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Portfolio of Investments
Columbia Absolute Return Currency and Income Fund
(formerly known as RiverSource Absolute Return Currency and Income Fund)
July 31, 2010 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Bonds (9.8%)


	Coupon			Principal
Issuer	rate			amount			Value(a)
Supranational (1.1%)(c)
Inter-American Development Bank
Senior Unsecured
03-16-11		0.737	%	$	2,000,000	(g)	$	2,003,970

Asset-Backed (3.4%)
Countrywide Home Equity Loan Trust
Series 2005-H Class 2A (FGIC)
12-15-35		0.581			133,933	(e,g)		51,546
Northstar Education Finance, Inc.
Series 2007-1 Class A2
01-29-46		1.074			750,000	(g)		684,375
SLM Student Loan Trust
Series 2005-5 Class A2
10-25-21		0.578			782,930	(g)		779,692
SLM Student Loan Trust
Series 2005-8 Class A2
07-25-22		0.588			1,058,415	(g)		1,056,386
SLM Student Loan Trust
Series 2006-A Class A2
12-15-20		0.617			1,995,994	(g)		1,981,081
SLM Student Loan Trust
Series 2006-C Class A2
09-15-20		0.587			767,198	(g)		750,481
SLM Student Loan Trust
Series 2007-2 Class A2
07-25-17		0.498			923,045	(g)		915,728

Total								6,219,289


Commercial Mortgage-Backed (1.5%)(f)
GS Mortgage Securities Corp. II
Series 2007-EOP Class A2
03-06-20		0.481			1,200,000	(d,g)		1,139,455
GS Mortgage Securities Corp. II
Series 2007-EOP Class A3
03-06-20		0.531			1,770,000	(d,g)		1,643,788
Morgan Stanley Dean Witter Capital I
Series 2002-TOP7 Class A1
01-15-39		5.380			40,788			40,802

Total								2,824,045


Residential Mortgage-Backed (0.1%)(f)
Downey Savings & Loan Association Mortgage Loan Trust
CMO Series 2006-AR2 Class 2AB1
11-19-37		0.431			50,153	(g)		49,540

Coupon

Principal

Issuer

rate

amount

Value(a)

Harborview Mortgage Loan Trust

CMO Series 2006-12 Class 2A11

01-19-38

0.431

42,902

(g)

42,825

Total

92,365

Banking (1.1%)

The Royal Bank of Scotland PLC

Government Liquid Guaranteed

05-11-12

1.121

2,000,000

(c,d,g)

2,001,744

Brokerage (0.1%)

Lehman Brothers Holdings, Inc.

Senior Unsecured

10-22-08

0.000

640,000

(b,h)

134,400

Construction Machinery (2.5%)

John Deere Capital Corp.

Senior Unsecured

01-18-11

1.225

4,500,000

(g)

4,512,118

Total Bonds
(Cost: $18,532,782)

17,787,931

FDIC-Insured Debt (2.2%)(i)


	Coupon			Principal
Issuer	rate			amount			Value(a)
Bank of America Corp.
FDIC Government Guaranty
06-22-12		0.738	%	$	2,000,000	(g)	$	2,011,540
General Electric Capital Corp.
FDIC Government Guaranty
03-11-11		0.617			2,000,000	(g)		2,005,510

Total FDIC-Insured Debt (Cost: $4,000,000)							$	4,017,050

Money Market Fund (88.4%)


	Shares			Value(a)
Columbia Short-Term Cash Fund, 0.279%		160,520,737	(j)	$	160,520,737

Total Money Market Fund (Cost: $160,520,737)				$	160,520,737


Total Investments in Securities (Cost: $183,053,519)(k)				$	182,325,718

Investment in Derivatives

Forward Foreign Currency Contracts Open at July 31, 2010


	Currency to be		Currency to be		Unrealized		Unrealized
Exchange date	delivered		received		appreciation		depreciation

Sept. 1, 2010		18,569,000		17,723,078	$	—	$	(109,110	)
	(CHF)		(USD)

Sept. 1, 2010		20,521,000		26,543,400		—		(196,934	)
	(EUR)		(USD)

Sept. 1, 2010		3,865,559,000		44,304,401		—		(449,530	)
	(JPY)		(USD)

Sept. 1, 2010		44,083,733		49,269,000		314,927		—
	(USD)		(AUD)

Sept. 1, 2010		26,550,396		27,402,000		89,754		—
	(USD)		(CAD)

Sept. 1, 2010		17,628,233		109,392,000		348,023		—
	(USD)		(NOK)

Total					$	752,704	$	(755,574	)

Notes to Portfolio of Investments

AUD — Australian Dollar

CAD — Canadian Dollar

CHF — Swiss Franc

EUR — European Monetary Unit

JPY — Japanese Yen

NOK — Norwegian Krone



(a)		Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated April 30, 2010.


(b)		Non-income producing. For long-term debt securities, item identified is in default as to payment of interest and/or principal.

(c)		Foreign security values are stated in U.S. dollars. For debt securities, principal amounts are denominated in U.S. dollar currency unless otherwise noted. At July 31, 2010, the value of foreign securities, excluding short-term securities, represented 2.21% of net assets.

(d)		Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2010, the value of these securities amounted to $4,784,987 or 2.63% of net assets.

(e)		The following abbreviation is used in the portfolio security description to identify the insurer and/or guarantor of the issue:

FGIC — Financial Guaranty Insurance Company


(f)		Mortgage-backed securities represent direct or indirect participations in, or are secured by and payable from, mortgage loans secured by real property, and include single- and multi-class pass-through securities and collateralized mortgage obligations. These securities may be issued or guaranteed by U.S. government agencies or instrumentalities, or by private issuers, generally originators and investors in mortgage loans, including savings associations, mortgage bankers, commercial banks, investment bankers and special purpose entities. The maturity dates shown represent the original maturity of the underlying obligation. Actual maturity may vary based upon prepayment activity on these obligations. Unless otherwise noted, the coupon rates presented are fixed rates.

(g)		Interest rate varies either based on a predetermined schedule or to reflect current market conditions; rate shown is the effective rate on July 31, 2010.

(h)		This position is in bankruptcy.

(i)		This debt is guaranteed under the FDIC’s Temporary Liquidity Guarantee Program (TLGP) and is backed by the full faith and credit of the United States.

(j)		Affiliated Money Market Fund – The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at July 31, 2010.

(k)		At July 31, 2010, the cost of securities for federal income tax purposes was approximately $183,054,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:


Unrealized appreciation	$	74,000
Unrealized depreciation		(802,000	)

Net unrealized depreciation	$	(728,000	)

Fair Value Measurements

Generally accepted accounting principles (GAAP) require disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category.

The Fund categorizes its fair value measurements according to a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund’s assumptions about the information market participants would use in pricing an investment. An investment’s level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset or liability’s fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

•

Level 1 – Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

•

Level 2 – Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

•

Level 3 – Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Fund Administrator, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models rely on one or more significant unobservable inputs and/or significant assumptions by the Fund Administrator. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.

The following table is a summary of the inputs used to value the Fund’s investments as of July 31, 2010:


	Fair value at July 31, 2010
	Level 1		Level 2
	quoted prices		other			Level 3
	in active		significant			significant
	markets for		observable			unobservable
Description(a)	identical assets		inputs(b)			inputs		Total

Bonds
Foreign Government Obligations & Agencies	$	—	$	2,003,970		$	—	$	2,003,970
Asset-Backed Securities		—		6,219,289			—		6,219,289
Commercial Mortgage-Backed Securities		—		2,824,045			—		2,824,045
Residential Mortgage-Backed Securities		—		92,365			—		92,365
Corporate Debt Securities		—		6,648,262			—		6,648,262

Total Bonds		—		17,787,931			—		17,787,931


Other
FDIC-Insured Debt Securities		—		4,017,050			—		4,017,050
Affiliated Money Market Fund		160,520,737		—			—		160,520,737

Total Other		160,520,737		4,017,050			—		164,537,787


Investments in Securities		160,520,737		21,804,981			—		182,325,718
Other Financial Instruments(c)		—		(2,870	)		—		(2,870	)


Total	$	160,520,737	$	21,802,111		$	—	$	182,322,848



(a)		See the Portfolio of Investments for all investment classifications not indicated in the table.

(b)		There were no significant transfers between Levels 1 and 2 during the period.

(c)		Other Financial Instruments are derivative instruments, which are valued at the unrealized appreciation (depreciation) on the instrument. Derivative descriptions are located in the Investments in Derivatives section of the Portfolio of Investments.

Portfolio of Investments
Columbia Emerging Markets Bond Fund
(formerly known as RiverSource Emerging Markets Bond Fund)
July 31, 2010 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Bonds (94.4%)(c)


	Coupon			Principal
Issuer	rate			amount			Value(a)
Argentina (4.3%)
Argentina Bonos
Senior Unsecured
09-12-13		7.000	%	$	6,100,000		$	5,961,267
10-03-15		7.000			2,600,000	(e)		2,275,000
Argentina Government International Bond
Senior Unsecured
12-15-35		0.000			16,450,000	(g)		1,628,550

Total								9,864,817


Brazil (7.8%)
Banco Nacional de Desenvolvimento Economico e Social
Senior Unsecured
06-16-18		6.369			2,150,000	(d)		2,378,438
Brazil Notas do Tesouro Nacional
(BRL)
01-01-12		10.000			489,500			2,749,021
01-01-13		10.000			1,006,100			5,534,253
Brazilian Government International Bond
Senior Unsecured
01-22-21		4.875			1,470,000			1,524,887
01-07-41		5.625			1,000,000			1,037,500
Marfrig Overseas Ltd.
11-16-16		9.625			1,130,000	(d)		1,196,388
05-04-20		9.500			800,000	(d,e)		823,200
Morgan Stanley
(BRL) Senior Unsecured
05-03-17		10.090			3,100,000	(d)		1,648,655
Petrobras International Finance Co.
01-20-40		6.875			1,000,000	(e)		1,086,793

Total								17,979,135


Cayman Islands (4.2%)
Government of the Cayman Islands
Senior Unsecured
11-24-19		5.950			1,800,000	(d)		1,872,000
Peru Enhanced Pass-Through Finance Ltd.
Senior Secured Zero Coupon
05-31-18		6.276			5,064,228	(d,f)		4,051,382
Petrobras International Finance Co.
03-15-19		7.875			3,200,000	(e)		3,855,446

Total								9,778,828


	Coupon		Principal
Issuer	rate		amount			Value(a)
Colombia (5.8%)
Bogota Distrito Capital
(COP) Senior Unsecured
07-26-28		9.750		1,377,000,000	(d)		901,745
Colombia Government International Bond
09-18-37		7.375		3,250,000			4,046,250
Colombia Government International Bond
(COP)
10-22-15		12.000		2,693,000,000			1,893,181
Colombia Government International Bond
(COP) Senior Unsecured
04-14-21		7.750		1,911,000,000			1,153,548
Columbia Government International Bond
Senior Unsecured
01-18-41		6.125		3,600,000			3,920,533
Ecopetrol SA
Senior Unsecured
07-23-19		7.625		700,000	(e)		819,000
Republic of Colombia
(COP)
06-28-27		9.850		1,000,000,000			722,542

Total							13,456,799


Croatia (0.9%)
Croatia Government International Bond
07-14-20		6.625		2,000,000	(d)		2,125,000

Dominican Republic (2.3%)
Aes Dominicana Energia Finance SA
12-13-15		11.000		1,050,000	(d)		1,105,125
Cerveceria Nacional Dominicana C por A
03-27-12		16.000		1,450,000	(d)		1,393,305
Dominican Republic International Bond
05-06-21		7.500		2,600,000	(d)		2,716,740

Total							5,215,170


El Salvador (1.4%)
El Salvador Government International Bond
04-10-32		8.250		750,000	(d)		811,875
06-15-35		7.650		1,810,000	(d)		1,895,975
El Salvador Government International Bond
Senior Unsecured
01-24-23		7.750		460,000	(d)		496,110

Total							3,203,960


Indonesia (12.8%)
Indonesia Government International Bond
Senior Unsecured
10-12-35		8.500		1,650,000	(d)		2,266,605
02-17-37		6.625		1,950,000	(d,e)		2,203,500
01-17-38		7.750		2,800,000	(d)		3,577,000
Indonesia Treasury Bond
(IDR) Senior Unsecured
10-15-14		11.000		6,000,000,000			755,905
07-15-17		10.000		10,000,000,000			1,249,121
09-15-19		11.500		23,500,000,000			3,211,645
11-15-20		11.000		9,000,000,000			1,207,347
06-15-21		12.800		12,800,000,000			1,894,114
07-15-22		10.250		29,000,000,000			3,679,165
Majapahit Holding BV
10-17-16		7.750		2,030,000	(d)		2,314,200
06-28-17		7.250		1,150,000	(d)		1,253,500
08-07-19		8.000		2,100,000	(d)		2,446,500
01-20-20		7.750		2,900,000	(d)		3,369,630

Total							29,428,232


	Coupon		Principal
Issuer	rate		amount			Value(a)
Philippine Islands (3.6%)
National Power Corp.
Government Guaranteed
11-02-16		6.875		900,000	(d)		1,023,157
Philippine Government International Bond
Senior Unsecured
01-20-20		6.500		900,000			1,040,670
01-15-32		6.375		600,000	(e)		658,500
Power Sector Assets & Liabilities Management Corp.
Government Guaranteed
05-27-19		7.250		2,750,000	(d,e)		3,186,563
12-02-24		7.390		2,000,000	(d,e)		2,340,284

Total							8,249,174


Qatar (1.6%)
Qatar Government International Bond
Senior Notes
01-20-40		6.400		1,000,000	(d)		1,090,000
Qatari Diar Finance QSC
Government Guaranteed
07-21-20		5.000		1,500,000	(d)		1,512,000
Qtel International Finance Ltd.
06-10-19		7.875		1,000,000	(d)		1,167,698

Total							3,769,698


Russia (14.2%)
AK Transneft OJSC Via TransCapitalInvest Ltd.
Senior Unsecured
08-07-18		8.700		4,680,000	(d,e)		5,677,795
Gazprom Via Gaz Capital SA
Secured
07-31-14		8.125		1,000,000	(d)		1,125,000
Gazprom Via Gaz Capital SA
Senior Unsecured
11-22-16		6.212		3,750,000	(d)		3,876,563
04-11-18		8.146		850,000	(d,e)		964,750
08-16-37		7.288		2,950,000	(d)		3,045,875
Lukoil International Finance BV
11-05-19		7.250		2,400,000	(d)		2,571,080
Russian Foreign Bond — Eurobond
03-31-30		7.500		6,818,120	(d)		7,921,974
Russian Foreign Bond — Eurobond
Senior Unsecured
04-29-20		5.000		3,500,000	(d)		3,526,250
TNK-BP Finance SA
03-13-18		7.875		2,625,000	(d)		2,864,531
02-02-20		7.250		1,000,000	(d)		1,043,750

