Q3 2013

Columbia Acorn Family of Funds

Class A, B, C, I, R, R4, R5, Y and Z Shares

Managed by Columbia Wanger Asset Management, LLC

Third Quarter Report

September 30, 2013

n Columbia
Acorn® Fund

n Columbia
Acorn International®

n Columbia
Acorn USA®

n Columbia
Acorn International Select^SM

n Columbia
Acorn Select^SM

n Columbia
Thermostat Fund^SM

n Columbia
Acorn Emerging Markets Fund^SM

n Columbia
Acorn European Fund^SM

Not FDIC insured • No bank guarantee • May lose value

Columbia Acorn Family of Funds

Net Asset Value Per Share as of 9/30/13

	Columbia Acorn Fund		Columbia Acorn International		Columbia Acorn USA		Columbia Acorn International Select		Columbia Acorn Select		Columbia Thermostat Fund		Columbia Acorn Emerging Markets Fund		Columbia Acorn European Fund
Class A	$	35.27	$	46.42	$	34.93	$	28.19	$	28.63	$	15.29	$	12.57	$	14.13
Class B	$	32.03	$	44.88	$	31.75	$	26.69	$	26.16	$	15.33		NA		NA
Class C	$	31.47	$	44.68	$	31.40	$	26.53	$	25.83	$	15.30	$	12.47	$	14.01
Class I	$	36.72	$	46.62	$	36.61	$	28.53	$	29.73		NA	$	12.63	$	14.15
Class R		NA	$	46.29		NA		NA		NA		NA		NA		NA
Class R4	$	37.21	$	46.85	$	37.14	$	28.67	$	30.09	$	15.20	$	12.70		NA
Class R5	$	37.22	$	46.56	$	37.13	$	28.67	$	30.09	$	15.21	$	12.70	$	14.27
Class Y	$	37.25	$	46.89	$	37.18	$	28.67	$	30.15	$	15.21	$	12.59		NA
Class Z	$	36.68	$	46.58	$	36.54	$	28.52	$	29.66	$	15.14	$	12.61	$	14.16

The views expressed in the "Chattering Squirrels" and "In a Nutshell" commentaries reflect the current views of the respective authors. These views are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict so actual outcomes and results may differ significantly from the views expressed. These views are subject to change at any time based upon economic, market or other conditions and the respective authors disclaim any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions for a Columbia Acorn Fund are based on numerous factors, may not be relied upon as an indication of trading intent on behalf of any particular Columbia Acorn Fund. References to specific company's securities should not be construed as a recommendation or investment advice and there can be no assurance that as of the date of publication of this report, the securities mentioned in each Fund's portfolio are still held or that the securities sold have not been repurchased.

Acorn®, Acorn USA® and Acorn International® are service marks owned and registered by Columbia Acorn Trust.

Robert Mohn Named Lead Manager of Columbia Acorn Fund, effective April 1, 2014

Co-managers appointed to several Columbia Acorn funds, effective January 1, 2014

Zachary Egan to become President of Columbia Wanger Asset Management, effective April 1, 2014

After 35 years with Columbia Acorn Fund, first as an analyst, then as co-manager and, since 2003, as lead manager, I have decided to step down as lead portfolio manager and reduce my responsibilities with its adviser effective March 31, 2014. I am pleased to announce that effective April 1, 2014, Columbia Acorn Fund co-portfolio manager Robert Mohn will take over as lead manager. Rob is an outstanding portfolio manager who has served Columbia Acorn Fund for 21 years, first as an analyst and, since 2003, as co-portfolio manager. Since 1996, Rob has also been the lead manager of Columbia Acorn USA, which has outperformed its primary benchmark, the Russell 2000 Index, for the 5- and 10-year periods and for the life of the Fund.ⁱ Rob also currently serves as Director of Domestic Research at Columbia Wanger Asset Management (CWAM), the Funds' investment manager.

Effective January 1, 2014, David Frank will become co-portfolio manager of Columbia Acorn Fund. Dave joined CWAM as an analyst in 2002, after nine years of experience in the financial industry. As an analyst, Dave has focused on financial stocks, some transportation stocks and special situations. His stock picks have substantially outperformed his assigned industry benchmarks. Dave has also been successful as co-portfolio manager of a variable annuity account managed by CWAM.

Columbia Acorn Fund's philosophy, style and process will not change. The Fund will continue to benefit from its strong team of analysts working under close supervision of the portfolio managers.

I will continue to serve as lead portfolio manager of Columbia Thermostat Fund and Christopher Olson will become co-portfolio manager of the Fund effective January 1, 2014. Chris brings substantial focus on economic conditions and asset class valuations. He will continue managing Columbia Acorn International Select, a position he has held since 2001.

Also effective January 1, 2014, William Doyle will become co-portfolio manager of Columbia Acorn USA. Bill has been CWAM's energy analyst since 2006 and his stock ideas have benefited shareholders in both domestic and international Columbia Acorn funds.

On March 31, 2014, I will also be stepping down as President and Chief Investment Officer of CWAM. Zachary Egan, currently the Director of International Research and co-portfolio manager of Columbia Acorn International and Columbia Acorn Emerging Markets Fund, will become President of CWAM and International Chief Investment Officer. He will maintain his current portfolio management positions. Rob Mohn will become Domestic Chief Investment Officer.

After March 31, 2014, in addition to continuing in my role as lead portfolio manager of Columbia Thermostat Fund, I will follow certain stocks for the Columbia Acorn funds, fulfill some committee responsibilities at CWAM and will make myself available to consult with and advise CWAM portfolio managers and analysts. I will also continue to write "Squirrel Chatter II" columns for the Funds' shareholder reports, which seem to have delighted many shareholders and outraged very few.

CWAM's parent organizations, Columbia Management Investment Advisers and Ameriprise Financial, fully support these changes, as well as CWAM's investment philosophy, style and process. CWAM continues to invest autonomously as a separately registered investment manager based in Chicago, Illinois.

I am happy to have made the Columbia Acorn funds my life's work, and I am proud to have built on the legacy of Columbia Acorn's founder, Ralph Wanger, upholding CWAM as a nationally recognized leader in small- and mid-cap management. I have confidence in our bottom-up, analyst-driven investment process and in the investment team's ability to continue this legacy. I have substantial personal assets invested in the Columbia Acorn funds and I expect to keep large holdings in the Funds. I believe that my fellow shareholders should also have confidence in the enormous investment talent found at CWAM.

Charles P. McQuaid

President and Chief Investment Officer
Columbia Wanger Asset Management, LLC

ⁱ Based on Class Z shares. See Page 3 of this report for full performance details.

Columbia Acorn Family of Funds

Table of Contents

Descriptions of Indexes					1
Share Class Performance					2
Fund Performance vs. Benchmarks					3
Chattering Squirrels: 2013 Shareholder Information Meeting Recap					4
Columbia Acorn Fund
In a Nutshell					10
At a Glance					11
Major Portfolio Changes					26
Statement of Investments					28
Columbia Acorn International
In a Nutshell					12
At a Glance					13
Major Portfolio Changes					40
Statement of Investments					43
Portfolio Diversification					53
Columbia Acorn USA
In a Nutshell					14
At a Glance					15
Major Portfolio Changes					54
Statement of Investments					55
Columbia Acorn International Select
In a Nutshell					16
At a Glance					17
Major Portfolio Changes					62
Statement of Investments					63
Portfolio Diversification					68

Columbia Acorn Select
In a Nutshell					18
At a Glance					19
Major Portfolio Changes					69
Statement of Investments					70
Columbia Thermostat Fund
In a Nutshell					20
At a Glance					21
Statement of Investments					75
Columbia Acorn Emerging Markets Fund
In a Nutshell					22
At a Glance					23
Major Portfolio Changes					77
Statement of Investments					79
Portfolio Diversification					84
Columbia Acorn European Fund
In a Nutshell					24
At a Glance					25
Major Portfolio Changes					85
Statement of Investments					87
Portfolio Diversification					91
Columbia Acorn Family of Funds
Expense Information					92

Estimated Year-End Distributions

To help with your tax planning, following are the estimated year-end capital gain distributions for the Columbia Acorn Funds. With the exception of Columbia Thermostat Fund, the expected record date is December 10, 2013, and the ex-dividend and payable date is December 11, 2013. For Columbia Thermostat Fund, the expected record date is December 19, 2013, and the ex-dividend and payable date is December 20, 2013. Distribution information is not final and should not be considered final until after the record date. The board of trustees will determine the actual distributions the Funds will pay.

	Short-term Capital Gains		Long-term Capital Gains
Columbia Acorn Fund		None	$	1.95 - $2.20
Columbia Acorn International		None	$	2.20 - $2.45
Columbia Acorn USA		None	$	2.55 - $2.80
Columbia Acorn International Select		None	$	1.70 - $1.95
Columbia Acorn Select	$	0.05 - $0.10	$	4.75 - $5.00
Columbia Thermostat Fund	$	0.05 - $0.15	$	0.50 - $0.75
Columbia Acorn Emerging Markets Fund		None		None
Columbia Acorn European Fund		None	$	0.03 - $0.08

Columbia Acorn Family of Funds

Descriptions of Indexes Included in this Report

• 50/50 Blended Benchmark, established by the Fund's investment manager, is an equally weighted custom composite of Columbia Thermostat Fund's primary equity and primary debt benchmarks, the S&P 500 Index and the Barclays U.S. Aggregate Bond Index, respectively. The percentage of the Fund's assets allocated to underlying stock and bond portfolio funds will vary, and accordingly the composition of the Fund's portfolio will not always reflect the composition of the 50/50 Blended Benchmark.

• Barclays U.S. Aggregate Bond Index is a market value-weighted index that tracks the daily price, coupon, pay-downs and total return performance of fixed-rate, publicly placed, dollar-denominated and non-convertible investment grade debt issues with at least $250 million par amount outstanding and with at least one year to final maturity.

• HSBC Smaller European Companies (inc UK) Index is a weighted combination of two indexes: the HSBC Smaller Europe (ex UK) Index and the HSBC Smaller UK Index. The index is rebalanced on a quarterly basis.

• Lipper Indexes include the largest funds tracked by Lipper, Inc. in the named category. Lipper Mid-Cap Growth Funds Index, 30 largest mid-cap growth funds, including Columbia Acorn Fund; Lipper International Small/Mid Growth Funds Index, 10 largest non-U.S. small/mid growth funds, including Columbia Acorn International; Lipper Small-Cap Growth Funds Index, 30 largest small-cap growth funds, including Columbia Acorn USA; Lipper Mid-Cap Core Funds Index, 30 largest mid-cap core funds; Lipper Flexible Portfolio Funds Index, an equal-weighted index of the 30 largest mutual funds within the Flexible Portfolio fund classification, as defined by Lipper. Lipper Emerging Markets Index, 30 largest emerging markets funds; Lipper European Region Index, 10 largest European funds.

• MSCI Europe, Australasia, Far East (EAFE) Index (Net) is a capitalization-weighted index that tracks the total return of common stocks in 22 developed-market countries within Europe, Australasia and the Far East. The returns of the MSCI EAFE Index (Net) are presented net of the withholding tax rate applicable to foreign non-resident institutional investors in the foreign companies included in the index who do not benefit from double taxation treaties.

• MSCI Emerging Markets Small Cap Index, a widely recognized international benchmark, is a free float-adjusted market capitalization index that is designed to measure small-cap emerging market equity performance. The MSCI Emerging Markets Small Cap Index currently consists of the following 23 emerging market country indexes: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.

• Russell 2000 Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which represents approximately 10% of the total market capitalization of the Russell 3000 Index.

• Russell 2500 Index measures the performance of the 2,500 smallest companies in the Russell 3000 Index, which represents approximately 17% of the total market capitalization of the Russell 3000 Index.

• Standard & Poor's (S&P) 500 Index tracks the performance of 500 widely held, large-capitalization U.S. stocks.

• Standard & Poor's (S&P) MidCap 400 Index is a market value-weighted index that tracks the performance of 400 mid-cap U.S. companies.

• S&P Developed Ex-U.S. Between $2B and $10B Index is a subset of the broad market selected by the index sponsor representing the mid-cap developed market, excluding the United States.

• S&P Emerging Markets Between $500M and $5B Index represents the institutionally investable capital of emerging market countries with market caps ranging between $500 million to $5 billion, as selected by S&P. The index currently consists of the following 20 emerging market country indexes: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey.

• S&P Europe Between $500M and $5B Index represents the institutionally investable capital of European countries with market caps ranging between $500 million to $5 billion, as selected by S&P. The index currently consists of the following 17 developed market country indexes: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.

• S&P Global Ex-U.S. SmallCap Index consists of the bottom 20% of institutionally investable capital of developed and emerging countries, excluding the United States.

• S&P Global Ex-U.S. Between $500M and $5B Index is a subset of the broad market selected by the index sponsor representing the mid- and small-cap developed and emerging markets, excluding the United States.

Unlike mutual funds, indexes are not managed and do not incur fees or expenses. It is not possible to invest directly in an index.

Columbia Acorn Funds

Share Class Performance Average Annual Total Returns through 9/30/13

	Class A						Class B						Class C
	Without Sales Charge			With Sales Charge			Without Sales Charge			With Sales Charge			Without Sales Charge			With Sales Charge
Columbia Acorn Fund
Year to date*		21.73	%		14.73	%		21.09	%		16.09	%		21.08	%		20.08	%
1 year		25.28	%		18.09	%		24.50	%		19.50	%		24.40	%		23.40	%
5 years		12.24	%		10.92	%		11.58	%		11.32	%		11.39	%		11.39	%
10 years		10.81	%		10.15	%		10.12	%		10.12	%		9.96	%		9.96	%
Columbia Acorn International
Year to date*		15.05	%		8.43	%		14.42	%		9.42	%		14.40	%		13.40	%
1 year		19.82	%		12.93	%		18.96	%		13.96	%		18.91	%		17.91	%
5 years		11.27	%		9.96	%		10.52	%		10.25	%		10.41	%		10.41	%
10 years		13.03	%		12.36	%		12.28	%		12.28	%		12.17	%		12.17	%
Columbia Acorn USA
Year to date*		24.00	%		16.87	%		23.21	%		18.21	%		23.38	%		22.38	%
1 year		27.86	%		20.50	%		26.85	%		21.85	%		26.98	%		25.98	%
5 years		11.71	%		10.39	%		10.98	%		10.71	%		10.88	%		10.88	%
10 years		9.61	%		8.96	%		8.89	%		8.89	%		8.79	%		8.79	%
Columbia Acorn International Select
Year to date*		12.34	%		5.89	%		11.75	%		6.75	%		11.65	%		10.65	%
1 year		10.58	%		4.22	%		9.83	%		5.16	%		9.70	%		8.77	%
5 years		9.20	%		7.91	%		8.50	%		8.21	%		8.33	%		8.33	%
10 years		12.07	%		11.41	%		11.34	%		11.34	%		11.19	%		11.19	%
Columbia Acorn Select
Year to date*		22.09	%		15.06	%		21.45	%		16.45	%		21.44	%		20.44	%
1 year		24.52	%		17.36	%		23.65	%		18.65	%		23.56	%		22.56	%
5 years		11.00	%		9.70	%		10.29	%		10.01	%		10.13	%		10.13	%
10 years		8.11	%		7.48	%		7.40	%		7.40	%		7.27	%		7.27	%
Columbia Thermostat Fund
Year to date*		7.06	%		0.92	%		6.60	%		1.60	%		6.39	%		5.39	%
1 year		8.64	%		2.41	%		8.02	%		3.02	%		7.78	%		6.78	%
5 years		9.67	%		8.38	%		9.10	%		8.81	%		8.84	%		8.84	%
10 years		7.19	%		6.55	%		6.61	%		6.61	%		6.39	%		6.39	%
Columbia Acorn Emerging Markets Fund
Year to date*		4.40	%		-1.57	%		NA			NA			3.83	%		2.83	%
1 year		13.67	%		7.12	%		NA			NA			12.85	%		11.85	%
Life of Fund		11.75	%		8.66	%		NA			NA			10.99	%		10.99	%
Columbia Acorn European Fund
Year to date*		20.15	%		13.22	%		NA			NA			19.44	%		18.44	%
1 year		26.15	%		18.86	%		NA			NA			25.09	%		24.09	%
Life of Fund		18.50	%		15.23	%		NA			NA			17.62	%		17.62	%

	Class I			Class R			Class R4			Class R5			Class Y			Class Z

Columbia Acorn Fund
Year to date*		22.05	%		NA			21.97	%		22.05	%		22.08	%		21.99	%
1 year		25.75	%		NA			25.64	%		25.74	%		25.78	%		25.66	%
5 years		12.63	%		NA			12.57	%		12.59	%		12.60	%		12.58	%
10 years		11.17	%		NA			11.14	%		11.15	%		11.16	%		11.15	%
Columbia Acorn International
Year to date*		15.35	%		14.73	%		15.29	%		15.34	%		15.39	%		15.31	%
1 year		20.25	%		19.38	%		20.14	%		20.21	%		20.25	%		20.18	%
5 years		11.71	%		10.95	%		11.65	%		11.66	%		11.67	%		11.66	%
10 years		13.45	%		12.72	%		13.43	%		13.43	%		13.44	%		13.43	%
Columbia Acorn USA
Year to date*		24.40	%		NA			24.30	%		24.35	%		24.39	%		24.24	%
1 year		28.35	%		NA			28.22	%		28.27	%		28.32	%		28.18	%
5 years		12.09	%		NA			12.03	%		12.04	%		12.04	%		12.02	%
10 years		9.97	%		NA			9.94	%		9.95	%		9.95	%		9.94	%
Columbia Acorn International Select
Year to date*		12.61	%		NA			12.54	%		12.59	%		12.59	%		12.53	%
1 year		10.94	%		NA			10.83	%		10.88	%		10.89	%		10.85	%
5 years		9.63	%		NA			9.58	%		9.59	%		9.59	%		9.58	%
10 years		12.45	%		NA			12.42	%		12.43	%		12.43	%		12.42	%
Columbia Acorn Select
Year to date*		22.45	%		NA			22.34	%		22.38	%		22.45	%		22.37	%
1 year		24.99	%		NA			24.80	%		24.88	%		24.94	%		24.87	%
5 years		11.40	%		NA			11.32	%		11.33	%		11.34	%		11.33	%
10 years		8.47	%		NA			8.43	%		8.44	%		8.44	%		8.44	%
Columbia Thermostat Fund
Year to date*		NA			NA			7.18	%		7.25	%		7.33	%		7.21	%
1 year		NA			NA			8.80	%		8.85	%		8.91	%		8.85	%
5 years		NA			NA			9.92	%		9.93	%		9.94	%		9.93	%
10 years		NA			NA			7.46	%		7.46	%		7.47	%		7.46	%
Columbia Acorn Emerging Markets Fund
Year to date*		4.55	%		NA			4.61	%		4.61	%		4.56	%		4.47	%
1 year		14.08	%		NA			14.08	%		14.15	%		14.06	%		13.96	%
Life of Fund		12.20	%		NA			12.15	%		12.18	%		12.14	%		12.09	%
Columbia Acorn European Fund
Year to date*		20.43	%		NA			NA			20.32	%		NA			20.41	%
1 year		26.46	%		NA			NA			26.44	%		NA			26.53	%
Life of Fund		18.83	%		NA			NA			18.78	%		NA			18.82	%

Returns for Class A shares are shown with and without the maximum initial sales charge of 5.75%. Returns for Class B shares are shown with and without the applicable contingent deferred sales charge (CDSC) of 5.00% in the first year, declining to 1.00% in the sixth year and eliminated thereafter. Returns for Class C shares are shown with and without the maximum CDSC of 1.00% for the first year after purchase. The Funds' other classes are not subject to sales charges and have limited eligibility. Please see the Funds' prospectuses for details. Performance for different share classes will vary based on differences in sales charges and certain fees associated with each class.

All results shown assume reinvestment of distributions during the period. Returns do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on the redemption of Fund shares. Performance results may reflect the effect of any fee waivers or reimbursements of Fund expenses by the investment manager and/or any of its affiliates. Absent these fee waivers and/or expense reimbursement arrangements, performance results would have been lower. Please see Page 92 of this report for information on contractual fee waiver and expense reimbursement agreements in place for Columbia Acorn International, Columbia Thermostat Fund, Columbia Acorn Emerging Markets Fund and Columbia Acorn European Fund and voluntary fee waiver and expense reimbursement arrangements in place for Columbia Acorn Select and Columbia Acorn International Select as of September 30, 2013.

The performance information shown represents past performance and is not a guarantee of future results. The investment return and principal value of your investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data shown. You may obtain performance information current to the most recent month-end by contacting your financial intermediary, visiting columbiamanagement.com or calling 800.922.6769.

The returns shown include the returns of each Fund's Class Z shares, each Fund's oldest share class, in cases where the inception date of the Fund is earlier than the inception date of the particular share class or where a period shown dates to before the inception date of the share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiamanagement.com/mutual-funds/appended-performance for more information.

Continued on Page 3.

Fund Performance vs. Benchmarks Class Z Average Annual Total Returns through 9/30/13

Class Z Shares	3rd quarter*			Year to date*			1 year			5 years			10 years			Life of Fund
Columbia Acorn Fund (ACRNX) (6/10/70)		10.38	%		21.99	%		25.66	%		12.58	%		11.15	%		14.83	%
Russell 2500 Index		9.08	%		25.89	%		29.79	%		12.68	%		10.38	%		NA
S&P 500 Index**		5.24	%		19.79	%		19.34	%		10.02	%		7.57	%		10.83	%
Russell 2000 Index		10.21	%		27.69	%		30.06	%		11.15	%		9.64	%		NA
Lipper Mid-Cap Growth Funds Index		10.12	%		25.83	%		26.84	%		12.30	%		9.74	%		NA
Columbia Acorn International (ACINX) (9/23/92)		8.93	%		15.31	%		20.18	%		11.66	%		13.43	%		11.48	%
S&P Global Ex-U.S. Between $500M and $5B Index		10.07	%		12.22	%		18.57	%		10.58	%		11.79	%		8.71	%
S&P Global Ex-U.S. SmallCap Index		12.36	%		14.76	%		21.43	%		10.62	%		11.49	%		8.14	%
MSCI EAFE Index (Net)		11.56	%		16.14	%		23.77	%		6.35	%		8.01	%		6.31	%
Lipper International Small/Mid Growth Funds Index		11.64	%		19.58	%		25.79	%		12.18	%		12.17	%		NA
Columbia Acorn USA (AUSAX) (9/4/96)		11.47	%		24.24	%		28.18	%		12.02	%		9.94	%		10.99	%
Russell 2000 Index		10.21	%		27.69	%		30.06	%		11.15	%		9.64	%		8.52	%
Lipper Small-Cap Growth Funds Index		12.86	%		30.76	%		30.91	%		13.15	%		8.70	%		7.19	%
Columbia Acorn Int'l Select (ACFFX) (11/23/98)		10.50	%		12.53	%		10.85	%		9.58	%		12.42	%		9.94	%
S&P Developed Ex-U.S. Between $2B and $10B Index		11.75	%		16.55	%		22.78	%		9.07	%		10.03	%		7.90	%
MSCI EAFE Index (Net)		11.56	%		16.14	%		23.77	%		6.35	%		8.01	%		4.48	%
Lipper International Small/Mid Growth Funds Index		11.64	%		19.58	%		25.79	%		12.18	%		12.17	%		10.90	%
Columbia Acorn Select (ACTWX) (11/23/98)		9.08	%		22.37	%		24.87	%		11.33	%		8.44	%		10.33	%
S&P MidCap 400 Index		7.54	%		23.23	%		27.68	%		13.08	%		10.84	%		10.26	%
S&P 500 Index**		5.24	%		19.79	%		19.34	%		10.02	%		7.57	%		4.42	%
Lipper Mid-Cap Core Funds Index		8.38	%		24.25	%		28.32	%		11.79	%		9.57	%		8.88	%
Columbia Thermostat Fund (COTZX) (9/25/02)		2.92	%		7.21	%		8.85	%		9.93	%		7.46	%		8.21	%
S&P 500 Index		5.24	%		19.79	%		19.34	%		10.02	%		7.57	%		8.94	%
Barclays U.S. Aggregate Bond Index		0.57	%		-1.89	%		-1.68	%		5.41	%		4.59	%		4.68	%
Lipper Flexible Portfolio Funds Index		5.59	%		9.66	%		11.35	%		8.21	%		7.02	%		8.06	%
50/50 Blended Benchmark		2.92	%		8.54	%		8.46	%		8.14	%		6.37	%		7.10	%
Columbia Acorn Emerging Markets Fund (CEFZX) (8/19/11)		4.91	%		4.47	%		13.96	%		—			—			12.09	%
S&P Emerging Markets Between $500M and $5B Index		2.89	%		-1.99	%		4.94	%		—			—			3.08	%
MSCI Emering Markets Small Cap Index		3.49	%		-0.21	%		4.88	%		—			—			0.78	%
Lipper Emerging Markets Index		5.39	%		-3.04	%		3.07	%		—			—			3.93	%
Columbia Acorn European Fund (CAEZX) (8/19/11)		12.03	%		20.41	%		26.53	%		—			—			18.82	%
S&P Europe Between $500M and $5B Index		16.73	%		24.28	%		34.23	%		—			—			20.31	%
HSBC Smaller European Companies Index		17.77	%		25.27	%		35.96	%		—			—			18.27	%
Lipper European Region Index		13.12	%		19.11	%		27.64	%		—			—			18.63	%

The inception dates for Class A, B and C shares (if offered) are as follows: Columbia Acorn Fund, Columbia Acorn International, Columbia Acorn USA, Columbia Acorn International Select and Columbia Acorn Select, 10/16/00; Columbia Thermostat Fund, 3/3/03; Columbia Acorn Emerging Markets Fund and Columbia Acorn European Fund, 8/19/11. The inception dates for Class I shares are as follows: Columbia Acorn Fund, Columbia Acorn International, Columbia Acorn USA, Columbia Acorn International Select and Columbia Acorn Select, 9/27/10; Columbia Acorn Emerging Markets Fund and Columbia Acorn European Fund, 8/19/11. The inception date for Class R shares for Columbia Acorn International is 8/15/11. The inception date for Class R4, R5 and Y shares (if offered) is as follows: Columbia Acorn Fund, Columbia Acorn USA, Columbia Acorn International Select, Columbia Acorn Select, Columbia Thermostat Fund, Columbia Acorn Emerging Markets Fund and Columbia Acorn European Fund, 11/8/12, except that Class Y shares of Columbia Acorn Emerging Markets Fund commenced operations on 6/13/13. The inception date for Class R5 shares of Columbia Acorn International is 8/15/11. The inception date for Class R4 and Y shares of Columbia Acorn International is 11/8/12. The inception date for Class Z shares is as follows: Columbia Acorn Fund, 6/10/70; Columbia Acorn International, 9/23/92; Columbia Acorn USA, 9/4/96; Columbia Acorn International Select and Columbia Acorn Select, 11/23/98; Columbia Thermostat Fund, 9/25/02; Columbia Acorn Emerging Markets Fund and Columbia Acorn European Fund, 8/19/11.

*Not annualized

**Although the Fund typically invests in small- and mid-sized companies, the comparison to the S&P 500 Index is presented to show performance against a widely recognized market index over the life of the Fund.

Please see Page 1 for a description of the indexes listed above.

Chattering Squirrels: 2013 Shareholder Information Meeting Recap

On September 18, 2013, we held our annual Shareholder Information Meeting in Chicago. Following are highlights from your portfolio managers' presentations. While they did not present at this year's meeting, the portfolio managers of Columbia Acorn International Select and Columbia Acorn Emerging Markets Fund have provided comments to include in this recap. Data used in the presentations has been updated through September 30, 2013.

Charles P. McQuaid, President, Chief Investment Officer and Lead Portfolio Manager, Columbia Acorn Fund and Columbia Thermostat Fund

We've had a very slow economic recovery in the United States. Unemployment remains high, despite being four years into an economic recovery. At last report, there were 1.9 million fewer jobs in the United States than at the prior peak in 2008. Economic growth is mixed elsewhere, with China's growth slowing and other countries showing varying results. Interest rates have also been rising.

Columbia Acorn Fund Class Z shares rose 25.66% for the 12-month period ended September 30, 2013, an amazing number given economic conditions. But it is also disappointing because the Fund's primary benchmark, the Russell 2500 Index, was up 29.79%.

Our international stock holdings hurt performance over the past year. We've made some mistakes in foreign stock selection but most of the foreign companies we hold continue to do well fundamentally. However, most international stock markets underperformed the U.S. market.

Our investment style is growth at a reasonable price (GARP) and it has proven successful in the long run. During shorter periods of time, however, the GARP style can fall out of style. Within Russell 2500 Index price-to-earnings (PE) ratio quintiles, the second quintile, which includes GARP-style stocks, underperformed during the past year. The lowest PE quintiles, consisting of value stocks and the non-earners (turnarounds and concept stocks), significantly outperformed.

Looking at the Fund's top positions, Mettler-Toledo, a maker of scales and other instruments for laboratory, industrial and retail uses, continues to do well despite economic conditions and having 70% of sales overseas. Sales have been growing slightly due to market share gains and new

products, and profit margins are up on improved pricing and manufacturing efficiencies. The company generates lots of free cash flow and has bought back about one-third of its shares in the last 10 years.

Communications tower companies Crown Castle International and SBA Communications rent space on towers for antennas placed by AT&T, Verizon and others. We've had a "downstream from technology" theme for many years, and these companies benefit when more wireless devices use more data, increasing the need for more antennas. Meanwhile, zoning tends to limit competition. Currently, all major customers are building new generation networks and adding antennas on towers.

New to the top-10 list this year was Bally Technologies. Bally makes and operates gaming equipment. We've owned gaming equipment companies for many years as part of our "downstream from technology" theme. Bally stock has performed well on fine earnings growth and its announced acquisition of ShuffleMaster, a former Columbia Acorn Fund holding.

We often trim top holdings in the Fund in order to raise cash for new ideas or to meet redemptions. Also, over time, we tend to recycle dollars from large, successful holdings into smaller caps. For these reasons, we have trimmed some of the Fund's larger positions.

Our primary biotechnology theme has changed from "orphan drugs" to "breakthrough drugs." We've learned that, while some orphan drugs can be the only approved treatment of a disease, if they don't work that well there can be pricing pressure, especially from European governments. Seattle Genetics has a breakthrough technology known as "Antibody-Drug Conjugates" or ADCs. These drugs link an antibody with chemotherapy. Their drug Adcetris, launched in late 2011, achieved response rates near 100% in advanced lymphomas, which is indeed a breakthrough.

Turning to Columbia Thermostat Fund, the Fund has faithfully sold stock funds when the market rose and bought stock funds when the market has gone down. At the end of August, Columbia Thermostat Fund was down to 15% of assets in stock funds, selling stock funds in early August when the S&P 500 Index exceeded 1,700. The Fund

was then subject to the 31-day reversal rule (under which it cannot switch buying/selling direction in a 31-day period, as described in its prospectus) and could not buy them back until early September. On August 30, 2013, the S&P 500 Index closed at 1,633, which triggered a move in the Fund's stock position to 25% of assets when the trade posted on the next trading day, September 3. The Fund was then precluded from selling stocks through October 3. The reversal rule has prevented the Fund from buying or selling too early on several occasions.

Columbia Thermostat Fund is designed for a market stuck in a trading range. The big, unanswerable question is whether we are launching into a new secular bull market. Should that happen, given the current allocation table, Columbia Thermostat Fund would go to 90% bonds and stay there. If we have another cyclical bear market, the Fund would keep working to buy stock funds as they get cheaper and then sell if they get more expensive.

We do a complete review of Columbia Thermostat Fund at least yearly. During our review late last year, we were concerned about the possibility of rising interest rates, so we eliminated Columbia U.S. Treasury Index Fund, which had a 5.7-year duration, and trimmed Columbia Intermediate Bond Fund to 30% of the bond portfolio. We added Columbia Short Term Bond Fund and assigned it a 40% weight. All told, this took Columbia Thermostat Fund's bond duration down to about 3.3 years from 4.8 years, reducing exposure to rising interest rates.

Robert A. Mohn, Director of Domestic Research, Lead Portfolio Manager, Columbia Acorn USA and Co-Portfolio Manager, Columbia Acorn Fund

For the 12-month period ended September 30, 2013, Columbia Acorn USA Class Z shares returned 28.18%. That's a big number, but not as big as the 30.06% return of the Fund's primary benchmark, the small-cap Russell 2000 Index.

While we are largely pleased with our longer term results, it has been a challenge for our domestic Funds to beat their benchmarks recently. This problem is not unique to the Columbia Acorn funds. In general, actively managed U.S. mutual funds have struggled to match their benchmarks over the past three years. This is at least partially due to the recent popularity of index investing and the

explosion of interest in exchange-traded funds (ETFs). The force from assets flowing out of actively managed U.S. funds and into ETFs tends to suppress active managers' performance relative to their indexed benchmarks. Fund flows move in cycles and, at some point, we believe this trend is likely to reverse.

We also recently reviewed our domestic teams' investment process in an effort to refine it. Primarily, we discovered a need to increase the overall selectivity of the Funds. Our domestic team has grown over the years, expanding with the size of our assets under management. Back in 1998, we had eight analysts. Last year, that number burgeoned to 15. As the number of analysts increased, the size and scope of each analyst's coverage area decreased. These narrower assignments are not a problem if each analyst receives a sector rich in investment opportunities, but it gets tricky when an analyst is left following a sector without a sufficient number of attractive companies in which to invest. We have increased the breadth of some of our analysts' coverage areas to provide sectors rich in companies with superior business models. After some recent departures, we now have 12 domestic analysts, the fewest number we've had since 2002.

Investments in short-cycle sectors have also been a bit of an Achilles' heel for the Funds. As long-term investors, our analysts typically apply a three- to five-year time horizon when researching potential investments. Unfortunately, this long-term outlook puts us at a disadvantage when evaluating volatile industry sectors with short product and inventory cycles. For example, semiconductors have notoriously brief product cycles and industry uptrends usually last less than a year, which is far shorter than the time horizon we typically use. This mismatch can lead to sub-par results. Other fast-cycle areas include apparel retailing, which tends to be beset by short-term fashion fads. We have taken action throughout this past year to reduce the weight in our domestic Funds in short-cycle sectors. Our goal is to own a handful of what we consider to be the best short-cycle names.

The above actions should lead to a greater degree of selectivity in our domestic Funds. We believe these investment process refinements will drive future returns to levels that meet our high performance standards.

Robert A. Chalupnik, Lead Portfolio Manager, Columbia Acorn Select

For the 12-month period ended September 30, 2013, Columbia Acorn Select Class Z shares gained 24.87%, behind the 27.68% return of its primary benchmark, the S&P MidCap 400 Index. Although the absolute performance is strong, our job is to deliver performance above benchmark. I am encouraged, however, by recent trends. The Fund's year-to-date performance through September was just 0.86% shy of its benchmark. This is a nice improvement from year-to-date performance through April, when the Fund trailed by 3.8%.

At the end of September, the Fund's largest overweight versus its benchmark was in the industrial sector. I have followed industrial companies for 13 years. During this time, the manufacturing base in the United States, as a percent of the overall economy, has contracted. Although this trend continues, certain U.S. manufacturing is significantly more competitive today. This is due to cheaper natural gas, reasonable electricity rates and stable labor rates. Also, manufacturing in places like China comes with the additional risk of copycats; protection of intellectual property is limited. For these reasons, I believe some manufacturing will return to the United States.

Columbia Acorn Select's next largest overweight was in telecommunication services. Our "downstream from technology" theme has driven our investments in tower companies like SBA Communications. After a nice run in 2012, we reduced the Fund's weighting in this sector due to valuation.

Our largest underweights were in utilities and consumer discretionary stocks. We have not found many utilities with good growth prospects and reasonable valuations. While we continue to find investment opportunities in the consumer discretionary sector, the Fund's weighting in this area has been reduced by the sale of several larger retail positions.

Columbia Acorn Select is a concentrated fund, which means we invest in fewer stocks and the weight of each stock in the portfolio is larger relative to our other domestic Acorn products. As a percent of net assets, the top-10 holdings in the Fund account for 41.3% of the portfolio. Many of the stocks in the portfolio have been followed by a member of our analyst team for years and, in some cases, over a

decade. It is this longer-term focus that gives us the confidence to make larger investments in a stock.

For the year ended September 30, 2013, just two new names entered the Fund's top-10 list. Of the remaining eight names that we've held for a full year, six outperformed the Fund's benchmark for the year. This data indicates that we've done a good job picking larger, long-term positions for the Fund, but that we've lost ground due to the underperformance of smaller positions.

Among the Fund's top-10 holdings for the past year, WNS, an offshore business process outsourcing company, was the top contributor to Fund gains. WNS was up 106% for the year ended September 30, 2013, due to solid revenue growth, a growing pipeline of new business and PE multiple expansion.

The stock that increased the least in the top-10 holdings list was industrial air filtration company Donaldson, up 11% for the 12 months. Donaldson experienced weaker demand from its original equipment manufacturer customers as they reduced production rates and burned off inventory. Fortunately, Donaldson also sells replacement filters, which is a much more predictable and more profitable piece of its business that helps stabilize financial results.

P. Zachary Egan, Director of International Research, Co-Portfolio Manager, Columbia Acorn International and Columbia Acorn Emerging Markets Fund

Columbia Acorn International Class Z shares returned just over 20.18% in the one-year period ended September 30, 2013. This is 1.6% ahead of the Fund's primary benchmark, the S&P Global Ex-U.S. Between $500M and $5B Index, which rose 18.57% for the same period.

Most, but not all, markets posted positive U.S. dollar returns in the annual period through September 30, 2013, and, in the case of those that were down a lot, they were all emerging markets, such as India and Brazil. Weak currencies—not falling stock prices in local currencies—explain the losses in the Fund. There are a number of factors behind the currency movements, but the possibility of a normalizing U.S. economy is almost certainly one of them. Chasing investment returns in India or Brazil looks less necessary or attractive when you can generate

decent returns in the United States, which is perceived to involve less risk. Money follows this logic, and that has had a commensurate impact on the relative value of currencies.

