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OMB APPROVAL | |
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OMB Number: |
3235-0578 |
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Expires: |
March 31, 2019 |
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UNITED STATES |
Estimated average burden hours per response . . . . . . . . . . 10.5 | |
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SECURITIES AND EXCHANGE COMMISSION |
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Washington, D.C. 20549 |
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FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number |
811-01829 | |||||||
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Columbia Acorn Trust | ||||||||
(Exact name of registrant as specified in charter) | ||||||||
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227 W. Monroe Street, Suite 3000, Chicago, IL |
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60606 | ||||||
(Address of principal executive offices) |
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(Zip code) | ||||||
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Mary C. Moynihan Perkins Coie LLP 700 13th Street, NW Suite 600 Washington, DC 20005
Paul B. Goucher, Esq. Columbia Management Investment Advisers, LLC 100 Park Avenue New York, New York 10017
P. Zachary Egan Columbia Acorn Trust 227 West Monroe Street, Suite 3000 Chicago, Illinois 60606 | ||||||||
(Name and address of agent for service) | ||||||||
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Registrants telephone number, including area code: |
312-634-9200 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
September 30, 2016 |
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Item 1. Schedule of Investments.
Columbia Acorn Fund
Statement of Investments (Unaudited), September 30, 2016
Number of Shares |
|
|
|
Value |
| |
|
|
|
|
Equities: 98.0% |
| |
Health Care 19.1% |
|
|
| |||
|
|
> Health Care Equipment & Supplies 7.2% |
|
|
| |
1,429,073 |
|
Align Technology (a) |
|
$ |
133,975,594 |
|
996,818 |
|
ResMed |
|
64,583,838 |
| |
870,978 |
|
LivaNova (a) |
|
52,354,488 |
| |
388,000 |
|
Varian Medical Systems (a) |
|
38,617,640 |
| |
516,239 |
|
West Pharmaceutical Services |
|
38,459,805 |
| |
597,902 |
|
Dentsply Sirona |
|
35,533,316 |
| |
218,709 |
|
IDEXX Laboratories (a) |
|
24,655,065 |
| |
|
|
|
|
388,179,746 |
| |
|
|
> Life Sciences Tools & Services 5.2% |
|
|
| |
814,750 |
|
Quintiles Transnational Holdings (a) |
|
66,043,635 |
| |
1,833,801 |
|
VWR (a) |
|
52,006,596 |
| |
859,624 |
|
PRA Health Sciences (a) |
|
48,577,352 |
| |
415,992 |
|
Bio-Techne |
|
45,551,124 |
| |
79,588 |
|
Mettler-Toledo International (a) |
|
33,413,430 |
| |
684,850 |
|
Agilent Technologies |
|
32,249,587 |
| |
|
|
|
|
277,841,724 |
| |
|
|
> Health Care Providers & Services 3.1% |
|
|
| |
2,101,278 |
|
HealthSouth |
|
85,248,848 |
| |
683,733 |
|
Centene (a) |
|
45,782,762 |
| |
510,065 |
|
Mednax (a) |
|
33,791,806 |
| |
|
|
|
|
164,823,416 |
| |
|
|
> Biotechnology 2.7% |
|
|
| |
667,993 |
|
Ultragenyx Pharmaceutical (a) |
|
47,387,423 |
| |
491,749 |
|
Seattle Genetics (a) |
|
26,559,364 |
| |
154,332 |
|
Intercept Pharmaceuticals (a) (b) |
|
25,401,504 |
| |
445,705 |
|
Agios Pharmaceuticals (a) (b) |
|
23,542,138 |
| |
2,831,995 |
|
Celldex Therapeutics (a) (b) |
|
11,441,260 |
| |
313,252 |
|
Genomic Health (a) |
|
9,059,248 |
| |
|
|
|
|
143,390,937 |
| |
|
|
> Health Care Technology 0.6% |
|
|
| |
583,521 |
|
Medidata Solutions (a) |
|
32,537,131 |
| |
|
|
|
|
|
| |
|
|
> Pharmaceuticals 0.3% |
|
|
| |
719,638 |
|
Akorn (a) |
|
19,617,332 |
| |
Health Care: Total |
|
1,026,390,286 |
| |||
|
|
|
|
|
| |
Industrials 18.3% |
|
|
| |||
|
|
> Machinery 4.8% |
|
|
| |
1,459,456 |
|
Toro |
|
68,360,919 |
| |
729,975 |
|
Oshkosh Corporation |
|
40,878,600 |
| |
229,954 |
|
Snap-On |
|
34,943,810 |
| |
309,547 |
|
Nordson |
|
30,840,168 |
| |
403,577 |
|
Graco |
|
29,864,698 |
| |
246,794 |
|
WABCO Holdings (a) |
|
28,018,523 |
| |
217,946 |
|
Middleby (a) |
|
26,942,484 |
| |
|
|
|
|
259,849,202 |
| |
|
|
> Professional Services 2.9% |
|
|
| |
1,305,792 |
|
Robert Half International |
|
49,437,285 |
| |
798,026 |
|
WageWorks (a) |
|
48,607,764 |
| |
1,822,232 |
|
Navigant Consulting (a) |
|
36,845,531 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Professional Servicescontinued |
|
|
| |
295,064 |
|
Manpower |
|
$ |
21,321,324 |
|
|
|
|
|
156,211,904 |
| |
|
|
> Road & Rail 2.2% |
|
|
| |
202,212 |
|
Amerco |
|
65,563,197 |
| |
480,471 |
|
Old Dominion Freight Lines (a) |
|
32,965,115 |
| |
274,029 |
|
JB Hunt Transport Services |
|
22,234,713 |
| |
|
|
|
|
120,763,025 |
| |
|
|
> Electrical Equipment 1.8% |
|
|
| |
253,877 |
|
Acuity Brands |
|
67,175,854 |
| |
890,312 |
|
Generac (a) |
|
32,318,326 |
| |
|
|
|
|
99,494,180 |
| |
|
|
> Aerospace & Defense 1.8% |
|
|
| |
936,847 |
|
HEICO |
|
56,688,612 |
| |
780,337 |
|
B/E Aerospace |
|
40,312,209 |
| |
|
|
|
|
97,000,821 |
| |
|
|
> Air Freight & Logistics 1.7% |
|
|
| |
1,741,234 |
|
Expeditors International of Washington |
|
89,708,376 |
| |
|
|
|
|
|
| |
|
|
> Commercial Services & Supplies 1.7% |
|
|
| |
306,291 |
|
Cintas |
|
34,488,367 |
| |
220,648 |
|
UniFirst |
|
29,094,645 |
| |
887,660 |
|
Rollins |
|
25,990,685 |
| |
|
|
|
|
89,573,697 |
| |
|
|
> Trading Companies & Distributors 0.7% |
|
|
| |
258,581 |
|
Watsco |
|
36,434,063 |
| |
|
|
|
|
|
| |
|
|
> Industrial Conglomerates 0.7% |
|
|
| |
347,666 |
|
Carlisle Companies |
|
35,660,101 |
| |
Industrials: Total |
|
984,695,369 |
| |||
|
|
|
|
|
| |
Consumer Discretionary 16.8% |
|
|
| |||
|
|
> Hotels, Restaurants & Leisure 4.8% |
|
|
| |
449,288 |
|
Vail Resorts |
|
70,484,301 |
| |
694,647 |
|
Papa Johns International |
|
54,772,916 |
| |
672,348 |
|
Dunkin Brands |
|
35,015,884 |
| |
190,656 |
|
Dominos Pizza |
|
28,951,113 |
| |
503,240 |
|
Popeyes Louisiana Kitchen (a) |
|
26,742,174 |
| |
570,826 |
|
Texas Roadhouse |
|
22,279,339 |
| |
445,188 |
|
Choice Hotels |
|
20,069,075 |
| |
|
|
|
|
258,314,802 |
| |
|
|
> Auto Components 3.7% |
|
|
| |
1,238,085 |
|
Tenneco (a) |
|
72,143,213 |
| |
545,786 |
|
Drew Industries |
|
53,497,944 |
| |
2,279,802 |
|
Gentex |
|
40,033,306 |
| |
312,658 |
|
Cooper-Standard Holdings (a) |
|
30,890,610 |
| |
|
|
|
|
196,565,073 |
| |
|
|
> Specialty Retail 2.5% |
|
|
| |
959,069 |
|
Williams-Sonoma |
|
48,989,245 |
| |
537,680 |
|
Monro Muffler Brake |
|
32,889,886 |
| |
132,128 |
|
Ulta Salon Cosmetics & Fragrance (a) |
|
31,443,821 |
| |
496,991 |
|
Five Below (a) |
|
20,023,767 |
| |
|
|
|
|
133,346,719 |
| |
|
|
> Household Durables 2.0% |
|
|
| |
1,003,971 |
|
iRobot (a) |
|
44,154,644 |
| |
22,610 |
|
NVR (a) |
|
37,077,461 |
| |
283,853 |
|
Cavco Industries (a) |
|
28,115,640 |
| |
|
|
|
|
109,347,745 |
| |
|
|
> Distributors 1.0% |
|
|
| |
1,540,633 |
|
LKQ (a) |
|
54,630,846 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Textiles, Apparel & Luxury Goods 0.7% |
|
|
| |
1,423,717 |
|
Hanesbrands |
|
$ |
35,948,854 |
|
|
|
|
|
|
| |
|
|
> Media 0.6% |
|
|
| |
3,645,055 |
|
Global Eagle Entertainment (a) |
|
30,290,407 |
| |
|
|
|
|
|
| |
|
|
> Diversified Consumer Services 0.5% |
|
|
| |
433,256 |
|
Bright Horizons Family Solutions (a) |
|
28,980,494 |
| |
|
|
|
|
|
| |
|
|
> Internet & Direct Marketing Retail 0.5% |
|
|
| |
1,222,084 |
|
Liberty TripAdvisor Holdings Class A (a) |
|
26,702,535 |
| |
|
|
|
|
|
| |
|
|
> Leisure Products 0.5% |
|
|
| |
340,834 |
|
Polaris Industries (b) |
|
26,394,185 |
| |
Consumer Discretionary: Total |
|
900,521,660 |
| |||
|
|
|
|
|
| |
Financials 14.6% |
|
|
| |||
|
|
> Capital Markets 8.5% |
|
|
| |
2,190,555 |
|
Lazard |
|
79,648,580 |
| |
1,256,877 |
|
Raymond James Financial |
|
73,162,810 |
| |
1,377,791 |
|
Eaton Vance |
|
53,802,739 |
| |
370,140 |
|
Affiliated Managers Group (a) |
|
53,559,258 |
| |
727,504 |
|
CBOE Holdings |
|
47,178,634 |
| |
812,757 |
|
SEI Investments |
|
37,069,847 |
| |
906,841 |
|
Interactive Brokers Group |
|
31,984,282 |
| |
182,734 |
|
Factset Research Systems |
|
29,621,181 |
| |
168,189 |
|
MarketAxess |
|
27,850,416 |
| |
1,550,308 |
|
Ares Capital |
|
24,029,774 |
| |
|
|
|
|
457,907,521 |
| |
|
|
> Banks 4.3% |
|
|
| |
2,306,085 |
|
Associated Banc-Corp |
|
45,176,205 |
| |
629,191 |
|
BOK Financial (b) |
|
43,395,303 |
| |
330,175 |
|
Signature Bank (a) |
|
39,109,229 |
| |
1,000,350 |
|
MB Financial |
|
38,053,314 |
| |
326,109 |
|
SVB Financial Group (a) |
|
36,048,089 |
| |
352,000 |
|
First Republic Bank |
|
27,142,720 |
| |
|
|
|
|
228,924,860 |
| |
|
|
> Insurance 1.8% |
|
|
| |
861,371 |
|
Allied World Assurance Company Holdings |
|
34,816,616 |
| |
2,247,607 |
|
CNO Financial Group |
|
34,320,959 |
| |
714,000 |
|
FNF Group |
|
26,353,740 |
| |
|
|
|
|
95,491,315 |
| |
Financials: Total |
|
782,323,696 |
| |||
|
|
|
|
|
| |
Information Technology 14.4% |
|
|
| |||
|
|
> IT Services 5.2% |
|
|
| |
1,003,819 |
|
Vantiv (a) |
|
56,484,895 |
| |
571,026 |
|
Broadridge Financial Solutions |
|
38,709,852 |
| |
761,871 |
|
ExlService Holdings (a) |
|
37,971,651 |
| |
1,176,611 |
|
Booz Allen Hamilton |
|
37,192,674 |
| |
898,131 |
|
CoreLogic (a) |
|
35,224,698 |
| |
333,189 |
|
Global Payments |
|
25,575,588 |
| |
257,319 |
|
Gartner (a) |
|
22,759,865 |
| |
754,047 |
|
WNS - ADR (a) |
|
22,583,708 |
| |
|
|
|
|
276,502,931 |
| |
|
|
> Internet Software & Services 3.6% |
|
|
| |
707,725 |
|
SPS Commerce (a) |
|
51,954,092 |
| |
1,265,181 |
|
GoDaddy (a) |
|
43,686,700 |
| |
484,916 |
|
Verisign (a) |
|
37,939,828 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Internet Software & Servicescontinued |
|
|
| |
2,539,629 |
|
Quotient Technology (a) (b) |
|
$ |
33,802,462 |
|
952,838 |
|
NIC |
|
22,391,693 |
| |
146,000 |
|
Nutanix (a) |
|
5,402,000 |
| |
|
|
|
|
195,176,775 |
| |
|
|
> Software 3.4% |
|
|
| |
557,422 |
|
Ansys (a) |
|
51,622,851 |
| |
651,125 |
|
Synopsys (a) |
|
38,644,269 |
| |
187,889 |
|
Ultimate Software (a) |
|
38,402,633 |
| |
996,292 |
|
Cadence Design Systems (a) |
|
25,435,335 |
| |
371,927 |
|
Manhattan Associates (a) |
|
21,430,434 |
| |
242,086 |
|
Qualys (a) |
|
9,245,264 |
| |
|
|
|
|
184,780,786 |
| |
|
|
> Electronic Equipment, Instruments & Components 1.4% |
|
|
| |
1,058,507 |
|
CDW |
|
48,405,525 |
| |
296,310 |
|
IPG Photonics (a) |
|
24,401,128 |
| |
|
|
|
|
72,806,653 |
| |
|
|
> Semiconductors & Semiconductor Equipment 0.8% |
|
|
| |
600,967 |
|
MACOM Technology Solutions (a) |
|
25,444,943 |
| |
239,074 |
|
Monolithic Power Systems |
|
19,245,457 |
| |
|
|
|
|
44,690,400 |
| |
Information Technology: Total |
|
773,957,545 |
| |||
|
|
|
|
|
| |
Real Estate 5.3% |
|
|
| |||
|
|
> Equity Real Estate Investment Trusts (REITs) 3.9% |
|
|
| |
2,328,914 |
|
EdR |
|
100,469,350 |
| |
248,023 |
|
Federal Realty |
|
38,178,181 |
| |
400,490 |
|
Equity LifeStyle Properties |
|
30,909,818 |
| |
342,456 |
|
Lamar Advertising |
|
22,365,801 |
| |
254,951 |
|
Extra Space Storage |
|
20,245,659 |
| |
|
|
|
|
212,168,809 |
| |
|
|
> Real Estate Management & Development 1.4% |
|
|
| |
657,358 |
|
Jones Lang LaSalle |
|
74,800,767 |
| |
Total Real Estate: Total |
|
286,969,576 |
| |||
|
|
|
|
|
| |
Energy 4.0% |
|
|
| |||
|
|
> Oil, Gas & Consumable Fuels 2.3% |
|
|
| |
345,862 |
|
Cimarex Energy |
|
46,473,477 |
| |
479,034 |
|
Diamondback Energy (a) |
|
46,245,942 |
| |
696,004 |
|
Carrizo Oil & Gas (a) |
|
28,271,683 |
| |
|
|
|
|
120,991,102 |
| |
|
|
> Energy Equipment & Services 1.7% |
|
|
| |
1,460,416 |
|
ShawCor (Canada) |
|
36,033,131 |
| |
2,111,716 |
|
RPC (a) (b) |
|
35,476,829 |
| |
660,669 |
|
Oil States International (a) |
|
20,857,320 |
| |
|
|
|
|
92,367,280 |
| |
Energy: Total |
|
213,358,382 |
| |||
|
|
|
|
|
| |
Consumer Staples 2.0% |
|
|
| |||
|
|
> Household Products 1.5% |
|
|
| |
358,125 |
|
Spectrum Brands Holdings |
|
49,310,231 |
| |
294,074 |
|
WD-40 |
|
33,062,740 |
| |
|
|
|
|
82,372,971 |
| |
|
|
> Food & Staples Retailing 0.5% |
|
|
| |
1,185,078 |
|
US Foods (a) |
|
27,979,692 |
| |
|
|
Consumer Staples: Total |
|
110,352,663 |
| |
Number of Shares |
|
|
|
Value |
| |
Materials 1.9% |
|
|
| |||
|
|
> Chemicals 1.9% |
|
|
| |
284,388 |
|
International Flavors & Fragrances |
|
$ |
40,658,952 |
|
554,505 |
|
Celanese |
|
36,907,853 |
| |
885,394 |
|
Axalta Coating Systems (a) |
|
25,030,089 |
| |
|
|
|
|
102,596,894 |
| |
Materials: Total |
|
102,596,894 |
| |||
|
|
|
|
|
| |
Telecommunication Services 1.6% |
|
|
| |||
|
|
> Diversified Telecommunication Services 1.1% |
|
|
| |
340,337 |
|
SBA Communications (a) |
|
38,172,198 |
| |
768,051 |
|
Zayo Group (a) |
|
22,818,795 |
| |
|
|
|
|
60,990,993 |
| |
|
|
> Wireless Telecommunication Services 0.5% |
|
|
| |
2,639,127 |
|
Boingo Wireless (a) (c) Wi-Fi & Cellular Communications Networks |
|
27,130,226 |
| |
|
|
Telecommunication Services: Total |
|
88,121,219 |
| |
|
|
|
|
|
| |
Total Equities: 98.0% |
|
5,269,287,290 |
(d) | |||
|
|
|
|
|
| |
Short-Term Investments 2.9% |
|
|
| |||
155,789,267 |
|
JPMorgan U.S. Government Money Market Fund, IM Shares (7 day yield of 0.35%) |
|
155,789,267 |
| |
|
|
|
|
|
| |
Total Short-Term Investments: 2.9% |
|
155,789,267 |
| |||
|
|
|
|
|
| |
Securities Lending Collateral 2.4% |
|
|
| |||
126,588,683 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.30%) (e) |
|
126,588,683 |
| |
|
|
|
| |||
Total Securities Lending Collateral: 2.4% |
|
126,588,683 |
| |||
|
|
|
| |||
Total Investments: 103.3% |
|
5,551,665,240 |
(g) | |||
|
|
|
| |||
Obligation to Return Collateral for Securities Loaned: (2.4)% |
|
(126,588,683 |
) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: (0.9)% |
|
(50,409,604 |
) | |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
5,374,666,953 |
|
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, 2016. The total market value of securities on loan at September 30, 2016 was $125,881,333.