Total							32,617,568


Supra-National (0.7%)
Corp. Andina de Fomento
Senior Unsecured
06-04-19		8.125		1,300,000			1,583,792

Trinidad and Tobago (0.9%)
Petroleum Co. of Trinidad & Tobago Ltd.
Senior Unsecured
08-14-19		9.750		1,800,000	(d)		2,126,547


	Coupon		Principal
Issuer	rate		amount			Value(a)
Turkey (6.8%)
Turkey Government International Bond
Senior Unsecured
03-15-15		7.250		1,100,000			1,266,375
07-14-17		7.500		500,000			590,000
11-07-19		7.500		2,025,000			2,399,625
06-05-20		7.000		1,300,000			1,495,000
03-30-21		5.625		1,500,000			1,548,750
03-17-36		6.875		4,350,000			4,708,874
05-30-40		6.750		3,500,000			3,705,800

Total							15,714,424


Ukraine (1.1%)
MHP SA
04-29-15		10.250		2,528,000	(d)		2,596,463

United Kingdom (1.2%)
Vedanta Resources PLC
Senior Unsecured
07-18-18		9.500		2,500,000	(d)		2,766,824

Uruguay (2.9%)
Uruguay Government International Bond
11-18-22		8.000		200,000			251,000
Uruguay Government International Bond
(UYU)
04-05-27		4.250		85,563,913	(b)		4,365,794
Uruguay Government International Bond
Senior Unsecured
03-21-36		7.625		1,783,939			2,163,026

Total							6,779,820


Venezuela (6.7%)
Petroleos de Venezuela SA
10-28-16		5.125		3,400,000			1,806,345
04-12-17		5.250		8,600,000			5,203,000
Venezuela Government International Bond
02-26-16		5.750		4,289,500	(d,e)		2,938,308
03-31-38		7.000		1,800,000	(d)		1,021,500
Venezuela Government International Bond
Senior Unsecured
10-08-14		8.500		794,000			647,110
05-07-23		9.000		5,450,000	(d)		3,706,000

Total							15,322,263

Total Bonds (Cost: $193,944,472)						$	217,599,817

Money Market Fund (3.1%)


	Shares			Value(a)
Columbia Short-Term Cash Fund, 0.279%		7,120,891	(i)	$	7,120,891

Total Money Market Fund (Cost: $7,120,891)				$	7,120,891

Investments of Cash Collateral Received for Securities on Loan (3.3%)

Effective

Principal

Issuer

yield

amount

Value(a)

Repurchase Agreements(h)

UBS Securities LLC
dated 07-30-10, matures 08-02-10,
repurchase price
$7,594,298

0.210

7,594,165

7,594,165

Effective

Principal

Issuer

yield

amount

Value(a)

Total Investments of Cash Collateral Received for Securities on Loan
(Cost: $7,594,165)

7,594,165

Total Investments in Securities
(Cost: $208,659,528)(j)

232,314,873

Investment in Derivatives

Credit Default Swap Contracts Outstanding at July 31, 2010
Buy Protection


											Unamortized			Periodic
											premium			payments
		Expiration	Pay fixed					Market			(paid)			receivable			Unrealized
Counterparty	Reference entity	date	rate			Notional amount		Value			received			(payable)			depreciation

JPMorgan Chase Bank	CDX Emerging Markets Index	Dec. 20, 2013		2.65	%	$	2,000,000	$	(15,090	)	$	(251,853	)	$	(6,036	)	$	(272,979	)

Credit Default Swap Contracts Outstanding at July 31, 2010
Sell Protection

Unamortized

Periodic

premium

payments

Expiration

Receive

Market

(paid)

receivable

Unrealized

Counterparty

Reference entity

date

fixed rate

Notional amount

Value

received

(payable)

appreciation

Merril Lynch International

CDX Emerging Markets Index

June 20, 2013

2.65

2,000,000

15,182

—

6,036

21,218

Notes to Portfolio of Investments

BRL — Brazilian Real

COP — Colombian Peso

IDR — Indonesian Rupiah

PEN — Peruvian New Sol

MXN — Mexican Peso

UYU — Uraguay Peso



(a)		Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated April 30, 2010.

(b)		Inflation-indexed bonds are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.

(c)		Foreign security values are stated in U.S. dollars. For debt securities, principal amounts are denominated in U.S. dollar currency unless otherwise noted.

(d)		Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2010, the value of these securities amounted to $111,903,443 or 48.52% of net assets.

(e)		At July 31, 2010, security was partially or fully on loan.

(f)		For zero coupons, the interest rate disclosed represents the annualized effective yield on the date of acquisition.

(g)		This is a variable rate security that entitles holders to receive only interest payments. Interest is paid annually. The interest payment is based on the Gross Domestic Product (GDP) level of the previous year for the respective country. To the extent that the previous year’s GDP exceeds the ‘base case GDP’, an interest payment is made equal to 0.012225 of the difference.

(h)		The table below represents securities received as collateral for repurchase agreements. This collateral, which is generally high quality short-term obligations, is deposited with the Fund’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the repurchase price plus accrued interest at all times. The market value of securities held as collateral for repurchase agreements is monitored on a daily basis to ensure the existence of the proper level of collateral.

UBS Securities LLC (0.210%)


Security description	Value (a)

Fannie Mae Interest Strip	$	1,725,863
Fannie Mae Principal Strip		329,665
Federal Farm Credit Bank		914,490
Federal Home Loan Mortgage Corp		3,240,347
Freddie Mac Strips		1,535,704

Total market value of collateral securities	$	7,746,069


(i)		Affiliated Money Market Fund – The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at July 31, 2010.

(j)		At July 31, 2010, the cost of securities for federal income tax purposes was approximately $208,660,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:


Unrealized appreciation	$	24,896,000
Unrealized depreciation		(1,241,000	)

Net unrealized appreciation	$	23,655,000

Fair Value Measurements

Fair value inputs are summarized in the three broad levels listed below:

•

Level 2 – Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

•

Level 3 – Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments).

The following table is a summary of the inputs used to value the Fund’s investments as of July 31, 2010:


	Fair value at July 31, 2010
	Level 1		Level 2
	quoted prices		other			Level 3
	in active		significant			significant
	markets for		observable			unobservable
Description(a)	identical assets		inputs(b)			inputs		Total

Bonds
Foreign Government Obligations & Agencies	$	—	$	156,214,713		$	4,051,382	$	160,266,095
Corporate Debt Securities
Automotive		—		—			2,074,876		2,074,876
Food and Beverage		—		4,616,050			1,393,305		6,009,355
All Other Industries		—		49,249,491			—		49,249,491

Total Bonds		—		210,080,254			7,519,563		217,599,817


Other
Affiliated Money Market Fund(c)		7,120,891		—			—		7,120,891
Investments of Cash Collateral Received for Securities on Loan		—		7,594,165			—		7,594,165

Total Other		7,120,891		7,594,165			—		14,715,056


Investments in Securities		7,120,891		217,674,419			7,519,563		232,314,873
Other Financial Instruments(d)		—		(251,761	)		—		(251,761	)


Total	$	7,120,891	$	217,422,658		$	7,519,563	$	232,063,112



(a)		See the Portfolio of Investments for all investment classifications not indicated in the table.

(b)		There were no significant transfers between Levels 1 and 2 during the period.

(c)		Money market fund that is a sweep investment for cash balances in the Fund at July 31, 2010.

(d)		Other Financial Instruments are derivative instruments, which are valued at the unrealized appreciation (depreciation) on the instrument. Derivative descriptions are located in the Investments in Derivatives section of the Portfolio of Investments.


	Coupon		Principal
Issuer	rate		amount			Value(a)
Credit Agricole SA
(EUR) Senior Unsecured
06-24-13		6.000		550,000			790,158
EDF SA
(EUR) Senior Unsecured
02-05-18		5.000		750,000			1,097,482
France Government Bond OAT
(EUR)
04-25-12		5.000		540,000			753,675
04-25-13		4.000		7,020,000			9,845,160
10-25-16		5.000		3,180,000			4,802,775
10-25-19		3.750		2,000,000			2,792,456
France Telecom SA
(EUR) Senior Unsecured
02-21-17		4.750		1,180,000			1,696,798
Veolia Environnement
(EUR) Senior Unsecured
01-16-17		4.375		315,000			435,674

Total							23,901,593


Germany (5.1%)
Bayerische Landesbank
(JPY)
04-22-13		1.400		170,000,000			1,991,033
Bundesrepublik Deutschland
(EUR)
01-04-15		3.750		1,650,000			2,348,389
07-04-19		3.500		2,120,000			2,963,845
07-04-27		6.500		4,140,000			7,677,660
07-04-28		4.750		2,415,000			3,761,964
07-04-34		4.750		4,025,000			6,410,389
Landwirtschaftliche Rentenbank
(AUD) Government Guaranteed
06-15-11		5.750		1,250,000			1,137,580

Total							26,290,860


Greece (0.3%)
Hellenic Republic Government Bond
(EUR) Senior Unsecured
03-20-24		4.700		1,800,000			1,420,491

Indonesia (1.6%)
Indonesia Government International Bond
Senior Unsecured
01-17-18		6.875		500,000	(d)		585,000
10-12-35		8.500		190,000	(d)		261,003
02-17-37		6.625		205,000	(d)		231,650
01-17-38		7.750		140,000	(d)		178,850
Indonesia Treasury Bond
(IDR) Senior Unsecured
05-15-16		10.750		9,320,000,000			1,188,068
11-15-20		11.000		19,540,000,000			2,621,285
07-15-22		10.250		21,944,000,000			2,783,986


	Coupon		Principal
Issuer	rate		amount			Value(a)
Perusahaan Penerbit SBSN
Senior Unsecured
04-23-14		8.800		160,000	(d,n)		186,565

Total							8,036,407


Italy (3.0%)
Intesa Sanpaolo SpA
(EUR) Senior Unsecured
12-19-13		5.375		400,000			564,514
Italy Buoni Poliennali Del Tesoro
(EUR)
04-15-12		4.000		1,745,000			2,357,226
08-01-15		3.750		700,000			953,910
02-01-19		4.250		2,445,000			3,317,409
11-01-26		7.250		4,186,283			7,052,359
11-01-27		6.500		525,000			827,929

Total							15,073,347


Japan (11.7%)
Bayer Holding Ltd.
(JPY)
06-28-12		1.955		40,000,000			467,211
Development Bank of Japan
(JPY) Government Guaranteed
06-20-12		1.400		326,000,000			3,850,324
Japan Government 10-Year Bond
(JPY) Senior Unsecured
06-20-12		1.400		95,000,000			1,125,644
12-20-12		1.000		708,000,000			8,358,391
12-20-14		1.300		200,000,000			2,412,707
09-20-17		1.700		811,000,000			10,097,837
Japan Government 20-Year Bond
(JPY) Senior Unsecured
03-20-20		2.400		420,000,000			5,474,424
12-20-22		1.400		496,000,000			5,772,621
12-20-26		2.100		757,000,000			9,371,229
09-20-29		2.100		300,000,000			3,682,207
Japan Government 30-Year Bond
(JPY) Senior Unsecured
12-20-34		2.400		283,000,000			3,654,461
03-20-39		2.300		123,000,000			1,566,710
Japanese Government CPI-Linked Bond
(JPY) Senior Unsecured
03-10-18		1.400		346,368,000	(m)		3,989,627

Total							59,823,393


Kazakhstan (0.1%)
KazMunaiGaz Finance Sub BV
07-02-18		9.125		250,000	(d)		298,438

Luxembourg (0.4%)
ArcelorMittal
Senior Unsecured
06-01-19		9.850		1,195,000			1,544,011


	Coupon		Principal
Issuer	rate		amount			Value(a)
Ball Corp.
09-01-16		7.125		30,000	(n)		32,250
03-15-18		6.625		75,000			77,438
09-01-19		7.375		35,000			37,800
09-15-20		6.750		234,000			246,285
Bank of America Corp.
(GBP) Senior Unsecured
02-02-11		0.768		950,000	(i)		1,481,967
Bank of America Corp.
Senior Unsecured
05-01-18		5.650		2,190,000			2,314,979
BellSouth Corp.
Senior Unsecured
10-15-11		6.000		785,000			832,515
BMW Vehicle Lease Trust
Series 2009-1 Class A2
04-15-11		2.040		213,565			213,700
Brocade Communications Systems, Inc.
Senior Secured
01-15-18		6.625		76,000	(d)		77,425
01-15-20		6.875		67,000	(d,n)		68,508
Burlington Northern Santa Fe LLC
Senior Unsecured
05-01-40		5.750		730,000			777,716
CC Holdings GS V LLC/Crown Castle GS III Corp.
Senior Secured
05-01-17		7.750		820,000	(d)		895,850
CCO Holdings LLC/Capital Corp.
04-30-18		7.875		136,000	(d)		142,800
04-30-20		8.125		58,000	(d)		61,335
CenterPoint Energy Houston Electric LLC
03-01-14		7.000		605,000			715,065
CenterPoint Energy Resources Corp.
Senior Unsecured
02-15-11		7.750		1,270,000			1,313,826
CF Industries, Inc.
05-01-18		6.875		65,000			68,088
05-01-20		7.125		65,000			69,225
Charter Communications Operating LLC/Capital
Secured
04-30-12		8.000		945,000	(d)		996,975
Chesapeake Energy Corp.
01-15-16		6.625		290,000			296,525
CIT Group, Inc.
Senior Secured
05-01-16		7.000		535,000			509,588
CitiFinancial Auto Issuance Trust
Series 2009-1 Class A2
11-15-12		1.830		4,449,694	(d)		4,471,050
Citigroup Commercial Mortgage Trust
Series 2006-C5 Class A4
10-15-49		5.431		1,700,000	(f)		1,794,719
Citigroup, Inc.
05-22-19		8.500		755,000			917,489


