UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number 811-3178

RIVERSOURCE BOND SERIES, INC.

(Exact name of registrant as specified in charter)

50606 Ameriprise Financial Center, Minneapolis, Minnesota	55474
(Address of principal executive offices)	(Zip code)

Scott R. Plummer — 5228 Ameriprise Financial Center, Minneapolis, MN 55474

(Name and address of agent for service)

Registrant’s telephone number, including area code: (612) 671-1947

Date of fiscal year end: July 31

Date of reporting period: October 31, 2010

Item 1. Schedule of Investments

Portfolio of Investments
Columbia Floating Rate Fund
Oct. 31, 2010 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Senior Loans (91.5%)(j)

	Coupon			Principal
Borrower	rate			amount		Value(a)
Aerospace & Defense (1.1%)
Spirit Aerosystems, Inc.
Tranche B2 Term Loan
09-30-16		3.539	%	$	968,928	$	964,384
TASC, Inc.
Tranche B Term Loan
12-18-15		5.750			994,987		1,001,625
Triumph Group, Inc.
Term Loan
06-16-16		4.500			473,813		475,788
Wesco Aircraft Hardware Corp.
1st Lien Term Loan
09-30-13		2.510			690,621		684,288
Wesco Aircraft Hardware Corp.
2nd Lien Term Loan
03-28-14		6.010			997,333		989,853
Total							4,115,938
Airlines (1.7%)
Delta Air Lines, Inc.
2nd Lien Term Loan
04-30-14		3.539			1,019,544		983,860
Delta Air Lines, Inc.
Term Loan
09-27-13		8.750			1,487,487		1,503,418
United Air Lines, Inc.
Tranche B Term Loan
02-01-14		2.313			2,111,634		2,002,420
U.S. Airways Group, Inc.
Term Loan
03-21-14		2.788			2,052,000		1,835,268
Total							6,324,966
Automotive (1.7%)
Allison Transmission, Inc.
Term Loan
08-07-14		3.010-3.050			967,488		927,879
Delphi Holdings LLP
Tranche A1 Term Loan
10-06-14		5.284			466		466
Delphi Holdings LLP
Tranche A2 Term Loan
10-06-14		5.284			1,087		1,087

	Coupon		Principal
Borrower	rate		amount			Value(a)
Delphi Holdings LLP
Tranche B1A Term Loan
10-06-14		5.284		4,720	(p)		4,720
Delphi Holdings LLP
Tranche B2A Term Loan
10-06-14		5.284		11,013			11,013
Ford Motor Co.
Tranche B1 Term Loan
12-15-13		3.010-3.050		2,292,922			2,265,293
Goodyear Engineered Product
Delayed Draw Term Loan
07-31-14		2.760		145,875			126,774
Goodyear Engineered Product
Term Loan
07-31-14		2.760		1,018,498			885,136
Motorsports Aftermarket
Tranche B Term Loan
11-29-13		7.750		1,198,774			1,075,900
Plastech Engineered Products, Inc.
1st Lien Term Loan
02-13-13		0.000		237,286	(b,i,m)		35,593
Tenneco, Inc.
Tranche B Term Loan
06-03-16		5.039		448,875			449,997
The Goodyear Tire & Rubber Co.
2nd Lien Term Loan
04-30-14		2.210		670,000			648,225
Total							6,432,083
Banking (0.2%)
Fifth Third Processing Solutions
2nd Lien Term Loan
TBD	TBD			900,000	(f,k)		891,000
Brokerage (0.2%)
Nuveen Investments, Inc.
1st Lien Term Loan
11-13-14		3.288-3.289		1,000,000			934,440
Building Materials (1.1%)
Custom Building Products, Inc.
Term Loan
03-19-15		5.750		667,288			665,620
Goodman Global, Inc.
1st Lien Term Loan
TBD	TBD			950,000	(f,k)		961,742
Goodman Global, Inc.
2nd Lien Term Loan
TBD	TBD			850,000	(f,k)		871,250
Springs Window Fashions LLC
Tranche B Term Loan
12-31-12		3.063		969,100			919,027
The Hillman Group, Inc.
Term Loan
05-31-16		5.500		798,000			798,662
Total							4,216,301

	Coupon		Principal
Borrower	rate		amount			Value(a)
Chemicals (7.5%)
Brenntag Holding Gmbh & Co. KG
2nd Lien Term Loan
07-17-15		6.453		875,000	(c)		874,528
Brenntag Holding Gmbh & Co. KG
Tranche 1 Term Loan
01-20-14		4.006-4.477		143,227	(c)		143,406
Brenntag Holding Gmbh & Co. KG
Tranche B2 Term Loan
01-20-14		4.006-4.058		971,690	(c)		971,690
Celanese U.S. Holdings LLC
Term Loan
04-02-14		0.256-1.500		2,347,874			2,313,924
Celanese U.S. Holdings LLC
Tranche C Term Loan
10-31-16		3.290		695,057			698,206
Chemtura Corp.
Debtor In Possession
Term Loan
02-11-11		6.000		1,175,000	(h)		1,179,406
Cognis GMBH
Tranche C Term Loan
09-15-13		2.292		2,050,000	(c)		2,022,182
Hexion Specialty Chemicals, Inc.
Tranche C1B Term Loan
05-05-15		4.063		1,779,444			1,734,958
Hexion Specialty Chemicals, Inc.
Tranche C2B Term Loan
05-05-15		4.063		783,574			763,985
Huntsman International LLC
Tranche B Term Loan
04-19-14		1.773-1.788		376,714			368,238
Huntsman International LLC
Tranche C Term Loan
06-30-16		2.505-2.523		1,559,422			1,530,837
Ineos U.S. Finance LLC
Tranche A2 Term Loan
12-17-12		0.001-7.000		269,712			273,308
ISP Chemco LLC
Term Loan
06-04-14		1.813		984,733			965,038
Kraton Polymers LLC
Term Loan
05-12-13		2.313		203,556			199,825
LyondellBasell Industries
Term Loan
04-08-16		5.500		1,197,000			1,206,576
Millenium Chemicals
1st Lien Term Loan
05-15-14		2.539		1,148,450			1,104,430
Millenium Chemicals
2nd Lien Term Loan
11-15-14		6.039		1,100,000			1,040,875
Nalco Co.
Tranche B1 Term Loan
10-05-17		4.500		1,700,000			1,717,357
Nalco Co.
Tranche C1 Term Loan
05-13-16		2.007		150,000			148,970

	Coupon		Principal
Borrower	rate		amount			Value(a)
PQ Corp.
1st Lien Term Loan
TBD	TBD			100,000	(f,k)		95,594
07-30-14		3.510-3.540		1,028,591			983,271
Sabic Innovative Plastics Holding U.S. LP
Tranche B Term Loan
08-29-14		2.755		1,569,640			1,553,943
Solutia, Inc.
Term Loan
03-17-17		4.750		2,406,250			2,421,793
Styron S.A.R.L.
Term Loan
06-17-16		7.500		1,777,500	(c)		1,806,384
Univar, Inc.
Tranche B Term Loan
10-10-14		3.255		1,944,050			1,931,200
Total							28,049,924
Construction Machinery (0.5%)
NACCO Materials Handling Group, Inc.
Term Loan
03-21-13		2.005-2.373		957,500			888,081
The Manitowoc Co., Inc.
Tranche A Term Loan
11-06-13		5.313		1,140,065			1,136,144
Total							2,024,225
Consumer Cyclical Services (1.5%)
Affinion Group, Inc.
Tranche B Term Loan
10-09-16		5.000		746,250			738,168
Live Nation Entertainment, Inc.
Tranche B Term Loan
11-07-16		4.500		796,000			790,691
The ServiceMaster Co.
Delayed Draw Term Loan
07-24-14		2.760		133,775			127,128
The ServiceMaster Co.
Letter of Credit
07-24-14		0.164-2.600		2,075,000			1,946,184
The ServiceMaster Co.
Term Loan
07-24-14		2.760-2.800		1,343,324			1,276,574
West Corp.
Tranche B2 Term Loan
10-24-13		2.630-2.631		83,404			81,662
West Corp.
Tranche B4 Term Loan
07-15-16		4.505-4.506		581,666			578,484
West Corp.
Tranche B5 Term Loan
07-15-16		4.505-4.506		204,904			203,783
Total							5,742,674
Consumer Products (2.5%)
Amscan Holdings, Inc.
Term Loan
05-27-13		2.539		2,117,180			2,053,665

	Coupon		Principal
Borrower	rate		amount			Value(a)
Fender Musical Instruments Corp.
Delayed Draw Term Loan
06-09-14		2.550		704,655			598,957
Fender Musical Instruments Corp.
Term Loan
06-09-14		2.540		1,394,883			1,185,650
Jarden Corp.
Tranche B1 Term Loan
01-24-12		2.039		2,324			2,317
Jarden Corp.
Tranche B4 Term Loan
01-26-15		3.539		1,522,609			1,527,771
NBTY, Inc.
Tranche B Term Loan
TBD	TBD			1,300,000	(f,k)		1,316,237
Prestige Brands, Inc.
Term Loan
03-24-16		4.750		746,583			749,697
Visant Corp.
Tranche B Term Loan
12-22-16		7.000		750,000			756,188
Weight Watchers International, Inc.
Tranche B Term Loan
01-26-14		1.813		332,623			326,387
Weight Watchers International, Inc.
Tranche D Term Loan
06-30-16		2.563		737,922			732,387
Total							9,249,256
Diversified Manufacturing (2.7%)
Contech Construction Products, Inc.
Term Loan
01-31-13		4.250		2,100,724			1,813,618
Generac Acquisition Corp.
1st Lien Term Loan
11-10-13		2.754-2.790		700,457			664,853
GPX International Tire Corp.
Pay-in-Kind Term Loan
03-30-12		12.290		4,480	(l)		2,240
GPX International Tire Corp.
Tranche B Term Loan
03-30-12		5.290		274,379	(m)		137,190
Harland Clarke Holdings Corp.
Tranche B Term Loan
06-30-14		2.755-2.789		1,484,674			1,335,464
IMG Worldwide, Inc.
Tranche B Term Loan
06-15-15		7.250		1,546,125			1,527,278
N.E.W. Holdings I LLC
Term Loan
03-23-16		6.000		2,775,714			2,759,531
Pinafore LLC/Inc.
Tranche B Term Loan
09-29-16		6.750		550,000			555,709
RSC Holding III
2nd Lien Term Loan
11-30-13		3.800		1,365,375			1,335,337
Total							10,131,220

