Columbia Capital Allocation Portfolios
First Quarter Report
April 30, 2026 (Unaudited)
Columbia Capital Allocation Conservative Portfolio
Columbia Capital Allocation Moderate Conservative Portfolio
Columbia Capital Allocation Moderate Portfolio
Columbia Capital Allocation Moderate Aggressive Portfolio
Columbia Capital Allocation Aggressive Portfolio
  
Not FDIC or NCUA Insured
No Financial Institution Guarantee
May Lose Value
Portfolio of Investments
Columbia Capital Allocation Conservative Portfolio, April 30, 2026 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
 
 
Alternative Strategies Funds 5.9%
 
Shares
Value ($)
Columbia Multi Strategy Alternatives Fund,
Institutional Class(a),(b)
304,321
8,843,577
Total Alternative Strategies Funds
(Cost $8,730,992)
8,843,577
 
Equity Funds 24.3%
 
 
 
International 4.2%
Columbia Emerging Markets Fund, Institutional 3
Class(a)
58,603
1,218,351
Columbia Overseas Core Fund, Institutional 3
Class(a)
375,877
5,010,443
Total
6,228,794
U.S. Large Cap 19.3%
Columbia Contrarian Core Fund, Institutional 3
Class(a)
164,715
6,842,272
Columbia Cornerstone Equity Fund, Institutional 3
Class(a)
283,122
6,857,207
Columbia Cornerstone Growth Fund, Institutional 3
Class(a),(b)
51,416
4,345,665
Columbia Disciplined Core Fund, Institutional 3
Class(a)
431,301
6,849,057
Columbia Intrinsic Value Fund, Institutional 3
Class(a)
206,008
4,138,715
Total
29,032,916
U.S. Small Cap 0.8%
Columbia Select Small Cap Value Fund, Institutional
3 Class(a)
24,109
657,690
Columbia Small Cap Growth Fund, Institutional 3
Class(a),(b)
15,214
592,872
Total
1,250,562
Total Equity Funds
(Cost $30,424,266)
36,512,272
 
Exchange-Traded Equity Funds 1.0%
 
 
 
Emerging Markets 1.0%
Columbia Research Enhanced Emerging Economies
ETF(a)
48,785
1,589,103
Total Exchange-Traded Equity Funds
(Cost $1,223,528)
1,589,103
 
Exchange-Traded Fixed Income Funds 34.6%
 
Shares
Value ($)
Investment Grade 34.6%
Columbia Core Bond ETF(a)
1,729,219
51,980,335
Total Exchange-Traded Fixed Income Funds
(Cost $55,444,140)
51,980,335
 
Fixed Income Funds 29.7%
 
 
 
Emerging Markets 3.1%
Columbia Emerging Markets Bond Fund,
Institutional 3 Class(a)
455,679
4,616,026
High Yield 5.4%
Columbia High Yield Bond Fund, Institutional 3
Class(a)
734,844
8,164,125
Investment Grade 21.2%
Columbia Quality Income Fund, Institutional 3
Class(a)
726,392
13,111,377
Columbia Select Corporate Income Fund,
Institutional 3 Class(a)
1,854,796
16,952,836
Columbia U.S. Treasury Index Fund, Institutional 3
Class(a)
176,498
1,749,091
Total
31,813,304
Total Fixed Income Funds
(Cost $44,719,201)
44,593,455
 
Money Market Funds 3.7%
 
 
 
Columbia Short-Term Cash Fund, 3.810%(a),(c)
5,552,343
5,550,122
Total Money Market Funds
(Cost $5,550,547)
5,550,122
Total Investments in Securities
(Cost: $146,092,674)
149,068,864
Other Assets & Liabilities, Net
1,199,438
Net Assets
150,268,302
At April 30, 2026, securities and/or cash totaling $1,165,119 were pledged as collateral.
2
Columbia Capital Allocation Conservative Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Conservative Portfolio, April 30, 2026 (Unaudited)
Investments in derivatives 
Forward foreign currency exchange contracts
Currency to
be sold
Currency to
be purchased
Counterparty
Settlement
date
Unrealized
appreciation ($)
Unrealized
depreciation ($)
225,000 AUD
161,699 USD
Barclays
05/27/2026
—
(221
)
968,000 NOK
104,398 USD
Barclays
05/27/2026
—
(60
)
3,069,057 USD
485,233,000 JPY
Barclays
05/27/2026
36,809
—
83,535 USD
141,000 NZD
Barclays
05/27/2026
—
(172
)
1,340,000 SEK
145,839 USD
Citi
05/27/2026
521
—
1,987,230 USD
1,468,000 GBP
Citi
05/27/2026
10,306
—
289,100 USD
45,922,000 JPY
HSBC
05/27/2026
4,837
—
583,457 USD
990,000 NZD
HSBC
05/27/2026
1,857
—
1,115,000 CAD
815,995 USD
JPMorgan Chase Bank
05/27/2026
—
(5,675
)
87,000 EUR
102,270 USD
JPMorgan Chase Bank
05/27/2026
48
—
744,000 CHF
957,763 USD
Morgan Stanley Bank
05/27/2026
3,109
—
556,000 CAD
409,045 USD
State Street
05/27/2026
—
(685
)
919,354 USD
8,579,000 NOK
UBS
05/27/2026
6,414
—
1,223,000 AUD
875,411 USD
Wells Fargo
05/27/2026
—
(4,713
)
1,754,000 EUR
2,069,803 USD
Wells Fargo
05/27/2026
8,921
—
16,782,000 SEK
1,839,244 USD
Wells Fargo
05/27/2026
19,291
—
42,207 USD
33,000 CHF
Wells Fargo
05/27/2026
136
—
490,784 USD
362,000 GBP
Wells Fargo
05/27/2026
1,796
—
Total
 
 
94,045
(11,526
)
 
Long futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Bloomberg HY Credit
7
06/2026
USD
792,750
5,750
—
Bloomberg IG Credit
22
06/2026
USD
2,348,940
—
(5,344
)
CAC40 Index
21
05/2026
EUR
1,691,655
—
(46,748
)
FTSE 100 Index
20
06/2026
GBP
2,075,700
108,099
—
MSCI Emerging Markets Index
18
06/2026
USD
1,470,780
124,347
—
Russell 2000 Index E-mini
7
06/2026
USD
982,730
98,333
—
S&P 500 Index E-mini
4
06/2026
USD
1,448,750
150,443
—
S&P/TSX 60 Index
9
06/2026
CAD
3,571,560
120,140
—
U.S. Treasury 10-Year Note
19
06/2026
USD
2,101,281
—
(51,692
)
U.S. Treasury Ultra Bond
8
06/2026
USD
920,250
—
(42,027
)
Total
 
 
 
607,112
(145,811
)
 
Short futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Euro STOXX 50 Index
(93)
06/2026
EUR
(5,431,200
)
—
(332,540
)
FTSE/MIB Index
(8)
06/2026
EUR
(1,906,920
)
—
(183,554
)
MSCI EAFE Index
(9)
06/2026
USD
(1,370,745
)
—
(52,314
)
Total
 
 
 
—
(568,408
)
 
Columbia Capital Allocation Conservative Portfolio | 2026
3
Portfolio of Investments  (continued)
Columbia Capital Allocation Conservative Portfolio, April 30, 2026 (Unaudited)
Total return swap contracts
Fund receives
Fund pays
Payment
frequency
Counterparty
Maturity
date
Notional
currency
Notional
amount
Value
($)
Periodic
payments
receivable
(payable)
($)
Upfront
payments
($)
Upfront
receipts
($)
Unrealized
appreciation
($)
Unrealized
depreciation
($)
Total return on
Russell 1000
Value Index Total
Return
SOFR plus 0.670%
Monthly
Goldman Sachs
International
01/29/2027
USD
1,489,731
121,492
(5,357
)
—
—
116,135
—
SOFR plus 0.590%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
01/29/2027
USD
1,387,043
(164,991
)
4,895
—
—
—
(160,096
)
SOFR plus 0.580%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
04/30/2027
USD
1,501,829
(301
)
—
—
—
—
(300
)
Total return on
Russell 1000
Value Index Total
Return
SOFR plus 0.670%
Monthly
Goldman Sachs
International
04/30/2027
USD
1,499,680
(300
)
—
—
—
—
(300
)
Total
 