	Coupon		Principal
Issuer	rate		amount			Value(a)
Citigroup, Inc.
(EUR) Senior Unsecured
08-02-19		5.000		595,000			785,791
Citigroup, Inc.
Senior Unsecured
05-15-18		6.125		700,000			748,896
Colorado Interstate Gas Co.
Senior Unsecured
11-15-15		6.800		3,170,000			3,695,580
Comcast Corp.
07-01-39		6.550		1,235,000			1,389,091
Commercial Mortgage Pass-Through Certificates
Series 2006-CN2A Class BFL
02-05-19		0.657		400,000	(d,f,i)		345,775
Credit Suisse First Boston Mortgage Securities Corp.
Series 2004-C2 Class A1
05-15-36		3.819		467,266	(f)		471,857
Cricket Communications, Inc.
Senior Secured
05-15-16		7.750		317,000			328,095
CSC Holdings LLC
Senior Unsecured
04-15-14		8.500		285,000			307,800
02-15-19		8.625		100,000			109,250
CVS Caremark Corp.
Senior Unsecured
09-15-39		6.125		305,000			325,555
DaVita, Inc.
03-15-13		6.625		478,000			484,573
Del Monte Corp.
10-15-19		7.500		370,000			389,888
Denbury Resources, Inc.
04-01-13		7.500		340,000			344,250
03-01-16		9.750		310,000			341,388
DISH DBS Corp.
10-01-14		6.625		550,000			562,375
02-01-16		7.125		290,000			297,975
Dominion Resources, Inc.
Senior Unsecured
08-01-33		5.250		1,460,000			1,610,025
Dr Pepper Snapple Group, Inc.
12-21-11		1.700		1,310,000			1,319,575
DTE Energy Co.
Senior Unsecured
06-01-11		7.050		115,000			120,402
05-15-14		7.625		1,540,000			1,804,885
Duke Energy Corp.
Senior Unsecured
02-01-14		6.300		450,000			511,731
Duke Energy Indiana, Inc.
1st Mortgage
08-15-38		6.350		940,000			1,117,486


	Coupon		Principal
Issuer	rate		amount			Value(a)
Dunkin Securitization
Series 2006-1 Class A2 (AMBAC)
06-20-31		5.779		1,600,000	(d,l)		1,562,624
El Paso Corp.
Senior Unsecured
12-12-13		12.000		405,000			486,000
Embarq Corp.
Senior Unsecured
06-01-36		7.995		920,000			942,034
Entravision Communications Corp.
Senior Secured
08-01-17		8.750		300,000	(d)		302,250
ERAC USA Finance LLC
10-15-37		7.000		905,000	(d)		1,001,485
Esterline Technologies Corp.
Senior Notes
08-01-20		7.000		15,000	(d,g)		15,113
Federal Home Loan Mortgage Corp. #A11799
08-01-33		6.500		131,626	(f)		146,024
Federal Home Loan Mortgage Corp. #A15881
11-01-33		5.000		911,326	(f)		986,033
Federal Home Loan Mortgage Corp. #E91486
09-01-17		6.500		91,863	(f)		100,269
Federal Home Loan Mortgage Corp. #E99684
10-01-18		5.000		371,343	(f)		401,045
Federal Home Loan Mortgage Corp. #G01960
12-01-35		5.000		2,174,267	(f)		2,322,928
Federal National Mortgage Association
10-15-14		4.625		3,130,000			3,525,012
Federal National Mortgage Association #545874
08-01-32		6.500		136,531	(f)		154,355
Federal National Mortgage Association #555528
04-01-33		6.000		590,847	(f)		652,708
Federal National Mortgage Association #555734
07-01-23		5.000		592,980	(f)		637,364
Federal National Mortgage Association #555740
08-01-18		4.500		771,760	(f)		826,326
Federal National Mortgage Association #555851
01-01-33		6.500		691,303	(f)		772,431
Federal National Mortgage Association #575487
04-01-17		6.500		276,724	(f)		300,759
Federal National Mortgage Association #621581
12-01-31		6.500		178,444	(f)		200,468
Federal National Mortgage Association #633966
03-01-17		6.000		62,772	(f)		68,360
Federal National Mortgage Association #634749
03-01-17		5.500		373,183	(f)		405,887
Federal National Mortgage Association #640996
05-01-32		7.500		240,166	(f)		274,905
Federal National Mortgage Association #643381
06-01-17		6.000		163,177	(f)		177,705
Federal National Mortgage Association #645053
05-01-32		7.000		424,650	(f)		482,734
Federal National Mortgage Association #646147
06-01-32		7.000		259,967	(f)		298,423


	Coupon		Principal
Issuer	rate		amount			Value(a)
Federal National Mortgage Association #652284
08-01-32		6.500		201,691	(f)		225,360
Federal National Mortgage Association #653145
07-01-17		6.000		124,713	(f)		135,841
Federal National Mortgage Association #653730
09-01-32		6.500		140,161	(f)		158,471
Federal National Mortgage Association #655589
08-01-32		6.500		967,457	(f)		1,083,496
Federal National Mortgage Association #666424
08-01-32		6.500		151,445	(f)		169,217
Federal National Mortgage Association #670461
11-01-32		7.500		140,880	(f)		161,258
Federal National Mortgage Association #677333
01-01-33		6.000		2,829,756	(f)		3,126,028
Federal National Mortgage Association #688034
03-01-33		5.500		317,479	(f)		347,460
Federal National Mortgage Association #688691
03-01-33		5.500		489,184	(f)		529,605
Federal National Mortgage Association #711503
06-01-33		5.500		671,128	(f)		729,098
Federal National Mortgage Association #720576
06-01-33		5.000		1,630,576	(f)		1,745,630
Federal National Mortgage Association #735029
09-01-13		5.321		603,137	(f)		633,064
Federal National Mortgage Association #741850
09-01-33		5.500		1,350,828	(f)		1,462,446
Federal National Mortgage Association #753507
12-01-18		5.000		1,273,332	(f)		1,372,342
Federal National Mortgage Association #755498
11-01-18		5.500		553,300	(f)		600,469
Federal National Mortgage Association #756788
11-01-33		6.500		210,461	(f)		235,265
Federal National Mortgage Association #928019
01-01-37		5.500		1,402,383	(f,k)		1,523,700
Fidelity National Information Services, Inc.
07-15-17		7.625		30,000	(d)		31,200
07-15-20		7.875		20,000	(d)		20,900
Florida Power Corp.
1st Mortgage
06-15-38		6.400		210,000			253,680
04-01-40		5.650		600,000			657,022
Forest Oil Corp.
02-15-14		8.500		320,000			343,200
Frontier Communications Corp.
04-15-20		8.500		158,000	(d)		168,270
Frontier Communications Corp.
Senior Unsecured
04-15-15		7.875		78,000	(d)		82,485
04-15-17		8.250		194,000	(d)		207,580
General Electric Capital Assurance Co.
Series 2003-1 Class A4
05-12-35		5.254		388,708	(d,f)		414,277


	Coupon		Principal
Issuer	rate		amount			Value(a)
General Electric Capital Corp.
Senior Unsecured
01-10-39		6.875		1,520,000			1,713,876
Georgia-Pacific LLC
05-01-16		8.250		230,000	(d)		249,550
Government National Mortgage Association #604708
10-15-33		5.500		664,170	(f)		727,205
Government National Mortgage Association
CMO I.O. Series 2002-80 Class CI
01-20-32		0.000		94,451	(f,e)		1,255
Greenwich Capital Commercial Funding Corp.
Series 2003-C1 Class A3
07-05-35		3.858		725,000	(f)		741,421
Greenwich Capital Commercial Funding Corp.
Series 2004-GG1 Class A5
06-10-36		4.883		500,000	(f)		510,787
Greenwich Capital Commercial Funding Corp.
Series 2007-GG9 Class A4
03-10-39		5.444		2,100,000	(f)		2,155,656
Greif, Inc.
Senior Unsecured
02-01-17		6.750		195,000			199,875
GS Mortgage Securities Corp. II
Series 2007-EOP Class J
03-06-20		1.201		1,250,000	(d,f,i)		1,075,062
GS Mortgage Securities Corp. II
Series 2007-GG10 Class F
08-10-45		6.002		775,000	(f)		99,146
GTP Towers Issuer LLC
02-15-15		4.436		450,000	(d)		479,245
Harborview Mortgage Loan Trust
CMO Series 2004-1 Class 4A
04-19-34		4.757		1,526,704	(f,i)		1,400,985
HCA, Inc.
Secured
02-15-17		9.875		325,000			359,938
HCA, Inc.
Senior Secured
09-15-20		7.250		745,000			787,837
HJ Heinz Finance Co.
07-15-11		6.625		500,000			525,419
Indiana Michigan Power Co.
Senior Unsecured
03-15-37		6.050		85,000			89,924
Invista
05-01-12		9.250		223,000	(d)		225,788
Jarden Corp.
05-01-16		8.000		300,000			315,000
JP Morgan Chase Commercial Mortgage Securities Corp.
Series 2003-LN1 Class A1
10-15-37		4.134		166,319	(f)		172,397
JP Morgan Chase Commercial Mortgage Securities Corp.
Series 2003-ML1A Class A1
03-12-39		3.972		117,216	(f)		120,488


	Coupon		Principal
Issuer	rate		amount			Value(a)
JP Morgan Chase Commercial Mortgage Securities Corp.
Series 2003-ML1A Class A2
03-12-39		4.767		1,200,000	(f)		1,265,862
JP Morgan Chase Commercial Mortgage Securities Corp.
Series 2005-LDP3 Class ASB
08-15-42		4.893		1,166,539	(f)		1,227,295
JPMorgan Chase & Co.
Senior Unsecured
06-24-15		3.400		1,850,000			1,899,524
04-23-19		6.300		880,000			997,963
07-22-20		4.400		615,000			617,513
K Hovnanian Enterprises, Inc.
Senior Secured
10-15-16		10.625		470,000			474,700
Kraft Foods, Inc.
Senior Unsecured
02-19-14		6.750		145,000			167,316
08-11-17		6.500		404,000			473,125
02-01-18		6.125		2,125,000			2,454,137
L-3 Communications Corp.
10-15-15		6.375		531,000			544,274
Lamar Media Corp.
04-01-14		9.750		255,000			284,325
04-15-18		7.875		73,000	(d)		75,555
LBI Escrow Corp.
Senior Secured
11-01-17		8.000		181,000	(d)		189,824
LB-UBS Commercial Mortgage Trust
Series 2004-C2 Class A3
03-15-29		3.973		750,000	(f)		767,018
LB-UBS Commercial Mortgage Trust
Series 2006-C4 Class AAB
06-15-32		6.055		750,000	(f)		822,866
LB-UBS Commercial Mortgage Trust
Series 2007-C7 Class A3
09-15-45		5.866		900,000	(f)		920,866
Lear Corp.
03-15-18		7.875		214,000			221,490
03-15-20		8.125		117,000			121,388
Lehman Brothers Holdings, Inc.
Senior Unsecured
05-02-18		6.875		1,320,000	(b,o)		287,100
Mantech International Corp.
04-15-18		7.250		57,000	(d)		58,283
Mellon Funding Corp.
(GBP)
11-08-11		6.375		370,000			610,203
Merrill Lynch & Co., Inc.
(GBP) Senior Unsubordinated
09-24-10		5.125		221,000			347,653
Metropolitan Life Global Funding I
(GBP) Senior Secured
01-27-11		4.625		540,000			854,112


	Coupon		Principal
Issuer	rate		amount			Value(a)
MGM Resorts International
Senior Secured
11-15-17		11.125		290,000			329,150
Midwest Generation LLC
Pass-Through Certificates
01-02-16		8.560		211,727			208,551
Morgan Stanley Capital I
Series 2004-HQ4 Class A5
04-14-40		4.590		750,000	(f)		755,948
Morgan Stanley Capital I
Series 2006-T23 Class AAB
08-12-41		5.968		575,000	(f)		626,884
Morgan Stanley
(EUR) Senior Unsecured
10-02-17		5.500		625,000			852,270
Morgan Stanley
(GBP) Senior Unsecured
04-11-11		7.500		470,000			755,794
Morgan Stanley
Senior Unsecured
04-01-18		6.625		205,000			222,952
07-24-20		5.500		1,180,000			1,187,308
Mylan, Inc.
07-15-20		7.875		380,000	(d,g)		405,650
Nalco Co.
Senior Notes
05-15-17		8.250		570,000			612,750
National Collegiate Student Loan Trust
CMO I.O. Series 2006-3 Class AIO
01-25-12		5.880		2,400,000	(e)		208,769
Nevada Power Co.
01-15-15		5.875		1,000,000			1,130,091
05-15-18		6.500		365,000			427,946
Nextel Communications, Inc.
08-01-15		7.375		445,000			440,550
Nielsen Finance LLC/Co.
08-01-14		10.000		200,000			208,500
Nisource Finance Corp.
09-15-17		5.250		1,575,000			1,646,981
09-15-20		5.450		970,000			1,002,576
Northern States Power Co.
1st Mortgage
08-28-12		8.000		515,000			588,700
Northwest Pipeline GP
Senior Unsecured
04-15-17		5.950		1,085,000			1,214,320
NRG Energy, Inc.
02-01-16		7.375		1,290,000			1,315,800
Oracle Corp.
Senior Notes
07-15-40		5.375		90,000	(d)		91,971
Oshkosh Corp.
03-01-17		8.250		146,000			152,570
03-01-20		8.500		106,000			111,035


	Coupon		Principal
Issuer	rate		amount			Value(a)
Pacific Gas & Electric Co.
Senior Unsecured
01-15-40		5.400		425,000			447,189
PacifiCorp
1st Mortgage
10-15-37		6.250		200,000			235,950
01-15-39		6.000		440,000	(n)		509,573
Petrohawk Energy Corp.
08-01-14		10.500		480,000			535,200
Phillips-Van Heusen Corp.
Senior Unsecured
05-15-20		7.375		110,000			114,400
Potomac Electric Power Co.
1st Mortgage
04-15-14		4.650		280,000			303,735
PPL Electric Utilities Corp.
1st Mortgage
11-30-13		7.125		2,850,000			3,354,547
Progress Energy, Inc.
Senior Unsecured
03-01-11		7.100		325,000			336,327
03-15-14		6.050		875,000			988,235
Quicksilver Resources, Inc.
08-01-15		8.250		245,000			254,188
QVC, Inc.
Senior Secured
04-15-17		7.125		316,000	(d)		323,900
10-15-20		7.375		316,000	(d)		323,900
Qwest Communications International, Inc.
04-01-18		7.125		370,000	(d)		382,950
Qwest Corp.
Senior Unsecured
10-01-14		7.500		175,000			191,188
Range Resources Corp.
05-15-16		7.500		320,000			333,200
05-15-19		8.000		720,000			772,199
Regal Cinemas Corp.
07-15-19		8.625		200,000			207,000
Regency Energy Partners LP/Finance Corp.
12-15-13		8.375		25,000			26,188
06-01-16		9.375		5,000	(d,n)		5,450
Renaissance Home Equity Loan Trust
Series 2005-4 Class A3
02-25-36		5.565		388,155			366,752
Reynolds Group Issuer, Inc./LLC
Senior Secured
10-15-16		7.750		265,000	(d)		276,262
RR Donnelley & Sons Co.
Senior Unsecured
01-15-17		6.125		2,190,000			2,245,015
Santander Drive Auto Receivables Trust
Series 2007-1 Class A4 (FGIC)
09-15-14		0.391		884,038	(i,l)		878,047