	Coupon		Principal
Borrower	rate		amount			Value(a)
Electric (5.0%)
Calpine Corp.
Term Loan
03-29-14		3.165		954,610			948,643
Coleto Creek Power LP
1st Lien Synthetic Letter of Credit
06-28-13		0.189-2.850		1,000,000			917,500
Coleto Creek Power LP
2nd Lien Term Loan
06-28-13		4.255		1,677,989			1,361,973
Dynegy Holdings, Inc.
Letter of Credit
04-02-13		4.010		1,163,993			1,146,137
Energy Future Holdings
Tranche B2 Term Loan
TBD	TBD			2,000,000	(f,k)		1,556,560
10-10-14		3.756-4.066		3,117,158			2,426,022
FirstLight Power Resources, Inc.
2nd Lien Term Loan
05-01-14		4.813		1,396,000			1,280,830
FirstLight Power Resources, Inc.
Synthetic Letter of Credit
11-01-13		0.163-2.650		17,967			16,889
FirstLight Power Resources, Inc.
Tranche B 1st Lien Term Loan
11-01-13		2.813		977,604			918,948
GeNon Energy, Inc./Americas
Term Loan
TBD	TBD			875,000	(f,k)		875,551
Great Point Power LLC
Term Loan
03-10-17		5.500		820,875			818,823
New Development Holdings LLC
Term Loan
07-03-17		7.000		798,000			812,300
NRG Energy, Inc.
Credit Linked Deposit
02-01-13		1.789		467			456
08-31-15		3.539		1,219,900			1,216,094
RRI Energy, Inc.
Letter of Credit
06-30-14		0.254-1.750		1,500,000			1,484,250
TPF Generation Holdings LLC
1st Lien Synthetic Letter of Credit
12-15-13		0.189-2.100		226,678			216,903
TPF Generation Holdings LLC
1st Lien Term Loan
12-15-13		2.289		552,814			528,977
TPF Generation Holdings LLC
2nd Lien Term Loan
12-15-14		4.539		2,525,000			2,307,219
TPF Generation Holdings LLC
Synthetic Revolving Term Loan
12-15-11		0.189-2.100		70,175			67,149
Total							18,901,224

	Coupon		Principal
Borrower	rate		amount			Value(a)
Entertainment (6.0%)
24 Hour Fitness Worldwide, Inc.
Tranche B Term Loan
04-22-16		6.750		1,945,125			1,851,117
AMC Entertainment, Inc.
Term Loan
01-28-13		1.755		994,778			981,299
Carmike Cinemas, Inc.
Term Loan
01-27-16		5.500		1,706,865			1,715,399
Cedar Fair LP
Term Loan
12-15-16		5.500		1,296,750			1,314,567
Cinemark USA, Inc.
Term Loan
04-30-16		3.510-3.650		1,568,960			1,571,470
HIT Entertainment, Inc.
2nd Lien Term Loan
02-26-13		5.940		9,167,017			6,783,593
Metro-Goldwyn-Mayer, Inc.
Tranche B Term Loan
04-09-12		20.500		1,990,986	(b)		920,214
Metro-Goldwyn-Mayer, Inc.
Tranche B1 Term Loan
04-09-12		20.500		1,776,740	(b)		821,192
National CineMedia LLC
Term Loan
02-13-15		2.050		875,000			851,489
Regal Cinemas Corp.
Term Loan
11-19-16		3.789		712,397			713,793
Six Flags Theme Parks, Inc.
2nd Lien Term Loan
12-31-16		9.500		325,000			335,806
Six Flags Theme Parks, Inc.
Tranche B 1st Lien Term Loan
06-30-16		6.000		774,026			776,371
Sunshine Acquisition Ltd.
Term Loan
06-01-12		5.685		2,558,597			2,479,715
Universal City Development Partners Ltd.
Term Loan
11-06-14		5.500		940,500			947,554
Total							22,063,579
Environmental (0.8%)
Covanta Energy Corp.
Letter of Credit
02-10-14		0.190-1.500		331,533			323,244
Covanta Energy Corp.
Term Loan
02-10-14		1.813-1.938		649,856			633,609
Synagro Technologies, Inc.
1st Lien Term Loan
04-02-14		2.260		2,238,064			1,935,926
Total							2,892,779

	Coupon		Principal
Borrower	rate		amount			Value(a)
Food and Beverage (4.2%)
Advantage Sales & Marketing, Inc.
1st Lien Term Loan
05-05-16		5.000		696,500			693,018
Aramark Corp.
1st Letter of Credit
01-26-14		0.104-2.025		66,004			64,071
Aramark Corp.
2nd Letter of Credit
07-26-16		0.104-3.400		118,894			117,936
Aramark Corp.
Term Loan
01-26-14		2.164		819,333			795,335
Aramark Corp.
Tranche B Term Loan
07-26-16		3.539		1,807,869			1,793,297
Constellation Brands, Inc.
Tranche B Term Loan
06-05-13		1.813		773,694			770,468
06-05-15		3.063		381,687			383,278
Dean Foods Co.
Tranche A Term Loan
TBD	TBD			2,375,000	(f,k)		2,358,137
Dole Food Co., Inc.
Tranche B1 Term Loan
03-02-17		5.000-5.500		609,745			612,507
Dole Food Co., Inc.
Tranche C1 Term Loan
03-02-17		5.000-5.500		1,514,454	(c)		1,521,315
LJVH Holdings, Inc.
Tranche B Term Loan
07-19-14		2.789		84,160			83,002
LJVH Holdings, Inc.
Tranche C Term Loan
07-19-14		2.789		11,476			11,319
Michael Foods Group, Inc.
Tranche B Term Loan
06-29-16		6.250		1,197,000			1,217,576
Pierre Foods, Inc.
1st Lien Term Loan
09-30-16		7.000-7.500		1,500,000			1,482,660
Pinnacle Foods Finance LLC
Term Loan
04-02-14		2.756		952,070			925,232
WM. Bolthouse Farms, Inc.
1st Lien Term Loan
02-11-16		5.500		1,741,250			1,746,143
WM. Bolthouse Farms, Inc.
2nd Lien Term Loan
08-11-16		9.500		1,000,000			1,008,750
Total							15,584,044
Gaming (2.9%)
Cannery Casino Resorts LLC
1st Lien Delayed Draw Term Loan
05-18-13		4.506		403,138			381,469

	Coupon		Principal
Borrower	rate		amount			Value(a)
Cannery Casino Resorts LLC
1st Lien Term Loan
05-17-13		4.506		487,523			461,319
Cannery Casino Resorts LLC
2nd Lien Term Loan
05-18-14		4.506		1,250,000			1,015,625
Golden Nugget, Inc.
2nd Lien Term Loan
12-31-14		3.510		2,025,000			911,250
Green Valley Ranch Gaming LLC
1st Lien Term Loan
02-16-14		6.000		795,716	(b,i)		604,577
Green Valley Ranch Gaming LLC
2nd Lien Term Loan
08-16-14		0.000		1,400,000	(b,i)		27,300
Greenwood Racing, Inc.
Term Loan
11-28-11		2.510		1,533,720			1,510,714
Harrah’s Operating Co., Inc.
Tranche B1 Term Loan
01-28-15		3.288		1,000,000			880,480
Harrahs Operating Co., Inc.
Tranche B4 Term Loan
10-31-16		9.500		2,007,325			2,086,234
Las Vegas Sands LLC
Tranche I Delayed Draw Term Loan
11-23-16		3.030		195,123			182,846
Las Vegas Sands LLC
Tranche B Term Loan
11-23-16		3.030		497,820			466,497
MGM Mirage
Tranche B Term Loan
10-03-11		6.000		441,285			440,253
Penn National Gaming, Inc.
Tranche B Term Loan
10-03-12		2.010-2.170		937,914			932,699
VML U.S. Finance LLC
Tranche B Term Loan
05-27-13		4.780		1,033,534			1,033,534
Total							10,934,797
Gas Pipelines (0.4%)
Calumet Lubricants Co. LP
Letter of Credit
01-03-15		0.141-4.000		195,402			186,609
Calumet Lubricants Co. LP
Term Loan
01-03-15		4.376		1,439,520			1,374,741
Total							1,561,350
Health Care (7.8%)
AGA Medical Corp.
Tranche B Term Loan
04-28-13		2.260-2.630		795,797			788,173
AMN Healthcare, Inc.
2nd Lien Term Loan
09-01-16		11.750		900,000			877,500

	Coupon		Principal
Borrower	rate		amount		Value(a)
AMN Healthcare, Inc.
Tranche B Term Loan
06-23-15		7.250		698,039		688,441
Ardent Medical Services, Inc.
Term Loan
09-15-15		6.500		1,815,875		1,805,670
Biomet, Inc.
Term Loan
03-25-15		3.255-3.289		729,214		718,523
Carestream Health
1st Lien Term Loan
04-30-13		2.255		897,831		877,486
Carestream Health
2nd Lien Term Loan
10-30-13		5.505		1,000,000		957,080
Caris Diagnostics, Inc.
Term Loan
01-29-16		7.250		868,926		853,719
Community Health Systems, Inc.
Delayed Draw Term Loan
07-25-14		2.549		125,869		123,719
Community Health Systems, Inc.
Term Loan
07-25-14		2.549		2,448,653		2,406,831
DaVita, Inc.
Tranche B Term Loan
10-20-16		4.500		1,900,000		1,918,050
DJO Finance LLC
Term Loan
05-20-14		3.255		812,033		793,762
Emdeon Business Services LLC
1st Lien Term Loan
11-18-13		2.260		1,687,714		1,653,960
Emdeon Business Services LLC
2nd Lien Term Loan
05-16-14		5.260		975,000		962,813
Hanger Orthopedic Group, Inc.
Tranche B Term Loan
05-26-13		2.260		1,196,875		1,190,388
HCA, Inc.
Tranche B1 Term Loan
11-18-13		2.539		1,798,659		1,761,787
Health Management Associates, Inc.
Tranche B Term Loan
02-28-14		2.039		759,351		742,857
Healthcare Partners LLC
Term Loan
10-31-13		2.049		667,908		659,980
Iasis Healthcare LLC
Delayed Draw Term Loan
03-14-14		2.255		375,081		364,766
Iasis Healthcare LLC
Synthetic Letter of Credit
03-14-14		0.154-2.100		95,998		93,358
Iasis Healthcare LLC
Term Loan
03-14-14		2.255		1,083,998		1,054,188

