N-CSR 1 f25466d1.htm COLUMBIA FUNDS SERIES TRUST Columbia Funds Series Trust

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 

  

FORM N-CSR 

  

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES 

  

Investment Company Act file number 811-09645 

  

Columbia Funds Series Trust  

  

(Exact name of registrant as specified in charter) 

  

290 Congress Street 

Boston, MA 02210 


(Address of principal executive offices) (Zip code) 

  

Daniel J. Beckman 

c/o Columbia Management Investment Advisers, LLC 

290 Congress Street 

Boston, MA 02210 

  

Ryan C. Larrenaga, Esq. 

c/o Columbia Management Investment Advisers, LLC 

290 Congress Street 

Boston, MA 02210 


(Name and address of agent for service) 

  

Registrant's telephone number, including area code: (800) 345-6611 

  

Date of fiscal year end:  February 28 

  

Date of reporting period:  February 28, 2023 

  

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles. 

  

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100  F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507. 

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Item 1. Reports to Stockholders. 


Annual Report
February 28, 2023 
Columbia Convertible Securities Fund
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value

Table of Contents
If you elect to receive the shareholder report for Columbia Convertible Securities Fund (the Fund) in paper, mailed to you, the Fund mails one shareholder report to each shareholder address, unless such shareholder elects to receive shareholder reports from the Fund electronically via e-mail or by having a paper notice mailed to you (Postcard Notice) that your Fund’s shareholder report is available at the Columbia funds’ website (columbiathreadneedleus.com/investor/). If you would like more than one report in paper to be mailed to you, or would like to elect to receive reports via e-mail or access them through Postcard Notice, please call shareholder services at 800.345.6611 and additional reports will be sent to you.
Proxy voting policies and procedures
The policy of the Board of Trustees is to vote the proxies of the companies in which the Fund holds investments consistent with the procedures as stated in the Statement of Additional Information (SAI). You may obtain a copy of the SAI without charge by calling 800.345.6611; contacting your financial intermediary; visiting columbiathreadneedleus.com/investor/; or searching the website of the Securities and Exchange Commission (SEC) at sec.gov. Information regarding how the Fund voted proxies relating to portfolio securities is filed with the SEC by August 31st for the most recent 12-month period ending June 30th of that year, and is available without charge by visiting columbiathreadneedleus.com/investor/, or searching the website of the SEC at sec.gov.
Quarterly schedule of investments
The Fund files a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. The Fund’s Form N-PORT filings are available on the SEC’s website at sec.gov. The Fund’s complete schedule of portfolio holdings, as filed on Form N-PORT, is available on columbiathreadneedleus.com/investor/ or can also be obtained without charge, upon request, by calling 800.345.6611.
Additional Fund information
For more information about the Fund, please visit columbiathreadneedleus.com/investor/ or call 800.345.6611. Customer Service Representatives are available to answer your questions Monday through Friday from 8 a.m. to 7 p.m. Eastern time.
Fund investment manager
Columbia Management Investment Advisers, LLC (the Investment Manager)
290 Congress Street
Boston, MA 02210
Fund distributor
Columbia Management Investment Distributors, Inc.
290 Congress Street
Boston, MA 02210
Fund transfer agent
Columbia Management Investment Services Corp.
P.O. Box 219104
Kansas City, MO 64121-9104
Columbia Convertible Securities Fund  |  Annual Report 2023

Fund at a Glance
(Unaudited)
Investment objective
The Fund seeks total return, consisting of capital appreciation and current income.
Portfolio management
Yan Jin
Lead Portfolio Manager
Managed Fund since 2006
David King, CFA
Portfolio Manager
Managed Fund since 2010
Grace Lee, CAIA
Portfolio Manager
Managed Fund since 2020
Average annual total returns (%) (for the period ended February 28, 2023)
    Inception 1 Year 5 Years 10 Years
Class A Excluding sales charges 09/25/87 -10.29 9.39 9.69
  Including sales charges   -15.46 8.10 9.04
Advisor Class 11/08/12 -10.04 9.68 9.97
Class C Excluding sales charges 10/21/96 -10.94 8.58 8.87
  Including sales charges   -11.75 8.58 8.87
Institutional Class 05/21/99 -10.04 9.67 9.97
Institutional 2 Class 11/08/12 -10.00 9.74 10.06
Institutional 3 Class* 10/01/14 -9.93 9.80 10.04
Class R 11/16/11 -10.46 9.12 9.42
ICE BofA US Convertible Index   -9.18 9.82 10.01
Returns for Class A shares are shown with and without the maximum initial sales charge of 5.75%. Returns for Class C shares are shown with and without the 1.00% contingent deferred sales charge for the first year only. The Fund’s other share classes are not subject to sales charges and have limited eligibility. Please see the Fund’s prospectus for details. Performance for different share classes will vary based on differences in sales charges and fees associated with each share class. All results shown assume reinvestment of distributions during the period. Returns do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on the redemption of Fund shares. Performance results reflect the effect of any fee waivers or reimbursements of Fund expenses by Columbia Management Investment Advisers, LLC and/or any of its affiliates. Absent these fee waivers or expense reimbursement arrangements, performance results would have been lower.
The performance information shown represents past performance and is not a guarantee of future results. The investment return and principal value of your investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information shown. You may obtain performance information current to the most recent month-end by contacting your financial intermediary, visiting columbiathreadneedleus.com/investor/ or calling 800.345.6611.
* The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information.
The ICE BofA US Convertible Index tracks the performance of publicly issued US dollar denominated convertible securities of US companies. Effective July 1, 2022 the ICE BofA US Convertible Index now includes transaction costs.
Indices are not available for investment, are not professionally managed and do not reflect sales charges, fees, brokerage commissions, taxes, other expenses of investing or, for periods prior to July 2022, transaction costs. Securities in the Fund may not match those in an index.
Columbia Convertible Securities Fund  | Annual Report 2023
3

Fund at a Glance   (continued)
(Unaudited)
Performance of a hypothetical $10,000 investment (February 28, 2013 — February 28, 2023)
The chart above shows the change in value of a hypothetical $10,000 investment in Class A shares of Columbia Convertible Securities Fund during the stated time period, and does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on the redemption of Fund shares.
Portfolio breakdown (%) (at February 28, 2023)
Common Stocks 3.7
Convertible Bonds 82.5
Convertible Preferred Stocks 13.3
Money Market Funds 0.5
Total 100.0
Percentages indicated are based upon total investments excluding investments in derivatives, if any. The Fund’s portfolio composition is subject to change.
Equity sector breakdown (%) (at February 28, 2023)
Communication Services 6.5
Consumer Discretionary 5.4
Energy 9.5
Financials 11.9
Health Care 14.3
Industrials 12.0
Information Technology 7.2
Real Estate 3.2
Utilities 30.0
Total 100.0
Percentages indicated are based upon total equity investments. The Fund’s portfolio composition is subject to change.
 
4 Columbia Convertible Securities Fund  | Annual Report 2023

Manager Discussion of Fund Performance
(Unaudited)
For the 12-month period that ended February 28, 2023, Class A shares of Columbia Convertible Securities Fund returned -10.29% excluding sales charges. The Fund underperformed its benchmark, the ICE BofA US Convertible Index, which returned -9.18% for the same time period.
Market overview
Driven by a series of eight interest rate hikes by the U.S. Federal Reserve (Fed), decades-high inflation, persistent recession worries, climbing U.S. Treasury yields, supply-chain disruptions, volatile commodity prices, geopolitical tensions resulting from Russia’s invasion of Ukraine, and elevated concerns around China’s zero-COVID policy, the U.S. equity market, as measured by the S&P 500 Index, posted negative returns during the annual period. On slowing yet relatively resilient corporate earnings reports, a still-tight U.S. labor market, an economic reopening in China, hopes that Fed interest rate hikes would be smaller and soon pause, and warming notions of a soft economic landing, there were brief respites of equity market rallies, such as those in July into early August 2022, in October and November 2022, and then in January 2023. However, as the realization that interest rates could remain higher for longer set in with investors even as inflation decreased, albeit from high levels, stocks ticked lower again in February 2023.
Convertible securities struggled during the period, mirroring the trend in place across the financial markets, due in part to the sizable downturn in stocks of faster growing companies that are heavily represented in the convertible market.  The market decline in the first half of 2022 reduced the category’s overall equity sensitivity – meaning that it had become less vulnerable to the weakness in stock prices. As a result, the second half of 2022 saw convertible securities gain some ground, though not enough to finish the year without a double-digit negative return. The convertible market remained under pressure through the end of 2022 from its tilt toward growth companies, which was a headwind, given that the value style strongly outperformed. Convertibles saw a bounce back in the first two months of 2023, however, as growth stocks swung back into favor.
The new-issue market remained quiet. Only 64 new issues came to the market during the annual period. The value of new issuance for the annual period was $32 billion (USD), well below the total for the previous annual period. Notably, new issuance was not enough to make up for the total amount of convertibles that matured or were otherwise removed from the market in 2022. Although the decline in new-issue supply reflected the combination of difficult market conditions and the higher cost of capital, we also think reduced supply helps provide a stronger foundation for prices.
The Fund’s notable detractors during the period
The information technology sector was the area of largest detraction for the Fund overall during the period, with holdings in the software, IT services and electronic equipment industries weighing most on performance.
The communications services sector, particularly interactive media, media and entertainment also delivered negative results for the Fund.
Internet and direct marketing within the consumer discretionary sector, and biotechnology within the health care sector, also delivered disappointing results for the Fund.
Individual holdings that detracted most during the period included biotechnology company Clovis Oncology, television and direct-broadcast satellite provider Dish Network, internet dating application company Match Group, online home goods retailer Wayfair and cryptocurrency mining company Marathon Digital Holdings.
The Fund’s notable contributors during the period
The Fund’s selections within the energy sector contributed during the period, particularly within oil gas and consumable fuels.
Contribution to the Fund’s performance also came from positive results within the financials sector, particularly from the banks and mortgage real estate investment trusts segments and the consumer staples sector, particularly the beverages and food products areas.
Within the industrials sector, the construction & engineering industry and the electrical equipment industry also delivered positive results for the Fund.
Columbia Convertible Securities Fund  | Annual Report 2023
5