Against this backdrop, it is not surprising that 10 of the 15 biggest losers in the Fund in the annual period were indeed emerging market stocks. It might be more surprising, however, that seven of the Fund's 15 biggest winners were also emerging markets stocks. Melco Crown Entertainment, for example, is a Macau casino operator that can alone explain almost all of the Fund's excess return versus its benchmark over the last 12 months.

This performance of Fund emerging market holdings highlights a couple things. First, emerging market stocks play a more important role in the Fund than they did 10 years ago. We had 23% of the Fund's assets in emerging markets at the end of September. Ten years ago, the weighting was below 10%. Second, owing to the volatile nature of these stocks and wide dispersion in their price movements, the ability to outperform may be higher than in developed market stocks. This doesn't mean that it is easier to outperform in these markets, only that the opportunity to generate a return substantially above, or below, an index may be higher. If this is the case, stock selection matters even more.

Andreas Waldburg-Wolfegg, Lead Portfolio Manager, Columbia Acorn European Fund

Two years ago, few people would have dared to bet that Europe was the place to put your money. But today European benchmarks, both large and small cap, are among the best performing in the world.

Among the top three benchmark performers for the year ended September 30, 2013, we find France, the country that not too long ago elected a socialist government, which seems to be hell-bent on making life difficult for entrepreneurs, corporations and individuals alike. And yet, most of the French names in Columbia Acorn European Fund's portfolio have had impressive gains with Eurofins Scientific leading the pack, up 54% year to date, followed by Neopost, up 41%.

In Spain, unemployment was at 26% as of the end of June, and one in two Spaniards under the age of 25 was out of work. GDP growth tanked to -4% in June of 2009 and was still at -1.7% at the end of June this year. Yet the news

out of Spain has been encouraging, with the banks now consolidated and their balance sheets cleaned, important labor market reforms pushed through and difficult topics, such as the decade-old tariff deficit among the utilities, being addressed. Challenges still remain but people are starting to pick through the rubble. In Spain, the Fund holds grocer Dia, which runs a chain of supermarkets akin to Aldi. Its stock was up 29% year to date through September.

The Fund has underperformed its primary benchmark, the S&P Europe Between $500M and $5B Index, since its August 2011 inception. Why? We missed some important restructuring stories and we took some time increasing our weighting in the United Kingdom following internal changes in our coverage. As of September 30, 2013, the UK accounted for 35% of the Fund's benchmark and, for the first nine months of the year, the Fund outperformed handily in the country and the weighting gap has been closing.

It's been said that when a management with a good reputation joins a business with a bad one, it is the business's reputation that is much more likely to survive than the management's. With this in mind, we usually stay away from restructuring situations. For example, Alcatel Lucent in France is a supplier of telecommunication equipment and services, which, according to data provided by Bloomberg, has not earned its cost of capital in 21 out of the last 25 years. Will the newest restructuring plan that sent the shares up 150% this year succeed? Maybe. Given the company's track record, however, we decided to follow this story from afar rather than getting involved.

The New York Times London correspondent recently observed that the United Kingdom spent the last 10 years reevaluating its position in the world. Guess what? So has every other country between the Atlantic and the Ural. This reevaluation affects social cohesion, labor productivity, innovation and entrepreneurship. However, it would be wrong to think that all innovation is stifled and all research is stalled. We look closely at the region and seek to unearth those companies that can produce innovation, sustainable competitive advantage and good returns. Looking at PE ratios, Europe's benchmark is much cheaper than the Russell 2500 Index. We believe this bears consideration when thinking about opportunities to invest outside the United States.

Christopher J. Olson, Lead Portfolio Manager, Columbia Acorn International Select

After a strong run and outperformance last year, Columbia Acorn International Select Class Z shares 10.85% return appreciably lagged the Fund's primary benchmark, the S&P Developed Ex-U.S. Between $2B and $10B Index, up 22.78% for the year ended September 30, 2013. Despite the past year's underperformance, the Fund continues to outperform its benchmark over the three-, five- and ten-year periods and since inception.

Given its more concentrated nature, the Fund has had a bias toward companies with less cyclical and more defensive/secular earnings growth, higher dividend yields, very strong balance sheets and business models that tend to be less volatile in nature. On various risk measures (such as standard deviation and beta) over the course of its life, the Fund has ranked among the lowest of its peers. In fact, over the past three-, five- and ten-year periods, Columbia Acorn International Select has had the lowest risk measures among its Lipper peers. As can be expected, while this has resulted in more consistent returns over time, the Fund's performance and holdings can vary quite a bit from its benchmark, particularly when markets become exuberant.

That was certainly the case over the past year when previous strong performers for the Fund, such as the Singapore real estate investment trusts (REITs) and the Taiwanese telecom companies, turned in flattish performances while many of the equity markets, particularly Japan and Europe, soared higher on the back of significant monetary and fiscal measures. During this period, the Fund has not been inactive and has shifted out of some of its more defensive holdings, subsequently reducing its weight in both REITs and telecom companies, as well as a few others, in order to gain exposure to other areas. In doing so, the Fund has not abandoned its emphasis on strong business models and steadier earnings streams, but has simply diversified such investments.

One area that has disappointed is the Fund's exposure to precious metals mining stocks. Commodities in general have been weak on the back of poorer than expected global economic growth but the precious metals sector has been particularly hard hit. The Fund has reduced its exposure but continues to hold several names that have

strong balance sheets, with what we believe to be promising exploration profiles and strong managements. Sentiment and valuations in the sector are at historical lows and, as long as the companies are performing operationally as expected, such stocks warrant a place in the portfolio.

Other than precious metals, it is increasingly difficult to find good value in the international equity markets after the strong run they have seen over the past four-plus years. Companies with good business models and visible earnings growth that are in favor among the analyst and investor community are trading at valuations not often seen. Whether this is due to the higher likelihood of stronger real economic growth to come or irrational exuberance remains to be seen. In either case, the Fund will continue to search for ideas that present attractive risk/return profiles and that can navigate either environment.

Fritz G. Kaegi and Stephen Kusmierczak, Lead Portfolio Managers, and P. Zachary Egan and Louis J. Mendes, Co-Portfolio Managers, Columbia Acorn Emerging Markets Fund

Columbia Acorn Emerging Markets Fund Class Z shares gained 13.96% for the one-year period ended September 30, 2013. This compares to a 4.94% return for the Fund's primary benchmark, the S&P Emerging Markets Between $500M and $5B Index.

There is something about investing that compels people to opine on the larger economy with broad generalizations. It's especially prevalent when it comes to emerging markets.

There is truth in the opining. Yes, most listed Chinese companies are state-owned and suffer from ruinous competition and poor governance. Yes, Russia is an oil-driven economy dominated by a handful of oligarchs. Yes, South Africa has big problems with crime, health, wealth disparities and unemployment. Corruption is a big problem in all of these countries. We know all this from the information we get each day. The natural human tendency is to apply this knowledge to each company from these countries. It's like a script; mention one of these countries to someone and you can practically hear the script load. Yet there are thousands of emerging market stocks from which to choose. For some of them, these observations are relevant. For others, not at all.

In Columbia Acorn Emerging Markets Fund, we think it's the exceptions, rather than the generalized truths, that make the difference. For example, we get excited when we see an entrepreneurial company that stands out, perhaps by dominating a growing niche despite difficult local conditions. We have owned Localiza Rent A Car, a car rental company in Brazil, for years because the company's innovative management has built competitive advantages amidst Brazil's high crime and interest rates. The usual, dire script does us a disservice if it makes us ignore a one-off situation.

Sometimes it's competitive advantages inherent in a business that make the generalizations less relevant. As in other Columbia Acorn funds, with Columbia Acorn Emerging Markets Fund we favor casinos, cell phone towers, fund managers, Internet companies benefiting from network effects, directly sold property insurance, paints, airports and ports, payment processors, exchanges, and niche industrials and retailers. These are attractive business models, usually enjoying some combination of pricing power, network effects and sustainable cost advantages. They are good businesses in developed economies and emerging market conditions can make these advantages stronger, with better opportunities for reinvestment at attractive returns.

Sometimes factors operating within an individual country make overarching emerging market themes less relevant. We like South Africa's Coronation Fund Managers for many reasons. Yet its key driver is the migration of South African investors toward independent financial advisors and mutual funds, and away from insurance- and bank-managed products sold by agents perceived to have a conflict of interest. So far, the power of this trend has overcome all of the true but less relevant scripts relating to South Africa.

Sometimes there is no theme. An example of this is Isagen, which owns hydro power stations in Colombia. The company has new hydro capacity coming online with better, less volatile hydrological attributes. The improved availability of capacity should translate into higher profits. When we tell people about this holding, we sometimes see them looking a little disappointed, trying to find a script or theme that relates. If it's a good, niche company like Isagen, who says there has to be a theme?

It is easy to slip into overarching generalizations. We're guilty of it too. They do help you allocate your time and priorities in a complicated world. And politics can

matter in emerging markets because very negative outcomes could affect every asset. Political fragility is a defining attribute of every emerging market. The press and brokers feed the flames, as generalizations are inherent to their jobs. If you're covering huge companies like Walmart or Bank of America, the effect of the overall economy is inescapable. If you're a passive investor through an index fund, you generalize by owning every single listed company; you've decided not to be selective.

By entrusting us with your money, you have entrusted us to be selective. We, as your Fund's portfolio managers, also have substantial personal assets invested in this Fund. If you notice us slipping into opine mode, remind us to get back to the exceptions! This is what bottom-up, fundamentals-based investing is all about.

The information and data provided in this analysis are derived from sources that we deem to be reliable and accurate. These views are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict so actual outcomes and results may differ significantly from the views expressed. The views/opinions expressed in "Chattering Squirrels" are those of the authors and not of the Columbia Acorn Trust Board, are subject to change at any time based upon economic, market or other conditions, may differ from views expressed by other Columbia Management associates and the respective parties disclaim any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Columbia Acorn Fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any particular Columbia Acorn Fund.

Stocks of small- and mid-cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. International investing involves special risks, including foreign taxation, currency risks, risks associated with possible differences in financial standards and other risks associated with future political and economic developments. Investing in emerging markets may involve greater risks than investing in more developed countries. In addition, concentration of investments in a single region may result in greater volatility. A fund that maintains a relatively concentrated portfolio may be subject to greater risk than a fund that is more fully diversified.

Columbia Acorn Fund

In a Nutshell


Charles P. McQuaid Lead Portfolio Manager				Robert A. Mohn Co-Portfolio Manager

Performance data shown represents past performance and is not a guarantee of future results. The investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data shown. Please visit columbiamanagement.com for daily and most recent month-end performance updates.

Columbia Acorn Fund Class Z shares jumped 10.38% in the third quarter of 2013, beating the Fund's primary benchmark, the Russell 2500 Index, which rose 9.08%. As shown on Page 3, the Fund edged out the smaller cap Russell 2000 Index and the Lipper Mid-Cap Growth Index. Benefitting from both stock selection and good performance of small- and mid-cap stocks, the Fund also handily beat the larger cap S&P 500.

Pharmaceutical/biotech stocks remained volatile and were the strongest group in the quarter. Seattle Genetics was the Fund's largest money-maker, up 39% on the increasing likelihood that its lymphoma drug Adcetris will be approved to treat other forms of cancer. NPS Pharmaceuticals successfully launched Gattex, which treats short bowel syndrome and its stock jumped 111%. Synageva Biopharma made healthy progress on its orphan drug pipeline and its stock was rewarded with a 52% surge. Generic drug maker Akorn made an attractive acquisition and its stock rose 46%. Onyx Pharmaceuticals made lots of progress on developing Kyprolis, a myeloma treatment, and received a takeover offer from Amgen. We sold our shares of Onyx, locking in a 48% gain for the quarter and a 248% gain from our average cost. We started investing in Onyx in 2009, and it has been heartening to both help fund development of drugs that should improve lives while earning fine returns for shareholders. We thank our analyst Rich Watson for picking these fine stocks.

Gaming stocks also did well in the quarter. Bally Technologies, a slot machine manufacturer and software developer, gained 28% on excellent earnings growth due to higher installations of wide area progressive games and revenues from a software upgrade. Shares of Melco Crown Entertainment, a Macau casino operator, jumped 42% on excellent earnings and margin gains. Melco International, which consists primarily of shares of Melco Crown Entertainment, surged 43%.

Shares of India-based information technology and business process outsourcing provider iGATE jumped 69%. Revenue growth has accelerated and the company's costs are likely to benefit from the decline in the value of the Indian rupee. Aircraft replacement parts maker HEICO climbed 36% on fine earnings and sales gains.

Only two stocks hurt Columbia Acorn Fund's performance by more than 0.05%. Down 49%, insurance company Tower Group announced that it would take a large charge to its reserves. We sold the stock in the quarter. Home

furnishings retailer Pier 1 Imports' stock fell 17% on earnings that were down slightly from the prior year and below expectations.

Columbia Acorn Fund's international stocks gained 12.57% in the quarter.* Besides the Melco and iGATE shares mentioned above, a number of smaller international holdings did well. Yandex, which provides Russian and Turkish Internet search engines, gained 32% on fine sales and earnings growth. Precious metal stocks Northam Platinum and Alamos Gold each gained about 30% in the quarter. Columbia Acorn Fund's international stocks accounted for 7.7% of the Fund's assets at the end of the quarter, down slightly from 7.8% at the beginning of the quarter.

Our friends in Washington D.C. provided a temporary reprieve to the federal budget and debt limit controversy shortly before this report was printed. We hope that some real progress will be made soon. Even modest budget and regulatory reforms could help our slow-growing economy. Many smaller-cap companies seem to have adapted to slower growth but should be nimble enough to benefit if the economy accelerates.

*These returns are not comparable to mutual fund returns, as they are gross of fees and other expenses and do not portray the cash effects incurred by actual mutual funds. Columbia Acorn Fund's foreign stockholdings were not purchased as a balanced, stand-alone portfolio.

Portfolio holdings are subject to change periodically and may not be representative of current holdings.

Fund's Positions in Mentioned Holdings

As a percentage of net assets, as of 9/30/13

Bally Technologies	1.2	%
Seattle Genetics	1.2
HEICO	0.7
Synageva Biopharma	0.7
Pier 1 Imports	0.7
iGATE	0.6
Akorn	0.6
NPS Pharmaceuticals	0.5
Melco Crown Entertainment	0.4
Melco International	0.3
Alamos Gold	0.2
Yandex	0.1
Northam Platinum	0.1

Columbia Acorn Fund

At a Glance

Total Net Assets of the Fund:
$20.4 billion

Performance data shown in the table and graph below represent past performance, do not guarantee future results, assume reinvestment of dividends and distributions and do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data shown. Performance data reflect fee waivers or reimbursements of Fund expenses, if any; in their absence, performance results would have been lower. Indexes are unmanaged; their results do not reflect the effect of expenses or sales charges. Securities in the Fund may not match those in an index. Please visit columbiamanagement.com for performance data current to the most recent month-end.

The Growth of a $10,000 Investment in Columbia Acorn Fund Class Z Shares

June 10, 1970 (Fund inception) through September 30, 2013

This chart shows the change in value of a hypothetical $10,000 investment in Class Z shares of the Fund during the stated time period. A $10,000 investment in Columbia Acorn Fund at inception appreciated to $31,777 on December 31, 1978, the inception date of the Russell 2500 Index. For comparison with the Russell 2500 Index, we assigned the index the same value as the Fund at index inception. Although the Fund typically invests in small- and mid-sized companies, the comparison to the S&P 500 Index is presented to show performance against a widely recognized market index over the life of the Fund.

Average Annual Total Returns for period ended September 30, 2013

	3rd quarter			Year to date			1 year			5 years			10 years			Life of Fund
Class Z (6/10/70 inception)		10.38	%		21.99	%		25.66	%		12.58	%		11.15	%		14.83	%
Class A (10/16/00 inception)
without sales charge		10.29			21.73			25.28			12.24			10.81			14.46
with sales charge		3.95			14.73			18.09			10.92			10.15			14.30
Russell 2500 Index*		9.08			25.89			29.79			12.68			10.38			N/A

Results for other share classes can be found on Page 2.

*The Fund's primary benchmark. Please see Page 1 for index descriptions.

Returns for Class A shown with and without the maximum initial sales charge of 5.75%. As stated in the May 1, 2013, prospectus, the Fund's annual operating expense ratio is 0.82% for Class Z shares and 1.10% for Class A shares. The returns shown for periods prior to the inception of the Fund's Class A shares append the returns of the Fund's Class Z shares, the Fund's oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiamanagement.com/mutual-funds/
appended-performance for more information.

Portfolio Diversification

as a percentage of net assets, as of 9/30/13

Top 10 Holdings

as a percentage of net assets, as of 9/30/13

1.	Ametek Aerospace/Industrial Instruments	2.2	%
2.	Mettler-Toledo International Laboratory Equipment	1.9	%
3.	Donaldson Industrial Air Filtration	1.6	%
4.	tw telecom Fiber Optic Telephone/Data Services	1.4	%
5.	Crown Castle International Communications Towers	1.4	%
6.	SBA Communications Communications Towers	1.3	%
7.	Amphenol Electronic Connectors	1.3	%
8.	FMC Technologies Oil & Gas Well Head Manufacturer	1.3	%
9.	Bally Technologies Slot Machines & Software	1.2	%
10.	Nordson Dispensing Systems for Adhesives & Coatings	1.2	%

The Fund's top 10 holdings and portfolio diversification vary with changes in portfolio investments. See the Statement of Investments for a complete list of the Fund's holdings.

Columbia Acorn International

In a Nutshell


P. Zachary Egan Co-Portfolio Manager				Louis J. Mendes III Co-Portfolio Manager

Columbia Acorn International Class Z shares finished the third quarter of 2013 up 8.93%, behind the 10.07% return of its primary benchmark, the S&P Global Ex-U.S. Between $500M and $5B Index. In the first nine months of the year, the Fund was up 15.31%, ahead of the benchmark's return of 12.22%.

Within the small- and mid-cap international universe, absolute returns were highest in continental Europe and the United Kingdom, notwithstanding continued macroeconomic and political uncertainties. Indeed, though they represent very small components of the Fund's investment universe (the Fund currently holds nothing in Greece), Greece and Spain were up over 30% and 22%, respectively. In contrast, in a gradual rotation of leadership, Asian markets including Japan were comparatively lackluster but still posted positive single-digit returns. These disparate performances appear to reflect the increasingly consensus view that developed economies outside of Asia are slowly normalizing, while historically high-growth emerging Asian economies are likely to struggle with higher costs of capital as money is repatriated to developed economies. In some cases, such as in India, these capital flows have resulted in a weakening currency, which can produce its own set of headwinds, particularly for firms borrowing in U.S. dollars on an unhedged basis. Japanese equities are presently highly sensitive to shifting sentiment regarding the long-term efficacy of monetary policy and reform initiatives, which appear radical in the Japanese context. Here, too, the currency is a factor. Lower quality exporters generally benefit from the weakening yen, but fall sharply on yen strength.

Fund industrial stocks, and the capital goods segment in particular, were the largest detractor from performance in the third quarter. While the Fund's industrial holdings returned just short of 10%, this was not enough to beat the robust benchmark return of over 14%. Additionally, industrials represented almost 20% of the portfolio, the Fund's largest single industry group. Particularly poor performers included Rational, a commercial oven manufacturer based in Germany, which faces weak end markets in Europe and currency headwinds in its export business. CTCI, a Taiwanese international engineering and construction firm focusing on

energy infrastructure in China, Southeast Asia and the Middle East, fell 7%. CTCI continues to gain new business but, due to the nature of its large projects, the company's revenues are increasingly back-end loaded. This pushes earnings into the future.

A second area of pronounced weakness in the Fund was telecommunications. Taiwanese mobile operators Far EasTone Telecom and Taiwan Mobile posted modestly negative returns amidst rising investor anxiety about the cost of acquiring bandwidth to support new 4G networks. These were large positions in the Fund and hurt performance in a sector up over 10% globally.

Fortunately, the Fund's laggards were largely offset in the quarter with winners. Macau casino operators Melco Crown Entertainment and Melco International, associated companies, were large positions and up over 40% in the quarter. The stocks benefited from pleasing growth in Macau visitation and gambling revenues that exceeded most industry projections. The removal of logistics bottlenecks over the next few years could drive continued visitation growth to Macau, where only six companies hold gaming licenses and the geography confers a further physical barrier to entry. Favorable market structures like this are hard to find.

International investing involves special risks, including foreign taxation, currency risks, risks associated with possible differences in financial standards, operational and settlement risks and other risks associated with future political and economic developments. Stocks of small- and mid-cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. Investing in emerging markets may involve greater risks than investing in more developed countries. In addition, concentration of investments in a single region may result in greater volatility.

Portfolio holdings are subject to change periodically and may not be representative of current holdings.

Fund's Positions in Mentioned Holdings

As a percentage of net assets, as of 9/30/13

Far EasTone Telecom	1.2	%
Melco Crown Entertainment	1.2
Taiwan Mobile	0.7
Melco International	0.7
Rational	0.6
CTCI	0.4

Columbia Acorn International

At a Glance

Total Net Assets of the Fund:
$8.0 billion

The Growth of a $10,000 Investment in Columbia Acorn International Class Z Shares

September 23, 1992 (Fund inception) through September 30, 2013

This chart shows the change in value of a hypothetical $10,000 investment in Class Z shares of the Fund during the stated time period.

Average Annual Total Returns for period ended September 30, 2013

	3rd quarter			Year to date			1 year			5 years			10 years			Life of Fund
Class Z (9/23/92 inception)		8.93	%		15.31	%		20.18	%		11.66	%		13.43	%		11.48	%
Class A (10/16/00 inception)
without sales charge		8.84			15.05			19.82			11.27			13.03			11.05
with sales charge		2.59			8.43			12.93			9.96			12.36			10.74
S&P Global Ex-U.S. Between $500M and $5B*		10.07			12.22			18.57			10.58			11.79			8.71

Results for other share classes can be found on Page 2.

*The Fund's primary benchmark. Please see Page 1 for index descriptions.

Returns for Class A shown with and without the maximum initial sales charge of 5.75%. As stated in the May 1, 2013, prospectus, the Fund's annual operating expense ratio is 0.95% for Class Z shares and 1.31% for Class A shares. The returns shown for periods prior to the inception of the Fund's Class A shares append the returns of the Fund's Class Z shares, the Fund's oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiamanagement.com/mutual-funds/
appended-performance for more information.

Portfolio Diversification

as a percentage of net assets, as of 9/30/13

Top 10 Holdings

as a percentage of net assets, as of 9/30/13

1.	Far EasTone Telecom (Taiwan) Taiwan's Third Largest Mobile Operator	1.2	%
2.	Melco Crown Entertainment - ADR (Hong Kong) Macau Casino Operator	1.2	%
3.	Coronation Fund Managers (South Africa) South African Fund Manager	1.2	%
4.	CCL Industries (Canada) Largest Global Label Converter	1.1	%
5.	Hexagon (Sweden) Design, Measurement & Visualization Software & Equipment	1.0	%
6.	Neopost (France) Postage Meter Machines	1.0	%
7.	Aalberts Industries (Netherlands) Flow Control & Heat Treatment	1.0	%
8.	Eurofins Scientific (France) Food, Pharmaceuticals & Materials Screening & Testing	1.0	%
9.	Partners Group (Switzerland) Private Markets Asset Management	0.9	%
10.	Naspers (South Africa) Media in Africa, China, Russia & Other Emerging Markets	0.9	%

The Fund's top 10 holdings and portfolio diversification vary with changes in portfolio investments. See the Statement of Investments for a complete list of the Fund's holdings.

Columbia Acorn USA

In a Nutshell


Robert A. Mohn Lead Portfolio Manager

Columbia Acorn USA Class Z shares ended the third quarter of 2013 up 11.47%, outperforming the 10.21% gain of the Fund's primary benchmark, the Russell 2000 Index. The Fund's strong return in the quarter was due, in part, to the outperformance of its health care stocks. Fund gains in this sector more than doubled those of the benchmark.

Of the Fund's top-10 performers, five of the stocks were health care names operating in the biotechnology sector. NPS Pharmaceuticals, a developer of orphan drugs, gained 110% in the quarter on the successful launch of its drug Gattex, which treats short bowel syndrome. Seattle Genetics, a developer of antibody-based therapies for cancer, was up 39% on encouraging signs that its drug Adcetris, which is approved for treating Hodgkin's lymphoma, will prove effective in treating other forms of cancer. Synageva Biopharma, also a biotech focused on orphan diseases, was up 52% on enthusiasm over trials for a drug treating a rare disease known as LAL deficiency. Drug developer Alnylam Pharmaceuticals gained 107% after reporting positive trial data for its drug to treat the rare disease TTR amyloidosis. Onyx Pharmaceuticals, a biotech focused on cancer, gained 48% in the quarter on news it was to be acquired by Amgen. We sold the Fund's position in Onyx soon after the announcement of the acquisition.

Outside the health care sector, strong contributors included slot machine manufacturer and software developer Bally Technologies, up 28%. Bally's stock increased on excitement over its acquisition of table gaming company SHFL Entertainment, previously known as ShuffleMaster and a former holding of our Funds.

HEICO, a producer of FAA-approved aircraft replacement parts, saw its stock gain 36% on strong revenue growth of 18% year-over-year. Caesarstone, a producer of engineered quartz countertops, gained 68% as its existing production lines ran at maximum capacity to fill strong consumer and commercial demand.

Detractors from performance came from a variety of industries. The biggest dollar loser in the Fund in the third quarter was home furnishing retailer Pier 1 Imports, which declined 17%. While same-store sales data was positive

for the most recently reported quarter, results were below projections. Down 15%, Ixia, a maker of telecom network testing equipment, also fell on disappointing sales.

Convention hotel operator Ryman Hospitality Properties suffered from weak bookings in its convention business, sending its stock down 10% for the quarter. Rental car operator Hertz dropped 11% following reports of softer volumes at U.S. airport rental counters.

Small-cap investors are a happy lot. The small-cap Russell 2000 Index climbed 28% during the first nine months of the year. This pace of gains can't continue forever, but we are encouraged by the fact that we are still able to find plenty of reasonably priced, small-cap stocks with what we believe are attractive growth prospects.

Stocks of small- and mid-cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies.

Portfolio holdings are subject to change periodically and may not be representative of current holdings.

Fund's Positions in Mentioned Holdings

As a percentage of net assets, as of 9/30/13

Bally Technologies	2.3	%
HEICO	1.8
Seattle Genetics	1.5
Synageva Biopharma	1.2
NPS Pharmaceuticals	1.0
Pier 1 Imports	0.9
Caesarstone	0.9
Ryman Hospitality Properties	0.9
Hertz	0.8
Ixia	0.7
Alnylam Pharmaceuticals	0.6

Columbia Acorn USA

At a Glance

Total Net Assets of the Fund:
$1.7 billion

The Growth of a $10,000 Investment in Columbia Acorn USA Class Z Shares

September 4, 1996 (Fund inception) through September 30, 2013

This chart shows the change in value of a hypothetical $10,000 investment in Class Z shares of the Fund during the stated time period.

Average Annual Total Returns for period ended September 30, 2013

	3rd quarter			Year to date			1 year			5 years			10 years			Life of Fund
Class Z (9/4/96 inception)		11.47	%		24.24	%		28.18	%		12.02	%		9.94	%		10.99	%
Class A (10/16/00 inception)
without sales charge		11.38			24.00			27.86			11.71			9.61			10.61
with sales charge		4.99			16.87			20.50			10.39			8.96			10.23
Russell 2000 Index*		10.21			27.69			30.06			11.15			9.64			8.52

Results for other share classes can be found on Page 2.

*The Fund's primary benchmark. Please see Page 1 for index descriptions.

Returns for Class A shown with and without the maximum initial sales charge of 5.75%. As stated in the May 1, 2013, prospectus, the Fund's annual operating expense ratio is 1.15% for Class Z shares and 1.38% for Class A shares. The returns shown for periods prior to the inception of the Fund's Class A shares append the returns of the Fund's Class Z shares, the Fund's oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiamanagement.com/mutual-funds/
appended-performance for more information.

Portfolio Diversification

as a percentage of net assets, as of 9/30/13

Top 10 Holdings

as a percentage of net assets, as of 9/30/13

1.	Nordson Dispensing Systems for Adhesives & Coatings	2.9	%
2.	Ametek Aerospace/Industrial Instruments	2.3	%
3.	Bally Technologies Slot Machines & Software	2.3	%
4.	tw telecom Fiber Optic Telephone/Data Services	2.3	%
5.	Mettler-Toledo International Laboratory Equipment	2.3	%
6.	Extra Space Storage Self Storage Facilities	2.2	%
7.	Avis Budget Group Second Largest Car Rental Company	2.0	%
8.	Donaldson Industrial Air Filtration	1.9	%
9.	HEICO FAA Approved Aircraft Replacement Parts	1.8	%
10.	Informatica Enterprise Data Integration Software	1.7	%

The Fund's top 10 holdings and portfolio diversification vary with changes in portfolio investments. See the Statement of Investments for a complete list of the Fund's holdings.

Columbia Acorn International Select

In a Nutshell


Christopher J. Olson Lead Portfolio Manager

Columbia Acorn International Select Class Z shares ended the third quarter of 2013 up 10.50%. This compares to an 11.75% gain for the Fund's primary benchmark, the S&P Developed Ex-U.S. Between $2B and $10B Index. The Fund's absolute return for the quarter was bolstered by a positive turn in Fund materials stocks but was dampened relative to the benchmark by a pullback in the performance of large telecommunications and real estate investment trust (REIT) positions in the Fund.

Reversing their downward trend, mining stocks within the materials sector brought in strong returns in the third quarter and provided four of the top-10 contributors to performance. Beadell Resources, a Brazilian gold miner, topped the list with an 86% gain for the three-month period. Its stock rose on positive production news, which should fuel cash flow into 2014. Miners Archipelago Resources in Indonesia, Guatemala's Tahoe Resources and Australia's Regis Resources rounded out the list of top contributors with gains ranging from 27% to 43%. These companies continue to report positive operational results but can be very volatile depending on market sentiment toward precious metals.

Outside the materials sector, "43" seemed to be our lucky number. Japanese online apparel retailer Start Today gained 43% for the period as the company continued to benefit from improved marketing and cost cutting, as well as strong revenue growth. Australia's Challenger Financial, an annuity provider, was also up 43% for the quarter, on the back of strong annuity sales and the continuing development of its boutique fund management business. Hong Kong's Melco International, a Macau Casino Operator, attributed its 43% gain to continued strong inflows of Chinese gamblers.

Taiwan mobile operators Taiwan Mobile and Far EasTone Telecom were among the largest detractors in the third quarter with declines of 7% and 4%, respectively. Investors became concerned about the cost of acquiring bandwidth to support new 4G networks, sending these stocks down in the quarter. We felt it was prudent to pare back exposure in this area as uncertainty may persist for a while. Japanese ATM processing services provider Seven Bank also cooled in the quarter, falling 7% after a strong run in the beginning of the year.

Property landlords Mapletree Greater China Commercial Trust in Hong Kong and Singapore's Mapletree Commercial Trust were each off 7%. Real estate stocks have been hurt by fears of rising interest rates and we opted to sell the Fund's position in these two names to further diversify Fund holdings. Underperformer Imtech, a Dutch technical installation and maintenance service provider, was also sold out of the Fund as its future remains questionable.

After a strong run in the markets, valuations in many areas remain frothy and good values are increasingly hard to find. It appears central banks' easy money policies are having the desired impact on asset prices. Yet it remains to be seen whether or not they will have the desired positive impact on real global economic growth.

International investing involves special risks, including foreign taxation, currency risks, risks associated with possible differences in financial standards, operational and settlement risks and other risks associated with future political and economic developments. Due to the Fund's concentration in a limited number of stocks, the Fund's portfolio will tend to diverge significantly from benchmark weightings and may therefore pose greater risk and volatility relative to its benchmark, or in comparison to other Columbia Acorn fund portfolios that are supported by the same team of investment analysts. Stocks of small- and mid-cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. Investing in emerging markets may involve greater risks than investing in more developed countries.

Portfolio holdings are subject to change periodically and may not be representative of current holdings.

Fund's Positions in Mentioned Holdings

As a percentage of net assets, as of 9/30/13

Far EasTone Telecom	6.6	%
Archipelago Resources	3.0
Start Today	2.9
Tahoe Resources	2.9
Taiwan Mobile	2.9
Beadell Resources	2.7
Challenger Financial	2.3
Seven Bank	2.3
Regis Resources	1.8
Melco International	1.8

Columbia Acorn International Select

At a Glance

Total Net Assets of the Fund:
$366.2 million

The Growth of a $10,000 Investment in Columbia Acorn International Select Class Z Shares

November 23, 1998 (Fund inception) through September 30, 2013

This chart shows the change in value of a hypothetical $10,000 investment in Class Z shares of the Fund during the stated time period.

Average Annual Total Returns for period ended September 30, 2013

	3rd quarter			Year to date			1 year			5 years			10 years			Life of Fund
Class Z (11/23/98 inception)		10.50	%		12.53	%		10.85	%		9.58	%		12.42	%		9.94	%
Class A (10/16/00 inception)
without sales charge		10.42			12.34			10.58			9.20			12.07			9.58
with sales charge		4.06			5.89			4.22			7.91			11.41			9.15
S&P Developed Ex-U.S. Between $2B and $10B Index*		11.75			16.55			22.78			9.07			10.03			7.90

Results for other share classes can be found on Page 2.

*The Fund's primary benchmark. Please see Page 1 for index descriptions.

Returns for Class A shown with and without the maximum initial sales charge of 5.75%. As stated in the May 1, 2013, prospectus, the Fund's annual operating expense ratio is 1.26% for Class Z shares and 1.51% for Class A shares. The returns shown for periods prior to the inception of the Fund's Class A shares append the returns of the Fund's Class Z shares, the Fund's oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiamanagement.com/mutual-funds/
appended-performance for more information.

Portfolio Diversification

as a percentage of net assets, as of 9/30/13

Top 10 Holdings

as a percentage of net assets, as of 9/30/13

1.	Far EasTone Telecom (Taiwan) Taiwan's Third Largest Mobile Operator	6.6	%
2.	Ascendas REIT (Singapore) Industrial Property Landlord	4.7	%
3.	NGK Spark Plug (Japan) Automobile Parts	4.6	%
4.	Jardine Lloyd Thompson Group (United Kingdom) International Business Insurance Broker	3.8	%
5.	CCL Industries (Canada) Largest Global Label Converter	3.7	%
6.	Neopost (France) Postage Meter Machines	3.0	%
7.	Archipelago Resources (Indonesia) Gold Mining Projects in Indonesia, Vietnam & the Philippines	3.0	%
8.	IAG (Australia) General Insurance Provider	3.0	%
9.	Start Today (Japan) Online Japanese Apparel Retailer	2.9	%
10.	Tahoe Resources (Guatemala) Silver Project in Guatemala	2.9	%

The Fund's top 10 holdings and portfolio diversification vary with changes in portfolio investments. See the Statement of Investments for a complete list of the Fund's holdings.

Columbia Acorn Select

In a Nutshell


Robert A. Chalupnik Lead Portfolio Manager

Columbia Acorn Select Class Z shares ended the third quarter of 2013 up 9.08%, outperforming the 7.54% gain of its primary benchmark, the S&P MidCap 400 Index. Although the Fund trailed its benchmark year to date through September, I am pleased with the progress made over the past two quarters to close the underperformance gap.

Top contributors in the quarter included WNS, an offshore business process outsourcing company, up 27%. WNS is enjoying a growing pipeline of new business and price-to-earnings multiple expansion. Insurance provider CNO Financial's stock moved higher as the company continued to make progress toward its goal of 9% return on equity (ROE) by the end of 2015. Its stock was up 11% in the quarter. Canacol, an oil producer in South America, was up 54% in the quarter due to solid production from existing wells and successful results from newer wells.

Hertz cooled in the third quarter, falling 11% after reporting weaker than expected rental volumes at U.S. airports. Prospects for Hertz remain strong, however, with 2013 earnings growth still expected to exceed 30%. We sold the Fund's position in convention hotel operator Ryman Hospitality Properties. Its stock has struggled recently and fell 13% in the third quarter. Transition issues have plagued the company since its move to a real estate investment trust (REIT) and our analyst grew concerned about increased competition in key markets. Canadian gold miner Kirkland Lake Gold fell 20% in the quarter. Investors worried about falling gold prices and that Kirkland's balance sheet may not support a prolonged period of lower prices.

We added Post Properties, a multi-family REIT, to the portfolio in the quarter. Post's rental properties are located in faster growing markets in the South and the Mid-Atlantic states and we believe the company should benefit from rising rental rates in its markets. We sold out of Dupont Fabros Technology, a data center REIT, to swap into Post Properties. This decision was driven, in part, by Post's ability to raise its rental rates to keep up with inflation. Post's tenants renew their leases annually while other REITs may offer longer leasing terms and, therefore, have a more difficult time responding to economic conditions.

Another addition to the Fund during the quarter was Casey's General Stores, an owner/operator of convenience

stores located in rural communities. Generally, its stores are the only game in town and the chain is experiencing growth in new stores as well as adding higher margin products to existing locations. Rowan, a contract offshore driller, was also added in the quarter. The company is enjoying strong demand for its deep water drilling services and is expanding its fleet of rigs.

lululemon athletica, a premium active apparel retailer, was sold in the quarter. We sold the Fund's position due to valuation concerns and increased competition. RexLot Holdings, a lottery equipment supplier in China, was sold to reduce the portfolio's exposure to riskier, micro-cap names.

