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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM
N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number
811-21852
Columbia Funds Series Trust II
(Exact name of registrant as specified in charter)

290 Congress Street
Boston, MA 02210
(Address of principal executive offices) (Zip code)

Daniel J. Beckman
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210

Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210

(Name and address of agent for service)
Registrant's telephone number, including area code:
(800) 345-6611
Date of fiscal year end:
Last Day of
 
October
Date of reporting period:
April 30, 2025
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100
 
F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders
Columbia Seligman Global Technology Fund
Class A / SHGTX
FundLogo
Semi-Annual Shareholder Report | April 30, 2025
This semi-annual shareholder report contains important information about Columbia Seligman Global Technology Fund (the Fund) for the period of November 1, 2024 to April 30, 2025. You can find additional information about the Fund at
columbiathreadneedleus.com/resources/literature
. You can also request more information by contacting us at
1-800-345-6611.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
ClassCost of a $10,000 investmentCost paid as a percentage of a $10,000 investment
Class A
$
61
1.26
%
(a)
(a)
Annualized.
Key Fund Statistics
Fund net assets
$
2,128,392,277
Total number of portfolio holdings68
Portfolio turnover for the reporting period11%
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
Broadcom, Inc.5.8
%
Lam Research Corp.5.2
%
NVIDIA Corp.5.2
%
Microsoft Corp.5.1
%
Alphabet, Inc., Class A4.3
%
Apple, Inc.4.1
%
Bloom Energy Corp., Class A3.7
%
Visa, Inc., Class A3.1
%
Applied Materials, Inc.2.9
%
Oracle Corp.2.6
%
Equity Sector Allocation
Graphical Representation - Allocation 1 Chart
Information Technology Sub-industry Allocation
Graphical Representation - Allocation 2 Chart
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.
TSR - QR Code
The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.
© 2025 Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value
Columbia Seligman Global Technology Fund | Class A
 
|
 
SSR220_01_(06/25)
Columbia Seligman Global Technology Fund
Class C / SHTCX
FundLogo
Semi-Annual Shareholder Report | April 30, 2025
This semi-annual shareholder report contains important information about Columbia Seligman Global Technology Fund (the Fund) for the period of November 1, 2024 to April 30, 2025. You can find additional information about the Fund at
columbiathreadneedleus.com/resources/literature
. You can also request more information by contacting us at
1-800-345-6611.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
ClassCost of a $10,000 investmentCost paid as a percentage of a $10,000 investment
Class C
$
96
2.01
%
(a)
(a)
Annualized.
Key Fund Statistics
Fund net assets
$
2,128,392,277
Total number of portfolio holdings68
Portfolio turnover for the reporting period11%
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
Broadcom, Inc.5.8
%
Lam Research Corp.5.2
%
NVIDIA Corp.5.2
%
Microsoft Corp.5.1
%
Alphabet, Inc., Class A4.3
%
Apple, Inc.4.1
%
Bloom Energy Corp., Class A3.7
%
Visa, Inc., Class A3.1
%
Applied Materials, Inc.2.9
%
Oracle Corp.2.6
%
Equity Sector Allocation
Graphical Representation - Allocation 1 Chart
Information Technology Sub-industry Allocation
Graphical Representation - Allocation 2 Chart
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.
TSR - QR Code
The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.
© 2025 Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value
Columbia Seligman Global Technology Fund | Class C
 
|
 
SSR220_04_(06/25)
Columbia Seligman Global Technology Fund
Institutional Class / CSGZX
FundLogo
Semi-Annual Shareholder Report | April 30, 2025
This semi-annual shareholder report contains important information about Columbia Seligman Global Technology Fund (the Fund) for the period of November 1, 2024 to April 30, 2025. You can find additional information about the Fund at
columbiathreadneedleus.com/resources/literature
. You can also request more information by contacting us at
1-800-345-6611.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
ClassCost of a $10,000 investmentCost paid as a percentage of a $10,000 investment
Institutional Class
$
49
1.01
%
(a)
(a)
Annualized.
Key Fund Statistics
Fund net assets
$
2,128,392,277
Total number of portfolio holdings68
Portfolio turnover for the reporting period11%
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
Broadcom, Inc.5.8
%
Lam Research Corp.5.2
%
NVIDIA Corp.5.2
%
Microsoft Corp.5.1
%
Alphabet, Inc., Class A4.3
%
Apple, Inc.4.1
%
Bloom Energy Corp., Class A3.7
%
Visa, Inc., Class A3.1
%
Applied Materials, Inc.2.9
%
Oracle Corp.2.6
%
Equity Sector Allocation
Graphical Representation - Allocation 1 Chart
Information Technology Sub-industry Allocation
Graphical Representation - Allocation 2 Chart
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.
TSR - QR Code
The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.
© 2025 Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value
Columbia Seligman Global Technology Fund | Institutional Class
 
|
 
SSR220_08_(06/25)
Columbia Seligman Global Technology Fund
Institutional 2 Class / SGTTX
FundLogo
Semi-Annual Shareholder Report | April 30, 2025
This semi-annual shareholder report contains important information about Columbia Seligman Global Technology Fund (the Fund) for the period of November 1, 2024 to April 30, 2025. You can find additional information about the Fund at
columbiathreadneedleus.com/resources/literature
. You can also request more information by contacting us at
1-800-345-6611.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
ClassCost of a $10,000 investmentCost paid as a percentage of a $10,000 investment
Institutional 2 Class
$
46
0.96
%
(a)
(a)
Annualized.
Key Fund Statistics
Fund net assets
$
2,128,392,277
Total number of portfolio holdings68
Portfolio turnover for the reporting period11%
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
Broadcom, Inc.5.8
%
Lam Research Corp.5.2
%
NVIDIA Corp.5.2
%
Microsoft Corp.5.1
%
Alphabet, Inc., Class A4.3
%
Apple, Inc.4.1
%
Bloom Energy Corp., Class A3.7
%
Visa, Inc., Class A3.1
%
Applied Materials, Inc.2.9
%
Oracle Corp.2.6
%
Equity Sector Allocation
Graphical Representation - Allocation 1 Chart
Information Technology Sub-industry Allocation
Graphical Representation - Allocation 2 Chart
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.
TSR - QR Code
The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.
© 2025 Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value
Columbia Seligman Global Technology Fund | Institutional 2 Class
 
