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COLUMBIA OVERSEAS VALUE FUND

 

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

PORTFOLIO OF INVESTMENTS

Columbia Overseas Value Fund, November 30, 2023 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in securities

 

Common Stocks 97.2%

      

Issuer

    Shares      Value ($)  

Australia 1.8%

      

Northern Star Resources Ltd.

      5,914,564        49,423,913  
     

 

 

  

Brazil 0.7%

      

JBS S/A

      3,828,580        18,162,624  
     

 

 

  

Canada 4.1%

      

Cameco Corp.

      869,869        39,944,385  

Nutrien Ltd.

      207,264        11,082,406  

Pan American Silver Corp.

      874,991        13,702,359  

Teck Resources Ltd., Class B

      547,602        20,617,215  

Teekay Tankers Ltd., Class A

      152,511        7,578,272  

Vermilion Energy, Inc.

      1,748,351        22,081,673  
     

 

 

  

Total

         115,006,310  
     

 

 

  

China 0.8%

      

Guangdong Investment Ltd.

      31,892,000        22,133,953  
     

 

 

  

Finland 2.0%

      

UPM-Kymmene OYJ

      1,585,535        55,469,028  
     

 

 

  

France 14.1%

      

AXA SA

      2,332,866        72,739,655  

BNP Paribas SA

      899,391        56,542,053  

DBV Technologies SA, ADR(a)

      321,850        238,169  

Eiffage SA

      296,917        30,101,640  

Engie SA

      3,727,279        64,679,853  

Sanofi SA

      652,029        60,811,445  

TotalEnergies SE

      1,607,356        109,556,131  
     

 

 

  

Total

         394,668,946  
     

 

 

  

Germany 3.9%

      

Bayer AG, Registered Shares

      284,437        9,736,015  

Duerr AG

      699,867        15,426,465  

E.ON SE

      3,088,552        40,145,216  

KION Group AG

      328,236        11,969,806  

Mercedes-Benz Group AG, Registered Shares

      219,772        14,289,433  

Merck KGaA

      98,558        17,263,788  
     

 

 

  

Total

         108,830,723  
     

 

 

  

Greece 1.1%

      

Piraeus Financial Holdings SA(a)

      8,465,578        30,164,413  
     

 

 

  

 

Common Stocks (continued)

      

Issuer

    Shares      Value ($)  

Hong Kong 1.3%

      

WH Group Ltd.

      57,258,830        36,775,954  
     

 

 

  

Ireland 1.4%

      

Amarin Corp. PLC, ADR(a)

      299,272        234,031  

Bank of Ireland Group PLC

      2,910,794        27,253,154  

Flutter Entertainment PLC(a)

      82,102        12,811,354  
     

 

 

  

Total

         40,298,539  
     

 

 

  

Israel 3.4%

      

Bank Hapoalim BM

      2,631,989        22,236,017  

Bezeq Israeli Telecommunication Corp., Ltd.

      12,488,581        16,160,078  

Check Point Software Technologies Ltd.(a)

      382,226        55,804,996  
     

 

 

  

Total

         94,201,091  
     

 

 

  

Japan 22.4%

      

Dai-ichi Life Holdings, Inc.

      1,981,200        41,533,120  

Daiwabo Holdings Co., Ltd.

      2,031,500        39,961,247  

ITOCHU Corp.

      1,244,000        48,363,529  

Kinden Corp.

      1,113,100        16,719,010  

Kusuri no Aoki Holdings Co., Ltd.

      368,800        8,531,826  

Macnica Holdings, Inc.

      648,800        32,116,040  

Marubeni Corp.

      2,038,500        31,857,491  

MatsukiyoCocokara & Co.

      1,808,100        31,236,156  

Mebuki Financial Group, Inc.

      10,513,200        31,719,518  

ORIX Corp.

      2,581,000        47,152,387  

Sankyo Co., Ltd.

      895,600        38,661,680  

Shimamura Co., Ltd.

      446,000        49,850,023  

Ship Healthcare Holdings, Inc.

      1,205,800        17,036,239  

Sumitomo Mitsui Financial Group, Inc.

      1,447,400        71,208,392  

Sundrug Co., Ltd.

      300,900        9,091,621  

Takeda Pharmaceutical Co., Ltd.

      1,550,400        43,950,638  

Takuma Co., Ltd.

      791,945        8,744,695  

TOPPAN Holdings, Inc.

      1,274,100        29,836,055  

Toyota Motor Corp.