(c) 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, 2016, are as follows:
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
Quotient Technology (1) |
|
4,634,954 |
|
1,782,619 |
|
3,877,944 |
|
2,539,629 |
|
$ |
33,802,462 |
|
$ |
|
|
Boingo Wireless |
|
2,727,319 |
|
647,886 |
|
736,078 |
|
2,639,127 |
|
27,130,226 |
|
|
| ||
Bankrate (1) |
|
7,126,562 |
|
|
|
7,126,562 |
|
|
|
|
|
|
| ||
Fiesta Restaurant Group (1) |
|
1,453,484 |
|
516,572 |
|
1,970,056 |
|
|
|
|
|
|
| ||
Gaiam (1) |
|
1,893,824 |
|
|
|
1,893,824 |
|
|
|
|
|
|
| ||
Hackett Group (1) |
|
1,899,313 |
|
|
|
1,899,313 |
|
|
|
|
|
|
| ||
Kirkland Lake Gold (1) |
|
5,119,843 |
|
|
|
5,119,843 |
|
|
|
|
|
|
| ||
ShaMaran Petroleum (1) |
|
90,046,000 |
|
|
|
90,046,000 |
|
|
|
|
|
|
| ||
Vonage (1) |
|
13,576,409 |
|
|
|
13,576,409 |
|
|
|
|
|
|
| ||
Total of Affiliated Transactions |
|
128,477,708 |
|
2,947,077 |
|
126,246,029 |
|
5,178,756 |
|
$ |
60,932,688 |
|
$ |
|
|
(1) At September 30, 2016, the Fund owned less than five percent of the companys outstanding voting shares.
The aggregate cost and value of these companies at September 30, 2016, was $22,148,435 and $27,130,226, respectively. Investments in affiliated companies represented 0.50% of the Funds total net assets at September 30, 2016.
(d) On September 30, 2016, the market value of foreign securities represented 0.67% of total net assets. The Funds foreign portfolio was diversified as follows:
Country |
|
Value |
|
Percentage of |
| |
Canada |
|
$ |
36,033,131 |
|
0.67 |
|
(e) Investment made with cash collateral received from securities lending activity.
(f) At September 30, 2016, for federal income tax purposes, the cost of investments was approximately $4,018,352,173 and net unrealized appreciation was $1,533,313,067 consisting of gross unrealized appreciation of $1,598,173,530 and gross unrealized depreciation of $64,860,463.
(g) Securities are valued using policies described in the Notes to Financial Statements in the shareholder report dated June 30, 2016.
Fair Value Measurements
Various inputs are used in determining the value of the Funds 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 managements 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.
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 CWAMs Valuation Committee (the Committee) 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.
The Committee is responsible for applying the Trusts Portfolio Pricing Policy and the CWAM pricing procedures (the Policies), which are approved by and subject to the oversight of 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 CWAM believes that available market quotations are unreliable. The Committee also reviews the continuing appropriateness of the Policies. In circumstances where a security has been fair valued, the Committee will also review the continuing appropriateness of the current value of the security. 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; circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default; and certain delegations of authority to determine fair values to the Funds investment manager. 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, 2016, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other Significant |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Health Care |
|
$ |
1,026,390,286 |
|
$ |
|
|
$ |
|
|
$ |
1,026,390,286 |
|
Industrials |
|
984,695,369 |
|
|
|
|
|
984,695,369 |
| ||||
Consumer Discretionary |
|
900,521,660 |
|
|
|
|
|
900,521,660 |
| ||||
Financials |
|
782,323,696 |
|
|
|
|
|
782,323,696 |
| ||||
Information Technology |
|
773,957,545 |
|
|
|
|
|
773,957,545 |
| ||||
Real Estate |
|
286,969,576 |
|
|
|
|
|
286,969,576 |
| ||||
Energy |
|
213,358,382 |
|
|
|
|
|
213,358,382 |
| ||||
Consumer Staples |
|
110,352,663 |
|
|
|
|
|
110,352,663 |
| ||||
Materials |
|
102,596,894 |
|
|
|
|
|
102,596,894 |
| ||||
Telecommunication Services |
|
88,121,219 |
|
|
|
|
|
88,121,219 |
| ||||
Total Equities |
|
5,269,287,290 |
|
|
|
|
|
5,269,287,290 |
| ||||
Total Short-Term Investments |
|
155,789,267 |
|
|
|
|
|
155,789,267 |
| ||||
Total Securities Lending Collateral |
|
126,588,683 |
|
|
|
|
|
126,588,683 |
| ||||
Total Investments |
|
$ |
5,551,665,240 |
|
$ |
|
|
$ |
|
|
$ |
5,551,665,240 |
|
There were no transfers of financial assets between levels during the period.
Columbia Acorn International
Statement of Investments (Unaudited), September 30, 2016
Number of Shares |
|
|
|
Value |
| |
|
|
|
Equities: 96.7% |
| ||
Europe 44.6% |
|
|
| |||
|
|
> United Kingdom 12.9% |
|
|
| |
1,725,000 |
|
Rightmove |
|
$ |
94,397,913 |
|
5,715,171 |
|
Halma |
|
77,706,935 |
| |
5,956,658 |
|
Abcam |
|
64,854,037 |
| |
4,852,498 |
|
Shaftesbury |
|
61,008,755 |
| |
21,000,000 |
|
Rentokil Initial |
|
60,508,143 |
| |
2,458,480 |
|
WH Smith |
|
49,009,253 |
| |
1,055,758 |
|
Croda International |
|
47,675,756 |
| |
2,915,904 |
|
Smith & Nephew |
|
47,016,323 |
| |
9,222,000 |
|
Dominos Pizza UK & Ireland |
|
44,644,790 |
| |
638,583 |
|
Next |
|
39,530,903 |
| |
602,203 |
|
Spirax Sarco |
|
35,085,500 |
| |
9,295,866 |
|
Ocado (a) (b) |
|
31,869,158 |
| |
5,797,788 |
|
DS Smith |
|
28,879,374 |
| |
5,960,358 |
|
Regus |
|
20,155,867 |
| |
704,677 |
|
PureCircle (a) |
|
2,520,892 |
| |
|
|
|
|
704,863,599 |
| |
|
|
> Sweden 6.2% |
|
|
| |
2,399,596 |
|
Hexagon |
|
104,780,233 |
| |
4,611,015 |
|
Trelleborg |
|
90,298,237 |
| |
7,374,685 |
|
Unibet |
|
68,513,358 |
| |
826,173 |
|
Millicom |
|
42,855,293 |
| |
1,312,822 |
|
Sweco |
|
27,055,874 |
| |
243,961 |
|
Mekonomen (b) |
|
4,749,089 |
| |
|
|
|
|
338,252,084 |
| |
|
|
> Germany 5.8% |
|
|
| |
1,968,514 |
|
Wirecard (b) |
|
102,273,965 |
| |
565,000 |
|
MTU Aero Engines |
|
57,154,051 |
| |
636,639 |
|
Fielmann |
|
51,885,440 |
| |
1,010,000 |
|
Zalando (a) |
|
42,149,754 |
| |
853,000 |
|
Ströer (b) |
|
37,063,834 |
| |
58,610 |
|
Rational |
|
29,364,420 |
| |
|
|
|
|
319,891,464 |
| |
|
|
> Switzerland 5.0% |
|
|
| |
204,500 |
|
Partners Group |
|
103,144,622 |
| |
136,000 |
|
Geberit |
|
59,551,621 |
| |
28,285 |
|
Givaudan |
|
57,559,902 |
| |
301,310 |
|
Actelion |
|
52,167,105 |
| |
|
|
|
|
272,423,250 |
| |
|
|
> Denmark 4.4% |
|
|
| |
2,490,923 |
|
Novozymes |
|
109,552,657 |
| |
1,263,620 |
|
SimCorp |
|
73,400,881 |
| |
2,966,887 |
|
William Demant Holding (a) |
|
60,565,158 |
| |
|
|
|
|
243,518,696 |
| |
|
|
> Spain 3.9% |
|
|
| |
12,927,171 |
|
Distribuidora Internacional de Alimentación |
|
80,029,251 |
| |
10,392,279 |
|
Prosegur |
|
72,613,276 |
| |
609,424 |
|
Viscofan |
|
32,970,147 |
| |
948,207 |
|
Bolsas y Mercados Españoles |
|
28,168,361 |
| |
|
|
|
|
213,781,035 |
| |
|
|
> France 2.4% |
|
|
| |
880,603 |
|
Legrand |
|
51,914,519 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Francecontinued |
|
|
| |
1,966,291 |
|
Elior Group |
|
$ |
45,015,992 |
|
78,730 |
|
Eurofins Scientific |
|
35,761,238 |
| |
|
|
|
|
132,691,749 |
| |
|
|
> Netherlands 2.3% |
|
|
| |
2,044,797 |
|
Aalberts Industries |
|
69,714,601 |
| |
734,808 |
|
Gemalto |
|
47,116,464 |
| |
606,135 |
|
Brunel |
|
10,605,039 |
| |
|
|
|
|
127,436,104 |
| |
|
|
> Italy 1.1% |
|
|
| |
1,048,543 |
|
Brembo |
|
62,545,435 |
| |
|
|
|
|
|
| |
|
|
> Finland 0.6% |
|
|
| |
902,120 |
|
Konecranes (b) |
|
31,962,508 |
| |
Europe: Total |
|
2,447,365,924 |
| |||
|
|
|
|
|
| |
Asia 38.5% |
|
|
| |||
|
|
> Japan 22.3% |
|
|
| |
4,700,000 |
|
Aeon Mall |
|
74,235,929 |
| |
958,600 |
|
FamilyMart |
|
63,992,648 |
| |
536,300 |
|
Hikari Tsushin |
|
49,801,133 |
| |
2,996,600 |
|
Santen Pharmaceutical |
|
44,248,918 |
| |
13,100,000 |
|
Seven Bank |
|
41,957,868 |
| |
2,905,000 |
|
Sekisui Chemical |
|
41,780,265 |
| |
1,336,000 |
|
DIP |
|
41,576,453 |
| |
339,600 |
|
Disco |
|
40,220,793 |
| |
2,900,000 |
|
Sony Financial Holdings |
|
39,937,986 |
| |
437,400 |
|
Hoshizaki Electric |
|
39,915,299 |
| |
865,200 |
|
Asahi Intecc |
|
39,595,445 |
| |
1,200,000 |
|
Glory |
|
39,568,835 |
| |
3,827,000 |
|
NOF |
|
38,962,101 |
| |
2,149,400 |
|
Aeon Financial Service |
|
37,623,477 |
| |
3,000,000 |
|
Ushio |
|
34,564,348 |
| |
645,300 |
|
OBIC |
|
34,361,478 |
| |
881,400 |
|
Askul |
|
33,432,793 |
| |
13,500 |
|
Japan Retail Fund |
|
33,295,988 |
| |
5,300 |
|
Kenedix Office Investment |
|
32,583,519 |
| |
1,196,800 |
|
Aica Kogyo |
|
31,835,563 |
| |
772,100 |
|
Recruit Holdings |
|
31,496,430 |
| |
580,000 |
|
Sohgo Security Services |
|
31,170,839 |
| |
1,153,000 |
|
MonotaRO |
|
31,082,491 |
| |
665,800 |
|
JIN (b) |
|
30,886,842 |
| |
1,275,000 |
|
Suruga Bank |
|
30,561,284 |
| |
1,523,600 |
|
OSG (b) |
|
30,377,454 |
| |
633,300 |
|
Otsuka |
|
30,079,629 |
| |
974,800 |
|
Bandai Namco |
|
29,836,760 |
| |
380,000 |
|
Makita |
|
27,074,931 |
| |
441,100 |
|
Ezaki Glico |
|
26,790,999 |
| |
1,250,000 |