 
 
 
 
(44,100
)
(462
)
—
—
116,135
(160,696
)
 
Reference index and values for swap contracts as of period end
Reference index
 
Reference rate
SOFR
Secured Overnight Financing Rate
3.630%
Notes to Portfolio of Investments 
(a)
Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended April 30, 2026 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 Bond Fund, Institutional 3 Class
 
49,579,927
294,661
(53,220,411
)*
3,345,823
—
—
(110,090
)
254,262
—
Columbia Contrarian Core Fund, Institutional 3 Class
 
6,809,643
91,166
(238,073
)
179,536
6,842,272
—
49,945
—
164,715
Columbia Core Bond ETF
 
—
55,444,139
*
—
(3,463,804
)
51,980,335
—
—
85,210
1,729,219
Columbia Cornerstone Equity Fund, Institutional 3 Class
 
6,826,618
87,792
(180,584
)
123,381
6,857,207
—
35,058
—
283,122
Columbia Cornerstone Growth Fund, Institutional 3 Class
 
4,331,420
107,761
(184,837
)
91,321
4,345,665
—
53,684
—
51,416
Columbia Disciplined Core Fund, Institutional 3 Class
 
6,726,088
110,689
(203,010
)
215,290
6,849,057
—
18,276
—
431,301
Columbia Emerging Markets Bond Fund, Institutional 3 Class
 
4,931,983
103,580
(362,384
)
(57,153
)
4,616,026
—
27,814
60,530
455,679
Columbia Emerging Markets Fund, Institutional 3 Class
 
1,158,454
56,323
(122,153
)
125,727
1,218,351
—
31,555
—
58,603
4
Columbia Capital Allocation Conservative Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Conservative Portfolio, April 30, 2026 (Unaudited)
Notes to Portfolio of Investments (continued)
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 High Yield Bond Fund, Institutional 3 Class
 
11,443,297
252,505
(3,728,986
)
197,309
8,164,125
—
(271,348
)
169,162
734,844
Columbia Intrinsic Value Fund, Institutional 3 Class
 
4,141,276
41,057
(229,396
)
185,778
4,138,715
—
24,296
8,483
206,008
Columbia Multi Strategy Alternatives Fund, Institutional Class
 
—
8,882,121
(151,129
)
112,585
8,843,577
—
1,069
—
304,321
Columbia Overseas Core Fund, Institutional 3 Class
 
4,897,497
138,153
(36,919
)
11,712
5,010,443
—
8,939
—
375,877
Columbia Quality Income Fund, Institutional 3 Class
 
13,718,089
248,227
(899,680
)
44,741
13,111,377
—
(176,274
)
135,426
726,392
Columbia Research Enhanced Emerging Economies ETF
 
1,449,402
—
—
139,701
1,589,103
—
—
—
48,785
Columbia Select Corporate Income Fund, Institutional 3 Class
 
17,581,218
334,979
(862,273
)
(101,088
)
16,952,836
—
(126,760
)
200,437
1,854,796
Columbia Select Small Cap Value Fund, Institutional 3 Class
 
633,922
15,776
(59,754
)
67,746
657,690
—
5,243
—
24,109
Columbia Short-Term Cash Fund, 3.810%
 
5,459,547
2,717,835
(2,626,865
)
(395
)
5,550,122
—
(116
)
49,316
5,552,343
Columbia Small Cap Growth Fund, Institutional 3 Class
 
611,761
24,804
(72,344
)
28,651
592,872
—
15,478
—
15,214
Columbia U.S. Treasury Index Fund, Institutional 3 Class
 
11,199,584
171,892
(10,410,384
)
787,999
1,749,091
—
(861,323
)
72,646
176,498
Total
151,499,726
2,034,860
149,068,864
—
(1,274,554
)
1,035,472
 
*
Includes the effect of affiliated issuers acquired in the fund reorganization.
 
(b)
Non-income producing investment.
(c)
The rate shown is the seven-day current annualized yield at April 30, 2026.
Currency Legend 
AUD
Australian Dollar
CAD
Canadian Dollar
CHF
Swiss Franc
EUR
Euro
GBP
British Pound
JPY
Japanese Yen
NOK
Norwegian Krone
NZD
New Zealand Dollar
SEK
Swedish Krona
USD
US Dollar
Investments are valued using policies described in the Notes to Financial Statements included within the most recent financial statements and additional information.
Columbia Capital Allocation Conservative Portfolio | 2026
5
Portfolio of Investments
Columbia Capital Allocation Moderate Conservative Portfolio, April 30, 2026 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
 
 
Alternative Strategies Funds 4.7%
 
Shares
Value ($)
Columbia Multi Strategy Alternatives Fund,
Institutional Class(a),(b)
537,132
15,609,054
Total Alternative Strategies Funds
(Cost $15,410,326)
15,609,054
 
Equity Funds 38.4%
 
 
 
International 8.1%
Columbia Emerging Markets Fund, Institutional 3
Class(a)
259,808
5,401,401
Columbia Overseas Core Fund, Institutional 3
Class(a)
1,628,854
21,712,625
Total
27,114,026
U.S. Large Cap 29.0%
Columbia Contrarian Core Fund, Institutional 3
Class(a)
607,597
25,239,584
Columbia Cornerstone Equity Fund, Institutional 3
Class(a)
1,036,315
25,099,564
Columbia Cornerstone Growth Fund, Institutional 3
Class(a),(b)
127,759
10,798,177
Columbia Disciplined Core Fund, Institutional 3
Class(a)
1,588,871
25,231,268
Columbia Intrinsic Value Fund, Institutional 3
Class(a)
500,569
10,056,428
Total
96,425,021
U.S. Small Cap 1.3%
Columbia Select Small Cap Value Fund,
Institutional 3 Class(a)
79,593
2,171,303
Columbia Small Cap Growth Fund, Institutional 3
Class(a),(b)
55,671
2,169,498
Total
4,340,801
Total Equity Funds
(Cost $103,172,888)
127,879,848
 
Exchange-Traded Equity Funds 2.2%
 
 
 
Emerging Markets 2.2%
Columbia Research Enhanced Emerging
Economies ETF(a)
221,114
7,202,479
Total Exchange-Traded Equity Funds
(Cost $5,545,539)
7,202,479
 
Exchange-Traded Fixed Income Funds 25.5%
 
Shares
Value ($)
Investment Grade 25.5%
Columbia Core Bond ETF(a)
2,818,402
84,721,177
Total Exchange-Traded Fixed Income Funds
(Cost $90,537,357)
84,721,177
 
Fixed Income Funds 24.4%
 
 
 
Emerging Markets 2.9%
Columbia Emerging Markets Bond Fund,
Institutional 3 Class(a)
962,739
9,752,544
High Yield 3.9%
Columbia High Yield Bond Fund, Institutional 3
Class(a)
1,149,047
12,765,911
Investment Grade 17.6%
Columbia Quality Income Fund, Institutional 3
Class(a)
1,236,727
22,322,919
Columbia Select Corporate Income Fund,
Institutional 3 Class(a)
3,642,466
33,292,139
Columbia U.S. Treasury Index Fund, Institutional 3
Class(a)
301,656
2,989,413
Total
58,604,471
Total Fixed Income Funds
(Cost $85,763,772)
81,122,926
 
Money Market Funds 3.9%
 
 
 