      1,422,000        26,997,878  
     

 

 

  

Total

         624,567,545  
     

 

 

  
 

 

2        Columbia Overseas Value Fund | Third Quarter Report 2023

PORTFOLIO OF INVESTMENTS  (continued)

Columbia Overseas Value Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)

      

Issuer

    Shares      Value ($)  

Netherlands 10.8%

      

ASR Nederland NV

      1,350,759        62,274,781  

ING Groep NV

      4,848,334        68,114,179  

Koninklijke Ahold Delhaize NV

      1,888,715        54,696,259  

Shell PLC

      3,637,894        117,594,402  
     

 

 

  

Total

         302,679,621  
     

 

 

  

Norway 0.7%

      

Leroy Seafood Group ASA

      4,666,775        18,227,248  
     

 

 

  

Russian Federation —%

      

Lukoil PJSC(b),(c),(d),(e)

      106,132        —    
     

 

 

  

Singapore 2.2%

      

BW LPG Ltd.

      1,634,255        23,804,046  

Venture Corp., Ltd.

      3,899,800        36,531,121  
     

 

 

  

Total

         60,335,167  
     

 

 

  

South Africa 0.2%

      

Sibanye Stillwater Ltd., ADR

      1,289,969        5,753,262  
     

 

 

  

South Korea 0.7%

      

Hyundai Home Shopping Network Corp.

      81,938        2,724,023  

Youngone Corp.

      460,402        15,554,978  
     

 

 

  

Total

         18,279,001  
     

 

 

  

Spain 2.8%

      

Banco Santander SA

      17,149,782        71,089,829  

Endesa SA

      212,638        4,447,774  

Tecnicas Reunidas SA(a)

      412,242        4,000,542  
     

 

 

  

Total

         79,538,145  
     

 

 

  

Sweden 0.1%

      

Stillfront Group AB(a)

      3,403,824        3,783,323  
     

 

 

  

Switzerland 3.0%

      

Novartis AG, Registered Shares

      668,139        65,215,899  

UBS AG

      624,767        17,654,416  
     

 

 

  

Total

         82,870,315  
     

 

 

  

Taiwan 0.9%

      

Fubon Financial Holding Co., Ltd.

      12,784,921        26,348,322  
     

 

 

  

United Kingdom 12.8%

      

AstraZeneca PLC, ADR

      312,543        20,187,152  

BP PLC

      4,537,822        27,588,472  

British American Tobacco PLC

      2,046,788        65,128,818  

Common Stocks (continued)

      

Issuer

    Shares      Value ($)  

BT Group PLC

      21,575,818        33,537,297  

Crest Nicholson Holdings PLC

      1,556,491        3,645,060  

DCC PLC

      750,412        50,730,867  

Imperial Brands PLC

      1,245,706        29,123,266  

John Wood Group PLC(a)

      2,117,468        3,743,300  

Just Group PLC

      24,984,654        25,391,211  

Liberty Global Ltd.(a)

      1,611,288        27,134,090  

TP Icap Group PLC

      14,083,625        32,977,094  

Vodafone Group PLC

      42,560,903        38,269,430  
     

 

 

  

Total

         357,456,057  
     

 

 

  

United States 6.0%

      

Burford Capital Ltd.

      2,605,175        36,185,881  

Diversified Energy Co. PLC

      32,054,614        26,629,336  

Energy Fuels, Inc.(a)

      2,317,974        18,427,893  

Insmed, Inc.(a)

      194,448        4,865,089  

Jazz Pharmaceuticals PLC(a)

      315,156        37,260,894  

Livent Corp.(a)

      893,623        12,296,252  

Roche Holding AG, Genusschein Shares

      114,084        30,691,008  

Sage Therapeutics, Inc.(a)

      59,196        1,159,058  
     

 

 

  

Total

         167,515,411  
     

 

 

  

Total Common Stocks
(Cost $2,613,702,093)

         2,712,488,911  
     

 

 

  

Exchange-Traded Equity Funds 1.2%

 

     Shares      Value ($ )  

United States 1.2%

      

iShares MSCI EAFE Value ETF

      653,836        33,025,256  
     

 

 

  

Total Exchange-Traded Equity Funds
(Cost $31,765,684)

         33,025,256  
     

 

 

  

Money Market Funds 0.2%

      

Columbia Short-Term Cash Fund, 5.605%(f),(g)

      5,281,845        5,280,789  
     

 

 

  

Total Money Market Funds
(Cost $5,280,755)

         5,280,789  
     

 

 

  

Total Investments in Securities
(Cost $2,650,748,532)

         2,750,794,956  
     

 

 

  

Other Assets & Liabilities, Net

         40,109,090  
     

 

 

  

Net Assets

       $ 2,790,904,046  
     

 

 

  
 

 

Columbia Overseas Value Fund | Third Quarter Report 2023        3

PORTFOLIO OF INVESTMENTS  (continued)

Columbia Overseas Value Fund, November 30, 2023 (Unaudited)

 

At November 30, 2023, securities and/or cash totaling $1,820,000 were pledged as collateral.