|
NGK Insulators |
|
25,975,714 |
| |
1,420,000 |
|
NGK Spark Plug |
|
25,091,877 |
| |
630,000 |
|
Japan Airport Terminal (b) |
|
24,090,181 |
| |
189,100 |
|
Seria |
|
15,203,076 |
| |
5,720 |
|
Hirose Electric |
|
752,079 |
| |
|
|
|
|
1,223,961,425 |
| |
|
|
> Taiwan 4.0% |
|
|
| |
340,000 |
|
Largan Precision |
|
41,438,009 |
| |
3,256,844 |
|
PChome Online |
|
38,551,164 |
| |
4,125,686 |
|
Advantech |
|
35,510,612 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Taiwancontinued |
|
|
| |
17,148,352 |
|
Vanguard International Semiconductor |
|
$ |
32,217,511 |
|
12,426,000 |
|
Far EasTone Telecom |
|
29,380,428 |
| |
1,198,000 |
|
St. Shine Optical |
|
27,983,972 |
| |
1,100,000 |
|
Silergy |
|
16,315,799 |
| |
|
|
|
|
221,397,495 |
| |
|
|
> Korea 2.5% |
|
|
| |
781,101 |
|
KEPCO Plant Service & Engineering |
|
41,135,723 |
| |
1,096,382 |
|
Korea Investment Holdings |
|
40,856,703 |
| |
36,669 |
|
Orion Corp |
|
27,635,317 |
| |
230,661 |
|
KT&G |
|
26,267,538 |
| |
|
|
|
|
135,895,281 |
| |
|
|
> China 2.2% |
|
|
| |
3,028,652 |
|
Vipshop - ADR (a) |
|
44,430,325 |
| |
16,586,000 |
|
TravelSky Technology |
|
39,587,583 |
| |
30,407,000 |
|
China Everbright International |
|
36,455,027 |
| |
2,706,000 |
|
NewOcean Energy |
|
729,246 |
| |
|
|
|
|
121,202,181 |
| |
|
|
> India 2.1% |
|
|
| |
7,930,285 |
|
Zee Entertainment Enterprises |
|
65,279,797 |
| |
6,416,931 |
|
TVS Motor |
|
35,363,203 |
| |
1,271,334 |
|
United Breweries |
|
17,289,324 |
| |
|
|
|
|
117,932,324 |
| |
|
|
> Hong Kong 1.5% |
|
|
| |
12,860,600 |
|
Samsonite International |
|
41,466,758 |
| |
38,079,000 |
|
Value Partners |
|
39,451,433 |
| |
|
|
|
|
80,918,191 |
| |
|
|
> Singapore 1.4% |
|
|
| |
7,897,000 |
|
Singapore Exchange |
|
43,073,974 |
| |
25,000,000 |
|
Mapletree Commercial Trust |
|
29,331,965 |
| |
12,332,500 |
|
SIIC Environment (a) |
|
5,606,915 |
| |
|
|
|
|
78,012,854 |
| |
|
|
> Thailand 1.1% |
|
|
| |
103,058,001 |
|
Home Product Center |
|
29,828,114 |
| |
2,579,900 |
|
Airports of Thailand |
|
29,753,829 |
| |
|
|
|
|
59,581,943 |
| |
|
|
> Indonesia 0.6% |
|
|
| |
24,382,400 |
|
Matahari Department Store |
|
34,621,372 |
| |
|
|
|
|
|
| |
|
|
> Philippines 0.5% |
|
|
| |
6,800,000 |
|
Universal Robina |
|
25,025,404 |
| |
|
|
|
|
|
| |
|
|
> Cambodia 0.3% |
|
|
| |
22,000,000 |
|
Nagacorp |
|
14,521,186 |
| |
Asia: Total |
|
2,113,069,656 |
| |||
|
|
|
|
|
| |
Other Countries 12.5% |
|
|
| |||
|
|
> Canada 5.8% |
|
|
| |
582,939 |
|
CCL Industries |
|
112,242,251 |
| |
1,145,719 |
|
Vermilion Energy (b) |
|
44,380,837 |
| |
1,975,105 |
|
PrairieSky Royalty (b) |
|
40,271,397 |
| |
1,010,554 |
|
Boardwalk Real Estate Investment Trust (b) |
|
39,861,404 |
| |
2,295,066 |
|
CAE |
|
32,590,479 |
| |
1,185,000 |
|
ShawCor |
|
29,237,738 |
| |
Number of Shares |
|
|
|
Value |
| ||
|
|
> Canadacontinued |
|
|
| ||
817,269 |
|
Uni-Select |
|
$ |
19,921,691 |
| |
|
|
|
|
318,505,797 |
| ||
|
|
> Australia 2.5% |
|
|
| ||
1,602,353 |
|
Dominos Pizza Enterprises |
|
86,818,767 |
| ||
2,475,208 |
|
Amcor |
|
28,829,486 |
| ||
891,207 |
|
Sirtex |
|
21,664,159 |
| ||
|
|
|
|
137,312,412 |
| ||
|
|
> United States 1.4% |
|
|
| ||
952,000 |
|
LivaNova (a) |
|
57,224,720 |
| ||
290,000 |
|
Ultragenyx Pharmaceutical (a) |
|
20,572,600 |
| ||
|
|
|
|
77,797,320 |
| ||
|
|
> South Africa 1.4% |
|
|
| ||
8,281,610 |
|
Coronation Fund Managers |
|
42,390,256 |
| ||
10,864,098 |
|
Rand Merchant Insurance |
|
32,776,364 |
| ||
|
|
|
|
75,166,620 |
| ||
|
|
> Guatemala 0.7% |
|
|
| ||
3,151,582 |
|
Tahoe Resources |
|
40,405,205 |
| ||
|
|
|
|
|
| ||
|
|
> New Zealand 0.7% |
|
|
| ||
7,017,369 |
|
Auckland International Airport |
|
37,611,849 |
| ||
Other Countries: Total |
|
686,799,203 |
| ||||
|
|
|
|
|
| ||
Latin America 1.1% |
|
|
| ||||
|
|
> Mexico 1.1% |
|
|
| ||
384,900 |
|
Grupo Aeroportuario del Sureste - ADR |
|
56,357,058 |
| ||
Latin America: Total |
|
56,357,058 |
| ||||
|
|
|
|
|
| ||
Total Equities: 96.7% |
|
5,303,591,841 |
(c) | ||||
|
|
|
|
|
| ||
Short-Term Investments 3.4% |
|
|
| ||||
$ |
189,056,620 |
|
JPMorgan U.S. Government Money Market Fund, IM Shares (7 day yield of 0.35%) |
|
189,056,620 |
| |
|
|
|
|
|
| ||
Total Short-Term Investments: 3.4% |
|
189,056,620 |
| ||||
|
|
|
|
|
| ||
Securities Lending Collateral 4.7% |
|
|
| ||||
256,628,949 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.30%) (d) |
|
256,628,949 |
| ||
|
|
|
|
|
| ||
Total Securities Lending Collateral: 4.7% |
|
256,628,949 |
| ||||
|
|
|
|
|
| ||
Total Investments: 104.8% |
|
5,749,277,410 |
(f) (g) | ||||
|
|
|
|
|
| ||
Obligation to Return Collateral for Securities Loaned: (4.7)% |
|
(256,628,949 |
) | ||||
|
|
|
|
|
| ||
Cash and Other Assets Less Liabilities: (0.1)% |
|
(5,993,313 |
) | ||||
|
|
|
|
|
| ||
Net Assets: 100.0% |
|
$ |
5,486,655,148 |
| |||
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, 2016. The total market value of securities on loan at September 30, 2016 was $243,762,763.
(c) On September 30, 2016, the Funds total equity investments were denominated in currencies as follows:
Currency |
|
Value |
|
Percentage of |
| |
Japanese Yen |
|
1,223,961,425 |
|
22.3 |
| |
Euro |
|
888,308,295 |
|
16.2 |
| |
British Pound |
|
704,863,599 |
|
12.9 |
| |
Canadian Dollar |
|
358,911,003 |
|
6.5 |
| |
Swedish Krona |
|
338,252,084 |
|
6.2 |
| |
Swiss Franc |
|
272,423,250 |
|
5.0 |
| |
Other currencies less than 5% of total net assets |
|
1,516,872,185 |
|
27.6 |
| |
Total Equities |
|
$ |
5,303,591,841 |
|
96.7 |
|
(d) Investment made with cash collateral received from securities lending activity.
(e) At September 30, 2016, for federal income tax purposes, the cost of investments was approximately $4,376,764,515 and net unrealized appreciation was $1,372,512,895 consisting of gross unrealized appreciation of $1,527,314,403 and gross unrealized depreciation of $154,801,508.
(f) 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, 2016, are as follows:
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
Spotless |
|
63,000,000 |
|
|
|
63,000,000 |
|
|
|
$ |
|
|
$ |
1,686,164 |
|
At September 30, 2016, the fund did not hold any investments in affiliated companies.
(g) Securities are valued using policies described in the Notes to Financial Statements in the shareholder report dated June 30, 2016.
Fair Value Measurements
Various inputs are used in determining the value of the Funds 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 managements 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.
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 CWAMs Valuation Committee (the Committee) 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.
The Committee is responsible for applying the Trusts Portfolio Pricing Policy and the CWAM pricing procedures (the Policies), which are approved by and subject to the oversight of 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 CWAM believes that available market quotations are unreliable. The Committee also reviews the continuing appropriateness of the Policies. In circumstances where a security has been fair valued, the Committee will also review the continuing appropriateness of the current value of the security. 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; circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default; and certain delegations of authority to determine fair values to the Funds investment manager. 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, 2016, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Europe |
|
$ |
|
|
$ |
2,447,365,924 |
|
$ |
|
|
$ |
2,447,365,924 |
|
Asia |
|
44,430,325 |
|
2,068,639,331 |
|
|
|
2,113,069,656 |
| ||||
Other Countries |
|
436,708,322 |
|
250,090,881 |
|
|
|
686,799,203 |
| ||||
Latin America |
|
56,357,058 |
|
|
|
|
|
56,357,058 |
| ||||
Total Equities |
|
537,495,705 |
|
4,766,096,136 |
|
|
|
5,303,591,841 |
| ||||
Total Short-Term Investments |
|
189,056,620 |
|
|
|
|
|
189,056,620 |
| ||||
Total Securities Lending Collateral |
|
256,628,949 |
|
|
|
|
|
256,628,949 |
| ||||
Total Investments |
|
$ |
983,181,274 |
|
$ |
4,766,096,136 |
|
$ |
|
|
$ |
5,749,277,410 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys 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.
There were no transfers of financial assets between Levels 1 and 2 during the period.
Financial assets were transferred from Level 3 to Level 2 as trading resumed during the period.
The following table shows transfers from Level 2 and Level 3 of the fair value hierarchy:
Transfers In |
|
Transfers Out |
| ||||||
Level 2 |
|
Level 3 |
|
Level 2 |
|
Level 3 |
| ||
$ |
34,937,684 |
|
|
|
|
|
$ |
34,937,684 |
|
Transfers into and/or out of Level 3 are determined based on the fair value at the beginning of the period for security positions.