	Coupon		Principal
Issuer	rate		amount			Value(a)
SBA Telecommunications, Inc.
08-15-16		8.000		240,000			258,000
08-15-19		8.250		85,000			93,075
SCANA Corp.
Senior Unsecured
05-15-11		6.875		205,000			214,120
Select Medical Corp.
02-01-15		7.625		587,000			562,052
Sierra Pacific Power Co.
05-15-16		6.000		2,935,000			3,332,736
Southern California Gas Co.
1st Mortgage
03-15-14		5.500		845,000			952,414
Southern Natural Gas Co.
Senior Unsecured
04-01-17		5.900		2,131,000	(d)		2,274,721
Speedway Motorsports, Inc.
06-01-16		8.750		435,000			461,100
Sprint Nextel Corp.
Senior Unsecured
08-15-17		8.375		150,000			156,750
Tampa Electric Co.
Senior Unsecured
05-15-18		6.100		620,000			708,189
TCM Sub LLC
01-15-15		3.550		845,000	(d)		874,193
The Cleveland Electric Illuminating Co.
1st Mortgage
11-15-18		8.875		750,000			968,211
The Dow Chemical Co.
(EUR) Senior Unsecured
05-27-11		4.625		520,000			688,912
The Dow Chemical Co.
Senior Unsecured
05-15-19		8.550		1,400,000			1,748,421
The Goldman Sachs Group, Inc.
(EUR) Senior Unsecured
05-02-18		6.375		350,000			507,014
The Goldman Sachs Group, Inc.
Senior Unsecured
03-15-20		5.375		890,000			916,106
The Manitowoc Co., Inc.
11-01-13		7.125		470,000	(n)		472,350
The Toledo Edison Co.
Senior Secured
05-15-37		6.150		450,000			482,315
Time Warner, Inc.
07-15-40		6.100		85,000			89,765
Transcontinental Gas Pipe Line Co. LLC
Senior Unsecured
04-15-16		6.400		3,590,000			4,194,555
TransDigm, Inc.
07-15-14		7.750		200,000			206,000


	Coupon		Principal
Issuer	rate		amount			Value(a)
tw telecom holdings, inc.
03-01-18		8.000		216,000	(d)		222,480
U.S. Treasury
10-31-11		1.000		670,000			675,156
07-15-12		1.500		2,130,000	(n)		2,171,020
07-31-15		1.750		5,750,000	(g)		5,792,204
06-30-16		3.250		800,000	(n)		856,687
08-15-23		6.250		4,400,000			5,735,127
02-15-40		4.625		2,180,000			2,424,228
05-15-40		4.375		2,060,000			2,201,955
United States Cellular Corp.
Senior Unsecured
12-15-33		6.700		165,000			167,388
United States Steel Corp.
Senior Unsecured
04-01-20		7.375		173,000			172,135
Valmont Industries, Inc.
04-20-20		6.625		632,000			650,879
Verizon New York, Inc.
Senior Unsecured
04-01-12		6.875		2,380,000			2,574,189
04-01-32		7.375		1,255,000			1,444,614
Wachovia Bank Commercial Mortgage Trust
Series 2005-C20 Class A5
07-15-42		5.087		800,000	(f)		819,492
Wachovia Bank Commercial Mortgage Trust
Series 2006-C24 Class APB
03-15-45		5.576		500,000	(f)		524,615
Wachovia Bank Commercial Mortgage Trust
Series 2006-C27 Class APB
07-15-45		5.727		900,000	(f)		951,977
Wells Fargo & Co.
(EUR) Senior Unsecured
11-03-16		4.125		330,000			443,327
Wells Fargo & Co.
(GBP) Senior Unsecured
11-30-10		4.750		1,300,000			2,057,715
Windstream Corp.
08-01-16		8.625		315,000			328,388
03-15-19		7.000		40,000			38,600

Total							179,903,855


Uruguay (0.2%)
Uruguay Government International Bond
11-18-22		8.000		450,000			564,750
Uruguay Government International Bond
Senior Unsecured
03-21-36		7.625		275,000			333,438

Total							898,188


Venezuela (0.4%)
Petroleos de Venezuela SA
04-12-17		5.250		1,190,000			719,950


	Coupon		Principal
Issuer	rate		amount			Value(a)
Venezuela Government International Bond
02-26-16		5.750		620,000	(d)		424,700
Venezuela Government International Bond
Senior Unsecured
10-08-14		8.500		160,000			130,400
05-07-23		9.000		931,000	(d)		633,080

Total							1,908,130

Total Bonds
(Cost: $450,475,851)						$	476,160,633

Senior Loans (0.1%)(j)

Coupon

Principal

Borrower

rate

amount

Value(a)

United States

Fairpoint Communications, Inc.

Tranche B Term Loan

03-31-15

1.750

558,658

(b,o)

365,502

Total Senior Loans

(Cost: $319,170)

365,502

Money Market Fund (2.9%)


	Shares			Value(a)
Columbia Short-Term Cash Fund, 0.279%		14,607,427	(q)	$	14,607,427

Total Money Market Fund (Cost: $14,607,427)				$	14,607,427

Investments of Cash Collateral Received for Securities on Loan (0.6%)

Effective

Principal

Issuer

yield

amount

Value(a)

Repurchase Agreements(p)

UBS Securities LLC
dated 07-30-10, matures 08-02-10,
repurchase price

$3,207,396

0.210

3,207,340

3,207,340

Total Investments of Cash Collateral Received for Securities on Loan
(Cost: $3,207,340)

3,207,340

Total Investments in Securities
(Cost: $468,609,788)(r)

494,340,902

Investments in Derivatives

Futures Contracts Outstanding at July 31, 2010


	Number of							Unrealized
	contracts			Notional			Expiration	appreciation
Contract description	long (short)			market value			date	(depreciation)

Euro-Bobl, 5-year		9		$	1,407,591		Sept. 2010	$	(8,633	)
Euro-Bund, 10-year		(17	)		(2,847,510	)	Sept. 2010		15,490
Japanese Government Bond, 10-year		3			4,925,570		Sept. 2010		4,187
U.S. Treasury Note, 5-year		(137	)		(16,416,454	)	Oct. 2010		(301,253	)
U.S. Treasury Note, 10-year		(17	)		(2,104,812	)	Sept. 2010		(58,244	)
U.S. Treasury Ultra Bond, 30-year		(23	)		(3,110,750	)	Sept. 2010		(69,221	)

Total								$	(417,674	)

Forward Foreign Currency Contracts Open at July 31, 2010


					Unrealized		Unrealized
Exchange date	Currency to be delivered		Currency to be received		appreciation		depreciation

Aug. 12, 2010		2,401,974		31,150,000	$	57,824	$	—
	(USD)		(MXN)

Aug. 13 2010		6,150,000		4,453,295		—		(70,094	)
	(SGD)		(USD)

Aug. 13, 2010		4,865,346		229,620,000		75,223		—
	(USD)		(IDR)

Aug. 20, 2010		4,358,000		5,619,249		—		(59,408	)
	(EUR)		(USD)

Aug. 27, 2010		13,040,309		13,775,000		352,826		—
	(USD)		(CAD)

Aug. 30, 2010		2,037,635		3,660,000		30,249		—
	(USD)		(BRL)

Sept. 2, 2010		17,218,114		1,506,585,000		224,653		—
	(USD)		(JPY)

Sept. 3, 2010		978,010		1,100,000		13,016		—
	(USD)		(AUD)

Sept. 3, 2010		727,150		1,000,000		—		(3,293	)
	(USD)		(NZD)

Sept. 10, 2010		280,000		438,130		—		(1,124	)
	(GBP)		(USD)

Sept. 14, 2010		2,188,000		2,617,068		—		(22,232	)
	(GBP)		(EUR)

Total					$	753,791	$	(156,151	)

Notes to Portfolio of Investments


AUD		— Australian Dollar

BRL		— Brazilian Real

CAD		— Canadian Dollar

CMO		— Collateralized Mortgage Obligation

CZK		— Czech Koruna

DKK		— Danish Krone

EUR		— European Monetary Unit

GBP		— British Pound Sterling

IDR		— Indonesian Rupiah


I.O.		— Interest Only

JPY		— Japanese Yen

MXN		— Mexican Peso

NOK		— Norwegian Krone

NZD		— New Zealand Dollar

PLN		— Polish Zloty

SEK		— Swedish Krona

SGD		— Singapore Dollar

ZAR		— South African Rand

(a) Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated April 30, 2010.

(b) Non-income producing. For long-term debt securities, item identified is in default as to payment of interest and/or principal.

(c) Foreign security values are stated in U.S. dollars. For debt securities, principal amounts are denominated in U.S. dollar currency unless otherwise noted.

(d) Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2010, the value of these securities amounted to $34,306,268 or 6.76% of net assets.

(e) Interest only represents securities that entitle holders to receive only interest payments on the underlying mortgages. The yield to maturity of an interest only security is extremely sensitive to the rate of principal payments on the underlying mortgage assets. A rapid (slow) rate of principal repayments may have an adverse (positive) effect on yield to maturity. The principal amount shown is the notional amount of the underlying mortgages. The interest rate disclosed represents yield based upon the estimated timing and amount of future cash flows at July 31, 2010.

(f) Mortgage-backed securities represent direct or indirect participations in, or are secured by and payable from, mortgage loans secured by real property, and include single- and multi-class pass-through securities and collateralized mortgage obligations. These securities may be issued or guaranteed by U.S. government agencies or instrumentalities, or by private issuers, generally originators and investors in mortgage loans, including savings associations, mortgage bankers, commercial banks, investment bankers and special purpose entities. The maturity dates shown represent the original maturity of the underlying obligation. Actual maturity may vary based upon prepayment activity on these obligations. Unless otherwise noted, the coupon rates presented are fixed rates.

(g) At July 31, 2010, the cost of securities purchased, including interest purchased, on a when-issued and/or other forward-commitment basis was $6,202,179.

(h) This is a variable rate security that entitles holders to receive only interest payments. Interest is paid annually. The interest payment is based on the Gross Domestic Product (GDP) level of the previous year for the respective country. To the extent that the previous year’s GDP exceeds the ‘base case GDP’, an interest payment is made equal to 0.012225 of the difference.

(i) Interest rate varies either based on a predetermined schedule or to reflect current market conditions; rate shown is the effective rate on July 31, 2010.

(j) Senior loans have rates of interest that float periodically based primarily on the London Interbank Offered Rate (“LIBOR”) and other short-term rates. Remaining maturities of senior loans may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty.

(k) At July 31, 2010, investments in securities included securities valued at $521,105 that were partially pledged as collateral to cover initial margin deposits on open interest rate futures contracts.

(l) The following abbreviations are used in the portfolio security descriptions to identify the insurer of the issue:


AGM	—	Assured Guaranty Municipal Corporation

AMBAC	—	Ambac Assurance Corporation

FGIC	—	Financial Guaranty Insurance Company

(m) Inflation-indexed bonds are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.

(n) At July 31, 2010, security was partially or fully on loan.

(o) This position is in bankruptcy.

(p) The table below represents securities received as collateral for repurchase agreements. This collateral, which is generally high quality short-term obligations, is deposited with the Fund’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the repurchase price plus accrued interest at all times. The market value of securities held as collateral for repurchase agreements is monitored on a daily basis to ensure the existence of the proper level of collateral.

UBS Securities LLC (0.210%)


Security description	Value (a)

Fannie Mae Interest Strip	$	728,906
Fannie Mae Principal Strip		139,231
Federal Farm Credit Bank		386,229
Federal Home Loan Mortgage Corp		1,368,537
Freddie Mac Strips		648,593

Total market value of collateral securities	$	3,271,496

(q) Affiliated Money Market Fund – The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at July 31, 2010.

(r) At July 31, 2010, the cost of securities for federal income tax purposes was approximately $468,610,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:


Unrealized appreciation	$	33,783,000
Unrealized depreciation		(8,052,000	)

Net unrealized appreciation	$	25,731,000

Fair Value Measurements

Fair value inputs are summarized in the three broad levels listed below:

	•		Level 1 – Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

	•		Level 2 – Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

	•		Level 3 – Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments).

The following table is a summary of the inputs used to value the Fund’s investments as of July 31, 2010:


	Fair value at July 31, 2010
	Level 1			Level 2
	quoted prices			other		Level 3
	in active			significant		significant
	markets for			observable		unobservable
Description(a)	identical assets			inputs(b)		inputs		Total

Bonds
Foreign Government Obligations & Agencies	$	—		$	262,988,058	$	—	$	262,988,058
U.S. Government Obligations & Agencies		19,856,377			3,525,012		—		23,381,389
Asset-Backed Securities		—			8,199,175		1,883,790		10,082,965
Commercial Mortgage-Backed Securities		—			17,217,472		—		17,217,472
Residential Mortgage-Backed Securities		—			24,943,855		—		24,943,855
Corporate Debt Securities
Life Insurance		—			3,268,014		1,108,346		4,376,360
All Other Industries		—			133,170,534		—		133,170,534

Total Bonds		19,856,377			453,312,120		2,992,136		476,160,633


Other
Senior Loans		—			365,502		—		365,502
Affiliated Money Market Fund(c)		14,607,427			—		—		14,607,427
Investments of Cash Collateral Received for Securities on Loan		—			3,207,340		—		3,207,340

Total Other		14,607,427			3,572,842		—		18,180,269


Investments in Securities		34,463,804			456,884,962		2,992,136		494,340,902
Other Financial Instruments(d)		(417,674	)		597,640		—		179,966


Total	$	34,046,130		$	457,482,602	$	2,992,136	$	494,520,868


(a)		See the Portfolio of Investments for all investment classifications not indicated in the table.

(b)		There were no significant transfers between Levels 1 and 2 during the period.

(c)		Money market fund that is a sweep investment for cash balances in the Fund at July 31, 2010.

(d)		Other Financial Instruments are derivative instruments, which are valued at the unrealized appreciation (depreciation) on the instrument. Derivative descriptions are located in the Investments in Derivatives section of the Portfolio of Investments.

The following table is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value.


	Asset-Backed			Corporate Debt
	Securities			Securities		Total

Balance as of Oct. 31, 2009	$	2,060,678		$	—	$	2,060,678
Accrued discounts/premiums		381			19,749		20,130
Realized gain (loss)		19,846			—		19,846
Change in unrealized appreciation (depreciation)*		(217,503	)		41,201		(176,302	)
Net purchases (sales)		20,388			1,047,396		1,067,784
Transfers in and/or out of Level 3		—			—		—

Balance as of July 31, 2010	$	1,883,790		$	1,108,346	$	2,992,136


*		Change in unrealized appreciation (depreciation) relating to securities held at July 31, 2010 was $(176,302), which is comprised of Asset-Backed Securities of $(217,503) and Corporate Debt Securities $41,201.