	Coupon		Principal
Borrower	rate		amount			Value(a)
Inverness Medical
1st Lien Term Loan
TBD	TBD			1,336,287	(f,k)		1,283,317
06-26-14		2.255-2.289		927,463			881,094
Inverness Medical
2nd Lien Term Loan
TBD	TBD			500,000	(f,k)		482,750
06-26-15		4.505		500,000			482,750
National Mentor Holdings, Inc.
Letter of Credit
06-29-13		0.140-2.150		423,443			387,979
National Mentor Holdings, Inc.
Tranche B Term Loan
06-29-13		2.290		1,488,910			1,364,214
Select Medical Corp.
Tranche B Term Loan
02-24-12		2.339		865,371			851,309
Select Medical Corp.
Tranche B1 Term Loan
08-22-14		4.089		850,000			844,161
Skilled Healthcare Group, Inc.
Term Loan
04-09-16		5.250		572,125			552,907
Vanguard Health Holding Co. II LLC
Term Loan
01-29-16		5.000		547,253			549,136
Total							28,972,668
Home Construction (0.2%)
Las Vegas Land Holdings LLC
Term Loan
03-31-16		5.289		57,347			45,304
Standard Pacific Corp.
Tranche B Term Loan
05-05-13		2.119		855,000			778,050
Total							823,354
Independent Energy (1.0%)
Riverside Energy Center
Term Loan
06-24-11		4.538		1,687,604			1,683,385
Rocky Mountain Energy Center LLC
Credit Linked Deposit
06-24-11		0.188-4.350		179,534			179,085
Rocky Mountain Energy Center LLC
Term Loan
06-24-11		4.538		566,950			565,532
Venoco, Inc.
2nd Lien Term Loan
05-07-14		4.313		1,556,447			1,470,516
Total							3,898,518
Life Insurance (0.5%)
Conseco, Inc.
Term Loan
10-10-13		7.500		1,800,000			1,771,128

	Coupon		Principal
Borrower	rate		amount			Value(a)
Media Cable (3.7%)
Cequel Communications LLC
Term Loan
11-05-13		2.257		1,496,798			1,474,585
Charter Communications Operating LLC
Tranche B1 Term Loan
03-06-14		2.260		554,013			543,414
Charter Communications Operating LLC
Tranche C Term Loan
09-06-16		3.540		2,062,954			2,023,676
Insight Midwest Holdings LLC
Tranche B Term Loan
04-07-14		2.010-2.040		1,053,684			1,014,919
Mediacom Communications Corp.
Tranche D Term Loan
03-31-17		5.500		2,202,750			2,184,402
Mediacom Communications Corp.
Tranche D1 Term Loan
01-31-15		2.000		468,910			447,420
Mediacom Communications Corp.
Tranche F Term Loan
10-23-17		4.500		1,995,000			1,975,050
Quebecor Media
Tranche B Term Loan
01-17-13		2.289		888,648			861,988
UPC Broadband Holding
Tranche T Term Loan
12-30-16		4.251		2,026,712			1,970,978
WideOpenWest Finance LLC
Tranche A Term Loan
06-30-14		6.756-8.750		1,259,122			1,225,541
Total							13,721,973
Media Non-Cable (11.4%)
Advanstar Communications, Inc.
1st Lien Term Loan
06-02-14		2.539		938,033			722,285
American Media Operations, Inc.
Pay-in-Kind Term Loan
01-30-13		10.000		14,145	(l)		13,977
American Media Operations, Inc.
Term Loan
01-30-13		10.000		956,936			945,577
Cengage Learning Acquisitions, Inc.
Term Loan
07-03-14		2.540		2,245,235			2,054,794
Citadel Broadcasting Corp.
Term Loan
06-03-15		11.000		1,469,671			1,551,311
Clear Channel Communications, Inc.
Tranche B Term Loan
01-29-16		3.905		4,593,494			3,643,696
CMP Susquehanna Corp.
Term Loan
05-05-13		2.313		2,055,633			1,834,652
Cumulus Media, Inc.
Term Loan
06-11-14		4.006		1,293,879			1,182,826

	Coupon		Principal
Borrower	rate		amount			Value(a)
CW Media Holdings, Inc.
Tranche B Term Loan
02-16-15		3.256		2,443,795	(c)		2,425,467
Emmis Operating Co.
Tranche B Term Loan
11-01-13		4.273-4.289		986,833			848,676
F&W Media, Inc.
Term Loan
06-09-14		7.750		1,019,896			795,519
GateHouse Media Operating, Inc.
Delayed Draw Term Loan
08-28-14		2.260		664,361			238,838
GateHouse Media Operating, Inc.
Term Loan
08-28-14		2.260-2.510		3,751,333			1,348,604
Gray Television, Inc.
Tranche B Term Loan
12-31-14		0.750-3.760		1,176,120			1,137,896
HMH Publishing Co., Ltd.
Tranche A Term Loan
06-12-14		5.756		500,437	(c)		466,657
Intelsat Corp.
Tranche B2A Term Loan
01-03-14		2.790		331,063			322,601
Intelsat Corp.
Tranche B2B Term Loan
01-03-14		2.790		330,961			322,501
Intelsat Corp.
Tranche B2C Term Loan
01-03-14		2.790		330,961			322,501
Intelsat Jackson Holdings Ltd.
Term Loan
02-01-14		2.789-3.290		4,795,408			4,433,397
Lodgenet Entertainment Corp.
Term Loan
04-04-14		2.290		495,668			465,308
MediaNews Group, Inc.
Term Loan
03-19-14		8.500		141,371			136,423
Newsday LLC
Term Loan
08-01-13		6.539		1,450,000			1,462,688
Nielsen Finance LLC
Tranche B Term Loan
05-01-16		4.006		1,295,843			1,282,885
Penton Media, Inc.
1st Lien Term Loan
08-01-14		5.000		534,058			391,198
Postmedia Network, Inc.
Term Loan
07-13-16		9.000		1,047,708	(c)		1,059,495
Quad/Graphics, Inc.
Term Loan
04-20-16		5.500		972,563			966,873
R.H. Donnelley, Inc.
Term Loan
10-24-14		9.000		504,642			426,241

	Coupon		Principal
Borrower	rate		amount			Value(a)
Revolution Studios Distribution Co. LLC
2nd Lien Term Loan
06-21-15		7.260		525,000			236,250
Revolution Studios Distribution Co. LLC
Tranche B Term Loan
12-21-14		4.010		1,230,454			972,059
Sinclair Television Group, Inc.
Tranche B Term Loan
10-29-15		5.500		1,575,000			1,593,680
Spanish Broadcasting System, Inc.
1st Lien Term Loan
06-10-12		2.040		3,354,320			3,206,159
SuperMedia, Inc.
Term Loan
12-31-15		11.000		220,505			164,718
Tribune Co.
Tranche B Term Loan
06-04-14		5.250		587,263	(b,i)		388,510
Univision Communications, Inc.
Term Loan
09-29-14		2.506		1,991,344			1,885,385
Van Wagner Communications LLC
Delayed Draw Term Loan
06-27-13		3.288-3.299		268,474			222,833
Van Wagner Communications LLC
Tranche B Term Loan
06-27-13		3.288-5.000		378,603			314,240
Yell Group PLC
Tranche B1 Term Loan
07-31-14		4.005		1,331,107	(c)		712,142
Zuffa LLC
Term Loan
06-19-15		2.313-7.500		2,181,793			2,134,659
Total							42,633,521
Metals (1.1%)
John Maneely Co.
Term Loan
12-09-13		3.539		614,265			597,920
Noranda Aluminum Acquisition Corp.
Tranche B Term Loan
05-18-14		2.047		2,184,051			2,118,529
Novelis Corp.
Term Loan
TBD	TBD			559,872	(f,k)		552,700
07-06-14		2.260		544,296			537,323
Novelis, Inc.
Term Loan
TBD	TBD			190,128	(c,f,k)		187,693
07-06-14		2.260		276,139	(c)		272,601
Total							4,266,766
Non-Captive Consumer (0.6%)
AGFS Funding Co.
Term Loan
04-21-15		7.250		2,275,000			2,293,496

	Coupon		Principal
Borrower	rate		amount			Value(a)
Non-Captive Diversified (0.6%)
CIT Group, Inc.
Tranche 3 Term Loan
08-11-15		6.250		592,085			601,523
International Lease Finance Corp.
Tranche 1 Term Loan
03-17-15		6.750		1,500,000			1,533,045
Total							2,134,568
Oil Field Services (0.8%)
CGGVeritas
Tranche B1 Term Loan
01-12-14		4.500		476,771			472,003
Dresser, Inc.
2nd Lien Term Loan
05-04-15		6.112		1,575,000			1,568,118
Dresser, Inc.
Tranche B Term Loan
05-04-14		2.612		962,138			957,847
Total							2,997,968
Other Industry (0.9%)
ATI Acquisition Co.
Term Loan
12-30-15		13.250		500,000	(m)		425,000
ATI Acquisition Co.
Tranche B Term Loan
12-30-14		8.250		719,563	(m)		618,824
Education Management LLC
Tranche C Term Loan
06-03-13		2.063		331,960			309,622
Sensus USA, Inc.
Tranche B3 Term Loan
06-03-13		7.000		969,595			974,443
TriMas Co. LLC
Tranche B Term Loan
12-15-15		6.000		931,386			926,729
TriMas Co. LLC
Tranche B1 Term Loan
08-02-11		1.750-4.250		240,317			239,116
Total							3,493,734
Other Utility (0.5%)
BRSP LLC
Term Loan
06-04-14		7.500		1,943,519			1,953,237
Packaging (2.6%)
Anchor Glass Container Corp.
1st Lien Term Loan
03-02-16		6.000		1,075,625			1,075,625
Bway Holding Co.
Tranche B Term Loan
06-16-17		5.500-6.000		1,071,600			1,073,829
Consolidated Container Co. LLC
1st Lien Term Loan
03-28-14		2.500		1,210,263			1,139,923