|
 
SSR220_15_(06/25)
Columbia Seligman Global Technology Fund
Institutional 3 Class / CGTYX
FundLogo
Semi-Annual Shareholder Report | April 30, 2025
This semi-annual shareholder report contains important information about Columbia Seligman Global Technology Fund (the Fund) for the period of November 1, 2024 to April 30, 2025. You can find additional information about the Fund at
columbiathreadneedleus.com/resources/literature
. You can also request more information by contacting us at
1-800-345-6611.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
ClassCost of a $10,000 investmentCost paid as a percentage of a $10,000 investment
Institutional 3 Class
$
44
0.91
%
(a)
(a)
Annualized.
Key Fund Statistics
Fund net assets
$
2,128,392,277
Total number of portfolio holdings68
Portfolio turnover for the reporting period11%
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
Broadcom, Inc.5.8
%
Lam Research Corp.5.2
%
NVIDIA Corp.5.2
%
Microsoft Corp.5.1
%
Alphabet, Inc., Class A4.3
%
Apple, Inc.4.1
%
Bloom Energy Corp., Class A3.7
%
Visa, Inc., Class A3.1
%
Applied Materials, Inc.2.9
%
Oracle Corp.2.6
%
Equity Sector Allocation
Graphical Representation - Allocation 1 Chart
Information Technology Sub-industry Allocation
Graphical Representation - Allocation 2 Chart
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.
TSR - QR Code
The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.
© 2025 Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value
Columbia Seligman Global Technology Fund | Institutional 3 Class
 
|
 
SSR220_17_(06/25)
Columbia Seligman Global Technology Fund
Class R / SGTRX
FundLogo
Semi-Annual Shareholder Report | April 30, 2025
This semi-annual shareholder report contains important information about Columbia Seligman Global Technology Fund (the Fund) for the period of November 1, 2024 to April 30, 2025. You can find additional information about the Fund at
columbiathreadneedleus.com/resources/literature
. You can also request more information by contacting us at
1-800-345-6611.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
ClassCost of a $10,000 investmentCost paid as a percentage of a $10,000 investment
Class R
$
73
1.51
%
(a)
(a)
Annualized.
Key Fund Statistics
Fund net assets
$
2,128,392,277
Total number of portfolio holdings68
Portfolio turnover for the reporting period11%
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
Broadcom, Inc.5.8
%
Lam Research Corp.5.2
%
NVIDIA Corp.5.2
%
Microsoft Corp.5.1
%
Alphabet, Inc., Class A4.3
%
Apple, Inc.4.1
%
Bloom Energy Corp., Class A3.7
%
Visa, Inc., Class A3.1
%
Applied Materials, Inc.2.9
%
Oracle Corp.2.6
%
Equity Sector Allocation
Graphical Representation - Allocation 1 Chart
Information Technology Sub-industry Allocation
Graphical Representation - Allocation 2 Chart
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.
TSR - QR Code
The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.
© 2025 Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value
Columbia Seligman Global Technology Fund | Class R
 
|
 
SSR220_12_(06/25)
Columbia Seligman Global Technology Fund
Class S / CSGAX
FundLogo
Semi-Annual Shareholder Report | April 30, 2025
This semi-annual shareholder report contains important information about Columbia Seligman Global Technology Fund (the Fund) for the period of November 1, 2024 to April 30, 2025. You can find additional information about the Fund at
columbiathreadneedleus.com/resources/literature
. You can also request more information by contacting us at
1-800-345-6611.
What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)
ClassCost of a $10,000 investmentCost paid as a percentage of a $10,000 investment
Class S
$
49
1.01
%
(a)
(a)
Annualized.
Key Fund Statistics
Fund net assets
$
2,128,392,277
Total number of portfolio holdings68
Portfolio turnover for the reporting period11%
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
Broadcom, Inc.5.8
%
Lam Research Corp.5.2
%
NVIDIA Corp.5.2
%
Microsoft Corp.5.1
%
Alphabet, Inc., Class A4.3
%
Apple, Inc.4.1
%
Bloom Energy Corp., Class A3.7
%
Visa, Inc., Class A3.1
%
Applied Materials, Inc.2.9
%
Oracle Corp.2.6
%
Equity Sector Allocation
Graphical Representation - Allocation 1 Chart
Information Technology Sub-industry Allocation
Graphical Representation - Allocation 2 Chart
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund’s website included at the beginning of this report or scan the QR code below.
TSR - QR Code
The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.
© 2025 Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value
Columbia Seligman Global Technology Fund | Class S
 
|
 
SSR220_16_(06/25)

Item 2. Code of Ethics.

Not applicable.


Item 3. Audit Committee Financial Expert.

Not applicable.


Item 4. Principal Accountant Fees and Services.

Not applicable.


Item 5. Audit Committee of Listed Registrants.

Not applicable.


Item 6. Investments.

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

(b) Not applicable.


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


  
Columbia Seligman Global Technology Fund
Semi-Annual Financial Statements and Additional Information
April 30, 2025 (Unaudited)
  
Not FDIC or NCUA Insured
No Financial Institution Guarantee
May Lose Value

Table of Contents
 
3
7
9
10
12
16
Columbia Seligman Global Technology Fund | 2025

Portfolio of Investments
April 30, 2025 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
 