Manager Discussion of Fund Performance  (continued)
(Unaudited)
The Fund’s allocation to semiconductors, within the information technology sector, was also additive to Fund performance.
Individual names that contributed most during the annual period included diabetes management company Dexcom, traditional energy issuer EQT Corp., global cruise company Royal Caribbean Group, engineering and construction company Fluor Corp. and video sharing website Bilibili. The Fund’s position in Fluor was sold duiring the period.
Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. Convertible securities are subject to issuer default risk. A rise in interest rates may result in a price decline of fixed-income instruments held by the Fund, negatively impacting its performance and NAV. Falling rates may result in the Fund investing in lower yielding debt instruments, lowering the Fund’s income and yield. These risks may be heightened for longer maturity and duration securities. The Fund may also be forced to convert a convertible security at an inopportune time, which may decrease the Fund’s return. Non-investment-grade (high-yield or junk) securities present greater price volatility and more risk to principal and income than higher rated securities. Foreign investments subject the Fund to risks, including political, economic, market, social and others within a particular country, as well as to currency instabilities and less stringent financial and accounting standards generally applicable to U.S. issuers. Short positions (where the underlying asset is not owned) can create unlimited risk. Market or other (e.g., interest rate) environments may adversely affect the liquidity of Fund investments, negatively impacting their price. Generally, the less liquid the market at the time the Fund sells a holding, the greater the risk of loss or decline of value to the Fund. See the Fund’s prospectus for more information on these and other risks.
The views expressed in this report reflect the current views of the respective parties who have contributed to this report. These views are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict, so actual outcomes and results may differ significantly from the views expressed. These views are subject to change at any time based upon economic, market or other conditions and the respective parties disclaim any responsibility to update such views. These views may not be relied on as investment  advice and, because investment decisions for a Columbia fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any particular Columbia fund. References to specific securities should not be construed as a recommendation or investment advice.
6 Columbia Convertible Securities Fund  | Annual Report 2023

Understanding Your Fund’s Expenses
(Unaudited)
As an investor, you incur two types of costs. There are shareholder transaction costs, which generally include sales charges on purchases and may include redemption fees. There are also ongoing fund costs, which generally include management fees, distribution and/or service fees, and other fund expenses. The following information is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to help you compare these costs with the ongoing costs of investing in other mutual funds.
Analyzing your Fund’s expenses
To illustrate these ongoing costs, we have provided examples and calculated the expenses paid by investors in each share class of the Fund during the period. The actual and hypothetical information in the table is based on an initial investment of $1,000 at the beginning of the period indicated and held for the entire period. Expense information is calculated two ways and each method provides you with different information. The amount listed in the “Actual” column is calculated using the Fund’s actual operating expenses and total return for the period. You may use the Actual information, together with the amount invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the results by the expenses paid during the period under the “Actual” column. The amount listed in the “Hypothetical” column assumes a 5% annual rate of return before expenses (which is not the Fund’s actual return) and then applies the Fund’s actual expense ratio for the period to the hypothetical return. You should not use the hypothetical account values and expenses to estimate either your actual account balance at the end of the period or the expenses you paid during the period. See “Compare with other funds” below for details on how to use the hypothetical data.
Compare with other funds
Since all mutual funds are required to include the same hypothetical calculations about expenses in shareholder reports, you can use this information to compare the ongoing cost of investing in the Fund with other funds. To do so, compare the hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds. As you compare hypothetical examples of other funds, it is important to note that hypothetical examples are meant to highlight the ongoing costs of investing in a fund only and do not reflect any transaction costs, such as sales charges, or redemption or exchange fees. Therefore, the hypothetical calculations are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. If transaction costs were included in these calculations, your costs would be higher.
September 1, 2022 — February 28, 2023
  Account value at the
beginning of the
period ($)
Account value at the
end of the
period ($)
Expenses paid during
the period ($)
Fund’s annualized
expense ratio (%)
  Actual Hypothetical Actual Hypothetical Actual Hypothetical Actual
Class A 1,000.00 1,000.00 986.70 1,019.24 5.52 5.61 1.12
Advisor Class 1,000.00 1,000.00 988.20 1,020.48 4.29 4.36 0.87
Class C 1,000.00 1,000.00 982.90 1,015.52 9.19 9.35 1.87
Institutional Class 1,000.00 1,000.00 988.00 1,020.48 4.29 4.36 0.87
Institutional 2 Class 1,000.00 1,000.00 988.40 1,020.73 4.04 4.11 0.82
Institutional 3 Class 1,000.00 1,000.00 988.80 1,020.93 3.85 3.91 0.78
Class R 1,000.00 1,000.00 985.90 1,018.00 6.75 6.85 1.37
Expenses paid during the period are equal to the annualized expense ratio for each class as indicated above, multiplied by the average account value over the period and then multiplied by the number of days in the Fund’s most recent fiscal half year and divided by 365.
Expenses do not include fees and expenses incurred indirectly by the Fund from its investment in underlying funds, including affiliated and non-affiliated pooled investment vehicles, such as mutual funds and exchange-traded funds.
Had Columbia Management Investment Advisers, LLC and/or certain of its affiliates not waived/reimbursed certain fees and expenses, account value at the end of the period would have been reduced.
Columbia Convertible Securities Fund  | Annual Report 2023
7

Portfolio of Investments
February 28, 2023
(Percentages represent value of investments compared to net assets)
Investments in securities
Common Stocks 3.6%
Issuer Shares Value ($)
Energy 1.6%
Oil, Gas & Consumable Fuels 1.6%
Ascent Resources, Class B(a),(b),(c),(d) 10,248,729 2,295,715
EQT Corp. 200,000 6,636,000
Pioneer Natural Resources Co. 65,200 13,066,732
Total   21,998,447
Total Energy 21,998,447
Health Care 0.5%
Health Care Providers & Services 0.5%
Elevance Health, Inc. 15,000 7,045,050
Total Health Care 7,045,050
Industrials 0.5%
Airlines 0.5%
Southwest Airlines Co. 200,000 6,716,000
Total Industrials 6,716,000
Information Technology 0.5%
Semiconductors & Semiconductor Equipment 0.5%
Microchip Technology, Inc. 90,000 7,292,700
Total Information Technology 7,292,700
Real Estate 0.5%
Equity Real Estate Investment Trusts (REITS) 0.5%
Kite Realty Group Trust 340,000 7,384,800
Total Real Estate 7,384,800
Total Common Stocks
(Cost $43,201,302)
50,436,997
    
Convertible Bonds(e) 81.0%
Issuer Coupon
Rate
  Principal
Amount ($)
Value ($)
Aerospace & Defense 0.6%
Axon Enterprise, Inc.(f)
12/15/2027 0.500%   8,432,000 9,085,480
Airlines 1.5%
American Airlines Group, Inc.
07/01/2025 6.500%   8,850,000 10,668,675
JetBlue Airways Corp.
04/01/2026 0.500%   13,880,000 10,693,795
Total 21,362,470
Convertible Bonds(e) (continued)
Issuer Coupon
Rate
  Principal
Amount ($)
Value ($)
Automotive 0.7%
Lucid Group, Inc.(f)
12/15/2026 1.250%   15,860,000 9,516,000
Building Materials 0.6%
Patrick Industries, Inc.
12/01/2028 1.750%   8,850,000 8,125,406
Cable and Satellite 3.3%
Cable One, Inc.
03/15/2028 1.125%   12,000,000 8,706,000
DISH Network Corp.
Subordinated
08/15/2026 3.375%   38,778,000 24,782,249
Liberty Media Corp-Liberty Formula One(f)
08/15/2027 2.250%   11,900,000 12,066,600
Total 45,554,849
Consumer Cyclical Services 4.4%
Airbnb, Inc.(g)
03/15/2026 0.000%   9,010,000 7,757,610
Alarm.com Holdings, Inc.(g)
01/15/2026 0.000%   13,000,000 10,652,101
Lyft, Inc.
05/15/2025 1.500%   7,380,000 6,435,360
Match Group FinanceCo 3, Inc.(f)
01/15/2030 2.000%   15,848,000 13,954,164
Virgin Galactic Holdings, Inc.(f)
02/01/2027 2.500%   11,850,000 7,197,549
Zillow Group, Inc.
05/15/2025 2.750%   15,254,000 15,391,286
Total 61,388,070
Consumer Products 0.8%
Beauty Health Co. (The)(f)
10/01/2026 1.250%   12,850,000 10,593,219
Diversified Manufacturing 2.8%
Array Technologies, Inc.
12/01/2028 1.000%   5,940,000 5,957,820
Bloom Energy Corp.
08/15/2025 2.500%   4,440,000 6,486,840
Enphase Energy, Inc.(g)
03/01/2028 0.000%   9,069,000 9,350,535
Greenbrier Companies, Inc. (The)
04/15/2028 2.875%   11,488,000 9,787,776
The accompanying Notes to Financial Statements are an integral part of this statement.
8 Columbia Convertible Securities Fund  | Annual Report 2023