	Coupon		Principal
Borrower	rate		amount			Value(a)
Graham Packaging Co. LP
Tranche C Term Loan
04-05-14		6.750		876,828			883,159
Graham Packaging Co. LP
Tranche D Term Loan
09-23-16		6.000		1,350,000			1,361,571
Graphic Packaging International, Inc.
Term Loan
05-16-14		3.004-3.040		947,874			940,964
ICL Industrial Containers ULC/Contenants
Tranche C Term Loan
06-16-17		5.500-6.000		100,463	(c)		100,671
Reynolds Group Holdings, Inc.
Term Loan
05-05-16		6.250-6.750		1,808,160			1,820,591
Reynolds Group Holdings, Inc.
Tranche D Term Loan
TBD	TBD			679,000	(f,k,p)		683,997
Tegrant Corp.
2nd Lien Term Loan
03-08-15		5.790		850,000			671,500
Total							9,751,830
Paper (1.0%)
Georgia-Pacific LLC
Tranche C Term Loan
12-23-14		3.539-3.543		1,001,241			1,004,685
Smurfit-Stone Container Enterprises, Inc.
Term Loan
02-22-16		6.750		1,221,938			1,231,762
White Birch Paper Co.
Debtor In Possession
Delayed Draw Term Loan
TBD	TBD			189,950	(c,f,h,k,p)		188,882
12-01-10		2.000-12.000		169,553	(c,h)		168,601
White Birch Paper Co.
Debtor In Possession
Term Loan
12-01-10		12.000		1,036,819	(c,h)		1,030,992
Total							3,624,922
Pharmaceuticals (0.8%)
Catalent Pharma Solutions, Inc.
Term Loan
04-10-14		2.505		1,388,067			1,306,518
Grifols, Inc.
Tranche B Term Loan
TBD	TBD			800,000	(f,k)		808,200
Mylan, Inc.
Tranche B Term Loan
10-02-14		3.563		1,045,966			1,047,535
Total							3,162,253
Property & Casualty (0.9%)
Asurion LLC
1st Lien Term Loan
07-03-14		3.256-3.398		1,435,500			1,335,015

	Coupon		Principal
Borrower	rate		amount			Value(a)
Asurion LLC
2nd Lien Term Loan
07-03-15		6.756		400,000			372,752
Asurion LLC
Tranche B2 Term Loan
TBD	TBD			1,325,000	(f,k)		1,300,156
HUB International Ltd.
Term Loan
06-13-14		6.750		472,613			467,098
Total							3,475,021
Refining (1.0%)
Alon USA Energy, Inc.
Term Loan
08-05-13		2.505-3.008		1,436,250			1,044,872
Big West Oil LLC
Term Loan
07-23-15		12.000		624,306			635,231
Western Refining, Inc.
Term Loan
05-30-14		10.750		1,476,090			1,484,696
Wynnewood Refining Co.
Term Loan
11-13-14		11.750		697,500	(m)		655,650
Total							3,820,449
REITS (0.4%)
Capital Automotive LP
Tranche B Term Loan
12-16-10		2.010		1,500,000			1,490,160
Restaurants (0.3%)
Buffets, Inc.
1st Lien Letter of Credit
04-22-15		0.289-7.539		142,936			109,436
OSI Restaurant Partners LLC
Term Loan
06-14-13		0.112-2.625		77,306			72,680
06-14-14		2.625		844,618			794,076
Total							976,192
Retailers (5.8%)
Claire’s Stores, Inc.
Tranche B Term Loan
05-29-14		3.038-3.049		1,989,717			1,765,257
David’s Bridal, Inc.
Term Loan
01-31-14		2.289		412,376			390,726
Dollar General Corp.
Tranche B1 Term Loan
07-07-14		3.005-3.038		853,696			844,715
General Nutrition Centers, Inc.
Term Loan
09-16-13		2.510-2.540		1,546,496			1,516,849
Gregg Appliances, Inc.
Term Loan
07-25-13		2.260		805,485			779,306

	Coupon		Principal
Borrower	rate		amount		Value(a)
JRD Holdings, Inc.
Term Loan
07-02-14		2.510		1,105,645		1,078,004
Michaels Stores, Inc.
Tranche B1 Term Loan
10-31-13		2.563-2.688		401,013		388,064
Michaels Stores, Inc.
Tranche B2 Term Loan
07-31-16		4.813-4.938		1,539,672		1,525,400
Orchard Supply Hardware LLC
Term Loan
12-21-13		3.063		1,566,000		1,425,060
PetCo Animal Supplies, Inc.
Term Loan
10-26-13		2.505-2.539		752,916		740,365
Pilot Travel Centers LLC
Tranche B Term Loan
06-30-16		5.250		1,992,123		2,026,148
Rent-A-Center, Inc.
Tranche B Term Loan
03-31-15		3.300		506,506		505,240
Sally Holdings LLC
Tranche B Term Loan
11-16-13		2.510		1,424,658		1,415,312
The Neiman Marcus Group, Inc.
Term Loan
04-06-13		2.294		1,389,909		1,354,911
The Pantry, Inc.
Delayed Draw Term Loan
05-15-14		2.010		221,843		211,860
The Pantry, Inc.
Term Loan
05-15-14		2.010		770,478		735,806
The Pep Boys-Manny, Moe & Jack
Term Loan
10-27-13		2.300		558,742		537,091
The Sports Authority, Inc.
Term Loan
05-03-13		2.539		3,105,084		3,042,984
Yankee Candle Co., Inc.
Term Loan
02-06-14		2.260		1,568,809		1,523,705
Total						21,806,803
Supermarkets (0.1%)
Supervalu, Inc.
Tranche A Term Loan
06-02-11		1.130		294,643		291,861
Technology (5.4%)
Acxiom Corp.
Tranche 2 Term Loan
03-15-15		3.288		481,000		477,994
Brocade Communications Systems, Inc.
Term Loan
10-07-13		7.000		287,140		290,100
Dealer Computer Services, Inc.
Term Loan
04-21-17		5.250		1,355,769		1,360,433

	Coupon		Principal
Borrower	rate		amount			Value(a)
Fidelity National Information Services, Inc.
Tranche B Term Loan
07-18-16		5.250		750,000			759,938
First Data Corp.
Tranche B1 Term Loan
09-24-14		3.005-3.006		1,911,373			1,718,764
First Data Corp.
Tranche B2 Term Loan
09-24-14		3.005-3.006		993,283			892,813
Flextronics International Ltd.
Tranche B Term Loan
10-01-12		2.504		447,692	(c)		441,760
Freescale Semiconductor, Inc.
Term Loan
12-01-16		4.504		1,326,846			1,249,079
Infor Enterprise Solutions Holdings, Inc.
1st Lien Delayed Draw Term Loan
07-28-15		6.010		329,143			304,869
Infor Enterprise Solutions Holdings, Inc.
1st Lien Term Loan
07-28-15		6.010		630,857			584,331
Infor Enterprise Solutions Holdings, Inc.
2nd Lien Term Loan
03-02-14		6.505		600,000			409,500
Sabre, Inc.
Term Loan
09-30-14		2.255-2.288		2,918,938			2,773,983
Sensata Technology BV/Finance Co. LLC
Term Loan
04-27-13		2.021-2.038		939,053			909,708
Ship Luxco 3 S.A.R.L.
Tranche B2A Term Loan
TBD	TBD			2,000,000	(c,f,k)		2,012,080
Spansion LLC
Term Loan
02-09-15		7.500		547,250			555,229
SunGard Data Systems, Inc.
Term Loan
02-28-14		6.750		737,487			744,552
SunGard Data Systems, Inc.
Tranche B Term Loan
02-28-16		3.898-4.043		482,150			477,430
Symphonyiri Group, Inc.
Term Loan
05-16-14		3.339-5.250		390,756			381,964
The First American Corp.
Term Loan
04-12-16		4.750		698,250			699,996
Trans Union LLC
Term Loan
06-15-17		6.750		673,313			683,621
Verint Systems, Inc.
Term Loan
05-25-14		5.250		1,031,875			1,018,976
WireCo WorldGroup, Inc.
Term Loan
02-10-14		5.250		1,545,371			1,493,215
Total							20,240,335

	Coupon		Principal
Borrower	rate		amount			Value(a)
Textile (1.3%)
Hanesbrands, Inc.
Term Loan
12-10-15		5.250		1,059,437			1,069,364
Levi Strauss & Co.
Term Loan
03-27-14		2.250		2,202,000			2,064,374
Phillips-Van Heusen Corp.
Tranche B Term Loan
05-06-16		4.750		1,696,309			1,708,065
Total							4,841,803
Transportation Services (0.3%)
The Hertz Corp.
Letter of Credit
12-21-12		0.339-1.750		439,313			435,390
The Hertz Corp.
Tranche B Term Loan
12-21-12		2.010		731,752			725,217
Total							1,160,607
Wireless (1.5%)
Crown Castle Operating Co.
Tranche B Term Loan
03-06-14		1.755		1,218,434			1,202,655
Hawaiian Telcom Communications, Inc.
Tranche C Term Loan
05-30-14		4.750		921,599			738,145
MetroPCS Wireless, Inc.
Tranche B1 Term Loan
11-03-13		2.563		87,417			86,616
MetroPCS Wireless, Inc.
Tranche B2 Term Loan
11-03-16		3.813		952,376			952,081
Ntelos, Inc.
Tranche B Term Loan
08-07-15		5.750		1,446,352			1,454,668
Telesat Canada
Tranche I Term Loan
10-31-14		3.260		997,095	(c)		980,185
Telesat Canada
Tranche II Term Loan
10-31-14		3.260		85,645	(c)		84,193
Total							5,498,543
Wirelines (1.0%)
Alaska Communications Systems Holdings, Inc.
Term Loan
10-21-16		6.250		1,850,000			1,856,012
Integra Telecom Holdings, Inc.
Term Loan
04-15-15		9.250		922,688			929,036
Time Warner Telecom Holdings, Inc.
Tranche B Term Loan
01-07-13		2.010		1,064,488			1,051,853
Total							3,836,901
Total Senior Loans
(Cost: $346,604,004)						$	342,988,411