Columbia Short-Term Cash Fund, 3.810%(a),(c)
12,957,373
12,952,190
Total Money Market Funds
(Cost $12,953,163)
12,952,190
Total Investments in Securities
(Cost: $313,383,045)
329,487,674
Other Assets & Liabilities, Net
3,035,980
Net Assets
332,523,654
At April 30, 2026, securities and/or cash totaling $2,781,853 were pledged as collateral.
6
Columbia Capital Allocation Moderate Conservative Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Conservative Portfolio, April 30, 2026 (Unaudited)
Investments in derivatives 
Forward foreign currency exchange contracts
Currency to
be sold
Currency to
be purchased
Counterparty
Settlement
date
Unrealized
appreciation ($)
Unrealized
depreciation ($)
502,000 AUD
360,767 USD
Barclays
05/27/2026
—
(494
)
2,119,000 NOK
228,533 USD
Barclays
05/27/2026
—
(131
)
6,780,138 USD
1,071,973,000 JPY
Barclays
05/27/2026
81,319
—
186,621 USD
315,000 NZD
Barclays
05/27/2026
—
(385
)
3,010,000 SEK
327,594 USD
Citi
05/27/2026
1,169
—
4,391,400 USD
3,244,000 GBP
Citi
05/27/2026
22,774
—
647,845 USD
102,907,000 JPY
HSBC
05/27/2026
10,839
—
1,288,908 USD
2,187,000 NZD
HSBC
05/27/2026
4,101
—
2,463,000 CAD
1,802,508 USD
JPMorgan Chase Bank
05/27/2026
—
(12,535
)
197,000 EUR
231,577 USD
JPMorgan Chase Bank
05/27/2026
110
—
1,643,000 CHF
2,115,060 USD
Morgan Stanley Bank
05/27/2026
6,866
—
1,234,000 CAD
907,844 USD
State Street
05/27/2026
—
(1,520
)
2,031,067 USD
18,953,000 NOK
UBS
05/27/2026
14,170
—
2,702,000 AUD
1,934,064 USD
Wells Fargo
05/27/2026
—
(10,412
)
3,874,000 EUR
4,571,503 USD
Wells Fargo
05/27/2026
19,704
—
37,075,000 SEK
4,063,281 USD
Wells Fargo
05/27/2026
42,618
—
89,530 USD
70,000 CHF
Wells Fargo
05/27/2026
289
—
1,090,029 USD
804,000 GBP
Wells Fargo
05/27/2026
3,990
—
Total
 
 
207,949
(25,477
)
 
Long futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Bloomberg HY Credit
15
06/2026
USD
1,698,750
12,321
—
Bloomberg IG Credit
23
06/2026
USD
2,455,710
—
(5,587
)
CAC40 Index
50
05/2026
EUR
4,027,750
—
(111,304
)
FTSE 100 Index
49
06/2026
GBP
5,085,465
264,844
—
MSCI Emerging Markets Index
43
06/2026
USD
3,513,530
297,052
—
Russell 2000 Index E-mini
18
06/2026
USD
2,527,020
252,855
—
S&P 500 Index E-mini
8
06/2026
USD
2,897,500
300,886
—
S&P/TSX 60 Index
23
06/2026
CAD
9,127,320
307,023
—
U.S. Treasury 10-Year Note
79
06/2026
USD
8,736,906
—
(214,931
)
U.S. Treasury Ultra Bond
7
06/2026
USD
805,219
—
(36,774
)
Total
 
 
 
1,434,981
(368,596
)
 
Short futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Euro STOXX 50 Index
(233)
06/2026
EUR
(13,607,200
)
—
(828,532
)
FTSE/MIB Index
(17)
06/2026
EUR
(4,052,205
)
—
(390,052
)
MSCI EAFE Index
(19)
06/2026
USD
(2,893,795
)
—
(110,440
)
Total
 
 
 
—
(1,329,024
)
 
Columbia Capital Allocation Moderate Conservative Portfolio | 2026
7
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Conservative Portfolio, April 30, 2026 (Unaudited)
Total return swap contracts
Fund receives
Fund pays
Payment
frequency
Counterparty
Maturity
date
Notional
currency
Notional
amount
Value
($)
Periodic
payments
receivable
(payable)
($)
Upfront
payments
($)
Upfront
receipts
($)
Unrealized
appreciation
($)
Unrealized
depreciation
($)
Total return on
Russell 1000
Value Index Total
Return
SOFR plus 0.670%
Monthly
Goldman Sachs
International
01/29/2027
USD
4,091,104
333,641
(14,712
)
—
—
318,929
—
SOFR plus 0.590%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
01/29/2027
USD
3,817,712
(454,123
)
13,474
—
—
—
(440,649
)
Total return on
Russell 1000
Value Index Total
Return
SOFR plus 0.670%
Monthly
Goldman Sachs
International
04/30/2027
USD
3,306,987
(661
)
—
—
—
—
(661
)
SOFR plus 0.580%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
04/30/2027
USD
3,308,015
(662
)
—
—
—
—
(662
)
Total
 
 
 
 
 
(121,805
)
(1,238
)
—
—
318,929
(441,972
)
 
Reference index and values for swap contracts as of period end
Reference index
 
Reference rate
SOFR
Secured Overnight Financing Rate
3.630%
Notes to Portfolio of Investments 
(a)
Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended April 30, 2026 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 Bond Fund, Institutional 3 Class
 
78,685,060
410,907
(84,634,644
)*
5,538,677
—
—
(90,456
)
404,604
—
Columbia Contrarian Core Fund, Institutional 3 Class
 
24,838,667
92,736
(391,919
)
700,100
25,239,584
—
131,370
—
607,597
Columbia Core Bond ETF
 
—
90,537,357
*
—
(5,816,180
)
84,721,177
—
—
135,930
2,818,402
Columbia Cornerstone Equity Fund, Institutional 3 Class
 
24,938,042
83,577
(341,781
)
419,726
25,099,564
—
162,357
—
1,036,315
Columbia Cornerstone Growth Fund, Institutional 3 Class
 
10,532,066
68,798
(113,067
)
310,380
10,798,177
—
30,143
—
127,759
Columbia Disciplined Core Fund, Institutional 3 Class
 
24,552,289
101,264
(219,020
)
796,735
25,231,268
—
48,115
—
1,588,871
Columbia Emerging Markets Bond Fund, Institutional 3 Class
 
9,990,328
125,897
(361,938
)
(1,743
)
9,752,544
—
(58,629
)
124,335
962,739
Columbia Emerging Markets Fund, Institutional 3 Class
 
5,353,383
20,318
(529,761
)
557,461
5,401,401
—
129,254
—
259,808
8
Columbia Capital Allocation Moderate Conservative Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Conservative Portfolio, April 30, 2026 (Unaudited)
Notes to Portfolio of Investments (continued)
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 High Yield Bond Fund, Institutional 3 Class
 
19,932,655
307,765
(7,993,357
)
518,848
12,765,911
—
(647,884
)
294,951
1,149,047
Columbia Intrinsic Value Fund, Institutional 3 Class
 
10,001,290
38,249
(443,630
)
460,519
10,056,428
—
47,195
20,418
500,569
Columbia Multi Strategy Alternatives Fund, Institutional Class
 
—
16,139,605
(729,279
)
198,728
15,609,054
—
4,796
—
537,132
Columbia Overseas Core Fund, Institutional 3 Class
 
22,268,102
98,355
(586,011
)
(67,821
)
21,712,625
—
170,478
—
1,628,854
Columbia Quality Income Fund, Institutional 3 Class
 
23,310,725
235,112
(1,242,110
)
19,192
22,322,919
—
(243,338
)
230,987
1,236,727
Columbia Research Enhanced Emerging Economies ETF
 
6,569,297
—
—
633,182
7,202,479
—
—
—
221,114
Columbia Select Corporate Income Fund, Institutional 3 Class
 
34,800,792
402,128
(1,755,466
)
(155,315
)
33,292,139
—
(295,834
)
396,523
3,642,466
Columbia Select Small Cap Value Fund, Institutional 3 Class
 
2,083,257
7,012
(147,683
)
228,717
2,171,303
—
10,286
—
79,593
Columbia Short-Term Cash Fund, 3.810%
 
12,589,568
6,720,506
(6,357,029
)
(855
)
12,952,190
—
(319
)
113,499
12,957,373
Columbia Small Cap Growth Fund, Institutional 3 Class
 
2,025,020
20,172
(21,836
)
146,142
2,169,498
—
(1,460
)
—
55,671
Columbia U.S. Treasury Index Fund, Institutional 3 Class
 
19,960,338
133,097
(19,255,835
)
2,151,813
2,989,413
—
(2,283,401
)
129,577
301,656
Total
332,430,879
6,638,306
329,487,674
—
(2,887,327
)
1,850,824
 
*
Includes the effect of affiliated issuers acquired in the fund reorganization.
 