Most would agree that 2013 economic results have been disappointing thus far. Gross domestic product growth remains slow while unemployment and budget deficits remain high. Washington politics, from the viewpoint of either party, remain frustrating and are likely to have some negative impact on consumer confidence and economic growth in the short term. Although we pay attention to macroeconomic factors, our focus remains on finding growing businesses and paying a reasonable valuation for that growth. We remain committed to this strategy and believe it will be successful over the long term.

Risks include stock market fluctuations due to economic and business developments. The Fund also has potentially greater price volatility due to the Fund's concentration in a limited number of stocks of mid-size companies. International investing involves special risks, including foreign taxation, currency risks, risks associated with possible differences in financial standards, operational and settlement risks and other risks associated with future political and economic developments.

Portfolio holdings are subject to change periodically and may not be representative of current holdings.

Fund's Positions in Mentioned Holdings

As a percentage of net assets, as of 9/30/13

WNS	4.9	%
CNO Financial Group	4.8
Hertz	4.1
Post Properties	2.2
Canacol	1.7
Casey's General Stores	1.4
Rowan	1.1
Kirkland Lake Gold	0.6

Columbia Acorn Select

At a Glance

Total Net Assets of the Fund:
$886.2 million

The Growth of a $10,000 Investment in Columbia Acorn Select Class Z Shares

November 23, 1998 (Fund inception) through September 30, 2013

This chart shows the change in value of a hypothetical $10,000 investment in Class Z shares of the Fund during the stated time period.

Average Annual Total Returns for period ended September 30, 2013

	3rd quarter			Year to date			1 year			5 years			10 years			Life of Fund
Class Z (11/23/98 inception)		9.08	%		22.37	%		24.87	%		11.33	%		8.44	%		10.33	%
Class A (10/16/00 inception)
without sales charge		9.03			22.09			24.52			11.00			8.11			9.98
with sales charge		2.76			15.06			17.36			9.70			7.48			9.54
S&P MidCap 400 Index*		7.54			23.23			27.68			13.08			10.84			10.26

Results for other share classes can be found on Page 2.

*The Fund's primary benchmark. Please see Page 1 for index descriptions.

Returns for Class A shown with and without the maximum initial sales charge of 5.75%. As stated in the May 1, 2013, prospectus, the Fund's annual operating expense ratio is 1.07% for Class Z shares and 1.35% for Class A shares. The returns shown for periods prior to the inception of the Fund's Class A shares append the returns of the Fund's Class Z shares, the Fund's oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiamanagement.com/mutual-funds/
appended-performance for more information.

Portfolio Diversification

as a percentage of net assets, as of 9/30/13

Top 10 Holdings

as a percentage of net assets, as of 9/30/13

1.	Ametek Aerospace/Industrial Instruments	5.9	%
2.	WNS - ADR (India) Offshore Business Process Outsourcing Services	4.9	%
3.	CNO Financial Group Life, Long-term Care & Medical Supplement Insurance	4.8	%
4.	Hertz Largest U.S. Rental Car Operator	4.1	%
5.	Donaldson Industrial Air Filtration	4.0	%
6.	Amphenol Electronic Connectors	3.9	%
7.	Discover Financial Services Credit Card Company	3.9	%
8.	City National Bank & Asset Manager	3.3	%
9.	Pall Life Science, Water & Industrial Filtration	3.3	%
10.	SBA Communications Communications Towers	3.2	%

The Fund's top 10 holdings and portfolio diversification vary with changes in portfolio investments. See the Statement of Investments for a complete list of the Fund's holdings.

Columbia Thermostat Fund

In a Nutshell


Charles P. McQuaid Lead Portfolio Manager

A "fund of fund" bears its allocable share of the costs and expenses of the underlying funds in which it invests. Such funds are thus subject to two levels of fees and potentially higher expense ratios than would be associated with a fund that invests and trades directly in financial instruments under the direction of a single manager.

Columbia Thermostat Fund Class Z shares ended the third quarter of 2013 up 2.92%. This compares to a 5.24% return for the Fund's primary equity benchmark, the S&P 500 Index, and a 0.57% gain for its primary debt benchmark, the Barclays U.S. Aggregate Bond Index.

The Fund hit three reallocation triggers during the third quarter, decreasing stock fund exposure in July and August, and increasing it in September. After the period end, stocks were reduced again on equity market strength. By the end of October, the Fund's stock exposure had dropped to 10%.

The equity portion of the portfolio was strong in the third quarter, topping returns of the Fund's equity benchmark. The weighted average gain for the equity portfolio was 8.12% with Columbia Select Large Cap Growth Fund leading performance with an 18.91% gain. Columbia Dividend Income Fund rose the least in the three-month period, up just 2.28%.

The bond portion of the Fund had a positive weighted average return for the third quarter, though up just 0.77%. Columbia Income Opportunities Fund had a 1.96% gain in the quarter, topping the 0.37% return of Columbia Short Term Bond Fund and the 0.11% gain of Columbia Intermediate Bond Fund.

Columbia Thermostat Fund is designed to do best in a range-bound equity market, by selling stock funds on strength and buying on weakness. The current stock market rally has left Columbia Thermostat dominated with bond funds. The S&P 500 rose over 1,750 in October, causing the Fund to drop to its minimum 10% weight in stock funds, given its current prospectus allocation table. Should

there be a stock market correction, Columbia Thermostat Fund is poised to buy stock funds.

Results of the Funds Owned in Columbia Thermostat Fund

as of September 30, 2013

Stock Funds

Fund	Weightings in category			3rd quarter			Year to date
Columbia Acorn International, Class I		20	%		8.95	%		15.35	%
Columbia Dividend Income Fund, Class I		20	%		2.28	%		17.90	%
Columbia Acorn Fund, Class I		15	%		10.40	%		22.05	%
Columbia Contrarian Core Fund, Class I		15	%		6.77	%		22.97	%
Columbia Acorn Select, Class I		10	%		9.10	%		22.45	%
Columbia Large Cap Enhanced Core Fund, Class I		10	%		5.41	%		20.76	%
Columbia Select Large Cap Growth Fund, Class I		10	%		18.91	%		31.37	%
Weighted Average Equity Gain		100	%		8.12	%		20.88	%

Bond Funds

Fund	Weightings in category			3rd quarter			Year to date
Columbia Short Term Bond Fund, Class I		40	%		0.37	%		0.32	%
Columbia Intermediate Bond Fund, Class I		30	%		0.11	%		-2.33	%
Columbia Income Opportunities Fund, Class I		30	%		1.96	%		1.99	%
Weighted Average Income Gain		100	%		0.77	%		0.03	%

Columbia Thermostat Fund Rebalancing in the Third Quarter

July 22, 2013				20% stocks, 80% bonds
August 2, 2013				15% stocks, 85% bonds
September 3, 2013				25% stocks, 75% bonds

The value of an investment in the Fund is based primarily on the performance of the underlying funds in which it invests. The Fund is subject to the risk that the investment manager's decisions regarding asset classes and underlying funds will not anticipate market trends successfully, resulting in a failure to preserve capital or lower total return.

The Fund's investments in the underlying funds may also present certain risks, including the following. Investments made by underlying funds in foreign securities, particularly those in emerging markets countries, are subject to special risks, including but not limited to a greater degree of social, political and economic volatility than is associated with domestic investments, as well as the risks associated with any differences in financial standards, including foreign taxation. Investments by the underlying funds in small- and mid-cap companies, as well as in restricted securities, pose special risks, including potential illiquidity and price volatility. Underlying funds that concentrate their investments in a single industry sector, such as technology or healthcare, are subject to the risk that companies in the same sector may be similarly affected by economic or market downturns. Risks associated with investments in bond funds include credit risk, interest rate risk, and prepayment and extension risk. Debt securities with the lowest investment grade ratings and unrated securities of comparable quality are more speculative than securities with higher ratings and may experience greater price fluctuations. These securities also tend to be more sensitive to credit risk than higher-rated securities. This is not an offer of the shares of any other mutual fund mentioned herein.

Columbia Thermostat Fund

At a Glance

Total Net Assets of the Fund:
$1.3 billion

The Growth of a $10,000 Investment in Columbia Thermostat Fund Class Z Shares

September 25, 2002 (Fund inception) through September 30, 2013

This chart shows the change in value of a hypothetical $10,000 investment in Class Z shares of the Fund during the stated time period.

Average Annual Total Returns for period ended September 30, 2013

	3rd quarter			Year to date			1 year			5 years			10 years			Life of Fund
Class Z (9/25/02 inception)		2.92	%		7.21	%		8.85	%		9.93	%		7.46	%		8.21	%
Class A (3/3/03 inception)
without sales charge		2.89			7.06			8.64			9.67			7.19			7.94
with sales charge		-3.04			0.92			2.41			8.38			6.55			7.36
S&P 500 Index*		5.24			19.79			19.34			10.02			7.57			8.94
Barclays U.S. Aggregate Bond Index*		0.57			-1.89			-1.68			5.41			4.59			4.68

Results for other share classes can be found on Page 2.

*The Fund's primary benchmarks. Please see Page 1 for index descriptions.

Returns for Class A shown with and without the maximum initial sales charge of 5.75%. As stated in the May 1, 2013, prospectus, the Fund's annual operating expense ratio is 0.85% for Class Z shares and 1.10% for Class A shares. The returns shown for periods prior to the inception of the Fund's Class A shares append the returns of the Fund's Class Z shares, the Fund's oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiamanagement.com/mutual-funds/
appended-performance for more information.

Asset Allocation

as a percentage of net assets, as of 9/30/13

Portfolio Weightings

as a percentage of assets in each investment category, as of 9/30/13

Stock Mutual Funds

Columbia Acorn International, Class I	20	%
Columbia Dividend Income Fund, Class I	20	%
Columbia Acorn Fund, Class I	15	%
Columbia Contrarian Core Fund, Class I	15	%
Columbia Acorn Select, Class I	10	%
Columbia Large Cap Enhanced Core Fund, Class I	10	%
Columbia Select Large Cap Growth Fund, Class I	10	%

Bond Mutual Funds

Columbia Short Term Bond Fund, Class I	40	%
Columbia Intermediate Bond Fund, Class I	30	%
Columbia Income Opportunities Fund, Class I	30	%

Columbia Acorn Emerging Markets Fund

In a Nutshell


Fritz G. Kaegi Lead Portfolio Manager				Stephen Kusmierczak Lead Portfolio Manager

P. Zachary Egan Co-Portfolio Manager				Louis J. Mendes III Co-Portfolio Manager

Columbia Acorn Emerging Markets Fund Class Z shares gained 4.91% in the third quarter of 2013, outperforming the 2.89% gain of its primary benchmark, the S&P Emerging Markets Between $500M and $5B Index. The Fund has outperformed its benchmark for the first nine months of 2013, gaining 4.47% versus the benchmark's decline of 1.99%. Since its inception in August 2011, in a period of significant volatility in emerging markets stocks, the Fund has outperformed its benchmark by nine percentage points on an annualized basis, gaining 12.09% versus the benchmark's gain of 3.08%.

The leading percentage gainer in the third quarter was Brazilian gold miner Beadell Resources. Following a fall of 55% in the second quarter, the stock rose over 87% in the third quarter, recovering its entire decline, in local currency terms, since the end of April. The company provided a positive production update, which promises solid free cash flow in 2014. The Fund's largest holding, Macau casino operator Melco International, continued to be a strong contributor, gaining another 43% this quarter. The stock was up 125% year to date following robust gaming revenue growth, increasing investor interest and a re-rating of the sector. New idea Biostime provides infant formula in China. The stock was added to the portfolio in June after a sharp decline, which followed allegations of price fixing in the industry. Its stock recovered in the third quarter, gaining 42%. Chroma Ate has been a volatile holding, trading down 32% in the second quarter after a large investor exited its position in this relatively illiquid name. Up 37% in the third quarter, the company provides automation and testing equipment used in clean energy and LED production, areas where we expect reasonable growth in an overall muted electronics segment.

Our investments in India continue to be a headwind for the Fund. Yes Bank is a corporate and small- to medium-sized enterprises lender in a market dominated by state banks. Capricious rule changes by the Indian regulator and rising interest rates caused the stock to drop 35%. The stock was subsequently sold out of the Fund. Redington India provides supply chain solutions for IT and mobile phones

in emerging markets. Deteriorating margins, slower revenue growth and overall poor sentiment in India caused the stock to drop 27% this quarter.

Indonesian satellite broadcaster MNC Skyvision fell 34%. Investors have fled Indonesian stocks, although we believe the company's operations and long-term prospects appear solid. Brazilian loyalty program operator Multiplus and Hong Kong miniature acoustics components manufacturer AAC Technologies, fell 25% and 24%, respectively. We no longer hold either position.

In the third quarter, the consumer discretionary sector, which has been the largest performance contributor to the Fund since inception, became a performance detractor. While the sector remained one of the top benchmark performers, our stocks matched just over half of the benchmark gain. Much of this is explained by higher currency devaluation in the Fund's portfolio versus the benchmark, but of the Fund's 10 worst percentage drops this quarter, five were consumer discretionary companies. Consumer discretionary remains the Fund's biggest sector overweight (26% versus 16% in the benchmark) but trimming some large holdings has reduced the Fund's average weight from 31% last quarter. We continue to monitor valuations and fundamentals of the individual stocks in the portfolio closely, and will make weighting changes based on careful bottom-up analysis.

Portfolio holdings are subject to change periodically and may not be representative of current holdings.

Fund's Positions in Mentioned Holdings

As a percentage of net assets, as of 9/30/13

Melco International	3.2	%
MNC Skyvision	1.5
Biostime	1.2
Beadell Resources	1.2
Chroma Ate	1.0
Redington India	0.9

Columbia Acorn Emerging Markets Fund

At a Glance

Total Net Assets of the Fund:
$289.7 million

The Growth of a $10,000 Investment in Columbia Acorn Emerging Markets Fund Class Z Shares

August 19, 2011 (Fund inception) through September 30, 2013

This chart shows the change in value of a hypothetical $10,000 investment in Class Z shares of the Fund during the stated time period.

Average Annual Total Returns for period ended September 30, 2013

	3rd quarter			Year to date			1 year			Life of Fund
Class Z (8/19/11 inception)		4.91	%		4.47	%		13.96	%		12.09	%
Class A (8/19/11 inception)
without sales charge		4.84			4.40			13.67			11.75
with sales charge		-1.18			-1.57			7.12			8.66
S&P Emerging Markets Between $500M and $5B Index*		2.89			-1.99			4.94			3.08

Results for other share classes can be found on Page 2.

*The Fund's primary benchmark. Please see Page 1 for index descriptions.

Returns for Class A shown with and without the maximum initial sales charge of 5.75%. As stated in the May 1, 2013, prospectus, the Fund's annual operating expense ratio is 1.60% for Class Z shares and 1.85% for Class A shares.

Portfolio Diversification

as a percentage of net assets, as of 9/30/13

Top 10 Holdings

as a percentage of net assets, as of 9/30/13

1.	Melco International (Hong Kong) Macau Casino Operator	3.2	%
2.	Coronation Fund Managers (South Africa) South African Fund Manager	2.7	%
3.	Melco Crown Resorts (Philippines) Integrated Resort Operator in Manila	2.0	%
4.	Far EasTone Telecom (Taiwan) Taiwan's Third Largest Mobile Operator	2.0	%
5.	Hexagon (Sweden) Design, Measurement & Visualization Software & Equipment	2.0	%
6.	Sa Sa International (Hong Kong) Cosmetics Retailer	2.0	%
7.	Localiza Rent A Car (Brazil) Car Rental	2.0	%
8.	Home Product Center (Thailand) Home Improvement Retailer	2.0	%
9.	Isagen (Colombia) Colombian Electricity Provider	1.9	%
10.	Nagacorp (Cambodia) Casino/Entertainment Complex in Cambodia	1.9	%

The Fund's top 10 holdings and portfolio diversification vary with changes in portfolio investments. See the Statement of Investments for a complete list of the Fund's holdings.

Columbia Acorn European Fund

In a Nutshell


Andreas Waldburg-Wolfegg Lead Portfolio Manager				Stephen Kusmierczak Co-Portfolio Manager

Columbia Acorn European Fund Class Z shares gained 12.03% in the third quarter of 2013, underperforming the 16.73% gain of its primary benchmark, the S&P Europe Between $500M and $5B Index. For the first nine months of the year, the Fund was up 20.41%, lagging the benchmark gain of 24.28%. Since the Fund's August 2011 inception, its annualized gain was 18.82% versus the benchmark's 20.31% return. Absolute performance has been strong but we are disappointed that the Fund has lagged the benchmark.

The Fund's top four percentage winners in the third quarter were UK-listed companies. Newspaper and magazine distributor Smiths News jumped 44% after winning new contract extensions and reaffirming its profit guidance. Online grocery retailer Ocado continued to be a strong performer, up 39% in the quarter on robust revenue growth driven by fuller customer carts. Archipelago Resources is a gold miner in Indonesia and Southeast Asia that is listed in the United Kingdom. The stock gained 38% on news of a takeout offer launched by its majority owner, who intends to re-list the stock in Indonesia. We sold the stock following the announcement. Halford's is a newer idea in the Fund, which was purchased in the second quarter. As the UK's leading retailer of leisure goods and auto parts, Halford's has been reinvigorated by new management and good revenues in car maintenance, which helped lift the shares 35% in the quarter.

The Fund's industrial stocks underperformed the benchmark in the quarter, gaining 13% while the sector was up 20% in the benchmark. The industrial sector was the best performer in the index this quarter, but 18 of the Fund's 20 industrial holdings underperformed the sector return. Corruption-plagued Imtech, a Dutch technical installation and maintenance services company, had the largest percentage drop among the Fund's industrials and the third largest drop in the Fund for the quarter, falling 21%. The Fund's position in Imtech was sold in the quarter. Another industrial holding, French engineering consultancy AKKA Technologies, provides outsourced research and development services to French industry. The stock declined 14% on weak demand from its automotive customers.

Other laggards included Germany's Stratec Biomedical Systems, a manufacturer of medical diagnostic instrumentation, which dropped 22% after issuing its third profit warning in 14 months due to delayed product launches and lower margins. This position was sold out of the Fund. Turkish cash and carry retailer Bizim Toptan fell 21% following a sharp fall in the Turkish stock market and a downgrade in the company's margin guidance. We added to the name given the company's net cash position, negative net working capital and long-term prospects for growth in this category.

Evidence points to some green shoots in Europe. Dutch and Irish housing prices seem to have bottomed out, budget discipline appears to have reduced fiscal imbalances in Southern Europe, while German employment continues at a record high. We have been receiving modest inflows into the Fund, perhaps signaling a slow return of investor confidence in Europe.

Portfolio holdings are subject to change periodically and may not be representative of current holdings.

Fund's Positions in Mentioned Holdings

As a percentage of net assets, as of 9/30/13

Ocado	2.0	%
Smiths News	1.2
Halford's	1.0
Bizim Toptan	0.9
AKKA Technologies	0.9

Columbia Acorn
European Fund

At a Glance

Total Net Assets of the Fund:
$14.4 million

The Growth of a $10,000 Investment in Columbia Acorn European Fund Class Z Shares

August 19, 2011 (Fund inception) through September 30, 2013

This chart shows the change in value of a hypothetical $10,000 investment in Class Z shares of the Fund during the stated time period.

Average Annual Total Returns for period ended September 30, 2013

	3rd quarter			Year to date			1 year			Life of Fund
Class Z (8/19/11 inception)		12.03	%		20.41	%		26.53	%		18.82	%
Class A (8/19/11 inception)
without sales charge		11.88			20.15			26.15			18.50
with sales charge		5.45			13.22			18.86			15.23
S&P Europe Between $500M and $5B Index*		16.73			24.28			34.23			20.31

Results for other share classes can be found on Page 2.

*The Fund's primary benchmark. Please see Page 1 for index descriptions.

Returns for Class A shown with and without the maximum initial sales charge of 5.75%. As stated in the May 1, 2013, prospectus, the Fund's annual operating expense ratio is 1.50% for Class Z shares and 1.75% for Class A shares.

Portfolio Diversification

as a percentage of net assets, as of 9/30/13

Top 10 Holdings

as a percentage of net assets, as of 9/30/13

1.	Eurofins Scientific (France) Food, Pharmaceuticals & Materials Screening & Testing	2.5	%
2.	Jardine Lloyd Thompson Group (United Kingdom) International Business Insurance Broker	2.3	%
3.	Gemalto (France) Digital Security Solutions	2.3	%
4.	Assura (United Kingdom) UK Primary Health Care Property Developer	2.1	%
5.	Neopost (France) Postage Meter Machines	2.0	%
6.	Ocado (United Kingdom) Online Grocery Retailer	2.0	%
7.	Bertrandt (Germany) Outsourced Engineering	1.9	%
8.	Aalberts Industries (Netherlands) Flow Control & Heat Treatment	1.8	%
9.	Geberit (Switzerland) Plumbing Supplies	1.8	%
10.	Aurelius (Germany) European Turnaround Investor	1.8	%

The Fund's top 10 holdings and portfolio diversification vary with changes in portfolio investments. See the Statement of Investments for a complete list of the Fund's holdings.

Columbia Acorn Fund

Major Portfolio Changes in the Third Quarter (Unaudited)

	Number of Shares
	6/30/13		9/30/13
Purchases
Information
Bankrate		100,000		200,000
Boingo Wireless		2,200,000		2,271,214
CalAmp		560,298		910,000
Globalstar		21,942,200		22,100,000
InContact		2,761,147		3,200,000
Liquidity Services		750,000		900,000
Monolithic Power Systems		1,113,389		1,240,000
Pandora Media		0		2,555,000
RetailMeNot		0		1,344,707
Rogers		250,000		400,000
Tangoe		0		1,725,971
Virtusa		2,125,000		2,125,000
Industrial Goods & Services
Airgas		294,180		405,841
Echo Global Logistics		400,000		700,000
Generac		2,728,000		3,200,000
MRC Global		1,900,000		2,320,000
NVR		82,000		99,000
Titan Machinery		393,100		965,000
WESCO International		1,200,000		1,620,000
Consumer Goods & Services
B&G Foods		1,143,265		1,325,000
Boulder Brands		2,475,000		2,886,552
Casey's General Stores		604,000		754,000
Domino's Pizza		630,000		968,000
Fiesta Restaurant Group		285,000		625,000
Fifth & Pacific Companies		0		1,000,000
GameStop		0		865,000
Hertz		3,750,000		4,600,000
Restoration Hardware Holdings		125,000		474,000
Select Comfort		450,000		1,100,000
Tile Shop Holdings		446,000		546,000
ULTA		1,185,000		1,385,000
United Natural Foods		0		250,000
Finance
First Busey		4,299,507		4,841,882
McGrath Rentcorp		2,150,000		2,150,000
SEI Investments		7,100,000		7,275,000
TrustCo Bank		2,136,500		2,136,500

	Number of Shares
	6/30/13		9/30/13
Health Care
Akorn		4,000,000		6,312,644
Allscripts Healthcare Solutions		5,600,000		9,905,000
Alnylam Pharmaceuticals		730,000		908,681
ARIAD Pharmaceuticals		3,130,000		4,000,000
Envision Healthcare Holdings		0		1,004,000
HealthSouth		1,450,000		2,650,000
Ophthotech		0		187,909
Sirona Dental Systems		1,025,000		1,550,000
Synageva Biopharma		1,812,575		2,392,000
Energy & Minerals
Alamos Gold (Canada)		1,600,000		2,100,000
Allied Nevada Gold		0		2,000,000
Baytex (Canada)		361,000		743,000
Bill Barrett Corporation		0		1,550,834
Canadian Overseas Petroleum (United Kingdom)		8,400,000		19,400,000
Carrizo Oil & Gas		0		181,160
DeeThree Exploration (Canada)		0		797,647
Kirkland Lake Gold (Canada)		1,900,000		4,900,000
Real Goods Solar		2,000,000		2,600,000
SM Energy		940,000		1,120,000
Superior Energy Services		0		1,150,000
Other Industries
CDL Hospitality Trust (Singapore)		11,655,000		11,917,000
Coresite Realty		1,050,000		1,170,000
EdR		6,650,000		7,350,000
Extra Space Storage		1,850,000		2,100,000
Kirby		602,000		846,000
Post Properties		1,435,000		1,760,000
St. Joe		1,500,000		1,800,000
Terreno Realty		1,050,000		1,550,000

	Number of Shares
	6/30/13		9/30/13
Sales
Information
Bally Technologies		3,725,000		3,537,000
ChannelAdvisor		229,059		0
Cree		720,000		469,000
Crown Castle International		4,000,000		3,800,000
DemandWare		1,310,000		1,100,000
Discovery Series C		720,000		400,000
Entegris		2,545,680		0
Far EasTone Telecom (Taiwan)		13,200,000		9,662,000
Hexagon (Sweden)		4,862,000		4,162,000
IPG Photonics		2,286,000		1,620,000
IXYS		587,529		0
Semtech		650,000		360,000
Velti		3,700,000		0
Industrial Goods & Services
Albemarle		1,250,000		0
Ashland		550,000		0
Chicago Bridge & Iron		2,850,000		2,680,000
GP Strategies		600,000		0
Imtech (Netherlands)		1,948,368		0
Mills Estruturas e Servicos de Engenharia (Brazil)		1,800,000		0
Oshkosh Corporation		2,400,000		2,185,000
Polypore International		1,225,000		1,000,000
RockTenn		300,000		0
Silgan Holdings		200,000		0
TrueBlue		1,000,000		70,313
Waste Connections		2,050,000		1,500,000
Consumer Goods & Services
Abercrombie & Fitch		1,816,000		725,000
American Eagle Outfitters		1,925,000		0
Arcos Dorados (Brazil)		1,800,000		0
Bon-Ton Stores		300,000		0
Bravo Brio Restaurant Group		675,000		0
Churchill Downs		28,508		0
Deckers Outdoor		810,000		710,000
Helen of Troy		1,233,851		1,170,000
Herman Miller		2,250,000		1,765,000
lululemon athletica		1,730,000		0
Move		1,062,500		0
Pinnacle Entertainment		1,947,000		0
Ryman Hospitality Properties		2,707,000		2,030,000
Saks		3,700,000		0
United Stationers		625,000		0

	Number of Shares
	6/30/13		9/30/13
Finance
H & E Equipment Services		3,422,749		3,382,621
Kennedy-Wilson Holdings		380,446		0
Provident New York Bancorp		505,000		0
Textainer Group Holdings		228,500		0
Tower Group		3,738,900		0
TriCo Bancshares		1,314,800		0
ViewPoint Financial		470,000		0
World Acceptance		1,050,000		945,000
Heath Care
BioMarin Pharmaceutical		2,230,000		1,954,268
Haemonetics		1,100,000		429,290
MicroDose Therapeutx		359,944		0
Onyx Pharmaceuticals		870,000		0
Seattle Genetics		6,050,000		5,590,000
Energy & Minerals
Augusta Resource		800,000		0
Crew Energy (Canada)		493,000		0
Pacific Rubiales Energy (Colombia)		2,700,000		2,160,000
Silver Wheaton (Canada)		700,000		0
Other Industries
Biomed Realty Trust		2,450,000		1,900,000
Digital Realty Trust		230,000		0
World Fuel Services		750,000		0

Columbia Acorn Fund

Statement of Investments (Unaudited), September 30, 2013

Number of Shares			Value
			Equities: 97.0%
Information 27.3%
		> Business Software 6.5%
	2,350,000	Ansys (a)	$	203,322,000
		Simulation Software for Engineers & Designers
	4,500,000	Informatica (a)		175,365,000
		Enterprise Data Integration Software
	2,700,000	Micros Systems (a)		134,838,000
		Information Systems for Hotels, Restaurants & Retailers
	4,162,000	Hexagon (Sweden)		125,506,963
		Design, Measurement & Visualization Software & Equipment
	700,000	Concur Technologies (a)		77,350,000
		Web Enabled Cost & Expense Management Software
	800,000	Tyler Technologies (a)		69,976,000
		Financial, Tax, Court & Document Management Systems for Local Governments
	900,000	SPS Commerce (a)(b)		60,228,000
		Supply Chain Management Software Delivered Via the Web
	550,000	NetSuite (a)		59,367,000
		End-to-end IT Systems Solution Delivered Over the Web
	1,100,000	DemandWare (a)		50,963,000
		E-Commerce Website Solution for Retailers & Apparel Manufacturers
	2,000,000	RealPage (a)		46,320,000
		Software for Managing Rental Properties Delivered Via the Web
	1,725,971	Tangoe (a)		41,181,668
		Software Solution for Managing Communication Expense & Devices
	750,000	Jack Henry & Associates		38,707,500
		IT Systems & Outsourced IT Solutions for Financial Institutions
	697,000	Solera Holdings		36,850,390
		Software for Automotive Insurance Claims Processing
	900,000	Blackbaud		35,136,000
		Software & Services for Non-profits
	700,000	Red Hat (a)		32,298,000
		Maintenance & Support for Opensource Operating System & Middleware
	1,200,000	Constant Contact (a)		28,428,000
		Email & Other Marketing Campaign Management Systems Delivered Over Web
	3,200,000	InContact (a)(b)		26,464,000
		Call Center Systems Delivered Via the Web & Telco Services
	801,748	Webgroup.com (a)		25,928,531
		Website Creation & Management for Small Businesses
	610,000	Envestnet (a)		18,910,000
		Technology Platform for Investment Advisors
	1,000,000	Exa (a)(b)		15,490,000
		Simulation Software
	1,700,000	Bazaarvoice (a)(c)		15,436,000
		Platform for Managing Consumer Interaction Via the Web

Number of Shares			Value
	610,000	E2Open (a)(c)	$	13,664,000
		Supply Chain Management Software & Supplier/Partner Network
				1,331,730,052
		> Mobile Communications 2.9%
	3,800,000	Crown Castle International (a)		277,514,000
		Communications Towers
	3,400,000	SBA Communications (a)		273,564,000
		Communications Towers
	22,100,000	Globalstar (a)(b)(c)		24,089,000
		Satellite Mobile Voice & Data Carrier
	9,662,000	Far EasTone Telecom (Taiwan)		24,072,658
		Taiwan's Third Largest Mobile Operator
				599,239,658
		> Instrumentation 2.9%
	1,600,000	Mettler-Toledo International (a)(b)		384,144,000
		Laboratory Equipment
	4,070,000	Trimble Navigation (a)		120,919,700
		GPS-based Instruments
	1,620,000	IPG Photonics (c)		91,222,200
		Fiber Lasers
				596,285,900
		> Computer Hardware & Related Equipment 2.6%
	3,415,000	Amphenol		264,252,700
		Electronic Connectors
	4,550,000	II-VI (a)(b)		85,631,000
		Laser Optics & Specialty Materials
	1,365,000	Zebra Technologies (a)		62,148,450
		Bar Code Printers
	310,000	Stratasys (a)(c)		31,390,600
		Rapid Prototyping & Direct Digital Manufacturing Systems
	280,000	Gemalto (France)		30,065,207
		Digital Security Solutions
	900,000	Netgear (a)		27,774,000
		Networking Products for Small Business & Home
	400,000	Rogers (a)		23,792,000
		Printed Circuit Materials & High-performance Foams
				525,053,957
		> Telephone & Data Services 2.1%
	9,500,000	tw telecom (a)(b)		283,717,500
		Fiber Optic Telephone/Data Services
	2,200,000	Cogent Communications		70,950,000
		Internet Data Pipelines
	3,500,000	Windstream (c)		28,000,000
		Business & Rural Telecom Services
	2,271,214	Boingo Wireless (a)(b)		15,898,498
		Wholesale & Retail Wi-Fi Networks
	1,500,000	General Communications (a)		14,280,000
		Commercial Communication & Consumer CATV, Web & Phone in Alaska
	3,000,000	Towerstream (a)(c)		8,580,000
		High Speed Wireless, Rooftop Antenna Space & Wi-Fi Offload
				421,425,998

Number of Shares			Value
		> Computer Services 2.0%
	4,500,000	iGATE (a)(b)	$	124,920,000
		IT & Business Process Outsourcing Services
	3,419,000	Genpact (a)		64,550,720
		Business Process Outsourcing
	2,125,000	Virtusa (a)(b)		61,752,500
		Offshore IT Outsourcing
	1,618,000	ExlService Holdings (a)		46,080,640
		Business Process Outsourcing
	2,000,000	WNS - ADR (India) (a)		42,440,000
		Offshore Business Process Outsourcing Services
	430,000	Syntel		34,443,000
		Offshore IT Services
	3,849,207	Hackett Group (b)		27,444,846
		IT Integration & Best Practice Research
	1,100,000	Telecity (United Kingdom)		14,780,566
		European Data Center Provider
				416,412,272
		> Internet Related 1.3%
	1,325,000	TripAdvisor (a)		100,488,000
		Online Travel Research
	2,555,000	Pandora Media (a)(c)		64,207,150
		Streaming Music
	1,344,707	RetailMeNot (a)		47,831,228
		Digital Coupon Marketplace
	175,000	Equinix (a)		32,138,750
		Network Neutral Data Centers
	727,000	Yandex (Russia) (a)		26,477,340
		Search Engine for Russian & Turkish Languages
				271,142,468
		> Gaming Equipment & Services 1.3%
	3,537,000	Bally Technologies (a)(b)		254,876,220
		Slot Machines & Software
		> Business Information & Marketing Services 1.2%
	1,900,000	Verisk Analytics (a)		123,424,000
		Risk & Decision Analytics
	4,025,000	Navigant Consulting (a)(b)		62,226,500
		Financial Consulting Firm
	2,561,123	RPX (a)		44,896,486
		Patent Aggregation & Defensive Patent Consulting
	200,000	Bankrate (a)		4,114,000
		Internet Advertising for the Insurance, Credit Card & Banking Markets
				234,660,986
		> Semiconductors & Related Equipment 1.0%
	5,390,000	Atmel (a)		40,101,600
		Microcontrollers, Radio Frequency & Memory Semiconductors
	1,240,000	Monolithic Power Systems		37,547,200
		High Performance Analog & Mixed Signal Integrated Circuits
	420,000	Littelfuse		32,852,400
		Little Fuses

Number of Shares			Value
	469,000	Cree (a)	$	28,229,110
		LED Lighting, Components & Chips
	400,000	Hittite Microwave (a)		26,140,000
		Radio Frequency, Microwave & Millimeterwave Semiconductors
	615,000	Ultratech (a)		18,634,500
		Semiconductor Equipment
	2,430,000	ON Semiconductor (a)		17,739,000
		Mixed Signal & Power Management Semiconductors
	360,000	Semtech (a)		10,796,400
		Analog Semiconductors
				212,040,210
		> Telecommunications Equipment 0.8%
	640,000	F5 Networks (a)		54,886,400
		Internet Traffic Management Equipment
	2,025,000	Finisar (a)		45,825,750
		Optical Subsystems & Components
	2,030,000	Ixia (a)		31,810,100
		Telecom Network Test Equipment
	1,925,000	Infinera (a)		21,771,750
		Optical Networking Equipment
	910,000	CalAmp (a)		16,043,300
		Machine-to-machine Communications
				170,337,300
		> Financial Processors 0.7%
	1,700,000	Global Payments		86,836,000
		Credit Card Processor
	900,000	Liquidity Services (a)(c)		30,204,000
		E-Auctions for Surplus & Salvage Goods
	5,000,000	Singapore Exchange (Singapore)		28,962,413
		Singapore Equity & Derivatives Market Operator
				146,002,413
		> Electronics Distribution 0.6%
	3,125,000	Avnet		130,343,750
		Electronic Components Distribution
		> Contract Manufacturing 0.5%
	3,800,000	Sanmina-SCI (a)		66,462,000
		Electronic Manufacturing Services
	960,000	Plexus (a)		35,712,000
		Electronic Manufacturing Services
				102,174,000
		> CATV 0.5%
	800,000	Liberty Global Series A (a)		63,480,000
		Cable TV Franchises Outside the U.S.
	400,000	Discovery Series C (a)		31,248,000
		Cable TV Programming
				94,728,000
		> Advertising 0.2%
	1,000,000	Lamar Advertising (a)		47,030,000
		Outdoor Advertising
	100,000	Tree.com		2,626,000
		Internet Advertising for Mortgage, Education & Auto Markets
				49,656,000

Columbia Acorn Fund

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Entertainment Programming 0.2%
	1,100,000	IMAX (Canada) (a)(c)	$	33,264,000
		IMAX Movies, Theatre Equipment & Theatre Joint Ventures
Information: Total				5,589,373,184
Industrial Goods & Services 20.6%
		> Machinery 12.2%
	9,900,000	Ametek		455,598,000
		Aerospace/Industrial Instruments
	8,400,000	Donaldson (b)		320,292,000
		Industrial Air Filtration
	3,400,000	Nordson (b)		250,342,000
		Dispensing Systems for Adhesives & Coatings
	3,230,000	Moog (a)(b)		189,504,100
		Motion Control Products for Aerospace, Defense & Industrial Markets
	3,725,000	Kennametal		169,860,000
		Consumable Cutting Tools
	3,063,000	HEICO (b)		153,578,820
		FAA Approved Aircraft Replacement Parts
	3,200,000	Generac		136,448,000
		Standby Power Generators
	1,660,000	Pall		127,886,400
		Life Science, Water & Industrial Filtration
	2,185,000	Oshkosh Corporation (a)		107,021,300
		Specialty Truck Manufacturer
	1,610,000	Toro		87,503,500
		Turf Maintenance Equipment
	1,570,000	Clarcor		87,182,100
		Mobile Equipment & Industrial Filters
	2,300,000	ESCO Technologies (b)		76,429,000
		Automatic Electric Meter Readers
	1,200,000	Wabtec		75,444,000
		Freight & Transit Component Supplier
	750,000	WABCO Holdings (a)		63,195,000
		Truck & Bus Component Supplier
	435,000	Valmont Industries		60,425,850
		Center Pivot Irrigation Systems & Utility Poles
	247,000	Middleby (a)		51,600,770
		Manufacturer of Cooking Equipment
	600,000	Neopost (France) (c)		43,694,364
		Postage Meter Machines
	1,000,000	Polypore International (a)(c)		40,970,000
		Battery Separators & Filtration Media
	10,000,000	Marel (Iceland)		10,633,879
		Largest Manufacturer of Poultry & Fish Processing Equipment
				2,507,609,083
		> Other Industrial Services 1.8%
	2,700,000	LKQ (a)		86,022,000
		Alternative Auto Parts Distribution
	1,800,000	Expeditors International of Washington		79,308,000
		International Freight Forwarder