Bonds (3.9%)

	Coupon			Principal
Issuer	rate			amount			Value(a)
Automotive (—%)
Delphi Automotive LLP
10-06-14		12.000	%	$	1,820		$	1,850
Building Materials (0.4%)
CPG International I, Inc.
Senior Unsecured
07-01-12		7.501			1,000,000	(e)		1,000,000
Hillman Group, Inc.
06-01-18		10.875			565,000	(d)		604,550
Total								1,604,550
Chemicals (0.7%)
Hexion U.S. Finance Corp./Nova Scotia ULC
Secured
11-15-14		4.876			1,000,000	(e)		959,999
Hexion U.S. Finance Corp./Nova Scotia ULC
Senior Secured
11-15-20		9.000			545,000	(d,f)		566,800
LyondellBasell Industries
Senior Secured
05-01-18		11.000			500,000			560,000
Momentive Performance Materials, Inc.
Secured
01-15-21		9.000			905,000	(d,f)		938,938
Total								3,025,737
Diversified Manufacturing (0.3%)
Esco Corp.
12-15-13		4.167			1,000,000	(d,e)		962,500
Entertainment (0.5%)
Marquee Holdings, Inc.
Senior Discount Notes
08-15-14		9.505			1,000,000	(e)		827,500
Regal Entertainment Group
08-15-18		9.125			1,000,000			1,065,000
Total								1,892,500
Health Care (0.2%)
LifeCare Holdings, Inc.
08-15-13		9.250			1,000,000			730,000
Media Non-Cable (0.6%)
Clear Channel Communications, Inc.
Senior Unsecured
01-15-13		5.750			1,000,000			900,000
F&W Media, Inc.
Term Loan
12-09-14		15.000			426,544			199,942
Intelsat Jackson Holdings SA
06-15-16		11.500			1,000,000	(c)		1,087,500
Total								2,187,442

	Coupon		Principal
Issuer	rate		amount			Value(a)
Metals (—%)
Aleris International, Inc.
Senior Unsecured
06-01-20		6.000		13,834	(m,o)		13,834
Other Industry (0.3%)
Mueller Water Products, Inc.
09-01-20		8.750		1,000,000	(d)		1,083,750
Packaging (0.3%)
Berry Plastics Corp.
Senior Secured
02-15-15		5.039		1,000,000	(e)		960,000
Retailers (0.3%)
Michaels Stores, Inc.
11-01-14		10.000		1,000,000			1,050,000
Tobacco (0.3%)
Alliance One International, Inc.
07-15-16		10.000		1,000,000			1,100,000
Total Bonds
(Cost: $14,351,846)						$	14,612,163

Common Stocks (2.3%)

Issuer	Shares			Value(a)
Auto Components (0.1%)
Delphi Automotive LLP		12	(b)	$	194,380
Mark IV Industries, Inc.		667	(b)		29,848
Metaldyne Corp. LLC		1,014	(b)		253,374
Plastech Engineered Products, Inc., B Units		6,657	(b,g,m,o)		—
Plastech Engineered Products, Inc., C Units		8,198	(b,g,m,o)		—
Total					477,602
Chemicals (1.7%)
LyondellBasell Industries NV, Class A		121,047	(b,c)		3,251,323
LyondellBasell Industries NV, Class B		110,810	(b,c)		2,979,681
Total					6,231,004
Diversified Financial Services (—%)
Education Media, Inc. Unit		29,515	(b)		170,936
Home Construction (—%)
The Rhodes Companies LLC		109,053			35,442
Hotels, Restaurants & Leisure (—%)
Buffets Restaurants Holdings, Inc.		28,786	(b)		118,742
IT Services (0.1%)
Advanstar Communications, Inc.		18,596	(b)		223,152
Media (0.2%)
F&W Media, Inc.		4,165			2,603
MediaNews Group, Inc.		10,512	(b)		173,448
Reader’s Digest Association, Inc.		26,729	(b)		537,253

Issuer	Shares			Value(a)
The Star Tribune Co.		471	(b)		9,832
SuperMedia, Inc.		1,126	(b)		7,409
Total					730,545
Metals & Mining (0.2%)
Aleris International, Inc.		16,009	(b)		640,360
Total Common Stocks (Cost: $13,971,266)				$	8,627,783

Warrants (0.2%)

Issuer	Shares			Value(a)
Communications Equipment (0.2%)
Citadel Broadcasting Corp., Class B		27,602	(b,m)	$	637,151
Diversified Financial Services (—%)
Cumulus Media, Inc., Class A		2,817	(b,m)		6,812
Media (—%)
F&W Media, Inc.		1,805	(b)		1,128
The Star Tribune Co.		2,617	(b,m)		54,630
Total					55,758
Total Warrants (Cost: $2,615,156)				$	699,721

Money Market Fund (6.1%)

	Shares			Value(a)
Columbia Short-Term Cash Fund, 0.241%		22,956,553	(n)	$	22,956,553
Total Money Market Fund (Cost: $22,956,553)				$	22,956,553
Total Investments in Securities (Cost: $400,498,825)(q)				$	389,884,631

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

Notes to Portfolio of Investments
(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Annual Report dated July 31, 2010.
(b)	Non-income producing. For long-term debt securities, item identified is in default as to payment of interest and/or principal.
(c)	Foreign security values are stated in U.S. dollars. At Oct. 31, 2010, the value of foreign securities, excluding short-term securities, represented 6.62% of net assets.
(d)	Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At Oct. 31, 2010, the value of these securities amounted to $4,156,538 or 1.11% of net assets.
(e)	Interest rate varies either based on a predetermined schedule or to reflect current market conditions; rate shown is the effective rate on Oct. 31, 2010.

(f)	At Oct. 31, 2010, the cost of securities purchased, including interest purchased, on a when-issued and/or other forward-commitment basis was $17,752,340.
(g)	Negligible market value.
(h)	The borrower filed for protection under Chapter 11 of the U.S. Federal Bankruptcy Code.
(i)	This position is in bankruptcy.
(j)	Senior loans have rates of interest that float periodically based primarily on the London Interbank Offered Rate (“LIBOR”) and other short-term rates. Remaining maturities of senior loans may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty.
(k)	Represents a senior loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, senior loans typically trade without accrued interest and therefore a weighted average coupon rate is not available prior to settlement. At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final weighted average coupon rate and maturity date.
(l)	Pay-in-kind securities are securities in which the issuer makes interest or dividend payments in cash or in additional securities. The securities usually have the same terms as the original holdings.
(m)	Identifies issues considered to be illiquid as to their marketability. The aggregate value of such securities at Oct. 31, 2010 was $2,584,684, representing 0.69% of net assets. Information concerning such security holdings at Oct. 31, 2010 was as follows:

	Acquisition
Security	dates		Cost
Aleris International, Inc.
Senior Unsecured
6.000% 2020		06-29-10	$	—
ATI Acquisition Co.
Term Loan
13.250% 2015		12-23-09		491,361
ATI Acquisition Co.
Tranche B Term Loan		12-23-09		695,443
8.250% 2014
Citadel Broadcasting Corp., Class B	07-06-09 thru 01-08-10			442,439
Cumulus Media, Inc., Class A		11-05-09		—
GPX International Tire Corp.
Tranche B Term Loan
5.290% 2012	04-11-06 thru 06-04-10			262,508
Plastech Engineered Products, Inc.
1st Lien Term Loan
0.000% 2013	02-14-07 thru 05-26-09			102,045
Plastech Engineered Products, Inc., B Units		06-29-09		—
Plastech Engineered Products, Inc., C Units		06-29-09		—
The Star Tribune Co.		03-09-07		1,779,696
Wynnewood Refining Co.
Term Loan
11.750% 2014		10-14-09		635,209

(n)	Affiliated Money Market Fund — The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at Oct. 31, 2010.
(o)	Security valued by management at fair value according to procedures approved, in good faith, by the Board.

(p) At Oct. 31, 2010, the Fund had unfunded senior loan commitments pursuant to the terms of the loan agreement. The Fund receives a stated coupon rate until the borrower draws on the loan commitment, at which time the rate will become the stated rate in the loan agreement.

	Unfunded
Borrower	commitment
Delphi Holdings LLP
Tranche B1A Term Loan	$	2,172
Reynolds Group Holdings, Inc.
Tranche D Term Loan		679,000
White Birch Paper Co.
Debtor In Possession
Delayed Draw Term Loan		188,252
Total	$	869,424

(q) At Oct. 31, 2010, the cost of securities for federal income tax purposes was approximately $400,499,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	13,754,000
Unrealized depreciation		(24,368,000	)
Net unrealized depreciation	$	(10,614,000	)

Fair Value Measurements

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

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

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

• Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (to include NAV for open-end mutual funds). Valuation adjustments are not applied to Level 1 investments.

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

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

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

Non-U.S. equity securities actively traded in foreign markets may be reflected in Level 2 despite the availability of closing prices, because the Fund evaluates and determines whether those closing prices reflect fair value at the close of the New York Stock Exchange (NYSE) or require adjustment, as described in Note 2 to the financial statements — Valuation of securities in the most recent Annual Report dated July 31, 2010.