Portfolio of Investments  (continued)
February 28, 2023
Convertible Bonds(e) (continued)
Issuer Coupon
Rate
  Principal
Amount ($)
Value ($)
John Bean Technologies Corp.
05/15/2026 0.250%   7,930,000 7,244,055
Total 38,827,026
Electric 1.4%
CenterPoint Energy, Inc.(h)
Subordinated
09/15/2029 3.369%   286,500 11,434,215
Sunnova Energy International, Inc.(f)
02/15/2028 2.625%   10,820,000 8,475,367
Total 19,909,582
Food and Beverage 1.3%
Chefs’ Warehouse, Inc. (The)(f)
12/15/2028 2.375%   6,500,000 6,462,494
Post Holdings, Inc.(f)
08/15/2027 2.500%   10,900,000 11,273,870
Total 17,736,364
Health Care 8.8%
CONMED Corp.(f)
06/15/2027 2.250%   14,367,000 13,526,530
Dexcom, Inc.
11/15/2025 0.250%   15,880,000 16,808,980
DexCom, Inc.
12/01/2023 0.750%   3,335,000 9,009,503
Exact Sciences Corp.
03/01/2028 0.375%   23,980,000 20,668,388
Insulet Corp.
09/01/2026 0.375%   9,830,000 13,088,645
Integer Holdings Corp.(f)
02/15/2028 2.125%   9,000,000 9,589,500
Natera, Inc.
05/01/2027 2.250%   8,873,000 13,087,675
NeoGenomics, Inc.
05/01/2025 1.250%   9,850,000 9,037,375
Oak Street Health, Inc.(g)
03/15/2026 0.000%   10,000,000 9,251,829
Teladoc Health, Inc.
06/01/2027 1.250%   10,000,000 7,818,269
Total 121,886,694
Independent Energy 0.8%
Chesapeake Energy Escrow
09/15/2026 5.500%   10,200,000 183,600
Northern Oil and Gas, Inc.(f)
04/15/2029 3.625%   9,910,000 10,678,025
Total 10,861,625
Convertible Bonds(e) (continued)
Issuer Coupon
Rate
  Principal
Amount ($)
Value ($)
Leisure 4.5%
Carnival Corp.(f)
12/01/2027 5.750%   9,910,000 10,935,685
Live Nation Entertainment, Inc.(f)
01/15/2029 3.125%   13,890,000 13,751,100
NCL Corp., Ltd.
02/15/2027 2.500%   33,550,000 26,324,404
Royal Caribbean Cruises Ltd.(f)
08/15/2025 6.000%   6,940,000 11,235,860
Total 62,247,049
Lodging 0.7%
Marriott Vacations Worldwide Corp.(f)
12/15/2027 3.250%   9,680,000 9,955,880
Media and Entertainment 3.9%
Bilibili, Inc.
12/01/2026 0.500%   20,720,000 17,415,160
fuboTV, Inc.
02/15/2026 3.250%   18,000,000 8,613,209
Snap, Inc.
03/01/2028 0.125%   40,000,000 27,900,000
Total 53,928,369
Metals and Mining 2.8%
Ivanhoe Mines Ltd.(f)
04/15/2026 2.500%   5,775,000 7,365,030
Lithium Americas Corp.
01/15/2027 1.750%   16,780,000 14,164,132
MP Materials Corp.(f)
04/01/2026 0.250%   9,870,000 10,107,573
Peabody Energy Corp.(f)
03/01/2028 3.250%   4,410,000 7,038,360
Total 38,675,095
Oil Field Services 0.6%
Nabors Industries, Inc.(f)
06/15/2029 1.750%   9,000,000 9,018,146
Other Industry 0.5%
KBR, Inc.
11/01/2023 2.500%   3,040,000 6,640,880
Other REIT 1.4%
Blackstone Mortgage Trust, Inc.
03/15/2027 5.500%   8,920,000 7,938,800
 
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Convertible Securities Fund  | Annual Report 2023
9

Portfolio of Investments  (continued)
February 28, 2023
Convertible Bonds(e) (continued)
Issuer Coupon
Rate
  Principal
Amount ($)
Value ($)
Pebblebrook Hotel Trust
12/15/2026 1.750%   13,000,000 11,108,500
Total 19,047,300
Pharmaceuticals 9.2%
Alnylam Pharmaceuticals, Inc.(f)
09/15/2027 1.000%   13,880,000 13,260,389
BridgeBio Pharma, Inc.
02/01/2029 2.250%   22,700,000 8,603,300
Canopy Growth Corp.(f)
07/15/2023 4.250% CAD 13,000,000 9,092,664
Clovis Oncology, Inc.(i)
05/01/2025 0.000%   21,000,000 2,572,500
Collegium Pharmaceutical, Inc.(f)
02/15/2029 2.875%   7,000,000 6,733,937
Cytokinetics, Inc.(f)
07/01/2027 3.500%   10,410,000 11,503,050
Esperion Therapeutics, Inc.
11/15/2025 4.000%   13,900,000 8,773,647
Halozyme Therapeutics, Inc.
03/01/2027 0.250%   14,890,000 13,261,585
Insmed, Inc.
06/01/2028 0.750%   18,030,000 15,582,018
Ionis Pharmaceuticals, Inc.(g)
04/01/2026 0.000%   8,840,000 8,016,775
Jazz Investments I Ltd.
06/15/2026 2.000%   12,100,000 13,113,375
Sarepta Therapeutics, Inc.(f)
09/15/2027 1.250%   14,870,000 16,634,889
Total 127,148,129
Retailers 3.6%
Etsy, Inc.
06/15/2028 0.250%   23,630,000 19,650,183
Farfetch Ltd.
05/01/2027 3.750%   10,380,000 8,530,943
Wayfair, Inc.
08/15/2026 1.000%   30,745,000 21,099,252
Total 49,280,378
Technology 26.0%
2U, Inc.
05/01/2025 2.250%   18,750,000 15,168,750
Akamai Technologies, Inc.
09/01/2027 0.375%   15,725,000 13,955,937
Bandwidth, Inc.
03/01/2026 0.250%   14,750,000 11,129,909
Convertible Bonds(e) (continued)
Issuer Coupon
Rate
  Principal
Amount ($)
Value ($)
Bentley Systems, Inc.
07/01/2027 0.375%   15,750,000 13,080,375
BigCommerce Holdings, Inc.
10/01/2026 0.250%   16,780,000 12,694,070
Bill.com Holdings, Inc.(g)
04/01/2027 0.000%   22,900,000 17,816,200
Datadog, Inc.
06/15/2025 0.125%   10,023,000 10,980,197
Dropbox, Inc.(g)
03/01/2028 0.000%   20,500,000 17,425,000
Envestnet, Inc.(f)
12/01/2027 2.625%   7,930,000 8,576,295
Everbridge, Inc.
12/15/2024 0.125%   10,850,000 9,750,711
indie Semiconductor, Inc.(f)
11/15/2027 4.500%   7,920,000 11,541,757
Infinera Corp.(f)
08/01/2028 3.750%   6,530,000 8,443,290
Lumentum Holdings, Inc.(f)
06/15/2028 0.500%   29,137,000 21,929,023
MACOM Technology Solutions Holdings, Inc.
03/15/2026 0.250%   13,881,000 14,318,251
Marathon Digital Holdings, Inc.
12/01/2026 1.000%   17,780,000 6,220,510
MongoDB, Inc.
01/15/2026 0.250%   11,370,000 13,746,330
Nutanix, Inc.
10/01/2027 0.250%   12,500,000 10,621,452
Okta, Inc.
06/15/2026 0.375%   27,000,000 22,599,000
ON Semiconductor Corp.(f)
03/01/2029 0.500%   22,500,000 22,619,057
Palo Alto Networks, Inc.
06/01/2025 0.375%   16,347,000 31,181,902
Shift4 Payments, Inc.
08/01/2027 0.500%   24,230,000 21,043,755
SMART Global Holdings, Inc.
02/01/2029 2.000%   9,980,000 10,049,860
Tyler Technologies, Inc.
03/15/2026 0.250%   10,850,000 10,095,925
Wolfspeed, Inc.(f)
12/01/2029 1.875%   15,383,000 14,490,786
Zscaler, Inc.
07/01/2025 0.125%   10,070,000 11,172,665
Total 360,651,007
 
The accompanying Notes to Financial Statements are an integral part of this statement.
10 Columbia Convertible Securities Fund  | Annual Report 2023

Portfolio of Investments  (continued)
February 28, 2023
Convertible Bonds(e) (continued)
Issuer Coupon
Rate
  Principal
Amount ($)
Value ($)
Transportation Services 0.8%
CryoPort, Inc.(f)
12/01/2026 0.750%   13,850,000 11,012,424
Total Convertible Bonds
(Cost $1,252,382,317)
1,122,451,442
    