Number of Shares			Value
	1,500,000	Forward Air	$	60,525,000
		Freight Transportation Between Airports
	1,600,000	Mobile Mini (a)		54,496,000
		Portable Storage Units Leasing
	1,375,000	KAR Auction Services		38,788,750
		Auto Auctions
	2,400,000	CAE (Canada) (c)		26,282,220
		Flight Simulator Equipment & Training Centers
	700,000	Echo Global Logistics (a)		14,658,000
		Third Party Logistics
	1,520,957	Acorn Energy (b)(c)		8,973,646
		Fiber Optic Oil Well Monitoring & Evaluation
	70,313	TrueBlue (a)		1,688,215
		Temporary Industrial Labor
				370,741,831
		> Construction 1.5%
	2,680,000	Chicago Bridge & Iron		181,623,600
		Engineering & Construction for Liquefied Natural Gas & Petrochemicals
	99,000	NVR (a)		90,999,810
		Homebuilder
	930,000	Fortune Brands Home & Security		38,715,900
		Home Building Supplies & Small Locks
				311,339,310
		> Industrial Materials & Specialty Chemicals 1.5%
	1,880,000	Drew Industries (b)		85,615,200
		RV & Manufactured Home Components
	1,050,000	FMC Corporation		75,306,000
		Niche Specialty Chemicals
	1,288,000	Novozymes (Denmark)		49,271,589
		Industrial Enzymes
	1,200,000	Polyone		36,852,000
		Intermediate Stage Chemicals Producer
	2,218,700	Kansai Paint (Japan)		29,484,776
		Paint Producer in Japan, India, China & Southeast Asia
	673,000	Sociedad Quimica y Minera de Chile - ADR (Chile)		20,560,150
		Producer of Specialty Fertilizers, Lithium & Iodine
	400,000	Owens-Illinois (a)		12,008,000
		Glass Packaging for Food & Beverages
				309,097,715
		> Industrial Distribution 1.2%
	1,620,000	WESCO International (a)		123,978,600
		Industrial Distributor
	2,320,000	MRC Global (a)		62,176,000
		Industrial Distributor
	405,841	Airgas		43,039,438
		Industrial Gas Distributor
	965,000	Titan Machinery (a)(c)		15,507,550
		Agriculture & Construction Dealerships
				244,701,588

Number of Shares			Value
		> Electrical Components 1.0%
	1,765,000	Acuity Brands	$	162,415,300
		Commercial Lighting Fixtures
	1,065,000	Thermon (a)		24,612,150
		Global Engineered Thermal Solutions
	1,500,000	Ushio (Japan)		18,681,853
		Industrial Light Sources
				205,709,303
		> Outsourcing Services 0.7%
	3,000,000	Quanta Services (a)		82,530,000
		Electrical & Telecom Construction Services
	1,400,000	Insperity (b)		52,640,000
		Professional Employer Organization
				135,170,000
		> Conglomerates 0.4%
	2,747,253	Aalberts Industries (Netherlands)		73,198,880
		Flow Control & Heat Treatment
		> Waste Management 0.3%
	1,500,000	Waste Connections		68,115,000
		Solid Waste Management
Industrial Goods & Services: Total				4,225,682,710
Consumer Goods & Services 15.2%
		> Retail 4.5%
	1,385,000	ULTA (a)		165,452,100
		Specialty Beauty Product Retailer
	7,185,000	Pier 1 Imports (b)		140,251,200
		Home Furnishing Retailer
	1,975,000	Shutterfly (a)(b)		110,363,000
		Internet Photo-centric Retailer
	822,845	Fossil (a)		95,647,503
		Watch Designer & Retailer
	1,675,000	Williams-Sonoma		94,135,000
		Home Goods & Furnishing Retailer
	754,000	Casey's General Stores		55,419,000
		Owner/Operator of Convenience Stores
	525,000	DSW		44,793,000
		Branded Footwear Retailer
	865,000	GameStop		42,947,250
		Video Game Specialty Retailer
	1,000,000	Urban Outfitters (a)		36,770,000
		Multi-channel Apparel & Accessory Retailer
	474,000	Restoration Hardware Holdings (a)		30,027,900
		Specialty Home Furnishing Retailer
	725,000	Abercrombie & Fitch		25,643,250
		Teen Apparel Retailer
	1,000,000	Fifth & Pacific Companies (a)		25,130,000
		Global Lifestyle Brand
	450,000	Five Below (a)		19,687,500
		Specialty Retailer Targeting Pre-teen & Teen
	546,000	Tile Shop Holdings (a)		16,101,540
		Specialty Retailer of Tiles & Related Accessories

Number of Shares			Value
	852,000	Massmart Holdings (South Africa)	$	14,266,402
		General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary
	1,371,366	Gaiam (a)(b)		6,870,543
		Healthy Living Catalogs & E-Commerce, Non-theatrical Media
				923,505,188
		> Travel 3.0%
	4,400,000	Avis Budget Group (a)		126,852,000
		Second Largest Car Rental Company
	4,600,000	Hertz (a)		101,936,000
		Largest U.S. Rental Car Operator
	1,430,000	Vail Resorts		99,213,400
		Ski Resort Operator & Developer
	1,893,000	Choice Hotels		81,758,670
		Franchisor of Budget Hotel Brands
	2,030,000	Ryman Hospitality Properties (c)		70,055,300
		Convention Hotels
	1,100,000	Expedia		56,969,000
		Online Travel Services Company
	1,600,000	HomeAway (a)		44,800,000
		Vacation Rental Online Marketplace
	2,100,000	Localiza Rent A Car (Brazil)		31,457,835
		Car Rental
				613,042,205
		> Consumer Goods Distribution 1.2%
	2,305,000	GNC Holdings		125,922,150
		Specialty Retailer of Health & Wellness Products
	2,015,000	Pool		113,101,950
		Swimming Pool Supplies & Equipment Distributor
	250,000	United Natural Foods (a)		16,805,000
		Natural/Organic Food Distributor
				255,829,100
		> Casinos & Gaming 1.2%
	2,500,000	Melco Crown Entertainment - ADR (Hong Kong) (a)		79,575,000
		Macau Casino Operator
	20,000,000	Melco International (Hong Kong)		53,751,121
		Macau Casino Operator
	850,000	Penn National Gaming (a)		47,056,000
		Regional Casino Operator
	12,000,000	MGM China Holdings (Hong Kong)		39,910,949
		Macau Casino Operator
	40,000,000	Nagacorp (Cambodia)		33,748,852
		Casino/Entertainment Complex in Cambodia
				254,041,922
		> Apparel 1.2%
	1,296,000	PVH		153,822,240
		Apparel Wholesaler & Retailer
	710,000	Deckers Outdoor (a)		46,803,200
		Fashion Footwear Wholesaler
	600,000	Steven Madden (a)		32,298,000
		Wholesaler/Retailer of Fashion Footwear

Columbia Acorn Fund

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Apparel—continued
	2,620,000	Quiksilver (a)	$	18,418,600
		Action Sports Lifestyle Branded Apparel & Footwear
				251,342,040
		> Furniture & Textiles 1.0%
	3,669,000	Knoll (b)		62,152,860
		Office Furniture
	1,765,000	Herman Miller		51,502,700
		Office Furniture
	2,325,000	Interface		46,128,000
		Modular Carpet
	812,360	Caesarstone (Israel) (a)		37,108,605
		Quartz Countertops
				196,892,165
		> Restaurants 0.9%
	2,000,000	AFC Enterprises (a)(b)		87,180,000
		Popeye's Restaurants
	968,000	Domino's Pizza		65,775,600
		Franchisor of Pizza Restaurants
	625,000	Fiesta Restaurant Group (a)		23,537,500
		Owns/Operates Two Restaurant Chains: Pollo Tropical & Taco Cabana
				176,493,100
		> Other Consumer Services 0.8%
	2,280,000	Lifetime Fitness (a)(b)		117,351,600
		Sport & Fitness Club Operator
	17,000,000	Lifestyle International (Hong Kong)		36,176,179
		Mid to High-end Department Store Operator in Hong Kong & China
	800,000	Blackhawk Network (a)(b)		19,224,000
		Third Party Distributer of Prepaid Content, Mostly Gift Cards
	450,000	IFM Investments (Century 21 China RE) - ADR (China) (a)		810,000
		Real Estate Services in China
				173,561,779
		> Food & Beverage 0.5%
	2,886,552	Boulder Brands (a)		46,300,294
		Healthy Food Products
	1,325,000	B&G Foods		45,778,750
		Acquirer of Small Food Brands
	1,665,270	GLG Life Tech (Canada) (a)(b)		1,358,019
		Produce an All-natural Sweetener Extracted from the Stevia Plant
				93,437,063
		> Other Durable Goods 0.4%
	1,100,000	Select Comfort (a)		26,785,000
		Specialty Mattresses
	460,000	Cavco Industries (a)(b)		26,197,000
		Manufactured Homes
	472,500	Jarden (a)		22,869,000
		Branded Household Products
				75,851,000
		> Educational Services 0.3%
	1,300,000	DeVry		39,728,000
		Post-secondary Degree Services

Number of Shares			Value
	500,000	ITT Educational Services (a)(c)	$	15,500,000
		Post-secondary Degree Services
				55,228,000
		> Nondurables 0.2%
	1,170,000	Helen of Troy (a)		51,714,000
		Personal Care, Housewares, Healthcare & Home Environment Products
Consumer Goods & Services: Total				3,120,937,562
Finance 11.0%
		> Banks 4.0%
	2,638,000	BOK Financial		167,117,300
		Tulsa-based Southwest Bank
	9,000,000	Associated Banc-Corp (b)		139,410,000
		Midwest Bank
	1,348,000	City National		89,857,680
		Bank & Asset Manager
	985,000	SVB Financial Group (a)		85,074,450
		Bank to Venture Capitalists
	2,860,000	MB Financial (b)		80,766,400
		Chicago Bank
	1,900,000	Hancock Holding		59,622,000
		Gulf Coast Bank
	5,323,500	Valley National Bancorp (c)		52,968,825
		New Jersey/New York Bank
	2,200,000	TCF Financial		31,416,000
		Great Lakes Bank
	1,162,000	Sandy Spring Bancorp		27,028,120
		Baltimore & Washington, D.C. Bank
	4,841,882	First Busey (b)		25,226,205
		Illinois Bank
	2,500,000	First Commonwealth		18,975,000
		Western Pennsylvania Bank
	811,295	Hudson Valley		15,236,120
		Metro New York City Bank
	900,000	OFG Bancorp		14,571,000
		Puerto Rican Bank
	2,136,500	TrustCo Bank		12,733,540
		New York State Bank
				820,002,640
		> Insurance 2.4%
	8,900,000	CNO Financial Group		128,160,000
		Life, Long-term Care & Medical Supplement Insurance
	833,000	Allied World Holdings		82,791,870
		Commercial Lines Insurance/Reinsurance
	2,625,000	Selective Insurance Group		64,312,500
		Commercial & Personal Lines Insurance
	1,100,000	HCC Insurance Holdings		48,202,000
		Specialty Insurance
	1,500,000	Brown & Brown		48,150,000
		Insurance Broker
	400,000	RLI		34,968,000
		Specialty Insurance
	250,000	Enstar Group (a)		34,150,000
		Insurance/Reinsurance & Related Services

Number of Shares			Value
		> Insurance—continued
	10,837,000	Rand Merchant Insurance (South Africa)	$	28,883,556
		Directly Sold Property & Casualty Insurance; Holdings in Other Insurers
	500,000	The Hanover Insurance Group		27,660,000
		Commercial & Personal Lines Insurance
				497,277,926
		> Brokerage & Money Management 1.7%
	7,275,000	SEI Investments		224,870,250
		Mutual Fund Administration & Investment Management
	3,052,000	Eaton Vance		118,509,160
		Specialty Mutual Funds
				343,379,410
		> Finance Companies 1.7%
	3,382,621	H & E Equipment Services (a)(b)		89,842,414
		Heavy Equipment Leasing
	945,000	World Acceptance (a)(b)(c)		84,974,400
		Personal Loans
	2,150,000	McGrath Rentcorp (b)		76,755,000
		Temporary Space & IT Rentals
	1,500,000	CAI International (a)(b)		34,905,000
		International Container Leasing
	1,091,000	Marlin Business Services (b)		27,231,360
		Small Equipment Leasing
	450,000	Onex Capital (Canada)		23,634,775
		Private Equity
	100,000	Green Dot (a)		2,633,000
		Provider of Reloadable Prepaid Debt Cards & Online Banking
				339,975,949
		> Credit Cards 0.8%
	550,000	Alliance Data Systems (a)		116,308,500
		Diversified Credit Card Provider
	500,000	WEX (a)		43,875,000
		Pay Card Processor
				160,183,500
		> Diversified Financial Companies 0.4%
	2,820,000	Leucadia National		76,816,800
		Holding Company
		> Savings & Loans —%
	452,146	Simplicity Bancorp (b)		7,030,870
		Los Angeles Savings & Loan
Finance: Total				2,244,667,095
Health Care 9.5%
		> Biotechnology & Drug Delivery 4.3%
	5,590,000	Seattle Genetics (a)		245,009,700
		Antibody-based Therapies for Cancer
	2,392,000	Synageva Biopharma (a)(b)		151,437,520
		Biotech Focused on Orphan Diseases
	1,954,268	BioMarin Pharmaceutical (a)		141,137,235
		Biotech Focused on Orphan Diseases
	3,283,000	NPS Pharmaceuticals (a)		104,432,230
		Orphan Drugs & Healthy Royalties
	4,000,000	ARIAD Pharmaceuticals (a)		73,600,000
		Biotech Focused on Cancer

Number of Shares			Value
	908,681	Alnylam Pharmaceuticals (a)	$	58,164,671
		Biotech Developing Drugs for Rare Diseases
	1,040,000	Sarepta Therapeutics (a)(c)		49,119,200
		Biotech Focused on Rare Diseases
	2,025,000	InterMune (a)		31,124,250
		Drugs for Pulmonary Fibrosis & Hepatitis C
	3,610,890	Ultragenyx (a)(d)(e)		14,371,342
		Biotech Focused on "Ultra-Orphan" Drugs
	1,370,000	Coronado Biosciences (a)(c)		9,617,400
		Development-stage Biotech
	187,909	Ophthotech (a)		5,582,776
		Biotech Focused on Ophthalmic Drugs
				883,596,324
		> Medical Supplies 2.1%
	6,170,000	Cepheid (a)(b)		240,876,800
		Molecular Diagnostics
	950,000	Henry Schein (a)		98,515,000
		Largest Distributor of Healthcare Products
	1,676,000	Patterson Companies		67,375,200
		Dental/Vet/Med Distributor
	383,212	Techne		30,679,953
		Cytokines, Antibodies & Other Reagents for Life Science
				437,446,953
		> Health Care Services 1.6%
	9,905,000	Allscripts Healthcare Solutions (a)(b)		147,287,350
		Health Care IT
	2,650,000	HealthSouth		91,372,000
		Inpatient Rehabilitation Facilities
	665,000	Mednax (a)		66,766,000
		Physician Management for Pediatric & Anesthesia Practices
	1,004,000	Envision Healthcare Holdings (a)		26,134,120
		Provider of Health Care Outsourcing Services
				331,559,470
		> Medical Equipment & Devices 0.8%
	1,550,000	Sirona Dental Systems (a)		103,741,500
		Manufacturer of Dental Equipment
	925,000	PerkinElmer		34,918,750
		Analytical Instruments for Life Sciences
	429,290	Haemonetics (a)		17,120,085
		Blood & Plasma Collection Equipment
				155,780,335
		> Pharmaceuticals 0.7%
	6,312,644	Akorn (a)(b)		124,232,834
		Develops, Manufactures & Sells Specialty Generic Drugs
	2,040,000	Alimera Sciences (a)(b)(c)		7,670,400
		Ophthalmology-focused Pharmaceutical Company
				131,903,234
Health Care: Total				1,940,286,316
Energy & Minerals 7.1%
		> Oil Services 3.6%
	4,635,000	FMC Technologies (a)		256,871,700
		Oil & Gas Well Head Manufacturer

Columbia Acorn Fund

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Oil Services—continued
	2,400,000	Atwood Oceanics (a)	$	132,096,000
		Offshore Drilling Contractor
	1,031,106	Fugro (Netherlands)		62,897,494
		Subsea Oilfield Services
	1,334,000	ShawCor (Canada)		56,258,395
		Oil & Gas Pipeline Products
	661,000	Hornbeck Offshore (a)		37,967,840
		Supply Vessel Operator in U.S. Gulf of Mexico
	1,008,000	Rowan (a)		37,013,760
		Contract Offshore Driller
	268,000	Chart Industries (a)		32,974,720
		Manufacturer of Natural Gas Processing/Storage Equipment
	1,150,000	Superior Energy Services (a)		28,796,000
		Diversified Oil Service Provider
	511,000	Gulfmark Offshore		26,004,790
		Operator of Offshore Supply Vessels
	400,000	Dresser-Rand Group (a)		24,960,000
		Manufactures & Services Compressors
	2,601,900	Horizon North Logistics (Canada) (c)		18,338,716
		Provides Diversified Oil Service Offering in Northern Canada
	596,600	Black Diamond Group (Canada) (c)		14,259,785
		Provides Accommodations/Equipment for Oil Sands Development
	16,500	Frank's International (Netherlands) (a)		493,845
		Global Provider of Casing Running Services Post Drilling of Wells
				728,933,045
		> Oil & Gas Producers 2.5%
	1,120,000	SM Energy		86,452,800
		Oil & Gas Producer
	1,153,600	Rosetta Resources (a)		62,825,056
		Oil & Gas Producer Exploring in Texas
	695,000	Range Resources		52,743,550
		Oil & Gas Producer
	2,160,000	Pacific Rubiales Energy (Colombia)		42,652,687
		Oil Production & Exploration in Colombia
	1,550,834	Bill Barrett Corporation (a)(c)		38,941,442
		Oil & Gas Producer in U.S. Rockies
	1,159,000	Laredo Petroleum (a)		34,399,120
		Permian Basin Oil Producer
	886,000	Cabot Oil and Gas		33,065,520
		Large Natural Gas Producer in Appalachia & Gulf Coast
	743,000	Baytex (Canada) (c)		30,663,492
		Oil & Gas Producer in Canada
	1,477,000	Denbury Resources (a)		27,191,570
		Oil Producer Using Co2 Injection
	3,095,000	Athabasca Oil Sands (Canada) (a)		23,586,962
		Oil Sands & Unconventional Oil Development
	340,000	PDC Energy (a)		20,243,600
		Oil & Gas Producer in U.S.

Number of Shares			Value
	850,000	Tullow Oil (United Kingdom)	$	14,090,914
		Oil & Gas Producer
	27,000,000	Shamaran Petroleum (Iraq) (a)		10,091,743
		Oil Exploration & Production in Kurdistan
	797,647	DeeThree Exploration (Canada) (a)		7,077,805
		Canadian Oil & Gas Producer
	181,160	Carrizo Oil & Gas (a)		6,759,080
		Oil & Gas Producer
	20,000,000	Petroamerica Oil (Colombia) (a)		6,310,373
		Oil Exploration & Production in Colombia
	11,000,000	Canadian Overseas Petroleum (United Kingdom) (a)		3,363,914
	8,400,000	Canadian Overseas Petroleum (United Kingdom) (a)(d)		2,440,367
	4,200,000	Canadian Overseas Petroleum - Warrants (United Kingdom) (a)(d)(e)		4,188
		Oil & Gas Exploration/Production in the North Sea
	37,500,000	Petromanas (Canada) (a)(b)		4,914,810
		Exploring for Oil in Albania
	1,198,100	Pan Orient (Canada) (a)		2,407,715
		Growth-oriented, Return-focused Asian Explorer
	511,600	Canacol (Colombia) (a)		2,190,336
		Oil Producer in South America
	26,000,000	Petrodorado Energy (Colombia) (a)(b)		1,009,660
		Oil & Gas Exploration & Production in Colombia, Peru & Paraguay
	61,091	Matador Resources (a)		997,616
		Oil & Gas Producer in Texas & Louisiana
	50,000,000	Gulf United Energy (Colombia) (a)(b)		115,000
		Prospecting for Oil Alongside Large Producers in Colombia
	4,110,000	Santa Maria Petroleum (Colombia) (a)(b)(d)		44,889
		Explores for Oil & Gas in Latin America
	890,000	Santa Maria Petroleum (Colombia) (a)(b)		12,960
		Explores for Oil & Gas in Latin America
				514,597,169
		> Mining 0.8%
	387,000	Core Labs (Netherlands)		65,484,270
		Oil & Gas Reservoir Consulting
	1,600,000	Alamos Gold (Canada)		24,853,162
	500,000	Alamos Gold (Canada) (f)		7,765,000
		Gold Mining
	6,044,000	Northam Platinum (South Africa) (a)		25,523,827
		Platinum Mining in South Africa
	4,900,000	Kirkland Lake Gold (Canada) (a)(b)		16,506,966
		Gold Mining
	7,500,000	Duluth Metals (Canada) (a)(b)		8,591,816
		Copper & Nickel Miner
	2,000,000	Allied Nevada Gold (a)(c)		8,360,000
		Gold & Silver Mining

Number of Shares			Value
		> Mining—continued
	1,150,000	Turquoise Hill Resources (Mongolia) (a)	$	5,079,850
		Copper Mine Project in Mongolia
	2,050,000	Alexco Resource (a)(c)		2,931,500
		Mining, Exploration & Environmental Services
	13,459,000	Mongolian Mining (Mongolia) (a)		2,413,867
		Coking Coal Mining in Mongolia
	3,000,000	Kaminak Gold (a)(c)		2,300,859
		Exploration Stage Canadian Gold Miner
				169,811,117
		> Alternative Energy 0.1%
	2,000,000	GT Advanced Technologies (a)(c)		17,020,000
		Largest Manufacturer of Furnaces & Reactors to Produce & Cast Polysilicon
	2,600,000	Real Goods Solar (a)(b)(c)		7,280,000
		Residential Solar Energy Installer
	1,210,300	Synthesis Energy Systems (China) (a)		898,043
		Owner/Operator of Gasification Plants
				25,198,043
		> Agricultural Commodities 0.1%
	1,306,818	Union Agriculture Group (Uruguay) (a)(d)(e)		14,009,089
		Farmland Operator in Uruguay
Energy & Minerals: Total				1,452,548,463
Other Industries 6.3%
		> Real Estate 4.2%
	2,100,000	Extra Space Storage		96,075,000
		Self Storage Facilities
	3,625,000	Dupont Fabros Technology (b)		93,416,250
		Data Centers
	1,760,000	Post Properties		79,235,200
		Multifamily Properties
	750,000	Federal Realty		76,087,500
		Shopping Centers
	7,350,000	EdR (b)		66,885,000
		Student Housing
	3,000,000	Associated Estates Realty (b)		44,730,000
		Multifamily Properties
	1,170,000	Coresite Realty (b)		39,709,800
		Data Centers
	1,900,000	Biomed Realty Trust		35,321,000
		Life Science-focused Office Buildings
	1,800,000	St. Joe (a)(c)		35,316,000
		Florida Panhandle Landowner
	17,000,000	Ascendas REIT (Singapore)		30,931,341
		Industrial Property Landlord
	325,000	Jones Lang LaSalle		28,372,500
		Real Estate Services
	33,000,000	Mapletree Logistics Trust (Singapore)		28,171,591
		Industrial Property Landlord
	1,550,000	Terreno Realty (b)		27,528,000
		Industrial Properties

Number of Shares			Value
	3,750,000	DCT Industrial Trust	$	26,962,500
		Industrial Properties
	2,850,000	Summit Hotel Properties		26,191,500
		Owner of Select Service Hotels
	1,300,000	Hudson Pacific Properties		25,285,000
		West Coast Office Buildings & Production Studios
	4,000,000	Kite Realty Group		23,720,000
		Community Shopping Centers
	20,000,000	Mapletree Commercial Trust (Singapore)		19,382,057
		Retail & Office Property Landlord
	14,000	Orix JREIT (Japan)		17,786,709
		Diversified REIT
	24,664,000	Mapletree Greater China Commercial Trust (Hong Kong) (a)		17,601,904
		Retail & Office Property Landlord
	950,000	American Residential Properties (a)		16,729,500
		Single-family Rental Properties
	11,917,000	CDL Hospitality Trust (Singapore)		15,469,160
		Hotel Owner/Operator
				870,907,512
		> Transportation 1.4%
	1,155,000	JB Hunt Transport Services		84,234,150
		Truck & Intermodal Carrier
	3,100,000	Rush Enterprises, Class A (a)(b)		82,181,000
		Truck Sales & Service
	846,000	Kirby (a)		73,221,300
		Largest Operator of U.S. (Jones Act) Liquid Tank Barges
	300,000	Genesee & Wyoming (a)		27,891,000
		Short-line Operator
	550,000	Rush Enterprises, Class B (a)(b)		12,523,500
		Truck Sales & Service
				280,050,950
		> Regulated Utilities 0.7%
	2,000,000	Northeast Utilities		82,500,000
		Regulated Electric Utility
	2,200,000	Pepco Holdings		40,612,000
		Regulated Utility
	700,000	Wisconsin Energy		28,266,000
		Wisconsin Utility
				151,378,000
Other Industries: Total				1,302,336,462
Total Equities: 97.0% (Cost: $10,592,648,676)				19,875,831,792	(g)

Columbia Acorn Fund

Statement of Investments (Unaudited), continued

Number of Shares			Value
Short-Term Investments 3.2%
	499,118,598	JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%)	$	499,118,593
	160,411,074	JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%)		160,411,074
Total Short-Term Investments: 3.2% (Cost: $659,529,667)				659,529,667
Securities Lending Collateral 2.0%
	399,899,875	Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (h)		399,899,875
Total Securities Lending Collateral: (Cost: $399,899,875)				399,899,875
Total Investments: 102.2% (Cost: $11,652,078,218)(i)				20,935,261,334	(j)
Obligation to Return Collateral for Securities Loaned: (2.0)%				(399,899,875	)
Cash and Other Assets Less Liabilities: (0.2)%				(51,483,264	)
Net Assets: 100.0%			$	20,483,878,195

ADR - American Depositary Receipts

REIT - Real Estate Investment Trust

> Notes to Statement of Investments

(a) Non-income producing security.

(b) An affiliated person of the Fund, as defined in the Investment Company Act of 1940, may include any company in which the Fund owns five percent or more of its outstanding voting shares. Holdings and transactions in these affiliated companies during the period ended September 30, 2013, are as follows:

Security	Balance of Shares Held 12/31/12		Purchases/ Additions		Sales/ Reductions		Balance of Shares Held 9/30/13		Value		Dividend
Mettler-Toledo International		1,600,000		-		-		1,600,000	$	384,144,000	$	-
Donaldson		8,400,000		-		-		8,400,000		320,292,000		3,024,000
tw telecom		9,500,000		-		-		9,500,000		283,717,500		-
Bally Technologies		3,725,000		-		188,000		3,537,000		254,876,220		-
Nordson		3,125,000		275,000		-		3,400,000		250,342,000		1,590,750
Seattle Genetics (1)		6,550,000		-		960,000		5,590,000		245,009,700		-
Cepheid		4,970,000		1,200,000		-		6,170,000		240,876,800		-
Moog		3,230,000		-		-		3,230,000		189,504,100		-
HEICO		3,063,000		-		-		3,063,000		153,578,820		214,410
Synageva Biopharma		1,165,000		1,227,000		-		2,392,000		151,437,520		-
Allscripts Healthcare Solutions		-		9,905,000		-		9,905,000		147,287,350		-
Pier 1 Imports		7,185,000		-		-		7,185,000		140,251,200		1,077,750
Associated Banc-Corp		7,756,800		1,243,200		-		9,000,000		139,410,000		2,058,544
iGATE		3,700,000		800,000		-		4,500,000		124,920,000		-
Akorn		4,000,000		2,312,644		-		6,312,644		124,232,834		-
Lifetime Fitness		2,280,000		-		-		2,280,000		117,351,600		-
Shutterfly		2,835,000		-		860,000		1,975,000		110,363,000		-
NPS Pharmaceuticals (1)		6,000,000		-		2,717,000		3,283,000		104,432,230		-
Rush Enterprises		3,650,000		-		-		3,650,000		94,704,500		-

> Notes to Statement of Investments

Security	Balance of Shares Held 12/31/12		Purchases/ Additions		Sales/ Reductions		Balance of Shares Held 9/30/13		Value		Dividend
Dupont Fabros Technology		3,625,000		-		-		3,625,000	$	93,416,250	$	1,631,250
IPG Photonics (1)		2,780,000		-		1,160,000		1,620,000		91,222,200		-
H & E Equipment Services		3,400,000		22,749		40,128		3,382,621		89,842,414		-
AFC Enterprises		2,000,000		-		-		2,000,000		87,180,000		-
II-VI		4,550,000		-		-		4,550,000		85,631,000		-
Drew Industries		1,880,000		-		-		1,880,000		85,615,200		-
World Acceptance		1,285,000		-		340,000		945,000		84,974,400		-
MB Financial		2,860,000		-		-		2,860,000		80,766,400		915,200
McGrath Rentcorp		2,150,000		-		-		2,150,000		76,755,000		1,537,250
ESCO Technologies		2,200,000		100,000		-		2,300,000		76,429,000		536,000
Ryman Hospitality Properties (1)		4,520,690		-		2,490,690		2,030,000		70,055,300		4,628,845
EdR		5,744,300		1,605,700		-		7,350,000		66,885,000		1,880,360
Navigant Consulting		3,704,600		320,400		-		4,025,000		62,226,500		-
Knoll		4,200,000		-		531,000		3,669,000		62,152,860		1,365,137
Virtusa		2,125,000		-		-		2,125,000		61,752,500		-
Forward Air (1)		1,500,000		-		-		1,500,000		60,525,000		450,000
SPS Commerce		900,000		-		-		900,000		60,228,000		-
Insperity		1,800,000		-		400,000		1,400,000		52,640,000		742,733
Helen of Troy (1)		1,600,000		-		430,000		1,170,000		51,714,000		-
ExlService Holdings (1)		1,618,000		-		-		1,618,000		46,080,640		-
Associated Estates Realty		3,000,000		-		-		3,000,000		44,730,000		1,710,000
Coresite Realty		-		1,170,000		-		1,170,000		39,709,800		666,436
CAI International		1,397,834		102,166		-		1,500,000		34,905,000		-
Terreno Realty		358,151		1,191,849		-		1,550,000		27,528,000		230,820
Hackett Group		3,849,207		-		-		3,849,207		27,444,846		-
Marlin Business Services		1,091,000		-		-		1,091,000		27,231,360		2,520,210
InContact		2,200,000		1,000,000				3,200,000		26,464,000		-
Cavco Industries		460,000		-		-		460,000		26,197,000		-
Summit Hotel Properties (1)		2,850,000		-		-		2,850,000		26,191,500		961,875
First Busey		4,299,507		542,375		-		4,841,882		25,226,205		353,400
Globalstar		1,200,000		21,189,746		289,746		22,100,000		24,089,000		-
Kite Realty Group (1)		4,000,000		-		-		4,000,000		23,720,000		720,000
Blackhawk Network		-		800,000		-		800,000		19,224,000		-
Kirkland Lake Gold		1,900,000		3,000,000		-		4,900,000		16,506,966		-
Boingo Wireless		1,900,000		371,214		-		2,271,214		15,898,498		-
Exa		872,060		127,940		-		1,000,000		15,490,000		-
Acorn Energy		1,512,352		8,605		-		1,520,957		8,973,646		52,932
Duluth Metals		7,500,000		-		-		7,500,000		8,591,816		-
Alimera Sciences		2,040,000		-		-		2,040,000		7,670,400		-
Real Goods Solar		-		2,600,000		-		2,600,000		7,280,000		-
Simplicity Bancorp		452,146		-		-		452,146		7,030,870		108,515
Gaiam		1,371,366		-		-		1,371,366		6,870,543		-
Petromanas		37,500,000		-		-		37,500,000		4,914,810		-
GLG Life Tech		1,665,270		-		-		1,665,270		1,358,019		-
Petrodorado Energy		26,000,000		-		-		26,000,000		1,009,660		-
Gulf United Energy		50,000,000		-		-		50,000,000		115,000		-
Santa Maria Petroleum		5,000,000		-		-		5,000,000		57,849		-
Chelsea Therapeutics International (1)		4,949,000		-		4,949,000		-		-		-
Pericom Semiconductor (1)		1,765,000		-		1,765,000		-		-		-
Pinnacle Entertainment (1)		3,950,000		-		3,950,000		-		-		-
Raptor Pharmaceutical (1)		3,000,000		-		3,000,000		-		-		-
Tower Group (1)(2)		3,300,000		438,900		3,738,900		-		-		1,840,746
TriCo Bancshares (1)		1,350,000		-		1,350,000		-		-		270,000
Wolverine Minerals (1)(2)		4,000,000		-		4,000,000		-		-		-
Total of Affiliated Transactions		321,910,283		51,554,488		33,159,464		340,305,307	$	5,497,251,826	$	31,087,163

(1) At September 30, 2013, the Fund owned less than five percent of the company's outstanding voting shares.

(2) Includes the effects of a stock split.

The aggregate cost and value of these companies at September 30, 2013, was $2,582,351,359 and $4,778,301,256, respectively. Investments in affiliated companies represented 23.33% of the Fund's total net assets at September 30, 2013.

Columbia Acorn Fund

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

(c) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $388,206,936.

(d) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At September 30, 2013, the market value of these securities amounted to $30,869,875, which represented 0.15% of total net assets. Additional information on these securities is as follows:

Security	Acquisition Dates	Shares/Units		Cost		Value
Ultragenyx	12/19/12		3,610,890	$	9,999,999	$	14,371,342
Union Agriculture Group	12/8/10-6/27/12		1,306,818		15,000,000		14,009,089
Canadian Overseas Petroleum	11/24/10		8,400,000		3,591,152		2,440,367
Santa Maria Petroleum	1/14/11		4,110,000		5,193,292		44,889
Canadian Overseas Petroleum - Warrants	11/24/10		4,200,000		525,688		4,188
				$	34,310,131	$	30,869,875

(e) Illiquid security.

(f) Security is traded on a U.S. exchange.

(g) On September 30, 2013, the market value of foreign securities represented 7.72% of total net assets. The Fund's foreign portfolio was diversified as follows:

Country	Value		Percentage of Net Assets
Canada	$	299,763,638		1.46
Hong Kong		227,015,153		1.11
Netherlands		202,074,489		0.99
Sweden		125,506,963		0.61
Singapore		122,916,563		0.60
France		73,759,571		0.36
South Africa		68,673,784		0.33
Japan		65,953,338		0.32
Colombia		52,335,905		0.26
Denmark		49,271,589		0.24
India		42,440,000		0.21
Israel		37,108,605		0.18
United Kingdom		34,679,949		0.17
Cambodia		33,748,852		0.16
Brazil		31,457,835		0.15
Russia		26,477,340		0.13
Taiwan		24,072,658		0.12
Chile		20,560,150		0.10
Uruguay		14,009,089		0.07
Iceland		10,633,879		0.05
Iraq		10,091,743		0.05
Mongolia		7,493,717		0.04
China		1,708,043		0.01
Total Foreign Portfolio	$	1,581,752,853		7.72

(h) Investment made with cash collateral received from securities lending activity.

(i) At September 30, 2013, for federal income tax purposes, the cost of investments was $11,652,078,218 and net unrealized appreciation was $9,283,183,116 consisting of gross unrealized appreciation of $9,585,831,787 and gross unrealized depreciation of $302,648,671.

(j) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

Various inputs are used in determining the value of the Fund's investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)

• Level 3 – prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including management's own assumptions about the factors market participants would use in pricing an investment)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

> Notes to Statement of Investments

Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Fund's Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.

Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.

The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trust's Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.

For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds' securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.

The following table summarizes the inputs used, as of September 30, 2013, in valuing the Fund's assets:

Investment Type	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equities
Information	$	5,365,985,377	$	223,387,807	$	-	$	5,589,373,184
Industrial Goods & Services		4,000,717,369		224,965,341		-		4,225,682,710
Consumer Goods & Services		2,943,084,059		177,853,503		-		3,120,937,562
Finance		2,215,783,539		28,883,556		-		2,244,667,095
Health Care		1,925,914,974		-		14,371,342		1,940,286,316
Energy & Minerals		1,331,123,828		107,415,546		14,009,089		1,452,548,463
Other Industries		1,172,993,700		129,342,762		-		1,302,336,462
Total Equities		18,955,602,846		891,848,515		28,380,431		19,875,831,792
Total Short-Term Investments		659,529,667		-		-		659,529,667
Total Securities Lending Collateral		399,899,875		-		-		399,899,875
Total Investments	$	20,015,032,388	$	891,848,515	$	28,380,431	$	20,935,261,334

The Fund's assets assigned to the Level 2 input category are generally valued using a market approach, in which a security's value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. Foreign equities are generally valued at the last sale price on the foreign exchange or market on which they trade. The Fund may use a statistical fair valuation model, in accordance with the policy adopted by the Board, provided by an independent third party to value securities principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. These models take into account available market data including intraday index, ADR, and ETF movements. Securities acquired via private placement that have a holding period or an extended settlement period are valued at a discount to the same shares that are trading freely on the market. These discounts are determined by the investment manager's experience with similar securities or situations. Factors may include, but are not limited to, trade volume, shares outstanding and stock price. Warrants which do not trade are valued as a percentage of the actively trading common stock using a model, based on Black Scholes.