(b)
Non-income producing investment.
(c)
The rate shown is the seven-day current annualized yield at April 30, 2026.
Currency Legend 
AUD
Australian Dollar
CAD
Canadian Dollar
CHF
Swiss Franc
EUR
Euro
GBP
British Pound
JPY
Japanese Yen
NOK
Norwegian Krone
NZD
New Zealand Dollar
SEK
Swedish Krona
USD
US Dollar
Investments are valued using policies described in the Notes to Financial Statements included within the most recent financial statements and additional information.
Columbia Capital Allocation Moderate Conservative Portfolio | 2026
9
Portfolio of Investments
Columbia Capital Allocation Moderate Portfolio, April 30, 2026 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
 
 
Alternative Strategies Funds 4.3%
 
Shares
Value ($)
Columbia Commodity Strategy Fund, Institutional
3 Class(a)
362,018
4,970,513
Columbia Multi Strategy Alternatives Fund,
Institutional Class(a),(b)
1,401,076
40,715,260
Total Alternative Strategies Funds
(Cost $43,789,354)
45,685,773
 
Equity Funds 52.6%
 
 
 
International 12.2%
Columbia Emerging Markets Fund, Institutional 3
Class(a)
1,238,565
25,749,768
Columbia Overseas Core Fund, Institutional 3
Class(a)
7,757,941
103,413,356
Total
129,163,124
U.S. Large Cap 38.8%
Columbia Contrarian Core Fund, Institutional 3
Class(a)
2,578,259
107,100,884
Columbia Cornerstone Equity Fund, Institutional
3 Class(a)
4,399,285
106,550,670
Columbia Cornerstone Growth Fund, Institutional
3 Class(a),(b)
1,186,731
100,302,491
Columbia Intrinsic Value Fund, Institutional 3
Class(a)
4,785,066
96,131,979
Total
410,086,024
U.S. Small Cap 1.6%
Columbia Select Small Cap Value Fund,
Institutional 3 Class(a)
305,670
8,338,668
Columbia Small Cap Growth Fund, Institutional 3
Class(a),(b)
228,321
8,897,672
Total
17,236,340
Total Equity Funds
(Cost $436,750,708)
556,485,488
 
Exchange-Traded Equity Funds 3.1%
 
 
 
Emerging Markets 3.1%
Columbia Research Enhanced Emerging
Economies ETF(a)
1,019,992
33,224,812
Total Exchange-Traded Equity Funds
(Cost $25,581,399)
33,224,812
 
Exchange-Traded Fixed Income Funds 21.2%
 
Shares
Value ($)
Investment Grade 21.2%
Columbia Core Bond ETF(a)
7,458,515
224,202,976
Total Exchange-Traded Fixed Income Funds
(Cost $236,335,032)
224,202,976
 
Fixed Income Funds 15.6%
 
 
 
Emerging Markets 2.2%
Columbia Emerging Markets Bond Fund,
Institutional 3 Class(a)
2,268,394
22,978,828
High Yield 2.3%
Columbia High Yield Bond Fund, Institutional 3
Class(a)
2,181,977
24,241,771
Investment Grade 11.1%
Columbia Quality Income Fund, Institutional 3
Class(a)
2,218,331
40,040,873
Columbia Select Corporate Income Fund,
Institutional 3 Class(a)
8,489,842
77,597,156
Total
117,638,029
Total Fixed Income Funds
(Cost $178,170,175)
164,858,628
 
Money Market Funds 2.1%
 
 
 
Columbia Short-Term Cash Fund, 3.810%(a),(c)
22,551,314
22,542,293
Total Money Market Funds
(Cost $22,543,494)
22,542,293
Total Investments in Securities
(Cost: $943,170,162)
1,046,999,970
Other Assets & Liabilities, Net
11,425,322
Net Assets
1,058,425,292
At April 30, 2026, securities and/or cash totaling $10,532,282 were pledged as collateral.
10
Columbia Capital Allocation Moderate Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Portfolio, April 30, 2026 (Unaudited)
Investments in derivatives 
Forward foreign currency exchange contracts
Currency to
be sold
Currency to
be purchased
Counterparty
Settlement
date
Unrealized
appreciation ($)
Unrealized
depreciation ($)
1,584,000 AUD
1,138,357 USD
Barclays
05/27/2026
—
(1,558
)
6,781,000 NOK
731,326 USD
Barclays
05/27/2026
—
(418
)
21,531,863 USD
3,404,293,000 JPY
Barclays
05/27/2026
258,247
—
587,708 USD
992,000 NZD
Barclays
05/27/2026
—
(1,213
)
9,435,000 SEK
1,026,861 USD
Citi
05/27/2026
3,665
—
13,945,807 USD
10,302,000 GBP
Citi
05/27/2026
72,324
—
2,034,398 USD
323,154,000 JPY
HSBC
05/27/2026
34,037
—
4,094,215 USD
6,947,000 NZD
HSBC
05/27/2026
13,028
—
7,823,000 CAD
5,725,140 USD
JPMorgan Chase Bank
05/27/2026
—
(39,814
)
614,000 EUR
721,767 USD
JPMorgan Chase Bank
05/27/2026
341
—
5,219,000 CHF
6,718,503 USD
Morgan Stanley Bank
05/27/2026
21,809
—
3,907,000 CAD
2,874,347 USD
State Street
05/27/2026
—
(4,813
)
6,450,161 USD
60,190,000 NOK
UBS
05/27/2026
44,999
—
8,580,000 AUD
6,141,478 USD
Wells Fargo
05/27/2026
—
(33,062
)
12,302,000 EUR
14,516,941 USD
Wells Fargo
05/27/2026
62,570
—
117,740,000 SEK
12,903,862 USD
Wells Fargo
05/27/2026
135,342
—
292,892 USD
229,000 CHF
Wells Fargo
05/27/2026
947
—
3,446,334 USD
2,542,000 GBP
Wells Fargo
05/27/2026
12,614
—
Total
 
 
659,923
(80,878
)
 
Long futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Bloomberg HY Credit
47
06/2026
USD
5,322,750
38,604
—
CAC40 Index
182
05/2026
EUR
14,661,010
—
(405,145
)
FTSE 100 Index
172
06/2026
GBP
17,851,020
929,656
—
MSCI Emerging Markets Index
164
06/2026
USD
13,400,440
1,132,943
—
Russell 2000 Index E-mini
62
06/2026
USD
8,704,180
870,946
—
S&P 500 Index E-mini
45
06/2026
USD
16,298,438
1,692,484
—
S&P/TSX 60 Index
85
06/2026
CAD
33,731,400
1,134,652
—
U.S. Treasury 10-Year Note
244
06/2026
USD
26,984,875
—
(663,839
)
Total
 
 
 
5,799,285
(1,068,984
)
 