Convertible Preferred Stocks 13.1%
Issuer   Shares Value ($)
Communication Services 1.1%
Diversified Telecommunication Services 1.1%
2020 Cash Mandatory Exchangeable Trust(f) 5.250% 13,000 15,073,543
Total Communication Services 15,073,543
Consumer Discretionary 0.9%
Auto Components 0.9%
Aptiv PLC 5.500% 97,400 12,385,601
Total Consumer Discretionary 12,385,601
Financials 2.0%
Banks 1.2%
Bank of America Corp. 7.250% 13,500 16,116,840
Capital Markets 0.8%
KKR & Co., Inc. 6.000% 169,900 11,422,377
Total Financials 27,539,217
Health Care 1.9%
Health Care Equipment & Supplies 1.4%
Becton Dickinson and Co. 6.000% 180,000 8,672,400
Boston Scientific Corp. 5.500% 98,100 11,116,898
Total     19,789,298
Life Sciences Tools & Services 0.5%
Danaher Corp. 5.000% 4,990 6,303,955
Total Health Care 26,093,253
Industrials 1.5%
Machinery 0.8%
Chart Industries, Inc., ADR 6.750% 192,300 10,651,497
Convertible Preferred Stocks (continued)
Issuer   Shares Value ($)
Professional Services 0.7%
Clarivate PLC 5.250% 238,550 10,516,336
Total Industrials 21,167,833
Information Technology 0.7%
Electronic Equipment, Instruments & Components 0.7%
Coherent Corp. 6.000% 50,000 9,465,601
Total Information Technology 9,465,601
Utilities 5.0%
Electric Utilities 3.2%
American Electric Power Co., Inc. 6.125% 242,000 11,884,620
NextEra Energy, Inc. 6.926% 691,000 32,007,120
Total     43,891,740
Gas Utilities 0.5%
UGI Corp. 7.250% 80,000 6,788,000
Multi-Utilities 1.3%
NiSource, Inc. 7.750% 180,000 18,734,400
Total Utilities 69,414,140
Total Convertible Preferred Stocks
(Cost $184,818,641)
181,139,188
    
Money Market Funds 0.5%
  Shares Value ($)
Columbia Short-Term Cash Fund, 4.748%(j),(k) 6,894,163 6,891,405
Total Money Market Funds
(Cost $6,891,388)
6,891,405
Total Investments in Securities
(Cost: $1,487,293,648)
1,360,919,032
Other Assets & Liabilities, Net   24,287,745
Net Assets 1,385,206,777
 
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Convertible Securities Fund  | Annual Report 2023
11

Portfolio of Investments  (continued)
February 28, 2023
Notes to Portfolio of Investments
(a) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At February 28, 2023, the total value of these securities amounted to $2,295,715, which represents 0.17% of total net assets.
(b) Non-income producing investment.
(c) Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund’s Board of Trustees. At February 28, 2023, the total market value of these securities amounted to $2,295,715, which represents 0.17% of total net assets. Additional information on these securities is as follows:
    
Security Acquisition
Dates
Shares Cost ($) Value ($)
Ascent Resources, Class B 02/20/2014-11/15/2016 10,248,729 358,011 2,295,715
    
(d) Valuation based on significant unobservable inputs.
(e) Principal amounts are denominated in United States Dollars unless otherwise noted.
(f) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At February 28, 2023, the total value of these securities amounted to $372,737,536, which represents 26.91% of total net assets.
(g) Zero coupon bond.
(h) Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of February 28, 2023.
(i) Represents a security in default.
(j) The rate shown is the seven-day current annualized yield at February 28, 2023.
(k) As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows:
    
Affiliated issuers Beginning
of period($)
Purchases($) Sales($) Net change in
unrealized
appreciation
(depreciation)($)
End of
period($)
Realized gain
(loss)($)
Dividends($) End of
period shares
Columbia Short-Term Cash Fund, 4.748%
  665,824 628,541,453 (622,315,822) (50) 6,891,405 2,972 467,264 6,894,163
Abbreviation Legend
ADR American Depositary Receipt
Currency Legend
CAD Canada Dollar
Fair value measurements
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’s 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).
The accompanying Notes to Financial Statements are an integral part of this statement.
12 Columbia Convertible Securities Fund  | Annual Report 2023

Portfolio of Investments  (continued)
February 28, 2023
Fair value measurements  (continued)
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 Investment Manager, 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 may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. 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 Fund’s Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.
The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
The following table is a summary of the inputs used to value the Fund’s investments at February 28, 2023:
  Level 1 ($) Level 2 ($) Level 3 ($) Total ($)
Investments in Securities        
Common Stocks        
Energy 19,702,732 2,295,715 21,998,447
Health Care 7,045,050 7,045,050
Industrials 6,716,000 6,716,000
Information Technology 7,292,700 7,292,700
Real Estate 7,384,800 7,384,800
Total Common Stocks 48,141,282 2,295,715 50,436,997
Convertible Bonds 1,122,451,442 1,122,451,442
Convertible Preferred Stocks        
Communication Services 15,073,543 15,073,543
Consumer Discretionary 12,385,601 12,385,601
Financials 27,539,217 27,539,217
Health Care 26,093,253 26,093,253
Industrials 21,167,833 21,167,833
Information Technology 9,465,601 9,465,601
Utilities 69,414,140 69,414,140
Total Convertible Preferred Stocks 181,139,188 181,139,188
Money Market Funds 6,891,405 6,891,405
Total Investments in Securities 55,032,687 1,303,590,630 2,295,715 1,360,919,032
See the Portfolio of Investments for all investment classifications not indicated in the table.
The Fund’s assets assigned to the Level 2 input category are generally valued using the market approach, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets.
The Fund does not hold any significant investments (greater than one percent of net assets) categorized as Level 3.
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Convertible Securities Fund  | Annual Report 2023
13

Statement of Assets and Liabilities
February 28, 2023
Assets  
Investments in securities, at value  
Unaffiliated issuers (cost $1,480,402,260) $1,354,027,627
Affiliated issuers (cost $6,891,388) 6,891,405
Receivable for:  
Investments sold 28,138,037
Capital shares sold 1,215,328
Dividends 2,465,560
Interest 3,628,755
Expense reimbursement due from Investment Manager 1,110
Prepaid expenses 16,789
Total assets 1,396,384,611
Liabilities  
Payable for:  
Investments purchased 7,683,234
Capital shares purchased 3,119,617
Management services fees 29,396
Distribution and/or service fees 3,401
Transfer agent fees 112,371
Compensation of board members 165,981
Compensation of chief compliance officer 268
Other expenses 63,566
Total liabilities 11,177,834
Net assets applicable to outstanding capital stock $1,385,206,777
Represented by  
Paid in capital 1,563,783,494
Total distributable earnings (loss) (178,576,717)
Total - representing net assets applicable to outstanding capital stock $1,385,206,777
The accompanying Notes to Financial Statements are an integral part of this statement.
14 Columbia Convertible Securities Fund  | Annual Report 2023

Statement of Assets and Liabilities  (continued)
February 28, 2023
Class A  
Net assets $311,254,270
Shares outstanding 16,073,758
Net asset value per share $19.36
Maximum sales charge 5.75%
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) $20.54
Advisor Class  
Net assets $108,831,397
Shares outstanding 5,531,111
Net asset value per share $19.68
Class C  
Net assets $45,630,724
Shares outstanding 2,369,817
Net asset value per share $19.25
Institutional Class  
Net assets $642,404,148
Shares outstanding 33,094,320
Net asset value per share $19.41
Institutional 2 Class  
Net assets $159,146,265
Shares outstanding 8,103,239
Net asset value per share $19.64
Institutional 3 Class  
Net assets $116,902,520
Shares outstanding 5,878,646
Net asset value per share $19.89
Class R  
Net assets $1,037,453
Shares outstanding 53,649
Net asset value per share $19.34
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Convertible Securities Fund  | Annual Report 2023
15

Statement of Operations
Year Ended February 28, 2023
Net investment income  
Income:  
Dividends — unaffiliated issuers $19,405,142
Dividends — affiliated issuers 467,264
Interest 27,752,124
Interfund lending 1,153
Total income 47,625,683
Expenses:  
Management services fees 12,167,755
Distribution and/or service fees  
Class A 857,087
Class C 576,359
Class R 5,575
Transfer agent fees  
Class A 354,499
Advisor Class 135,132
Class C 59,519
Institutional Class 848,355
Institutional 2 Class 82,081
Institutional 3 Class 6,953
Class R 1,155
Compensation of board members 31,236
Custodian fees 12,738
Printing and postage fees 113,000
Registration fees 155,416
Audit fees 30,090
Legal fees 34,165
Interest on interfund lending 348
Compensation of chief compliance officer 259
Other 38,677
Total expenses 15,510,399
Fees waived or expenses reimbursed by Investment Manager and its affiliates (351,608)
Fees waived by transfer agent  
Institutional 2 Class (9,000)
Institutional 3 Class (1,911)
Expense reduction (500)
Total net expenses 15,147,380
Net investment income 32,478,303
Realized and unrealized gain (loss) — net  
Net realized gain (loss) on:  
Investments — unaffiliated issuers (24,737,637)
Investments — affiliated issuers 2,972
Foreign currency translations (5,160)
Net realized loss (24,739,825)
Net change in unrealized appreciation (depreciation) on:  
Investments — unaffiliated issuers (229,316,128)
Investments — affiliated issuers (50)
Foreign currency translations (857)
Net change in unrealized appreciation (depreciation) (229,317,035)
Net realized and unrealized loss (254,056,860)
Net decrease in net assets resulting from operations $(221,578,557)
The accompanying Notes to Financial Statements are an integral part of this statement.
16 Columbia Convertible Securities Fund  | Annual Report 2023