 
Common Stocks 99.8%
Issuer
Shares
Value ($)
Cayman Islands 0.2%
Rigaku Holdings Corp.
637,600
3,926,040
Germany 0.7%
TeamViewer SE(a)
1,004,689
15,434,759
Israel 2.5%
Check Point Software Technologies Ltd.(a)
148,488
32,602,025
CyberArk Software Ltd.(a)
26,203
9,227,649
Wix.com Ltd.(a)
64,054
10,862,918
Total
52,692,592
Japan 1.6%
Renesas Electronics Corp.
2,925,900
34,336,209
Netherlands 1.9%
NXP Semiconductors NV
217,297
40,050,010
Singapore 0.4%
Kulicke & Soffa Industries, Inc.
263,503
8,492,702
Taiwan 0.7%
Taiwan Semiconductor Manufacturing Co., Ltd., ADR
87,622
14,605,711
United Kingdom 0.4%
Alphawave IP Group PLC(a)
4,663,146
7,940,169
United States 91.4%
Adeia, Inc.
1,407,346
17,324,429
Advanced Energy Industries, Inc.
239,807
23,359,600
Alphabet, Inc., Class A
581,586
92,355,857
Alphabet, Inc., Class C
217,887
35,055,839
Amazon.com, Inc.(a)
183,136
33,773,941
Analog Devices, Inc.
53,682
10,463,695
ANSYS, Inc.(a)
34,069
10,966,130
Apple, Inc.(b)
407,117
86,512,362
Applied Materials, Inc.
404,664
60,986,911
Arista Networks, Inc.(a)
247,803
20,386,753
Atlassian Corp., Class A(a)
50,568
11,545,180
BILL Holdings, Inc.(a)
106,605
4,857,990
Block, Inc., Class A(a)
276,053
16,140,819
Bloom Energy Corp., Class A(a)
4,297,063
78,722,194
Broadcom, Inc.
641,016
123,376,350
Cisco Systems, Inc.
622,043
35,910,542
Common Stocks (continued)
Issuer
Shares
Value ($)
Coherent Corp.(a)
31,672
2,037,143
Comcast Corp., Class A
631,408
21,594,154
Coursera, Inc.(a)
318,914
2,685,256
DocuSign, Inc.(a)
114,583
9,367,160
Dropbox, Inc., Class A(a)
1,376,265
39,292,366
eBay, Inc.
749,017
51,052,999
Electronic Arts, Inc.
14,642
2,124,408
F5, Inc.(a)
59,530
15,759,972
Five9, Inc.(a)
365,273
9,182,963
Fiverr International Ltd.(a)
390,028
9,926,213
Gen Digital, Inc.
1,810,581
46,839,730
Global Payments, Inc.
672,519
51,319,925
GoDaddy, Inc., Class A(a)
256,023
48,216,812
Hewlett Packard Enterprise Co.
1,138,680
18,469,390
Lam Research Corp.
1,547,173
110,885,889
Lyft, Inc., Class A(a)
1,595,271
19,781,360
Marvell Technology, Inc.
542,667
31,675,473
Match Group, Inc.
1,197,605
35,520,964
Meta Platforms, Inc., Class A
97,932
53,764,668
Microsoft Corp.
274,686
108,572,388
NetApp, Inc.
458,535
41,153,516
NVIDIA Corp.
1,006,968
109,678,955
ON Semiconductor Corp.(a)
531,869
21,115,199
Oracle Corp.
389,234
54,773,008
Palo Alto Networks, Inc.(a)
122,061
22,816,863
Pinterest, Inc., Class A(a)
795,778
20,149,099
RingCentral, Inc., Class A(a)
741,781
18,915,416
SailPoint, Inc.(a)
259,624
4,455,148
Salesforce, Inc.
145,198
39,016,155
Sandisk Corp.(a)
122,269
3,926,058
Semtech Corp.(a)
556,970
17,405,313
Shift4 Payments, Inc., Class A(a)
122,818
10,046,512
Synaptics, Inc.(a)
571,234
31,794,884
Synopsys, Inc.(a)
63,956
29,356,444
Tenable Holdings, Inc.(a)
591,242
18,074,268
Teradyne, Inc.
442,239
32,818,556
TripAdvisor, Inc.(a)
594,065
7,396,109
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Seligman Global Technology Fund  | 2025
3

Portfolio of Investments (continued)
April 30, 2025 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Varonis Systems, Inc.(a)
268,959
11,522,204
Visa, Inc., Class A
192,381
66,467,635
Western Digital Corp.(a)
804,090
35,267,387
Total
1,945,956,554
Total Common Stocks
(Cost $1,314,483,356)
2,123,434,746
 
Money Market Funds 0.1%
 
Shares
Value ($)
Columbia Short-Term Cash Fund, 4.503%(c),(d)
3,502,219
3,501,168
Total Money Market Funds
(Cost $3,500,817)
3,501,168
Total Investments in Securities
(Cost $1,317,984,173)
2,126,935,914
Other Assets & Liabilities, Net
1,456,363
Net Assets
$2,128,392,277
At April 30, 2025, securities and/or cash totaling $5,588,750 were pledged as collateral.
Investments in derivatives 
Call option contracts written
Description
Counterparty
Trading
currency
Notional
amount
Number of
contracts
Exercise
price/Rate
Expiration
date
Premium
received ($)
Value ($)
Apple, Inc.
Morgan Stanley
USD
(5,588,750
)
(263
)
205.00
05/16/2025
(152,862
)
(307,710
)
Notes to Portfolio of Investments 
(a)
Non-income producing investment.
(b)
This security or a portion of this security has been pledged as collateral in connection with derivative contracts.
(c)
The rate shown is the seven-day current annualized yield at April 30, 2025.
(d)
Under Section 2(a)(3) of the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended April 30, 2025 are as follows:
 
Affiliated issuers
Beginning
of period($)
Purchases($)
Sales($)
Net change in
unrealized
appreciation
(depreciation)($)
End of
period($)
Capital gain
distributions($)
Realized gain
(loss)($)
Dividends —
affiliated
issuers ($)
End of
period shares
Columbia Select Technology ETF
 
2,525,932
(1,633,260
)
(892,672
)
19,965
966,858
4,814
Columbia Short-Term Cash Fund, 4.503%
 
16,768,904
184,285,490
(197,551,176
)
(2,050
)
3,501,168
(141
)
263,212
3,502,219
Total
19,294,836
(894,722
)
3,501,168
19,965
966,717
268,026
Abbreviation Legend 
ADR
American Depositary Receipt
The accompanying Notes to Financial Statements are an integral part of this statement.
4
Columbia Seligman Global Technology Fund  | 2025

Portfolio of Investments (continued)
April 30, 2025 (Unaudited)
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.
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 April 30, 2025: 
 
Level 1 ($)
Level 2 ($)
Level 3 ($)
Total ($)
Investments in Securities
Common Stocks
Cayman Islands
3,926,040
3,926,040
Germany
15,434,759
15,434,759
Israel
52,692,592
52,692,592
Japan
34,336,209
34,336,209
Netherlands
40,050,010
40,050,010
Singapore
8,492,702
8,492,702
Taiwan
14,605,711
14,605,711
United Kingdom
7,940,169
7,940,169
United States
1,945,956,554
1,945,956,554
Total Common Stocks
2,061,797,569
61,637,177
2,123,434,746
Money Market Funds
3,501,168
3,501,168
Total Investments in Securities
2,065,298,737
61,637,177
2,126,935,914
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Seligman Global Technology Fund  | 2025
5

Portfolio of Investments (continued)
April 30, 2025 (Unaudited)
Fair value measurements   (continued)
 
Level 1 ($)
Level 2 ($)
Level 3 ($)
Total ($)
Investments in Derivatives
Liability
Call Option Contracts Written
(307,710
)
(307,710
)
Total
2,064,991,027
61,637,177
2,126,628,204
See the Portfolio of Investments for all investment classifications not indicated in the table.
The Fund’s assets assigned to the Level 2 input category are generally valued using the market approach, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets. These assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation. The model utilized by such third party statistical pricing service takes into account a security’s correlation to available market data including relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable.
The accompanying Notes to Financial Statements are an integral part of this statement.
6
Columbia Seligman Global Technology Fund  | 2025

Statement of Assets and Liabilities
April 30, 2025 (Unaudited)
 
Assets
Investments in securities, at value
Unaffiliated issuers (cost $1,314,483,356)
$2,123,434,746
Affiliated issuers (cost $3,500,817)
3,501,168
Foreign currency (cost $3)
3
Receivable for:
Investments sold
2,385,631
Capital shares sold
442,705
Dividends
67,572
Expense reimbursement due from Investment Manager
2,390
Prepaid expenses
6,419
Other assets
37,954
Total assets
2,129,878,588
Liabilities
Option contracts written, at value (premiums received $152,862)
307,710
Payable for:
Capital shares redeemed
794,994
Management services fees
53,066
Distribution and/or service fees
12,195
Transfer agent fees
144,066
Compensation of board members
2,206
Other expenses
44,697
Deferred compensation of board members
127,377
Total liabilities
1,486,311
Net assets applicable to outstanding capital stock
$2,128,392,277
Represented by
Paid in capital
1,189,126,433
Total distributable earnings (loss)
939,265,844
Total - representing net assets applicable to outstanding capital stock
$2,128,392,277
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Seligman Global Technology Fund  | 2025
7