Short futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Euro STOXX 50 Index
(804)
06/2026
EUR
(46,953,600
)
—
(2,858,822
)
FTSE/MIB Index
(67)
06/2026
EUR
(15,970,455
)
—
(1,537,263
)
MSCI EAFE Index
(98)
06/2026
USD
(14,925,890
)
—
(569,637
)
Total
 
 
 
—
(4,965,722
)
 
Columbia Capital Allocation Moderate Portfolio | 2026
11
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Portfolio, April 30, 2026 (Unaudited)
Total return swap contracts
Fund receives
Fund pays
Payment
frequency
Counterparty
Maturity
date
Notional
currency
Notional
amount
Value
($)
Periodic
payments
receivable
(payable)
($)
Upfront
payments
($)
Upfront
receipts
($)
Unrealized
appreciation
($)
Unrealized
depreciation
($)
Total return on
Russell 1000
Value Index
Total Return
SOFR plus
0.670%
Monthly
Goldman Sachs
International
01/29/2027
USD
15,579,156
1,270,524
(56,022
)
—
—
1,214,502
—
SOFR plus
0.590%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
01/29/2027
USD
14,534,957
(1,728,958
)
51,298
—
—
—
(1,677,660
)
SOFR plus
0.580%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
04/30/2027
USD
10,497,832
(2,100
)
—
—
—
—
(2,100
)
Total return on
Russell 1000
Value Index
Total Return
SOFR plus
0.670%
Monthly
Goldman Sachs
International
04/30/2027
USD
10,504,753
(2,100
)
—
—
—
—
(2,100
)
Total
 
 
 
 
 
(462,634
)
(4,724
)
—
—
1,214,502
(1,681,860
)
 
Reference index and values for swap contracts as of period end
Reference index
 
Reference rate
SOFR
Secured Overnight Financing Rate
3.630%
Notes to Portfolio of Investments 
(a)
Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended April 30, 2026 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 Bond Fund, Institutional 3 Class
 
219,596,887
1,130,060
(234,964,515
)*
14,237,568
—
—
(193,906
)
1,130,028
—
Columbia Commodity Strategy Fund, Institutional 3 Class
 
5,328,892
26,883
(955,400
)
570,138
4,970,513
—
293,866
—
362,018
Columbia Contrarian Core Fund, Institutional 3 Class
 
105,018,423
112,972
(1,155,539
)
3,125,028
107,100,884
—
388,967
—
2,578,259
Columbia Core Bond ETF
 
—
254,293,456
*
(17,958,424
)
(12,132,056
)
224,202,976
—
(2,983,066
)
379,903
7,458,515
Columbia Cornerstone Equity Fund, Institutional 3 Class
 
104,901,348
134,010
(642,311
)
2,157,623
106,550,670
—
302,574
—
4,399,285
Columbia Cornerstone Growth Fund, Institutional 3 Class
 
97,542,139
377,793
(512,445
)
2,895,004
100,302,491
—
249,177
—
1,186,731
Columbia Emerging Markets Bond Fund, Institutional 3 Class
 
23,778,208
309,404
(1,058,975
)
(49,809
)
22,978,828
—
(92,420
)
292,916
2,268,394
Columbia Emerging Markets Fund, Institutional 3 Class
 
25,838,267
1,808
(1,637,664
)
1,547,357
25,749,768
—
1,757,657
—
1,238,565
12
Columbia Capital Allocation Moderate Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Portfolio, April 30, 2026 (Unaudited)
Notes to Portfolio of Investments (continued)
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 High Yield Bond Fund, Institutional 3 Class
 
47,549,218
762,360
(24,972,343
)
902,536
24,241,771
—
(1,215,689
)
695,669
2,181,977
Columbia Intrinsic Value Fund, Institutional 3 Class
 
95,491,143
193,730
(3,400,890
)
3,847,996
96,131,979
—
977,749
193,730
4,785,066
Columbia Multi Strategy Alternatives Fund, Institutional Class
 
—
40,381,951
(184,889
)
518,198
40,715,260
—
1,654
—
1,401,076
Columbia Overseas Core Fund, Institutional 3 Class
 
107,568,940
88,802
(3,940,923
)
(303,463
)
103,413,356
—
805,264
—
7,757,941
Columbia Quality Income Fund, Institutional 3 Class
 
41,686,602
465,364
(2,143,884
)
32,791
40,040,873
—
(438,230
)
413,864
2,218,331
Columbia Research Enhanced Emerging Economies ETF
 
30,303,962
—
—
2,920,850
33,224,812
—
—
—
1,019,992
Columbia Select Corporate Income Fund, Institutional 3 Class
 
81,209,940
1,019,662
(4,356,014
)
(276,432
)
77,597,156
—
(775,082
)
923,003
8,489,842
Columbia Select Small Cap Value Fund, Institutional 3 Class
 
8,998,526
43,273
(1,576,137
)
873,006
8,338,668
—
87,692
—
305,670
Columbia Short-Term Cash Fund, 3.810%
 
22,201,037
21,642,877
(21,300,605
)
(1,016
)
22,542,293
—
(851
)
193,623
22,551,314
Columbia Small Cap Growth Fund, Institutional 3 Class
 
8,657,459
20,248
(395,382
)
615,347
8,897,672
—
(5,009
)
—
228,321
Columbia U.S. Treasury Index Fund, Institutional 3 Class
 
26,108,887
155,765
(26,065,901
)
(198,751
)
—
—
42,699
157,595
—
Total
1,051,779,878
21,281,915
1,046,999,970
—
(796,954
)
4,380,331
 
*
Includes the effect of affiliated issuers acquired in the fund reorganization.
 
(b)
Non-income producing investment.
(c)
The rate shown is the seven-day current annualized yield at April 30, 2026.
Currency Legend 
AUD
Australian Dollar
CAD
Canadian Dollar
CHF
Swiss Franc
EUR
Euro
GBP
British Pound
JPY
Japanese Yen
NOK
Norwegian Krone
NZD
New Zealand Dollar
SEK
Swedish Krona
USD
US Dollar
Investments are valued using policies described in the Notes to Financial Statements included within the most recent financial statements and additional information.
Columbia Capital Allocation Moderate Portfolio | 2026
13
Portfolio of Investments
Columbia Capital Allocation Moderate Aggressive Portfolio, April 30, 2026 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
 
 
Alternative Strategies Funds 3.8%
 
Shares
Value ($)
Columbia Commodity Strategy Fund, Institutional
3 Class(a)
1,272,329
17,469,086
Columbia Multi Strategy Alternatives Fund,
Institutional Class(a),(b)
1,763,666
51,252,130
Total Alternative Strategies Funds
(Cost $63,198,204)
68,721,216
 
Equity Funds 62.4%
 
 
 
International 12.3%
Columbia Emerging Markets Fund, Institutional 3
Class(a)
2,096,112
43,578,178
Columbia Overseas Core Fund, Institutional 3
Class(a)
13,265,071
176,823,394
Total
220,401,572
U.S. Large Cap 48.0%
Columbia Contrarian Core Fund, Institutional 3
Class(a)
5,460,440
226,826,660
Columbia Cornerstone Equity Fund, Institutional
3 Class(a)
9,197,165
222,755,324
Columbia Cornerstone Growth Fund, Institutional
3 Class(a),(b)
2,525,560
213,460,368
Columbia Intrinsic Value Fund, Institutional 3
Class(a)
9,837,131
197,627,965
Total
860,670,317
U.S. Small Cap 2.1%
Columbia Select Small Cap Value Fund,
Institutional 3 Class(a)
709,357
19,351,245
Columbia Small Cap Growth Fund, Institutional 3
Class(a),(b)
476,888
18,584,339
Total
37,935,584
Total Equity Funds
(Cost $873,651,061)
1,119,007,473
 
Exchange-Traded Equity Funds 3.1%
 
 
 
Emerging Markets 3.1%
Columbia Research Enhanced Emerging
Economies ETF(a)
1,699,055
55,344,338
Total Exchange-Traded Equity Funds
(Cost $42,612,299)
55,344,338
 