Portfolio Diversification (Unaudited)
At September 30, 2016, the Funds portfolio investments as a percentage of net assets were diversified as follows:
|
|
Value |
|
Percentage |
| |
> Industrials |
|
|
|
|
| |
Machinery |
|
$ |
419,337,500 |
|
7.6 |
|
Commercial Services & Supplies |
|
262,038,874 |
|
4.8 |
| |
Transportation Infrastructure |
|
147,812,917 |
|
2.7 |
| |
Building Products |
|
91,387,184 |
|
1.7 |
| |
Aerospace & Defense |
|
89,744,530 |
|
1.6 |
| |
Electrical Equipment |
|
86,478,867 |
|
1.6 |
| |
Professional Services |
|
42,101,469 |
|
0.8 |
| |
Trading Companies & Distributors |
|
31,082,491 |
|
0.5 |
| |
Construction & Engineering |
|
27,055,874 |
|
0.5 |
| |
|
|
1,197,039,706 |
|
21.8 |
| |
> Consumer Discretionary |
|
|
|
|
| |
Hotels, Restaurants & Leisure |
|
259,514,092 |
|
4.7 |
| |
Specialty Retail |
|
216,159,871 |
|
3.9 |
| |
Internet & Catalog Retail |
|
151,882,030 |
|
2.8 |
| |
Media |
|
102,343,632 |
|
1.9 |
| |
Multiline Retail |
|
89,355,351 |
|
1.6 |
| |
Auto Components |
|
87,637,312 |
|
1.6 |
| |
Household Durables |
|
41,780,265 |
|
0.8 |
| |
Textiles, Apparel & Luxury Goods |
|
41,466,758 |
|
0.8 |
| |
Automobiles |
|
35,363,202 |
|
0.6 |
| |
Leisure Products |
|
29,836,760 |
|
0.5 |
| |
Distributors |
|
19,921,691 |
|
0.4 |
| |
|
|
1,075,260,964 |
|
19.6 |
| |
> Information Technology |
|
|
|
|
| |
Electronic Equipment, Instruments & Components |
|
224,677,255 |
|
4.1 |
| |
IT Services |
|
206,302,655 |
|
3.8 |
| |
Internet Software & Services |
|
174,525,529 |
|
3.2 |
| |
Software |
|
120,517,345 |
|
2.2 |
| |
Semiconductors & Semiconductor Equipment |
|
88,754,103 |
|
1.6 |
| |
Technology Hardware, Storage & Peripherals |
|
35,510,613 |
|
0.6 |
| |
|
|
850,287,500 |
|
15.5 |
| |
> Financials |
|
|
|
|
| |
Capital Markets |
|
297,085,348 |
|
5.4 |
| |
Insurance |
|
72,714,350 |
|
1.4 |
| |
Banks |
|
72,519,152 |
|
1.3 |
| |
Consumer Finance |
|
37,623,478 |
|
0.7 |
| |
|
|
479,942,328 |
|
8.8 |
| |
> Health Care |
|
|
|
|
| |
Health Care Equipment & Supplies |
|
232,385,619 |
|
4.2 |
| |
Biotechnology |
|
159,257,900 |
|
2.9 |
| |
Pharmaceuticals |
|
44,248,918 |
|
0.8 |
| |
Life Sciences Tools & Services |
|
35,761,238 |
|
0.7 |
| |
|
|
471,653,675 |
|
8.6 |
| |
> Materials |
|
|
|
|
| |
Chemicals |
|
253,750,417 |
|
4.7 |
| |
Containers & Packaging |
|
169,951,111 |
|
3.1 |
| |
Metals & Mining |
|
40,405,205 |
|
0.7 |
| |
|
|
464,106,733 |
|
8.5 |
| |
> Consumer Staples |
|
|
|
|
| |
Food & Staples Retailing |
|
144,021,900 |
|
2.6 |
| |
Food Products |
|
114,942,758 |
|
2.1 |
| |
Tobacco |
|
26,267,538 |
|
0.5 |
| |
Beverages |
|
17,289,324 |
|
0.3 |
| |
|
|
302,521,520 |
|
5.5 |
| |
> Real Estate |
|
|
|
|
| |
Equity Real Estate Investment Trusts (REITs) |
|
196,081,631 |
|
3.5 |
| |
Real Estate Management & Development |
|
74,235,930 |
|
1.4 |
| |
|
|
270,317,561 |
|
4.9 |
| |
> Energy |
|
|
|
|
| |
Oil, Gas & Consumable Fuels |
|
85,381,480 |
|
1.6 |
| |
Energy Equipment & Services |
|
29,237,738 |
|
0.5 |
| |
|
|
114,619,218 |
|
2.1 |
| |
> Telecommunication Services |
|
|
|
|
| |
Wireless Telecommunication Services |
|
72,235,721 |
|
1.3 |
| |
|
|
72,235,721 |
|
1.3 |
| |
> Utilities |
|
|
|
|
| |
Water Utilities |
|
5,606,915 |
|
0.1 |
| |
|
|
5,606,915 |
|
0.1 |
| |
|
|
|
|
|
| |
Total Equities: |
|
5,303,591,841 |
|
96.7 |
| |
|
|
|
|
|
| |
Short-Term Investments: |
|
189,056,620 |
|
3.4 |
| |
Securities Lending Collateral: |
|
256,628,949 |
|
4.7 |
| |
Total Investments: |
|
5,749,277,410 |
|
104.8 |
| |
Obligation to Return Collateral for Securities Loaned: |
|
(256,628,949 |
) |
(4.7 |
) | |
Cash and Other Assets Less Liabilities: |
|
(5,993,313 |
) |
(0.1 |
) | |
|
|
|
|
|
| |
Net Assets: |
|
$ |
5,486,655,148 |
|
100.0 |
|
Columbia Acorn USA
Statement of Investments (Unaudited), September 30, 2016
Number of Shares |
|
|
|
Value |
| |
|
|
|
Equities: 95.9% |
| ||
Health Care 21.5% |
|
|
| |||
|
|
> Biotechnology 5.8% |
|
|
| |
242,202 |
|
Repligen (a) |
|
$ |
7,312,078 |
|
53,632 |
|
Ligand Pharmaceuticals (a) (b) |
|
5,473,682 |
| |
74,940 |
|
Ultragenyx Pharmaceutical (a) |
|
5,316,244 |
| |
242,039 |
|
Exact Sciences (a) |
|
4,494,664 |
| |
77,129 |
|
Seattle Genetics (a) |
|
4,165,737 |
| |
73,192 |
|
Agios Pharmaceuticals (a) (b) |
|
3,866,002 |
| |
88,000 |
|
Clovis Oncology (a) |
|
3,172,400 |
| |
15,012 |
|
Intercept Pharmaceuticals (a) (b) |
|
2,470,825 |
| |
64,198 |
|
Genomic Health (a) |
|
1,856,606 |
| |
|
|
|
|
38,128,238 |
| |
|
|
> Health Care Providers & Services 5.5% |
|
|
| |
140,295 |
|
Mednax (a) |
|
9,294,544 |
| |
228,382 |
|
HealthSouth |
|
9,265,458 |
| |
208,085 |
|
AMN Healthcare Services (a) |
|
6,631,669 |
| |
84,925 |
|
VCA (a) |
|
5,943,051 |
| |
150,183 |
|
TeamHealth (a) |
|
4,889,958 |
| |
|
|
|
|
36,024,680 |
| |
|
|
> Health Care Equipment & Supplies 5.5% |
|
|
| |
108,904 |
|
West Pharmaceutical Services |
|
8,113,348 |
| |
178,832 |
|
ZELTIQ Aesthetics (a) |
|
7,013,791 |
| |
486,383 |
|
Endologix (a) |
|
6,225,703 |
| |
274,413 |
|
LeMaitre Vascular |
|
5,444,354 |
| |
115,000 |
|
Natus Medical (a) |
|
4,518,350 |
| |
35,016 |
|
Abiomed (a) |
|
4,502,357 |
| |
|
|
|
|
35,817,903 |
| |
|
|
> Life Sciences Tools & Services 3.2% |
|
|
| |
312,057 |
|
VWR (a) |
|
8,849,937 |
| |
79,887 |
|
Bio-Techne |
|
8,747,626 |
| |
82,691 |
|
Cambrex (a) |
|
3,676,442 |
| |
|
|
|
|
21,274,005 |
| |
|
|
> Health Care Technology 0.9% |
|
|
| |
109,134 |
|
Medidata Solutions (a) |
|
6,085,312 |
| |
|
|
|
|
|
| |
|
|
> Pharmaceuticals 0.6% |
|
|
| |
142,025 |
|
Akorn (a) |
|
3,871,601 |
| |
Health Care: Total |
|
141,201,739 |
| |||
|
|
|
|
|
| |
Information Technology 18.9% |
|
|
| |||
|
|
> Internet Software & Services 7.3% |
|
|
| |
365,981 |
|
Q2 Holdings (a) |
|
10,489,015 |
| |
46,816 |
|
CoStar Group (a) |
|
10,137,069 |
| |
124,444 |
|
J2 Global Communications |
|
8,289,215 |
| |
281,595 |
|
NIC |
|
6,617,483 |
| |
85,247 |
|
SPS Commerce (a) |
|
6,257,982 |
| |
322,895 |
|
Mimecast (a) |
|
6,176,981 |
| |
|
|
|
|
47,967,745 |
| |
|
|
> Software 5.2% |
|
|
| |
100,225 |
|
Ansys (a) |
|
9,281,837 |
| |
138,523 |
|
Guidewire (a) |
|
8,308,610 |
| |
40,964 |
|
Tyler Technologies (a) |
|
7,014,266 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Softwarecontinued |
|
|
| |
83,879 |
|
Manhattan Associates (a) |
|
$ |
4,833,108 |
|
155,243 |
|
Apptio (a) |
|
3,368,773 |
| |
42,673 |
|
Qualys (a) |
|
1,629,682 |
| |
|
|
|
|
34,436,276 |
| |
|
|
> IT Services 4.4% |
|
|
| |
168,919 |
|
ExlService Holdings (a) |
|
8,418,923 |
| |
237,680 |
|
WNS - ADR (a) |
|
7,118,516 |
| |
123,605 |
|
Maximus |
|
6,991,099 |
| |
156,189 |
|
CoreLogic (a) |
|
6,125,732 |
| |
|
|
|
|
28,654,270 |
| |
|
|
> Semiconductors & Semiconductor Equipment 1.4% |
|
|
| |
115,310 |
|
Monolithic Power Systems |
|
9,282,455 |
| |
|
|
|
|
|
| |
|
|
> Electronic Equipment, Instruments & Components 0.6% |
|
|
| |
47,363 |
|
IPG Photonics (a) |
|
3,900,343 |
| |
Information Technology: Total |
|
124,241,089 |
| |||
|
|
|
|
|
| |
Industrials 18.7% |
|
|
| |||
|
|
> Machinery 5.9% |
|
|
| |
221,346 |
|
Toro |
|
10,367,846 |
| |
175,952 |
|
ESCO Technologies |
|
8,167,692 |
| |
144,140 |
|
Oshkosh Corporation |
|
8,071,840 |
| |
67,076 |
|
Nordson |
|
6,682,782 |
| |
46,314 |
|
Middleby (a) |
|
5,725,337 |
| |
|
|
|
|
39,015,497 |
| |
|
|
> Commercial Services & Supplies 5.0% |
|
|
| |
90,974 |
|
UniFirst |
|
11,995,832 |
| |
193,912 |
|
Healthcare Services Group |
|
7,675,037 |
| |
317,448 |
|
Knoll |
|
7,253,687 |
| |
111,276 |
|
Copart (a) |
|
5,959,942 |
| |
|
|
|
|
32,884,498 |
| |
|
|
> Aerospace & Defense 3.6% |
|
|
| |
120,733 |
|
HEICO |
|
7,305,554 |
| |
254,639 |
|
Taser (a) |
|
7,285,221 |
| |
123,496 |
|
Astronics (a) |
|
5,563,495 |
| |
69,000 |
|
B/E Aerospace |
|
3,564,540 |
| |
|
|
|
|
23,718,810 |
| |
|
|
> Professional Services 3.3% |
|
|
| |
219,355 |
|
ICF International (a) |
|
9,721,814 |
| |
120,067 |
|
WageWorks (a) |
|
7,313,281 |
| |
230,374 |
|
Navigant Consulting (a) |
|
4,658,162 |
| |
|
|
|
|
21,693,257 |
| |
|
|
> Trading Companies & Distributors 0.9% |
|
|
| |
40,917 |
|
Watsco |
|
5,765,205 |
| |
Industrials: Total |
|
123,077,267 |
| |||
|
|
|
|
|
| |
Consumer Discretionary 16.9% |
|
|
| |||
|
|
> Hotels, Restaurants & Leisure 5.8% |
|
|
| |
116,979 |
|
Papa Johns International |
|
9,223,794 |
| |
56,585 |
|
Vail Resorts |
|
8,877,055 |
| |
197,987 |
|
Texas Roadhouse |
|
7,727,433 |
| |
221,911 |
|
Zoës Kitchen (a) (b) |
|
4,924,205 |
| |
170,761 |
|
Fiesta Restaurant Group (a) |
|
4,098,264 |
| |
76,725 |
|
Choice Hotels |
|
3,458,763 |
| |
|
|
|
|
38,309,514 |
| |
|
|
> Auto Components 4.0% |
|
|
| |
112,220 |
|
Drew Industries |
|
10,999,804 |
| |
144,723 |
|
Dorman Products (a) |
|
9,247,800 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Auto Componentscontinued |
|
|
| |
361,234 |
|
Gentex |
|
$ |
6,343,269 |
|
|
|
|
|
26,590,873 |
| |
|
|
> Household Durables 2.5% |
|
|
| |
100,993 |
|
Cavco Industries (a) |
|
10,003,357 |
| |
144,249 |
|
iRobot (a) |
|
6,344,071 |
| |
|
|
|
|
16,347,428 |
| |
|
|
> Specialty Retail 1.8% |
|
|
| |
149,402 |
|
Five Below (a) |
|
6,019,406 |
| |
91,175 |
|
Monro Muffler Brake |
|
5,577,175 |
| |
|
|
|
|
11,596,581 |
| |
|
|
> Leisure Products 1.1% |
|
|
| |
154,753 |
|
Brunswick Corp |
|
7,548,851 |
| |
|
|
|
|
|
| |
|
|
> Distributors 1.0% |
|
|
| |
66,907 |
|
Pool |
|
6,324,050 |
| |
|
|
|
|
|
| |
|
|
> Diversified Consumer Services 0.7% |
|
|
| |
132,085 |
|
ServiceMaster (a) |
|
4,448,623 |
| |
Consumer Discretionary: Total |
|
111,165,920 |
| |||
|
|
|
|
|
| |
Financials 13.3% |
|
|
| |||
|
|
> Banks 9.3% |
|
|
| |
92,032 |
|
SVB Financial Group (a) |
|
10,173,217 |
| |
229,768 |
|
MB Financial |
|
8,740,375 |
| |
251,785 |
|
LegacyTexas |
|
7,963,960 |
| |
219,874 |
|
Lakeland Financial |
|
7,787,937 |
| |
388,540 |
|
Associated Banc-Corp |
|
7,611,499 |
| |
283,294 |
|
First Busey |
|
6,402,444 |
| |
170,479 |
|
Sandy Spring Bancorp |
|
5,213,248 |
| |
91,153 |
|
Great Southern Bancorp |
|
3,709,927 |
| |
133,408 |
|
TriCo Bancshares |
|
3,571,332 |
| |
|
|
|
|
61,173,939 |
| |
|
|
> Capital Markets 3.4% |
|
|
| |
45,949 |
|
MarketAxess |
|
7,608,695 |
| |
139,581 |
|
SEI Investments |
|
6,366,289 |
| |
343,378 |
|
Virtu Financial |
|
5,140,369 |
| |
257,323 |
|
OM Asset Management |
|
3,579,363 |
| |
|
|
|
|
22,694,716 |
| |
|
|
> Insurance 0.6% |
|
|
| |
90,030 |
|
Allied World Assurance Company Holdings |
|
3,639,012 |
| |
Financials: Total |
|
87,507,667 |
| |||
|
|
|
|
|
| |
Energy 3.4% |
|
|
| |||
|
|
> Oil, Gas & Consumable Fuels 1.8% |
|
|
| |
169,479 |
|
Carrizo Oil & Gas (a) |
|
6,884,237 |
| |
75,051 |
|
PDC Energy (a) |
|
5,032,920 |
| |
|
|
|
|
11,917,157 |
| |
|
|
> Energy Equipment & Services 1.6% |
|
|
| |
55,707 |
|
Core Labs (Netherlands) |
|
6,257,567 |
| |
310,725 |
|
Franks International (Netherlands) (b) |
|
4,039,425 |
| |
|
|
|
|
10,296,992 |
| |
Energy: Total |
|
22,214,149 |
| |||
|
|
|
|
|
| |
Real Estate 2.2% |
|
|
| |||
|
|
> Real Estate Management & Development 2.2% |
|
|
| |
181,900 |
|
FirstService |
|
8,491,092 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Real Estate Management & Developmentcontinued |
|
|
| |
140,625 |
|
Colliers International Group |
|
$ |
5,916,094 |
|
|
|
|
|
14,407,186 |
| |
|
|
> Equity Real Estate Investment Trusts (REITs) % |
|
|
| |
14,488 |
|
UMH Properties |
|
172,697 |
| |
Total Real Estate: Total |
|
14,579,883 |
| |||
|
|
|
|
|
| |
Consumer Staples 1.0% |
|
|
| |||
|
|
> Household Products 1.0% |
|
|
| |
61,781 |
|
WD-40 |
|
6,946,038 |
| |
Consumer Staples: Total |
|
6,946,038 |
| |||
|
|
|
|
|
| |
Total Equities: 95.9% |
|
630,933,752 |
(c) | |||
|
|
|
|
|
| |
Short-Term Investments 3.7% |
|
|
| |||
24,079,944 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.20%) |
|
24,079,944 |
| |
|
|
|
|
|
| |
Total Short-Term Investments: 3.7% |
|
24,079,944 |
| |||
|
|
|
|
|
| |
Securities Lending Collateral 2.2% |
|
|
| |||
14,138,150 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.30%) (d) |
|
14,138,150 |
| |
|
|
|
|
|
| |
Total Securities Lending Collateral: 2.2% |
|
14,138,150 |
| |||
|
|
|
|
|
| |
Total Investments: 101.8% |
|
669,151,846 |
(f)(g) | |||
|
|
|
|
|
| |
Obligation to Return Collateral for Securities Loaned: (2.2)% |
|
(14,138,150 |
) | |||
|
|
|
|
|
| |
Cash and Other Assets Less Liabilities: 0.4% |
|
2,566,305 |
| |||
|
|
|
|
|
| |
Net Assets: 100.0% |
|
$ |
657,580,001 |
|
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, 2016. The total market value of securities on loan at September 30, 2016 was $13,968,028.
(c) On September 30, 2016, the market value of foreign securities represented 1.56% of total net assets. The Funds foreign portfolio was diversified as follows:
Country |
|
Value |
|
Percentage |
| |
Netherlands |
|
$ |
10,296,992 |
|
1.56 |
|
(d) Investment made with cash collateral received from securities lending activity.
(e) At September 30, 2016, for federal income tax purposes, the cost of investments was approximately $489,410,838 and net unrealized appreciation was $179,741,008 consisting of gross unrealized appreciation of $190,852,860 and gross unrealized depreciation of $11,111,852.
(f) 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, 2016, are as follows:
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
Rubicon Technology |
|
1,354,071 |
|
|
|
1,354,071 |
|
|
|
$ |
|
|
$ |
|
|
At September 30, 2016, the Fund did not hold any investments in affiliated companies.