The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:

Transfers In				Transfers Out
Level 1		Level 2		Level 1		Level 2
$	434,636	$	-	$	-	$	434,636

Financial assets were transferred from Level 1 to Level 2 as trading resumed during the period.

The Fund does not hold any significant investments categorized as Level 3.

Certain common stock classified as Level 3 are valued at fair value, using a market approach, as determined in good faith under consistently applied procedures established by and under the general supervision of the Board. To determine fair value for these securities, for which no market exists, the Committee utilizes the valuation technique it deems most appropriate in the circumstances, using some unobservable inputs, which may include, but are not limited to, trades of similar securities, estimated earnings of the company, market multiples derived from a set of comparable companies, and the position of the security within the company's capital structure. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement.

Columbia Acorn International

Major Portfolio Changes in the Third Quarter (Unaudited)

	Number of Shares
	6/30/13		9/30/13
Purchases
Asia
> Japan
Aica Kogyo		1,102,500		1,401,000
Ain Pharmaciez		488,892		569,292
Aozora Bank		0		7,210,000
Disco		398,400		458,400
JIN		0		234,400
Milbon		446,400		475,900
Misumi Group		0		804,600
Nippon Kayaku		2,130,500		2,329,000
Nippon Paint		0		1,297,000
NOF		0		926,000
OBIC		0		135,300
Omron		734,800		905,000
OSG		1,355,400		1,450,000
Park24		2,057,000		2,300,000
Rinnai		370,000		501,000
Santen Pharmaceutical		524,600		581,600
Toyo Suisan Kaisha		735,000		1,040,900
Wacom		5,150,200		5,800,000
> Taiwan
Chipbond		5,865,230		11,158,183
Delta Electronics		6,995,000		7,306,000
Ginko International		1,345,000		1,868,000
Lite-On Technology		9,078,000		14,019,253
Radiant Opto-Electronics		0		4,043,000
> Hong Kong
Kingboard Chemicals		0		8,866,000
Vitasoy International		18,000,000		20,000,000
> Korea
CJ Corp		0		246,300
LS Industrial Systems		416,998		510,998
Samsung Securities		0		545,000
> Singapore
Singapore Exchange		3,500,000		3,800,000
Super Group		4,856,000		7,000,000
> China
AMVIG Holdings		34,418,000		35,119,000
Biostime		1,377,000		4,524,000
WuXi PharmaTech - ADR		2,143,203		2,357,000
> Indonesia
Matahari Department Store		9,720,000		10,917,000
MNC Skyvision		44,420,000		49,000,000
> India
Adani Ports & Special Economic Zone		7,222,544		7,500,000

	Number of Shares
	6/30/13		9/30/13
> Thailand
Robinson's Department Store		8,775,000		16,000,000
> Philippines
Puregold Price Club		0		4,530,200
Security Bank		0		4,859,370
> Malaysia
Aeon		0		1,918,200
Europe
> United Kingdom
Abcam		3,715,000		3,850,000
AVEVA		0		584,273
Babcock International		1,198,263		2,257,802
Croda		795,000		960,100
Fidessa Group		473,246		708,000
Foxtons		0		1,364,000
Smiths News		8,141,000		10,944,000
Spirax Sarco		1,130,000		1,214,089
Telecity		3,560,000		3,937,000
> France
Gemalto		445,700		531,700
> Germany
Aurelius		597,726		795,000
Elringklinger		475,000		595,000
NORMA Group		685,000		727,453
TAG Immobilien		2,130,000		2,580,000
> Switzerland
INFICON		0		54,886
Partners Group		267,500		302,300
> Finland
Konecranes		0		761,000
Tikkurila		1,084,000		1,472,689
Vacon		551,816		582,500
> Spain
Bolsas y Mercados Españoles		0		700,745
Viscofan		0		570,000
> Norway
Orkla		0		2,876,245
Subsea 7		906,000		1,321,000
> Russia
Moscow Exchange		0		4,260,219
Other Countries
> Canada
AG Growth		590,228		600,249
DeeThree Exploration		2,566,127		2,983,324

	Number of Shares
	6/30/13		9/30/13
Purchases (continued)
Other Countries—continued
> Australia
Austbrokers		928,701		1,166,443
Domino's Pizza Enterprises		2,800,000		3,493,775
IAG		5,814,100		10,200,000
SAI Global		8,000,000		9,863,787
> New Zealand
Auckland International Airport		0		12,000,000
Sky City Entertainment		0		1,622,847
Latin America
> Brazil
Localiza Rent A Car		3,350,000		4,000,000
Odontoprev		5,000,000		6,000,000
> Mexico
Genomma Lab Internacional		17,626,000		18,255,800
Qualitas		6,569,005		13,782,000
> Chile
Sociedad Quimica y Minera de Chile - ADR		671,499		814,000

	Number of Shares
	6/30/13		9/30/13
Sales
Asia
> Japan
Advance Residence Investment		11,200		0
Benesse		790,000		730,000
Horiba		243,100		0
Itochu Techno-Science		594,700		503,000
Japan Airport Terminal		2,460,000		1,610,000
Kintetsu World Express		920,951		879,000
Kuraray		3,448,100		2,010,100
Nakanishi		315,162		270,000
NGK Insulators		2,390,000		2,260,000
NGK Spark Plug		2,640,000		2,570,000
Nihon Parkerizing		1,448,080		1,122,080
Sanrio		640,000		382,000
Seven Bank		13,822,000		10,560,000
Shimano		225,900		172,000
Sintokogio		1,940,200		1,628,300
Start Today		3,020,000		1,480,000
> Taiwan
CHC Healthcare		4,048,000		269,866
CTCI Corp		23,043,000		21,218,000
Far EasTone Telecom		40,480,000		39,877,000
Flexium Interconnect		7,401,000		6,089,262
Lung Yen		6,173,000		2,933,000
PC Home		3,034,000		2,027,000
St. Shine Optical		2,270,000		2,199,000
Taiwan Hon Chuan		12,488,000		8,366,000
Taiwan Mobile		18,206,000		15,600,000
> Hong Kong
AAC Technologies		7,581,000		4,687,000
Lifestyle International		18,223,000		14,000,000
L'Occitane International		15,625,000		9,215,750
Mapletree Greater China Commercial Trust		40,000,000		30,000,000
Melco Crown Entertainment - ADR		3,500,000		3,000,000
> Korea
BS Financial Group		145,370		0
Coway		834,580		682,580
iMarketKorea		886,204		502,644
> Singapore
Goodpack Limited		13,640,000		1,191,000
CDL Hospitality Trust		20,000,000		18,784,000
Mapletree Industrial Trust		25,000,000		20,000,000
Mapletree Logistics Trust		30,000,000		25,000,000
> China
RexLot Holdings		193,550,000		0
Want Want		16,769,000		11,020,000

Columbia Acorn International

Major Portfolio Changes in the Third Quarter (Unaudited), continued

	Number of Shares
	6/30/13		9/30/13
Sales (continued)
Asia—continued
> Indonesia
Mayora Indah		5,003,500		4,800,000
Mitra Adiperkasa		6,622,000		1,721,000
Tower Bersama Infrastructure		58,000,000		48,636,500
> India
Bharti Infratel		5,514,527		0
Yes Bank		2,765,000		0
> Philippines
Manila Water Company		18,600,000		0
SM Prime Holdings		64,283,000		42,000,000
> Mongolia
Mongolian Mining		74,865,700		62,976,200
Europe
> United Kingdom
BBA Aviation		5,815,000		0
Intertek Group		322,000		160,000
Rightmove		1,147,000		646,000
WH Smith		3,229,068		3,186,211
Whitbread		952,000		464,002
> France
Eurofins Scientific		349,000		314,000
> Netherlands
Imtech		2,114,073		0
> Germany
Pfeiffer Vacuum		113,662		0
Wirecard		2,000,000		1,663,000
> Switzerland
Dufry Group		232,576		0
Geberit		212,500		179,000
> Sweden
Sweco		4,150,024		3,255,024
> Denmark
Jyske Bank		1,117,000		788,000
SimCorp		1,849,420		1,702,063
> Italy
Geox		8,501,000		4,567,745
Pirelli		3,658,000		2,984,000
> Portugal
Redes Energéticas Nacionais		8,635,000		4,123,318

	Number of Shares
	6/30/13		9/30/13
Other Countries
> South Africa
Coronation Fund Managers		13,935,448		13,888,359
Naspers		858,188		777,188
> Canada
Alliance Grain Traders		984,500		858,539
Crew Energy		332,700		0
> Australia
Challenger Financial		11,155,000		10,653,000
Commonwealth Property Office Fund		37,464,000		24,418,249
Regis Resources		6,440,000		0
> United States
World Fuel Services		428,228		0
> Israel
Israel Chemicals		3,145,527		0
Latin America
> Brazil
Arcos Dorados		1,800,000		0
Mills Estruturas e Servicos de Engenharia		1,206,000		0
Multiplus		1,400,000		0
> Mexico
Bolsa Mexicana de Valores		8,361,000		2,975,535
Grupo Aeroportuario del Sureste - ADR		300,000		200,000
> Argentina
Madalena Ventures		3,769,500		0

Columbia Acorn International

Statement of Investments (Unaudited), September 30, 2013

Number of Shares			Value
			Equities: 95.9%
Asia 44.3%
		> Japan 19.8%
	4,784,600	Kansai Paint	$	63,583,566
		Paint Producer in Japan, India, China & Southeast Asia
	2,570,000	NGK Spark Plug		57,038,561
		Automobile Parts
	5,800,000	Wacom		55,792,813
		Computer Graphic Illustration Devices
	36,500	Orix JREIT		46,372,490
		Diversified REIT
	1,276,300	Hoshizaki Electric		44,103,172
		Commercial Kitchen Equipment
	1,480,000	Start Today (a)		41,805,032
		Online Japanese Apparel Retailer
	2,300,000	Park24		40,927,880
		Parking Lot Operator
	270,000	Nakanishi		37,690,294
		Dental Tools & Machinery
	1,610,000	Japan Airport Terminal		37,260,949
		Airport Terminal Operator at Haneda
	501,000	Rinnai		37,231,295
		Gas Appliances for Household & Commercial Use
	1,456,000	Ariake Japan		36,104,566
		Manufacturer of Soup/Sauce Extracts
	10,560,000	Seven Bank		35,374,781
		ATM Processing Services
	229,400	Hirose Electric		35,311,565
		Electrical Connectors
	1,400,000	Glory		35,274,704
		Currency Handling Systems & Related Equipment
	2,260,000	NGK Insulators		34,432,046
		Ceramic Products for Auto, Power & Electronics
	2,329,000	Nippon Kayaku		33,613,596
		Functional Chemicals, Pharmaceuticals & Auto Safety Systems
	6,700	Kenedix Realty Investment		32,955,096
		Tokyo Mid-size Office REIT
	905,000	Omron		32,782,560
		Electric Components for Factory Automation
	879,000	Kintetsu World Express		31,630,968
		Airfreight Logistics
	1,680,000	Daiseki		31,031,153
		Waste Disposal & Recycling
	1,268,000	Nabtesco		30,990,044
		Machinery Components
	1,040,900	Toyo Suisan Kaisha		30,561,748
		Instant Noodle Manufacturer
	3,000	Nippon Prologis REIT (a)		30,062,068
		Logistics REIT in Japan
	2,350,000	Ushio		29,268,237
		Industrial Light Sources
	581,600	Santen Pharmaceutical		28,243,596
		Specialty Pharma (Ophthalmic Medicine)

Number of Shares			Value
	1,401,000	Aica Kogyo	$	27,957,774
		Laminated Sheets, Building Materials & Chemical Adhesives
	603,706	Miraca Holdings		26,980,905
		Outsourced Lab Testing, Diagnostic Equipment & Reagents
	709,500	Hamamatsu Photonics		26,796,557
		Optical Sensors for Medical & Industrial Applications
	730,000	Benesse		26,551,430
		Education Service Provider
	1,530,000	Suruga Bank		26,375,257
		Regional Bank
	458,400	Disco		26,333,047
		Semiconductor Dicing & Grinding Equipment
	3,700	Mori Hills REIT Investment		25,616,394
		Tokyo-centric Diversified REIT
	1,450,000	OSG		25,400,144
		Consumable Cutting Tools
	2,580	Industrial & Infrastructure Fund		24,492,850
		Industrial REIT in Japan
	2,010,100	Kuraray		24,160,310
		Special Resin, Fine Chemical, Fibers & Textures
	569,292	Ain Pharmaciez		24,120,080
		Dispensing Pharmacy/Drugstore Operator
	314,800	FP Corporation		23,674,027
		Disposable Food Trays & Containers
	382,000	Sanrio		23,545,928
		Character Goods & Licensing
	804,600	Misumi Group		23,391,013
		Industrial Components Distributor
	3,850	Global One Real Estate		23,058,651
		Office REIT
	532,000	FamilyMart		23,042,795
		Convenience Store Operator
	1,122,080	Nihon Parkerizing		23,001,290
		Metal Surface Treatment Agents & Processing Service
	1,600,000	Doshisha		22,899,376
		Wholesaler of Household Products
	7,210,000	Aozora Bank		21,411,967
		Commercial Bank
	2,100,000	Asahi Diamond Industrial		20,869,580
		Consumable Diamond Tools
	1,297,000	Nippon Paint		20,764,419
		Paints for Automotive, Decorative & Industrial Usage
	835,000	Icom (b)		19,786,268
		Two Way Radio Communication Equipment
	475,900	Milbon		19,523,701
		Manufacturer of Hair Products
	503,000	Itochu Techno-Science		17,899,825
		IT Network Equipment Sales & Services
	172,000	Shimano		15,382,092
		Manufacturer of Bicycle Components & Fishing Tackle

Columbia Acorn International

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Japan—continued
	1,628,300	Sintokogio	$	12,246,587
		Automated Casting Machines, Surface Treatment System & Consumables
	1,575,000	Lifenet Insurance (a)(c)		10,444,905
		Online Life Insurance Company in Japan
	350,000	MonotaRO		10,282,552
		Online MRO (Maintenance, Repair, Operations) Goods Distributor in Japan
	234,400	JIN		8,837,444
		Eyeglasses Retailer
	926,000	NOF		5,965,989
		Specialty Chemicals, Life Science & Rocket Fuels
	135,300	OBIC		4,376,230
		Computer Software
				1,584,632,167
		> Taiwan 6.3%
	39,877,000	Far EasTone Telecom		99,352,659
		Taiwan's Third Largest Mobile Operator
	2,199,000	St. Shine Optical		60,597,313
		World's Leading Disposable Contact Lens OEM (Original Equipment Manufacturer)
	15,600,000	Taiwan Mobile		55,331,886
		Taiwan's Second Largest Mobile Operator
	7,306,000	Delta Electronics		35,478,009
		Industrial Automation, Switching Power Supplies & Passive Components
	1,868,000	Ginko International		34,561,660
		Largest Contact Lens Maker in China
	21,218,000	CTCI Corp		34,294,332
		International Engineering Firm
	5,219,000	Advantech		29,216,813
		Industrial PC & Components
	14,019,253	Lite-On Technology		23,896,368
		Mobile Device, LED & PC Server Component Supplier
	11,158,183	Chipbond		23,040,368
		Semiconductor Back-end Packaging Services
	6,089,262	Flexium Interconnect		20,991,894
		Flexible Printed Circuit for Mobile Electronics
	2,673,000	President Chain Store		19,307,273
		Convenience Chain Store Operator
	8,366,000	Taiwan Hon Chuan		18,163,853
		Beverage Packaging (Bottles, Caps, Labels) Manufacturer
	7,568,000	Chroma Ate		17,024,602
		Automatic Test Systems, Testing & Measurement Instruments
	4,043,000	Radiant Opto-Electronics		14,419,804
		LCD Back Light Units & Modules
	2,027,000	PC Home		11,662,680
		Taiwanese Internet Retail Company
	2,933,000	Lung Yen		8,916,166
		Funeral Services & Columbaria

Number of Shares			Value
	269,866	CHC Healthcare	$	867,297
		Medical Device Distributor
				507,122,977
		> Hong Kong 4.7%
	3,000,000	Melco Crown Entertainment - ADR (c)		95,490,000
		Macau Casino Operator
	20,000,000	Melco International		53,751,121
		Macau Casino Operator
	30,000,000	Sa Sa International		33,873,508
		Cosmetics Retailer
	10,000,000	MGM China Holdings		33,259,124
		Macau Casino Operator
	14,000,000	Lifestyle International		29,792,148
		Mid to High-end Department Store Operator in Hong Kong & China
	20,000,000	Vitasoy International		25,255,284
		Hong Kong Soy Food Brand
	9,215,750	L'Occitane International		24,093,593
		Skin Care & Cosmetics Producer
	8,866,000	Kingboard Chemicals		22,828,244
		Paper & Glass Laminates, PCB, Specialty Chemicals & Properties
	30,000,000	Mapletree Greater China Commercial Trust (c)		21,410,035
		Retail & Office Property Landlord
	4,687,000	AAC Technologies		21,369,083
		Miniature Acoustic Components
	1,799,800	ASM Pacific		18,283,391
		Semi Back-end & Surface Mounting Equipment
				379,405,531
		> Korea 3.4%
	682,580	Coway		37,850,155
		Household Appliance Rental Service Provider
	1,424,261	Paradise Co		32,461,146
		Korean 'Foreigner Only' Casino Operator
	74,400	KCC		31,265,943
		Paint & Housing Material Manufacturer
	510,998	LS Industrial Systems		30,910,439
		Manufacturer of Electrical & Automation Equipment
	246,300	CJ Corp		26,595,716
		Holding Company of Korean Consumer Conglomerate
	16,200	Lotte Chilsung Beverage		25,574,788
		Beverages & Liquor Manufacturer
	545,000	Samsung Securities		23,851,271
		Brokerage & Wealth Management
	465,540	Kepco Plant Service & Engineering		23,548,798
		Power Plant & Grid Maintenance
	563,431	Handsome		15,090,328
		High-end Apparel Company
	502,644	iMarketKorea		11,730,619
		Procurement, Distribution of MRO (Maintenance, Repair, Operations) Goods

Number of Shares			Value
		> Korea—continued
	704,000	Nexen Tire	$	10,479,212
		Tire Manufacturer
				269,358,415
		> Singapore 2.4%
	40,000,000	Mapletree Commercial Trust		38,764,114
		Retail & Office Property Landlord
	13,500,000	Ascendas REIT		24,563,124
		Industrial Property Landlord
	18,784,000	CDL Hospitality Trust		24,383,041
		Hotel Owner/Operator
	7,000,000	Super Group		23,674,401
		Instant Food & Beverages in Southeast Asia
	3,800,000	Singapore Exchange		22,011,434
		Singapore Equity & Derivatives Market Operator
	20,000,000	Mapletree Industrial Trust		21,513,467
		Industrial Property Landlord
	25,000,000	Mapletree Logistics Trust		21,342,115
		Industrial Property Landlord
	4,772,000	Petra Foods		13,173,656
		Cocoa Processor & Chocolate Manufacturer
	1,191,000	Goodpack Limited		1,642,366
		International Bulk Container Leasing
				191,067,718
		> China 1.7%
	2,357,000	WuXi PharmaTech - ADR (c)		64,581,800
		Largest Contract Research Organization Business in China
	4,524,000	Biostime (a)		34,202,467
		Pediatric Nutrition & Baby Care Products Provider
	11,020,000	Want Want		16,757,865
		Chinese Branded Consumer Food Company
	35,119,000	AMVIG Holdings		15,138,010
		Chinese Tobacco Packaging Material Supplier
	4,561,300	Digital China		5,594,465
		IT Distribution & Systems Integration Services
				136,274,607
		> Indonesia 1.5%
	31,764,600	Archipelago Resources (b)(d)(e)(f)		29,093,548
		Gold Mining Projects in Indonesia, Vietnam & the Philippines
	48,636,500	Tower Bersama Infrastructure (c)		24,568,405
		Communications Towers
	250,000,000	Ace Indonesia		15,128,143
		Home Improvement Retailer
	4,800,000	Mayora Indah		13,110,747
		Consumer Branded Food Manufacturer
	58,000,000	Surya Citra Media		12,774,860
		Free to Air TV Station in Indonesia

Number of Shares			Value
	10,917,000	Matahari Department Store (c)	$	9,902,031
		Largest Department Store Chain in Indonesia
	49,000,000	MNC Skyvision (c)		7,573,203
		Largest Satellite Pay TV Operator in Indonesia
	69,428,000	Arwana Citramulia		5,100,117
		Ceramic Tiles for Home Decoration
	1,721,000	Mitra Adiperkasa		921,457
		Operator of Department Store & Specialty Retail Stores
	4,412,508	Southern Arc Minerals (c)		385,540
		Gold & Copper Exploration in Indonesia
				118,558,051
		> India 1.5%
	3,423,265	Asian Paints		25,133,577
		India's Largest Paint Company
	1,655,000	United Breweries		22,747,753
		India's Largest Brewer
	920,000	Colgate Palmolive India		18,223,762
		Consumer Products in Oral Care
	7,500,000	Adani Ports & Special Economic Zone		16,554,286
		Indian West Coast Shipping Port
	85,000	Bosch		12,284,715
		Automotive Parts
	13,195,000	Redington India		11,534,909
		Supply Chain Solutions for IT & Mobile Handsets in Emerging Markets
	125,000	TTK Prestige		6,649,957
		Branded Cooking Equipment
	1,650,000	SKIL Ports and Logistics (c)		2,297,220
		Indian Container Port Project
				115,426,179
		> Thailand 1.2%
	100,000,000	Home Product Center		39,115,802
		Home Improvement Retailer
	4,500,000	Airports of Thailand		27,163,056
		Airport Operator of Thailand
	16,000,000	Robinson's Department Store		24,350,665
		Department Store Operator in Thailand
	10,000,000	Samui Airport Property Fund		5,398,731
		Thai Airport Operator
				96,028,254
		> Philippines 0.8%
	7,000,000	Int'l Container Terminal		15,609,043
		Container Handling Terminals & Port Management
	42,000,000	SM Prime Holdings		15,432,774
		Shopping Mall Operator
	60,000,000	Melco Crown (Philippines) Resorts (c)		15,158,475
		Integrated Resort Operator in Manila
	4,859,370	Security Bank		14,646,711
		Commercial Bank in Philippines
	4,530,200	Puregold Price Club		4,344,084
		Supermarket Operator in Philippines
				65,191,087

Columbia Acorn International

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Cambodia 0.6%
	60,000,000	Nagacorp	$	50,623,278
		Casino/Entertainment Complex in Cambodia
		> Mongolia 0.3%
	62,976,200	Mongolian Mining (c)		11,294,760
		Coking Coal Mining in Mongolia
	1,049,943	Turquoise Hill Resources (c)		4,637,872
	914,678	Turquoise Hill Resources (a)(c)(g)		4,042,877
		Copper Mine Project in Mongolia
				19,975,509
		> Malaysia 0.1%
	1,918,200	Aeon		9,062,825
		Shopping Center & Department Store Operator
Asia: Total				3,542,726,598
Europe 32.3%
		> United Kingdom 9.1%
	4,561,000	Jardine Lloyd Thompson Group		69,776,980
		International Business Insurance Broker
	1,214,089	Spirax Sarco		59,259,520
		Steam Systems for Manufacturing & Process Industries
	3,937,000	Telecity		52,900,990
		European Data Center Provider
	2,257,802	Babcock International		43,715,688
		Public Sector Outsourcer
	3,186,211	WH Smith (a)		42,657,984
		Newsprint, Books & General Stationery Retailer
	960,100	Croda		41,266,847
		Oleochemicals & Industrial Chemicals
	10,944,000	Smiths News (b)		36,320,368
		Newspaper & Magazine Distributor
	3,565,000	Shaftesbury		34,051,154
		London Prime Retail REIT
	3,583,000	Domino's Pizza UK & Ireland		33,875,050
		Pizza Delivery in UK, Ireland & Germany
	2,709,000	Smith & Nephew		33,812,998
		Medical Equipment & Supplies
	3,850,000	Abcam		31,537,810
		Online Sales of Antibodies
	7,760,000	Elementis		30,112,724
		Clay-based Additives
	4,577,000	Halford's		29,164,618
		The UK's Leading Retailer for Leisure Goods & Auto Parts
	646,000	Rightmove		24,775,240
		Internet Real Estate Listings
	584,273	AVEVA		24,573,966
		Engineering Software
	708,000	Fidessa Group		22,786,096
		Software for Financial Trading Systems
	875,000	Aggreko		22,721,275
		Temporary Power & Temperature Control Services

Number of Shares			Value
	34,752,000	Cable and Wireless	$	22,295,857
		Leading Telecoms Service Provider in the Caribbean
	464,002	Whitbread		22,264,777
		The UK's Leading Hotelier & Coffee Shop
	3,100,000	PureCircle (a)(c)		17,063,216
		Natural Sweeteners
	1,864,319	Ocado (c)		11,951,866
		Online Grocery Retailer
	160,000	Intertek Group		8,560,748
		Testing, Inspection, Certification Services
	382,581	Tullow Oil		6,342,254
		Oil & Gas Producer
	1,364,000	Foxtons (c)		5,962,089
		London-centric Residential Real Estate Broker
	58,508	Telecom Plus		1,199,138
		UK Multi Utility
				728,949,253
		> France 3.5%
	1,100,000	Neopost (a)		80,106,334
		Postage Meter Machines
	314,000	Eurofins Scientific		79,139,317
		Food, Pharmaceuticals & Materials Screening & Testing
	531,700	Gemalto		57,091,681
		Digital Security Solutions
	308,400	Norbert Dentressangle		32,960,307
		Leading European Logistics & Transport Group
	1,002,314	Saft		27,648,452
		Niche Battery Manufacturer
	1,831,204	Hi-Media (a)(c)		4,459,221
		Online Advertiser in Europe
				281,405,312
		> Netherlands 3.4%
	2,971,770	Aalberts Industries		79,180,998
		Flow Control & Heat Treatment
	1,514,545	UNIT4 (b)		59,317,186
		Business Software Development
	1,178,288	TKH Group		35,292,211
		Dutch Industrial Conglomerate
	520,900	Fugro		31,774,914
		Subsea Oilfield Services
	1,068,478	Arcadis		30,557,679
		Engineering Consultants
	143,395	Core Labs		24,263,868
		Oil & Gas Reservoir Consulting
	266,124	Vopak		15,248,900
		World's Largest Operator of Petroleum & Chemical Storage Terminals
	19,500	Frank's International (c)		583,635
		Global Provider of Casing Running Services Post Drilling of Wells
				276,219,391

Number of Shares			Value
		> Germany 3.0%
	1,663,000	Wirecard	$	56,885,948
		Online Payment Processing & Risk Management
	148,295	Rational		44,236,921
		Commercial Ovens
	727,453	NORMA Group		35,045,052
		Clamps for Automotive & Industrial Applications
	2,580,000	TAG Immobilien		32,017,019
		Owner of Residential Properties in Germany
	595,000	Elringklinger		26,772,505
		Automobile Components
	795,000	Aurelius		25,758,611
		European Turnaround Investor
	90,000	Bertrandt		11,330,664
		Outsourced Engineering
	260,000	Deutsche Beteiligungs		6,735,842
		Private Equity Investment Management
				238,782,562
		> Switzerland 2.6%
	302,300	Partners Group		74,108,376
		Private Markets Asset Management
	179,000	Geberit		48,335,047
		Plumbing Supplies
	16,300	Sika		47,511,251
		Chemicals for Construction & Industrial Applications
	54,886	INFICON		17,600,420
		Gas Detection Instruments
	380,000	Zehnder		16,933,710
		Radiators & Heat Recovery Ventilation Systems
				204,488,804
		> Sweden 2.0%
	2,747,522	Hexagon		82,852,749
		Design, Measurement & Visualization Software & Equipment
	3,255,024	Sweco		42,038,214
		Engineering Consultants
	868,700	Unibet		34,873,979
		European Online Gaming Operator
				159,764,942
		> Denmark 1.8%
	1,702,063	SimCorp		57,269,537
		Software for Investment Managers
	1,315,800	Novozymes		50,335,060
		Industrial Enzymes
	788,000	Jyske Bank (c)		39,134,861
		Danish Bank
				146,739,458
		> Finland 1.4%
	582,500	Vacon		45,863,660
		Leading Independent Manufacturer of Variable Speed Alternating Current Drives

Number of Shares			Value
	1,472,689	Tikkurila	$	39,248,861
		Decorative & Industrial Paint in Scandinavia & Central & Eastern Europe
	761,000	Konecranes		25,624,733
		Manufacture & Service of Industrial Cranes & Port Handling Equipment
				110,737,254
		> Spain 1.3%
	6,064,000	Dia		52,577,418
		Leading Hard Discounter in Spain, Latin America & the Eastern Mediterranean
	570,000	Viscofan		32,595,444
		Sausage Casings Maker
	700,745	Bolsas y Mercados Españoles		22,235,415
		Spanish Stock Markets
				107,408,277
		> Norway 1.0%
	3,281,864	Atea		34,520,085
		Leading Nordic IT Hardware/Software Reseller & Installation Company
	1,321,000	Subsea 7		27,460,192
		Offshore Subsea Contractor
	2,876,245	Orkla		20,950,323
		Food & Brands, Aluminum, Chemicals Conglomerate
				82,930,600
		> Russia 0.8%
	1,167,000	Yandex (c)		42,502,140
		Search Engine for Russian & Turkish Languages
	400,000	QIWI - ADR		12,504,000
		Electronic Payments Network Serving Russia & the Commonwealth of Independent States
	4,260,219	Moscow Exchange		8,158,469
		Russia's Main Exchange for Stocks, Bonds, Derivatives, Currencies & Repo
				63,164,609
		> Italy 0.6%
	2,984,000	Pirelli		38,855,218
		Global Tire Supplier
	4,567,745	Geox (a)		12,482,541
		Apparel & Shoe Maker
				51,337,759
		> Kazakhstan 0.5%
	5,143,000	Halyk Savings Bank of Kazakhstan - GDR		40,629,700
		Largest Retail Bank & Insurer in Kazakhstan
		> Iceland 0.4%
	28,312,499	Marel (h)		20,698,752
	7,670,000	Marel (h)		8,156,185
		Largest Manufacturer of Poultry & Fish Processing Equipment
				28,854,937

Columbia Acorn International

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Belgium 0.4%
	437,465	EVS Broadcast Equipment	$	28,224,121
		Digital Live Mobile Production Software & Systems
		> Turkey 0.3%
	1,785,000	Bizim Toptan		23,063,043
		Cash & Carry Stores in Turkey
		> Portugal 0.2%
	4,123,318	Redes Energéticas Nacionais		12,327,894
		Portuguese Power Transmission & Gas Transportation
Europe: Total				2,585,027,916
Other Countries 14.3%
		> South Africa 4.1%
	13,888,359	Coronation Fund Managers		94,892,202
		South African Fund Manager
	777,188	Naspers		71,867,974
		Media in Africa, China, Russia & Other Emerging Markets
	19,098,300	Rand Merchant Insurance		50,902,169
		Directly Sold Property & Casualty Insurance; Holdings in Other Insurers
	2,230,504	Massmart Holdings		37,348,904
		General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary
	8,679,940	Northam Platinum (c)		36,655,408
		Platinum Mining in South Africa
	2,644,083	Mr. Price		36,618,584
		South African Retailer of Apparel, Household & Sporting Goods
				328,285,241
		> Canada 3.9%
	1,303,772	CCL Industries		86,487,783
		Largest Global Label Converter
	1,084,597	ShawCor		45,740,395
		Oil & Gas Pipeline Products
	3,188,000	CAE		34,911,548
		Flight Simulator Equipment & Training Centers
	653,200	Onex Capital		34,307,189
		Private Equity
	1,853,324	DeeThree Exploration (c)		16,445,203
	1,130,000	DeeThree Exploration (c)(e)		9,826,354
		Canadian Oil & Gas Producer
	600,249	AG Growth (a)		22,639,361
		Leading Manufacturer of Augers & Grain Handling Equipment
	709,576	Black Diamond Group (a)		16,960,110
		Provides Accommodations/Equipment for Oil Sands Development
	1,901,514	Horizon North Logistics (a)		13,402,254
		Provides Diversified Oil Service Offering in Northern Canada
	858,539	Alliance Grain Traders		12,385,699
		Global Leader in Pulse Processing & Distribution

Number of Shares			Value
	263,857	Baytex (a)	$	10,889,336
		Oil & Gas Producer in Canada
	450,000	Athabasca Oil Sands (c)		3,429,445
		Oil Sands & Unconventional Oil Development
	1,607,306	Pan Orient (c)		3,230,060
		Growth-oriented, Return-focused Asian Explorer
				310,654,737
		> Australia 2.9%
	10,200,000	IAG		55,914,855
		General Insurance Provider
	10,653,000	Challenger Financial		54,711,195
		Largest Annuity Provider
	3,493,775	Domino's Pizza Enterprises		44,457,979
		Domino's Pizza Operator in Australia/New Zealand & France/Benelux
	9,863,787	SAI Global		40,894,284
		Publishing, Certification, Compliance Services
	24,418,249	Commonwealth Property Office Fund		26,010,943
		Australia Prime Office REIT
	1,166,443	Austbrokers		12,176,678
		Local Australian Small Business Insurance Broker
				234,165,934
		> United States 2.5%
	952,080	Atwood Oceanics (c)		52,402,483
		Offshore Drilling Contractor
	1,272,297	Textainer Group Holdings (a)		48,181,887
		Top International Container Leaser
	1,052,900	Rowan (c)		38,662,488
		Contract Offshore Driller
	601,213	FMC Technologies (c)		33,319,225
		Oil & Gas Well Head Manufacturer
	439,500	Hornbeck Offshore (c)		25,244,880
		Supply Vessel Operator in U.S. Gulf of Mexico
				197,810,963
		> New Zealand 0.5%
	12,000,000	Auckland International Airport		33,033,451
		Auckland Airport
	1,622,847	Sky City Entertainment		5,404,807
		Casino/Entertainment Complex
				38,438,258
		> Israel 0.4%
	791,000	Caesarstone (c)		36,132,880
		Quartz Countertops
Other Countries: Total				1,145,488,013
Latin America 5.0%
		> Brazil 1.9%
	4,000,000	Localiza Rent A Car		59,919,686
		Car Rental
	55,632,340	Beadell Resources (b)(c)		48,219,857
		Gold Mining in Brazil

Number of Shares			Value
		> Brazil—continued
	6,000,000	Odontoprev	$	26,503,632
		Dental Insurance
	1,000,000	Linx		16,807,291
		Retail Management Software in Brazil
				151,450,466
		> Mexico 1.7%
	18,255,800	Genomma Lab Internacional (c)		41,701,243
		Develops, Markets & Distributes Consumer Products
	6,090,000	Gruma (c)		33,963,864
		Tortilla Producer & Distributor
	13,782,000	Qualitas		33,535,025
		Leading Auto Insurer in Mexico & Central America
	200,000	Grupo Aeroportuario del Sureste - ADR		21,772,000
		Mexican Airport Operator
	2,975,535	Bolsa Mexicana de Valores		7,112,914
		Mexico's Stock Exchange
				138,085,046
		> Chile 0.6%
	814,000	Sociedad Quimica y Minera de Chile - ADR		24,867,700
		Producer of Specialty Fertilizers, Lithium & Iodine
	23,280,000	Empresas Hites (b)		21,310,597
		Mass Retailer for the Lower Income Strata
				46,178,297
		> Guatemala 0.3%
	1,626,600	Tahoe Resources (c)		29,277,379
		Silver Project in Guatemala
		> Colombia 0.3%
	14,729,000	Isagen (c)		22,561,457
		Colombian Electricity Provider
		> Uruguay 0.2%
	1,306,818	Union Agriculture Group (c)(d)(e)		14,009,089
		Farmland Operator in Uruguay
Latin America: Total				401,561,734
Total Equities: 95.9% (Cost: $5,616,699,084)				7,674,804,261	(i)

Number of Shares			Value
Short-Term Investments 4.3%
	217,164,551	JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%)	$	217,164,551
	132,103,807	JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%)		132,103,807
Total Short-Term Investments: 4.3% (Cost: $349,268,358)				349,268,358
Securities Lending Collateral 0.9%
	71,916,853	Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (j)		71,916,853
Total Securities Lending Collateral: (Cost: $71,916,853)				71,916,853
Total Investments: 101.1% (Cost: $6,037,884,295) (k)				8,095,989,472	(l)
Obligation to Return Collateral for Securities Loaned: (0.9)%				(71,916,853	)
Cash and Other Assets Less Liabilities: (0.2)%				(19,021,227	)
Net Assets: 100.0%			$	8,005,051,392

ADR - American Depositary Receipts

GDR - Global Depositary Receipts

REIT - Real Estate Investment Trust

Columbia Acorn International

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

(a) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $68,545,290.

Security	Balance of Shares Held 12/31/12		Purchases/ Additions		Sales/ Reductions		Balance of Shares Held 9/30/13		Value		Dividend
UNIT4		1,574,145		-		59,600		1,514,545	$	59,317,186	$	881,545
Wacom (1)(2)		21,500		6,687,400		908,900		5,800,000		55,792,813		881,792
Beadell Resources		17,793,303		37,839,037		-		55,632,340		48,219,857		-
Sweco (1)		4,150,024		-		895,000		3,255,024		42,038,214		2,061,879
Nakanishi (1)		295,762		25,400		51,162		270,000		37,690,294		(40	)
Smiths News		-		10,944,000				10,944,000		36,320,368		425,393
Archipelago Resources		31,764,600		-		-		31,764,600		29,093,548		1,483,018
Empresas Hites		-		23,280,000		-		23,280,000		21,310,597		474,018
Icom		732,108		102,892		-		835,000		19,786,268		232,865
Southern Arc Minerals (1)		6,217,500		-		1,804,992		4,412,508		385,540		-
Total of Affiliated Transactions		62,548,942		78,878,729		3,719,654		137,708,017	$	349,954,685	$	6,440,470

(1) At September 30, 2013, the Fund owned less than five percent of the company's outstanding voting shares.