Statement of Changes in Net Assets
  Year Ended
February 28, 2023
Year Ended
February 28, 2022
Operations    
Net investment income $32,478,303 $25,553,826
Net realized gain (loss) (24,739,825) 347,910,870
Net change in unrealized appreciation (depreciation) (229,317,035) (597,684,416)
Net decrease in net assets resulting from operations (221,578,557) (224,219,720)
Distributions to shareholders    
Net investment income and net realized gains    
Class A (30,233,550) (99,541,078)
Advisor Class (11,773,057) (42,828,942)
Class C (4,831,018) (17,238,856)
Institutional Class (79,882,753) (257,850,064)
Institutional 2 Class (11,497,200) (45,510,274)
Institutional 3 Class (6,548,066) (24,603,005)
Class R (97,258) (316,475)
Total distributions to shareholders (144,862,902) (487,888,694)
Increase (decrease) in net assets from capital stock activity (293,613,385) 64,917,630
Total decrease in net assets (660,054,844) (647,190,784)
Net assets at beginning of year 2,045,261,621 2,692,452,405
Net assets at end of year $1,385,206,777 $2,045,261,621
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Convertible Securities Fund  | Annual Report 2023
17

Statement of Changes in Net Assets   (continued)
  Year Ended Year Ended
  February 28, 2023 February 28, 2022
  Shares Dollars ($) Shares Dollars ($)
Capital stock activity
Class A        
Subscriptions 3,153,106 65,292,546 3,228,830 92,003,782
Distributions reinvested 1,184,593 21,996,997 2,846,504 75,156,224
Redemptions (5,666,325) (113,479,702) (6,914,880) (191,621,486)
Net decrease (1,328,626) (26,190,159) (839,546) (24,461,480)
Advisor Class        
Subscriptions 2,222,378 45,927,621 3,734,410 109,600,435
Distributions reinvested 620,792 11,742,400 1,602,315 42,763,655
Redemptions (4,655,942) (95,824,377) (5,156,959) (145,063,892)
Net increase (decrease) (1,812,772) (38,154,356) 179,766 7,300,198
Class C        
Subscriptions 234,307 4,684,689 539,063 15,538,783
Distributions reinvested 236,326 4,340,270 592,034 15,484,137
Redemptions (1,401,424) (28,094,414) (970,376) (26,782,063)
Net increase (decrease) (930,791) (19,069,455) 160,721 4,240,857
Institutional Class        
Subscriptions 12,948,975 268,707,523 13,759,425 391,569,803
Distributions reinvested 3,601,675 67,160,136 8,000,005 211,130,201
Redemptions (29,452,702) (592,154,282) (19,464,113) (535,994,990)
Net increase (decrease) (12,902,052) (256,286,623) 2,295,317 66,705,014
Institutional 2 Class        
Subscriptions 6,039,567 124,193,181 3,662,138 106,043,960
Distributions reinvested 539,086 10,201,158 1,571,227 41,882,441
Redemptions (5,966,797) (122,566,707) (5,017,678) (137,042,082)
Net increase 611,856 11,827,632 215,687 10,884,319
Institutional 3 Class        
Subscriptions 4,735,906 97,483,006 1,091,018 31,642,676
Distributions reinvested 305,995 5,862,118 904,559 24,378,433
Redemptions (3,343,490) (69,083,430) (2,002,471) (55,368,594)
Net increase (decrease) 1,698,411 34,261,694 (6,894) 652,515
Class R        
Subscriptions 9,048 181,071 24,002 659,851
Distributions reinvested 4,960 91,836 8,976 236,924
Redemptions (14,214) (275,025) (45,984) (1,300,568)
Net decrease (206) (2,118) (13,006) (403,793)
Total net increase (decrease) (14,664,180) (293,613,385) 1,992,045 64,917,630
The accompanying Notes to Financial Statements are an integral part of this statement.
18 Columbia Convertible Securities Fund  | Annual Report 2023

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Columbia Convertible Securities Fund  | Annual Report 2023
19

Financial Highlights
The following table is intended to help you understand the Fund’s financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund’s portfolio turnover rate may be higher.
  Net asset value,
beginning of
period
Net
investment
income
Net
realized
and
unrealized
gain (loss)
Total from
investment
operations
Distributions
from net
investment
income
Distributions
from net
realized
gains
Total
distributions to
shareholders
Class A
Year Ended 2/28/2023 $23.74 0.38 (2.93) (2.55) (0.39) (1.44) (1.83)
Year Ended 2/28/2022 $32.01 0.24 (2.84) (2.60) (0.22) (5.45) (5.67)
Year Ended 2/28/2021 $22.09 0.34 11.92 12.26 (0.44) (1.90) (2.34)
Year Ended 2/29/2020 $20.92 0.39 2.18 2.57 (0.50) (0.90) (1.40)
Year Ended 2/28/2019 $20.41 0.39 1.11 1.50 (0.40) (0.59) (0.99)
Advisor Class
Year Ended 2/28/2023 $24.09 0.43 (2.95) (2.52) (0.45) (1.44) (1.89)
Year Ended 2/28/2022 $32.40 0.32 (2.89) (2.57) (0.29) (5.45) (5.74)
Year Ended 2/28/2021 $22.34 0.41 12.06 12.47 (0.51) (1.90) (2.41)
Year Ended 2/29/2020 $21.14 0.45 2.20 2.65 (0.55) (0.90) (1.45)
Year Ended 2/28/2019 $20.61 0.44 1.13 1.57 (0.45) (0.59) (1.04)
Class C
Year Ended 2/28/2023 $23.60 0.22 (2.89) (2.67) (0.24) (1.44) (1.68)
Year Ended 2/28/2022 $31.88 0.03 (2.85) (2.82) (0.01) (5.45) (5.46)
Year Ended 2/28/2021 $22.00 0.15 11.89 12.04 (0.26) (1.90) (2.16)
Year Ended 2/29/2020 $20.84 0.23 2.17 2.40 (0.34) (0.90) (1.24)
Year Ended 2/28/2019 $20.33 0.23 1.12 1.35 (0.25) (0.59) (0.84)
Institutional Class
Year Ended 2/28/2023 $23.79 0.43 (2.92) (2.49) (0.45) (1.44) (1.89)
Year Ended 2/28/2022 $32.08 0.31 (2.86) (2.55) (0.29) (5.45) (5.74)
Year Ended 2/28/2021 $22.13 0.41 11.95 12.36 (0.51) (1.90) (2.41)
Year Ended 2/29/2020 $20.96 0.45 2.17 2.62 (0.55) (0.90) (1.45)
Year Ended 2/28/2019 $20.44 0.44 1.12 1.56 (0.45) (0.59) (1.04)
Institutional 2 Class
Year Ended 2/28/2023 $24.05 0.46 (2.97) (2.51) (0.46) (1.44) (1.90)
Year Ended 2/28/2022 $32.36 0.33 (2.88) (2.55) (0.31) (5.45) (5.76)
Year Ended 2/28/2021 $22.31 0.43 12.04 12.47 (0.52) (1.90) (2.42)
Year Ended 2/29/2020 $21.12 0.47 2.18 2.65 (0.56) (0.90) (1.46)
Year Ended 2/28/2019 $20.59 0.45 1.14 1.59 (0.47) (0.59) (1.06)
The accompanying Notes to Financial Statements are an integral part of this statement.
20 Columbia Convertible Securities Fund  | Annual Report 2023

Financial Highlights  (continued)
  Net
asset
value,
end of
period
Total
return
Total gross
expense
ratio to
average
net assets(a)
Total net
expense
ratio to
average
net assets(a),(b)
Net investment
income
ratio to
average
net assets
Portfolio
turnover
Net
assets,
end of
period
(000’s)
Class A
Year Ended 2/28/2023 $19.36 (10.29%) 1.14%(c) 1.12%(c),(d) 1.88% 59% $311,254
Year Ended 2/28/2022 $23.74 (9.04%) 1.10%(c) 1.10%(c),(d) 0.83% 92% $413,074
Year Ended 2/28/2021 $32.01 58.37% 1.12%(c) 1.12%(c),(d) 1.32% 98% $584,015
Year Ended 2/29/2020 $22.09 12.55% 1.17%(c) 1.12%(c),(d) 1.81% 74% $317,365
Year Ended 2/28/2019 $20.92 7.70% 1.20%(c) 1.13%(c),(d) 1.88% 60% $286,075
Advisor Class
Year Ended 2/28/2023 $19.68 (10.04%) 0.89%(c) 0.87%(c),(d) 2.10% 59% $108,831
Year Ended 2/28/2022 $24.09 (8.82%) 0.85%(c) 0.85%(c),(d) 1.08% 92% $176,880
Year Ended 2/28/2021 $32.40 58.75% 0.88%(c) 0.88%(c),(d) 1.55% 98% $232,118
Year Ended 2/29/2020 $22.34 12.84% 0.92%(c) 0.87%(c),(d) 2.06% 74% $94,945
Year Ended 2/28/2019 $21.14 7.99% 0.95%(c) 0.88%(c),(d) 2.15% 60% $51,487
Class C
Year Ended 2/28/2023 $19.25 (10.94%) 1.89%(c) 1.87%(c),(d) 1.10% 59% $45,631
Year Ended 2/28/2022 $23.60 (9.76%) 1.85%(c) 1.85%(c),(d) 0.09% 92% $77,910
Year Ended 2/28/2021 $31.88 57.20% 1.87%(c) 1.87%(c),(d) 0.59% 98% $100,101
Year Ended 2/29/2020 $22.00 11.71% 1.92%(c) 1.87%(c),(d) 1.06% 74% $62,313
Year Ended 2/28/2019 $20.84 6.92% 1.95%(c) 1.88%(c),(d) 1.14% 60% $44,035
Institutional Class
Year Ended 2/28/2023 $19.41 (10.04%) 0.89%(c) 0.87%(c),(d) 2.09% 59% $642,404
Year Ended 2/28/2022 $23.79 (8.84%) 0.85%(c) 0.85%(c),(d) 1.09% 92% $1,094,312
Year Ended 2/28/2021 $32.08 58.81% 0.88%(c) 0.88%(c),(d) 1.57% 98% $1,401,886
Year Ended 2/29/2020 $22.13 12.81% 0.92%(c) 0.87%(c),(d) 2.06% 74% $733,400
Year Ended 2/28/2019 $20.96 8.00% 0.95%(c) 0.88%(c),(d) 2.13% 60% $544,140
Institutional 2 Class
Year Ended 2/28/2023 $19.64 (10.00%) 0.85%(c) 0.82%(c) 2.22% 59% $159,146
Year Ended 2/28/2022 $24.05 (8.77%) 0.80%(c) 0.79%(c) 1.14% 92% $180,150
Year Ended 2/28/2021 $32.36 58.89% 0.83%(c) 0.81%(c) 1.62% 98% $235,448
Year Ended 2/29/2020 $22.31 12.88% 0.87%(c) 0.81%(c) 2.13% 74% $92,233
Year Ended 2/28/2019 $21.12 8.07% 0.89%(c) 0.81%(c) 2.19% 60% $80,367
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Convertible Securities Fund  | Annual Report 2023
21