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

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

	Fair value at Oct. 31, 2010
	Level 1		Level 2
	quoted prices		other		Level 3
	in active		significant		significant
	markets for		observable		unobservable
Description(a)	identical assets		inputs(b)		inputs		Total
Senior Loans
Building Materials	$	—	$	3,550,681	$	665,620	$	4,216,301
Chemicals		—		27,906,518		143,406		28,049,924
Construction Machinery		—		1,136,144		888,081		2,024,225
Diversified Manufacturing		—		9,994,030		137,190		10,131,220
Health Care		—		28,118,949		853,719		28,972,668
Home Construction		—		778,050		45,304		823,354
Independent Energy		—		1,470,516		2,428,002		3,898,518
Media Cable		—		12,859,985		861,988		13,721,973
Media Non-Cable		—		38,509,116		4,124,405		42,633,521
Oil Field Services		—		2,525,965		472,003		2,997,968
Other Industry		—		1,236,351		2,257,383		3,493,734
Other Utility		—		—		1,953,237		1,953,237
Packaging		—		9,080,330		671,500		9,751,830
Paper		—		2,236,447		1,388,475		3,624,922
Refining		—		2,529,568		1,290,881		3,820,449
Restaurants		—		866,756		109,436		976,192
Retailers		—		17,088,547		4,718,256		21,806,803
All Other Industries		—		160,091,572		—		160,091,572
Total Senior Loans		—		319,979,525		23,008,886		342,988,411
Bonds
Corporate Debt Securities
Automotive		—		—		1,850		1,850
Metals		—		—		13,834		13,834
All Other Industries		—		14,596,479		—		14,596,479
Total Bonds		—		14,596,479		15,684		14,612,163
Equity Securities
Common Stocks
Auto Components		—		224,228		253,374		477,602
Diversified Financial Services		—		170,936		—		170,936
Home Construction		—		—		35,442		35,442
Hotels, Restaurants & Leisure		—		—		118,742		118,742
IT Services		—		—		223,152		223,152
Media		7,409		537,253		185,883		730,545
Metals & Mining		—		—		640,360		640,360
All Other Industries		6,231,004		—		—		6,231,004
Warrants
Communications Equipment		—		—		637,151		637,151
Diversified Financial Services		—		6,812		—		6,812
Media		—		—		55,758		55,758
Total Equity Securities		6,238,413		939,229		2,149,862		9,327,504
Other
Affiliated Money Market Fund(c)		22,956,553		—		—		22,956,553
Total Other		22,956,553		—		—		22,956,553
Total	$	29,194,966	$	335,515,233	$	25,174,432	$	389,884,631

(a)	See the Portfolio of Investments for all investment classifications not indicated in the table.
(b)	There were no significant transfers between Levels 1 and 2 during the period.
(c)	Money market fund that is a sweep investment for cash balances in the Fund at Oct. 31, 2010.

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

	Senior			Corporate Debt			Common
	Loans			Securities			Stocks		Warrants			Total
Balance as of July 31, 2010	$	30,253,197		$	15,726		$	1,400,223	$	797,858		$	32,467,004
Accrued discounts/premiums		66,362			(19	)		—		—			66,343
Realized gain (loss)		(604,741	)		—			—		—			(604,741	)
Change in unrealized appreciation (depreciation)*		405,895			(23	)		56,730		(104,949	)		357,653
Sales		(7,113,882	)		—			—		—			(7,113,882	)
Purchases		2,055			—			—		—			2,055
Transfers into Level 3		—			—			—		—			—
Transfers out of Level 3		—			—			—		—			—
Balance as of Oct. 31, 2010	$	23,008,886		$	15,684		$	1,456,953	$	692,909		$	25,174,432

* Change in unrealized appreciation (depreciation) relating to securities held at Oct. 31, 2010 was $213,553, which is comprised of Senior Loans of $261,795, Corporate Debt Securities of $(23), Common Stocks of $56,730 and Warrants of $(104,949).

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

Portfolio of Investments
Columbia Income Opportunities Fund
Oct. 31, 2010 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Bonds (94.9%)

	Coupon			Principal
Issuer	rate			amount			Value(a)
Aerospace & Defense (1.0%)
CPI International, Inc.
Senior Unsecured
02-01-15		6.428	%	$	246,000	(f)	$	246,000
Esterline Technologies Corp.
08-01-20		7.000			195,000	(d)		207,188
Kratos Defense & Security Solutions, Inc.
Senior Secured
06-01-17		10.000			2,485,000			2,758,350
L-3 Communications Corp.
10-15-15		6.375			3,240,000			3,337,199
Oshkosh Corp.
03-01-17		8.250			1,066,000			1,164,605
03-01-20		8.500			967,000			1,070,953
Total								8,784,295
Airlines (0.6%)
Delta Air Lines, Inc.
Senior Secured
09-15-14		9.500			4,837,000	(d,j)		5,356,978
Automotive (1.4%)
Accuride Corp.
Senior Secured
08-01-18		9.500			730,000	(d,j)		795,700
Lear Corp.
03-15-18		7.875			2,143,000			2,335,870
03-15-20		8.125			1,173,000	(j)		1,296,165
Tenneco, Inc.
11-15-15		8.125			3,510,000	(j)		3,720,600
TRW Automotive, Inc.
12-01-17		8.875			3,135,000	(d)		3,448,500
Total								11,596,835
Brokerage (0.9%)
E*Trade Financial Corp.
Senior Unsecured
09-15-13		7.375			750,000			745,313
12-01-15		7.875			6,905,000			6,827,318
Total								7,572,631
Building Materials (2.0%)
Associated Materials LLC
Senior Secured
11-01-17		9.125			1,340,000	(d)		1,410,350

	Coupon		Principal
Issuer	rate		amount			Value(a)
Associated Materials LLC/Financing, Inc.
Senior Secured
11-15-16		9.875		4,308,000			5,169,599
Gibraltar Industries, Inc.
12-01-15		8.000		4,355,000			4,322,338
Interface, Inc.
Secured
11-01-13		11.375		1,445,000			1,676,200
Norcraft Companies LP/Finance Corp.
Senior Secured
12-15-15		10.500		3,579,000			3,829,530
Norcraft Holdings LP/Capital Corp.
Senior Discount Notes
09-01-12		9.750		50,000			49,438
Total							16,457,455
Chemicals (4.0%)
Ashland, Inc.
06-01-17		9.125		2,035,000			2,345,338
Celanese U.S. Holdings LLC
10-15-18		6.625		241,000	(d)		253,653
CF Industries, Inc.
05-01-18		6.875		2,620,000			2,980,250
05-01-20		7.125		2,620,000			3,045,750
Chemtura Corp.
Senior Unsecured
06-01-16		6.875		4,181,000	(b,k)		5,748,875
Hexion U.S. Finance Corp./Nova Scotia ULC
Senior Secured
02-01-18		8.875		6,308,000			6,773,214
Ineos Finance PLC
Senior Secured
05-15-15		9.000		2,200,000	(c,d)		2,343,000
Koppers, Inc.
12-01-19		7.875		785,000			849,763
LyondellBasell Industries
Senior Secured
11-01-17		8.000		5,940,000	(d)		6,519,150
Solutia, Inc.
03-15-20		7.875		2,500,000			2,750,000
Total							33,608,993
Construction Machinery (3.2%)
Case New Holland, Inc.
Senior Notes
12-01-17		7.875		4,497,000	(d)		5,036,639
RSC Equipment Rental, Inc./Holdings III LLC
Senior Secured
07-15-17		10.000		1,865,000	(d)		2,079,475
Terex Corp.
Senior Unsecured
06-01-16		10.875		4,300,000			4,945,000
The Manitowoc Co., Inc.
11-01-13		7.125		409,000			412,068
02-15-18		9.500		3,447,000	(j)		3,696,908
11-01-20		8.500		1,520,000			1,586,500

	Coupon		Principal
Issuer	rate		amount			Value(a)
United Rentals North America, Inc.
06-15-16		10.875		4,160,000			4,742,400
United Rentals North America, Inc.
Senior Unsecured
12-15-19		9.250		4,317,000			4,856,625
Total							27,355,615
Consumer Cyclical Services (0.3%)
Brickman Group Holdings, Inc.
Senior Notes
11-01-18		9.125		224,000	(d)		230,720
Garda World Security Corp.
Senior Unsecured
03-15-17		9.750		1,969,000	(c,d)		2,121,598
Total							2,352,318
Consumer Products (1.9%)
ACCO Brands Corp.
Senior Secured
03-15-15		10.625		710,000			801,413
Central Garden and Pet Co.
03-01-18		8.250		2,543,000			2,670,150
Jarden Corp.
05-01-16		8.000		2,895,000			3,195,356
Libbey Glass, Inc.
Senior Secured
02-15-15		10.000		3,144,000	(d)		3,411,240
NBTY, Inc.
10-01-18		9.000		300,000	(d)		318,750
Sealy Mattress Co.
Senior Secured
04-15-16		10.875		1,615,000	(d)		1,837,063
Spectrum Brands Holdings, Inc.
Senior Secured
06-15-18		9.500		3,105,000	(d)		3,446,549
Total							15,680,521
Diversified Manufacturing (1.1%)
Amsted Industries, Inc.
Senior Notes
03-15-18		8.125		2,565,000	(d)		2,706,075
CPM Holdings, Inc.
Senior Secured
09-01-14		10.625		2,925,000	(d)		3,159,000
Pinafore LLC/Inc.
Senior Secured
10-01-18		9.000		500,000	(d)		535,000
SPX Corp.
09-01-17		6.875		2,385,000	(d)		2,599,650
Total							8,999,725
Electric (3.4%)
Calpine Corp.
Senior Secured
02-15-21		7.500		2,090,000	(d)		2,142,250
Dynegy Holdings, Inc.
Senior Unsecured
06-01-15		7.500		1,535,000	(j)		1,189,625
06-01-19		7.750		1,652,000			1,127,490

	Coupon		Principal
Issuer	rate		amount			Value(a)
Edison Mission Energy
Senior Unsecured
05-15-17		7.000		3,270,000			2,411,625
Energy Future Holdings Corp.
Senior Secured
01-15-20		10.000		2,590,000	(d)		2,712,771
Energy Future Intermediate Holding Co. LLC/Finance, Inc.
Senior Secured
12-01-20		10.000		664,000			695,475
Ipalco Enterprises, Inc.
Senior Secured
04-01-16		7.250		595,000	(d)		648,550
Midwest Generation LLC
Pass-Through Certificates
01-02-16		8.560		4,859,994			4,872,144
NRG Energy, Inc.
02-01-16		7.375		3,665,000			3,816,181
01-15-17		7.375		8,904,000			9,282,420
Total							28,898,531
Entertainment (1.3%)
AMC Entertainment, Inc.
06-01-19		8.750		2,914,000			3,121,622
Cinemark USA, Inc.
06-15-19		8.625		1,557,000			1,679,614
Regal Cinemas Corp.
02-01-12		9.375		1,000,000			1,000,000
07-15-19		8.625		2,300,000			2,455,250
Speedway Motorsports, Inc.
06-01-13		6.750		387,000			390,870
06-01-16		8.750		2,000,000			2,185,000
Total							10,832,356
Environmental (0.1%)
Clean Harbors, Inc.
Senior Secured
08-15-16		7.625		562,000			593,613
Food and Beverage (0.9%)
Cott Beverages, Inc.
11-15-17		8.375		1,050,000			1,139,250
09-01-18		8.125		1,021,000			1,105,233
Michael Foods, Inc.
Senior Notes
07-15-18		9.750		1,655,000	(d)		1,795,675
Pinnacle Foods Finance LLC/Corp.
09-01-17		8.250		3,760,000	(d,j)		3,901,000
Total							7,941,158
Gaming (5.3%)
Boyd Gaming Corp.
Senior Notes
12-01-18		9.125		4,270,000	(d,h)		4,280,675
Circus & Eldorado Joint Venture/Silver Legacy Capital Corp.
1st Mortgage
03-01-12		10.125		2,227,000			2,054,408