Transfers in and/or out of Level 3 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

Portfolio of Investments
Columbia Emerging Markets Opportunity Fund
(formerly known as Threadneedle Emerging Markets Fund)
July 31, 2010 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Common Stocks (98.8%)(c)


Issuer	Shares			Value(a)
Brazil (22.6%)
Anhanguera Educacional Participacoes SA Unit		524,700		$	8,207,298
Banco Santander Brasil SA, ADR		688,099			9,165,479
BM&FBovespa SA		597,100			4,415,164
Cyrela Brazil Realty SA Empreendimentos e Participacoes		561,000			7,859,296
Itaú Unibanco Holding SA		314,600			7,044,993
Itaú Unibanco Holding SA, ADR		1,068,780			23,929,985
Localiza Rent A Car SA		424,903			5,860,814
Lojas Renner SA		803,500			26,973,761
MRV Engenharia e Participacoes SA		469,400			4,231,836
OGX Petroleo e Gas Participacoes SA		992,400	(b)		10,454,040
Petroleo Brasileiro SA, ADR		483,444			17,597,362
Vale SA, ADR		676,756			18,813,816

Total					144,553,844


China (9.8%)
Bank of China Ltd., Series H		12,124,000	(f)		6,399,784
China Construction Bank Corp., Series H		9,034,000			7,664,803
China Life Insurance Co., Ltd., Series H		1,679,000	(f)		7,457,706
China Merchants Bank Co., Ltd., Series H		2,619,500	(f)		6,997,969
China Petroleum & Chemical Corp., Series H		2,994,000	(f)		2,413,024
China Shenhua Energy Co., Ltd., Series H		664,000			2,556,082
CNOOC Ltd., ADR		39,726			6,690,653
Industrial & Commercial Bank of China, Series H		11,936,000	(f)		9,112,741
PetroChina Co., Ltd., Series H		4,178,000			4,738,925
Tencent Holdings Ltd.		195,100	(f)		3,760,231
Tingyi Cayman Islands Holding Corp.		1,260,000	(f)		3,195,746
ZTE Corp., Series H		699,899	(f)		2,239,223

Total					63,226,887


Egypt (0.5%)
Orascom Construction Industries, GDR		68,351	(d)		2,904,918

Hong Kong (1.8%)
China Overseas Land & Investment Ltd.		2,859,797			6,126,664
Hengan International Group Co., Ltd.		601,000			5,176,499

Total					11,303,163


Hungary (1.6%)
OTP Bank PLC		424,740	(b,f)		10,216,946

India (6.5%)
Bharat Heavy Electricals Ltd.		120,394			6,325,274
Cairn India Ltd.		531,574	(b)		3,830,220
Housing Development Finance Corp.		111,628			7,169,427
Infosys Technologies Ltd.		123,307			7,409,714
Larsen & Toubro Ltd.		81,972			3,169,708
Reliance Industries Ltd.		278,120			6,051,481


Issuer	Shares			Value(a)
State Bank of India		139,145			7,505,329

Total					41,461,153


Indonesia (2.7%)
Astra International Tbk PT		1,026,500			5,818,172
Bank Central Asia Tbk PT		5,920,000			3,937,842
Perusahaan Gas Negara PT		6,983,500			3,161,898
Semen Gresik Persero Tbk PT		4,327,000			4,474,539

Total					17,392,451


Israel (0.7%)
Israel Chemicals Ltd.		341,335			4,214,789

Luxembourg (1.8%)
Evraz Group SA, GDR		208,184	(b,d)		5,548,104
Ternium SA, ADR		166,188			5,941,221

Total					11,489,325


Mexico (6.5%)
America Movil SAB de CV, Series L, ADR		239,714			11,892,212
Bolsa Mexicana de Valores SAB de CV		3,917,900	(f)		6,706,028
Grupo Financiero Banorte SAB de CV, Series O		1,371,600			5,328,644
Grupo Mexico SAB de CV, Series B		1,634,000			4,331,514
Grupo Modelo SAB de CV, Series C		1,475,700			7,980,099
Wal-Mart de Mexico SAB de CV, Series V		2,091,500	(f)		4,927,518

Total					41,166,015


Netherlands (1.1%)
VimpelCom Ltd., ADR		419,611	(b)		6,843,855

Panama (1.7%)
Copa Holdings SA, Class A		209,188			10,804,560

Poland (1.1%)
Bank Pekao SA		77,818			4,154,653
Powszechna Kasa Oszczednosci Bank Polski SA		232,618			2,970,333

Total					7,124,986


Russia (8.8%)
CTC Media, Inc.		276,667			4,988,306
Eurasia Drilling Co., Ltd., GDR		236,717	(d)		4,852,699
LSR Group, GDR		347,584	(b,d)		3,163,014
Lukoil OAO, ADR		22,565			1,286,205
Mechel, ADR		105,998			2,308,636
MMC Norilsk Nickel, ADR		437,702			7,152,052
Novolipetsk Steel OJSC, GDR		97,594	(d)		3,034,197
OGK-3 OJSC		42,431,742	(b)		2,395,569
Sberbank of Russian Federation		5,984,466			16,756,505
X5 Retail Group NV, GDR		266,764	(b,d,f)		9,982,309

Total					55,919,492


South Africa (7.5%)
Impala Platinum Holdings Ltd.		153,997			4,175,297
Kumba Iron Ore Ltd.		66,280			3,366,777
Massmart Holdings Ltd.		243,748			4,281,318
MTN Group Ltd.		397,718			6,385,656
Murray & Roberts Holdings Ltd.		917,177			5,291,017
Naspers Ltd., Series N		122,386			5,225,432


Issuer	Shares			Value(a)
Shoprite Holdings Ltd.		369,891			4,641,411
Standard Bank Group Ltd.		633,681			9,874,079
Truworths International Ltd.		529,442			4,238,298

Total					47,479,285


South Korea (9.7%)
Hyundai Engineering & Construction Co., Ltd.		51,219			2,737,224
Hyundai Mobis		23,801			4,115,766
Hyundai Motor Co.		39,430			4,967,927
KB Financial Group, Inc.		70,791			3,082,815
LG Display Co., Ltd.		89,300			2,741,071
LG Electronics, Inc.		19,564			1,662,593
LG Household & Health Care Ltd.		26,990			8,501,416
POSCO		15,221			6,332,430
Samsung Electronics Co., Ltd.		27,660			18,087,111
Samsung Heavy Industries Co., Ltd.		156,960			3,278,295
Shinhan Financial Group Co., Ltd.		165,970			6,806,650

Total					62,313,298


Taiwan (9.6%)
Acer, Inc.		2,165,163			5,810,973
Cathay Financial Holding Co., Ltd.		1,714,000			2,702,168
Delta Electronics, Inc.		2,458,000			8,496,012
Hon Hai Precision Industry Co., Ltd.		2,190,283	(b)		8,838,140
MediaTek, Inc.		281,551			3,817,835
Siliconware Precision Industries Co.		2,670,000			2,605,774
Synnex Technology International Corp.		1,654,400			3,777,760
Taiwan Semiconductor Manufacturing Co., Ltd.		4,397,858			8,584,139
Taiwan Semiconductor Manufacturing Co., Ltd., ADR		271,783			2,745,008
Tripod Technology Corp.		1,936,766			7,391,080
U-Ming Marine Transport Corp.		1,770,000			3,355,188
Yuanta Financial Holding Co., Ltd.		5,137,000			2,876,296

Total					61,000,373


Thailand (1.8%)
Bangkok Bank PCL		1,866,375			7,953,799
Siam Commercial Bank PCL		1,262,600			3,508,317

Total					11,462,116


Turkey (1.2%)
BIM Birlesik Magazalar AS		134,136			4,119,109
KOC Holding AS		832,948			3,290,645

Total					7,409,754


United Kingdom (0.8%)
Antofagasta PLC		323,333			5,011,900

United States (1.0%)
Southern Copper Corp.		198,071			6,221,410


Total Common Stocks (Cost: $531,608,872)				$	629,520,520

Warrants (—%)


Issuer	Shares			Value(a)
Singapore
Golden Agri-Resources Ltd.		1	(b,e)	$	—

Total Warrants (Cost: $—)				$	—

Money Market Fund (0.8%)


	Shares			Value(a)
Columbia Short-Term Cash Fund, 0.279%		4,833,379	(g)	$	4,833,379

Total Money Market Fund (Cost: $4,833,379)				$	4,833,379

Investments of Cash Collateral Received for Securities on Loan (6.1%)


	Effective			Principal
Issuer	yield			amount		Value(a)
Repurchase Agreements(h)
Cantor Fitzgerald & Co. dated 07-30-10, matures 08-02-10, repurchase price $12,000,230		0.230	%	$	12,000,000	$	12,000,000
Citigroup Global Markets, Inc. dated 07-30-10, matures 08-02-10, repurchase price $5,000,092		0.220			5,000,000		5,000,000
Mizuho Securities USA, Inc. dated 07-30-10, matures 08-02-10, repurchase price $5,000,100		0.240			5,000,000		5,000,000
Pershing LLC dated 07-30-10, matures 08-02-10, repurchase price $10,000,258		0.310			10,000,000		10,000,000
UBS Securities LLC dated 07-30-10, matures 08-02-10, repurchase price $6,564,952		0.210			6,564,837		6,564,837

Total							38,564,837

Total Investments of Cash Collateral Received for Securities on Loan (Cost: $38,564,837)						$	38,564,837

Total Investments in Securities (Cost: $575,007,088)(i)						$	672,918,736

Summary of Investments in Securities by Industry

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of net assets at July 31, 2010:


	Percentage of net
Industry	assets			Value(a)

Airlines		1.7	%	$	10,804,560
Auto Components		0.6			4,115,766
Automobiles		1.7			10,786,099
Beverages		1.3			7,980,099
Capital Markets		0.5			2,876,296
Chemicals		0.7			4,214,789
Commercial Banks		23.9			152,411,666
Communications Equipment		0.4			2,239,223
Computers & Peripherals		0.9			5,810,973
Construction & Engineering		2.2			14,102,867
Construction Materials		1.2			7,637,553
Diversified Consumer Services		1.3			8,207,298
Diversified Financial Services		1.8			11,121,192
Electric Utilities		0.4			2,395,569
Electrical Equipment		1.0			6,325,274
Electronic Equipment, Instruments & Components		4.9			31,244,063
Energy Equipment & Services		0.8			4,852,699
Food & Staples Retailing		4.4			27,951,665
Food Products		0.5			3,195,746
Gas Utilities		0.5			3,161,898
Household Durables		2.2			13,753,725
Household Products		1.3			8,501,416
Industrial Conglomerates		0.5			3,290,645
Insurance		1.6			10,159,874
Internet Software & Services		0.6			3,760,231
IT Services		1.2			7,409,714
Machinery		0.5			3,278,295
Marine		0.5			3,355,188
Media		1.6			10,213,738
Metals & Mining		11.3			72,237,354
Multiline Retail		4.2			26,973,761
Oil, Gas & Consumable Fuels		8.7			55,617,992
Personal Products		0.8			5,176,499
Real Estate Management & Development		1.0			6,126,664
Road & Rail		0.9			5,860,814
Semiconductors & Semiconductor Equipment		5.6			35,839,867
Specialty Retail		0.7			4,238,298
Thrifts & Mortgage Finance		1.1			7,169,427
Wireless Telecommunication Services		3.9			25,121,723
Other(1)		6.8			43,398,216


Total				$	672,918,736


(1)		Cash & Cash Equivalents.

The industries identified above are based on the Global Industry Classification Standard (GICS), which was developed by, and is the exclusive property of, Morgan Stanley Capital International Inc. and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.

Notes to Portfolio of Investments

ADR — American Depositary Receipt

GDR — Global Depositary Receipt

(a)		Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated April 30, 2010.

(b)		Non-income producing.

(c)		Foreign security values are stated in U.S. dollars.


(d)		Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2010, the value of these securities amounted to $29,485,241 or 4.63% of net assets.

(e)		Negligible market value.

(f)		At July 31, 2010, security was partially or fully on loan.

(g)		Affiliated Money Market Fund — The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at July 31, 2010.

(h)		The table below represents securities received as collateral for repurchase agreements. This collateral, which is generally high quality short-term obligations, is deposited with the Fund’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the repurchase price plus accrued interest at all times. The market value of securities held as collateral for repurchase agreements is monitored on a daily basis to ensure the existence of the proper level of collateral.

Cantor Fitzgerald & Co. (0.230%)


Security description	Value (a)

Fannie Mae Discount Notes	$	272
Fannie Mae Grantor Trust		2,468
Fannie Mae Interest Strip		135,719
Fannie Mae Pool		1,266,962
Fannie Mae Principal Strip		11,549
Fannie Mae REMICS		1,006,616
Fannie Mae Whole Loan		161
Federal Farm Credit Bank		259,099
Federal Home Loan Bank Discount Notes		266,427
Federal Home Loan Banks		1,927,656
Federal Home Loan Mortgage Corp		165,416
Federal National Mortgage Association		439,112
FHLMC Structured Pass Through Securities		374,756
Freddie Mac Coupon Strips		874
Freddie Mac Discount Notes		63,974
Freddie Mac Non Gold Pool		556,824
Freddie Mac Reference REMIC		9,649
Freddie Mac REMICS		604,518
Freddie Mac Strips		81,021
Ginnie Mae I Pool		803,568
Ginnie Mae II Pool		710,745
Government National Mortgage Association		239,007
United States Treasury Bill		2,577,948
United States Treasury Inflation Indexed Bonds		102,788
United States Treasury Strip Coupon		599,558
United States Treasury Strip Principal		33,313

Total market value of collateral securities	$	12,240,000

Citigroup Global Markets, Inc. (0.220%)


Security description	Value (a)

Fannie Mae REMICS	$	1,795,841
Freddie Mac Reference REMIC		172,564
Freddie Mac REMICS		2,421,016
Government National Mortgage Association		710,579

Total market value of collateral securities	$	5,100,000

Mizuho Securities USA, Inc. (0.240%)


Security description	Value (a)

Fannie Mae Pool	$	1,817,879
Fannie Mae REMICS		1,256,032
Freddie Mac Gold Pool		661,756
Freddie Mac Non Gold Pool		27,902
Freddie Mac REMICS		836,003
Ginnie Mae I Pool		499,964
Ginnie Mae II Pool		464

Total market value of collateral securities	$	5,100,000

Pershing LLC (0.310%)


Security description	Value (a)

Fannie Mae Benchmark REMIC	$	25,960
Fannie Mae Pool		4,119,198
Fannie Mae REMICS		389,047
Federal Farm Credit Bank		35,065
Federal Home Loan Banks		106,331
Federal Home Loan Mortgage Corp		6,910
Federal National Mortgage Association		676
Freddie Mac Gold Pool		1,107,809
Freddie Mac Non Gold Pool		123,773
Freddie Mac REMICS		359,131
Ginnie Mae I Pool		224,395
Ginnie Mae II Pool		451,253
Government National Mortgage Association		116,902
United States Treasury Inflation Indexed Bonds		205,535
United States Treasury Note/Bond		2,127,850
United States Treasury Strip Coupon		291,735
United States Treasury Strip Principal		508,430

Total market value of collateral securities	$	10,200,000

UBS Securities LLC (0.210%)


Security description	Value (a)

Fannie Mae Interest Strip	$	1,491,936
Fannie Mae Principal Strip		284,981
Federal Farm Credit Bank		790,539
Federal Home Loan Mortgage Corp		2,801,144
Freddie Mac Strips		1,327,552

Total market value of collateral securities	$	6,696,152

(i)

At July 31, 2010, the cost of securities for federal income tax purposes was approximately $575,007,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:


Unrealized appreciation	$	113,189,000
Unrealized depreciation		(15,277,000	)

Net unrealized appreciation	$	97,912,000

Fair Value Measurements

Fair value inputs are summarized in the three broad levels listed below:

	•		Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

	•		Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

	•		Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments).