Investments in derivatives

Forward foreign currency exchange contracts

 

Currency to
be sold		     Currency to
be purchased		    

Counterparty

    Settlement
date		      Unrealized
appreciation ($)		      Unrealized
depreciation ($)		  
  4,384,000  GBP      5,433,835  USD    Barclays      12/14/2023        —          (101,301 ) 
  44,749,567  USD      312,974,000  DKK    Barclays      12/14/2023        975,588        —    
  8,166,139  USD      7,522,000  EUR    Barclays      12/14/2023        25,520        —    
  70,875,582  USD      58,031,000  GBP    Barclays      12/14/2023        2,393,005        —    
  8,373,000  AUD      5,427,657  USD    Citi      12/14/2023        —          (106,728 ) 
  15,789,798  USD      14,804,000  EUR    Citi      12/14/2023        332,152        —    
  44,899,291  USD      75,912,000  NZD    Citi      12/14/2023        1,849,849        —    
  24,680,104,000  KRW      18,605,431  USD    Goldman Sachs International      12/14/2023        —          (484,186 ) 
  1,602,957,000  TWD      49,850,941  USD    Goldman Sachs International      12/14/2023        —          (1,481,755 ) 
  133,566,000  ILS      35,372,352  USD    HSBC      12/14/2023        —          (443,120 ) 
  6,259,628,000  JPY      41,941,880  USD    HSBC      12/14/2023        —          (350,702 ) 
  23,552,537  USD      21,208,000  CHF    HSBC      12/14/2023        695,224        —    
  42,363,489  USD      57,461,000  SGD    HSBC      12/14/2023        612,808        —    
  59,487,000  NOK      5,527,948  USD    Morgan Stanley      12/14/2023        28,308        —    
  29,908,563  USD      324,315,000  NOK    Morgan Stanley      12/14/2023        74,728        —    
  34,119,482  USD      378,889,000  SEK    Morgan Stanley      12/14/2023        1,971,852        —    
  4,354,000  GBP      5,349,086  USD    State Street      12/14/2023        —          (148,173 ) 
  822,115,000  JPY      5,509,523  USD    State Street      12/14/2023        —          (45,019 ) 
  86,705,000  CAD      62,892,101  USD    UBS      12/14/2023        —          (1,016,338 ) 
  437,603,000  NOK      39,275,833  USD    UBS      12/14/2023        —          (1,181,063 ) 
  57,617,000  SEK      5,443,495  USD    UBS      12/14/2023        —          (44,852 ) 
  131,956,276  USD      204,304,000  AUD    UBS      12/14/2023        3,084,582        —    
         

 

 

     

 

 

  
  Total               12,043,616        (5,403,237 ) 
         

 

 

     

 

 

  

Notes to Portfolio of Investments

 

(a)

Non-income producing investment.

(b)

Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At November 30, 2023, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets.

(c)

Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund’s Board of Trustees. At November 30, 2023, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows:

 

Security

    Acquisition
Dates		      Shares      Cost ($)      Value ($)  

Lukoil PJSC

      01/25/2022-01/26/2022        106,132        8,693,218        —    

 

(d)

As a result of sanctions and restricted cross-border payments, certain income and/or principal has not been recognized by the Fund. The Fund will continue to monitor the net realizable value and record the income when it is considered collectible.

(e)

Valuation based on significant unobservable inputs.

(f)

The rate shown is the seven-day current annualized yield at November 30, 2023.

 

4        Columbia Overseas Value Fund | Third Quarter Report 2023

PORTFOLIO OF INVESTMENTS  (continued)

Columbia Overseas Value Fund, November 30, 2023 (Unaudited)

 

Notes to Portfolio of Investments (continued)

 

(g)

As defined in the Investment Company Act of 1940, as amended, 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 November 30, 2023 are as follows:

 

Affiliated issuers

    Beginning
of period($)		      Purchases($)      Sales($)     Net change in
unrealized
appreciation
(depreciation)($)		     End of
period($)		      Realized gain
(loss)($)		      Dividends($)      End of
period shares		  

Columbia Short-Term Cash Fund, 5.605%

      4,590,534        452,569,257        (451,878,841 )      (161 )      5,280,789        3,893        599,837        5,281,845  

Abbreviation Legend

 

ADR    American Depositary Receipt
Currency Legend
AUD    Australian Dollar
CAD    Canada Dollar
CHF    Swiss Franc
DKK    Danish Krone
EUR    Euro
GBP    British Pound
ILS    Israeli Shekel
JPY    Japanese Yen
KRW    South Korean Won
NOK    Norwegian Krone
NZD    New Zealand Dollar
SEK    Swedish Krona
SGD    Singapore Dollar
TWD    New Taiwan Dollar
USD    US Dollar

Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

 

Columbia Overseas Value Fund | Third Quarter Report 2023        5

 

You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.

3QT208_02_P01_(01/24)