(2) Includes the effects of a stock split.

The aggregate cost and value of these companies at September 30, 2013, was $172,679,804 and $214,047,824, respectively. Investments in affiliated companies represented 2.67% of the Fund's total net assets at September 30, 2013.

(d) Illiquid security.

(e) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At September 30, 2013, the market value of these securities amounted to $52,928,991, which represented 0.66% of total net assets. Additional information on these securities is as follows:

Security	Acquisition Dates	Shares/Units		Cost		Value
Archipelago Resources	2/30/10-9/26/13		31,764,600	$	18,376,857	$	29,093,548
Union Agriculture Group	12/8/10-6/27/12		1,306,818		15,000,000		14,009,089
DeeThree Exploration	9/7/10		1,130,000		2,950,812		9,826,354
				$	36,327,669	$	52,928,991

(f) Units represent shares of security and related put options received through company restructuring. Additional information on the purchased options received is as follows:

Security

Option Shares

Exercise Price

Expiration Date (1)

Archipelago Resources

31,764,600

GBP

0.58

October 31, 2014

GBP - British Pound

(1) Archipelago Resources is expected to restructure into a new company during 2014. From January 31, 2014, the option is exercisable until the earlier of (i) the date the company is restructured and prices the shares for its initial public offering or (ii) August 13, 2014, subject to extension until the date the company is restructured and prices the shares for its initial public offering (but not later than September 26, 2016). After August 13, 2014, the valuation of the option will fluctuate based upon its fair market value as determined in accordance with the put option agreement.

(g) Security is traded on a U.S. exchange.

(h) The common stock equity holdings of Marel are stated separately on the Statement of Investments due to the application of the onshore or offshore foreign currency exchange rate. The appropriate exchange rate is applied to each purchased security lot based on the applicable registration obtained from Marel's regulatory governing body, the Icelandic Central Bank.

(i) On September 30, 2013, the Fund's total investments were denominated in currencies as follows:

Currency	Value		Percentage of Net Assets
Japanese Yen	$	1,584,632,167		19.8
Euro		1,081,595,067		13.5
British Pound		760,340,022		9.5
United States Dollar		587,349,120		7.3
Taiwan Dollar		507,122,977		6.4
Other currencies less than 5% of total net assets		3,153,764,908		39.4
Total Equities	$	7,674,804,261		95.9

> Notes to Statement of Investments

(j) Investment made with cash collateral received from securities lending activity.

(k) At September 30, 2013, for federal income tax purposes, the cost of investments was $6,037,884,295 and net unrealized appreciation was $2,058,105,177 consisting of gross unrealized appreciation of $2,315,145,667 and gross unrealized depreciation of $257,040,490.

(l) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include exchange traded domestic equities, mutual funds whose NAVs are published each day and exchange traded foreign equities that are not statistically fair valued. Typical Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Fund's Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.

Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.

The following table summarizes the inputs used, as of September 30, 2013, in valuing the Fund's assets:

Investment Type	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equities
Asia	$	169,138,089	$	3,344,494,961	$	29,093,548	$	3,542,726,598
Europe		79,853,643		2,505,174,273		-		2,585,027,916
Other Countries		534,772,226		610,715,787		-		1,145,488,013
Latin America		339,332,788		48,219,857		14,009,089		401,561,734
Total Equities		1,123,096,746		6,508,604,878		43,102,637		7,674,804,261
Total Short-Term Investments		349,268,358		-		-		349,268,358
Total Securities Lending Collateral		71,916,853		-		-		71,916,853
Total Investments	$	1,544,281,957	$	6,508,604,878	$	43,102,637	$	8,095,989,472

Columbia Acorn International

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

There were no transfers of financial assets between levels 1 and 2 during the period.

The Fund does not hold any significant investments categorized as Level 3.

Columbia Acorn International

Portfolio Diversification (Unaudited)

At September 30, 2013, the Fund's portfolio investments as a percentage of net assets were diversified as follows:

	Value		Percentage of Net Assets
> Industrial Goods & Services
Industrial Materials & Specialty Chemicals	$	600,465,662		7.5
Machinery		494,536,224		6.2
Other Industrial Services		420,264,629		5.2
Electrical Components		236,216,958		3.0
Conglomerates		161,182,143		2.0
Construction		82,629,380		1.0
Outsourcing Services		78,595,150		1.0
Industrial Distribution		23,655,537		0.3
		2,097,545,683		26.2
> Consumer Goods & Services
Retail		543,712,761		6.8
Food & Beverage		324,785,800		4.1
Casinos & Gaming		321,021,930		4.0
Other Durable Goods		182,570,044		2.3
Nondurables		171,806,319		2.1
Other Consumer Services		103,154,185		1.3
Restaurants		100,597,806		1.3
Consumer Goods Distribution		88,978,415		1.1
Travel		59,919,686		0.7
Furniture & Textiles		36,132,880		0.5
Apparel		27,572,869		0.3
Educational Services		26,551,430		0.3
		1,986,804,125		24.8
> Information
Business Software		267,983,057		3.4
Computer Hardware & Related Equipment		265,488,694		3.3
Mobile Communications		199,039,218		2.5
Internet Related		139,145,354		1.7
Computer Services		105,320,900		1.3
Financial Processors		99,559,850		1.2
Semiconductors & Related Equipment		88,648,699		1.1
Instrumentation		43,821,159		0.5
Telephone & Data Services		22,295,857		0.3
TV Broadcasting		12,774,860		0.2
Satellite Broadcasting & Services		7,573,203		0.1
Electronics Distribution		5,594,465		0.1
Advertising		4,459,221		0.1
		1,261,704,537		15.8

	Value			Percentage of Net Assets
> Finance
Insurance	$	313,965,439			3.9
Banks		177,573,277			2.2
Brokerage & Money Management		175,736,420			2.2
Finance Companies		106,340,348			1.3
Financial Processors		22,235,415			0.3
Specialized Finance		7,112,914			0.1
		802,963,813			10.0
> Other Industries
Real Estate		448,007,424			5.6
Transportation		157,588,493			2.0
Regulated Utilities		36,088,489			0.5
		641,684,406			8.0
> Energy & Minerals
Oil Services		285,550,575			3.6
Mining		187,871,108			2.4
Oil & Gas Producers		50,162,653			0.6
Agricultural Commodities		26,394,788			0.3
Oil Refining, Marketing & Distribution		15,248,900			0.2
		565,228,024			7.1
> Health Care
Medical Supplies		126,696,783			1.6
Pharmaceuticals		92,825,396			1.2
Medical Equipment & Devices		72,370,589			0.9
Health Care Services		26,980,905			0.3
		318,873,673			4.0
Total Equities:		7,674,804,261			95.9
Short-Term Investments:		349,268,358			4.3
Securities Lending Collateral:		71,916,853			0.9
Total Investments:		8,095,989,472			101.1
Obligation to Return Collateral for Securities Loaned:		(71,916,853	)		(0.9	)
Cash and Other Assets Less Liabilities:		(19,021,227	)		(0.2	)
Net Assets:	$	8,005,051,392			100.0

Columbia Acorn USA

Major Portfolio Changes in the Third Quarter (Unaudited)

	Number of Shares
	6/30/13		9/30/13
Purchases
Information
CalAmp		173,015		281,000
InContact		160,200		286,000
Monolithic Power Systems		333,000		383,000
RetailMeNot		0		141,831
Rogers		67,000		83,000
Industrial Goods & Services
Generac		168,000		245,000
WESCO International		41,000		90,000
Consumer Goods & Services
B&G Foods		70,764		100,000
Boulder Brands		136,000		269,723
Casey's General Stores		113,000		138,000
Fifth & Pacific Companies		0		135,000
Lifetime Fitness		233,000		293,000
Restoration Hardware Holdings		0		46,400
Select Comfort		145,000		297,000
The Chefs' Warehouse		0		127,000
United Natural Foods		0		54,000
Finance
First Busey		1,345,199		1,615,986
Health Care
Akorn		584,000		742,000
Allscripts Healthcare Solutions		468,000		960,000
Alnylam Pharmaceuticals		145,000		160,377
ARIAD Pharmaceuticals		388,000		476,000
Envision Healthcare Holdings		0		112,000
HealthSouth		114,000		183,000
Sirona Dental Systems		135,000		183,000
Synageva Biopharma		258,773		321,100
Other Industries
St. Joe		182,000		356,000
Energy & Minerals
Bill Barrett Corporation		0		130,832
Carrizo Oil & Gas		0		41,576
Gulfmark Offshore		84,000		153,000
Laredo Petroleum		0		159,000
Rosetta Resources		83,000		180,000

	Number of Shares
	6/30/13		9/30/13
Sales
Information
Bally Technologies		600,000		555,000
IPG Photonics		454,000		427,000
Netgear		88,000		0
ON Semiconductor		260,000		0
Semtech		118,000		0
Industrial Goods & Services
Polypore International		130,000		65,000
TrueBlue		151,000		10,616
Consumer Goods & Services
Abercrombie & Fitch		179,500		145,000
lululemon athletica		113,000		0
Pinnacle Entertainment		321,913		0
Ryman Hospitality Properties		569,722		427,000
Saks		351,000		0
Finance
TriCo Bancshares		67,569		0
ViewPoint Financial		548,487		393,487
World Acceptance		234,000		211,000
Heath Care
BioMarin Pharmaceutical		193,000		167,338
NPS Pharmaceuticals		729,000		550,000
Onyx Pharmaceuticals		91,000		0
Seattle Genetics		645,000		604,000
Other Industries
Biomed Realty Trust		352,200		196,200
World Fuel Services		79,000		0
Energy & Minerals
Atwood Oceanics		584,000		464,000

Columbia Acorn USA

Statement of Investments (Unaudited), September 30, 2013

Number of Shares			Value
			Equities: 99.5%
Information 28.3%
		> Business Software 9.0%
	745,000	Informatica (a)	$	29,032,650
		Enterprise Data Integration Software
	299,000	Ansys (a)		25,869,480
		Simulation Software for Engineers & Designers
	178,000	Concur Technologies (a)		19,669,000
		Web Enabled Cost & Expense Management Software
	290,000	SPS Commerce (a)		19,406,800
		Supply Chain Management Software Delivered Via the Web
	170,000	NetSuite (a)		18,349,800
		End-to-end IT Systems Solution Delivered Over the Web
	335,000	Micros Systems (a)		16,729,900
		Information Systems for Hotels, Restaurants & Retailers
	330,000	RealPage (a)(b)		7,642,800
		Software for Managing Rental Properties Delivered Via the Web
	310,000	Exa (a)		4,801,900
		Simulation Software
	72,000	DemandWare (a)		3,335,760
		E-Commerce Website Solution for Retailers & Apparel Manufacturers
	126,000	E2Open (a)(b)		2,822,400
		Supply Chain Management Software & Supplier/Partner Network
	81,192	Webgroup.com (a)		2,625,749
		Website Creation & Management for Small Businesses
	82,000	Envestnet (a)		2,542,000
		Technology Platform for Investment Advisors
	286,000	InContact (a)		2,365,220
		Call Center Systems Delivered Via the Web & Telco Services
				155,193,459
		> Instrumentation 4.2%
	164,000	Mettler-Toledo International (a)		39,374,760
		Laboratory Equipment
	427,000	IPG Photonics (b)		24,044,370
		Fiber Lasers
	274,000	Trimble Navigation (a)		8,140,540
		GPS-based Instruments
				71,559,670
		> Telephone & Data Services 2.4%
	1,325,000	tw telecom (a)		39,571,125
		Fiber Optic Telephone/Data Services
	364,000	Boingo Wireless (a)		2,548,000
		Wholesale & Retail Wi-Fi Networks
				42,119,125

Number of Shares			Value
		> Gaming Equipment & Services 2.3%
	555,000	Bally Technologies (a)	$	39,993,300
		Slot Machines & Software
		> Computer Services 2.0%
	506,000	ExlService Holdings (a)		14,410,880
		Business Process Outsourcing
	327,000	WNS - ADR (India) (a)		6,938,940
		Offshore Business Process Outsourcing Services
	175,000	Virtusa (a)		5,085,500
		Offshore IT Outsourcing
	706,766	Hackett Group		5,039,242
		IT Integration & Best Practice Research
	582,000	RCM Technologies		3,509,460
		Technology & Engineering Services
				34,984,022
		> Telecommunications Equipment 2.0%
	666,000	Finisar (a)		15,071,580
		Optical Subsystems & Components
	740,000	Ixia (a)		11,595,800
		Telecom Network Test Equipment
	281,000	CalAmp (a)		4,954,030
		Machine-to-machine Communications
	294,278	Infinera (a)		3,328,284
		Optical Networking Equipment
				34,949,694
		> Semiconductors & Related Equipment 1.8%
	383,000	Monolithic Power Systems		11,597,240
		High Performance Analog & Mixed Signal Integrated Circuits
	1,150,000	Atmel (a)		8,556,000
		Microcontrollers, Radio Frequency & Memory Semiconductors
	238,000	Ultratech (a)		7,211,400
		Semiconductor Equipment
	45,000	Hittite Microwave (a)		2,940,750
		Radio Frequency, Microwave & Millimeterwave Semiconductors
				30,305,390
		> Computer Hardware & Related Equipment 1.6%
	1,242,000	II-VI (a)		23,374,440
		Laser Optics & Specialty Materials
	83,000	Rogers (a)		4,936,840
		Printed Circuit Materials & High-performance Foams
				28,311,280
		> Mobile Communications 1.3%
	273,000	SBA Communications (a)		21,965,580
		Communications Towers
		> Financial Processors 0.7%
	139,000	Global Payments		7,100,120
		Credit Card Processor

Columbia Acorn USA

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Financial Processors—continued
	153,000	Liquidity Services (a)(b)	$	5,134,680
		E-Auctions for Surplus & Salvage Goods
				12,234,800
		> Contract Manufacturing 0.5%
	215,000	Plexus (a)		7,998,000
		Electronic Manufacturing Services
		> Internet Related 0.3%
	141,831	RetailMeNot (a)		5,044,929
		Digital Coupon Marketplace
		> Business Information & Marketing Services 0.2%
	228,294	RPX (a)		4,001,994
		Patent Aggregation & Defensive Patent Consulting
Information: Total				488,661,243
Industrial Goods & Services 20.3%
		> Machinery 14.8%
	675,200	Nordson		49,714,976
		Dispensing Systems for Adhesives & Coatings
	871,000	Ametek		40,083,420
		Aerospace/Industrial Instruments
	855,000	Donaldson		32,601,150
		Industrial Air Filtration
	606,000	HEICO		30,384,840
		FAA Approved Aircraft Replacement Parts
	436,000	Moog (a)		25,580,120
		Motion Control Products for Aerospace, Defense & Industrial Markets
	760,000	ESCO Technologies		25,254,800
		Automatic Electric Meter Readers
	237,000	Toro		12,880,950
		Turf Maintenance Equipment
	264,000	Kennametal		12,038,400
		Consumable Cutting Tools
	245,000	Generac		10,446,800
		Standby Power Generators
	46,000	Middleby (a)		9,609,860
		Manufacturer of Cooking Equipment
	97,000	Dorman Products		4,806,350
		Aftermarket Auto Parts Distributor
	65,000	Polypore International (a)(b)		2,663,050
		Battery Separators & Filtration Media
				256,064,716
		> Industrial Materials & Specialty Chemicals 2.0%
	539,000	Drew Industries		24,546,060
		RV & Manufactured Home Components

Number of Shares			Value
	290,000	Polyone	$	8,905,900
		Intermediate Stage Chemicals Producer
				33,451,960
		> Electrical Components 1.5%
	190,000	Acuity Brands		17,483,800
		Commercial Lighting Fixtures
	386,000	Thermon (a)		8,920,460
		Global Engineered Thermal Solutions
				26,404,260
		> Other Industrial Services 0.9%
	188,000	Forward Air		7,585,800
		Freight Transportation Between Airports
	151,000	KAR Auction Services		4,259,710
		Auto Auctions
	496,643	Acorn Energy (b)		2,930,194
		Fiber Optic Oil Well Monitoring & Evaluation
	10,616	TrueBlue (a)		254,890
		Temporary Industrial Labor
				15,030,594
		> Industrial Distribution 0.7%
	90,000	WESCO International (a)		6,887,700
		Industrial Distributor
	217,000	MRC Global (a)		5,815,600
		Industrial Distributor
				12,703,300
		> Waste Management 0.2%
	82,000	Waste Connections		3,723,620
		Solid Waste Management
		> Construction 0.2%
	86,000	Fortune Brands Home & Security		3,580,180
		Home Building Supplies & Small Locks
Industrial Goods & Services: Total				350,958,630
Consumer Goods & Services 14.8%
		> Travel 4.4%
	1,183,950	Avis Budget Group (a)		34,133,278
		Second Largest Car Rental Company
	427,000	Ryman Hospitality Properties (b)		14,735,770
		Convention Hotels
	614,000	Hertz (a)		13,606,240
		Largest U.S. Rental Car Operator
	173,000	Choice Hotels		7,471,870
		Franchisor of Budget Hotel Brands
	135,000	HomeAway (a)		3,780,000
		Vacation Rental Online Marketplace
	29,000	Vail Resorts		2,012,020
		Ski Resort Operator & Developer
				75,739,178

Number of Shares			Value
		> Retail 2.9%
	805,000	Pier 1 Imports	$	15,713,600
		Home Furnishing Retailer
	224,000	Shutterfly (a)		12,517,120
		Internet Photo-centric Retailer
	138,000	Casey's General Stores		10,143,000
		Owner/Operator of Convenience Stores
	145,000	Abercrombie & Fitch		5,128,650
		Teen Apparel Retailer
	135,000	Fifth & Pacific Companies (a)		3,392,550
		Global Lifestyle Brand
	46,400	Restoration Hardware Holdings (a)		2,939,440
		Specialty Home Furnishing Retailer
				49,834,360
		> Furniture & Textiles 2.3%
	333,814	Caesarstone (Israel) (a)		15,248,624
		Quartz Countertops
	688,000	Interface		13,649,920
		Modular Carpet
	657,000	Knoll		11,129,580
		Office Furniture
				40,028,124
		> Consumer Goods Distribution 1.5%
	358,000	Pool		20,094,540
		Swimming Pool Supplies & Equipment Distributor
	54,000	United Natural Foods (a)		3,629,880
		Natural/Organic Food Distributor
	127,000	The Chefs' Warehouse (a)		2,933,700
		Distributor of Specialty Foods
				26,658,120
		> Other Consumer Services 1.2%
	293,000	Lifetime Fitness (a)		15,080,710
		Sport & Fitness Club Operator
	252,000	Blackhawk Network (a)		6,055,560
		Third Party Distributer of Prepaid Content, Mostly Gift Cards
				21,136,270
		> Other Durable Goods 1.0%
	187,000	Cavco Industries (a)		10,649,650
		Manufactured Homes
	297,000	Select Comfort (a)		7,231,950
		Specialty Mattresses
				17,881,600
		> Food & Beverage 0.5%
	269,723	Boulder Brands (a)		4,326,357
		Healthy Food Products
	100,000	B&G Foods		3,455,000
		Acquirer of Small Food Brands
				7,781,357
		> Nondurables 0.5%
	175,000	Helen of Troy (a)		7,735,000
		Personal Care, Housewares, Healthcare & Home Environment Products

Number of Shares			Value
		> Restaurants 0.2%
	92,000	Fiesta Restaurant Group (a)	$	3,464,720
		Owns/Operates Two Restaurant Chains: Pollo Tropical & Taco Cabana
		> Apparel 0.2%
	475,000	Quiksilver (a)		3,339,250
		Action Sports Lifestyle Branded Apparel & Footwear
		> Educational Services 0.1%
	34,350	ITT Educational Services (a)(b)		1,064,850
		Post-secondary Degree Services
Consumer Goods & Services: Total				254,662,829
Finance 12.9%
		> Banks 7.1%
	801,000	MB Financial		22,620,240
		Chicago Bank
	993,000	Associated Banc-Corp		15,381,570
		Midwest Bank
	164,000	SVB Financial Group (a)		14,164,680
		Bank to Venture Capitalists
	392,597	Lakeland Financial		12,818,292
		Indiana Bank
	173,000	City National		11,532,180
		Bank & Asset Manager
	1,615,986	First Busey		8,419,287
		Illinois Bank
	228,000	Hancock Holding		7,154,640
		Gulf Coast Bank
	487,000	TCF Financial		6,954,360
		Great Lakes Bank
	566,750	Valley National Bancorp (b)		5,639,162
		New Jersey/New York Bank
	738,000	First Commonwealth		5,601,420
		Western Pennsylvania Bank
	695,000	TrustCo Bank		4,142,200
		New York State Bank
	171,826	Sandy Spring Bancorp		3,996,673
		Baltimore & Washington, D.C. Bank
	154,849	Guaranty Bancorp		2,119,883
		Colorado Bank
	89,700	Hudson Valley		1,684,566
		Metro New York City Bank
				122,229,153
		> Finance Companies 4.0%
	211,000	World Acceptance (a)(b)		18,973,120
		Personal Loans
	673,208	CAI International (a)		15,665,550
		International Container Leasing
	389,000	Textainer Group Holdings (b)		14,731,430
		Top International Container Leaser
	315,000	McGrath Rentcorp		11,245,500
		Temporary Space & IT Rentals

Columbia Acorn USA

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Finance Companies—continued
	264,072	H & E Equipment Services (a)	$	7,013,753
		Heavy Equipment Leasing
	91,000	Marlin Business Services		2,271,360
		Small Equipment Leasing
				69,900,713
		> Savings & Loans 0.8%
	393,487	ViewPoint Financial		8,133,376
		Texas Thrift
	128,000	Berkshire Hills Bancorp		3,214,080
		Northeast Thrift
	157,073	Simplicity Bancorp		2,442,485
		Los Angeles Savings & Loan
				13,789,941
		> Insurance 0.5%
	35,000	Enstar Group (a)		4,781,000
		Insurance/Reinsurance & Related Services
	45,000	Allied World Holdings		4,472,550
		Commercial Lines Insurance/Reinsurance
				9,253,550
		> Brokerage & Money Management 0.5%
	139,000	SEI Investments		4,296,490
		Mutual Fund Administration & Investment Management
	200,000	Kennedy-Wilson Holdings		3,712,000
		Global Distressed Real Estate
				8,008,490
Finance: Total				223,181,847
Health Care 11.2%
		> Biotechnology & Drug Delivery 6.4%
	604,000	Seattle Genetics (a)		26,473,320
		Antibody-based Therapies for Cancer
	321,100	Synageva Biopharma (a)		20,328,841
		Biotech Focused on Orphan Diseases
	550,000	NPS Pharmaceuticals (a)		17,495,500
		Orphan Drugs & Healthy Royalties
	167,338	BioMarin Pharmaceutical (a)		12,085,150
		Biotech Focused on Orphan Diseases
	160,377	Alnylam Pharmaceuticals (a)		10,265,731
		Biotech Developing Drugs for Rare Diseases
	476,000	ARIAD Pharmaceuticals (a)		8,758,400
		Biotech Focused on Cancer
	151,000	Sarepta Therapeutics (a)(b)		7,131,730
		Biotech Focused on Rare Diseases
	364,000	InterMune (a)		5,594,680
		Drugs for Pulmonary Fibrosis & Hepatitis C
	250,000	Coronado Biosciences (a)(b)		1,755,000
		Development-stage Biotech

Number of Shares			Value
	27,318	Ophthotech (a)	$	811,618
		Biotech Focused on Ophthalmic Drugs
	18,181	CymaBay Therapeutics (a)(c)(d)		3,091
		Diabetes Drug Development
				110,703,061
		> Medical Supplies 1.8%
	612,600	Cepheid (a)		23,915,904
		Molecular Diagnostics
	87,000	Techne		6,965,220
		Cytokines, Antibodies & Other Reagents for Life Science
				30,881,124
		> Health Care Services 1.4%
	960,000	Allscripts Healthcare Solutions (a)		14,275,200
		Health Care IT
	183,000	HealthSouth		6,309,840
		Inpatient Rehabilitation Facilities
	112,000	Envision Healthcare Holdings (a)		2,915,360
		Provider of Health Care Outsourcing Services
				23,500,400
		> Pharmaceuticals 0.9%
	742,000	Akorn (a)		14,602,560
		Develops, Manufactures & Sells Specialty Generic Drugs
	331,180	Alimera Sciences (a)(b)		1,245,237
		Ophthalmology-focused Pharmaceutical Company
				15,847,797
		> Medical Equipment & Devices 0.7%
	183,000	Sirona Dental Systems (a)		12,248,190
		Manufacturer of Dental Equipment
Health Care: Total				193,180,572
Other Industries 6.2%
		> Real Estate 5.3%
	832,000	Extra Space Storage		38,064,000
		Self Storage Facilities
	986,800	EdR		8,979,880
		Student Housing
	223,000	Coresite Realty		7,568,620
		Data Centers
	1,255,000	Kite Realty Group		7,442,150
		Community Shopping Centers
	491,000	Associated Estates Realty (b)		7,320,810
		Multifamily Properties
	356,000	St. Joe (a)(b)		6,984,720
		Florida Panhandle Landowner
	871,000	DCT Industrial Trust		6,262,490
		Industrial Properties
	91,000	Post Properties		4,096,820
		Multifamily Properties
	196,200	Biomed Realty Trust		3,647,358
		Life Science-focused Office Buildings

Number of Shares			Value
		> Real Estate—continued
	90,000	American Residential Properties (a)	$	1,584,900
		Single-family Rental Properties
				91,951,748
		> Transportation 0.9%
	468,091	Rush Enterprises, Class A (a)		12,409,092
	105,000	Rush Enterprises, Class B (a)		2,390,850
		Truck Sales & Service
				14,799,942
Other Industries: Total				106,751,690
Energy & Minerals 5.8%
		> Oil Services 2.6%
	464,000	Atwood Oceanics (a)		25,538,560
		Offshore Drilling Contractor
	182,000	Hornbeck Offshore (a)		10,454,080
		Supply Vessel Operator in U.S. Gulf of Mexico
	153,000	Gulfmark Offshore		7,786,170
		Operator of Offshore Supply Vessels
				43,778,810
		> Oil & Gas Producers 2.5%
	166,000	PDC Energy (a)		9,883,640
		Oil & Gas Producer in U.S.
	180,000	Rosetta Resources (a)		9,802,800
		Oil & Gas Producer Exploring in Texas
	116,000	SM Energy		8,954,040
		Oil & Gas Producer
	159,000	Laredo Petroleum (a)		4,719,120
		Permian Basin Oil Producer
	158,000	Approach Resources (a)		4,152,240
		Oil & Gas Producer in West Texas Permian
	130,832	Bill Barrett Corporation (a)(b)		3,285,191
		Oil & Gas Producer in U.S. Rockies
	41,576	Carrizo Oil & Gas (a)		1,551,201
		Oil & Gas Producer
	464,000	Quicksilver Resources (a)(b)		914,080
		Natural Gas & Coal Seam Gas Producer
	19,548	Matador Resources (a)		319,219
		Oil & Gas Producer in Texas & Louisiana
				43,581,531

Number of Shares			Value
		> Mining 0.7%
	70,000	Core Labs (Netherlands)	$	11,844,700
		Oil & Gas Reservoir Consulting
	546,000	Alexco Resource (a)(b)		780,780
		Mining, Exploration & Environmental Services
				12,625,480
Energy & Minerals: Total				99,985,821
Total Equities: 99.5% (Cost: $938,460,570)				1,717,382,632	(e)(f)
Short-Term Investments 0.7%
	12,638,003	JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%)		12,638,003
Total Short-Term Investments: 0.7% (Cost: $12,638,003)				12,638,003
Securities Lending Collateral 3.1%
	54,163,158	Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (g)		54,163,158
Total Securities Lending Collateral: (Cost: $54,163,158)				54,163,158
Total Investments: 103.3% (Cost: $1,005,261,731)(h)				1,784,183,793	(i)
Obligation to Return Collateral for Securities Loaned: (3.1)%				(54,163,158	)
Cash and Other Assets Less Liabilities: (0.2)%				(3,204,264	)
Net Assets: 100.0%			$	1,726,816,371

ADR - American Depositary Receipts

> Notes to Statement of Investments

(a) Non-income producing security.

(b) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $52,758,000.

Columbia Acorn USA

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

(d) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. This security is valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At September 30, 2013, the market value of this security amounted to $3,091, which represented less than 0.01% of total net assets. Additional information on this security is as follows:

Security				Acquisition Dates				Shares/Units				Cost				Value
CymaBay Therapeutics				2/11/00					18,181			$	1,999,910			$	3,091

(e) An affiliated person of the Fund, as defined in the Investment Company Act of 1940, may include any company in which the Fund owns five percent or more of its outstanding voting shares. Holdings and transactions in these affiliated companies during the period ended September 30, 2013, are as follows:

Security				Balance of Shares Held 12/31/12				Purchases/ Additions				Sales/ Reductions				Balance of Shares Held 9/30/13				Value				Dividend
RCM Technologies (1)					640,000				-				58,000				582,000			$	3,509,460			$	-

(1) At September 30, 2013, the Fund owned less than five percent of the company's outstanding voting shares.

(f) On September 30, 2013, the market value of foreign securities represented 1.97% of total net assets. The Fund's foreign portfolio was diversified as follows:

Country	Value		Percentage of Net Assets
Israel	$	15,248,624		0.88
Netherlands		11,844,700		0.69
India		6,938,940		0.40
Total Foreign Portfolio	$	34,032,264		1.97

(g) Investment made with cash collateral received from securities lending activity.

(h) At September 30, 2013, for federal income tax purposes, the cost of investments was $1,005,261,731 and net unrealized appreciation was $778,922,062 consisting of gross unrealized appreciation of $801,292,045 and gross unrealized depreciation of $22,369,983.

(i) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

• Level 1 — quoted prices in active markets for identical securities

• Level 2 — prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)

• Level 3 — prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including management's own assumptions about the factors market participants would use in pricing an investment)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.

> Notes to Statement of Investments

frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.

The following table summarizes the inputs used, as of September 30, 2013, in valuing the Fund's assets:

Investment Type	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equities
Information	$	488,661,243	$	-	$	-	$	488,661,243
Industrial Goods & Services		350,958,630		-		-		350,958,630
Consumer Goods & Services		254,662,829		-		-		254,662,829
Finance		223,181,847		-		-		223,181,847
Health Care		193,177,481		-		3,091		193,180,572
Other Industries		106,751,690		-		-		106,751,690
Energy & Minerals		99,985,821		-		-		99,985,821
Total Equities		1,717,379,541		-		3,091		1,717,382,632
Total Short-Term Investments		12,638,003		-		-		12,638,003
Total Securities Lending Collateral		54,163,158		-		-		54,163,158
Total Investments	$	1,784,180,702	$	-	$	3,091	$	1,784,183,793

There were no transfers of financial assets between levels 1 and 2 during the period.

The Fund does not hold any significant investments categorized as Level 3.

Columbia Acorn International Select

Major Portfolio Changes in the Third Quarter (Unaudited)

	Number of Shares
	6/30/13		9/30/13
Purchases
Asia
> Japan
Dentsu		0		164,000
Rinnai		104,500		122,000
Toyo Suisan Kaisha		125,000		154,800
Wacom		0		414,000
> Korea
CJ Corp		0		38,000
Kepco Plant Service & Engineering		76,000		142,919
Europe
> United Kingdom
Babcock International		186,936		416,504
> France
Neopost		117,000		153,000
> Switzerland
Partners Group		24,000		30,500
> Norway
Orkla		0		433,032
Subsea 7		0		171,000
> Spain
Viscofan		0		66,000
Other Countries
> Australia
IAG		690,000		1,976,000
> Canada
Goldcorp		21,500		271,000

	Number of Shares
	6/30/13		9/30/13
Sales
Asia
> Japan
Seven Bank		2,837,000		2,535,000
Start Today		796,000		375,000
> Taiwan
CTCI Corp		3,630,000		0
Far EasTone Telecom		9,985,000		9,640,000
Taiwan Mobile		4,622,000		2,950,000
> Singapore
Mapletree Commercial Trust		3,012,000		0
> Korea
Coway		88,800		66,800
> Hong Kong
Mapletree Greater China Commercial Trust		4,288,000		0
Europe
> United Kingdom
Smith & Nephew		688,000		439,000
Whitbread		95,000		70,000
> Denmark
Jyske Bank		119,000		73,000
> Germany
Wirecard		150,000		107,400
> Sweden
Hexagon		140,000		115,000
> Iceland
Marel		3,488,000		0
> Netherlands
Imtech		176,586		0
Other Countries
> Australia
Challenger Financial		1,836,000		1,674,000

Columbia Acorn International Select

Statement of Investments (Unaudited), September 30, 2013

Number of Shares			Value
			Equities: 96.3%
Asia 48.4%
		> Japan 21.1%
	759,000	NGK Spark Plug	$	16,845,240
		Automobile Parts
	375,000	Start Today		10,592,491
		Online Japanese Apparel Retailer
	122,000	Rinnai		9,066,303
		Gas Appliances for Household & Commercial Use
	2,535,000	Seven Bank		8,491,957
		ATM Processing Services
	164,000	Dentsu		6,256,161
		Advertising Agency
	600	Nippon Prologis REIT (a)		6,012,414
		Logistics REIT in Japan
	154,800	Toyo Suisan Kaisha		4,545,065
		Instant Noodle Manufacturer
	414,000	Wacom		3,982,453
		Computer Graphic Illustration Devices
	3,125	Orix JREIT		3,970,247
		Diversified REIT
	91,000	FamilyMart		3,941,531
		Convenience Store Operator
	206,000	Park24		3,665,715
		Parking Lot Operator
				77,369,577
		> Taiwan 9.4%
	9,640,000	Far EasTone Telecom		24,017,846
		Taiwan's Third Largest Mobile Operator
	2,950,000	Taiwan Mobile		10,463,401
		Taiwan's Second Largest Mobile Operator
				34,481,247
		> Singapore 9.0%
	9,514,000	Ascendas REIT		17,310,634
		Industrial Property Landlord
	10,847,000	Mapletree Logistics Trust		9,259,917
		Industrial Property Landlord
	5,869,000	Mapletree Industrial Trust		6,313,127
		Industrial Property Landlord
				32,883,678
		> Korea 4.1%
	142,919	Kepco Plant Service & Engineering		7,229,391
		Power Plant & Grid Maintenance
	38,000	CJ Corp		4,103,277
		Holding Company of Korean Consumer Conglomerate
	66,800	Coway		3,704,167
		Household Appliance Rental Service Provider
				15,036,835
		> Indonesia 3.0%
	11,903,000	Archipelago Resources (a)(b)(c)(d)		10,902,089
		Gold Mining Projects in Indonesia, Vietnam & the Philippines

Number of Shares			Value
		> Hong Kong 1.8%
	2,391,000	Melco International	$	6,425,947
		Macau Casino Operator
Asia: Total				177,099,373
Europe 22.6%
		> United Kingdom 9.4%
	900,000	Jardine Lloyd Thompson Group		13,768,753
		International Business Insurance Broker
	416,504	Babcock International		8,064,374
		Public Sector Outsourcer
	439,000	Smith & Nephew		5,479,478
		Medical Equipment & Supplies
	270,000	Telecity		3,627,957
		European Data Center Provider
	70,000	Whitbread		3,358,896
		The UK's Leading Hotelier & Coffee Shop
				34,299,458
		> Denmark 3.3%
	131,474	SimCorp		4,423,723
		Software for Investment Managers
	109,000	Novozymes		4,169,723
		Industrial Enzymes
	73,000	Jyske Bank (e)		3,625,437
		Danish Bank
				12,218,883
		> France 3.1%
	153,000	Neopost (a)		11,142,063
		Postage Meter Machines
		> Switzerland 2.0%
	30,500	Partners Group		7,477,028
		Private Markets Asset Management
		> Norway 1.8%
	171,000	Subsea 7		3,554,650
		Offshore Subsea Contractor
	433,032	Orkla		3,154,168
		Food & Brands, Aluminum, Chemicals Conglomerate
				6,708,818
		> Spain 1.0%
	66,000	Viscofan		3,774,209
		Sausage Casings Maker
		> Germany 1.0%
	107,400	Wirecard		3,673,813
		Online Payment Processing & Risk Management
		> Sweden 1.0%
	115,000	Hexagon		3,467,876
		Design, Measurement & Visualization Software & Equipment
Europe: Total				82,762,148

Columbia Acorn International Select

Statement of Investments (Unaudited), continued

Number of Shares			Value
Other Countries 18.1%
		> Australia 7.1%
	1,976,000	IAG	$	10,832,133
		General Insurance Provider
	1,674,000	Challenger Financial		8,597,253
		Largest Annuity Provider
	1,700,000	Regis Resources (e)		6,433,704
		Gold Mining in Australia
				25,863,090
		> Canada 5.6%
	202,000	CCL Industries		13,399,990
		Largest Global Label Converter
	271,000	Goldcorp		7,048,710
		Gold Mining
				20,448,700
		> South Africa 2.8%
	846,448	Coronation Fund Managers		5,783,356
		South African Fund Manager
	50,000	Naspers		4,623,590
		Media in Africa, China, Russia & Other Emerging Markets
				10,406,946
		> United States 2.6%
	66,000	SM Energy		5,094,540
		Oil & Gas Producer
	82,000	Atwood Oceanics (e)		4,513,280
		Offshore Drilling Contractor
				9,607,820
Other Countries: Total				66,326,556
Latin America 7.2%
		> Guatemala 2.9%
	588,000	Tahoe Resources (e)		10,583,486
		Silver Project in Guatemala
		> Brazil 2.7%
	11,561,000	Beadell Resources (e)		10,020,606
		Gold Mining in Brazil
		> Mexico 1.0%
	243,000	Fresnillo		3,827,713
		Silver & Metal Byproduct Mining in Mexico

Number of Shares			Value
		> Uruguay 0.6%
	191,666	Union Agriculture Group (b)(c)(e)	$	2,054,660
		Farmland Operator in Uruguay
Latin America: Total				26,486,465
Total Equities: 96.3% (Cost: $280,991,953)				352,674,542	(f)
Short-Term Investments 6.0%
	11,075,902	JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%)		11,075,902
	10,858,531	JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%)		10,858,531
Total Short-Term Investments: 6.0% (Cost: $21,934,433)				21,934,433
Securities Lending Collateral 1.6%
	6,025,639	Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (g)		6,025,639
Total Securities Lending Collateral: (Cost: $6,025,639)				6,025,639
Total Investments: 103.9% (Cost: $308,952,025)(h)				380,634,614	(i)
Obligation to Return Collateral for Securities Loaned: (1.6)%				(6,025,639	)
Cash and Other Assets Less Liabilities: (2.3)%				(8,345,276	)
Net Assets: 100.0%			$	366,263,699

REIT - Real Estate Investment Trust

> Notes to Statement of Investments

(a) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $5,729,059.