	Coupon		Principal
Issuer	rate		amount			Value(a)
FireKeepers Development Authority
Senior Secured
05-01-15		13.875		2,019,000	(d)		2,382,420
MGM Resorts International
Senior Secured
05-15-14		10.375		745,000			838,125
11-15-17		11.125		2,530,000			2,909,500
03-15-20		9.000		5,200,000	(d,j)		5,706,999
Penn National Gaming, Inc.
Senior Subordinated Notes
08-15-19		8.750		1,815,000	(j)		2,010,113
Pinnacle Entertainment, Inc.
08-01-17		8.625		605,000			651,888
05-15-20		8.750		4,093,000			4,087,884
Pokagon Gaming Authority
Senior Notes
06-15-14		10.375		5,369,000	(d)		5,583,760
San Pasqual Casino
09-15-13		8.000		587,000	(d)		569,390
Seminole Indian Tribe of Florida
10-01-20		7.804		965,000	(d)		906,907
Seminole Indian Tribe of Florida
Senior Secured
10-01-20		6.535		4,140,000	(d)		3,724,882
Shingle Springs Tribal Gaming Authority
Senior Notes
06-15-15		9.375		8,510,000	(d)		5,786,799
Tunica-Biloxi Gaming Authority
Senior Unsecured
11-15-15		9.000		3,090,000	(d)		2,773,275
Total							44,267,025
Gas Distributors (0.8%)
Energy Transfer Equity LP
10-15-20		7.500		4,340,000	(j)		4,730,600
Niska Gas Storage U.S. LLC/Canada ULC
03-15-18		8.875		1,659,000	(d)		1,794,454
Total							6,525,054
Gas Pipelines (2.8%)
El Paso Corp.
01-15-32		7.750		5,440,000			5,825,544
Regency Energy Partners LP/Finance Corp.
06-01-16		9.375		4,555,000	(j)		5,101,600
12-01-18		6.875		1,200,000			1,261,500
Sonat, Inc.
Senior Unsecured
02-01-18		7.000		675,000			732,069
Southern Star Central Corp.
Senior Notes
03-01-16		6.750		6,808,000			6,876,079
03-01-16		6.750		3,600,000	(d)		3,622,500
Total							23,419,292
Health Care (5.6%)
American Renal Holdings
Senior Secured
05-15-18		8.375		558,000	(d)		590,085

	Coupon		Principal
Issuer	rate		amount			Value(a)
AMGH Merger Sub, Inc.
11-01-18		9.250		745,000	(d)		769,213
Apria Healthcare Group, Inc.
Senior Secured
11-01-14		11.250		3,355,000			3,703,081
Biomet, Inc.
Pay-in-kind
10-15-17		10.375		2,550,000	(e)		2,843,250
Capella Healthcare, Inc.
07-01-17		9.250		385,000	(d)		420,613
Community Health Systems, Inc.
07-15-15		8.875		2,752,000			2,944,640
Hanger Orthopedic Group, Inc.
Senior Notes
11-15-18		7.125		600,000	(d,h)		603,000
HCA, Inc.
Secured
11-15-16		9.250		1,328,000			1,437,560
HCA, Inc.
Secured Pay-in-kind
11-15-16		9.625		3,044,000	(e)		3,310,350
HCA, Inc.
Senior Secured
02-15-20		7.875		2,785,000			3,084,388
09-15-20		7.250		9,375,000			10,253,905
Healthsouth Corp.
02-15-20		8.125		543,000			586,440
inVentiv Health, Inc.
08-15-18		10.000		3,528,000	(d)		3,554,460
LifePoint Hospitals, Inc.
10-01-20		6.625		1,175,000	(d)		1,236,688
Omnicare, Inc.
12-15-15		6.875		2,654,000			2,720,350
Select Medical Corp.
02-01-15		7.625		4,460,000			4,521,324
Tenet Healthcare Corp.
Senior Secured
07-01-19		8.875		1,660,000			1,867,500
Vanguard Health Holding Co. II LLC/Inc.
02-01-18		8.000		1,829,000			1,927,309
02-01-18		8.000		900,000	(d)		945,000
Total							47,319,156
Home Construction (0.5%)
K Hovnanian Enterprises, Inc.
Senior Secured
10-15-16		10.625		2,716,000			2,763,530
KB Home
09-15-17		9.100		1,020,000			1,060,800
William Lyon Homes, Inc.
02-15-14		7.500		340,000			249,900
Total							4,074,230
Independent Energy (9.4%)
Anadarko Petroleum Corp.
Senior Unsecured
03-15-14		7.625		3,505,000	(j)		3,986,745
09-15-17		6.375		4,370,000			4,833,817

	Coupon		Principal
Issuer	rate		amount			Value(a)
Berry Petroleum Co.
Senior Unsecured
06-01-14		10.250		3,600,000			4,153,500
11-01-20		6.750		765,000	(h)		787,950
Brigham Exploration Co.
10-01-18		8.750		930,000	(d)		1,005,563
Carrizo Oil & Gas, Inc.
Senior Unsecured
10-15-18		8.625		2,780,000	(d,h)		2,821,700
Chesapeake Energy Corp.
08-15-20		6.625		5,635,000			5,973,099
Comstock Resources, Inc.
10-15-17		8.375		2,575,000			2,678,000
Concho Resources, Inc.
10-01-17		8.625		3,854,000			4,171,954
Continental Resources, Inc.
10-01-20		7.375		804,000	(d)		870,330
04-01-21		7.125		1,455,000	(d)		1,567,763
Denbury Resources, Inc.
12-15-15		7.500		441,000			458,089
03-01-16		9.750		1,745,000			1,976,213
02-15-20		8.250		1,301,000			1,447,363
EXCO Resources, Inc.
09-15-18		7.500		3,985,000			3,925,225
Forest Oil Corp.
02-15-14		8.500		3,610,000			3,998,075
06-15-19		7.250		1,890,000			1,986,863
Hilcorp Energy I LP/Finance Co.
Senior Unsecured
11-01-15		7.750		5,135,000	(d)		5,289,049
06-01-16		9.000		2,000,000	(d)		2,110,000
Petrohawk Energy Corp.
08-01-14		10.500		2,800,000			3,192,000
06-01-15		7.875		1,120,000			1,187,200
08-15-18		7.250		1,755,000	(d)		1,816,425
QEP Resources, Inc.
Senior Unsecured
03-01-21		6.875		2,595,000			2,822,063
Quicksilver Resources, Inc.
08-01-15		8.250		4,665,000			4,734,974
04-01-16		7.125		104,000			99,580
08-15-19		9.125		1,960,000			2,092,300
Range Resources Corp.
03-15-15		6.375		550,000			561,000
05-15-16		7.500		1,115,000			1,167,963
05-01-18		7.250		395,000			422,650
05-15-19		8.000		2,000,000			2,215,000
08-01-20		6.750		2,220,000			2,375,400
SandRidge Energy, Inc.
Pay-in-kind
04-01-15		8.625		2,292,000	(e)		2,343,570
Total							79,071,423
Life Insurance (0.5%)
ING Groep NV
12-29-49		5.775		4,190,000	(c,f)		3,865,275

	Coupon		Principal
Issuer	rate		amount			Value(a)
Lodging (0.7%)
Starwood Hotels & Resorts Worldwide, Inc.
Senior Unsecured
12-01-19		7.150		993,000			1,119,608
Wyndham Worldwide Corp.
Senior Unsecured
12-01-16		6.000		2,336,000			2,494,567
02-01-18		5.750		443,000			460,334
03-01-20		7.375		2,025,000			2,232,563
Total							6,307,072
Media Cable (4.1%)
Cablevision Systems Corp.
Senior Unsecured
09-15-17		8.625		2,765,000			3,120,994
CCO Holdings LLC/Capital Corp.
10-30-17		7.250		2,032,000	(d)		2,098,040
04-30-18		7.875		2,660,000	(d)		2,826,250
04-30-20		8.125		1,140,000	(d)		1,231,200
Cequel Communications Holdings I LLC/Capital Corp.
Senior Unsecured
11-15-17		8.625		2,559,000	(d)		2,738,130
CSC Holdings LLC
Senior Unsecured
02-15-19		8.625		1,100,000			1,271,875
DISH DBS Corp.
02-01-16		7.125		4,510,000			4,780,600
09-01-19		7.875		3,039,000			3,331,504
Insight Communications Co., Inc.
Senior Notes
07-15-18		9.375		1,640,000	(d)		1,775,300
Mediacom LLC/Capital Corp.
08-15-19		9.125		2,666,000	(j)		2,819,295
Videotron Ltee
04-15-18		9.125		4,775,000	(c)		5,377,843
Virgin Media Secured Finance PLC
Senior Secured
01-15-18		6.500		3,241,000	(c)		3,475,973
Total							34,847,004
Media Non-Cable (7.5%)
Belo Corp.
Senior Unsecured
11-15-16		8.000		5,455,000			6,014,138
Clear Channel Worldwide Holdings, Inc.
12-15-17		9.250		5,306,000			5,796,805
Entravision Communications Corp.
Senior Secured
08-01-17		8.750		4,445,000	(d)		4,733,925
Intelsat Jackson Holdings SA
Senior Unsecured
10-15-20		7.250		1,960,000	(c,d)		2,004,100
Intelsat Subsidiary Holding Co. SA
01-15-15		8.875		2,755,000	(c,d)		2,851,425
01-15-15		8.875		1,850,000	(c)		1,914,750
Nielsen Finance LLC/Co.
10-15-18		7.750		2,008,000	(d,h)		2,088,320
10-15-18		7.750		4,510,000	(d)		4,690,399