(g) Securities are valued using policies described in the Notes to Financial Statements in the shareholder report dated June 30, 2016.
Fair Value Measurements
Various inputs are used in determining the value of the Funds 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 managements 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.
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 CWAMs Valuation Committee (the Committee) 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.
The Committee is responsible for applying the Trusts Portfolio Pricing Policy and the CWAM pricing procedures (the Policies), which are approved by and subject to the oversight of 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 CWAM believes that available market quotations are unreliable. The Committee
also reviews the continuing appropriateness of the Policies. In circumstances where a security has been fair valued, the Committee will also review the continuing appropriateness of the current value of the security. 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; circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default; and certain delegations of authority to determine fair values to the Funds investment manager. 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, 2016, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Health Care |
|
$ |
141,201,739 |
|
$ |
|
|
$ |
|
|
$ |
141,201,739 |
|
Information Technology |
|
124,241,089 |
|
|
|
|
|
124,241,089 |
| ||||
Industrials |
|
123,077,267 |
|
|
|
|
|
123,077,267 |
| ||||
Consumer Discretionary |
|
111,165,920 |
|
|
|
|
|
111,165,920 |
| ||||
Financials |
|
87,507,667 |
|
|
|
|
|
87,507,667 |
| ||||
Energy |
|
22,214,149 |
|
|
|
|
|
22,214,149 |
| ||||
Real Estate |
|
14,579,883 |
|
|
|
|
|
14,579,883 |
| ||||
Consumer Staples |
|
6,946,038 |
|
|
|
|
|
6,946,038 |
| ||||
Total Equities |
|
630,933,752 |
|
|
|
|
|
630,933,752 |
| ||||
Total Short-Term Investments |
|
24,079,944 |
|
|
|
|
|
24,079,944 |
| ||||
Total Securities Lending Collateral |
|
14,138,150 |
|
|
|
|
|
14,138,150 |
| ||||
Total Investments |
|
$ |
669,151,846 |
|
$ |
|
|
$ |
|
|
$ |
669,151,846 |
|
There were no transfers of financial assets between levels during the period.
Columbia Acorn International Select
Statement of Investments (Unaudited), September 30, 2016
Number of Shares |
|
|
|
Value |
| |
|
|
|
Equities: 95.9% |
| ||
Europe 43.1% |
|
|
|
|
| |
|
|
> United Kingdom 11.9% |
|
|
| |
242,000 |
|
Halma |
|
$ |
3,290,379 |
|
141,000 |
|
Compass Group |
|
2,732,218 |
| |
136,930 |
|
WH Smith |
|
2,729,669 |
| |
43,800 |
|
Rightmove |
|
2,396,886 |
| |
38,000 |
|
Next |
|
2,352,356 |
| |
|
|
|
|
13,501,508 |
| |
|
|
> Germany 7.6% |
|
|
| |
100,210 |
|
Wirecard (a) |
|
5,206,401 |
| |
33,500 |
|
MTU Aero Engines |
|
3,388,780 |
| |
|
|
|
|
8,595,181 |
| |
|
|
> Switzerland 7.4% |
|
|
| |
9,400 |
|
Partners Group |
|
4,741,122 |
| |
8,540 |
|
Geberit |
|
3,739,491 |
| |
|
|
|
|
8,480,613 |
| |
|
|
> Denmark 4.6% |
|
|
| |
118,955 |
|
Novozymes |
|
5,231,730 |
| |
|
|
|
|
|
| |
|
|
> Sweden 4.1% |
|
|
| |
106,000 |
|
Hexagon |
|
4,628,573 |
| |
|
|
|
|
|
| |
|
|
> Spain 3.1% |
|
|
| |
566,000 |
|
Distribuidora Internacional de Alimentación |
|
3,503,981 |
| |
|
|
|
|
|
| |
|
|
> France 2.5% |
|
|
| |
22,000 |
|
Essilor International |
|
2,837,131 |
| |
|
|
|
|
|
| |
|
|
> Ireland 1.9% |
|
|
| |
158,000 |
|
Ryanair |
|
2,157,381 |
| |
Europe: Total |
|
|
|
48,936,098 |
| |
|
|
|
|
|
| |
Asia 38.0% |
|
|
|
|
| |
|
|
> Japan 22.0% |
|
|
| |
117,500 |
|
Recruit Holdings |
|
4,793,201 |
| |
335,000 |
|
Sony Financial Holdings |
|
4,613,526 |
| |
291,000 |
|
Aeon Mall |
|
4,596,310 |
| |
96,000 |
|
KDDI |
|
2,974,273 |
| |
68,000 |
|
Hoya |
|
2,735,493 |
| |
173,000 |
|
Santen Pharmaceutical |
|
2,554,583 |
| |
34,300 |
|
FamilyMart |
|
2,289,743 |
| |
15,100 |
|
Bandai Namco |
|
462,182 |
| |
|
|
|
|
25,019,311 |
| |
|
|
> China 7.7% |
|
|
| |
14,200 |
|
NetEase.com - ADR |
|
3,419,076 |
| |
217,000 |
|
Vipshop - ADR (b) |
|
3,183,390 |
| |
1,821,000 |
|
China Everbright International |
|
2,183,202 |
| |
|
|
|
|
8,785,668 |
| |
|
|
> India 3.4% |
|
|
| |
463,000 |
|
Zee Entertainment Enterprises |
|
3,811,281 |
| |
|
|
|
|
|
| |
|
|
> Taiwan 2.6% |
|
|
| |
24,000 |
|
Largan Precision |
|
2,925,036 |
| |
|
|
|
|
|
| |
|
|
> Thailand 2.3% |
|
|
| |
228,000 |
|
Airports of Thailand |
|
2,629,510 |
| |
Asia: Total |
|
|
|
43,170,806 |
| |
|
|
|
|
|
| |
Other Countries 14.8% |
|
|
| |||
|
|
> Canada 7.3% |
|
|
| |
29,641 |
|
CCL Industries |
|
5,707,240 |
| |
66,240 |
|
Vermilion Energy (a) |
|
2,565,888 |
| |
|
|
|
|
8,273,128 |
| |
|
|
> South Africa 3.2% |
|
|
| |
21,000 |
|
Naspers |
|
3,634,878 |
| |
|
|
|
|
|
| |
|
|
> United States 2.3% |
|
|
| |
41,840 |
|
Anadarko Petroleum |
|
2,650,982 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> United Statescontinued |
|
|
| |
|
|
> Australia 2.0% |
|
|
| |
193,000 |
|
Amcor |
|
$ |
2,247,929 |
|
Other Countries: Total |
|
16,806,917 |
| |||
|
|
|
| |||
Total Equities: 95.9% |
|
108,913,821 |
(c) | |||
|
|
|
|
|
| |
Short-Term Investments 4.0% |
|
|
| |||
4,521,693 |
|
JPMorgan U.S. Government Money Market Fund, IM Shares (7 day yield of 0.35%) |
|
4,521,693 |
| |
48,155 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.20%) |
|
48,155 |
| |
|
|
|
| |||
Total Short-Term Investments: 4.0% |
|
4,569,848 |
| |||
|
|
|
|
|
| |
Securities Lending Collateral 4.8% |
|
|
| |||
5,486,643 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.30%) (d) |
5,486,643 |
| ||
|
|
|
| |||
Total Securities Lending Collateral: 4.8% |
|
5,486,643 |
| |||
|
|
|
| |||
Total Investments: 104.7% |
|
118,970,312 |
(f) | |||
|
|
|
| |||
Obligation to Return Collateral for Securities Loaned: (4.8)% |
|
(5,486,643 |
) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: 0.1% |
|
143,634 |
| |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
113,627,303 |
|
ADR American Depositary Receipts
> Notes to Statement of Investments
(a) All or a portion of this security was on loan at September 30, 2016. The total market value of securities on loan at September 30, 2016 was $5,215,115.
(b) Non-income producing security.
(c) On September 30, 2016, the Funds total equity investments were denominated in currencies as follows:
Currency |
|
Value |
|
Percentage of |
| |
Japanese Yen |
|
25,019,311 |
|
22.0 |
| |
Euro |
|
17,093,674 |
|
15.1 |
| |
British Pound |
|
13,501,508 |
|
11.9 |
| |
U.S. Dollar |
|
9,253,448 |
|
8.1 |
| |
Swiss Franc |
|
8,480,613 |
|
7.5 |
| |
Canadian Dollar |
|
8,273,128 |
|
7.3 |
| |
Other currencies less than 5% of total net assets |
|
27,292,139 |
|
24.0 |
| |
Total Equities |
|
$ |
108,913,821 |
|
95.9 |
|
(d) Investment made with cash collateral received from securities lending activity.
(e) At September 30, 2016, for federal income tax purposes, the cost of investments was approximately $96,768,653 and net unrealized appreciation was $22,201,660 consisting of gross unrealized appreciation of $27,078,578 and gross unrealized depreciation of $4,876,918.
(f) Securities are valued using policies described in the Notes to Financial Statements in the shareholder report dated June 30, 2016.
Fair Value Measurements
Various inputs are used in determining the value of the Funds 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 managements 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.
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 CWAMs Valuation Committee (the Committee) 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.
The Committee is responsible for applying the Trusts Portfolio Pricing Policy and the CWAM pricing procedures (the Policies), which are approved by and subject to the oversight of 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 CWAM believes that available market quotations are unreliable. The Committee also reviews the continuing appropriateness of the Policies. In circumstances where a security has been fair valued, the Committee will also review the continuing appropriateness of the current value of the security. 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; circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default; and certain delegations of authority to determine fair values to the Funds investment manager. 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, 2016, in valuing the Funds assets:
Investment Type |
|
Quoted |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Europe |
|
$ |
|
|
$ |
48,936,098 |
|
$ |
|
|
$ |
48,936,098 |
|
Asia |
|
6,602,466 |
|
36,568,340 |
|
|
|
43,170,806 |
| ||||
Other Countries |
|
10,924,110 |
|
5,882,807 |
|
|
|
16,806,917 |
| ||||
Total Equities |
|
17,526,576 |
|
91,387,245 |
|
|
|
108,913,821 |
| ||||
Total Short-Term Investments |
|
4,569,848 |
|
|
|
|
|
4,569,848 |
| ||||
Total Securities Lending Collateral |
|
5,486,643 |
|
|
|
|
|
5,486,643 |
| ||||
Total Investments |
|
$ |
27,583,067 |
|
$ |
91,387,245 |
|
$ |
|
|
$ |
118,970,312 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys 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.
There were no transfers of financial assets between levels during the period.
Portfolio Diversification (Unaudited)
At September 30, 2016, the Funds portfolio investments as a percentage of net assets were diversified as follows:
|
|
Value |
|
Percentage of |
| |
> Information Technology |
|
|
|
|
| |
Electronic Equipment, Instruments & Components |
|
$ |
10,843,988 |
|
9.6 |
|
Internet Software & Services |
|
5,815,962 |
|
5.1 |
| |
IT Services |
|
5,206,401 |
|
4.6 |
| |
|
|
21,866,351 |
|
19.3 |
| |
> Consumer Discretionary |
|
|
|
|
| |
Media |
|
7,446,160 |
|
6.6 |
| |
Internet & Catalog Retail |
|
3,183,390 |
|
2.8 |
| |
Hotels, Restaurants & Leisure |
|
2,732,218 |
|
2.4 |
| |
Specialty Retail |
|
2,729,669 |
|
2.4 |
| |
Multiline Retail |
|
2,352,356 |
|
2.0 |
| |
Leisure Products |
|
462,182 |
|
0.4 |
| |
|
|
18,905,975 |
|
16.6 |
| |
> Industrials |
|
|
|
|
| |
Professional Services |
|
4,793,201 |
|
4.2 |
| |
Building Products |
|
3,739,492 |
|
3.3 |
| |
Aerospace & Defense |
|
3,388,780 |
|
3.0 |
| |
Transportation Infrastructure |
|
2,629,510 |
|
2.3 |
| |
Commercial Services & Supplies |
|
2,183,201 |
|
1.9 |
| |
Airlines |
|
2,157,381 |
|
1.9 |
| |
|
|
18,891,565 |
|
16.6 |
| |
> Materials |
|
|
|
|
| |
Containers & Packaging |
|
7,955,168 |
|
7.0 |
| |
Chemicals |
|
5,231,730 |
|
4.6 |
| |
|
|
13,186,898 |
|
11.6 |
| |
> Financials |
|
|
|
|
| |
Capital Markets |
|
4,741,122 |
|
4.1 |
| |
Insurance |
|
4,613,526 |
|
4.1 |
| |
|
|
9,354,648 |
|
8.2 |
| |
|
|
|
|
|
| |
> Health Care |
|
|
|
|
| |
Health Care Equipment & Supplies |
|
5,572,624 |
|
4.9 |
| |
Pharmaceuticals |
|
2,554,583 |
|
2.3 |
| |
|
|
8,127,207 |
|
7.2 |
| |
> Consumer Staples |
|
|
|
|
| |
Food & Staples Retailing |
|
5,793,724 |
|
5.1 |
| |
|
|
5,793,724 |
|
5.1 |
| |
> Energy |
|
|
|
|
| |
Oil, Gas & Consumable Fuels |
|
5,216,870 |
|
4.6 |
| |
|
|
5,216,870 |
|
4.6 |
| |
> Real Estate |
|
|
|
|
| |
Real Estate Management & Development |
|
4,596,310 |
|
4.1 |
| |
|
|
4,596,310 |
|
4.1 |
| |
> Telecommunication Services |
|
|
|
|
| |
Wireless Telecommunication Services |
|
2,974,273 |
|
2.6 |
| |
|
|
2,974,273 |
|
2.6 |
| |
|
|
|
|
|
| |
Total Equities: |
|
108,913,821 |
|
95.9 |
| |
Short-Term Investments: |
|
4,569,848 |
|
4.0 |
| |
Securities Lending Collateral: |
|
5,486,643 |
|
4.8 |
| |
Total Investments: |
|
118,970,312 |
|
104.7 |
| |
|
|
|
|
|
| |
Obligation to Return Collateral for Securities Loaned: |
|
(5,486,643 |
) |
(4.8 |
) | |
Cash and Other Assets Less Liabilities: |
|
143,634 |
|
0.1 |
| |
|
|
|
|
|
| |
Net Assets: |
|
$ |
113,627,303 |
|
100.0 |
|
Columbia Acorn Select
Statement of Investments (Unaudited), September 30, 2016
Number of Shares |
|
|
|
Value |
| |
|
|
|
Equities: 95.1% |
| ||
Consumer Discretionary 24.4% |
|
|
| |||
|
|
> Hotels, Restaurants & Leisure 7.7% |
|
|
| |
171,600 |
|
Papa Johns International |
|
$ |
13,530,660 |
|
79,584 |
|
Vail Resorts |
|
12,485,138 |
| |
|
|
|
|
26,015,798 |
| |
|
|
> Distributors 5.1% |
|
|
| |
480,620 |
|
LKQ (a) |
|
17,042,785 |
| |
|
|
|
|
|
| |
|
|
> Media 4.7% |
|
|
| |
463,000 |
|
Liberty Global Series A (a) |
|
15,825,340 |
| |
|
|
|
|
|
| |
|
|
> Household Durables 3.0% |
|
|
| |
229,000 |
|
iRobot (a) |
|
10,071,420 |
| |
|
|
|
|
|
| |
|
|
> Textiles, Apparel & Luxury Goods 2.0% |
|
|
| |
261,000 |
|
Hanesbrands |
|
6,590,250 |
| |
|
|
|
|
|
| |
|
|
> Internet & Direct Marketing Retail 1.9% |
|
|
| |
300,000 |
|
Liberty TripAdvisor Holdings Class A (a) |
|
6,555,000 |
| |
Consumer Discretionary: Total |
|
82,100,593 |
| |||
|
|
|
|
|
| |
Industrials 23.8% |
|
|
| |||
|
|
> Machinery 10.1% |
|
|
| |