Financial Highlights  (continued)
  Net asset value,
beginning of
period
Net
investment
income
Net
realized
and
unrealized
gain (loss)
Total from
investment
operations
Distributions
from net
investment
income
Distributions
from net
realized
gains
Total
distributions to
shareholders
Institutional 3 Class
Year Ended 2/28/2023 $24.32 0.48 (3.00) (2.52) (0.47) (1.44) (1.91)
Year Ended 2/28/2022 $32.66 0.35 (2.92) (2.57) (0.32) (5.45) (5.77)
Year Ended 2/28/2021 $22.50 0.45 12.14 12.59 (0.53) (1.90) (2.43)
Year Ended 2/29/2020 $21.28 0.48 2.21 2.69 (0.57) (0.90) (1.47)
Year Ended 2/28/2019 $20.74 0.47 1.14 1.61 (0.48) (0.59) (1.07)
Class R
Year Ended 2/28/2023 $23.70 0.33 (2.91) (2.58) (0.34) (1.44) (1.78)
Year Ended 2/28/2022 $31.98 0.16 (2.85) (2.69) (0.14) (5.45) (5.59)
Year Ended 2/28/2021 $22.06 0.29 11.91 12.20 (0.38) (1.90) (2.28)
Year Ended 2/29/2020 $20.90 0.34 2.16 2.50 (0.44) (0.90) (1.34)
Year Ended 2/28/2019 $20.39 0.33 1.12 1.45 (0.35) (0.59) (0.94)
    
Notes to Financial Highlights
(a) In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios.
(b) Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.
(c) Ratios include interfund lending expense which is less than 0.01%.
(d) The benefits derived from expense reductions had an impact of less than 0.01%.
The accompanying Notes to Financial Statements are an integral part of this statement.
22 Columbia Convertible Securities Fund  | Annual Report 2023

Financial Highlights  (continued)
  Net
asset
value,
end of
period
Total
return
Total gross
expense
ratio to
average
net assets(a)
Total net
expense
ratio to
average
net assets(a),(b)
Net investment
income
ratio to
average
net assets
Portfolio
turnover
Net
assets,
end of
period
(000’s)
Institutional 3 Class
Year Ended 2/28/2023 $19.89 (9.93%) 0.80%(c) 0.78%(c) 2.36% 59% $116,903
Year Ended 2/28/2022 $24.32 (8.74%) 0.75%(c) 0.75%(c) 1.18% 92% $101,658
Year Ended 2/28/2021 $32.66 58.95% 0.78%(c) 0.77%(c) 1.74% 98% $136,747
Year Ended 2/29/2020 $22.50 12.97% 0.82%(c) 0.77%(c) 2.17% 74% $128,319
Year Ended 2/28/2019 $21.28 8.11% 0.84%(c) 0.76%(c) 2.25% 60% $100,142
Class R
Year Ended 2/28/2023 $19.34 (10.46%) 1.39%(c) 1.37%(c),(d) 1.65% 59% $1,037
Year Ended 2/28/2022 $23.70 (9.32%) 1.35%(c) 1.35%(c),(d) 0.57% 92% $1,277
Year Ended 2/28/2021 $31.98 58.04% 1.37%(c) 1.37%(c),(d) 1.13% 98% $2,138
Year Ended 2/29/2020 $22.06 12.23% 1.42%(c) 1.37%(c),(d) 1.56% 74% $1,900
Year Ended 2/28/2019 $20.90 7.44% 1.45%(c) 1.38%(c),(d) 1.63% 60% $2,337
The accompanying Notes to Financial Statements are an integral part of this statement.
Columbia Convertible Securities Fund  | Annual Report 2023
23

Notes to Financial Statements
February 28, 2023
Note 1. Organization
Columbia Convertible Securities Fund (the Fund), a series of Columbia Funds Series Trust (the Trust), is a diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust.
Fund shares
The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust’s organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.
As described in the Fund’s prospectus, Class A and Class C shares are offered to the general public for investment. Class C shares automatically convert to Class A shares after 8 years. Advisor Class, Institutional Class, Institutional 2 Class, Institutional 3 Class and Class R shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund’s prospectus.
Note 2. Summary of significant accounting policies
Basis of preparation
The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, Financial Services - Investment Companies (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.
Security valuation
Equity securities listed on an exchange are valued at the closing price or last trade price on their primary exchange at the close of business of the New York Stock Exchange. Securities with a closing price not readily available or not listed on any exchange are valued at the mean between the closing bid and ask prices. Listed preferred stocks convertible into common stocks are valued using an evaluated price from a pricing service.
Debt securities generally are valued based on prices obtained from pricing services, which are intended to reflect market transactions for normal, institutional-size trading units of similar securities. The services may use various pricing techniques that take into account, as applicable, factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as approved independent broker-dealer quotes. Debt securities for which quotations are not readily available or not believed to be reflective of market value may also be valued based upon a bid quote from an approved independent broker-dealer. Debt securities maturing in 60 days or less are valued primarily at amortized market value, unless this method results in a valuation that management believes does not approximate fair value.
Foreign equity securities are valued based on the closing price or last trade price on their primary exchange at the close of business of the New York Stock Exchange. If any foreign equity security closing prices are not readily available, the securities are valued at the mean of the latest quoted bid and ask prices on such exchanges or markets. Foreign currency exchange rates are determined at the scheduled closing time of the New York Stock Exchange. Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange; therefore, the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. In those situations, foreign securities will be fair valued pursuant to a policy approved by the Board of Trustees. Under the policy, the Fund may utilize a third-party pricing service to determine these fair values. The
24 Columbia Convertible Securities Fund  | Annual Report 2023

Notes to Financial Statements  (continued)
February 28, 2023
third-party pricing service takes into account multiple factors, including, but not limited to, movements in the U.S. securities markets, certain depositary receipts, futures contracts and foreign exchange rates that have occurred subsequent to the close of the foreign exchange or market, to determine a good faith estimate that reasonably reflects the current market conditions as of the close of the New York Stock Exchange. The fair value of a security is likely to be different from the quoted or published price, if available.
Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.
Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.
The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.
GAAP requires 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. This information is disclosed following the Fund’s Portfolio of Investments.
Foreign currency transactions and translations
The values of all assets and liabilities denominated in foreign currencies are generally translated into U.S. dollars at exchange rates determined at the close of regular trading on the New York Stock Exchange. Net realized and unrealized gains (losses) on foreign currency transactions and translations include gains (losses) arising from the fluctuation in exchange rates between trade and settlement dates on securities transactions, gains (losses) arising from the disposition of foreign currency and currency gains (losses) between the accrual and payment dates on dividends, interest income and foreign withholding taxes.
For financial statement purposes, the Fund does not distinguish that portion of gains (losses) on investments which is due to changes in foreign exchange rates from that which is due to changes in market prices of the investments. Such fluctuations are included with the net realized and unrealized gains (losses) on investments in the Statement of Operations.
Security transactions
Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.
Income recognition
Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted. For convertible securities, premiums attributable to the conversion feature are not amortized.
The Fund may place a debt security on non-accrual status and reduce related interest income when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. The Fund may also adjust accrual rates when it becomes probable the full interest will not be collected and a partial payment will be received. A defaulted debt security is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.
Corporate actions and dividend income are generally recorded net of any non-reclaimable tax withholdings, on the ex-dividend date or upon receipt of an ex-dividend notification in the case of certain foreign securities.
Columbia Convertible Securities Fund  | Annual Report 2023
25

Notes to Financial Statements  (continued)
February 28, 2023
The Fund may receive distributions from holdings in equity securities, business development companies (BDCs), exchange-traded funds (ETFs), limited partnerships (LPs), other regulated investment companies (RICs), and real estate investment trusts (REITs), which report information as to the tax character of their distributions annually. These distributions are allocated to dividend income, capital gain and return of capital based on actual information reported. Return of capital is recorded as a reduction of the cost basis of securities held. If the Fund no longer owns the applicable securities, return of capital is recorded as a realized gain. With respect to REITs, to the extent actual information has not yet been reported, estimates for return of capital are made by Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). The Investment Manager’s estimates are subsequently adjusted when the actual character of the distributions is disclosed by the REITs, which could result in a proportionate change in return of capital to shareholders.
Awards from class action litigation are recorded as a reduction of cost basis if the Fund still owns the applicable securities on the payment date. If the Fund no longer owns the applicable securities on the payment date, the proceeds are recorded as realized gains.
Expenses
General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.
Determination of class net asset value
All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.
Federal income tax status
The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.
Distributions to shareholders
Distributions from net investment income, if any, are declared and paid each calendar quarter. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.
Guarantees and indemnifications
Under the Trust’s organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund’s contracts with its service providers contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.
Recent accounting pronouncement
Tailored Shareholder Reports
In October 2022, the Securities and Exchange Commission (SEC) adopted a final rule relating to Tailored Shareholder Reports for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements. The rule and form amendments will, among other things, require the Fund to transmit concise and visually engaging shareholder reports that highlight key information. The amendments will require that funds tag information in a structured data format and that
26 Columbia Convertible Securities Fund  | Annual Report 2023