Exchange-Traded Fixed Income Funds 16.3%
 
Shares
Value ($)
Investment Grade 16.3%
Columbia Core Bond ETF(a)
9,747,511
293,010,181
Total Exchange-Traded Fixed Income Funds
(Cost $299,277,382)
293,010,181
 
Fixed Income Funds 11.3%
 
 
 
Emerging Markets 1.7%
Columbia Emerging Markets Bond Fund,
Institutional 3 Class(a)
2,971,863
30,104,967
High Yield 1.4%
Columbia High Yield Bond Fund, Institutional 3
Class(a)
2,189,945
24,330,294
Investment Grade 8.2%
Columbia Quality Income Fund, Institutional 3
Class(a)
3,270,411
59,030,924
Columbia Select Corporate Income Fund,
Institutional 3 Class(a)
9,719,716
88,838,204
Total
147,869,128
Total Fixed Income Funds
(Cost $220,661,504)
202,304,389
 
Money Market Funds 1.9%
 
 
 
Columbia Short-Term Cash Fund, 3.810%(a),(c)
34,401,338
34,387,577
Total Money Market Funds
(Cost $34,389,082)
34,387,577
Total Investments in Securities
(Cost: $1,533,789,532)
1,772,775,174
Other Assets & Liabilities, Net
21,664,618
Net Assets
1,794,439,792
At April 30, 2026, securities and/or cash totaling $20,070,514 were pledged as collateral.
14
Columbia Capital Allocation Moderate Aggressive Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Aggressive Portfolio, April 30, 2026 (Unaudited)
Investments in derivatives 
Forward foreign currency exchange contracts
Currency to
be sold
Currency to
be purchased
Counterparty
Settlement
date
Unrealized
appreciation ($)
Unrealized
depreciation ($)
2,700,000 AUD
1,940,382 USD
Barclays
05/27/2026
—
(2,655
)
11,354,000 NOK
1,224,521 USD
Barclays
05/27/2026
—
(700
)
36,411,313 USD
5,756,807,000 JPY
Barclays
05/27/2026
436,708
—
1,003,607 USD
1,694,000 NZD
Barclays
05/27/2026
—
(2,071
)
16,221,000 SEK
1,765,417 USD
Citi
05/27/2026
6,302
—
23,582,790 USD
17,421,000 GBP
Citi
05/27/2026
122,301
—
3,489,370 USD
554,269,000 JPY
HSBC
05/27/2026
58,380
—
6,923,094 USD
11,747,000 NZD
HSBC
05/27/2026
22,029
—
13,229,000 CAD
9,681,436 USD
JPMorgan Chase Bank
05/27/2026
—
(67,328
)
1,065,000 EUR
1,251,926 USD
JPMorgan Chase Bank
05/27/2026
592
—
8,825,000 CHF
11,360,564 USD
Morgan Stanley Bank
05/27/2026
36,877
—
6,631,000 CAD
4,878,372 USD
State Street
05/27/2026
—
(8,169
)
10,907,406 USD
101,783,000 NOK
UBS
05/27/2026
76,095
—
14,508,000 AUD
10,384,681 USD
Wells Fargo
05/27/2026
—
(55,904
)
20,804,000 EUR
24,549,702 USD
Wells Fargo
05/27/2026
105,813
—
199,104,000 SEK
21,821,051 USD
Wells Fargo
05/27/2026
228,869
—
480,905 USD
376,000 CHF
Wells Fargo
05/27/2026
1,555
—
5,865,005 USD
4,326,000 GBP
Wells Fargo
05/27/2026
21,467
—
Total
 
 
1,116,988
(136,827
)
 
Long futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Bloomberg HY Credit
79
06/2026
USD
8,946,750
64,888
—
Bloomberg IG Credit
126
06/2026
USD
13,453,020
—
(30,609
)
CAC40 Index
323
05/2026
EUR
26,019,265
—
(719,021
)
FTSE 100 Index
321
06/2026
GBP
33,314,985
1,734,998
—
MSCI Emerging Markets Index
341
06/2026
USD
27,863,110
2,355,693
—
Russell 2000 Index E-mini
124
06/2026
USD
17,408,360
1,741,892
—
S&P 500 Index E-mini
94
06/2026
USD
34,045,625
3,340,496
—
S&P/TSX 60 Index
160
06/2026
CAD
63,494,400
2,135,815
—
U.S. Treasury 10-Year Note
263
06/2026
USD
29,086,156
—
(715,531
)
Total
 
 
 
11,373,782
(1,465,161
)
 
Short futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Euro STOXX 50 Index
(1,478)
06/2026
EUR
(86,315,200
)
—
(5,266,222
)
FTSE/MIB Index
(118)
06/2026
EUR
(28,127,070
)
—
(2,707,419
)
MSCI EAFE Index
(176)
06/2026
USD
(26,805,680
)
—
(1,023,022
)
Total
 
 
 
—
(8,996,663
)
 
Columbia Capital Allocation Moderate Aggressive Portfolio | 2026
15
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Aggressive Portfolio, April 30, 2026 (Unaudited)
Total return swap contracts
Fund receives
Fund pays
Payment
frequency
Counterparty
Maturity
date
Notional
currency
Notional
amount
Value
($)
Periodic
payments
receivable
(payable)
($)
Upfront
payments
($)
Upfront
receipts
($)
Unrealized
appreciation
($)
Unrealized
depreciation
($)
Total return on
Russell 1000
Value Index
Total Return
SOFR plus
0.670%
Monthly
Goldman Sachs
International
01/29/2027
USD
30,650,963
2,499,672
(110,220
)
—
—
2,389,452
—
SOFR plus
0.590%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
01/29/2027
USD
28,588,241
(3,400,621
)
100,897
—
—
—
(3,299,724
)
SOFR plus
0.580%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
04/30/2027
USD
17,787,439
(3,558
)
—
—
—
—
(3,558
)
Total return on
Russell 1000
Value Index
Total Return
SOFR plus
0.670%
Monthly
Goldman Sachs
International
04/30/2027
USD
17,796,904
(3,559
)
—
—
—
—
(3,559
)
Total
 
 
 
 
 
(908,066
)
(9,323
)
—
—
2,389,452
(3,306,841
)
 
Reference index and values for swap contracts as of period end
Reference index
 
Reference rate
SOFR
Secured Overnight Financing Rate
3.630%
Notes to Portfolio of Investments 
(a)
Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended April 30, 2026 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 Bond Fund, Institutional 3 Class
 
275,366,344
1,418,918
(285,139,545
)*
8,354,283
—
—
(122,304
)
1,418,912
—
Columbia Commodity Strategy Fund, Institutional 3 Class
 
18,344,006
—
(2,959,699
)
2,084,779
17,469,086
—
860,551
—
1,272,329
Columbia Contrarian Core Fund, Institutional 3 Class
 
221,166,304
691
(1,326,461
)
6,986,126
226,826,660
—
445,909
—
5,460,440
Columbia Core Bond ETF
 
—
319,205,567
*
(19,928,185
)
(6,267,201
)
293,010,181
—
(3,317,053
)
477,527
9,747,511
Columbia Cornerstone Equity Fund, Institutional 3 Class
 
218,813,303
761
(816,687
)
4,757,947
222,755,324
—
385,573
—
9,197,165
Columbia Cornerstone Growth Fund, Institutional 3 Class
 
207,702,154
2,094
(611,264
)
6,367,384
213,460,368
—
297,732
—
2,525,560
Columbia Emerging Markets Bond Fund, Institutional 3 Class
 
30,973,944
383,626
(974,894
)
(277,709
)
30,104,967
—
86,041
383,600
2,971,863
Columbia Emerging Markets Fund, Institutional 3 Class
 