Non-U.S. equity securities actively traded in foreign markets may be reflected in Level 2 despite the availability of closing prices, because the Fund evaluates and determines whether those closing prices reflect fair value at the close of the New York Stock Exchange (NYSE) or require adjustment, as described in Note 2 to the financial statements — Valuation of securities in the most recent Semiannual Report dated April 30, 2010.

The following table is a summary of the inputs used to value the Fund’s investments as of July 31, 2010:


	Fair value at July 31, 2010
	Level 1		Level 2
	quoted prices		other		Level 3
	in active		significant		significant
	markets for		observable		unobservable
Description(a)	identical assets(b)		inputs		inputs		Total

Equity Securities
Common Stocks
Electric Utilities	$	—	$	2,395,569	$	—		2,395,569
All Other Industries		627,124,951		—		—		627,124,951

Total Equity Securities		627,124,951		2,395,569		—		629,520,520


Other
Affiliated Money Market Fund(c)		4,833,379		—		—		4,833,379
Investments of Cash Collateral Received for Securities on Loan		—		38,564,837		—		38,564,837

Total Other		4,833,379		38,564,837		—		43,398,216


Total	$	631,958,330	$	40,960,406	$	—	$	672,918,736


(a)		See the Portfolio of Investments for all investment classifications not indicated in the table.

(b)		Includes certain securities trading outside the U.S. whose values were adjusted at Oct. 31, 2009 as a result of significant market movements following the close of local trading, and were classified as Level 2. These values were not adjusted as of July 31, 2010. Therefore, these investment securities were classified as Level 1 instead of Level 2 at July 31, 2010. The amount of securities transferred out of Level 2 into Level 1 during the period was $285,601,515. Transfers between Levels 1 and 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

(c)		Money market fund that is a sweep investment for cash balances in the Fund at July 31, 2010.

Portfolio of Investments
Columbia Global Equity Fund
(formerly known as Threadneedle Global Equity Fund)
July 31, 2010 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Common Stocks (99.3%)(c)


Issuer	Shares			Value(a)
Australia (1.0%)
Atlas Iron Ltd.		567,790	(b,e)	$	1,032,268
CSL Ltd.		103,047	(e)		3,088,848

Total					4,121,116


Belgium (0.6%)
Ageas		869,347			2,393,519

Brazil (2.7%)
Banco Santander Brasil SA, ADR		192,000			2,557,440
MRV Engenharia e Participacoes SA		258,700			2,332,288
Multiplan Empreendimentos Imobiliarios SA		155,400			2,943,416
Natura Cosmeticos SA		148,300			3,880,212

Total					11,713,356


Canada (0.5%)
Barrick Gold Corp.		52,058			2,139,584

China (1.5%)
AsiaInfo-Linkage, Inc.		167,312	(b)		3,413,165
Focus Media Holding Ltd., ADR		165,565	(b)		3,001,693

Total					6,414,858


Denmark (1.0%)
FLSmidth & Co. A/S		61,886	(e)		4,408,368

Finland (0.5%)
Talvivaara Mining Co. PLC		350,596	(b,e)		2,238,705

France (2.8%)
Cie Generale des Etablissements Michelin, Series B		54,212			4,129,510
Euler Hermes SA		42,895	(b,e)		3,401,038
Renault SA		103,610	(b)		4,621,854

Total					12,152,402


Germany (2.0%)
Linde AG		44,018			5,159,121
MTU Aero Engines Holding AG		58,051			3,370,537

Total					8,529,658


Hong Kong (4.1%)
Champion REIT		3,714,770			1,817,402
China High Speed Transmission Equipment Group Co., Ltd.		1,426,000			3,260,604
Great Eagle Holdings Ltd.		1,427,377			3,712,151
Sun Hung Kai Properties Ltd.		423,000			6,213,860


Issuer	Shares			Value(a)
The Hongkong & Shanghai Hotels		1,603,500	(e)		2,543,403

Total					17,547,420


India (1.5%)
State Bank of India, GDR		58,445	(d)		6,282,838

Indonesia (2.4%)
Bank Mandiri Tbk PT		5,877,500			3,942,427
Bank Rakyat Indonesia		2,679,500			2,965,573
Perusahaan Gas Negara PT		7,564,500			3,424,955

Total					10,332,955


Ireland (0.7%)
Accenture PLC, Class A		71,348			2,828,235

Italy (0.8%)
Prysmian SpA		201,423			3,406,653

Japan (8.4%)
Asahi Breweries Ltd.		309,600			5,486,718
Canon, Inc.		136,700			5,957,582
Hoya Corp.		228,000			5,426,184
Makita Corp.		121,900			3,521,963
Mitsubishi Estate Co., Ltd.		181,000			2,551,893
Nippon Electric Glass Co., Ltd.		287,000			3,657,680
Osaka Securities Exchange Co., Ltd.		309			1,538,025
Ushio, Inc.		164,700	(e)		2,798,699
Yamada Denki Co., Ltd.		69,350			4,688,089

Total					35,626,833


Mexico (0.8%)
America Movil SAB de CV, Series L, ADR		71,495			3,546,867

Netherlands (1.9%)
Fugro NV		79,623			4,203,380
ING Groep NV		426,805	(b)		4,104,215

Total					8,307,595


Panama (0.7%)
Copa Holdings SA, Class A		58,793			3,036,658

Poland (0.8%)
KGHM Polska Miedz SA		94,285			3,277,048

Portugal (0.8%)
Galp Energia SGPS SA, Series B		200,999			3,286,865

Singapore (0.7%)
DBS Group Holdings Ltd.		267,000			2,828,099

South Africa (1.0%)
MTN Group Ltd.		253,973			4,077,724

South Korea (3.0%)
KB Financial Group, Inc.		54,668			2,380,688
NHN Corp.		21,850	(b)		3,399,628


Issuer	Shares			Value(a)
Samsung Electronics Co., Ltd.		10,520			7,205,480

Total					12,985,796


Switzerland (6.1%)
Credit Suisse Group AG		86,723			3,950,206
Nestlé SA		77,866			3,850,311
Novartis AG		85,190			4,134,762
Roche Holding AG		20,952			2,725,872
The Swatch Group AG		17,839			5,525,551
Tyco Electronics Ltd.		109,389			2,953,503
Xstrata PLC		193,970			3,090,366

Total					26,230,571


Taiwan (1.1%)
Hon Hai Precision Industry Co., Ltd.		549,000	(b)		2,215,302
Taiwan Semiconductor Manufacturing Co., Ltd.		1,299,000			2,535,506

Total					4,750,808


United Kingdom (14.1%)
3i Group PLC		616,624			2,748,445
Aggreko PLC		125,521			3,016,967
Autonomy Corp. PLC		82,934	(b)		2,140,395
BG Group PLC		233,327			3,739,373
Burberry Group PLC		433,441			5,722,418
Centamin Egypt Ltd.		1,309,391	(b)		3,081,456
Chemring Group PLC		52,677			2,386,787
Ensco PLC, ADR		58,241			2,435,056
HSBC Holdings PLC		369,845			3,748,415
Intercontinental Hotels Group PLC		176,450			3,053,463
International Power PLC		372,387			2,091,573
Rio Tinto PLC		121,548			6,301,574
Tesco PLC		289,451			1,774,019
The Weir Group PLC		252,770			4,651,778
Tullow Oil PLC		341,718			6,599,656
Ultra Electronics Holdings PLC		102,772			2,602,399
Vodafone Group PLC		1,743,974			4,069,981

Total					60,163,755


United States (37.8%)
Aetna, Inc.		78,635			2,189,985
American Tower Corp., Class A		76,195	(b)		3,523,257
Apple, Inc.		34,727	(b)		8,933,520
Bank of America Corp.		300,000			4,212,000
Cisco Systems, Inc.		206,560	(b)		4,765,339
Citigroup, Inc.		1,219,063	(b)		4,998,158
Cliffs Natural Resources, Inc.		49,814			2,817,978
Cloud Peak Energy, Inc.		219,719	(b)		3,372,687
Dell, Inc.		307,465	(b)		4,070,837
Devon Energy Corp.		58,807			3,674,850
Flowserve Corp.		42,954			4,259,319
Gilead Sciences, Inc.		86,725	(b)		2,889,677
Google, Inc., Class A		11,154	(b)		5,408,017
Hartford Financial Services Group, Inc.		177,637			4,158,482
Henry Schein, Inc.		90,000	(b)		4,724,100
Hewlett-Packard Co.		94,353			4,344,012
IBM Corp.		70,854			9,097,653
Johnson & Johnson		73,876			4,291,457
JPMorgan Chase & Co.		183,719			7,400,202
Laboratory Corp. of America Holdings		70,046	(b)		5,111,957
Lowe’s Companies, Inc.		230,637			4,783,411


Issuer	Shares			Value(a)
Merck & Co., Inc.		84,740			2,920,140
Micron Technology, Inc.		250,869	(b)		1,826,326
Microsoft Corp.		153,747			3,968,210
Norfolk Southern Corp.		105,172			5,918,029
Oracle Corp.		176,247			4,166,479
QUALCOMM, Inc.		80,683			3,072,409
Republic Services, Inc.		112,631			3,588,424
Sirona Dental Systems, Inc.		136,327	(b)		4,196,145
The Walt Disney Co.		191,472			6,450,692
Thermo Fisher Scientific, Inc.		98,731	(b)		4,429,073
Tiffany & Co.		135,177			5,686,897
Ultra Petroleum Corp.		43,058	(b)		1,824,367
Union Pacific Corp.		35,930			2,682,893
Walgreen Co.		75,415			2,153,098
Wal-Mart Stores, Inc.		110,121			5,637,094
WESCO International, Inc.		98,352	(b)		3,533,787

Total					161,080,961

Total Common Stocks (Cost: $392,637,213)				$	423,709,247

Investments of Cash Collateral Received for Securities on Loan (1.9%)


	Effective			Principal
Issuer	yield			amount		Value(a)
Repurchase Agreements(f)
Mizuho Securities USA, Inc. dated 07-30-10, matures 08-02-10, repurchase price $3,000,060		0.240	%	$	3,000,000	$	3,000,000
UBS Securities LLC dated 07-30-10, matures 08-02-10, repurchase price $5,124,209		0.210			5,124,119		5,124,119

Total							8,124,119

Total Investments of Cash Collateral Received for Securities on Loan (Cost: $8,124,119)						$	8,124,119

Total Investments in Securities (Cost: $400,761,332)(g)						$	431,833,366

Summary of Investments in Securities by Industry

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of net assets at July 31, 2010:


	Percentage of net
Industry	assets			Value(a)

Aerospace & Defense		2.0	%	$	8,359,723
Airlines		0.7			3,036,658
Auto Components		1.0			4,129,510
Automobiles		1.1			4,621,854
Beverages		1.3			5,486,718
Biotechnology		1.4			5,978,525
Capital Markets		1.6			6,698,651
Chemicals		1.2			5,159,121
Commercial Banks		5.9			24,705,480
Commercial Services & Supplies		1.5			6,605,391
Communications Equipment		1.8			7,837,748
Computers & Peripherals		4.1			17,348,369
Construction & Engineering		1.0			4,408,368
Diversified Financial Services		5.2			22,252,600
Electrical Equipment		2.2			9,465,956
Electronic Equipment, Instruments & Components		3.3			14,252,669
Energy Equipment & Services		1.6			6,638,436
Food & Staples Retailing		2.2			9,564,211
Food Products		0.9			3,850,311
Gas Utilities		0.8			3,424,955
Health Care Equipment & Supplies		1.0			4,196,145
Health Care Providers & Services		2.8			12,026,042
Hotels, Restaurants & Leisure		1.3			5,596,866
Household Durables		0.5			2,332,288
Independent Power Producers & Energy Traders		0.5			2,091,573
Insurance		2.3			9,953,039
Internet Software & Services		2.1			8,807,645
IT Services		2.8			11,925,888
Life Sciences Tools & Services		1.0			4,429,073
Machinery		2.9			12,433,060
Media		2.2			9,452,385
Metals & Mining		5.7			23,978,979
Office Electronics		1.4			5,957,582
Oil, Gas & Consumable Fuels		5.3			22,497,798
Personal Products		0.9			3,880,212
Pharmaceuticals		3.3			14,072,231
Real Estate Investment Trusts (REITs)		0.4			1,817,402
Real Estate Management & Development		3.6			15,421,320
Road & Rail		2.0			8,600,922
Semiconductors & Semiconductor Equipment		2.7			11,567,312
Software		3.2			13,688,249
Specialty Retail		3.6			15,158,397
Textiles, Apparel & Luxury Goods		2.6			11,247,969
Trading Companies & Distributors		0.8			3,533,787
Wireless Telecommunication Services		3.6			15,217,829
Other(1)		1.9			8,124,119


Total				$	431,833,366


(1)		Cash & Cash Equivalents.

Notes to Portfolio of Investments

ADR — American Depositary Receipt

GDR — Global Depositary Receipt

(a)		Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated April 30, 2010.

(b)		Non-income producing.

(c)		Foreign security values are stated in U.S. dollars.

(d)		Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2010, the value of these securities amounted to $6,282,838 or 1.47% of net assets.

(e)		At July 31, 2010, security was partially or fully on loan.

(f)		The table below represents securities received as collateral for repurchase agreements. This collateral, which is generally high quality short-term obligations, is deposited with the Fund’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the repurchase price plus accrued interest at all times. The market value of securities held as collateral for repurchase agreements is monitored on a daily basis to ensure the existence of the proper level of collateral.