Notes to Financial Statements  (continued)
February 28, 2023
certain more in-depth information be made available online and available for delivery free of charge to investors on request. The amendments became effective January 24, 2023. There is an 18-month transition period after the effective date of the amendment.
Note 3. Fees and other transactions with affiliates
Management services fees
The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice, as well as administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund’s daily net assets that declines from 0.82% to 0.65% as the Fund’s net assets increase. The effective management services fee rate for the year ended February 28, 2023 was 0.76% of the Fund’s average daily net assets.
Compensation of board members
Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund’s liability for these amounts is adjusted for market value changes and remains in the Fund until distributed in accordance with the Deferred Plan. All amounts payable under the Deferred Plan constitute a general unsecured obligation of the Fund. The expense for the Deferred Plan, which includes Trustees’ fees deferred during the current period as well as any gains or losses on the Trustees’ deferred compensation balances as a result of market fluctuations, is included in "Compensation of board members" in the Statement of Operations.
Compensation of Chief Compliance Officer
The Board of Trustees has appointed a Chief Compliance Officer for the Fund in accordance with federal securities regulations. As disclosed in the Statement of Operations, a portion of the Chief Compliance Officer’s total compensation is allocated to the Fund, along with other allocations to affiliated registered investment companies managed by the Investment Manager and its affiliates, based on relative net assets.
Transfer agency fees
Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. Prior to January 1, 2023, SS&C GIDS was known as DST Asset Manager Solutions, Inc. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).
The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund’s shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.
The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class. In addition, prior to July 1, 2022, Institutional 2 Class shares were subject to a contractual transfer agency fee annual limitation of not more than 0.04% and Institutional 3 Class shares were subject to a contractual transfer agency fee annual limitation of not more than 0.00% of the average daily net assets attributable to each share class.
Columbia Convertible Securities Fund  | Annual Report 2023
27

Notes to Financial Statements  (continued)
February 28, 2023
For the year ended February 28, 2023, the Fund’s effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:
  Effective rate (%)
Class A 0.10
Advisor Class 0.10
Class C 0.10
Institutional Class 0.10
Institutional 2 Class 0.05
Institutional 3 Class 0.01
Class R 0.10
An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class’s initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the year ended February 28, 2023, these minimum account balance fees reduced total expenses of the Fund by $500.
Distribution and service fees
The Fund has entered into an agreement with Columbia Management Investment Distributors, Inc. (the Distributor), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, for distribution and shareholder services. The Board of Trustees has approved, and the Fund has adopted, distribution and shareholder service plans (the Plans) applicable to certain share classes, which set the distribution and service fees for the Fund. These fees are calculated daily and are intended to compensate the Distributor and/or eligible selling and/or servicing agents for selling shares of the Fund and providing services to investors.
Under the Plans, the Fund pays a monthly combined distribution and service fee to the Distributor at the maximum annual rate of 0.25% of the average daily net assets attributable to Class A shares of the Fund. Also under the Plans, the Fund pays a monthly service fee to the Distributor at the maximum annual rate of 0.25% of the average daily net assets attributable to Class C shares of the Fund and a monthly distribution fee to the Distributor at the maximum annual rates of 0.75% and 0.50% of the average daily net assets attributable to Class C and Class R shares of the Fund, respectively.
Sales charges (unaudited)
Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the year ended February 28, 2023, if any, are listed below:
  Front End (%) CDSC (%) Amount ($)
Class A 5.75 0.50 - 1.00(a) 150,079
Class C 1.00(b) 5,004
    
(a) This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.
(b) This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.
The Fund’s other share classes are not subject to sales charges.
28 Columbia Convertible Securities Fund  | Annual Report 2023

Notes to Financial Statements  (continued)
February 28, 2023
Expenses waived/reimbursed by the Investment Manager and its affiliates
The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund’s net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund’s custodian, do not exceed the following annual rate(s) as a percentage of the classes’ average daily net assets:
  July 1, 2022
through
June 30, 2023
Prior to
July 1, 2022
Class A 1.12% 1.12%
Advisor Class 0.87 0.87
Class C 1.87 1.87
Institutional Class 0.87 0.87
Institutional 2 Class 0.82 0.81
Institutional 3 Class 0.78 0.77
Class R 1.37 1.37
Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. Reflected in the contractual cap commitments, prior to July 1, 2022, is the Transfer Agent’s contractual agreement to limit total transfer agency fees to an annual rate of not more than 0.04% for Institutional 2 Class and 0.00% for Institutional 3 Class of the average daily net assets attributable to each share class. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.
Note 4. Federal tax information
The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.
At February 28, 2023, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, investments in certain convertible securities, deemed distributions, capital loss carryforwards, trustees’ deferred compensation, foreign currency transactions and distribution reclassifications. To the extent these differences were permanent, reclassifications were made among the components of the Fund’s net assets. Temporary differences do not require reclassifications.
The following reclassifications were made:
Undistributed net
investment
income ($)
Accumulated
net realized
(loss) ($)
Paid in
capital ($)
2,870,779 (2,870,779)
Net investment income (loss) and net realized gains (losses), as disclosed in the Statement of Operations, and net assets were not affected by this reclassification.
Columbia Convertible Securities Fund  | Annual Report 2023
29

Notes to Financial Statements  (continued)
February 28, 2023
The tax character of distributions paid during the years indicated was as follows:
Year Ended February 28, 2023 Year Ended February 28, 2022
Ordinary
income ($)
Long-term
capital gains ($)
Total ($) Ordinary
income ($)
Long-term
capital gains ($)
Total ($)
33,923,770 110,939,132 144,862,902 92,206,745 395,681,950 487,888,695
Short-term capital gain distributions, if any, are considered ordinary income distributions for tax purposes.
At February 28, 2023, the components of distributable earnings on a tax basis were as follows:
Undistributed
ordinary income ($)
Undistributed
long-term
capital gains ($)
Capital loss
carryforwards ($)
Net unrealized
(depreciation) ($)
8,502,318 (52,864,954) (134,049,130)
At February 28, 2023, the cost of all investments for federal income tax purposes along with the aggregate gross unrealized appreciation and depreciation based on that cost was:
Federal
tax cost ($)
Gross unrealized
appreciation ($)
Gross unrealized
(depreciation) ($)
Net unrealized
(depreciation) ($)
1,494,968,162 62,400,159 (196,449,289) (134,049,130)
Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.
The following capital loss carryforwards, determined at February 28, 2023, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code. In addition, for the year ended February 28, 2023, capital loss carryforwards utilized, if any, were as follows:
No expiration
short-term ($)
No expiration
long-term ($)
Total ($) Utilized ($)
(52,864,954) (52,864,954)
Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management’s conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund’s federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.
Note 5. Portfolio information
The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $938,678,487 and $1,380,645,858, respectively, for the year ended February 28, 2023. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.
Note 6. Affiliated money market fund
The Fund invests in Columbia Short-Term Cash Fund, an affiliated money market fund established for the exclusive use by the Fund and other affiliated funds (the Affiliated MMF). The income earned by the Fund from such investments is included as Dividends - affiliated issuers in the Statement of Operations. As an investing fund, the Fund indirectly bears its proportionate share of the expenses of the Affiliated MMF. The Affiliated MMF prices its shares with a floating net asset value. In addition, the Board of Trustees of the Affiliated MMF may impose a fee on redemptions (sometimes referred to as a liquidity fee) or temporarily suspend redemptions (sometimes referred to as imposing a redemption gate) in the event its liquidity falls below regulatory limits.
30 Columbia Convertible Securities Fund  | Annual Report 2023

Notes to Financial Statements  (continued)
February 28, 2023
Note 7. Interfund lending
Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Fund participates in a program (the Interfund Program) allowing each participating Columbia Fund (each, a Participating Fund) to lend money directly to and, except for closed-end funds and money market funds, borrow money directly from other Participating Funds for temporary purposes. The amounts eligible for borrowing and lending under the Interfund Program are subject to certain restrictions.
Interfund loans are subject to the risk that the borrowing fund could be unable to repay the loan when due, and a delay in repayment to the lending fund could result in lost opportunities and/or additional lending costs. The exemptive order is subject to conditions intended to mitigate conflicts of interest arising from the Investment Manager’s relationship with each Participating Fund.
The Fund’s activity in the Interfund Program during the year ended February 28, 2023 was as follows:
Borrower or lender Average loan
balance ($)
Weighted average
interest rate (%)
Number of days
with outstanding loans
Borrower 1,000,000 3.26 3
Lender 3,300,000 3.85 3
Interest income earned and interest expense incurred by the Fund is recorded as Interfund lending in the Statement of Operations. The Fund had no outstanding interfund loans at February 28, 2023.
Note 8. Line of credit
The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 27, 2022 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $950 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus in each case, 1.00%. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 27, 2022 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $950 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.11448% and (iii) the overnight bank funding rate, plus in each case, 1.00%.
The Fund had no borrowings during the year ended February 28, 2023.
Note 9. Significant risks
Convertible securities risk
Convertible securities are subject to the usual risks associated with debt instruments, such as interest rate risk and credit risk. Convertible securities also react to changes in the value of the common stock into which they convert, and are thus subject to market risk. The Fund may also be forced to convert a convertible security at an inopportune time, which may decrease the Fund’s return.
Columbia Convertible Securities Fund  | Annual Report 2023
31