Statement of Assets and Liabilities (continued)
April 30, 2025 (Unaudited)
Class A
Net assets
$1,166,053,543
Shares outstanding
18,571,398
Net asset value per share
$62.79
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)
$66.62
Class C
Net assets
$59,391,898
Shares outstanding
1,708,387
Net asset value per share
$34.76
Institutional Class
Net assets
$509,456,905
Shares outstanding
7,770,688
Net asset value per share
$65.56
Institutional 2 Class
Net assets
$120,987,692
Shares outstanding
1,824,390
Net asset value per share
$66.32
Institutional 3 Class
Net assets
$74,701,950
Shares outstanding
1,136,916
Net asset value per share
$65.71
Class R
Net assets
$187,943,333
Shares outstanding
3,243,479
Net asset value per share
$57.94
Class S
Net assets
$9,856,956
Shares outstanding
150,334
Net asset value per share
$65.57
The accompanying Notes to Financial Statements are an integral part of this statement.
8
Columbia Seligman Global Technology Fund  | 2025

Statement of Operations
Six Months Ended April 30, 2025 (Unaudited)
 
Net investment income
Income:
Dividends — unaffiliated issuers
$8,920,417
Dividends — affiliated issuers
268,026
Foreign taxes withheld
(165,737
)
Total income
9,022,706
Expenses:
Management services fees
10,960,209
Distribution and/or service fees
Class A
1,656,656
Class C
349,351
Class R
535,557
Transfer agent fees
Class A
689,810
Advisor Class
5,264
Class C
36,357
Institutional Class
287,793
Institutional 2 Class
38,458
Institutional 3 Class
2,345
Class R
111,482
Class S
6,091
Custodian fees
16,392
Printing and postage fees
51,884
Registration fees
79,819
Accounting services fees
17,345
Legal fees
24,741
Compensation of chief compliance officer
222
Compensation of board members
19,712
Deferred compensation of board members
710
Other
28,961
Total expenses
14,919,159
Fees waived or expenses reimbursed by Investment Manager and its affiliates
(262,513
)
Total net expenses
14,656,646
Net investment loss
(5,633,940
)
Realized and unrealized gain (loss) — net
Net realized gain (loss) on:
Investments — unaffiliated issuers
139,300,253
Investments — affiliated issuers
966,717
Capital gain distributions from underlying affiliated funds
19,965
Foreign currency translations
27,157
Option contracts purchased
(146,116
)
Option contracts written
(635,287
)
Net realized gain
139,532,689
Net change in unrealized appreciation (depreciation) on:
Investments — unaffiliated issuers
(263,199,847
)
Investments — affiliated issuers
(894,722
)
Foreign currency translations
(208
)
Option contracts written
(64,428
)
Net change in unrealized appreciation (depreciation)
(264,159,205
)
Net realized and unrealized loss
(124,626,516
)
Net decrease in net assets resulting from operations
$(130,260,456
)
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Seligman Global Technology Fund  | 2025
9

Statement of Changes in Net Assets
 
 
Six Months Ended
April 30, 2025
(Unaudited)
Year Ended
October 31, 2024
Operations
Net investment loss
$(5,633,940
)
$(8,453,065
)
Net realized gain
139,532,689
362,542,539
Net change in unrealized appreciation (depreciation)
(264,159,205
)
364,947,892
Net increase (decrease) in net assets resulting from operations
(130,260,456
)
719,037,366
Distributions to shareholders
Net investment income and net realized gains
Class A
(174,420,086
)
(73,275,223
)
Advisor Class
(4,215,389
)
Class C
(14,915,830
)
(6,845,644
)
Institutional Class
(72,400,080
)
(22,730,472
)
Institutional 2 Class
(18,472,714
)
(6,120,502
)
Institutional 3 Class
(11,477,420
)
(1,278,136
)
Class R
(29,722,934
)
(11,484,531
)
Class S
(1,550,078
)
Total distributions to shareholders
(322,959,142
)
(125,949,897
)
Increase in net assets from capital stock activity
190,212,025
62,247,288
Total increase (decrease) in net assets
(263,007,573
)
655,334,757
Net assets at beginning of period
2,391,399,850
1,736,065,093
Net assets at end of period
$2,128,392,277
$2,391,399,850
The accompanying Notes to Financial Statements are an integral part of this statement.
10
Columbia Seligman Global Technology Fund  | 2025

Statement of Changes in Net Assets  (continued)
 
 
Six Months Ended
Year Ended
 
April 30, 2025 (Unaudited)
October 31, 2024
 
Shares
Dollars ($)
Shares
Dollars ($)
Capital stock activity
Class A
Shares sold
509,938
36,498,102
1,004,767
70,085,016
Distributions reinvested
2,251,901
164,884,187
1,104,490
69,262,551
Shares redeemed
(1,469,337
)
(104,123,733
)
(2,863,459
)
(198,291,919
)
Net increase (decrease)
1,292,502
97,258,556
(754,202
)
(58,944,352
)
Advisor Class
Shares sold
51,071
4,357,617
410,936
30,867,224
Distributions reinvested
50,413
3,365,069
Shares redeemed
(1,018,965
)
(88,576,930
)
(520,052
)
(37,663,959
)
Net decrease
(967,894
)
(84,219,313
)
(58,703
)
(3,431,666
)
Class C
Shares sold
165,946
6,558,501
324,628
13,853,551
Distributions reinvested
366,429
14,899,005
179,200
6,840,050
Shares redeemed
(405,881
)
(16,623,930
)
(625,665
)
(26,856,936
)
Net increase (decrease)
126,494
4,833,576
(121,837
)
(6,163,335
)
Institutional Class
Shares sold
2,071,445
162,944,606
1,624,267
117,781,478
Distributions reinvested
932,091
71,193,110
343,493
22,347,653
Shares redeemed
(1,161,529
)
(86,198,339
)
(1,547,458
)
(114,033,697
)
Net increase
1,842,007
147,939,377
420,302
26,095,434
Institutional 2 Class
Shares sold
246,465
18,325,648
708,280
50,545,520
Distributions reinvested
231,812
17,907,478
89,980
5,911,726
Shares redeemed
(464,865
)
(34,016,050
)
(381,442
)
(28,397,330
)
Net increase
13,412
2,217,076
416,818
28,059,916
Institutional 3 Class
Shares sold
110,457
8,592,552
884,830
61,616,111
Distributions reinvested
149,675
11,453,131
19,470
1,268,661
Shares redeemed
(199,471
)
(14,393,647
)
(137,515
)
(10,293,862
)
Net increase
60,661
5,652,036
766,785
52,590,910
Class R
Shares sold
106,169
6,843,715
388,640
25,322,119
Distributions reinvested
439,428
29,722,932
196,206
11,483,954
Shares redeemed
(304,789
)
(19,835,325
)
(376,661
)
(25,016,888
)
Net increase
240,808
16,731,322
208,185
11,789,185
Class S
Shares sold
4,292
342,990
157,737
12,594,668
Distributions reinvested
20,292
1,550,078
Shares redeemed
(27,711
)
(2,093,673
)
(4,276
)
(343,472
)
Net increase (decrease)
(3,127
)
(200,605
)
153,461
12,251,196
Total net increase
2,604,863
190,212,025
1,030,809
62,247,288
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Seligman Global Technology Fund  | 2025
11

