbia Funds, administrator, principal underwriter, pricing and bookkeeping agent and/or transfer agent (each, a "Primary Service Provider") of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Fund or for a Primary Service Provider, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Primary Service Providers and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationships between the Fund and the Primary Service Providers and is consistent with the performance by the Covered Officers of their duties as officers of the Fund. If such conflicts are addressed in conformity with applicable provisions of the 1940 Act and the Advisers Act, they will be deemed to have been handled ethically. In addition, it is recognized by the Board of the Funds that the Covered Officers also may be officers or employees of one or more other investment companies or organizations affiliated with the sponsor of the Funds covered by other similar codes and that the codes of ethics of those other investment companies or organizations will apply to the Covered Officers acting in such capacities for such other investment companies.

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

*Proprietary and Confidential* 

------

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

Each Covered Officer must:

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

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

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

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

If a Covered Officer believes that he or she has a potential conflict of interest that is likely to materially compromise his or her objectivity or his or her ability to perform the duties of his or her role as a Covered Officer, including a potential conflict of interest that arises out of his or her responsibilities as an officer or employee of one or more Primary Service Providers or other funds, he or she should consult with the Code Officer, the CLO, the Fund's outside counsel, or counsel to the Independent Board Members, as appropriate.

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

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

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

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

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

*Proprietary and Confidential* 

------

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

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

**IV.** **Disclosure and Compliance** 

It is the responsibility of each Covered Officer:

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

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

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

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

**V.** **Reporting and Accountability by Covered Officers** 

Each Covered Officer must:

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

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

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

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

*Proprietary and Confidential* 

------

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

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

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

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

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

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

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

**VI.** **Other Policies** 

This Code shall be the sole code of ethics adopted by the Fund for the purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered management investment companies thereunder. Insofar as other policies or procedures of the Fund or the Fund's Primary Service Providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they conflict with the provisions of this Code. The Fund's and its Adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the 1940 Act and the more detailed policies and procedures of the Primary Service Providers as set forth in their respect Compliance Manuals are separate requirements applicable to the Covered Officers and are not part of this Code.

**VII.** **Disclosure of Amendments to the Code** 

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

**VIII.** **Confidentiality** 

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

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

*Proprietary and Confidential* 

------

**IX.** **Internal Use** 

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

**Reporting Requirements** 

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

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

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

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

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

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

**Monitoring/Oversight/Escalation** 

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

**Recordkeeping** 

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

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

*Proprietary and Confidential*

## 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;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |
| Date: | April 22, 2026 |

---

------

I, Charles H. Chiesa, certify that:

1. I have reviewed this report on Form N-CSR of Columbia Funds Series Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |
| Date: | April 22, 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 (the "Trust") on Form N-CSR for the period ending February 28, 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: | April 22, 2026 |
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |
| Date: | April 22, 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.