Notes to Financial Statements  (continued)
February 28, 2023
Credit risk
Credit risk is the risk that the value of debt instruments in the Fund’s portfolio may decline because the issuer defaults or otherwise becomes unable or unwilling, or is perceived to be unable or unwilling, to honor its financial obligations, such as making payments to the Fund when due. Credit rating agencies assign credit ratings to certain debt instruments to indicate their credit risk. Lower-rated or unrated debt instruments held by the Fund may present increased credit risk as compared to higher-rated debt instruments.
Interest rate risk
Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if interest rates rise, the values of debt instruments tend to fall, and if interest rates fall, the values of debt instruments tend to rise. Actions by governments and central banking authorities can result in increases or decreases in interest rates. Higher periods of inflation could lead such authorities to raise interest rates. Increasing interest rates may negatively affect the value of debt securities held by the Fund, resulting in a negative impact on the Fund’s performance and net asset value per share. In general, the longer the maturity or duration of a debt security, the greater its sensitivity to changes in interest rates. The Fund is subject to the risk that the income generated by its investments may not keep pace with inflation.
Liquidity risk
Liquidity risk is the risk associated with a lack of marketability of investments which may make it difficult to sell the investment at a desirable time or price. Changing regulatory, market or other conditions or environments (for example, the interest rate or credit environments) may adversely affect the liquidity of the Fund’s investments. The Fund may have to accept a lower selling price for the holding, sell other investments, or forego another, more appealing investment opportunity. Generally, the less liquid the market at the time the Fund sells a portfolio investment, the greater the risk of loss or decline of value to the Fund. A less liquid market can lead to an increase in Fund redemptions, which may negatively impact Fund performance and net asset value per share, including, for example, if the Fund is forced to sell securities in a down market.
Market risk
The Fund may incur losses due to declines in the value of one or more securities in which it invests. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the Fund’s ability to price or value hard-to-value assets in thinly traded and closed markets and could cause significant redemptions and operational challenges. Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.
The large-scale invasion of Ukraine by Russia in February 2022 has resulted in sanctions and market disruptions, including declines in regional and global stock markets, unusual volatility in global commodity markets and significant devaluations of Russian currency. The extent and duration of the military action are impossible to predict but could be significant. Market disruption caused by the Russian military action, and any counter-measures or responses thereto (including international sanctions, a downgrade in the country’s credit rating, purchasing and financing restrictions, boycotts, tariffs, changes in consumer or purchaser preferences, cyberattacks and espionage) could have severe adverse impacts on regional and/or global securities and commodities markets, including markets for oil and natural gas. These impacts may include reduced market liquidity, distress in credit markets, further disruption of global supply chains, increased risk of inflation, and limited access to investments in certain international markets and/or issuers. These developments and other related events could negatively impact Fund performance.
32 Columbia Convertible Securities Fund  | Annual Report 2023

Notes to Financial Statements  (continued)
February 28, 2023
Shareholder concentration risk
At February 28, 2023, two unaffiliated shareholders of record owned 24.1% of the outstanding shares of the Fund in one or more accounts. The Fund has no knowledge about whether any portion of those shares was owned beneficially. Affiliated shareholders of record owned 24.5% of the outstanding shares of the Fund in one or more accounts. Subscription and redemption activity by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.
Note 10. Subsequent events
Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosure.
Note 11. Information regarding pending and settled legal proceedings
Ameriprise Financial and certain of its affiliates are involved in the normal course of business in legal proceedings which include regulatory inquiries, arbitration and litigation, including class actions concerning matters arising in connection with the conduct of their activities as part of a diversified financial services firm. Ameriprise Financial believes that the Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund. Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as necessary, 8-K filings with the Securities and Exchange Commission (SEC) on legal and regulatory matters that relate to Ameriprise Financial and its affiliates. Copies of these filings may be obtained by accessing the SEC website at www.sec.gov.
There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased Fund redemptions, reduced sale of Fund shares or other adverse consequences to the Fund. Further, although we believe proceedings are not likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund, these proceedings are subject to uncertainties and, as such, we are unable to estimate the possible loss or range of loss that may result. An adverse outcome in one or more of these proceedings could result in adverse judgments, settlements, fines, penalties or other relief that could have a material adverse effect on the consolidated financial condition or results of operations of Ameriprise Financial or one or more of its affiliates that provides services to the Fund.
Columbia Convertible Securities Fund  | Annual Report 2023
33

Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Columbia Funds Series Trust and Shareholders of Columbia Convertible Securities Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Convertible Securities Fund (one of the funds constituting Columbia Funds Series Trust, referred to hereafter as the "Fund") as of February 28, 2023, the related statement of operations for the year ended February 28, 2023, the statement of changes in net assets for each of the two years in the period ended February 28, 2023, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2023 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 28, 2023, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 28, 2023 and the financial highlights for each of the five years in the period ended February 28, 2023 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2023 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinion.
/s/PricewaterhouseCoopers LLP
Minneapolis, Minnesota
April 21, 2023
We have served as the auditor of one or more investment companies within the Columbia Funds Complex since 1977.
34 Columbia Convertible Securities Fund  | Annual Report 2023

 Federal Income Tax Information
(Unaudited)
The Fund hereby designates the following tax attributes for the fiscal year ended February 28, 2023. Shareholders will be notified in early 2024 of the amounts for use in preparing 2023 income tax returns.
Qualified
dividend
income
Dividends
received
deduction
Section
199A
dividends
33.14% 30.31% 1.09%
Qualified dividend income. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents qualified dividend income subject to reduced tax rates.
Dividends received deduction. The percentage of ordinary income distributed during the fiscal year that qualifies for the corporate dividends received deduction.
Section 199A dividends. For taxable, non-corporate shareholders, the percentage of ordinary income distributed during the fiscal year that represents Section 199A dividends potentially eligible for a 20% deduction.
 TRUSTEES AND OFFICERS
(Unaudited)
The Board oversees the Fund’s operations and appoints officers who are responsible for day-to-day business decisions based on policies set by the Board. The following table provides basic biographical information about the Fund’s Trustees as of the printing of this report, including their principal occupations during the past five years, although specific titles for individuals may have varied over the period. The year set forth beneath Length of Service in the table below is the year in which the Trustee was first appointed or elected as Trustee to any Fund currently in the Columbia Funds Complex or a predecessor thereof. Under current Board policy, each Trustee generally serves until December 31 of the year such Trustee turns seventy-five (75).
Independent trustees
Name,
address,
year of birth
Position held
with the Columbia Funds and
length of service
Principal occupation(s)
during past five years
and other relevant
professional experience
Number of
Funds in the
Columbia Funds
Complex*
overseen
Other directorships
held by Trustee
during the past
five years
George S. Batejan
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1954
Trustee since 2017 Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 176 Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994
Columbia Convertible Securities Fund  | Annual Report 2023
35

TRUSTEES AND OFFICERS  (continued)
(Unaudited)
Independent trustees  (continued)
Name,
address,
year of birth
Position held
with the Columbia Funds and
length of service
Principal occupation(s)
during past five years
and other relevant
professional experience
Number of
Funds in the
Columbia Funds
Complex*
overseen
Other directorships
held by Trustee
during the past
five years
Kathleen Blatz
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1954
Trustee since 2006 Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 176 Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021
Pamela G. Carlton
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1954
Chair since 2023; Trustee since 2007 President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 176 Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021
Janet Langford Carrig
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1957
Trustee since 1996 Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 174 Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022
J. Kevin Connaughton
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1964
Trustee since 2020 CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 174 Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017
36 Columbia Convertible Securities Fund  | Annual Report 2023

TRUSTEES AND OFFICERS  (continued)
(Unaudited)
Independent trustees  (continued)
Name,
address,
year of birth
Position held
with the Columbia Funds and
length of service
Principal occupation(s)
during past five years
and other relevant
professional experience
Number of
Funds in the
Columbia Funds
Complex*
overseen
Other directorships
held by Trustee
during the past
five years
Olive M. Darragh
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1962
Trustee since 2020 Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 174 Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation
Patricia M. Flynn
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1950
Trustee since 2004 Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 176 Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019
Brian J. Gallagher
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1954
Trustee since 2017 Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 176 Trustee, Catholic Schools Foundation, since 2004
Douglas A. Hacker
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1955
Trustee since 1996 Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 176 Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019
Nancy T. Lukitsh
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1956
Trustee since 2011 Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 174 None
Columbia Convertible Securities Fund  | Annual Report 2023
37

TRUSTEES AND OFFICERS  (continued)
(Unaudited)
Independent trustees  (continued)
Name,
address,
year of birth
Position held
with the Columbia Funds and
length of service
Principal occupation(s)
during past five years
and other relevant
professional experience
Number of
Funds in the
Columbia Funds
Complex*
overseen
Other directorships
held by Trustee
during the past
five years
David M. Moffett
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1952
Trustee since 2011 Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank 174 Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group
Catherine James Paglia
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1952
Trustee since 2004 Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. 176 Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee)
Natalie A. Trunow
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1967
Trustee since 2020 Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 174 Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019
Sandra L. Yeager
c/o Columbia Management
Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
1964
Trustee since 2017 Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 176 Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022
38 Columbia Convertible Securities Fund  | Annual Report 2023