Financial Highlights
The following table is intended to help you understand the Fund’s financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund’s portfolio turnover rate may be higher.  
 
Net asset value,
beginning of
period
Net
investment
income
(loss)
Net
realized
and
unrealized
gain (loss)
Total from
investment
operations
Distributions
from net
investment
income
Distributions
from net
realized
gains
Total
distributions to
shareholders
Class A
Six Months Ended 4/30/2025 (Unaudited)
$76.13
(0.18
)
(2.97
)
(3.15
)
(10.19
)
(10.19
)
Year Ended 10/31/2024
$57.30
(0.29
)
23.19
22.90
(4.07
)
(4.07
)
Year Ended 10/31/2023
$50.04
(0.22
)
9.37
9.15
(1.89
)
(1.89
)
Year Ended 10/31/2022
$74.57
(0.33
)
(15.61
)
(15.94
)
(8.59
)
(8.59
)
Year Ended 10/31/2021
$50.39
(0.19
)
30.21
30.02
(0.16
)
(5.68
)
(5.84
)
Year Ended 10/31/2020
$44.67
0.16
10.14
10.30
(4.58
)
(4.58
)
Class C
Six Months Ended 4/30/2025 (Unaudited)
$46.03
(0.26
)
(1.28
)
(1.54
)
(9.73
)
(9.73
)
Year Ended 10/31/2024
$36.28
(0.50
)
14.32
13.82
(4.07
)
(4.07
)
Year Ended 10/31/2023
$32.57
(0.41
)
6.01
5.60
(1.89
)
(1.89
)
Year Ended 10/31/2022
$51.23
(0.52
)
(10.05
)
(10.57
)
(8.09
)
(8.09
)
Year Ended 10/31/2021
$36.22
(0.48
)
21.17
20.69
(5.68
)
(5.68
)
Year Ended 10/31/2020
$33.28
(0.13
)
7.35
7.22
(4.28
)
(4.28
)
Institutional Class
Six Months Ended 4/30/2025 (Unaudited)
$79.15
(0.10
)
(3.12
)
(3.22
)
(10.37
)
(10.37
)
Year Ended 10/31/2024
$59.30
(0.12
)
24.04
23.92
(4.07
)
(4.07
)
Year Ended 10/31/2023
$51.59
(0.09
)
9.69
9.60
(1.89
)
(1.89
)
Year Ended 10/31/2022
$76.62
(0.18
)
(16.10
)
(16.28
)
(8.75
)
(8.75
)
Year Ended 10/31/2021
$51.62
(0.03
)
30.99
30.96
(0.28
)
(5.68
)
(5.96
)
Year Ended 10/31/2020
$45.64
0.29
10.36
10.65
(4.67
)
(4.67
)
Institutional 2 Class
Six Months Ended 4/30/2025 (Unaudited)
$79.97
(0.08
)
(3.17
)
(3.25
)
(10.40
)
(10.40
)
Year Ended 10/31/2024
$59.85
(0.09
)
24.28
24.19
(4.07
)
(4.07
)
Year Ended 10/31/2023
$52.02
(0.06
)
9.78
9.72
(1.89
)
(1.89
)
Year Ended 10/31/2022
$77.18
(0.14
)
(16.23
)
(16.37
)
(8.79
)
(8.79
)
Year Ended 10/31/2021
$51.96
(0.01
)
31.21
31.20
(0.30
)
(5.68
)
(5.98
)
Year Ended 10/31/2020
$45.91
0.28
10.47
10.75
(4.70
)
(4.70
)
The accompanying Notes to Financial Statements are an integral part of this statement.
12
Columbia Seligman Global Technology Fund  | 2025

Financial Highlights (continued)
 
 
Net
asset
value,
end of
period
Total
return
Total gross
expense
ratio to
average
net assets(a)
Total net
expense
ratio to
average
net assets(a),(b)
Net investment
income (loss)
ratio to
average
net assets
Portfolio
turnover
Net
assets,
end of
period
(000’s)
Class A
Six Months Ended 4/30/2025 (Unaudited)
$62.79
(6.05%
)
1.28%
1.26%
(0.51%
)
11%
$1,166,054
Year Ended 10/31/2024
$76.13
41.49%
1.28%
1.27%
(c)
(0.41%
)
46%
$1,315,459
Year Ended 10/31/2023
$57.30
18.82%
1.30%
1.30%
(c)
(0.40%
)
22%
$1,033,317
Year Ended 10/31/2022
$50.04
(24.74%
)
1.29%
(d)
1.29%
(c),(d)
(0.53%
)
17%
$920,639
Year Ended 10/31/2021
$74.57
63.49%
1.29%
(d)
1.29%
(c),(d)
(0.29%
)
31%
$1,318,628
Year Ended 10/31/2020
$50.39
25.09%
1.31%
(d),(e)
1.31%
(c),(d),(e)
0.35%
38%
$866,318
Class C
Six Months Ended 4/30/2025 (Unaudited)
$34.76
(6.41%
)
2.03%
2.01%
(1.26%
)
11%
$59,392
Year Ended 10/31/2024
$46.03
40.41%
2.03%
2.02%
(c)
(1.16%
)
46%
$72,816
Year Ended 10/31/2023
$36.28
17.97%
2.05%
2.05%
(c)
(1.14%
)
22%
$61,803
Year Ended 10/31/2022
$32.57
(25.32%
)
2.04%
(d)
2.04%
(c),(d)
(1.28%
)
17%
$60,256
Year Ended 10/31/2021
$51.23
62.27%
2.04%
(d)
2.04%
(c),(d)
(1.05%
)
31%
$94,295
Year Ended 10/31/2020
$36.22
24.17%
2.06%
(d),(e)
2.06%
(c),(d),(e)
(0.39%
)
38%
$72,302
Institutional Class
Six Months Ended 4/30/2025 (Unaudited)
$65.56
(5.93%
)
1.03%
1.01%
(0.26%
)
11%
$509,457
Year Ended 10/31/2024
$79.15
41.82%
1.03%
1.02%
(c)
(0.16%
)
46%
$469,284
Year Ended 10/31/2023
$59.30
19.14%
1.05%
1.05%
(c)
(0.15%
)
22%
$326,634
Year Ended 10/31/2022
$51.59
(24.56%
)
1.04%
(d)
1.04%
(c),(d)
(0.28%
)
17%
$243,966
Year Ended 10/31/2021
$76.62
63.88%
1.04%
(d)
1.04%
(c),(d)
(0.04%
)
31%
$358,757
Year Ended 10/31/2020
$51.62
25.41%
1.06%
(d),(e)
1.06%
(c),(d),(e)
0.62%
38%
$221,018
Institutional 2 Class
Six Months Ended 4/30/2025 (Unaudited)
$66.32
(5.90%
)
0.98%
0.96%
(0.21%
)
11%
$120,988
Year Ended 10/31/2024
$79.97
41.89%
0.99%
0.97%
(0.12%
)
46%
$144,826
Year Ended 10/31/2023
$59.85
19.21%
0.99%
0.99%
(0.10%
)
22%
$83,434
Year Ended 10/31/2022
$52.02
(24.51%
)
0.99%
(d)
0.99%
(d)
(0.22%
)
17%
$67,496
Year Ended 10/31/2021
$77.18
63.97%
0.99%
(d)
0.99%
(d)
(0.01%
)
31%
$61,324
Year Ended 10/31/2020
$51.96
25.49%
1.00%
(d),(e)
1.00%
(d),(e)
0.60%
38%
$30,500
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Seligman Global Technology Fund  | 2025
13