43,966,810
96
(2,892,850
)
2,504,122
43,578,178
—
3,134,561
—
2,096,112
16
Columbia Capital Allocation Moderate Aggressive Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Moderate Aggressive Portfolio, April 30, 2026 (Unaudited)
Notes to Portfolio of Investments (continued)
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 High Yield Bond Fund, Institutional 3 Class
 
62,144,389
913,278
(39,108,198
)
380,825
24,330,294
—
(790,075
)
913,272
2,189,945
Columbia Intrinsic Value Fund, Institutional 3 Class
 
197,110,524
401,415
(7,448,906
)
7,564,932
197,627,965
—
2,313,016
401,415
9,837,131
Columbia Multi Strategy Alternatives Fund, Institutional Class
 
—
50,723,499
(123,925
)
652,556
51,252,130
—
1,130
—
1,763,666
Columbia Overseas Core Fund, Institutional 3 Class
 
183,013,538
320
(5,501,561
)
(688,903
)
176,823,394
—
1,526,990
—
13,265,071
Columbia Quality Income Fund, Institutional 3 Class
 
61,301,749
608,933
(2,832,577
)
(47,181
)
59,030,924
—
(553,705
)
608,911
3,270,411
Columbia Research Enhanced Emerging Economies ETF
 
50,478,924
—
—
4,865,414
55,344,338
—
—
—
1,699,055
Columbia Select Corporate Income Fund, Institutional 3 Class
 
92,369,541
1,052,836
(4,120,512
)
(463,661
)
88,838,204
—
(741,587
)
1,052,821
9,719,716
Columbia Select Small Cap Value Fund, Institutional 3 Class
 
19,201,899
—
(1,888,168
)
2,037,514
19,351,245
—
100,880
—
709,357
Columbia Short-Term Cash Fund, 3.810%
 
34,799,029
38,332,590
(38,742,653
)
(1,389
)
34,387,577
—
(1,421
)
298,200
34,401,338
Columbia Small Cap Growth Fund, Institutional 3 Class
 
18,485,329
181
(1,064,914
)
1,163,743
18,584,339
—
138,677
—
476,888
Columbia U.S. Treasury Index Fund, Institutional 3 Class
 
34,967,655
208,017
(40,528,771
)
5,353,099
—
—
(5,564,588
)
211,534
—
Total
1,770,205,442
45,326,680
1,772,775,174
—
(1,799,673
)
5,766,192
 
*
Includes the effect of affiliated issuers acquired in the fund reorganization.
 
(b)
Non-income producing investment.
(c)
The rate shown is the seven-day current annualized yield at April 30, 2026.
Currency Legend 
AUD
Australian Dollar
CAD
Canadian Dollar
CHF
Swiss Franc
EUR
Euro
GBP
British Pound
JPY
Japanese Yen
NOK
Norwegian Krone
NZD
New Zealand Dollar
SEK
Swedish Krona
USD
US Dollar
Investments are valued using policies described in the Notes to Financial Statements included within the most recent financial statements and additional information.
Columbia Capital Allocation Moderate Aggressive Portfolio | 2026
17
Portfolio of Investments
Columbia Capital Allocation Aggressive Portfolio, April 30, 2026 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
 
 
Alternative Strategies Funds 3.4%
 
Shares
Value ($)
Columbia Commodity Strategy Fund, Institutional
3 Class(a)
1,589,089
21,818,200
Columbia Multi Strategy Alternatives Fund,
Institutional Class(a),(b)
930,543
27,041,585
Total Alternative Strategies Funds
(Cost $42,431,247)
48,859,785
 
Equity Funds 76.0%
 
 
 
International 16.5%
Columbia Emerging Markets Fund, Institutional 3
Class(a)
2,282,105
47,444,955
Columbia Overseas Core Fund, Institutional 3
Class(a)
14,222,185
189,581,727
Total
237,026,682
U.S. Large Cap 56.9%
Columbia Contrarian Core Fund, Institutional 3
Class(a)
5,305,147
220,375,808
Columbia Cornerstone Equity Fund, Institutional
3 Class(a)
8,731,502
211,476,968
Columbia Cornerstone Growth Fund, Institutional
3 Class(a),(b)
2,365,609
199,941,307
Columbia Intrinsic Value Fund, Institutional 3
Class(a)
9,330,727
187,454,313
Total
819,248,396
U.S. Small Cap 2.6%
Columbia Select Small Cap Value Fund,
Institutional 3 Class(a)
703,986
19,204,731
Columbia Small Cap Growth Fund, Institutional 3
Class(a),(b)
480,083
18,708,838
Total
37,913,569
Total Equity Funds
(Cost $827,060,980)
1,094,188,647
 
Exchange-Traded Equity Funds 4.0%
 
 
 
Emerging Markets 4.0%
Columbia Research Enhanced Emerging
Economies ETF(a)
1,778,635
57,936,545
Total Exchange-Traded Equity Funds
(Cost $44,608,166)
57,936,545
 
Exchange-Traded Fixed Income Funds 4.7%
 
Shares
Value ($)
Investment Grade 4.7%
Columbia Core Bond ETF(a)
2,263,060
68,027,593
Total Exchange-Traded Fixed Income Funds
(Cost $67,886,088)
68,027,593
 
Fixed Income Funds 8.7%
 
 
 
Emerging Markets 1.0%
Columbia Emerging Markets Bond Fund,
Institutional 3 Class(a)
1,357,696
13,753,461
High Yield 1.0%
Columbia High Yield Bond Fund, Institutional 3
Class(a)
1,306,903
14,519,692
Investment Grade 6.7%
Columbia Quality Income Fund, Institutional 3
Class(a)
2,609,362
47,098,974
Columbia Select Corporate Income Fund,
Institutional 3 Class(a)
5,359,989
48,990,303
Total
96,089,277
Total Fixed Income Funds
(Cost $121,462,737)
124,362,430
 
Money Market Funds 1.9%
 
 
 
Columbia Short-Term Cash Fund, 3.810%(a),(c)
27,096,808
27,085,969
Total Money Market Funds
(Cost $27,087,004)
27,085,969
Total Investments in Securities
(Cost: $1,130,536,222)
1,420,460,969
Other Assets & Liabilities, Net
19,037,677
Net Assets
1,439,498,646
At April 30, 2026, securities and/or cash totaling $17,670,174 were pledged as collateral.
18
Columbia Capital Allocation Aggressive Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Aggressive Portfolio, April 30, 2026 (Unaudited)
Investments in derivatives 
Forward foreign currency exchange contracts
Currency to
be sold
Currency to
be purchased
Counterparty
Settlement
date
Unrealized
appreciation ($)
Unrealized
depreciation ($)
2,158,000 AUD
1,550,868 USD
Barclays
05/27/2026
—
(2,122
)
9,148,000 NOK
986,605 USD
Barclays
05/27/2026
—
(564
)
29,209,234 USD
4,618,123,000 JPY
Barclays
05/27/2026
350,328
—
802,174 USD
1,354,000 NZD
Barclays
05/27/2026
—
(1,655
)
12,920,000 SEK
1,406,151 USD
Citi
05/27/2026
5,019
—
18,917,944 USD
13,975,000 GBP
Citi
05/27/2026
98,109
—
2,782,209 USD
441,940,000 JPY
HSBC
05/27/2026
46,549
—
5,553,445 USD
9,423,000 NZD
HSBC
05/27/2026
17,671
—
10,612,000 CAD
7,766,226 USD
JPMorgan Chase Bank
05/27/2026
—
(54,009
)
845,000 EUR
993,312 USD
JPMorgan Chase Bank
05/27/2026
470
—
7,079,000 CHF
9,112,910 USD
Morgan Stanley Bank
05/27/2026
29,581
—
5,311,000 CAD
3,907,259 USD
State Street
05/27/2026
—
(6,543
)
8,749,993 USD
81,651,000 NOK
UBS
05/27/2026
61,044
—
11,639,000 AUD
8,331,080 USD
Wells Fargo
05/27/2026
—
(44,849
)
16,689,000 EUR
19,693,808 USD
Wells Fargo
05/27/2026
84,884
—
159,722,000 SEK
17,504,932 USD
Wells Fargo
05/27/2026
183,600
—
390,096 USD
305,000 CHF
Wells Fargo
05/27/2026
1,261
—
4,692,275 USD
3,461,000 GBP
Wells Fargo
05/27/2026
17,175
—
Total
 