(b) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At September 30, 2013, the market value of these securities amounted to $12,956,749, which represented 3.54% of total net assets. Additional information on these securities is as follows:

Security	Acquisition Dates	Shares/Units		Cost		Value
Archipelago Resources	12/20/10-9/26/13		11,903,000	$	12,066,977	$	10,902,089
Union Agriculture Group	12/8/10-6/27/12		191,666		2,200,000		2,054,660
				$	14,266,977	$	12,956,749

> Notes to Statement of Investments

(d) Units represent shares of security and related put options received through company restructuring. Additional information on the purchased options received is as follows:

Security

Option Shares

Exercise Price

Expiration Date (1)

Archipelago Resources

11,903,000

GBP

0.58

October 31, 2014

GBP - British Pound

(e) Non-income producing security.

(f) On September 30, 2013, the Fund's total investments were denominated in currencies as follows:

Currency	Value		Percentage of Net Assets
Japanese Yen	$	77,369,577		21.1
British Pound		49,029,260		13.4
Australian Dollar		35,883,696		9.8
Taiwan Dollar		34,481,247		9.4
Singapore Dollar		32,883,678		9.0
Canadian Dollar		23,983,477		6.5
United States Dollar		18,711,189		5.1
Euro		18,590,085		5.1
Other currencies less than 5% of total net assets		61,742,333		16.9
Total Equities	$	352,674,542		96.3

(g) Investment made with cash collateral received from securities lending activity.

(h) At September 30, 2013, for federal income tax purposes, the cost of investments was $308,952,025 and net unrealized appreciation was $71,682,589 consisting of gross unrealized appreciation of $77,883,776 and gross unrealized depreciation of $6,201,187.

(i) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

At September 30, 2013, the Fund had entered into the following forward foreign currency exchange contracts:

Forward Foreign
Currency Exchange
Contracts to Buy

Forward Foreign
Currency Exchange
Contracts to Sell

Principal Amount
in Foreign Currency

Principal Amount
in U.S. Dollar

Settlement
Date

Unrealized
Appreciation
(Depreciation)

USD

ZAR

90,012,600

9,000,000

10/15/13

53,102

The counterparty for all forward foreign currency exchange contracts is State Street Bank and Trust Company.

USD - United States Dollar

ZAR - South African Rand

Fair Value Measurements

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.

Columbia Acorn International Select

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

The following table summarizes the inputs used, as of September 30, 2013, in valuing the Fund's assets:

Investment Type	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equities
Asia	$	-	$	166,197,284	$	10,902,089	$	177,099,373
Europe		-		82,762,148		-		82,762,148
Other Countries		30,056,520		36,270,036		-		66,326,556
Latin America		10,583,486		13,848,319		2,054,660		26,486,465
Total Equities		40,640,006		299,077,787		12,956,749		352,674,542
Total Short-Term Investments		21,934,433		-		-		21,934,433
Total Securities Lending Collateral		6,025,639		-		-		6,025,639
Total Investments	$	68,600,078	$	299,077,787	$	12,956,749	$	380,634,614
Unrealized Appreciation on Forward Foreign Currency Exchange Contracts		-		53,102		-		53,102
Total	$	68,600,078	$	299,130,889	$	12,956,749	$	380,687,716

The Fund's assets assigned to the Level 2 input category are generally valued using a market approach, in which a security's value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. Foreign equities are generally valued at the last sale price on the foreign exchange or market on which they trade. The Fund may use a statistical fair valuation model, in accordance with the policy adopted by the Board, provided by an independent third party to value securities principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. These models take into account available market data including intraday index, ADR, and ETF movements. Forward foreign currency exchange contracts are valued at the prevailing forward exchange rate of the underlying currencies.

There were no transfers of financial assets between levels 1 and 2 during the period.

The following table reconciles asset balances for the period ending September 30, 2013, in which significant observable and/or unobservable inputs (Level 3) were used in determining value:

Investments in Securities	Balance as of December 31, 2012		Realized Gain/(Loss)		Change in Unrealized Appreciation (Depreciation)			Purchases		Sales		Transfers into Level 3		Transfers out of Level 3		Balance as of September 30, 2013
Equities
Asia	$	-	$	-	$	(693,511	)	$	741,091	$	-	$	10,854,509	$	-	$	10,902,089
Latin America		1,962,660		-		92,000			-		-		-		-		2,054,660
	$	1,962,660	$	-	$	(601,511	)	$	741,091	$	-	$	10,854,509	$	-	$	12,956,749

The information in the above reconciliation table represents fiscal year to date activity for any securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period.

The change in unrealized depreciation attributed to securities owned at September 30, 2013, which were valued using significant unobservable inputs (Level 3), amounted to $601,511.

> Notes to Statement of Investments

Quantitative information pertaining to Level 3 unobservable fair value measurements

Fair Value at
9/30/13

Valuation Technique(s)

Unobservable Input(s)

Range (Weighted
Average)

Equities

10,902,089

Discounted cash flow

Enterprise valuation and illiquid discount

% – 22.7%

Columbia Acorn International Select

Portfolio Diversification (Unaudited)

At September 30, 2013, the Fund's portfolio investments as a percentage of net assets were diversified as follows:

	Value		Percentage of Net Assets
> Consumer Goods & Services
Other Durable Goods	$	25,911,544		7.1
Retail		14,534,022		4.0
Nondurables		13,399,990		3.7
Food & Beverage		8,319,275		2.3
Other Consumer Services		7,807,444		2.1
Casinos & Gaming		6,425,946		1.7
Restaurants		3,358,896		0.9
		79,757,117		21.8
> Information
Mobile Communications		34,481,247		9.4
Business Software		7,891,599		2.1
Advertising		6,256,161		1.7
Internet Related		4,623,590		1.3
Computer Hardware & Related Equipment		3,982,453		1.1
Financial Processors		3,673,813		1.0
Computer Services		3,627,957		1.0
		64,536,820		17.6
> Energy & Minerals
Mining		48,816,309		13.3
Oil Services		8,067,930		2.2
Oil & Gas Producers		5,094,540		1.4
Agricultural Commodities		2,054,659		0.6
		64,033,438		17.5
> Finance
Insurance		33,198,139		9.1
Brokerage & Money Management		13,260,383		3.6
Banks		12,117,395		3.3
		58,575,917		16.0

	Value			Percentage of Net Assets
> Other Industries
Real Estate	$	42,866,339			11.7
		42,866,339			11.7
> Industrial Goods & Services
Outsourcing Services		15,293,765			4.2
Machinery		11,142,063			3.0
Industrial Materials & Specialty Chemicals		4,169,723			1.1
Other Industrial Services		3,665,714			1.0
Conglomerates		3,154,168			0.9
		37,425,433			10.2
> Health Care
Medical Equipment & Devices		5,479,478			1.5
		5,479,478			1.5
Total Equities:		352,674,542			96.3
Short-Term Investments:		21,934,433			6.0
Securities Lending Collateral:		6,025,639			1.6
Total Investments:		380,634,614			103.9
Obligation to Return Collateral for Securities Loaned:		(6,025,639	)		(1.6	)
Cash and Other Assets Less Liabilities:		(8,345,276	)		(2.3	)
Net Assets:	$	366,263,699			100.0

Columbia Acorn Select

Major Portfolio Changes in the Third Quarter (Unaudited)

	Number of Shares
	6/30/13		9/30/13
Purchases
Industrial Goods & Services
Airgas		74,233		94,064
Information
Ansys		102,000		138,000
Trimble Navigation		330,000		490,000
Finance
SEI Investments		687,000		725,000
Consumer Goods & Services
Casey's General Stores		0		164,000
Lifetime Fitness		233,000		275,000
Energy & Minerals
Rowan		0		260,000
Other Industries
Post Properties		0		430,000

	Number of Shares
	6/30/13		9/30/13
Sales
Industrial Goods & Services
Donaldson		940,000		920,000
Forward Air		160,000		107,000
Information
Crown Castle International		395,000		265,000
Sanmina-SCI		1,076,926		740,000
SBA Communications		364,000		350,000
WNS - ADR (India)		2,470,000		2,055,960
Finance
CNO Financial Group		3,863,000		2,970,000
Discover Financial Services		750,000		678,000
Consumer Goods & Services
Hertz		1,870,000		1,643,000
lululemon athletica		38,000		0
RexLot Holdings (China)		57,875,000		0
Ryman Hospitality Properties		444,783		0
Energy & Minerals
Pacific Rubiales Energy (Colombia)		690,000		410,000
Heath Care
Seattle Genetics		388,000		363,000
Other Industries
Biomed Realty Trust		852,000		235,000
Dupont Fabros Technology		300,000		0

Columbia Acorn Select

Statement of Investments (Unaudited), September 30, 2013

Number of Shares			Value
			Equities: 98.1%
Industrial Goods & Services 24.7%
		> Machinery 18.5%
	1,130,000	Ametek	$	52,002,600
		Aerospace/Industrial Instruments
	920,000	Donaldson		35,079,600
		Industrial Air Filtration
	375,000	Pall		28,890,000
		Life Science, Water & Industrial Filtration
	587,000	Kennametal		26,767,200
		Consumable Cutting Tools
	288,000	Nordson		21,205,440
		Dispensing Systems for Adhesives & Coatings
				163,944,840
		> Outsourcing Services 2.5%
	790,000	Quanta Services (a)		21,732,900
		Electrical & Telecom Construction Services
		> Industrial Materials & Specialty Chemicals 2.1%
	265,000	FMC Corporation		19,005,800
		Niche Specialty Chemicals
		> Industrial Distribution 1.1%
	94,064	Airgas		9,975,487
		Industrial Gas Distributor
		> Other Industrial Services 0.5%
	107,000	Forward Air		4,317,450
		Freight Transportation Between Airports
Industrial Goods & Services: Total				218,976,477
Information 23.9%
		> Mobile Communications 5.4%
	350,000	SBA Communications (a)		28,161,000
		Communications Towers
	265,000	Crown Castle International (a)		19,352,950
		Communications Towers
				47,513,950
		> Computer Services 4.9%
	2,055,960	WNS - ADR (India) (a)		43,627,471
		Offshore Business Process Outsourcing Services
		> Instrumentation 4.5%
	107,000	Mettler-Toledo International (a)		25,689,630
		Laboratory Equipment
	490,000	Trimble Navigation (a)		14,557,900
		GPS-based Instruments
				40,247,530

Number of Shares			Value
		> Computer Hardware & Related Equipment 3.9%
	445,000	Amphenol	$	34,434,100
		Electronic Connectors
		> Telecommunications Equipment 1.9%
	195,000	F5 Networks (a)		16,723,200
		Internet Traffic Management Equipment
		> Contract Manufacturing 1.5%
	740,000	Sanmina-SCI (a)		12,942,600
		Electronic Manufacturing Services
		> Business Software 1.3%
	138,000	Ansys (a)		11,939,760
		Simulation Software for Engineers & Designers
		> Semiconductors & Related Equipment 0.5%
	575,000	Atmel (a)		4,278,000
		Microcontrollers, Radio Frequency & Memory Semiconductors
Information: Total				211,706,611
Finance 16.4%
		> Banks 5.2%
	445,000	City National		29,663,700
		Bank & Asset Manager
	1,043,000	Associated Banc-Corp		16,156,070
		Midwest Bank
				45,819,770
		> Insurance 4.8%
	2,970,000	CNO Financial Group		42,768,000
		Life, Long-term Care & Medical Supplement Insurance
		> Credit Cards 3.9%
	678,000	Discover Financial Services		34,266,120
		Credit Card Company
		> Brokerage & Money Management 2.5%
	725,000	SEI Investments		22,409,750
		Mutual Fund Administration & Investment Management
Finance: Total				145,263,640
Consumer Goods & Services 16.1%
		> Travel 7.1%
	1,643,000	Hertz (a)		36,408,880
		Largest U.S. Rental Car Operator
	238,000	Vail Resorts		16,512,440
		Ski Resort Operator & Developer
	220,000	Choice Hotels		9,501,800
		Franchisor of Budget Hotel Brands
				62,423,120

Number of Shares			Value
		> Retail 4.0%
	129,000	ULTA (a)	$	15,410,340
		Specialty Beauty Product Retailer
	164,000	Casey's General Stores		12,054,000
		Owner/Operator of Convenience Stores
	215,000	Best Buy		8,062,500
		Consumer Electronic Specialty Retailer
				35,526,840
		> Other Consumer Services 3.0%
	275,000	Lifetime Fitness (a)		14,154,250
		Sport & Fitness Club Operator
	435,000	Blackhawk Network (a)		10,453,050
		Third Party Distributer of Prepaid Content, Mostly Gift Cards
	1,109,335	IFM Investments (Century 21 China RE) - ADR (China) (a)(b)		1,996,803
		Real Estate Services in China
				26,604,103
		> Apparel 1.2%
	89,000	PVH		10,563,410
		Apparel Wholesaler & Retailer
		> Educational Services 0.7%
	198,000	ITT Educational Services (a)(c)		6,138,000
		Post-secondary Degree Services
		> Food & Beverage 0.1%
	1,500,000	GLG Life Tech (Canada) (a)		1,223,242
		Produce an All-natural Sweetener Extracted from the Stevia Plant
Consumer Goods & Services: Total				142,478,715
Energy & Minerals 8.6%
		> Oil & Gas Producers 4.6%
	3,600,000	Canacol (Colombia) (a)		15,412,844
		Oil Producer in South America
	410,000	Pacific Rubiales Energy (Colombia)		8,096,112
		Oil Production & Exploration in Colombia
	20,600,000	Shamaran Petroleum (Iraq) (a)		7,699,626
		Oil Exploration & Production in Kurdistan
	24,000,000	Canadian Overseas Petroleum (United Kingdom) (a)(b)(d)		6,972,477
	12,000,000	Canadian Overseas Petroleum - Warrants (United Kingdom) (a)(d)(e)		11,965
		Oil & Gas Exploration/Production in the North Sea
	12,000,000	Petromanas (Canada) (a)		1,572,739
		Exploring for Oil in Albania
	33,700,000	Petrodorado Energy (Colombia) (a)(b)		1,308,674
		Oil & Gas Exploration & Production in Colombia, Peru & Paraguay
				41,074,437

Number of Shares			Value
		> Agricultural Commodities 2.1%
	1,742,424	Union Agriculture Group (Uruguay) (a)(d)(e)	$	18,678,786
		Farmland Operator in Uruguay
		> Oil Services 1.1%
	260,000	Rowan (a)		9,547,200
		Contract Offshore Driller
		> Mining 0.6%
	1,550,000	Kirkland Lake Gold (Canada) (a)		5,221,591
		Gold Mining
		> Alternative Energy 0.2%
	2,000,000	Synthesis Energy Systems (China) (a)		1,484,000
		Owner/Operator of Gasification Plants
Energy & Minerals: Total				76,006,014
Health Care 5.7%
		> Medical Supplies 3.9%
	464,000	Cepheid (a)		18,114,560
		Molecular Diagnostics
	163,000	Henry Schein (a)		16,903,100
		Largest Distributor of Healthcare Products
				35,017,660
		> Biotechnology & Drug Delivery 1.8%
	363,000	Seattle Genetics (a)		15,910,290
		Antibody-based Therapies for Cancer
Health Care: Total				50,927,950
Other Industries 2.7%
		> Real Estate 2.7%
	430,000	Post Properties		19,358,600
		Multifamily Properties
	235,000	Biomed Realty Trust		4,368,650
		Life Science-focused Office Buildings
				23,727,250
Other Industries: Total				23,727,250
Total Equities: 98.1% (Cost: $559,809,911)				869,086,657	(f)
Short-Term Investments 1.8%
	16,171,524	JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%)		16,171,524
Total Short-Term Investments: 1.8% (Cost: $16,171,524)				16,171,524

Columbia Acorn Select

Statement of Investments (Unaudited), continued

Number of Shares			Value
Securities Lending Collateral 0.5%
	4,714,875	Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (g)	$	4,714,875
Total Securities Lending Collateral: (Cost: $4,714,875)				4,714,875
Total Investments: 100.4% (Cost: $580,696,310)(h)				889,973,056	(i)

	Value
Obligation to Return Collateral for Securities Loaned: (0.5)%	$	(4,714,875	)
Cash and Other Assets Less Liabilities: 0.1%		972,659
Net Assets: 100.0%	$	886,230,840

ADR - American Depositary Receipts

> Notes to Statement of Investments

(a) Non-income producing security.

Security	Balance of Shares Held 12/31/12		Purchases/ Additions		Sales/ Reductions		Balance of Shares Held 9/30/13		Value		Dividend
WNS - ADR (1)		3,034,100		-		978,140		2,055,960	$	43,627,471	$	-
Canadian Overseas Petroleum		24,000,000		-		-		24,000,000		6,972,477		-
IFM Investments (Century 21 China RE) - ADR		1,300,000		-		190,665		1,109,335		1,966,803		-
Petrodorado Energy		33,700,000		-		-		33,700,000		1,308,674		-
Globalstar (1)		19,000,000		-		19,000,000		-		-		-
Total of Affiliated Transactions		81,034,100		-		20,168,805		60,865,295	$	53,875,425	$	-

(1) At September 30, 2013, the Fund owned less than five percent of the company's outstanding voting shares.

The aggregate cost and value of these companies at September 30, 2013, was $34,380,342 and $10,247,954, respectively. Investments in affiliated companies represented 1.16% of the Fund's total net assets at September 30, 2013.

(c) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $4,603,500.

(d) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At September 30, 2013, the market value of these securities amounted to $25,663,228, which represented 2.90% of total net assets. Additional information on these securities is as follows:

Security	Acquisition Dates	Shares/Units		Cost		Value
Union Agriculture Group	12/8/10-6/27/12		1,742,424	$	20,000,000	$	18,678,786
Canadian Overseas Petroleum	11/24/10		24,000,000		10,260,435		6,972,477
Canadian Overseas Petroleum - Warrants	11/24/10		12,000,000		1,501,964		11,965
				$	31,762,399	$	25,663,228

(e) Illiquid security.

(f) On September 30, 2013, the market value of foreign securities represented 12.79% of total net assets. The Fund's foreign portfolio was diversified as follows:

Country	Value		Percentage of Net Assets
India	$	43,627,471		4.92
Colombia		24,817,630		2.80
Uruguay		18,678,786		2.11
Canada		8,017,572		0.91
Iraq		7,699,626		0.87
United Kingdom		6,984,442		0.79
China		3,480,803		0.39
Total Foreign Portfolio	$	113,306,330		12.79

(g) Investment made with cash collateral received from securities lending activity.

> Notes to Statement of Investments

(h) At September 30, 2013, for federal income tax purposes, the cost of investments was $580,696,310 and net unrealized appreciation was $309,276,746 consisting of gross unrealized appreciation of $364,856,347 and gross unrealized depreciation of $55,579,601.

(i) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.

The following table summarizes the inputs used, as of September 30, 2013, in valuing the Fund's assets:

Investment Type	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equities
Industrial Goods & Services	$	218,976,477	$	-	$	-	$	218,976,477
Information		211,706,611		-		-		211,706,611
Finance		145,263,640		-		-		145,263,640
Consumer Goods & Services		142,478,715		-		-		142,478,715
Energy & Minerals		50,342,786		6,984,442		18,678,786		76,006,014
Health Care		50,927,950		-		-		50,927,950
Other Industries		23,727,250		-		-		23,727,250
Total Equities		843,423,429		6,984,442		18,678,786		869,086,657
Total Short-Term Investments		16,171,524		-		-		16,171,524
Total Securities Lending Collateral		4,714,875		-		-		4,714,875
Total Investments	$	864,309,828	$	6,984,442	$	18,678,786	$	889,973,056

Columbia Acorn Select

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:

Transfers In				Transfers Out
Level 1		Level 2		Level 1		Level 2
$	391,500	$	-	$	-	$	391,500

Financial assets were transferred from Level 2 to Level 1 as trading resumed during the period.

The following table reconciles asset balances for the period ending September 30, 2013, in which significant observable and/or unobservable inputs (Level 3) were used in determining value:

Investments in Securities	Balance as of December 31, 2012		Realized Gain/(Loss)		Change in Unrealized Appreciation (Depreciation)		Purchases		Sales		Transfers into Level 3		Transfers out of Level 3		Balance as of September 30, 2013
Equities
Energy & Minerals	$	17,842,422	$	-	$	836,364	$	-	$	-	$	-	$	-	$	18,678,786
	$	17,842,422	$	-	$	836,364	$	-	$	-	$	-	$	-	$	18,678,786

The change in unrealized appreciation attributed to securities owned at September 30, 2013, which were valued using significant unobservable inputs (Level 3), amounted to $836,364.

Quantitative information pertaining to Level 3 unobservable fair value measurements

Fair Value
at 9/30/13

Valuation Technique(s)

Unobservable Input(s)

Range (Weighted
Average)

Equities

18,678,786

Market comparable companies

Discount for lack of marketability

% to 5% (-8%)

Columbia Thermostat Fund

Statement of Investments (Unaudited), September 30, 2013

Number of Shares			Value
		> Affiliated Bond Funds 74.0%
	39,372,265	Columbia Short Term Bond Fund, Class I (a)	$	392,147,758
	32,524,483	Columbia Intermediate Bond Fund, Class I (a)		294,997,064
	29,805,667	Columbia Income Opportunities Fund, Class I (a)		294,181,932
Total Affiliated Bond Funds: (Cost: $989,392,907)				981,326,754
		> Affiliated Stock Funds 25.4%
	1,478,284	Columbia Acorn International, Class I (a)		68,917,625
	3,871,358	Columbia Dividend Income Fund, Class I (a)		66,238,933
	1,394,130	Columbia Acorn Fund, Class I (a)		51,192,466
	2,506,612	Columbia Contrarian Core Fund, Class I (a)		49,781,306
	1,870,110	Columbia Select Large Cap Growth Fund, Class I (a)(b)		34,223,015
	1,136,915	Columbia Acorn Select, Class I (a)		33,800,475
	1,962,502	Columbia Large Cap Enhanced Core Fund, Class I (a)		33,284,043
Total Affiliated Stock Funds: (Cost: $281,885,821)				337,437,863

Number of Shares			Value
		> Short-Term Investments 0.4%
	6,382,740	JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%)	$	6,382,740
Total Short-Term Investments: (Cost: $6,382,740)				6,382,740
Total Investments: 99.8% (Cost: $1,277,661,468)(c)				1,325,147,357	(d)
Cash and Other Assets Less Liabilities: 0.2%				2,078,855
Net Assets: 100.0%			$	1,327,226,212

> Notes to Statement of Investments

(a) An affiliated person of the Fund, as defined in the Investment Company Act of 1940, may include any company in which the Fund owns five percent or more of its outstanding voting shares. Holdings and transactions in these affiliated companies during the period ended September 30, 2013, are as follows:

Security	Balance of Shares Held 12/31/12		Purchases/ Additions		Sales/ Reductions		Balance of Shares Held 9/30/13		Value		Dividend
Columbia Short Term Bond Fund, Class I		18,877,615		33,384,185		12,889,535		39,372,265	$	392,147,758	$	2,408,442
Columbia Intermediate Bond Fund, Class I		14,950,850		27,802,311		10,228,678		32,524,483		294,997,064		5,098,030
Columbia Income Opportunities Fund, Class I		14,098,807		24,991,896		9,285,036		29,805,667		294,181,932		9,845,884
Columbia Acorn International, Class I		1,899,103		1,896,973		2,317,792		1,478,284		68,917,625		523,989
Columbia Dividend Income Fund, Class I		5,273,173		4,788,613		6,190,428		3,871,358		66,238,933		1,150,582
Columbia Acorn Fund, Class I		1,924,624		1,879,574		2,410,068		1,394,130		51,192,466		44,505
Columbia Contrarian Core Fund, Class I		3,628,435		3,235,475		4,357,298		2,506,612		49,781,306		-
Columbia Select Large Cap Growth Fund, Class I		2,813,972		2,574,905		3,518,767		1,870,110		34,223,015		-
Columbia Acorn Select, Class I		1,523,738		1,538,803		1,925,626		1,136,915		33,800,475		134,566
Columbia Large Cap Enhanced Core Fund, Class I		2,773,358		2,516,623		3,327,479		1,962,502		33,284,043		117,711
Total of Affiliated Transactions		67,763,675		104,609,358		56,450,707		115,922,326	$	1,318,764,617	$	19,323,709

The aggregate cost and value of these companies at September 30, 2013, was $1,271,278,728 and $1,318,764,617, respectively. Investments in affiliated companies represented 99.36% of the Fund's total net assets at September 30, 2013.

(b) Non-income producing security.

(c) At September 30, 2013, for federal income tax purposes, the cost of investments was $1,277,661,468 and net unrealized appreciation was $47,485,889 consisting of gross unrealized appreciation of $55,552,042 and gross unrealized depreciation of $8,066,153.

Columbia Thermostat Fund

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

(d) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include mutual funds whose NAVs are published each day.

Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.

The following table summarizes the inputs used, as of September 30, 2013, in valuing the Fund's assets:

Investment Type	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Total Affiliated Bond Funds	$	981,326,754	$	-	$	-	$	981,326,754
Total Affiliated Stock Funds		337,437,863		-		-		337,437,863
Total Short-Term Investments		6,382,740		-		-		6,382,740
Total Investments	$	1,325,147,357	$	-	$	-	$	1,325,147,357

There were no transfers of financial assets between levels 1 and 2 during the period.

Columbia Acorn Emerging Markets Fund

Major Portfolio Changes in the Third Quarter (Unaudited)

	Number of Shares
	6/30/13		9/30/13
Purchases
Asia
> Taiwan
Advantech		493,169		624,169
Chipbond		0		1,709,200
Chroma Ate		888,990		1,306,990
CTCI Corp		1,413,000		2,126,000
Far EasTone Telecom		1,896,000		2,311,000
Flexium Interconnect		431,000		823,144
Ginko International		98,000		158,000
Lite-On Technology		573,000		2,186,631
PC Home		318,000		496,000
Radiant Opto-Electronics		0		790,000
St. Shine Optical		92,000		146,000
Taiwan Hon Chuan		974,000		1,852,000
> Indonesia
Ace Indonesia		20,804,690		44,302,690
Arwana Citramulia		18,618,000		38,965,000
Matahari Department Store		1,443,000		3,022,500
Mayora Indah		530,000		1,017,000
MNC Skyvision		8,495,500		28,369,500
Surya Citra Media		7,556,079		15,853,079
Tower Bersama Infrastructure		6,061,109		6,758,109
> Hong Kong
ASM Pacific		167,700		350,100
L'Occitane International		711,250		979,750
Melco International		2,286,000		3,398,000
Sa Sa International		1,595,799		5,023,799
Vitasoy International		0		2,258,000
> India
Adani Ports & Special Economic Zone		633,723		1,617,116
Bosch		10,503		20,671
Colgate Palmolive India		71,675		147,861
Redington India		1,948,273		3,122,282
TTK Prestige		31,154		51,731
United Breweries		217,891		219,155
> Philippines
Int'l Container Terminal		836,317		1,228,597
Melco Crown (Philippines) Resorts		6,983,200		23,367,600
Puregold Price Club		0		3,047,900
RFM Corporation		0		17,031,000
Security Bank		0		849,560
> Thailand
Home Product Center		6,255,500		14,457,900
Robinson's Department Store		1,181,500		2,674,700
Samui Airport Property Fund		5,178,500		6,008,500

	Number of Shares
	6/30/13		9/30/13
> China
AMVIG Holdings		3,644,000		6,386,000
Biostime		98,500		475,000
WuXi PharmaTech - ADR		76,213		105,365
> Cambodia
Nagacorp		4,518,000		6,436,000
> Japan
Kansai Paint		139,760		261,760
> Korea
Paradise Co		131,006		133,884
> Singapore
Super Group		494,000		830,000
> Malaysia
Aeon		0		232,900
Europe
> Russia
Moscow Exchange		0		2,185,581
Yandex		79,673		102,420
> Finland
Tikkurila		80,474		154,160
Vacon		40,871		65,855
> Sweden
Hexagon		138,010		189,560
> Kazakhstan
Halyk Savings Bank of Kazakhstan - GDR		432,482		698,908
> United Kingdom
Cable and Wireless		2,776,258		6,749,624
> Italy
Pirelli		200,846		320,827
> Turkey
Bizim Toptan		139,435		311,893
Latin America
> Mexico
Genomma Lab Internacional		872,100		1,506,700
Gruma		418,000		739,700
Grupo Aeroportuario del Sureste - ADR		15,922		25,190
Qualitas		449,700		1,824,000
> Brazil
Beadell Resources		2,791,286		3,975,346
Linx		102,100		172,600
Localiza Rent A Car		119,670		377,870
Odontoprev		399,100		674,200

Columbia Acorn Emerging Markets Fund

Major Portfolio Changes in the Third Quarter (Unaudited), continued

	Number of Shares
	6/30/13		9/30/13
Purchases (continued)
Latin America—continued
> Colombia
Isagen		2,106,605		3,635,863
> Chile
Empresas Hites		2,134,691		3,189,994
Other Countries
> South Africa
Coronation Fund Managers		764,187		1,156,120
Massmart Holdings		158,152		228,382
Mr. Price		144,531		224,031
Rand Merchant Insurance		1,296,769		1,927,792
> United States
Atwood Oceanics		37,826		67,433
Textainer Group Holdings		69,220		120,163
> Canada
Alliance Grain Traders		114,251		153,291
CAE		157,990		315,195

	Number of Shares
	6/30/13		9/30/13
Sales
Asia
> Taiwan
CHC Healthcare		565,000		56,266
Lung Yen		498,500		93,500
> Hong Kong
AAC Technologies		386,527		0
Lifestyle International		1,526,089		0
Mapletree Greater China Commercial Trust		2,123,000		0
> India
Yes Bank		308,035		0
> Philippines
Manila Water Company		1,929,065		0
> Mongolia
Mongolian Mining		7,965,100		7,747,100
Europe
> Switzerland
Dufry Group		12,870		0
Latin America
> Mexico
Bolsa Mexicana de Valores		673,800		306,161
> Brazil
Arcos Dorados		131,431		0
Multiplus		105,500		0

Columbia Acorn Emerging Markets Fund

Statement of Investments (Unaudited), September 30, 2013

Number of Shares			Value
			Equities: 96.8%
Asia 56.6%
		> Taiwan 14.8%
	2,311,000	Far EasTone Telecom	$	5,757,805
		Taiwan's Third Largest Mobile Operator
	146,000	St. Shine Optical		4,023,287
		World's Leading Disposable Contact Lens OEM (Original Equipment Manufacturer)
	1,852,000	Taiwan Hon Chuan		4,020,972
		Beverage Packaging (Bottles, Caps, Labels) Manufacturer
	2,186,631	Lite-On Technology		3,727,198
		Mobile Device, LED & PC Server Component Supplier
	1,709,200	Chipbond		3,529,302
		Semiconductor Back-end Packaging Services
	624,169	Advantech		3,494,200
		Industrial PC & Components
	2,126,000	CTCI Corp		3,436,222
		International Engineering Firm
	1,306,990	Chroma Ate		2,940,141
		Automatic Test Systems, Testing & Measurement Instruments
	158,000	Ginko International		2,923,310
		Largest Contact Lens Maker in China
	496,000	PC Home		2,853,818
		Taiwanese Internet Retail Company
	823,144	Flexium Interconnect		2,837,677
		Flexible Printed Circuit for Mobile Electronics
	790,000	Radiant Opto-Electronics		2,817,622
		LCD Back Light Units & Modules
	93,500	Lung Yen		284,235
		Funeral Services & Columbaria
	56,266	CHC Healthcare		180,828
		Medical Device Distributor
				42,826,617
		> Indonesia 8.2%
	28,369,500	MNC Skyvision (a)		4,384,652
		Largest Satellite Pay TV Operator in Indonesia
	15,853,079	Surya Citra Media		3,491,739
		Free to Air TV Station in Indonesia
	6,758,109	Tower Bersama Infrastructure (a)		3,413,814
		Communications Towers
	38,965,000	Arwana Citramulia		2,862,333
		Ceramic Tiles for Home Decoration
	1,017,000	Mayora Indah		2,777,840
		Consumer Branded Food Manufacturer
	3,022,500	Matahari Department Store (a)		2,741,494
		Largest Department Store Chain in Indonesia
	44,302,690	Ace Indonesia		2,680,871
		Home Improvement Retailer
	1,591,929	Archipelago Resources (b)(c)(d)(e)		1,458,065
		Gold Mining Projects in Indonesia, Vietnam & the Philippines
				23,810,808

Number of Shares			Value
		> Hong Kong 8.2%
	3,398,000	Melco International	$	9,132,315
		Macau Casino Operator
	5,023,799	Sa Sa International		5,672,456
		Cosmetics Retailer
	350,100	ASM Pacific		3,556,515
		Semi Back-end & Surface Mounting Equipment
	2,258,000	Vitasoy International		2,851,322
		Hong Kong Soy Food Brand
	979,750	L'Occitane International		2,561,452
		Skin Care & Cosmetics Producer
				23,774,060
		> India 6.2%
	1,617,116	Adani Ports & Special Economic Zone		3,569,360
		Indian West Coast Shipping Port
	219,155	United Breweries		3,012,256
		India's Largest Brewer
	20,671	Bosch		2,987,498
		Automotive Parts
	147,861	Colgate Palmolive India		2,928,895
		Consumer Products in Oral Care
	51,731	TTK Prestige		2,752,072
		Branded Cooking Equipment
	3,122,282	Redington India		2,729,461
		Supply Chain Solutions for IT & Mobile Handsets in Emerging Markets
				17,979,542
		> Philippines 5.5%
	23,367,600	Melco Crown Resorts (Philippines) (a)		5,903,619
		Integrated Resort Operator in Manila
	3,047,900	Puregold Price Club		2,922,682
		Supermarket Operator in Philippines
	1,228,597	Int'l Container Terminal		2,739,603
		Container Handling Terminals & Port Management
	849,560	Security Bank		2,560,674
		Commercial Bank in Philippines
	17,031,000	RFM Corporation		1,898,115
		Flour, Bread, Pasta & Ice Cream Manufacturer/Distributor in Philippines
				16,024,693
		> Thailand 4.5%
	14,457,900	Home Product Center		5,655,324
		Home Improvement Retailer
	2,674,700	Robinson's Department Store		4,070,670
		Department Store Operator in Thailand
	6,008,500	Samui Airport Property Fund		3,243,827
		Thai Airport Operator
				12,969,821
		> China 3.2%
	475,000	Biostime (b)		3,591,108
		Pediatric Nutrition & Baby Care Products Provider
	105,365	WuXi PharmaTech - ADR (a)		2,887,001
		Largest Contract Research Organization Business in China

Columbia Acorn Emerging Markets Fund

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> China—continued
	6,386,000	AMVIG Holdings	$	2,752,679
		Chinese Tobacco Packaging Material Supplier
	67,151	Digital China		82,361
		IT Distribution & Systems Integration Services
				9,313,149
		> Cambodia 1.9%
	6,436,000	Nagacorp		5,430,190
		Casino/Entertainment Complex in Cambodia
		> Japan 1.2%
	261,760	Kansai Paint		3,478,584
		Paint Producer in Japan, India, China & Southeast Asia
		> Korea 1.0%
	133,884	Paradise Co		3,051,427
		Korean 'Foreigner Only' Casino Operator
		> Singapore 1.0%
	830,000	Super Group		2,807,108
		Instant Food & Beverages in Southeast Asia
		> Mongolia 0.5%
	7,747,100	Mongolian Mining (a)		1,389,440
		Coking Coal Mining in Mongolia
		> Malaysia 0.4%
	232,900	Aeon		1,100,371
		Shopping Center & Department Store Operator
Asia: Total				163,955,810
Europe 15.1%
		> Russia 3.7%
	2,185,581	Moscow Exchange		4,185,464
		Russia's Main Exchange for Stocks, Bonds, Derivatives, Currencies & Repo
	102,420	Yandex (a)		3,730,137
		Search Engine for Russian & Turkish Languages
	91,058	QIWI - ADR		2,846,473
		Electronic Payments Network Serving Russia & the Commonwealth of Independent States
				10,762,074
		> Finland 3.2%
	65,855	Vacon		5,185,152
		Leading Independent Manufacturer of Variable Speed Alternating Current Drives
	154,160	Tikkurila		4,108,542
		Decorative & Industrial Paint in Scandinavia & Central & Eastern Europe
				9,293,694
		> Sweden 2.0%
	189,560	Hexagon		5,716,266
		Design, Measurement & Visualization Software & Equipment

Number of Shares			Value
		> Kazakhstan 1.9%
	698,908	Halyk Savings Bank of Kazakhstan - GDR	$	5,521,373
		Largest Retail Bank & Insurer in Kazakhstan
		> United Kingdom 1.5%
	6,749,624	Cable and Wireless		4,330,359
		Leading Telecoms Service Provider in the Caribbean
		> Italy 1.4%
	320,827	Pirelli		4,177,548
		Global Tire Supplier
		> Turkey 1.4%
	311,893	Bizim Toptan		4,029,805
		Cash & Carry Stores in Turkey
Europe: Total				43,831,119
Latin America 13.4%
		> Mexico 5.3%
	1,824,000	Qualitas		4,438,244
		Leading Auto Insurer in Mexico & Central America
	739,700	Gruma (a)		4,125,299
		Tortilla Producer & Distributor
	1,506,700	Genomma Lab Internacional (a)		3,441,715
		Develops, Markets & Distributes Consumer Products
	25,190	Grupo Aeroportuario del Sureste - ADR		2,742,184
		Mexican Airport Operator
	306,161	Bolsa Mexicana de Valores		731,867
		Mexico's Stock Exchange
				15,479,309
		> Brazil 5.2%
	377,870	Localiza Rent A Car		5,660,463
		Car Rental
	3,975,346	Beadell Resources (a)		3,445,669
		Gold Mining in Brazil
	674,200	Odontoprev		2,978,125
		Dental Insurance
	172,600	Linx		2,900,938
		Retail Management Software in Brazil
				14,985,195
		> Colombia 1.9%
	3,635,863	Isagen (a)		5,569,310
		Colombian Electricity Provider
		> Chile 1.0%
	3,189,994	Empresas Hites		2,920,132
		Mass Retailer for the Lower Income Strata
Latin America: Total				38,953,946
Other Countries 11.7%
		> South Africa 6.9%
	1,156,120	Coronation Fund Managers		7,899,189
		South African Fund Manager
	1,927,792	Rand Merchant Insurance		5,138,090
		Directly Sold Property & Casualty Insurance; Holdings in Other Insurers

Number of Shares			Value
		> South Africa—continued
	228,382	Massmart Holdings	$	3,824,166
		General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary
	224,031	Mr. Price		3,102,663
		South African Retailer of Apparel, Household & Sporting Goods
				19,964,108
		> United States 2.8%
	120,163	Textainer Group Holdings (b)		4,550,573
		Top International Container Leaser
	67,433	Atwood Oceanics (a)		3,711,512
		Offshore Drilling Contractor
				8,262,085
		> Canada 2.0%
	315,195	CAE		3,451,677
		Flight Simulator Equipment & Training Centers
	153,291	Alliance Grain Traders		2,211,450
		Global Leader in Pulse Processing & Distribution
				5,663,127
Other Countries: Total				33,889,320
Total Equities: 96.8% (Cost: $274,963,697)				280,630,195	(f)

Number of Shares			Value
Short-Term Investments 4.9%
	14,178,170	JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%)	$	14,178,170
Total Short-Term Investments: 4.9% (Cost: $14,178,170)				14,178,170
Securities Lending Collateral 1.1%
	3,140,051	Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (g)		3,140,051
Total Securities Lending Collateral: (Cost: $3,140,051)				3,140,051
Total Investments: 102.8% (Cost: $292,281,918)(h)				297,948,416	(i)
Obligation to Return Collateral for Securities Loaned: (1.1)%				(3,140,051	)
Cash and Other Assets Less Liabilities: (1.7)%				(5,065,789	)
Net Assets: 100.0%			$	289,742,576

ADR – American Depositary Receipts

GDR – Global Depositary Receipts

> Notes to Statement of Investments

(a) Non-income producing security.