Financial Highlights (continued)
 
 
Net asset value,
beginning of
period
Net
investment
income
(loss)
Net
realized
and
unrealized
gain (loss)
Total from
investment
operations
Distributions
from net
investment
income
Distributions
from net
realized
gains
Total
distributions to
shareholders
Institutional 3 Class
Six Months Ended 4/30/2025 (Unaudited)
$79.34
(0.06
)
(3.13
)
(3.19
)
(10.44
)
(10.44
)
Year Ended 10/31/2024
$59.37
(0.08
)
24.12
24.04
(4.07
)
(4.07
)
Year Ended 10/31/2023
$51.60
(0.03
)
9.69
9.66
(1.89
)
(1.89
)
Year Ended 10/31/2022
$76.62
(0.12
)
(16.08
)
(16.20
)
(8.82
)
(8.82
)
Year Ended 10/31/2021
$51.61
0.05
30.96
31.01
(0.32
)
(5.68
)
(6.00
)
Year Ended 10/31/2020
$45.63
0.24
10.45
10.69
(4.71
)
(4.71
)
Class R
Six Months Ended 4/30/2025 (Unaudited)
$70.90
(0.25
)
(2.69
)
(2.94
)
(10.02
)
(10.02
)
Year Ended 10/31/2024
$53.73
(0.44
)
21.68
21.24
(4.07
)
(4.07
)
Year Ended 10/31/2023
$47.14
(0.35
)
8.83
8.48
(1.89
)
(1.89
)
Year Ended 10/31/2022
$70.73
(0.45
)
(14.72
)
(15.17
)
(8.42
)
(8.42
)
Year Ended 10/31/2021
$48.06
(0.34
)
28.74
28.40
(0.05
)
(5.68
)
(5.73
)
Year Ended 10/31/2020
$42.81
0.02
9.71
9.73
(4.48
)
(4.48
)
Class S
Six Months Ended 4/30/2025 (Unaudited)
$79.16
(0.10
)
(3.12
)
(3.22
)
(10.37
)
(10.37
)
Year Ended 10/31/2024(f)
$79.15
(0.04
)
0.05
0.01
 
Notes to Financial Highlights
(a)
In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios.
(b)
Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.
(c)
The benefits derived from expense reductions had an impact of less than 0.01%.
(d)
Ratios include interfund lending expense which is less than 0.01%.
(e)
Ratios include 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.
14
Columbia Seligman Global Technology Fund  | 2025

Financial Highlights (continued)
 
 
Net
asset
value,
end of
period
Total
return
Total gross
expense
ratio to
average
net assets(a)
Total net
expense
ratio to
average
net assets(a),(b)
Net investment
income (loss)
ratio to
average
net assets
Portfolio
turnover
Net
assets,
end of
period
(000’s)
Institutional 3 Class
Six Months Ended 4/30/2025 (Unaudited)
$65.71
(5.88%
)
0.93%
0.91%
(0.17%
)
11%
$74,702
Year Ended 10/31/2024
$79.34
41.99%
0.94%
0.92%
(0.11%
)
46%
$85,387
Year Ended 10/31/2023
$59.37
19.25%
0.94%
0.94%
(0.05%
)
22%
$18,374
Year Ended 10/31/2022
$51.60
(24.48%
)
0.94%
(d)
0.94%
(d)
(0.19%
)
17%
$12,081
Year Ended 10/31/2021
$76.62
64.05%
0.94%
(d)
0.94%
(d)
0.07%
31%
$15,737
Year Ended 10/31/2020
$51.61
25.54%
0.96%
(d),(e)
0.96%
(d),(e)
0.50%
38%
$8,380
Class R
Six Months Ended 4/30/2025 (Unaudited)
$57.94
(6.18%
)
1.53%
1.51%
(0.76%
)
11%
$187,943
Year Ended 10/31/2024
$70.90
41.14%
1.53%
1.52%
(c)
(0.66%
)
46%
$212,875
Year Ended 10/31/2023
$53.73
18.54%
1.55%
1.55%
(c)
(0.65%
)
22%
$150,139
Year Ended 10/31/2022
$47.14
(24.94%
)
1.54%
(d)
1.54%
(c),(d)
(0.78%
)
17%
$122,031
Year Ended 10/31/2021
$70.73
63.07%
1.54%
(d)
1.54%
(c),(d)
(0.53%
)
31%
$171,865
Year Ended 10/31/2020
$48.06
24.79%
1.56%
(d),(e)
1.56%
(c),(d),(e)
0.05%
38%
$94,867
Class S
Six Months Ended 4/30/2025 (Unaudited)
$65.57
(5.93%
)
1.03%
1.01%
(0.26%
)
11%
$9,857
Year Ended 10/31/2024
(f)
$79.16
0.01%
1.04%
1.02%
(0.77%
)
46%
$12,148
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Seligman Global Technology Fund  | 2025
15