Mizuho Securities USA, Inc. (0.240%)


Security description	Value (a)

Fannie Mae Pool	$	1,090,728
Fannie Mae REMICS		753,620
Freddie Mac Gold Pool		397,053
Freddie Mac Non Gold Pool		16,741
Freddie Mac REMICS		501,602
Ginnie Mae I Pool		299,978
Ginnie Mae II Pool		278

Total market value of collateral securities	$	3,060,000

UBS Securities LLC (0.210%)


Security description	Value (a)

Fannie Mae Interest Strip	$	1,164,516
Fannie Mae Principal Strip		222,439
Federal Farm Credit Bank		617,048
Federal Home Loan Mortgage Corp		2,186,406
Freddie Mac Strips		1,036,207

Total market value of collateral securities	$	5,226,616

(g)

At July 31, 2010, the cost of securities for federal income tax purposes was approximately $400,761,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:


Unrealized appreciation	$	46,754,000
Unrealized depreciation		(15,682,000	)

Net unrealized appreciation	$	31,072,000

Fair Value Measurements

Fair value inputs are summarized in the three broad levels listed below:

	•		Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

	•		Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

	•		Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments).

The following table is a summary of the inputs used to value the Fund’s investments as of July 31, 2010:


	Fair value at July 31, 2010
	Level 1		Level 2
	quoted prices		other		Level 3
	in active		significant		significant
	markets for		observable		unobservable
Description(a)	identical assets(b)		inputs		inputs		Total

Equity Securities
Common Stocks	$	423,709,247	$	—	$	—	$	423,709,247

Total Equity Securities		423,709,247		—		—		423,709,247


Other
Investments of Cash Collateral Received for Securities on Loan		—		8,124,119		—		8,124,119

Total Other		—		8,124,119		—		8,124,119


Total	$	423,709,247	$	8,124,119	$	—	$	431,833,366


(a)		See the Portfolio of Investments for all investment classifications not indicated in the table.

(b)		Includes certain securities trading outside the U.S. whose values were adjusted at Oct. 31, 2009 as a result of significant market movements following the close of local trading, and were classified as Level 2. These values were not adjusted as of July 31, 2010. Therefore, these investment securities were classified as Level 1 instead of Level 2 at July 31, 2010. The amount of securities transferred out of Level 2 into Level 1 during the period was $141,213,840. Transfers between Levels 1 and 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.


Issuer	Shares		Value(a)
United Kingdom (17.3%)
Admiral Group PLC		25,892		588,206
AstraZeneca PLC		8,386		426,017
BAE Systems PLC		56,710		277,950
BlueBay Asset Management PLC		50,470		222,503
British American Tobacco PLC		12,648		435,365
Close Brothers Group PLC		18,595		196,047
GlaxoSmithKline PLC		19,626		342,091
Man Group PLC		98,708		336,517
National Grid PLC		43,612		348,614
Pearson PLC		44,473		690,411
RSA Insurance Group PLC		80,174		160,502
United Utilities Group PLC		28,475		261,346
Vodafone Group PLC		285,388		666,021
Wincanton PLC		106,124		395,433

Total				5,347,023


United States (25.5%)
AllianceBernstein Holding LP		12,957		345,693
Altria Group, Inc.		24,504		543,009
AT&T, Inc.		13,937		361,526
BP Prudhoe Bay Royalty Trust		7,827		746,147
Bristol-Myers Squibb Co.		22,069		549,959
CenturyLink, Inc.		12,462		443,896
EI du Pont de Nemours & Co.		4,467		181,673
Foot Locker, Inc.		18,306		248,779
Frontier Communications Corp.		1,554		11,873
Home Depot, Inc.		9,946		283,560
Kinder Morgan Energy Partners LP		8,329		569,453
Merck & Co., Inc.		18,571		639,957
Mesabi Trust		8,967		218,077
Penn Virginia Resource Partners LP		8,172		197,354
Pfizer, Inc.		18,214		273,210
Philip Morris International, Inc.		8,405		428,991
Plum Creek Timber Co., Inc.		8,501		305,016
QUALCOMM, Inc.		4,565		173,835
Qwest Communications International, Inc.		48,681		275,534
Reynolds American, Inc.		6,741		389,765
Southern Co.		10,182		359,730
Southern Copper Corp.		4,983		156,516
Verizon Communications, Inc.		6,475		188,164

Total				7,891,717

Total Common Stocks (Cost: $25,442,858)			$	29,675,292


Bonds (3.4%)(c)

Coupon

Principal

Issuer

rate

amount

Value(a)

Finland (2.1%)

Talvivaara Mining Co. PLC

(EUR) Senior Unsecured Convertible

05-20-13

5.250

500,000

644,985

United Kingdom (1.3%)

International Power Finance Jersey III Ltd.

(EUR) Convertible

06-05-15

4.750

300,000

398,249

Total Bonds
(Cost: $615,698)

1,043,234

Money Market Fund (0.6%)


	Shares			Value(a)
Columbia Short-Term Cash Fund, 0.279%		188,051	(e)	$	188,051

Total Money Market Fund (Cost: $188,051)				$	188,051


Investments of Cash Collateral Received for Securities on Loan (3.9%)

Effective

Principal

Issuer

yield

amount

Value(a)

Repurchase Agreements(f)

UBS Securities LLC
dated 07-30-10, matures 08-02-10,
repurchase price
$1,215,372

0.210

1,215,351

1,215,351

Total Investments of Cash Collateral Received for Securities on Loan
(Cost: $1,215,351)

1,215,351

Total Investments in Securities
(Cost: $27,461,958)(g)

32,121,928

Summary of Investments in Securities by Industry

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of net assets at July 31, 2010:


	Percentage of net
Industry	assets			Value(a)

Aerospace & Defense		0.9	%	$	277,950
Air Freight & Logistics		1.3			395,433
Beverages		5.3			1,644,469
Capital Markets		4.3			1,331,659
Chemicals		2.1			637,679
Commercial Banks		6.0			1,860,156
Commercial Services & Supplies		0.6			170,437
Communications Equipment		2.9			907,709
Construction & Engineering		1.1			343,611
Diversified Telecommunication Services		11.2			3,476,693
Electric		1.3			398,249
Electric Utilities		2.6			802,374
Electronic Equipment, Instruments & Components		2.0			626,161
Gas Utilities		1.6			497,833
Hotels, Restaurants & Leisure		0.4			126,136
Insurance		4.5			1,384,162
IT Services		0.6			176,284
Machinery		1.1			331,130
Media		3.7			1,149,241
Metals		2.1			644,985
Metals & Mining		2.7			840,699
Multi-Utilities		2.0			609,960
Oil, Gas & Consumable Fuels		11.6			3,559,559
Personal Products		1.1			350,606
Pharmaceuticals		7.9			2,454,241
Real Estate Investment Trusts (REITs)		3.8			1,180,771
Real Estate Management & Development		1.2			369,154
Semiconductors & Semiconductor Equipment		0.9			281,072
Software		2.5			776,513
Specialty Retail		1.7			532,339
Tobacco		5.8			1,797,130
Wireless Telecommunication Services		2.5			784,131
Other(1)		4.5			1,403,402


Total				$	32,121,928


(1)		Cash & Cash Equivalents.

Investments in Derivatives

Forward Foreign Currency Contracts Open at July 31, 2010

Unrealized

Exchange date

Currency to be delivered

Currency to be received

appreciation

depreciation

Aug. 4, 2010

233,231

241,000

1,182

—

(USD)

(CAD)

Notes to Portfolio of Investments

ADR — American Depositary Receipt

CAD — Canadian Dollar

EUR — European Monetary Unit


(a)		Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated April 30, 2010.

(b)		Non-income producing.

(c)		Foreign security values are stated in U.S. dollars. For debt securities, principal amounts are denominated in U.S. dollar currency unless otherwise noted.

(d)		At July 31, 2010, security was partially or fully on loan.

(e)		Affiliated Money Market Fund – The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at July 31, 2010.

(f)		The table below represents securities received as collateral for repurchase agreements. This collateral, which is generally high quality short-term obligations, is deposited with the Fund’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the repurchase price plus accrued interest at all times. The market value of securities held as collateral for repurchase agreements is monitored on a daily basis to ensure the existence of the proper level of collateral.

UBS Securities LLC (0.210%)


Security description	Value (a)

Fannie Mae Interest Strip	$	276,203
Fannie Mae Principal Strip		52,759
Federal Farm Credit Bank		146,352
Federal Home Loan Mortgage Corp		518,577
Freddie Mac Strips		245,770

Total market value of collateral securities	$	1,239,661


(g)		At July 31, 2010, the cost of securities for federal income tax purposes was approximately $27,462,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:



Unrealized appreciation	$	5,532,000
Unrealized depreciation		(872,000	)

Net unrealized appreciation	$	4,660,000

Fair Value Measurements

Fair value inputs are summarized in the three broad levels listed below:

	•		Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

	•		Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

	•		Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments).

Non-U.S. equity securities actively traded in foreign markets may be reflected in Level 2 despite the availability of closing prices, because the Fund evaluates and determines whether those closing prices reflect fair value at the close of the New York Stock Exchange (NYSE) or require adjustment, as described in Note 2 to the financial statements – Valuation of securities in the most recent Semiannual Report dated April 30, 2010.

The following table is a summary of the inputs used to value the Fund’s investments as of July 31, 2010:


	Fair value at July 31, 2010
	Level 1		Level 2
	quoted prices		other		Level 3
	in active		significant		significant
	markets for		observable		unobservable
Description(a)	identical assets (b)		inputs		inputs		Total

Equity Securities
Common Stocks	$	29,675,292	$	—	$	—	$	29,675,292

Total Equity Securities		29,675,292		—		—		29,675,292


Bonds
Corporate Debt Securities
Electric		—		398,249		—		398,249
Metals		—		—		644,985		644,985

Total Bonds		—		398,249		644,985		1,043,234


Other
Affiliated Money Market Fund(c)		188,051		—		—		188,051
Investments of Cash Collateral Received for Securities on Loan		—		1,215,351		—		1,215,351

Total Other		188,051		1,215,351		—		1,403,402


Investments in Securities		29,863,343		1,613,600		644,985		32,121,928
Other Financial Instruments(d)		—		1,182		—		1,182


Total	$	29,863,343	$	1,614,782	$	644,985	$	32,123,110


(a)		See the Portfolio of Investments for all investment classifications not indicated in the table.

(b)		Includes certain securities trading outside the U.S. whose values were adjusted at Oct. 31, 2009 as a result of significant market movements following the close of local trading, and were classified as Level 2. These values were not adjusted as of July 31, 2010. Therefore, these investment securities were classified as Level 1 instead of Level 2 at July 31, 2010. The amount of securities transferred out of Level 2 into Level 1 during the period was $14,979,508. Transfers between Levels 1 and 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

(c)		Money market fund that is a sweep investment for cash balances in the Fund at July 31, 2010.

(d)		Other Financial Instruments are derivative instruments, which are valued at the unrealized appreciation (depreciation) on the instrument. Derivative descriptions are located in the Investments in Derivatives section of the Portfolio of Investments.

The following table is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value.


	Corporate Debt
	Securities

Balance as of Oct. 31, 2009	$	618,029
Accrued discounts/premiums		48,853
Realized gain (loss)		—
Change in unrealized appreciation (depreciation)*		(21,897	)
Net purchases (sales)		—
Transfers in and/or out of Level 3		—

Balance as of July 31, 2010	$	644,985


*		Change in unrealized appreciation (depreciation) relating to securities held at July 31, 2010 was ($21,897).

Transfers in and/or out of Level 3 are determined based on the fair value at the beginning of the period for security positions held throughout the period.


Issuer	Shares			Value(a)
Lowe’s Companies, Inc.		6,700			138,958
McDonald’s Corp.		3,217			224,321
Republic Services, Inc.		4,100			130,626
Roper Industries, Inc.		1,800			112,500
The Coca-Cola Co.		3,885			214,103
Thermo Fisher Scientific, Inc.		4,790	(b)		214,879
Union Pacific Corp.		2,100			156,807
WESCO International, Inc.		3,800	(b)		136,534

Total					2,671,862

Total Common Stocks (Cost: $7,680,479)				$	8,230,622


Money Market Fund (8.9%)


	Shares			Value(a)
Columbia Short-Term Cash Fund, 0.279%		795,780	(f)	$	795,780

Total Money Market Fund (Cost: $795,780)				$	795,780


Investments of Cash Collateral Received for Securities on Loan (1.8%)

Effective

Principal

Issuer

yield

amount

Value(a)

Repurchase Agreements(g)

UBS Securities LLC
dated 07-30-10, matures 08-02-10,
repurchase price
$162,622

0.210

162,619

162,619

Total Investments of Cash Collateral Received for Securities on Loan
(Cost: $162,619)

162,619

Total Investments in Securities
(Cost: $8,638,878)(h)

9,189,021

Summary of Investments in Securities by Industry

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of net assets at July 31, 2010:


	Percentage of net
Industry	assets			Value(a)

Airlines		1.9	%	$	173,028
Automobiles		1.2			104,829
Beverages		4.3			387,778
Chemicals		2.7			244,958
Commercial Banks		8.8			783,544
Commercial Services & Supplies		2.7			245,997
Computers & Peripherals		4.0			361,492
Construction & Engineering		1.7			153,152
Diversified Financial Services		1.8			161,460
Electrical Equipment		5.3			477,601
Electronic Equipment, Instruments & Components		2.3			202,500
Energy Equipment & Services		2.8			252,910
Food Products		3.4			304,105
Gas Utilities		1.6			139,905
Health Care Providers & Services		2.6			233,463
Hotels, Restaurants & Leisure		2.5			224,321
Household Products		2.2			193,185
Insurance		3.5			309,894
Internet Software & Services		2.4			217,825
IT Services		2.4			214,037
Life Sciences Tools & Services		2.4			214,879
Machinery		3.2			290,293
Media		1.7			152,292
Metals & Mining		1.8			160,036
Oil, Gas & Consumable Fuels		5.2			465,511
Real Estate Management & Development		1.3			120,565
Road & Rail		1.7			156,807
Semiconductors & Semiconductor Equipment		1.7			150,685
Software		2.8			254,300
Specialty Retail		1.5			138,958
Textiles, Apparel & Luxury Goods		1.5			136,868
Trading Companies & Distributors		1.5			136,534
Wireless Telecommunication Services		5.2			466,910
Other(1)		10.7			958,399


Total				$	9,189,021


(1)		Cash & Cash Equivalents.