(b) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $3,018,082.

(d) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. This security is valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At September 30, 2013, the market value of this security amounted to $1,458,065, which represented 0.50% of total net assets. Additional information on this security is as follows:

Security				Acquisition Dates				Shares/Units				Cost				Value
Archipelago Resources				8/19/11-9/26/13					1,591,929			$	1,316,810			$	1,458,065

(e) Units represent shares of security and related put options received through company restructuring. Additional information on the purchased options received is as follows:

Security

Option Shares

Exercise Price

Expiration Date (1)

Archipelago Resources

1,591,929

GBP

0.58

October 31, 2014

GBP - British Pound

Columbia Acorn Emerging Markets Fund

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

(f) On September 30, 2013, the Fund's total investments were denominated in currencies as follows:

Currency	Value		Percentage of Net Assets
Taiwan Dollar	$	42,826,617		14.8
Hong Kong Dollar		37,019,838		12.8
United States Dollar		30,174,717		10.4
Indonesian Rupiah		22,352,743		7.7
South African Rand		19,964,108		6.9
Indian Rupee		17,979,542		6.2
Phillipine Peso		16,024,693		5.5
Other currencies less than 5% of total net assets		94,287,937		32.5
Total Equities	$	280,630,195		96.8

(g) Investment made with cash collateral received from securities lending activity.

(h) At September 30, 2013, for federal income tax purposes, the cost of investments was $292,281,918 and net unrealized appreciation was $5,666,498 consisting of gross unrealized appreciation of $18,379,488 and gross unrealized depreciation of $12,712,990.

(i) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.

> Notes to Statement of Investments

The following table summarizes the inputs used, as of September 30, 2013, in valuing the Fund's assets:

Investment Type	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equities
Asia	$	2,887,001	$	159,610,744	$	1,458,065	$	163,955,810
Europe		6,576,610		37,254,509		-		43,831,119
Latin America		35,508,277		3,445,669		-		38,953,946
Other Countries		13,925,212		19,964,108		-		33,889,320
Total Equities		58,897,100		220,275,030		1,458,065		280,630,195
Total Short-Term Investments		14,178,170		-		-		14,178,170
Total Securities Lending Collateral		3,140,051		-		-		3,140,051
Total Investments	$	76,215,321	$	220,275,030	$	1,458,065	$	297,948,416

There were no transfers of financial assets between levels 1 and 2 during the period.

The Fund does not hold any significant investments categorized as Level 3.

Columbia Acorn Emerging Markets Fund

Portfolio Diversification (Unaudited)

At September 30, 2013, the Fund's portfolio investments as a percentage of net assets were diversified as follows:

	Value		Percentage of Net Assets
> Consumer Goods & Services
Retail	$	41,574,452		14.3
Casinos & Gaming		23,517,551		8.1
Food & Beverage		21,063,048		7.3
Other Durable Goods		6,929,620		2.4
Nondurables		6,003,167		2.0
Travel		5,660,463		2.0
Consumer Goods Distribution		5,658,356		1.9
Other Consumer Services		284,235		0.1
		110,690,892		38.1
> Information
Computer Hardware & Related Equipment		10,039,020		3.4
Semiconductors & Related Equipment		9,923,494		3.4
Mobile Communications		9,171,619		3.2
Business Software		8,617,204		3.0
Financial Processors		7,031,937		2.4
Satellite Broadcasting & Services		4,384,652		1.5
Telephone & Data Services		4,330,359		1.5
Internet Related		3,730,137		1.3
TV Broadcasting		3,491,739		1.2
Instrumentation		2,940,141		1.0
Electronics Distribution		82,361		0.0	*
		63,742,663		21.9
> Industrial Goods & Services
Industrial Materials & Specialty Chemicals		17,223,110		6.0
Other Industrial Services		9,760,640		3.4
Electrical Components		5,185,152		1.8
Construction		3,436,222		1.2
Machinery		2,987,498		1.0
		38,592,622		13.4
> Finance
Insurance		12,554,459		4.3
Banks		8,082,047		2.8
Brokerage & Money Management		7,899,189		2.7
Finance Companies		4,550,573		1.5
Specialized Finance		731,867		0.3
		33,818,135		11.6

	Value			Percentage of Net Assets
> Energy & Minerals
Mining	$	6,293,174			2.2
Oil Services		3,711,512			1.3
Agricultural Commodities		2,211,450			0.8
		12,216,136			4.3
> Other Industries
Transportation		5,986,011			2.1
Regulated Utilities		5,569,310			1.9
		11,555,321			4.0
> Health Care
Medical Supplies		6,946,597			2.4
Pharmaceuticals		2,887,001			1.0
Medical Equipment & Devices		180,828			0.1
		10,014,426			3.5
Total Equities:		280,630,195			96.8
Short-Term Investments:		14,178,170			4.9
Securities Lending Collateral:		3,140,051			1.1
Total Investments:		297,948,416			102.8
Obligation to Return Collateral for Securities Loaned:		(3,140,051	)		(1.1	)
Cash and Other Assets Less Liabilities:		(5,065,789	)		(1.7	)
Net Assets:	$	289,742,576			100.0

* Rounds to zero.

Columbia Acorn European Fund

Major Portfolio Changes in the Third Quarter (Unaudited)

			Number of Shares
			6/30/13		9/30/13
Purchases
Europe
> United Kingdom
Abcam				11,580		23,431
Aggreko				3,000		4,400
Assura				326,990		520,087
AVEVA				0		2,531
Babcock International				0		6,687
Cable and Wireless				118,770		174,450
Charles Taylor				56,105		61,500
Croda				3,000		4,400
Domino's Pizza UK & Ireland				14,470		21,262
Elementis				19,390		28,475
Fidessa Group				786		3,325
Halford's				14,870		21,850
Jardine Lloyd Thompson Group				15,790		22,100
Ocado				30,300		44,512
Shaftesbury				10,860		15,962
Smiths News				29,430		50,000
Spirax Sarco				3,364		4,984
Telecity				9,910		14,550
WH Smith				9,540		14,012
> France
	1000	mercis		3,100		3,212
AKKA Technologies				2,500		4,275
Eurofins Scientific				1,060		1,425
Gemalto				1,410		3,062
Hi-Media				31,230		47,637
Neopost				2,640		4,050
Norbert Dentressangle				1,200		1,762
Saft				3,341		4,912
> Germany
Aurelius				4,610		7,880
Bertrandt				0		2,187
Elringklinger				0		4,462
NORMA Group				2,170		4,157
Rational				260		430
TAG Immobilien				6,670		14,312
Wirecard				2,950		5,675
> Netherlands
Aalberts Industries				6,699		9,837
Arcadis				3,935		5,787
Core Labs				550		800
Fugro				1,430		2,100
TKH Group				3,069		4,550
UNIT4				3,090		4,562

	Number of Shares
	6/30/13		9/30/13
> Switzerland
Geberit		440		957
INFICON		0		303
Partners Group		620		1,028
> Sweden
Eniro		0		42,000
Hexagon		3,570		5,250
Sweco		7,840		11,512
Unibet		2,540		3,737
> Finland
Konecranes		0		4,012
Tikkurila		4,628		5,853
Vacon		1,829		3,043
> Russia
Moscow Exchange		0		65,000
QIWI - ADR		4,690		6,900
Yandex		3,110		4,562
> Norway
Atea		10,610		16,962
Orkla		0		15,054
Subsea 7		3,710		9,200
> Spain
Bolsas y Mercados Españoles		0		3,152
Dia		13,680		20,100
Viscofan		0		2,700
> Denmark
Jyske Bank		1,990		2,912
SimCorp		2,700		3,962
> Belgium
EVS Broadcast Equipment		1,110		2,687
> Italy
Pirelli		7,680		9,150
> Turkey
Bizim Toptan		4,560		10,000
Other Countries
> United States
Gulfmark Offshore		2,000		2,937
Asia
> Hong Kong
L'Occitane International		32,990		45,200

Columbia Acorn European Fund

Major Portfolio Changes in the Third Quarter (Unaudited), continued

	Number of Shares
	6/30/13		9/30/13
Sales
Europe
> United Kingdom
BBA Aviation		17,410		0
Intertek Group		1,065		0
> Germany
Stratec Biomedical Systems		3,100		0
> Netherlands
Imtech		7,116		0
> Switzerland
Dufry Group		530		0
> Italy
Geox		27,900		16,449
> Portugal
Redes Energéticas Nacionais		26,550		12,679
> Iceland
Marel		43,750		0
Asia
> Indonesia
Archipelago Resources		139,538		0

Columbia Acorn European Fund

Statement of Investments (Unaudited), September 30, 2013

Number of Shares			Value
			Equities: 86.3%
Europe 83.7%
		> United Kingdom 26.0%
	22,100	Jardine Lloyd Thompson Group	$	338,099
		International Business Insurance Broker
	520,087	Assura		303,109
		UK Primary Health Care Property Developer
	44,512	Ocado (a)		285,360
		Online Grocery Retailer
	4,984	Spirax Sarco		243,268
		Steam Systems for Manufacturing & Process Industries
	61,500	Charles Taylor		209,081
		Insurance Services
	21,262	Domino's Pizza UK & Ireland		201,019
		Pizza Delivery in UK, Ireland & Germany
	14,550	Telecity		195,507
		European Data Center Provider
	23,431	Abcam		191,938
		Online Sales of Antibodies
	4,400	Croda		189,120
		Oleochemicals & Industrial Chemicals
	14,012	WH Smith (b)		187,597
		Newsprint, Books & General Stationery Retailer
	50,000	Smiths News		165,937
		Newspaper & Magazine Distributor
	15,962	Shaftesbury		152,461
		London Prime Retail REIT
	2,962	Whitbread		142,129
		The UK's Leading Hotelier & Coffee Shop
	21,850	Halford's		139,228
		The UK's Leading Retailer for Leisure Goods & Auto Parts
	6,687	Babcock International		129,474
		Public Sector Outsourcer
	3,075	Rightmove		117,932
		Internet Real Estate Listings
	4,400	Aggreko		114,256
		Temporary Power & Temperature Control Services
	174,450	Cable and Wireless		111,922
		Leading Telecoms Service Provider in the Caribbean
	28,475	Elementis		110,498
		Clay-based Additives
	3,325	Fidessa Group		107,011
		Software for Financial Trading Systems
	2,531	AVEVA		106,452
		Engineering Software
	146	Telecom Plus		2,992
		UK Multi Utility
				3,744,390
		> France 12.1%
	1,425	Eurofins Scientific		359,151
		Food, Pharmaceuticals & Materials Screening & Testing
	3,062	Gemalto		328,785
		Digital Security Solutions

Number of Shares					Value
	4,050	Neopost			$	294,937
		Postage Meter Machines
	3,212		1000	mercis (a)		195,106
		Interactive Advertising & Marketing
	1,762	Norbert Dentressangle				188,314
		Leading European Logistics & Transport Group
	4,912	Saft				135,496
		Niche Battery Manufacturer
	4,275	AKKA Technologies				125,501
		Engineering Consultancy
	47,637	Hi-Media (a)				116,002
		Online Advertiser in Europe
						1,743,292
		> Germany 9.9%
	2,187	Bertrandt				275,335
		Outsourced Engineering
	7,880	Aurelius				255,318
		European Turnaround Investor
	4,462	Elringklinger				200,771
		Automobile Components
	4,157	NORMA Group				200,263
		Clamps for Automotive & Industrial Applications
	5,675	Wirecard				194,124
		Online Payment Processing & Risk Management
	14,312	TAG Immobilien				177,608
		Owner of Residential Properties in Germany
	430	Rational				128,271
		Commercial Ovens
						1,431,690
		> Netherlands 7.0%
	9,837	Aalberts Industries				262,101
		Flow Control & Heat Treatment
	4,562	UNIT4				178,671
		Business Software Development
	5,787	Arcadis				165,504
		Engineering Consultants
	4,550	TKH Group				136,282
		Dutch Industrial Conglomerate
	800	Core Labs				135,368
		Oil & Gas Reservoir Consulting
	2,100	Fugro				128,100
		Subsea Oilfield Services
						1,006,026
		> Switzerland 5.6%
	957	Geberit				258,417
		Plumbing Supplies
	1,028	Partners Group				252,012
		Private Markets Asset Management
	66	Sika				192,377
		Chemicals for Construction & Industrial Applications
	303	INFICON				97,164
		Gas Detection Instruments
						799,970

Columbia Acorn European Fund

Statement of Investments (Unaudited), continued

Number of Shares			Value
		> Sweden 4.2%
	5,250	Hexagon	$	158,316
		Design, Measurement & Visualization Software & Equipment
	42,000	Eniro (a)		153,578
		Leading Provider of Local Search Services in Nordics
	3,737	Unibet		150,022
		European Online Gaming Operator
	11,512	Sweco		148,676
		Engineering Consultants
				610,592
		> Finland 3.7%
	3,043	Vacon		239,594
		Leading Independent Manufacturer of Variable Speed Alternating Current Drives
	5,853	Tikkurila		155,989
		Decorative & Industrial Paint in Scandinavia & Central & Eastern Europe
	4,012	Konecranes		135,094
		Manufacture & Service of Industrial Cranes & Port Handling Equipment
				530,677
		> Russia 3.5%
	6,900	QIWI - ADR		215,694
		Electronic Payments Network Serving Russia & the Commonwealth of Independent States
	4,562	Yandex (a)		166,148
		Search Engine for Russian & Turkish Languages
	65,000	Moscow Exchange		124,477
		Russia's Main Exchange for Stocks, Bonds, Derivatives, Currencies & Repo
				506,319
		> Norway 3.3%
	9,200	Subsea 7		191,244
		Offshore Subsea Contractor
	16,962	Atea		178,414
		Leading Nordic IT Hardware/Software Reseller & Installation Company
	15,054	Orkla		109,652
		Food & Brands, Aluminum, Chemicals Conglomerate
				479,310
		> Spain 3.0%
	20,100	Dia		174,275
		Leading Hard Discounter in Spain, Latin America & the Eastern Mediterranean
	2,700	Viscofan		154,400
		Sausage Casings Maker
	3,152	Bolsas y Mercados Españoles		100,016
		Spanish Stock Markets
				428,691
		> Denmark 1.9%
	2,912	Jyske Bank (a)		144,620
		Danish Bank
	3,962	SimCorp		133,310
		Software for Investment Managers
				277,930

Number of Shares			Value
		> Belgium 1.2%
	2,687	EVS Broadcast Equipment	$	173,358
		Digital Live Mobile Production Software & Systems
		> Italy 1.1%
	9,150	Pirelli		119,144
		Global Tire Supplier
	16,449	Geox		44,951
		Apparel & Shoe Maker
				164,095
		> Turkey 0.9%
	10,000	Bizim Toptan		129,205
		Cash & Carry Stores in Turkey
		> Portugal 0.3%
	12,679	Redes Energéticas Nacionais		37,908
		Portuguese Power Transmission & Gas Transportation
Europe: Total				12,063,453
Other Countries 1.8%
		> United States 1.0%
	2,937	Gulfmark Offshore		149,464
		Operator of Offshore Supply Vessels
		> Canada 0.8%
	7,691	Alliance Grain Traders		110,954
		Global Leader in Pulse Processing & Distribution
Other Countries: Total				260,418
Asia 0.8%
		> Hong Kong 0.8%
	45,200	L'Occitane International		118,170
		Skin Care & Cosmetics Producer
Asia: Total				118,170
Total Equities: 86.3% (Cost: $10,903,292)				12,442,041	(c)
Short-Term Investments 5.2%
	754,982	JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%)		754,982
Total Short-Term Investments: 5.2% (Cost: $754,982)				754,982

Number of Shares			Value
Securities Lending Collateral 0.2%
	22,828	Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (d)	$	22,828
Total Securities Lending Collateral: (Cost: $22,828)				22,828
Total Investments: 91.7% (Cost: $11,681,102)(e)				13,219,851	(f)
Obligation to Return Collateral for Securities Loaned: (0.2)%				(22,828	)
Cash and Other Assets Less Liabilities: 8.5%				1,225,742
Net Assets: 100.0%			$	14,422,765

ADR - American Depositary Receipts

REIT - Real Estate Investment Trust

> Notes to Statement of Investments

(a) Non-income producing security.

(b) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $21,682.

Currency	Value		Percentage of Net Assets
Euro	$	5,380,368		37.3
British Pound		3,744,390		26.0
Swiss Franc		799,970		5.5
United States Dollar		791,151		5.5
Other currencies less than 5% of total net assets		1,726,162		12.0
Total Equities	$	12,442,041		86.3

(d) Investment made with cash collateral received from securities lending activity.

(e) At September 30, 2013, for federal income tax purposes, the cost of investments was $11,681,102 and net unrealized appreciation was $1,538,749 consisting of gross unrealized appreciation of $1,601,001 and gross unrealized depreciation of $62,252.

(f) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Columbia Acorn European Fund

Statement of Investments (Unaudited), continued

> Notes to Statement of Investments

Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.

The following table summarizes the inputs used, as of September 30, 2013, in valuing the Fund's assets:

Investment Type	Quoted Prices (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equities
Europe	$	517,210	$	11,546,243	$	-	$	12,063,453
Other Countries		260,418		-		-		260,418
Asia		-		118,170		-		118,170
Total Equities		777,628		11,664,413		-		12,442,041
Total Short-Term Investments		754,982		-		-		754,982
Total Securities Lending Collateral		22,828		-		-		22,828
Total Investments	$	1,555,438	$	11,664,413	$	-	$	13,219,851

There were no transfers of financial assets between levels 1 and 2 during the period.

Columbia Acorn European Fund

Portfolio Diversification (Unaudited)

At September 30, 2013, the Fund's portfolio investments as a percentage of net assets were diversified as follows:

	Value		Percentage of Net Assets
> Industrial Goods & Services
Machinery	$	1,098,997		7.6
Industrial Materials & Specialty Chemicals		848,755		5.9
Other Industrial Services		787,587		5.5
Conglomerates		763,353		5.3
Outsourcing Services		530,309		3.7
Electrical Components		375,089		2.6
Construction		258,417		1.8
		4,662,507		32.4
> Information
Business Software		683,759		4.7
Financial Processors		534,295		3.7
Computer Hardware & Related Equipment		502,143		3.5
Internet Related		437,658		3.0
Computer Services		373,920		2.6
Business Information & Marketing Services		195,107		1.4
Advertising		116,002		0.8
Telephone & Data Services		111,922		0.8
		2,954,806		20.5
> Consumer Goods & Services
Retail		915,665		6.3
Restaurants		343,149		2.4
Consumer Goods Distribution		165,937		1.2
Food & Beverage		154,399		1.1
Casinos & Gaming		150,022		1.0
Other Durable Goods		119,144		0.8
Nondurables		118,171		0.8
Apparel		44,951		0.3
		2,011,438		13.9
> Finance
Insurance		547,180		3.8
Brokerage & Money Management		252,013		1.7
Banks		144,620		1.0
Finance Processors		100,017		0.7
		1,043,830		7.2
> Other Industries
Real Estate		633,178		4.4
Transportation		188,314		1.3
Regulated Utilities		40,900		0.3
		862,392		6.0
> Energy & Minerals
Oil Services		468,808		3.3
Mining		135,368		0.9
Agricultural Commodities		110,954		0.8
		715,130		5.0

	Value			Percentage of Net Assets
> Health Care
Medical Supplies	$	191,938			1.3
		191,938			1.3
Total Equities:		12,442,041			86.3
Short-Term Investments:		754,982			5.2
Securities Lending Collateral:		22,828			0.2
Total Investments:		13,219,851			91.7
Obligation to Return Collateral for Securities Loaned:		(22,828	)		(0.2	)
Cash and Other Assets Less Liabilities:		1,225,742			8.5
Net Assets:	$	14,422,765			100.0

Columbia Acorn Family of Funds Expense Information (Unaudited)

as of 9/30/13

Columbia Acorn Fund	Class A			Class B*			Class C			Class I			Class R
Management Fees		0.64	%		0.64	%		0.64	%		0.64	%
Distribution and Service (12b-1) Fees		0.25	%		0.75	%		1.00	%		0.00	%
Other Expenses		0.18	%		0.33	%		0.15	%		0.07	%
Net Expense Ratio		1.07	%		1.72	%		1.79	%		0.71	%
Columbia Acorn International
Management Fees		0.77	%		0.77	%		0.77	%		0.77	%		0.77	%
Distribution and Service (12b-1) Fees		0.25	%		0.75	%		1.00	%		0.00	%		0.50	%
Other Expenses		0.22	%		0.45	%		0.22	%		0.09	%		0.32	%
Net Expense Ratio		1.24	%		1.97	%		1.99	%		0.86	%		1.59	%
Columbia Acorn USA
Management Fees		0.86	%		0.86	%		0.86	%		0.86	%
Distribution and Service (12b-1) Fees		0.25	%		0.75	%		1.00	%		0.00	%
Other Expenses		0.22	%		0.54	%		0.16	%		0.04	%
Net Expense Ratio		1.33	%		2.15	%		2.02	%		0.90	%
Columbia Acorn International Select
Management Fees		0.94	%		0.94	%		0.94	%		0.94	%
Distribution and Service (12b-1) Fees		0.25	%		0.75	%		1.00	%		0.00	%
Other Expenses		0.29	%		0.46	%		0.33	%		0.21	%
Net Expense Ratio		1.48	%		2.15	%		2.27	%		1.15	%
Columbia Acorn Select
Management Fees		0.84	%		0.84	%		0.84	%		0.84	%
Distribution and Service (12b-1) Fees		0.25	%		0.75	%		1.00	%		0.00	%
Other Expenses		0.23	%		0.43	%		0.22	%		0.11	%
Net Expense Ratio		1.32	%		2.02	%		2.06	%		0.95	%
Columbia Thermostat Fund
Management Fees		0.10	%		0.10	%		0.10	%
Distribution and Service (12b-1) Fees		0.25	%		0.75	%		1.00	%
Other Expenses		0.15	%		0.15	%		0.15	%
Net Expense Ratio**		0.50	%		1.00	%		1.25	%
Columbia Acorn Emerging Markets Fund
Management Fees		1.14	%					1.14	%		1.14	%
Distribution and Service (12b-1) Fees		0.25	%					1.00	%		0.00	%
Other Expenses		0.39	%					0.40	%		0.27	%
Net Expense Ratio		1.78	%					2.54	%		1.41	%
Columbia Acorn European Fund
Management Fees		1.19	%					1.19	%		1.19	%
Distribution and Service (12b-1) Fees		0.25	%					1.00	%		0.00	%
Other Expenses		0.30	%					0.31	%		0.21	%
Net Expense Ratio		1.74	%					2.50	%		1.40	%

Columbia Acorn Fund	Class R4†			Class R5†			Class Y†			Class Z
Management Fees		0.64	%		0.64	%		0.64	%		0.64	%
Distribution and Service (12b-1) Fees		0.00	%		0.00	%		0.00	%		0.00	%
Other Expenses		0.14	%		0.11	%		0.07	%		0.14	%
Net Expense Ratio		0.78	%		0.75	%		0.71	%		0.78	%
Columbia Acorn International
Management Fees		0.77	%		0.77	%		0.77	%		0.77	%
Distribution and Service (12b-1) Fees		0.00	%		0.00	%		0.00	%		0.00	%
Other Expenses		0.16	%		0.14	%		0.09	%		0.15	%
Net Expense Ratio		0.93	%		0.91	%		0.86	%		0.92	%
Columbia Acorn USA
Management Fees		0.86	%		0.86	%		0.86	%		0.86	%
Distribution and Service (12b-1) Fees		0.00	%		0.00	%		0.00	%		0.00	%
Other Expenses		0.13	%		0.14	%		0.11	%		0.21	%
Net Expense Ratio		0.99	%		1.00	%		0.97	%		1.07	%
Columbia Acorn International Select
Management Fees		0.94	%		0.94	%		0.94	%		0.94	%
Distribution and Service (12b-1) Fees		0.00	%		0.00	%		0.00	%		0.00	%
Other Expenses		0.33	%		0.23	%		0.21	%		0.26	%
Net Expense Ratio		1.27	%		1.17	%		1.15	%		1.20	%
Columbia Acorn Select
Management Fees		0.84	%		0.84	%		0.84	%		0.84	%
Distribution and Service (12b-1) Fees		0.00	%		0.00	%		0.00	%		0.00	%
Other Expenses		0.26	%		0.15	%		0.12	%		0.20	%
Net Expense Ratio		1.10	%		0.99	%		0.96	%		1.04	%
Columbia Thermostat Fund
Management Fees		0.10	%		0.10	%		0.10	%		0.10	%
Distribution and Service (12b-1) Fees		0.00	%		0.00	%		0.00	%		0.00	%
Other Expenses		0.15	%		0.13	%		0.04	%		0.15	%
Net Expense Ratio**		0.25	%		0.23	%		0.14	%		0.25	%
Columbia Acorn Emerging Markets Fund
Management Fees		1.14	%		1.14	%		1.14	%		1.14	%
Distribution and Service (12b-1) Fees		0.00	%		0.00	%		0.00	%		0.00	%
Other Expenses		0.33	%		0.30	%		0.26	%		0.45	%
Net Expense Ratio		1.47	%		1.44	%		1.40	%		1.59	%
Columbia Acorn European Fund
Management Fees					1.19	%					1.19	%
Distribution and Service (12b-1) Fees					0.00	%					0.00	%
Other Expenses					0.32	%					0.25	%
Net Expense Ratio					1.51	%					1.44	%

See the Funds' prospectuses for information on minimum initial investment amounts and other details of buying, selling and exchanging shares of the Funds.

Fees and expenses are for the nine months ended September 30, 2013. The fees and expenses of Columbia Acorn International Select and Columbia Acorn Select include the effect of the voluntary undertaking by Columbia Wanger Asset Management, LLC (CWAM) to reimburse each Fund for the ordinary operating expenses (exclusive of transaction costs and certain other investment-related expenses, interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any), exceeding annually each class' average daily net assets as follows:

Fund	Class A			Class B			Class C			Class I			Class R4			Class R5			Class Y			Class Z
Columbia Acorn International Select		1.70	%		2.20	%		2.45	%		1.31	%		1.45	%		1.36	%		1.31	%		1.45	%
Columbia Acorn Select		1.60	%		2.10	%		2.35	%		1.23	%		1.35	%		1.28	%		1.23	%		1.35	%

This arrangement may be modified or terminated by either the Funds or CWAM on 30 days notice.

The fees and expenses of Columbia Thermostat Fund include the effect of CWAM's contractual undertaking to waive fees and/or reimburse expenses of the Fund so that the ordinary operating expenses (exclusive of transaction costs and certain other investment-related expenses, interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any), do not exceed annually the rates of 0.50%, 1.00%, 1.25%, 0.25%, 0.23%, 0.18% and 0.25% of the Fund's average daily net assets attributable to Class A, Class B, Class C, Class R4, Class R5, Class Y and Class Z shares, respectively, through April 30, 2014. There is no guarantee that this agreement will continue thereafter.

The fees and expenses of Columbia Acorn Emerging Markets Fund and Columbia Acorn European Fund include the effect of CWAM's contractual undertaking to waive fees and/or reimburse expenses of each Fund so that the ordinary operating expenses (exclusive of transaction costs and certain other investment-related expenses, interest and fees on borrowings and expenses associated with the Fund's investment in other investment companies, if any), of each Fund's Class A, Class C, Class I, Class R4 (if offered), Class R5, Class Y (if offered) and Class Z shares through April 30, 2014, do not exceed annually each class' average daily net assets as follows:

Fund	Class A			Class C			Class I			Class R4			Class R5			Class Y			Class Z
Columbia Acorn Emerging Markets Fund		1.85	%		2.60	%		1.54	%		1.60	%		1.59	%		1.54	%		1.60	%
Columbia Acorn European Fund		1.75	%		2.50	%		1.46	%		—	%		1.51	%		—	%		1.50	%

There is no guarantee that this agreement will continue thereafter.

The fees and expenses of Columbia Acorn International include the effect of the voluntary undertaking by CWAM and its affiliates, effective August 15, 2011, to waive a portion of total annual Fund operating expenses incurred by Class A, Class B and Class C shares of Columbia Acorn International such that the Fund's total annual Fund operating expenses will be reduced by 0.04%, 0.03% and 0.02% for Class A, Class B and Class C shares of the Fund, respectively, through August 14, 2014. There is no guarantee that this agreement will continue thereafter.

* The Funds generally no longer accept investments by new or existing investors in Class B shares, except in connection with the reinvestment of any dividend and/or capital gain distributions in Class B shares of the Funds and exchanges by existing Class B shareholders of certain other funds within the Columbia Family of Funds.

** Does not include estimated fees and expenses of 0.57% incurred by the Fund from the underlying portfolio funds in which it invests.

† With the exception of Class R5 shares of Columbia Acorn International (which commenced operations on August 15, 2011) and Class Y shares of Columbia Acorn Emerging Markets Fund (which commenced operations on June 13, 2013), noted share classes commenced operations on November 8, 2012, and have limited eligibility. Please see the Funds' prospectuses for details.

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Columbia Acorn Family of Funds

Trustees

Laura M. Born

Chair of the Board

Steven N. Kaplan

Vice Chair of the Board

Michelle L. Collins

Maureen M. Culhane

Margaret M. Eisen

John C. Heaton

Charles P. McQuaid

David J. Rudis

David B. Small

Ralph Wanger (Trustee Emeritus)

Officers

Charles P. McQuaid

President

Robert A. Chalupnik

Vice President

Michael G. Clarke

Assistant Treasurer

Joseph F. DiMaria

Assistant Treasurer

P. Zachary Egan

Vice President

Fritz Kaegi

Vice President

John M. Kunka

Assistant Treasurer

Stephen Kusmierczak

Vice President

Joseph C. LaPalm

Vice President

Bruce H. Lauer

Vice President, Secretary and Treasurer

Louis J. Mendes III

Vice President

Robert A. Mohn

Vice President

Christopher J. Olson

Vice President

Christopher O. Petersen

Assistant Secretary

Scott R. Plummer

Assistant Secretary

Andreas Waldburg-Wolfegg

Vice President

Linda K. Roth-Wiszowaty

Assistant Secretary

Robert P. Scales

Chief Compliance Officer, Chief Legal Officer,
Senior Vice President and General Counsel

Investment Manager

Columbia Wanger Asset Management, LLC
227 West Monroe Street, Suite 3000
Chicago, Illinois 60606

1-800-922-6769

Distributor

Columbia Management Investment Distributors, Inc.
225 Franklin Street
Boston, Massachusetts 02110

Transfer Agent, Dividend Disbursing Agent

Columbia Management Investment Services Corp.
P. O. Box 8081
Boston, Massachusetts 02266-8081

1-800-345-6611

Legal Counsel to the Funds

Perkins Coie LLP
Washington, DC

Legal Counsel to the Independent Trustees

Drinker Biddle & Reath LLP
Philadelphia, Pennsylvania

Independent Registered Public Accounting Firm

PricewaterhouseCoopers LLP
Chicago, Illinois

This report, including the schedules of investments, is submitted for the general information of the shareholders of Columbia Acorn Trust.

A description of the policies and procedures that the Funds use to determine how to vote proxies and a copy of the Funds' voting record are available (i) without charge, upon request, by calling 800-922-6769 and (ii) on the Securities and Exchange Commission's website at www.sec.gov. Information regarding how the Funds voted proxies relating to portfolio securities during the 12-month period ended June 30, is available from the SEC's website. Information regarding how the Funds voted proxies relating to portfolio securities is also available at www.columbiamanagement.com under "About Us." From there, click on "Disclosures."

The Funds file a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds' Form N-Q is available on the SEC's website at www.sec.gov and may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The Funds' complete portfolio holdings are disclosed at www.columbiamanagement.com approximately 30 to 40 days after each month-end.

Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. For a free prospectus, which contains this and other important information about the funds, visit www.columbiamanagement.com. Read the prospectus carefully before investing.

Columbia Acorn Family of Funds are distributed by Columbia Management Investment Distributors, Inc., member FINRA and managed by Columbia Wanger Asset Management, LLC.

Find out what's new – visit our web site at:

www.columbiamanagement.com

Our e-mail address is:

ServiceInquiries@ColumbiaManagement.com

Shareholders should not include personal information such as account numbers, Social Security numbers or taxpayer identification numbers in e-mail. We are unable to accept account transactions sent via e-mail.

This document contains Global Industry Classification Standard data. The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P") and is licensed for use by Columbia Wanger Asset Management, LLC. Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

Columbia Management^®

Columbia Acorn Family of Funds
Class A, B, C, I, R, R4, R5, Y and Z Shares

Third Quarter Report, September 30, 2013

For More Information

You'll find more information about the Columbia Acorn Family of Funds in the documents described below. Contact Columbia Funds as follows to obtain these documents free of charge:

By Mail: Columbia Funds
c/o Columbia Management Investment Services Corp.
P.O. Box 8081
Boston, MA 02266-8081

By Telephone: 800.345.6611

Online: www.columbiamanagement.com

Shareholder Communications with the Board

The Funds' Board of Trustees has adopted procedures by which shareholders may communicate with the Board. Shareholders who wish to communicate with the Board should send their written communications to the Board by mail, c/o Columbia Wanger Asset Management, LLC, 227 West Monroe Street, Suite 3000, Chicago, Illinois 60606, Attention: Secretary. Shareholder communications must (i) be in writing, (ii) identify the Columbia Acorn Fund to which the communication relates and (iii) state the particular class of shares and number of shares held by the communicating shareholder.

Prospectuses and the Statement of Additional Information (SAI)

The prospectuses and the SAI provide more detailed information about the Funds and their policies. The SAI is legally part of each prospectus (it's incorporated by reference). A copy of each has been filed with the SEC.

Information Provided by the SEC

You can review and copy information about the Funds (including their prospectuses, the SAI and shareholder reports) at the SEC's Public Reference Room in Washington, DC. To find out more about the operation of the Public Reference Room, call the SEC at 202.551.8090. Reports and other information about the Fund are also available in the EDGAR Database on the SEC's website at http://www.sec.gov, or you can receive copies of this information, for a fee, by electronic request at the following e-mail address: publicinfo@sec.gov. You can also obtain copies of this information by writing the Public Reference Section, Securities and Exchange Commission, Washington, DC 20549-0102.

The investment company registration number of Columbia Acorn Trust, of which each of these Funds is a series, is 811-01829.

225 Franklin Street, Boston, MA 02110

800.345.6611 www.columbiamanagement.com

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