Notes to Financial Statements
April 30, 2025 (Unaudited)
Note 1. Organization
Columbia Seligman Global Technology Fund (the Fund), a series of Columbia Funds Series Trust II (the Trust), is a non-diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
Fund shares
The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust’s organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.
As described in the Fund’s prospectus, Class A and Class C shares are offered to the general public for investment. Class C shares automatically convert to Class A shares after 8 years. Institutional Class, Institutional 2 Class, Institutional 3 Class, Class R and Class S shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund’s prospectus.
The Board of Trustees of the Fund approved the conversion of all Advisor Class shares of the Fund to Institutional Class shares of the Fund and the subsequent elimination of Advisor Class shares. Effective on November 22, 2024, Advisor Class shares of the Fund were converted to Institutional Class shares of the Fund. This was a tax-free transaction for existing Advisor Class shareholders.
Note 2. Summary of significant accounting policies
Basis of preparation
The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services - Investment Companies (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.
Segment reporting
In this reporting period, the Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures (ASU 2023-07). Adoption of the new standard impacted financial statement disclosures only and did not affect the Fund’s financial position or its results of operations. The intent of the ASU 2023-07 is to enable investors to better understand an entity’s overall performance and to assess its potential future cash flows through improved segment disclosures.
The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the 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.
16
Columbia Seligman Global Technology Fund  | 2025

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
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.
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.
Columbia Seligman Global Technology Fund  | 2025
17

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
Derivative instruments
The Fund invests in certain derivative instruments, as detailed below, in seeking to meet its investment objectives. Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more securities, currencies, commodities, indices, or other assets or instruments. Derivatives may be used to increase investment flexibility (including to maintain cash reserves while maintaining desired exposure to certain assets), for risk management (hedging) purposes, to facilitate trading, to reduce transaction costs and to pursue higher investment returns. The Fund may also use derivative instruments to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. Derivatives may involve various risks, including the potential inability of the counterparty to fulfill its obligations under the terms of the contract, the potential for an illiquid secondary market (making it difficult for the Fund to sell or terminate, including at favorable prices) and the potential for market movements which may expose the Fund to gains or losses in excess of the amount shown in the Statement of Assets and Liabilities. The notional exposure of a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument and/or changes in value for the instrument. The notional exposure is a hypothetical underlying quantity upon which payment obligations are computed. Notional exposures provide a gauge for how the Fund may behave given changes in the underlying rate, asset or reference instrument and individual markets. The notional amounts of derivative instruments, if applicable, are not recorded in the financial statements.
A derivative instrument may suffer a marked-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform its obligations under the contract. The Fund’s risk of loss from counterparty credit risk on over-the-counter derivatives is generally expected to be limited to the aggregate unrealized gain netted against any collateral held by the Fund and the amount of any variation margin held by the counterparty, plus any replacement costs or related amounts. With exchange-traded or centrally cleared derivatives, there is reduced counterparty credit risk to the Fund since the clearinghouse or central counterparty provides some protection in the case of clearing member default. The clearinghouse or central counterparty stands between the buyer and the seller of the contract; therefore, failure of the clearinghouse or central counterparty may pose additional counterparty credit risk. However, credit risk still exists in exchange-traded or centrally cleared derivatives with respect to initial and variation margin that is held in a broker’s customer account. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients and such shortfall is remedied by the central counterparty or otherwise, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the clearing broker’s customers (including the Fund), potentially resulting in losses to the Fund.
In order to better define its contractual rights and to secure rights that will help the Fund mitigate its counterparty risk in respect of over-the-counter derivatives, the Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (ISDA Master Agreement) or similar agreement with its derivatives counterparties. An ISDA Master Agreement is an agreement between the Fund and a counterparty that governs over-the-counter derivatives and foreign 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
18
Columbia Seligman Global Technology Fund  | 2025

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
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 purchased and has written option contracts to increase return on investments and to protect gains. 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.
Columbia Seligman Global Technology Fund  | 2025
19

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
The following table is a summary of the fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) at April 30, 2025: 
 
Liability derivatives
 
Risk exposure
category
Statement
of assets and liabilities
location
Fair value ($)
Equity risk
Option contracts written, at value
307,710
The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the six months ended April 30, 2025: 
Amount of realized gain (loss) on derivatives recognized in income
Risk exposure category
Option
contracts
purchased
($)
Option
contracts
written
($)
Total
($)
Equity risk
(146,116
)
(635,287
)
(781,403
)
 
Change in unrealized appreciation (depreciation) on derivatives recognized in income
Risk exposure category
Option
contracts
written
($)
Equity risk
(64,428
)
The following table is a summary of the average daily outstanding volume by derivative instrument for the six months ended April 30, 2025: 
Derivative instrument
Average
value ($)
Option contracts purchased
54,325
Option contracts written
(401,282
)
Offsetting of assets and liabilities
The following table presents the Fund’s gross and net amount of assets and liabilities available for offset under netting arrangements as well as any related collateral received or pledged by the Fund as of April 30, 2025: 
 
Morgan
Stanley ($)
Liabilities
Call option contracts written
307,710
Total financial and derivative net assets
(307,710
)
Total collateral received (pledged) (a)
(307,710
)
Net amount (b)
-
 
(a)
In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization.
(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.
20
Columbia Seligman Global Technology Fund  | 2025

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
The Fund may receive distributions from holdings in equity securities, business development companies (BDCs), exchange-traded funds (ETFs), limited partnerships (LPs), other regulated investment companies (RICs), and real estate investment trusts (REITs), which report information as to the tax character of their distributions annually. These distributions are allocated to dividend income, capital gain and return of capital based on actual information reported. Return of capital is recorded as a reduction of the cost basis of securities held. If the Fund no longer owns the applicable securities, return of capital is recorded as a realized gain. With respect to REITs, to the extent actual information has not yet been reported, estimates for return of capital are made by Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). The Investment Manager’s estimates are subsequently adjusted when the actual character of the distributions is disclosed by the REITs, which could result in a proportionate change in return of capital to shareholders.
Awards from class action litigation are recorded as a reduction of cost basis if the Fund still owns the applicable securities on the payment date. If the Fund no longer owns the applicable securities on the payment date, the proceeds are recorded as realized gains.
Income and capital gain distributions from the Underlying Funds, if any, are recorded on the ex-dividend date.
Expenses
General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.
Determination of class net asset value
All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.
Federal income tax status
The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.
Foreign taxes
The Fund may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Fund will accrue such taxes and recoveries, as applicable, based upon its current interpretation of tax rules and regulations that exist in the markets in which it invests.
Realized gains in certain countries may be subject to foreign taxes at the Fund level, based on statutory rates. The Fund accrues for such foreign taxes on realized and unrealized gains at the appropriate rate for each jurisdiction, as applicable. The amount, if any, is disclosed as a liability in the Statement of Assets and Liabilities.
Distributions to shareholders
Distributions from net investment income, if any, are declared and paid annually. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.
Columbia Seligman Global Technology Fund  | 2025
21