Investments in Derivatives

Portfolio Swap(1) Outstanding at July 31, 2010


		Next	Net unrealized
Counterparty	Description	reset date	depreciation

UBS	The Fund receives (pays) the total return on a custom basket of long (short) equity positions and pays (receives) a floating rate based on the 1-day LIBOR which is denominated in various foreign currencies based on the local currencies of the securities underlying the custom basket.	Aug. 9, 2010		($41,924	)

Total				($41,924	)

Summary of Portfolio Swap Exposure by Industry

The following table represents the exposure of the custom basket of equity securities underlying the portfolio swap by industry classifications as a percentage of net assets at July 31, 2010:


				Value
	Percentage of
	net assets			Long			Short			Net

Capital Markets		(1.5	)%	$	—		$	(131,747	)	$	(131,747	)
Chemicals		(0.4	)		—			(34,569	)		(34,569	)
Commercial Banks		2.1			190,734			—			190,734
Communications Equipment		2.6			230,700			—			230,700
Computers & Peripherals		2.9			257,250			—			257,250
Construction & Engineering		(1.2	)		—			(107,400	)		(107,400	)
Construction Materials		(1.8	)		—			(163,672	)		(163,672	)
Diversified Financial Services		3.4			307,177			—			307,177
Electric Utilities		(1.6	)		—			(148,330	)		(148,330	)
Electrical Equipment		(0.6	)		—			(53,482	)		(53,482	)
Energy Equipment & Services		(1.0	)		—			(92,852	)		(92,852	)
Health Care Equipment & Supplies		(0.5	)		155,439			(198,859	)		(43,420	)
Health Care Providers & Services		1.6			146,972			—			146,972
Hotels, Restaurants & Leisure		(0.5	)		78,600			(127,512	)		(48,912	)
IT Services		4.3			385,200			—			385,200
Machinery		0.5			126,753			(77,984	)		48,769
Multiline Retail		1.3			119,915			—			119,915
Oil, Gas & Consumable Fuels		0.6			155,783			(99,116	)		56,667
Real Estate Investment Trusts (REITs)		(2.2	)		—			(196,706	)		(196,706	)
Road & Rail		0.2			100,168			(85,176	)		14,992
Software		3.2			283,680			—			283,680
Specialty Retail		1.6			147,245			—			147,245
Textiles, Apparel & Luxury Goods		0.6			154,873			(102,924	)		51,949
Water Utilities		(0.9	)		—			(77,960	)		(77,960	)
U.S. Large Cap		(7.4	)		—			(661,620	)		(661,620	)
Other(2)		(5.8	)		(521,426	)		(1,078	)		(522,504	)

		(0.5	)%	$	2,319,063		$	(2,360,987	)	$	(41,924	)


(1)		The Fund has entered into a portfolio swap agreement. A portfolio swap allows the Fund to obtain exposure to a custom basket of securities and foreign markets (both long and short exposures) without owning or taking physical custody of such securities. Under the terms of the agreement, payments made by the Fund or the counterparty are based on the total return of the reference assets within the basket. That is, one party agrees to pay another party the return on the basket in return for a specified interest rate. The agreement allows the Investment Manager of the Fund to alter the composition of the custom basket by trading in and out of the notional security positions at its discretion.

		The notional amounts of the security positions held in the basket are not recorded in the financial statements. The portfolio swap is valued daily, and the change in value is recorded as unrealized appreciation (depreciation). The swap resets monthly at which time the Fund settles in cash with the counterparty. Payments received or made are recorded as realized gains (losses).

(2)		Cash equivalents

Notes to Portfolio of Investments

ADR — American Depositary Receipt

GDR — Global Depositary Receipt


(a)		Securities are valued by using policies described in Note 2 to the financial statements in the most recent Semiannual Report dated April 30, 2010.

(b)		Non-income producing.

(c)		Foreign security values are stated in U.S. dollars.

(d)		Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2010, the value of these securities amounted to $194,575 or 2.17% of net assets.

(e)		At July 31, 2010, security was partially or fully on loan.


(f)		Affiliated Money Market Fund — The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at July 31, 2010.

(g)		The table below represents securities received as collateral for repurchase agreements. This collateral, which is generally high quality short-term obligations, is deposited with the Fund’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the repurchase price plus accrued interest at all times. The market value of securities held as collateral for repurchase agreements is monitored on a daily basis to ensure the existence of the proper level of collateral.

UBS Securities LLC (0.210%)


Security description	Value (a)

Fannie Mae Interest Strip	$	36,957
Fannie Mae Principal Strip		7,059
Federal Farm Credit Bank		19,583
Federal Home Loan Mortgage Corp		69,388
Freddie Mac Strips		32,885

Total market value of collateral securities	$	165,872


(h)		At July 31, 2010, the cost of securities for federal income tax purposes was approximately $8,639,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:


Unrealized appreciation	$	699,000
Unrealized depreciation		(149,000	)

Net unrealized appreciation	$	550,000

Fair Value Measurements

Fair value inputs are summarized in the three broad levels listed below:

	•		Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

	•		Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

	•		Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments).

The following table is a summary of the inputs used to value the Fund’s investments as of July 31, 2010:


	Fair value at July 31, 2010
	Level 1		Level 2
	quoted prices		other			Level 3
	in active		significant			significant
	markets for		observable			unobservable
Description(a)	identical assets(b)		inputs			inputs		Total

Equity Securities
Common Stocks	$	8,230,622	$	—		$	—	$	8,230,622

Total Equity Securities		8,230,622		—			—		8,230,622


Other
Affiliated Money Market Fund(c)		795,780		—			—		795,780
Investments of Cash Collateral Received for Securities on Loan		—		162,619			—		162,619

Total Other		795,780		162,619			—		958,399


Investments in Securities		9,026,402		162,619			—		9,189,021
Other Financial Instruments(d)		—		(41,924	)		—		(41,924	)

Total	$	9,026,402	$	120,695		$	—	$	9,147,097


(a)		See the Portfolio of Investments for all investment classifications not indicated in the table.

(b)		Includes certain securities trading outside the U.S. whose values were adjusted at Oct. 31, 2009 as a result of significant market movements following the close of local trading, and were classified as Level 2. These values were not adjusted as of July 31, 2010. Therefore, these investment securities were classified as Level 1 instead of Level 2 at July 31, 2010. The amount of securities transferred out of Level 2 into Level 1 during the period was $1,487,713. Transfers between Levels 1 and 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

(c)		Money market fund that is a sweep investment for cash balances in the Fund at July 31, 2010.

(d)		Other Financial Instruments are derivative instruments, which are valued at the unrealized appreciation (depreciation) on the instrument. Derivative descriptions are located in the Investments in Derivatives section of the Portfolio of Investments.


	Coupon		Principal
Issuer	rate		amount			Value(a)
Iraq (0.4%)
Republic of Iraq
01-15-28		5.800		1,100,000	(d)		915,750

Kazakhstan (3.1%)
KazMunaiGaz Finance Sub BV
01-23-15		11.750		1,600,000	(d)		2,010,080
07-02-18		9.125		2,595,000	(d)		3,097,781
05-05-20		7.000		1,850,000	(d)		1,998,805

Total							7,106,666


Lithuania (0.6%)
Lithuania Government International Bond
02-11-20		7.375		1,200,000	(d)		1,320,063

Mexico (8.9%)
Mexican Bonos
(MXN)
12-17-15		8.000		19,400,000			1,671,486
12-15-16		7.250		33,010,000			2,759,293
12-14-17		7.750		39,100,000			3,362,327
Pemex Project Funding Master Trust
03-01-18		5.750		2,550,000			2,702,722
05-03-19		8.000		1,600,000			1,936,000
01-21-21		5.500		1,500,000	(d,e)		1,546,303
06-15-35		6.625		4,304,000	(e)		4,530,011
06-15-38		6.625		2,000,000			2,079,806

Total							20,587,948


Peru (2.2%)
Banco de Credito del Peru
(PEN) Subordinated Notes
10-15-22		7.170		6,000,000	(d)		2,074,876
Peruvian Government International Bond
Senior Unsecured
03-14-37		6.550		2,600,000			3,016,000

Total							5,090,876


	Coupon		Principal
Issuer	rate		amount			Value(a)
Bermuda (0.1%)
Bacardi Ltd.
Senior Notes
04-01-14		7.450		245,000	(d)		286,695

Brazil (2.2%)
Banco Nacional de Desenvolvimento Economico e Social
Senior Unsecured
06-16-18		6.369		535,000	(d)		591,844
06-10-19		6.500		910,000	(d)		1,021,426
Brazil Notas do Tesouro Nacional
(BRL)
01-01-12		10.000		762,500			4,282,182
01-01-13		10.000		740,000			4,070,518
Brazilian Government International Bond
01-15-18		8.000		249,167			295,512
Brazilian Government International Bond
Senior Unsecured
01-17-17		6.000		307,000			347,677
10-14-19		8.875		115,000			155,250
Centrais Eletricas Brasileiras SA
Senior Unsecured
07-30-19		6.875		375,000	(d)		423,795

Total							11,188,204


Canada (2.7%)
Canadian Government Bond
(CAD)
06-01-18		4.250		1,080,000			1,150,634
Cascades, Inc.
12-15-17		7.750		695,000			722,800
Devon Financing Corp. ULC
09-30-11		6.875		110,000			116,697
EnCana Corp.
Senior Unsecured
11-01-11		6.300		30,000			31,789
Province of British Columbia Canada
(CAD)
06-18-14		5.300		1,640,000			1,768,539
Province of Ontario Canada
(CAD)
03-08-14		5.000		2,835,000			3,004,918
Province of Quebec Canada
(CAD)
12-01-17		4.500		4,083,000			4,233,873
Royal Bank of Canada
(EUR) Senior Unsecured
01-18-13		3.250		630,000			850,049
TELUS Corp.
Senior Unsecured
06-01-11		8.000		686,000			726,001
The Toronto-Dominion Bank
(EUR) Senior Unsecured
05-14-15		5.375		600,000			885,809


	Coupon		Principal
Issuer	rate		amount			Value(a)
Thomson Reuters Corp.
Senior Unsecured
04-15-40		5.850		235,000			251,375
TransAlta Corp.
Senior Unsecured
03-15-40		6.500		180,000			188,095

Total							13,930,579


Cayman Islands (0.2%)
Allstate Life Funding LLC
(GBP) Senior Secured
01-17-11		6.375		250,000			398,854
Pacific Life Funding LLC
(GBP) Secured
02-08-11		6.250		251,000			401,630

Total							800,484


Colombia (0.3%)
Colombia Government International Bond
01-27-17		7.375		230,000			275,770
09-18-37		7.375		260,000			323,700
Colombia Government International Bond
Senior Unsecured
03-18-19		7.375		250,000	(n)		305,625
01-18-41		6.125		235,000			255,924
Ecopetrol SA
Senior Unsecured
07-23-19		7.625		300,000			351,000

Total							1,512,019


Czech Republic (0.1%)
Czech Republic Government Bond
(CZK)
06-16-13		3.700		11,530,000			632,376

Denmark (0.4%)
Nykredit Realkredit A/S
(DKK)
04-01-28		5.000		10,302,375			1,883,790

El Salvador (0.1%)
El Salvador Government International Bond
Senior Unsecured
01-24-23		7.750		245,000	(d)		264,233

France (4.7%)
BNP Paribas
(EUR) Senior Subordinated Notes
12-17-12		5.250		555,000			769,768
Caisse Refinancement de l’Habitat
(EUR)
10-11-10		4.375		700,000			917,647


	Coupon		Principal
Issuer	rate		amount			Value(a)
Expro Finance Luxembourg SCA
Senior Secured
12-15-16		8.500		378,000	(d)		368,510
Telecom Italia Capital SA
07-18-36		7.200		35,000			37,152

Total							1,949,673


Malaysia (0.5%)
Petronas Capital Ltd.
05-22-12		7.000		500,000	(d)		546,072
08-12-19		5.250		1,980,000	(d)		2,127,258

Total							2,673,330


Mexico (1.7%)
Mexican Bonos
(MXN)
12-19-13		8.000		35,940,000			3,056,493
12-17-15		8.000		55,280,000			4,762,872
Mexican Government International Bond
Senior Unsecured
09-27-34		6.750		270,000			321,300
Pemex Project Funding Master Trust
03-01-18		5.750		617,000			653,953

Total							8,794,618


Netherlands (2.9%)
Allianz Finance II BV
(EUR)
11-23-16		4.000		400,000			550,861
BMW Finance NV
(EUR)
09-19-13		8.875		650,000			1,011,698
Deutsche Telekom International Finance BV
(EUR)
01-19-15		4.000		1,335,000			1,814,399
Deutsche Telekom International Finance BV
(GBP)
12-09-10		6.250		415,000			661,270
E.ON International Finance BV
(EUR)
10-02-17		5.500		535,000			806,091
ING Groep NV
(EUR) Senior Unsecured
05-31-17		4.750		1,205,000			1,613,418
Netherlands Government Bond
(EUR)
07-15-12		5.000		2,880,000			4,048,910
07-15-13		4.250		2,345,000			3,328,454
Rabobank Nederland NV
(EUR) Senior Unsecured
04-04-12		4.125		600,000			817,445

Total							14,652,546


	Coupon		Principal
Issuer	rate		amount			Value(a)
TransCapitalInvest Ltd. for OJSC AK Transneft
Senior Unsecured
03-05-14		5.670		200,000	(d)		212,235

Total							2,058,693


South Africa (0.5%)
South Africa Government Bond
(ZAR) Senior Unsecured
12-21-14		8.750		15,975,000			2,291,461

South Korea (0.3%)
Export-Import Bank of Korea
Senior Unsecured
01-21-14		8.125		810,000			928,960
01-14-15		5.875		450,000			497,144

Total							1,426,104


Spain (2.4%)
Ayt Cedulas Cajas Global
(EUR)
06-14-18		4.250		1,500,000			1,770,239
Caja de Ahorros y Monte de Piedad de Madrid
(EUR)
03-25-11		3.500		1,800,000			2,350,625
Instituto de Credito Oficial
(AUD) Government Guaranteed
03-08-11		5.500		1,210,000			1,087,462
Santander International Debt SA
(EUR) Bank Guaranteed
04-11-11		5.125		1,200,000			1,593,126
Spain Government Bond
(EUR)
07-30-17		5.500		2,050,000			2,969,650
Telefonica Emisiones SAU
04-27-20		5.134		1,570,000			1,649,271
Telefonica Emisiones SAU
(EUR)
02-02-16		4.375		550,000			743,667

Total							12,164,040


Supra-National (0.7%)
Corp. Andina de Fomento
Senior Unsecured
06-04-19		8.125		730,000			889,360
European Investment Bank
(GBP) Senior Unsecured
12-07-11		5.500		1,695,000			2,817,785

Total							3,707,145


Sweden (1.0%)
Sweden Government Bond
(SEK)
05-05-14		6.750		30,525,000			4,958,024


	Foreign
	Government
	Obligations &			Corporate Debt
	Agencies			Securities			Total

Balance as of Oct. 31, 2009	$	5,251,716		$	2,703,228		$	7,954,944
Accrued discounts/premiums		138,631			(3,255	)		135,376
Realized gain (loss)		284,798			—			284,798
Change in unrealized appreciation (depreciation)*		(84,961	)		95,034			10,073
Net purchases (sales)		(1,538,802	)		673,174			(865,628	)
Transfers in and/or out of Level 3		—			—			—

Balance as of July 31, 2010	$	4,051,382		$	3,468,181		$	7,519,563


(Registrant)			RiverSource Global Series, Inc.
By			/s/ J. Kevin Connaughton
			J. Kevin Connaughton President and Principal Executive Officer

Date			September 28, 2010