162,000 |
|
Wabtec |
|
13,227,300 |
| |
88,400 |
|
Middleby (a) |
|
10,928,008 |
| |
67,256 |
|
Nordson |
|
6,700,715 |
| |
55,007 |
|
Oshkosh Corporation |
|
3,080,392 |
| |
|
|
|
|
33,936,415 |
| |
|
|
> Road & Rail 7.1% |
|
|
| |
37,000 |
|
Amerco |
|
11,996,510 |
| |
145,000 |
|
JB Hunt Transport Services |
|
11,765,300 |
| |
|
|
|
|
23,761,810 |
| |
|
|
> Electrical Equipment 3.6% |
|
|
| |
335,530 |
|
Generac (a) |
|
12,179,739 |
| |
|
|
|
|
|
| |
|
|
> Professional Services 3.0% |
|
|
| |
270,395 |
|
Robert Half International |
|
10,237,155 |
| |
Industrials: Total |
|
80,115,119 |
| |||
|
|
|
|
|
| |
Financials 13.0% |
|
|
| |||
|
|
> Banks 7.8% |
|
|
| |
152,600 |
|
SVB Financial Group (a) |
|
16,868,404 |
| |
79,000 |
|
Signature Bank (a) |
|
9,357,550 |
| |
|
|
|
|
26,225,954 |
| |
|
|
> Capital Markets 5.2% |
|
|
| |
263,000 |
|
Lazard |
|
9,562,680 |
| |
198,237 |
|
Eaton Vance |
|
7,741,155 |
| |
|
|
|
|
17,303,835 |
| |
Financials: Total |
|
43,529,789 |
| |||
|
|
|
|
|
| |
Health Care 12.8% |
|
|
| |||
|
|
> Health Care Equipment & Supplies 4.9% |
|
|
| |
107,177 |
|
Align Technology (a) |
|
10,047,844 |
| |
107,000 |
|
LivaNova (a) |
|
6,431,770 |
| |
|
|
|
|
16,479,614 |
| |
|
|
> Health Care Providers & Services 4.3% |
|
|
| |
357,000 |
|
HealthSouth |
|
14,483,490 |
| |
|
|
|
|
|
| |
|
|
> Life Sciences Tools & Services 3.0% |
|
|
| |
356,603 |
|
VWR (a) |
|
10,113,261 |
| |
|
|
|
|
|
| |
|
|
> Biotechnology 0.6% |
|
|
| |
26,186 |
|
Ultragenyx Pharmaceutical (a) |
|
1,857,635 |
| |
Health Care: Total |
|
42,934,000 |
| |||
Number of Shares |
|
|
|
Value |
| |
Real Estate 10.1% |
|
|
| |||
|
|
> Equity Real Estate Investment Trusts (REITs) 7.0% |
|
|
| |
273,566 |
|
EdR |
|
$ |
11,801,637 |
|
125,161 |
|
Crown Castle International |
|
11,791,418 |
| |
|
|
|
|
23,593,055 |
| |
|
|
> Real Estate Management & Development 3.1% |
|
|
| |
92,300 |
|
Jones Lang LaSalle |
|
10,502,817 |
| |
Total Real Estate: Total |
|
34,095,872 |
| |||
|
|
|
|
|
| |
Information Technology 7.7% |
|
|
| |||
|
|
> Software 5.0% |
|
|
| |
113,158 |
|
Ansys (a) |
|
10,479,562 |
| |
31,057 |
|
Ultimate Software (a) |
|
6,347,740 |
| |
|
|
|
|
16,827,302 |
| |
|
|
> Internet Software & Services 2.7% |
|
|
| |
124,000 |
|
SPS Commerce (a) |
|
9,102,840 |
| |
|
|
Information Technology: Total |
|
25,930,142 |
| |
|
|
|
|
|
| |
Materials 3.3% |
|
|
| |||
|
|
> Chemicals 3.3% |
|
|
| |
388,681 |
|
Axalta Coating Systems (a) |
|
10,988,012 |
| |
Materials: Total |
|
10,988,012 |
| |||
|
|
|
| |||
Total Equities: 95.1% |
|
319,693,527 |
| |||
|
|
|
|
|
| |
Short-Term Investments 4.0% |
|
|
| |||
13,347,906 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.20%) |
|
13,347,906 |
| |
|
|
|
|
|
| |
Total Short-Term Investments: 4.0% |
|
13,347,906 |
| |||
|
|
|
| |||
Total Investments: 99.1% |
|
333,041,433 |
(c) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: 0.9% |
|
3,177,812 |
| |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
336,219,245 |
|
> Notes to Statement of Investments
(a) Non-income producing security.
(b) At September 30, 2016, for federal income tax purposes, the cost of investments was approximately $287,270,859 and net unrealized appreciation was $45,770,574 consisting of gross unrealized appreciation of $53,296,143 and gross unrealized depreciation of $7,525,569.
(c) Securities are valued using policies described in the Notes to Financial Statements in the shareholder report dated June 30, 2016.
Fair Value Measurements
Various inputs are used in determining the value of the Funds 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 managements 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.
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 CWAMs Valuation Committee (the Committee) 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.
The Committee is responsible for applying the Trusts Portfolio Pricing Policy and the CWAM pricing procedures (the Policies), which are approved by and subject to the oversight of 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 CWAM believes that available market quotations are unreliable. The Committee also reviews the continuing appropriateness of the Policies. In circumstances where a security has been fair valued, the Committee will also review the continuing appropriateness of the current value of the security. 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; circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default; and certain delegations of authority to determine fair values to the Funds investment manager. 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, 2016, in valuing the Funds assets:
Investment Type |
|
Quoted |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Consumer Discretionary |
|
$ |
82,100,593 |
|
$ |
|
|
$ |
|
|
$ |
82,100,593 |
|
Industrials |
|
80,115,119 |
|
|
|
|
|
80,115,119 |
| ||||
Financials |
|
43,529,789 |
|
|
|
|
|
43,529,789 |
| ||||
Health Care |
|
42,934,000 |
|
|
|
|
|
42,934,000 |
| ||||
Real Estate |
|
34,095,872 |
|
|
|
|
|
34,095,872 |
| ||||
Information Technology |
|
25,930,142 |
|
|
|
|
|
25,930,142 |
| ||||
Materials |
|
10,988,012 |
|
|
|
|
|
10,988,012 |
| ||||
Total Equities |
|
319,693,527 |
|
|
|
|
|
319,693,527 |
| ||||
Total Short-Term Investments |
|
13,347,906 |
|
|
|
|
|
13,347,906 |
| ||||
Total Investments |
|
$ |
333,041,433 |
|
$ |
|
|
$ |
|
|
$ |
333,041,433 |
|
There were no transfers of financial assets between levels during the period.
The following table reconciles asset balances for the period ending September 30, 2016, in which significant observable and/or unobservable inputs (Level 3) were used in determining value:
Investments in Securities |
|
Balance as |
|
Realized Gain |
|
Change in |
|
Purchases |
|
Sales |
|
Transfers |
|
Transfers |
|
Balance as |
| ||||||||
Equities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Food Products |
|
$ |
8,851,514 |
|
$ |
(16,166,667 |
) |
$ |
11,148,486 |
|
$ |
|
|
$ |
(3,833,333 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
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 Fund does not hold any significant investments (greater than one percent of net assets) categorized as Level 3.
Certain securities classified as Level 3 are valued by the Committee 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 estimated earnings of the company and the position of the security within the companys capital structure. The Committee also may use some observable inputs, which may include, but are not limited to, trades of similar securities and market multiples derived from a set of comparable companies. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement.
Columbia Thermostat Fund
Statement of Investments (Unaudited), September 30, 2016
Number of Shares |
|
|
|
Value |
| ||
|
|
> Affiliated Bond Funds 79.7% |
|
|
| ||
$ |
36,676,069 |
|
Columbia Short Term Bond Fund, Class I Shares (a) |
|
$ |
367,127,446 |
|
33,206,386 |
|
Columbia U.S. Government Mortgage Fund, Class I Shares (a) |
|
183,631,316 |
| ||
19,574,958 |
|
Columbia Total Return Bond Fund, Class I Shares (a) |
|
183,613,105 |
| ||
9,375,416 |
|
Columbia Income Opportunities Fund, Class I Shares (a) |
|
92,347,850 |
| ||
7,976,293 |
|
Columbia U.S. Treasury Index Fund, Class I Shares (a) |
|
91,567,841 |
| ||
Total Affiliated Bond Funds: (Cost: $902,053,083) |
|
918,287,558 |
| ||||
|
|
|
|
|
| ||
|
|
> Affiliated Stock Funds 19.9% |
|
|
| ||
2,043,005 |
|
Columbia Contrarian Core Fund, Class I Shares (a) |
|
45,865,462 |
| ||
2,430,821 |
|
Columbia Dividend Income Fund, Class I Shares (a) |
|
45,699,442 |
| ||
1,096,676 |
|
Columbia Acorn International, Class I Shares (a) |
|
45,621,742 |
| ||
1,231,089 |
|
Columbia Acorn Fund, Class I Shares (a) (b) |
|
22,885,944 |
| ||
1,505,083 |
|
Columbia Acorn Select, Class I Shares (a) (b) |
|
22,877,266 |
| ||
1,039,175 |
|
Columbia Large Cap Enhanced Core Fund, Class I Shares (a) |
|
22,872,234 |
| ||
1,348,041 |
|
Columbia Select Large Cap Growth Fund, Class I Shares (a) (b) |
|
22,768,406 |
| ||
Total Affiliated Stock Funds: (Cost: $192,359,653) |
|
228,590,496 |
| ||||
|
|
|
|
|
| ||
|
|
> Short-Term Investments 0.4% |
|
|
| ||
4,891,165 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.20%) |
|
4,891,165 |
| ||
|
|
|
| ||||
Total Short-Term Investments: (Cost: $4,891,165) |
|
4,891,165 |
| ||||
|
|
|
| ||||
Total Investments: 100.0% (Cost: $1,099,303,901) (c) |
|
1,151,769,219 |
(d) | ||||
|
|
|
| ||||
Cash and Other Assets Less Liabilities: % |
|
(235,860 |
) | ||||
|
|
|
| ||||
Net Assets: 100.0% |
|
$ |
1,151,533,359 |
| |||
> 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, 2016, are as follows:
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
Columbia Short Term Bond Fund, Class I Shares |
|
33,379,127 |
|
16,455,264 |
|
13,158,322 |
|
36,676,069 |
|
$ |
367,127,446 |
|
$ |
2,498,961 |
|
Columbia U.S. Government Mortgage Fund, Class I Shares |
|
30,509,848 |
|
15,044,146 |
|
12,347,608 |
|
33,206,386 |
|
183,631,316 |
|
3,124,068 |
| ||
Columbia Total Return Bond Fund, Class I Shares |
|
18,493,046 |
|
8,552,385 |
|
7,470,473 |
|
19,574,958 |
|
183,613,105 |
|
3,583,585 |
| ||
Columbia Income Opportunities Fund, Class I Shares |
|
17,570,413 |
|
6,148,475 |
|
14,343,472 |
|
9,375,416 |
|
92,347,850 |
|
4,597,044 |
| ||
Columbia U.S. Treasury Index Fund, Class I Shares |
|
|
|
9,181,126 |
|
1,204,833 |
|
7,976,293 |
|
91,567,841 |
|
515,491 |
| ||
Columbia Contrarian Core Fund, Class I Shares |
|
2,628,205 |
|
2,960,759 |
|
3,545,959 |
|
2,043,005 |
|
45,865,462 |
|
|
| ||
Columbia Dividend Income Fund, Class I Shares |
|
3,143,436 |
|
3,247,876 |
|
3,960,491 |
|
2,430,821 |
|
45,699,442 |
|
857,027 |
| ||
Columbia Acorn International, Class I Shares |
|
1,389,031 |
|
1,684,270 |
|
1,976,625 |
|
1,096,676 |
|
45,621,742 |
|
|
| ||
Columbia Acorn Fund, Class I Shares |
|
1,397,374 |
|
2,032,331 |
|
2,198,616 |
|
1,231,089 |
|
22,885,944 |
|
|
| ||
Columbia Acorn Select, Class I Shares |
|
1,752,426 |
|
2,454,334 |
|
2,701,677 |
|
1,505,083 |
|
22,877,266 |
|
|
| ||
Columbia Large Cap Enhanced Core Fund, Class I Shares |
|
1,322,181 |
|
1,536,483 |
|
1,819,489 |
|
1,039,175 |
|
22,872,234 |
|
69,064 |
| ||
Columbia Select Large Cap Growth Fund, Class I Shares |
|
1,625,974 |
|
2,451,477 |
|
2,729,410 |
|
1,348,041 |
|
22,768,406 |
|
|
| ||
Total of Affiliated Transactions |
|
113,211,061 |
|
71,748,926 |
|
67,456,975 |
|
117,503,012 |
|
$ |
1,146,878,054 |
|
$ |
15,245,240 |
|
The aggregate cost and value of these companies at September 30, 2016, was $1,094,412,736 and $1,146,878,054, respectively. Investments in affiliated companies represented 99.60% of the Funds total net assets at September 30, 2016.
(b) Non-income producing security.
(c) At September 30, 2016, for federal income tax purposes, the cost of investments was approximately $1,099,303,901 and net unrealized appreciation was $52,465,318 consisting of gross unrealized appreciation of $52,465,318 and gross unrealized depreciation of $0.
(d) Securities are valued using policies described in the Notes to Financial Statements in the shareholder report dated June 30, 2016.
Fair Value Measurements
Various inputs are used in determining the value of the Funds 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 managements 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.
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.
CWAMs Valuation Committee (the Committee) is responsible for applying the Trusts Portfolio Pricing Policy and the CWAM pricing procedures (the Policies), which are approved by and subject to the oversight of 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 CWAM believes that available market quotations are unreliable. The Committee also reviews the continuing appropriateness of the Policies. In circumstances where a security has been fair valued, the
Committee will also review the continuing appropriateness of the current value of the security. 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; circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default; and certain delegations of authority to determine fair values to the Funds investment manager. 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, 2016, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Total Affiliated Bond Funds |
|
$ |
918,287,558 |
|
$ |
|
|
$ |
|
|
$ |
918,287,558 |
|
Total Affiliated Stock Funds |
|
228,590,496 |
|
|
|
|
|
228,590,496 |
| ||||
Total Short-Term Investments |
|
4,891,165 |
|
|
|
|
|
4,891,165 |
| ||||
Total Investments |
|
$ |
1,151,769,219 |
|
$ |
|
|
$ |
|
|
$ |
1,151,769,219 |
|
There were no transfers of financial assets between levels during the period.