 
895,691
(109,742
)
 
Long futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Bloomberg HY Credit
63
06/2026
USD
7,134,750
51,746
—
Bloomberg IG Credit
134
06/2026
USD
14,307,180
—
(32,552
)
CAC40 Index
273
05/2026
EUR
21,991,515
—
(607,718
)
FTSE 100 Index
280
06/2026
GBP
29,059,800
1,513,394
—
MSCI Emerging Markets Index
308
06/2026
USD
25,166,680
2,127,723
—
Russell 2000 Index E-mini
108
06/2026
USD
15,162,120
1,517,132
—
S&P 500 Index E-mini
104
06/2026
USD
37,667,500
3,287,791
—
S&P/TSX 60 Index
140
06/2026
CAD
55,557,600
1,868,838
—
U.S. Treasury 10-Year Note
190
06/2026
USD
21,012,813
—
(516,924
)
Total
 
 
 
10,366,624
(1,157,194
)
 
Short futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
Euro STOXX 50 Index
(1,271)
06/2026
EUR
(74,226,400
)
—
(4,539,790
)
FTSE/MIB Index
(95)
06/2026
EUR
(22,644,675
)
—
(2,179,702
)
MSCI EAFE Index
(171)
06/2026
USD
(26,044,155
)
—
(993,959
)
Total
 
 
 
—
(7,713,451
)
 
Columbia Capital Allocation Aggressive Portfolio | 2026
19
Portfolio of Investments  (continued)
Columbia Capital Allocation Aggressive Portfolio, April 30, 2026 (Unaudited)
Total return swap contracts
Fund receives
Fund pays
Payment
frequency
Counterparty
Maturity
date
Notional
currency
Notional
amount
Value
($)
Periodic
payments
receivable
(payable)
($)
Upfront
payments
($)
Upfront
receipts
($)
Unrealized
appreciation
($)
Unrealized
depreciation
($)
Total return on
Russell 1000
Value Index
Total Return
SOFR plus
0.670%
Monthly
Goldman Sachs
International
01/29/2027
USD
27,936,486
2,278,298
(100,458
)
—
—
2,177,840
—
SOFR plus
0.590%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
01/29/2027
USD
26,063,912
(3,100,347
)
91,987
—
—
—
(3,008,360
)
SOFR plus
0.580%
Total return on
Russell 1000
Growth Total
Return
Monthly
Goldman Sachs
International
04/30/2027
USD
14,249,909
(2,851
)
—
—
—
—
(2,851
)
Total return on
Russell 1000
Value Index
Total Return
SOFR plus
0.670%
Monthly
Goldman Sachs
International
04/30/2027
USD
14,259,197
(2,851
)
—
—
—
—
(2,851
)
Total
 
 
 
 
 
(827,751
)
(8,471
)
—
—
2,177,840
(3,014,062
)
 
Reference index and values for swap contracts as of period end
Reference index
 
Reference rate
SOFR
Secured Overnight Financing Rate
3.630%
Notes to Portfolio of Investments 
(a)
Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended April 30, 2026 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 Bond Fund, Institutional 3 Class
 
62,243,617
320,946
(62,102,983
)*
(461,580
)
—
—
—
320,946
—
Columbia Commodity Strategy Fund, Institutional 3 Class
 
22,197,805
266
(3,092,996
)
2,713,125
21,818,200
—
894,385
—
1,589,089
Columbia Contrarian Core Fund, Institutional 3 Class
 
214,562,927
75,480
(1,013,531
)
6,750,932
220,375,808
—
459,665
—
5,305,147
Columbia Core Bond ETF
 
—
74,274,193
*
(6,388,105
)
141,505
68,027,593
—
3,560
108,199
2,263,060
Columbia Cornerstone Equity Fund, Institutional 3 Class
 
207,831,468
83,701
(743,387
)
4,305,186
211,476,968
—
577,503
—
8,731,502
Columbia Cornerstone Growth Fund, Institutional 3 Class
 
194,275,660
205,551
(518,962
)
5,979,058
199,941,307
—
287,324
—
2,365,609
Columbia Emerging Markets Bond Fund, Institutional 3 Class
 
13,923,426
177,512
(241,759
)
(105,718
)
13,753,461
—
22,201
173,918
1,357,696
Columbia Emerging Markets Fund, Institutional 3 Class
 
47,654,948
1,571
(6,303,659
)
6,092,095
47,444,955
—
26,561
—
2,282,105
20
Columbia Capital Allocation Aggressive Portfolio | 2026
Portfolio of Investments  (continued)
Columbia Capital Allocation Aggressive Portfolio, April 30, 2026 (Unaudited)
Notes to Portfolio of Investments (continued)
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 High Yield Bond Fund, Institutional 3 Class
 
27,844,668
422,106
(13,705,577
)
(41,505
)
14,519,692
—
(136,171
)
412,685
1,306,903
Columbia Intrinsic Value Fund, Institutional 3 Class
 
186,222,451
379,239
(6,376,914
)
7,229,537
187,454,313
—
2,081,142
379,064
9,330,727
Columbia Multi Strategy Alternatives Fund, Institutional Class
 
—
26,792,848
(95,561
)
344,298
27,041,585
—
929
—
930,543
Columbia Overseas Core Fund, Institutional 3 Class
 
195,707,010
7,845
(4,576,975
)
(1,556,153
)
189,581,727
—
2,344,720
—
14,222,185
Columbia Quality Income Fund, Institutional 3 Class
 
48,053,391
502,946
(944,457
)
(512,906
)
47,098,974
—
39,379
481,035
2,609,362
Columbia Research Enhanced Emerging Economies ETF
 
52,843,246
—
—
5,093,299
57,936,545
—
—
—
1,778,635
Columbia Select Corporate Income Fund, Institutional 3 Class
 
50,025,926
595,074
(968,980
)
(661,717
)
48,990,303
—
11,867
574,776
5,359,989
Columbia Select Small Cap Value Fund, Institutional 3 Class
 
18,729,402
—
(1,547,697
)
2,023,026
19,204,731
—
71,811
—
703,986
Columbia Short-Term Cash Fund, 3.810%
 
28,138,077
33,900,069
(34,951,313
)
(864
)
27,085,969
—
(1,320
)
238,793
27,096,808
Columbia Small Cap Growth Fund, Institutional 3 Class
 
18,071,959
4,500
(425,173
)
1,057,552
18,708,838
—
218,446
—
480,083
Columbia U.S. Treasury Index Fund, Institutional 3 Class
 
20,555,147
132,305
(20,531,217
)
(156,235
)
—
—
32,645
124,697
—
Total
1,408,881,128
38,232,935
1,420,460,969
—
6,934,647
2,814,113
 
*
Includes the effect of affiliated issuers acquired in the fund reorganization.
 
(b)
Non-income producing investment.
(c)
The rate shown is the seven-day current annualized yield at April 30, 2026.
Currency Legend 
AUD
Australian Dollar
CAD
Canadian Dollar
CHF
Swiss Franc
EUR
Euro
GBP
British Pound
JPY
Japanese Yen
NOK
Norwegian Krone
NZD
New Zealand Dollar
SEK
Swedish Krona
USD
US Dollar
Investments are valued using policies described in the Notes to Financial Statements included within the most recent financial statements and additional information.
Columbia Capital Allocation Aggressive Portfolio | 2026
21
You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.
1QT124_(06/26)