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
Guarantees and indemnifications
Under the Trust’s organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund’s contracts with its service providers contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.
Recent accounting pronouncements and regulatory updates
Accounting Standards Update 2023-09 Income Taxes (Topic 740)
In December 2023, the FASB issued Accounting Standards Update No. 2023-09 Income Taxes (Topic 740) Improvements to Income Tax Disclosures. The amendments were issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to rate reconciliation and income taxes paid information. The amendments are effective for annual periods beginning after December 15, 2024, with early adoption permitted. Management expects that the adoption of the amendments will not have a material impact on its financial statements.
Note 3. Fees and other transactions with affiliates
Management services fees
The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice, as well as administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund’s daily net assets that declines from 0.915% to 0.705% as the Fund’s net assets increase. The annualized effective management services fee rate for the six months ended April 30, 2025 was 0.907% of the Fund’s average daily net assets.
The Investment Manager has contractually agreed to implement a waiver with respect to Fund assets invested in funds that pay a management or advisory fee to the Investment Manager or its affiliate (underlying affiliated funds). Under this arrangement, the Investment Manager waives its net management fee (management fee less reimbursements/waivers) with respect to the Fund in an amount equal to the net management or advisory fee (fee less reimbursement/waivers) payable by an underlying affiliated fund on the assets invested by the Fund in the underlying affiliated fund. 
Compensation of Board members
Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund’s liability for these amounts is adjusted for market value changes and 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.
22
Columbia Seligman Global Technology Fund  | 2025

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
Transfer agency fees
Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).
The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund’s shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.
The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.
For the six months ended April 30, 2025, the Fund’s annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows: 
 
Effective rate (%)
Class A
0.10
Advisor Class
0.01
(a)
Class C
0.10
Institutional Class
0.10
Institutional 2 Class
0.05
Institutional 3 Class
0.01
Class R
0.10
Class S
0.10
 
(a)
Unannualized.
An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class’s initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended April 30, 2025, no minimum account balance fees were charged by the Fund.
Distribution and service fees
The Fund has entered into an agreement with Columbia Management Investment Distributors, Inc. (the Distributor), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, for distribution and shareholder services. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25%, 1.00% and 0.50% of the Fund’s average daily net assets attributable to Class A, Class C and Class R shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses. For Class R shares, of the 0.50% fee, up to 0.25% can be reimbursed for shareholder servicing expenses.
The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $3,566,000 for Class C shares. This amount is based on the most recent information available as of March 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced.
Columbia Seligman Global Technology Fund  | 2025
23

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
Sales charges
Sales charges, including front-end charges and CDSCs, received by the Distributor for distributing Fund shares for the six months ended April 30, 2025, if any, are listed below: 
 
Front End (%)
CDSC (%)
Amount ($)
Class A
5.75
0.50 - 1.00
(a)
220,526
Class C
1.00
(b)
3,203
 
(a)
This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
(b)
This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
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: 
 
March 1, 2025
through
February 28, 2026 (%)
Prior to
March 1, 2025 (%)
Class A
1.25
1.27
Class C
2.00
2.02
Institutional Class
1.00
1.02
Institutional 2 Class
0.96
0.97
Institutional 3 Class
0.91
0.92
Class R
1.50
1.52
Class S
1.00
1.02
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 April 30, 2025, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was: 
Federal
tax cost ($)
Gross unrealized
appreciation ($)
Gross unrealized
(depreciation) ($)
Net unrealized
appreciation ($)
1,317,831,000
910,623,000
(101,826,000
)
808,797,000
24
Columbia Seligman Global Technology Fund  | 2025

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
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 $266,772,763 and $391,234,671, respectively, for the six months ended April 30, 2025. 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 six months ended April 30, 2025.
Note 8. Line of credit
The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 24, 2024 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $900 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 24, 2024 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings
Columbia Seligman Global Technology Fund  | 2025
25

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.
The Fund had no borrowings during the six months ended April 30, 2025.
Note 9. Significant risks
Information technology sector risk
The Fund is vulnerable to the particular risks that may affect companies in the information technology sector. Companies in the information technology sector are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments. Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many information technology sector companies have limited operating histories and prices of these companies’ securities historically have been more volatile than other securities, especially over the short term. Some companies in the information technology sector are facing increased government and regulatory scrutiny and may be subject to adverse government or regulatory action, which could negatively impact the value of their securities.
Market risk
The Fund may incur losses due to declines in the value of one or more securities in which it invests. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the Fund’s ability to price or value hard-to-value assets in thinly traded and closed markets and could cause significant redemptions and operational challenges. Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.
Non-diversification risk
A non-diversified fund is permitted to invest a greater percentage of its total assets in fewer issuers than a diversified fund. This increases the risk that a change in the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect that of a diversified fund holding a greater number of investments. Accordingly, the Fund value will likely be more volatile than the value of a more diversified fund.
Shareholder concentration risk
At April 30, 2025, affiliated shareholders of record owned 27.9% 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.
26
Columbia Seligman Global Technology Fund  | 2025

Notes to Financial Statements (continued)
April 30, 2025 (Unaudited)
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 Seligman Global Technology Fund  | 2025
27

Columbia Seligman Global Technology Fund
P.O. Box 219104
Kansas City, MO 64121-9104
  
Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.
© 2025 Columbia Management Investment Advisers, LLC.
columbiathreadneedleus.com/investor/
SAR220_10_R01_(06/25)



Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.


Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.


Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

The fees and expenses of the independent trustees are included in "Compensation of board members" and "Deferred compensation of board members" on each Fund's Statement of Operations as part of the Registrant's financial statements filed under Item 7 of this Form N-CSR.  Additionally, the compensation paid by the Trust to the Chief Compliance Officer is included in "Compensation of chief compliance officer" on each Fund's Statement of Operations as part of the Registrant's financial statements filed under Item 7 of this Form N-CSR.


Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.


Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.


Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.


Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.


Item 15. Submission of Matters to a Vote of Security Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors implemented since the registrant last provided disclosure as to such procedures in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K or Item 15 of Form N-CSR.


Item 16. Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer, based on their evaluation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant’s management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

(b) There was no change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.


Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.


Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.



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.

(registrant) Columbia Funds Series Trust II

By (Signature and Title) /s/ Daniel J. Beckman
Daniel J. Beckman, President and Principal Executive Officer

Date June 18, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title) /s/ Daniel J. Beckman
Daniel J. Beckman, President and Principal Executive Officer

Date June 18, 2025

By (Signature and Title) /s/ Michael G. Clarke
Michael G. Clarke, Chief Financial Officer,
Principal Financial Officer and Senior Vice President

Date June 18, 2025

By (Signature and Title) /s/ Charles H. Chiesa
Charles H. Chiesa, Treasurer, Chief Accounting
Officer and Principal Financial Officer

Date June 18, 2025


ATTACHMENTS / EXHIBITS

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