Columbia Acorn Emerging Markets Fund
Statement of Investments (Unaudited), September 30, 2016
Number of Shares |
|
|
|
Value |
| |
|
|
|
Equities: 95.8% |
| ||
Asia 70.8% |
|
|
|
|
| |
|
|
> India 13.4% |
|
|
| |
936,472 |
|
Zee Entertainment Enterprises |
|
$ |
7,708,765 |
|
771,523 |
|
TVS Motor |
|
4,251,803 |
| |
246,667 |
|
Amara Raja |
|
3,751,429 |
| |
497,759 |
|
GRUH Finance |
|
2,454,715 |
| |
177,038 |
|
United Breweries |
|
2,407,603 |
| |
|
|
|
|
20,574,315 |
| |
|
|
> Taiwan 12.0% |
|
|
| |
343,581 |
|
PChome Online |
|
4,066,958 |
| |
210,000 |
|
Silergy |
|
3,114,834 |
| |
25,000 |
|
Largan Precision |
|
3,046,912 |
| |
221,988 |
|
Advantech |
|
1,910,696 |
| |
986,000 |
|
Vanguard International Semiconductor |
|
1,852,450 |
| |
78,000 |
|
St. Shine Optical |
|
1,821,995 |
| |
167,000 |
|
Addcn Technology |
|
1,290,055 |
| |
122,000 |
|
Ginko International |
|
1,214,959 |
| |
|
|
|
|
18,318,859 |
| |
|
|
> Korea 11.7% |
|
|
| |
192,419 |
|
ModeTour Network |
|
5,046,472 |
| |
114,626 |
|
Koh Young Technology |
|
4,773,171 |
| |
86,671 |
|
Korea Investment Holdings |
|
3,229,797 |
| |
32,351 |
|
KEPCO Plant Service & Engineering |
|
1,703,726 |
| |
90,103 |
|
Sam Yung Trading |
|
1,637,188 |
| |
1,915 |
|
Orion Corp |
|
1,443,225 |
| |
|
|
|
|
17,833,579 |
| |
|
|
> China 9.5% |
|
|
| |
245,083 |
|
Vipshop - ADR (a) |
|
3,595,368 |
| |
11,060,000 |
|
NewOcean Energy |
|
2,980,585 |
| |
1,869,000 |
|
China Everbright International |
|
2,240,749 |
| |
59,912 |
|
51job - ADR (a) |
|
1,999,862 |
| |
836,000 |
|
TravelSky Technology |
|
1,995,371 |
| |
59,444 |
|
BitAuto - ADR (a) (b) |
|
1,728,631 |
| |
|
|
|
|
14,540,566 |
| |
|
|
> Indonesia 9.2% |
|
|
| |
25,000,000 |
|
Media Nusantara Citra |
|
3,883,852 |
| |
10,500,000 |
|
Link Net |
|
3,507,777 |
| |
6,500,000 |
|
Tower Bersama Infrastructure |
|
3,041,855 |
| |
1,500,000 |
|
Matahari Department Store |
|
2,129,899 |
| |
7,000,000 |
|
Surya Citra Media |
|
1,506,589 |
| |
|
|
|
|
14,069,972 |
| |
|
|
> Thailand 3.4% |
|
|
| |
4,476,100 |
|
Samui Airport Property Fund |
|
3,552,461 |
| |
5,691,000 |
|
Home Product Center |
|
1,647,148 |
| |
|
|
|
|
5,199,609 |
| |
|
|
> Hong Kong 3.3% |
|
|
| |
1,742,000 |
|
Vitasoy International |
|
3,528,171 |
| |
1,450,000 |
|
Value Partners |
|
1,502,260 |
| |
|
|
|
|
5,030,431 |
| |
|
|
> Philippines 3.1% |
|
|
| |
23,000,000 |
|
Melco Crown (Philippines) Resorts (a) |
|
1,864,405 |
| |
18,000,000 |
|
RFM Corporation |
|
1,558,924 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Philippinescontinued |
|
|
| |
1,560,000 |
|
Puregold Price Club |
|
$ |
1,367,151 |
|
|
|
|
|
4,790,480 |
| |
|
|
> Singapore 3.0% |
|
|
| |
5,892,800 |
|
China Everbright Water |
|
2,597,996 |
| |
4,366,000 |
|
SIIC Environment (a) |
|
1,984,982 |
| |
|
|
|
|
4,582,978 |
| |
|
|
> Cambodia 2.2% |
|
|
| |
5,163,000 |
|
Nagacorp |
|
3,407,858 |
| |
Asia: Total |
|
|
|
108,348,647 |
| |
|
|
|
|
|
| |
Other Countries 11.7% |
|
|
| |||
|
|
> South Africa 5.9% |
|
|
| |
342,136 |
|
Famous Brands |
|
4,113,860 |
| |
882,911 |
|
Rand Merchant Insurance |
|
2,663,692 |
| |
450,885 |
|
Coronation Fund Managers |
|
2,307,900 |
| |
|
|
|
|
9,085,452 |
| |
|
|
> Canada 2.2% |
|
|
| |
259,201 |
|
Parex Resources (a) |
|
3,289,529 |
| |
|
|
|
|
|
| |
|
|
> United States 2.0% |
|
|
| |
107,457 |
|
Bladex |
|
3,028,138 |
| |
|
|
|
|
|
| |
|
|
> Guatemala 1.6% |
|
|
| |
189,900 |
|
Tahoe Resources |
|
2,434,634 |
| |
Other Countries: Total |
|
17,837,753 |
| |||
|
|
|
|
|
| |
Europe 7.2% |
|
|
| |||
|
|
> Finland 2.8% |
|
|
| |
202,395 |
|
Tikkurila |
|
4,353,950 |
| |
|
|
|
|
|
| |
|
|
> Spain 1.7% |
|
|
| |
376,017 |
|
Prosegur |
|
2,627,318 |
| |
|
|
|
|
|
| |
|
|
> Poland 1.4% |
|
|
| |
8,800 |
|
Wawel |
|
2,071,184 |
| |
|
|
|
|
|
| |
|
|
> Sweden 1.3% |
|
|
| |
37,336 |
|
Millicom |
|
1,936,695 |
| |
Europe: Total |
|
10,989,147 |
| |||
|
|
|
|
|
| |
Latin America 6.1% |
|
|
| |||
|
|
> Mexico 6.1% |
|
|
| |
545,000 |
|
Grupo Aeroportuario Centro Norte |
|
3,212,703 |
| |
2,093,300 |
|
Qualitas |
|
3,159,963 |
| |
3,134,000 |
|
Hoteles City Express (a) |
|
2,941,698 |
| |
|
|
|
|
9,314,364 |
| |
Latin America: Total |
|
9,314,364 |
| |||
|
|
|
|
|
| |
Total Equities: 95.8% |
|
146,489,911 |
(c) | |||
|
|
|
|
|
| |
Short-Term Investments 3.6% |
|
|
| |||
5,554,789 |
|
JPMorgan U.S. Government Money Market Fund, IM Shares (7 day yield of 0.35%) |
|
5,554,789 |
| |
|
|
|
| |||
Total Short-Term Investments: 3.6% |
|
5,554,789 |
| |||
|
|
|
|
|
| |
Securities Lending Collateral 0.8% |
|
|
| |||
1,280,300 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.30%) (d) |
1,280,300 |
| ||
|
|
|
| |||
Total Securities Lending Collateral: 0.8% |
|
1,280,300 |
| |||
|
|
|
| |||
Total Investments: 100.2% |
|
153,325,000 |
(f) | |||
|
|
|
| |||
Obligation to Return Collateral for |
|
(1,280,300 |
) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: 0.6% |
|
933,218 |
| |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
152,977,918 |
|
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, 2016. The total market value of securities on loan at September 30, 2016 was $1,201,004.
(c) On September 30, 2016, the Funds total equity investments were denominated in currencies as follows:
Currency |
|
Value |
|
Percentage of |
| |
Indian Rupee |
|
$ |
20,574,315 |
|
13.4 |
|
Taiwan Dollar |
|
18,318,859 |
|
12.0 |
| |
Korean Won |
|
17,833,579 |
|
11.7 |
| |
U.S. Dollar |
|
17,187,089 |
|
11.2 |
| |
Hong Kong Dollar |
|
15,654,993 |
|
10.2 |
| |
Indonesian Rupiah |
|
14,069,972 |
|
9.2 |
| |
Mexican Peso |
|
9,314,364 |
|
6.1 |
| |
South African Rand |
|
9,085,452 |
|
5.9 |
| |
Other currencies less than 5% of total net assets |
|
31,286,377 |
|
20.5 |
| |
Total Equities |
|
$ |
153,325,000 |
|
100.2 |
|
(d) Investment made with cash collateral received from securities lending activity.
(e) At September 30, 2016, for federal income tax purposes, the cost of investments was approximately $148,043,366 and net unrealized appreciation was $5,281,634 consisting of gross unrealized appreciation of $24,278,448 and gross unrealized depreciation of $18,996,814.
(f) Securities are valued using policies described in the Notes to Financial Statements in the shareholder report dated June 30, 2016.
Fair Value Measurements
Various inputs are used in determining the value of the Funds 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 managements 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.
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 CWAMs Valuation Committee (the Committee) 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.
The Committee is responsible for applying the Trusts Portfolio Pricing Policy and the CWAM pricing procedures (the Policies), which are approved by and subject to the oversight of 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 CWAM believes that available market quotations are unreliable. The Committee also reviews the continuing appropriateness of the Policies. In circumstances where a security has been fair valued, the
Committee will also review the continuing appropriateness of the current value of the security. 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; circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default; and certain delegations of authority to determine fair values to the Funds investment manager. 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, 2016, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Asia |
|
$ |
7,323,861 |
|
$ |
101,024,786 |
|
$ |
|
|
$ |
108,348,647 |
|
Other Countries |
|
8,752,301 |
|
9,085,452 |
|
|
|
17,837,753 |
| ||||
Europe |
|
|
|
10,989,147 |
|
|
|
10,989,147 |
| ||||
Latin America |
|
9,314,364 |
|
|
|
|
|
9,314,364 |
| ||||
Total Equities |
|
25,390,526 |
|
121,099,385 |
|
|
|
146,489,911 |
| ||||
Total Short-Term Investments |
|
5,554,789 |
|
|
|
|
|
5,554,789 |
| ||||
Total Securities Lending Collateral |
|
1,280,300 |
|
|
|
|
|
1,280,300 |
| ||||
Total Investments |
|
$ |
32,225,615 |
|
$ |
121,099,385 |
|
$ |
|
|
$ |
153,325,000 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys 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.
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, 2016, in which significant observable and/or unobservable inputs (Level 3) were used in determining value:
Investments in Securities |
|
Balance as |
|
Realized |
|
Change in |
|
Purchases |
|
Sales |
|
Transfers |
|
Transfers |
|
Balance as |
| ||||||||
Equities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Asia |
|
$ |
4,620,853 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
(4,620,853 |
) |
$ |
|
|
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 Fund does not hold any significant investments (greater than one percent of net assets) categorized as Level 3.
Financial assets were transferred from Level 3 to Level 2 as trading resumed during the period.
The following table shows transfers between Level 2 and Level 3 of the fair value hierarchy:
Transfers In |
|
Transfers Out |
| ||||||
Level 2 |
|
Level 3 |
|
Level 2 |
|
Level 3 |
| ||
$ |
4,620,853 |
|
|
|
|
|
$ |
4,620,853 |
|
Transfers into and/or out of Level 3 are determined based on the fair value at the beginning of the period for security positions.
Certain securities classified as Level 3 are valued by the Committee 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 estimated earnings of the company and the position of the security within the companys capital structure. The Committee also may use some observable inputs, which may include, but are not limited to, trades of similar securities or indices and market multiples derived from a set of comparable companies. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement.
Portfolio Diversification (Unaudited)
At September 30, 2016, the Funds portfolio investments as a percentage of net assets were diversified as follows:
|
|
Value |
|
Percentage |
| |
> Consumer Discretionary |
|
|
|
|
| |
Hotels, Restaurants & Leisure |
|
$ |
17,374,293 |
|
11.4 |
|
Media |
|
13,099,206 |
|
8.6 |
| |
Automobiles |
|
4,251,803 |
|
2.8 |
| |
Internet & Catalog Retail |
|
3,595,368 |
|
2.4 |
| |
Multiline Retail |
|
2,129,899 |
|
1.4 |
| |
Specialty Retail |
|
1,647,148 |
|
1.1 |
| |
|
|
42,097,717 |
|
27.7 |
| |
> Information Technology |
|
|
|
|
| |
Semiconductors & Semiconductor Equipment |
|
9,740,455 |
|
6.4 |
| |
Internet Software & Services |
|
7,085,645 |
|
4.6 |
| |
Electronic Equipment, Instruments & Components |
|
3,046,912 |
|
2.0 |
| |
IT Services |
|
1,995,371 |
|
1.3 |
| |
Technology Hardware, Storage & Peripherals |
|
1,910,696 |
|
1.2 |
| |
|
|
23,779,079 |
|
15.5 |
| |
> Financials |
|
|
|
|
| |
Capital Markets |
|
7,039,958 |
|
4.6 |
| |
Insurance |
|
5,823,655 |
|
3.8 |
| |
Real Estate Investment Trusts (REITs) |
|
3,552,460 |
|
2.3 |
| |
Banks |
|
3,028,138 |
|
2.0 |
| |
Thrifts & Mortgage Finance |
|
2,454,715 |
|
1.6 |
| |
|
|
21,898,926 |
|
14.3 |
| |
> Industrials |
|
|
|
|
| |
Commercial Services & Supplies |
|
6,571,793 |
|
4.3 |
| |
Electrical Equipment |
|
3,751,429 |
|
2.4 |
| |
Transportation Infrastructure |
|
3,212,703 |
|
2.1 |
| |
Professional Services |
|
1,999,863 |
|
1.3 |
| |
Trading Companies & Distributors |
|
1,637,189 |
|
1.1 |
| |
|
|
17,172,977 |
|
11.2 |
| |
> Consumer Staples |
|
|
|
|
| |
Food Products |
|
8,601,503 |
|
5.6 |
| |
Beverages |
|
2,407,603 |
|
1.6 |
| |
Food & Staples Retailing |
|
1,367,151 |
|
0.9 |
| |
|
|
12,376,257 |
|
8.1 |
| |
> Telecommunication Services |
|
|
|
|
| |
Wireless Telecommunication Services |
|
4,978,550 |
|
3.2 |
| |
Diversified Telecommunication Services |
|
3,507,777 |
|
2.3 |
| |
|
|
8,486,327 |
|
5.5 |
| |
> Materials |
|
|
|
|
| |
Chemicals |
|
4,353,950 |
|
2.8 |
| |
Metals & Mining |
|
2,434,634 |
|
1.6 |
| |
|
|
6,788,584 |
|
4.4 |
| |
> Energy |
|
|
|
|
| |
Oil, Gas & Consumable Fuels |
|
6,270,113 |
|
4.1 |
| |
|
|
6,270,113 |
|
4.1 |
| |
> Utilities |
|
|
|
|
| |
Water Utilities |
|
4,582,978 |
|
3.0 |
| |
|
|
4,582,978 |
|
3.0 |
| |
> Health Care |
|
|
|
|
| |
Health Care Equipment & Supplies |
|
3,036,953 |
|
2.0 |
| |
|
|
3,036,953 |
|
2.0 |
| |
|
|
|
|
|
| |
Total Equities: |
|
146,489,911 |
|
95.8 |
| |
Short-Term Investments: |
|
5,554,789 |
|
3.6 |
| |
Securities Lending Collateral: |
|
1,280,300 |
|
0.8 |
| |
Total Investments: |
|
153,325,000 |
|
100.2 |
| |
|
|
|
|
|
| |
Obligation to Return Collateral for Securities Loaned: |
|
(1,280,300 |
) |
(0.8 |
) | |
Cash and Other Assets Less Liabilities: |
|
933,218 |
|
0.6 |
| |
|
|
|
|
|
| |
Net Assets: |
|
$ |
152,977,918 |
|
100.0 |
|
Columbia Acorn European Fund
Statement of Investments (Unaudited), September 30, 2016
Number of Shares |
|
|
|
Value |
| |
|
|
|
Equities: 98.3% |
| ||
Europe 96.9% |
|
|
| |||
|
|
> United Kingdom 27.0% |
|
|
| |
126,231 |
|
Halma |
|
$ |
1,716,313 |
|
26,655 |
|
Rightmove |
|
1,458,653 |
| |
117,474 |
|
Abcam |
|
1,279,016 |
| |
433,932 |
|
Rentokil Initial |
|
1,250,306 |
| |
94,669 |
|
Shaftesbury |
|
1,190,240 |
| |
221,795 |
|
Dominos Pizza UK & Ireland |
|
1,073,736 |
| |
90,309 |
|
Big Yellow |
|
913,021 |
| |
440,355 |
|
Connect Group |
|
863,283 |
| |
39,357 |
|
WH Smith |
|
784,573 |
| |
1,029,940 |
|
Assura |
|
778,279 |
| |
14,411 |
|
Croda International |
|
650,770 |
| |
139,928 |
|
Halfords |
|
635,875 |
| |
204,000 |
|
Hastings Group Holdings |
|
611,062 |
| |
116,626 |
|
DS Smith |
|
580,926 |
| |
168,528 |
|
Ocado (a) (b) |
|
577,767 |
| |
123,321 |
|
Regus |
|
417,029 |
| |
5,359 |
|
Spirax Sarco |
|
312,226 |
| |
84,385 |
|
Polypipe |
|
307,127 |
| |
|
|
|
|
15,400,202 |
| |
|
|
> Germany 14.6% |
|
|
| |
39,781 |
|
Wirecard (b) |
|
2,066,818 |
| |
25,147 |
|
Aurelius |
|
1,587,021 |
| |
11,860 |
|
MTU Aero Engines |
|
1,199,729 |
| |
22,387 |
|
NORMA Group |
|
1,151,798 |
| |
7,724 |
|
Fielmann |
|
629,498 |
| |
18,000 |
|
Deutsche Beteiligungs |
|
597,914 |
| |
1,158 |
|
Rational |
|
580,174 |
| |
12,323 |
|
Ströer (b) |
|
535,449 |
| |
|
|
|
|
8,348,401 |
| |
|
|
> Sweden 13.2% |
|
|
| |
189,040 |
|
Unibet |
|
1,756,247 |
| |
99,554 |
|
Recipharm (b) |
|
1,624,651 |
| |
82,952 |
|
Trelleborg |
|
1,624,462 |
| |
59,867 |
|
Sweco |
|
1,233,796 |
| |
36,941 |
|
Mekonomen (b) |
|
719,115 |
| |
77,000 |
|
Byggmax |
|
581,171 |
| |
|
|
|
|
7,539,442 |
| |
|
|
> Spain 7.1% |
|
|
| |
233,155 |
|
Distribuidora Internacional de Alimentación |
|
1,443,411 |
| |
193,497 |
|
Prosegur |
|
1,352,009 |
| |
11,867 |
|
Viscofan |
|
642,011 |
| |
19,771 |
|
Bolsas y Mercados Españoles |
|
587,336 |
| |
|
|
|
|
4,024,767 |
| |
|
|
> Finland 6.3% |
|
|
| |
57,748 |
|
Tikkurila |
|
1,242,283 |
| |
68,560 |
|
Munksjo (c) |
|
929,046 |
| |
56,522 |
|
Munksjo |
|
756,848 |
| |
17,961 |
|
Konecranes |
|
636,366 |
| |
|
|
|
|
3,564,543 |
| |
|
|
> France 5.4% |
|
|
| |
36,969 |
|
AKKA Technologies |
|
1,374,613 |
| |
39,663 |
|
Elior Group |
|
908,039 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Francecontinued |
|
|
| |
1,710 |
|
Eurofins Scientific |
|
$ |
776,727 |
|
|
|
|
|
3,059,379 |
| |
|
|
> Denmark 5.3% |
|
|
| |
30,589 |
|
SimCorp |
|
1,776,847 |
| |
61,898 |
|
William Demant Holding (a) |
|
1,263,568 |
| |
|
|
|
|
3,040,415 |
| |
|
|
> Netherlands 5.2% |
|
|
| |
36,701 |
|
Aalberts Industries |
|
1,251,271 |
| |
13,475 |
|
Gemalto |
|
864,028 |
| |
48,426 |
|
Brunel |
|
847,269 |
| |
|
|
|
|
2,962,568 |
| |
|
|
> Italy 4.5% |
|
|
| |
20,157 |
|
Industria Macchine Automatiche |
|
1,338,222 |
| |
10,622 |
|
Brembo |
|
633,601 |
| |
222,177 |
|
Hera |
|
598,499 |
| |
|
|
|
|
2,570,322 |
| |
|
|
> Switzerland 3.8% |
|
|
| |
3,077 |
|
Partners Group |
|
1,551,961 |
| |
1,583 |
|
Inficon |
|
606,559 |
| |
|
|
|
|
2,158,520 |
| |
|
|
> Norway 2.1% |
|
|
| |
118,307 |
|
Atea |
|
1,198,667 |
| |
|
|
|
|
|
| |
|
|
> Poland 1.2% |
|
|
| |
2,919 |
|
Wawel |
|
687,021 |
| |
|
|
|
|
|
| |
|
|
> Belgium 1.2% |
|
|
| |
9,217 |
|
Melexis |
|
661,511 |
| |
Europe: Total |
|
55,215,758 |
| |||
|
|
|
|
|
| |
Other Countries 1.4% |
|
|
| |||
|
|
> United States 1.4% |
|
|
| |
13,451 |
|
LivaNova (a) |
|
808,540 |
| |
Other Countries: Total |
|
808,540 |
| |||
|
|
|
| |||
Total Equities: 98.3% |
|
56,024,298 |
(d) | |||
|
|
|
|
|
| |
Short-Term Investments 1.5% |
|
|
| |||
841,579 |
|
JPMorgan U.S. Government Money Market Fund, IM Shares (7 day yield of 0.35%) |
|
841,579 |
| |
|
|
|
|
|
| |
Total Short-Term Investments: 1.5% |
|
841,579 |
| |||
|
|
|
|
|
| |
Securities Lending Collateral 5.2% |
|
|
| |||
2,958,491 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.30%) (e) |
|
2,958,491 |
| |
|
|
|
|
|
| |
Total Securities Lending Collateral: 5.2% |
|
2,958,491 |
| |||
|
|
|
| |||
Total Investments: 105.0% |
|
59,824,368 |
(g) | |||
|
|
|
| |||
Obligation to Return Collateral for |
|
(2,958,491 |
) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: 0.2% |
|
86,010 |
| |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
56,951,887 |
|
> Notes to Statement of Investments | |
(a) |
Non-income producing security. |
(b) |
All or a portion of this security was on loan at September 30, 2016. The total market value of securities on loan at September 30, 2016 was $2,827,635. |
(c) |
Security is traded on a Swedish exchange. |
(d) |
On September 30, 2016, the Funds total equity investments were denominated in currencies as follows: |
Currency |
|
Value |
|
Percentage of |
| |
Euro |
|
$ |
24,262,446 |
|
42.6 |
|
British Pound |
|
15,400,202 |
|
27.0 |
| |
Swedish Krona |
|
8,468,488 |
|
14.9 |
| |
Danish Krone |
|
3,040,415 |
|
5.3 |
| |
Other currencies less than 5% of total net assets |
|
4,852,747 |
|
8.5 |
| |
Total Equities |
|
$ |
56,024,298 |
|
98.3 |
|
(e) |
Investment made with cash collateral received from securities lending activity. |
(f) |
At September 30, 2016, for federal income tax purposes, the cost of investments was approximately $51,247,291 and net unrealized appreciation was $8,577,077 consisting of gross unrealized appreciation of $10,293,460 and gross unrealized depreciation of $1,716,383. |
(g) |
Securities are valued using policies described in the Notes to Financial Statements in the shareholder report dated June 30, 2016. |
Fair Value Measurements
Various inputs are used in determining the value of the Funds 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 managements 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.
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 CWAMs Valuation Committee (the Committee) 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.
The Committee is responsible for applying the Trusts Portfolio Pricing Policy and the CWAM pricing procedures (the Policies), which are approved by and subject to the oversight of 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 CWAM believes that available market quotations are unreliable. The Committee also reviews the continuing appropriateness of the Policies. In circumstances where a security has been fair valued, the Committee will also review the continuing appropriateness of the current value of the security. 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; circumstances under
which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default; and certain delegations of authority to determine fair values to the Funds investment manager. 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, 2016, in valuing the Funds assets:
Investment Type |
|
Quoted |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Europe |
|
$ |
|
|
$ |
55,215,758 |
|
$ |
|
|
$ |
55,215,758 |
|
Other Countries |
|
808,540 |
|
|
|
|
|
808,540 |
| ||||
Total Equities |
|
808,540 |
|
55,215,758 |
|
|
|
56,024,298 |
| ||||
Total Short-Term Investments |
|
841,579 |
|
|
|
|
|
841,579 |
| ||||
Total Securities Lending Collateral |
|
2,958,491 |
|
|
|
|
|
2,958,491 |
| ||||
Total Investments |
|
$ |
4,608,610 |
|
$ |
55,215,758 |
|
$ |
|
|
$ |
59,824,368 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys 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.
There were no transfers of financial assets between levels during the period.
Portfolio Diversification (Unaudited)
At September 30, 2016, the Funds portfolio investments as a percentage of net assets were diversified as follows:
|
|
Value |
|
Percentage |
| |
> Industrials |
|
|
|
|
| |
Machinery |
|
$ |
6,894,519 |
|
12.1 |
|
Commercial Services & Supplies |
|
3,019,343 |
|
5.3 |
| |
Professional Services |
|
2,221,883 |
|
3.9 |
| |
Construction & Engineering |
|
1,233,796 |
|
2.2 |
| |
Aerospace & Defense |
|
1,199,729 |
|
2.1 |
| |
Building Products |
|
307,127 |
|
0.5 |
| |
|
|
14,876,397 |
|
26.1 |
| |
> Information Technology |
|
|
|
|
| |
IT Services |
|
3,265,486 |
|
5.7 |
| |
Software |
|
2,640,875 |
|
4.6 |
| |
Electronic Equipment, Instruments & Components |
|
2,322,872 |
|
4.1 |
| |
Internet Software & Services |
|
1,458,653 |
|
2.5 |
| |
Semiconductors & Semiconductor Equipment |
|
661,511 |
|
1.2 |
| |
|
|
10,349,397 |
|
18.1 |
| |
> Consumer Discretionary |
|
|
|
|
| |
Hotels, Restaurants & Leisure |
|
3,738,022 |
|
6.6 |
| |
Specialty Retail |
|
3,350,232 |
|
5.9 |
| |
Distributors |
|
863,283 |
|
1.5 |
| |
Auto Components |
|
633,601 |
|
1.1 |
| |
Internet & Catalog Retail |
|
577,767 |
|
1.0 |
| |
Media |
|
535,449 |
|
0.9 |
| |
|
|
9,698,354 |
|
17.0 |
| |
> Health Care |
|
|
|
|
| |
Health Care Equipment & Supplies |
|
2,072,107 |
|
3.6 |
| |
Pharmaceuticals |
|
1,624,651 |
|
2.9 |
| |
Biotechnology |
|
1,279,016 |
|
2.2 |
| |
Life Sciences Tools & Services |
|
776,727 |
|
1.4 |
| |
|
|
5,752,501 |
|
10.1 |
| |
> Financials |
|
|
|
|
| |
Capital Markets |
|
4,324,232 |
|
7.6 |
| |
Insurance |
|
611,062 |
|
1.1 |
| |
|
|
4,935,294 |
|
8.7 |
| |
> Materials |
|
|
|
|
| |
Chemicals |
|
|
1,893,053 |
|
3.3 |
|
Paper & Forest Products |
|
1,685,894 |
|
3.0 |
| |
Containers & Packaging |
|
580,926 |
|
1.0 |
| |
|
|
4,159,873 |
|
7.3 |
| |
> Real Estate |
|
|
|
|
| |
Equity Real Estate Investment Trusts (REITs) |
|
2,881,540 |
|
5.1 |
| |
|
|
2,881,540 |
|
5.1 |
| |
> Consumer Staples |
|
|
|
|
| |
Food & Staples Retailing |
|
1,443,411 |
|
2.5 |
| |
Food Products |
|
1,329,032 |
|
2.3 |
| |
|
|
2,772,443 |
|
4.8 |
| |
> Utilities |
|
|
|
|
| |
Multi-Utilities |
|
598,499 |
|
1.1 |
| |
|
|
598,499 |
|
1.1 |
| |
|
|
|
|
|
| |
Total Equities: |
|
56,024,298 |
|
98.3 |
| |
Short-Term Investments: |
|
841,579 |
|
1.5 |
| |
Securities Lending Collateral: |
|
2,958,491 |
|
5.2 |
| |
Total Investments: |
|
59,824,368 |
|
105.0 |
| |
|
|
|
|
|
| |
Obligation to Return Collateral for Securities Loaned: |
|
(2,958,491 |
) |
(5.2 |
) | |
Cash and Other Assets Less Liabilities: |
|
86,010 |
|
0.2 |
| |
|
|
|
|
|
| |
Net Assets: |
|
$ |
56,951,887 |
|
100.0 |
|
Item 2. Controls and Procedures.
(a) The registrants principal executive officer and principal financial officers, based on their evaluation of the registrants disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-Q is accumulated and communicated to the registrants management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b) There was no change in the registrants internal control over financial reporting that occurred during the registrants last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 3. Exhibits.
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) |
|
Columbia Acorn Trust |
| ||
|
|
|
| ||
|
|
|
| ||
By (Signature and Title) |
|
/s/ P. Zachary Egan |
| ||
|
|
P. Zachary Egan, President and Principal Executive Officer |
| ||
|
|
| |||
|
|
| |||
Date |
|
November 21, 2016 |
| ||
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) |
|
/s/ P. Zachary Egan |
| ||
|
|
P. Zachary Egan, President and Principal Executive Officer |
| ||
|
|
|
|
| |
|
|
|
|
| |
Date |
|
November 21, 2016 |
| ||
|
|
|
| ||
|
|
|
| ||
By (Signature and Title) |
|
/s/ John M. Kunka |
| ||
|
|
John M. Kunka, Treasurer and Principal Accounting and Financial Officer |
| ||
|
|
|
|
| |
|
|
|
|
| |
Date |
|
November 21, 2016 |
| ||
Exhibit 99.CERT
I, John M. Kunka, certify that:
1. I have reviewed this report on Form N-Q of Columbia Acorn Trust;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions):
(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and
(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: |
November 21, 2016 |
|
/s/ John M. Kunka |
|
|
|
|
|
|
|
John M. Kunka, Treasurer and Principal Accounting and Financial Officer |
I, P. Zachary Egan, certify that:
1. I have reviewed this report on Form N-Q of Columbia Acorn Trust;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions):
(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and
(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
Date: |
November 21, 2016 |
|
/s/ P. Zachary Egan |
|
|
|
|
|
|
|
P. Zachary Egan, President and Principal Executive Officer |