	Coupon		Principal
Issuer	rate		amount			Value(a)
Salem Communications Corp.
Senior Secured
12-15-16		9.625		5,741,000			6,272,043
Sinclair Television Group, Inc.
Secured
11-01-17		9.250		7,926,000	(d)		8,698,784
Sirius XM Radio, Inc.
04-01-15		8.750		2,660,000	(d,j)		2,866,150
Sirius XM Radio, Inc.
Senior Secured
09-01-15		9.750		1,385,000	(d)		1,552,931
The Interpublic Group of Companies, Inc.
Senior Unsecured
07-15-17		10.000		5,095,000			6,037,575
Univision Communications, Inc.
Senior Secured
11-01-20		7.875		2,900,000	(d,j)		3,045,000
XM Satellite Radio, Inc.
Senior Unsecured
11-01-18		7.625		4,625,000	(d)		4,729,063
Total							63,295,408
Metals (2.5%)
Arch Coal, Inc.
08-01-16		8.750		3,017,000			3,386,583
10-01-20		7.250		249,000			272,033
Compass Minerals International, Inc.
06-01-19		8.000		1,300,000			1,410,500
Consol Energy, Inc.
04-01-17		8.000		3,157,000	(d)		3,449,022
04-01-20		8.250		3,361,000	(d)		3,739,112
FMG Resources August 2006 Pty Ltd.
Senior Notes
11-01-15		7.000		1,020,000	(c,d,h)		1,049,967
11-01-15		7.000		3,213,000	(c,d)		3,307,398
Peabody Energy Corp.
11-01-16		7.375		620,000			702,150
United States Steel Corp.
Senior Unsecured
02-01-18		7.000		1,517,000			1,551,133
04-01-20		7.375		1,723,000			1,791,920
Total							20,659,818
Non-Captive Consumer (0.7%)
American General Finance Corp.
Senior Unsecured
12-15-17		6.900		6,866,000			5,733,110
Non-Captive Diversified (6.6%)
Ally Financial, Inc.
03-15-20		8.000		11,763,000	(d)		12,998,115
09-15-20		7.500		2,200,000	(d)		2,376,000
CIT Group, Inc.
Senior Secured
05-01-16		7.000		3,000,000			2,988,750
05-01-17		7.000		14,360,000			14,288,199

	Coupon		Principal
Issuer	rate		amount			Value(a)
Ford Motor Credit Co. LLC
Senior Unsecured
10-01-14		8.700		4,775,000			5,494,115
04-15-15		7.000		1,400,000			1,547,235
12-15-16		8.000		4,550,000			5,325,884
08-15-17		6.625		4,140,000			4,626,450
International Lease Finance Corp.
Senior Unsecured
03-15-17		8.750		2,389,000	(d)		2,717,488
09-01-17		8.875		2,960,000	(j)		3,381,800
Total							55,744,036
Oil Field Services (1.8%)
Expro Finance Luxembourg SCA
Senior Secured
12-15-16		8.500		4,211,000	(c,d)		4,131,254
Key Energy Services, Inc.
12-01-14		8.375		2,231,000			2,389,959
McJunkin Red Man Corp.
Senior Secured
12-15-16		9.500		4,243,000	(d)		3,892,953
Offshore Group Investments Ltd.
Senior Secured
08-01-15		11.500		4,615,000	(c,d)		4,895,660
Total							15,309,826
Other Financial Institutions (0.3%)
Cardtronics, Inc.
09-01-18		8.250		2,275,000			2,411,500
Other Industry (0.9%)
Aquilex Holdings LLC/Finance Corp.
12-15-16		11.125		2,671,000			2,544,128
Chart Industries, Inc.
10-15-15		9.125		5,140,000			5,229,950
Total							7,774,078
Packaging (3.0%)
Ardagh Packaging Finance PLC
10-15-20		9.125		1,580,000	(c,d)		1,674,800
Ardagh Packaging Finance PLC
Senior Secured
10-15-17		7.375		760,000	(c,d)		805,600
Ball Corp.
09-01-19		7.375		1,120,000			1,248,800
09-15-20		6.750		1,151,000			1,268,978
Crown Americas LLC/Capital Corp. II
05-15-17		7.625		2,200,000			2,398,000
Greif, Inc.
Senior Unsecured
02-01-17		6.750		4,050,000			4,222,125
08-01-19		7.750		300,000			327,000
Reynolds Group Issuer, Inc./LLC
Senior Notes
04-15-19		9.000		2,180,000	(d)		2,264,475
Reynolds Group Issuer, Inc./LLC
Senior Secured
10-15-16		7.750		5,813,000	(d)		6,161,779
04-15-19		7.125		1,906,000	(d)		1,987,005

	Coupon		Principal
Issuer	rate		amount			Value(a)
Sealed Air Corp.
Senior Notes
06-15-17		7.875		2,950,000			3,239,711
Total							25,598,273
Paper (2.7%)
Cascades, Inc.
12-15-17		7.750		4,430,000	(c)		4,734,563
Georgia-Pacific LLC
06-15-15		7.700		2,990,000			3,438,500
05-01-16		8.250		2,630,000	(d)		3,017,925
01-15-17		7.125		4,453,000	(d)		4,786,975
11-01-20		5.400		2,480,000	(d,h)		2,504,800
Graphic Packaging International, Inc.
06-15-17		9.500		3,270,000			3,605,175
10-01-18		7.875		545,000			574,975
Total							22,662,913
Pharmaceuticals (1.2%)
Patheon, Inc.
Senior Secured
04-15-17		8.625		1,908,000	(c,d)		1,984,320
Valeant Pharmaceuticals International
10-01-17		6.750		3,005,000	(d)		3,136,469
10-01-20		7.000		1,340,000	(d)		1,407,000
Warner Chilcott Co. LLC/Finance
09-15-18		7.750		3,167,000	(c,d)		3,293,680
Total							9,821,469
Railroads (0.2%)
Kansas City Southern Railway
06-01-15		8.000		1,875,000			2,025,000
Restaurants (0.2%)
DineEquity, Inc.
Senior Unsecured
10-30-18		9.500		1,880,000	(d)		2,002,200
Retailers (2.4%)
HSN, Inc.
08-01-16		11.250		1,580,000			1,824,900
Limited Brands, Inc.
05-01-20		7.000		2,000,000			2,200,000
QVC, Inc.
Senior Secured
04-15-17		7.125		1,768,000	(d)		1,882,920
10-01-19		7.500		3,040,000	(d)		3,268,000
10-15-20		7.375		1,768,000	(d)		1,891,760
Rite Aid Corp.
Senior Secured
06-12-16		9.750		773,000	(j)		838,705
08-15-20		8.000		2,055,000	(d,j)		2,116,650
Toys R Us Property Co. I LLC
07-15-17		10.750		2,878,000			3,288,115
Toys R Us Property Co. II LLC
Senior Secured
12-01-17		8.500		2,589,000	(d)		2,789,648
Total							20,100,698

	Coupon		Principal
Issuer	rate		amount			Value(a)
Technology (2.1%)
Amkor Technology, Inc.
Senior Unsecured
05-01-18		7.375		653,000	(d,j)		679,120
Brocade Communications Systems, Inc.
Senior Secured
01-15-18		6.625		4,480,000			4,771,200
01-15-20		6.875		637,000	(j)		684,775
First Data Corp.
Senior Secured
08-15-20		8.875		2,960,000	(d,j)		3,111,700
Freescale Semiconductor, Inc.
Senior Secured
04-15-18		9.250		1,640,000	(d)		1,754,800
Interactive Data Corp.
08-01-18		10.250		3,520,000	(d)		3,850,000
Trans Union LLC/Financing Corp.
06-15-18		11.375		1,055,000	(d)		1,213,250
WireCo WorldGroup, Inc.
Senior Unsecured
05-15-17		9.500		1,460,000	(d)		1,569,500
Total							17,634,345
Transportation Services (0.6%)
Avis Budget Car Rental LLC/Finance, Inc.
03-15-18		9.625		1,282,000			1,378,150
01-15-19		8.250		1,105,000	(d)		1,116,050
The Hertz Corp.
10-15-18		7.500		2,345,000	(d)		2,409,488
Total							4,903,688
Wireless (5.9%)
CC Holdings GS V LLC/Crown Castle GS III Corp.
Senior Secured
05-01-17		7.750		7,300,000	(d)		8,194,249
Clearwire Communications LLC/Finance, Inc.
Senior Secured
12-01-15		12.000		3,273,000	(d)		3,633,030
Cricket Communications, Inc.
Senior Secured
05-15-16		7.750		2,167,000			2,334,943
Crown Castle International Corp.
Senior Unsecured
11-01-19		7.125		3,085,000			3,393,500
MetroPCS Wireless, Inc.
09-01-18		7.875		3,900,000			4,173,000
Nextel Communications, Inc.
08-01-15		7.375		5,688,000			5,709,330
SBA Telecommunications, Inc.
08-15-16		8.000		1,805,000			1,990,013
08-15-19		8.250		2,766,000			3,111,750
Sprint Capital Corp.
05-01-19		6.900		918,000			938,655
11-15-28		6.875		3,040,000			2,865,200

	Coupon		Principal
Issuer	rate		amount			Value(a)
Sprint Nextel Corp.
Senior Unsecured
08-15-17		8.375		7,879,000	(j)		8,686,597
Wind Acquisition Finance SA
Secured
07-15-17		11.750		4,145,000	(c,d)		4,725,300
Total							49,755,567
Wirelines (4.5%)
Cincinnati Bell, Inc.
02-15-15		7.000		1,585,000			1,596,888
10-15-17		8.250		3,685,000			3,740,275
Frontier Communications Corp.
Senior Unsecured
04-15-15		7.875		788,000			882,560
04-15-17		8.250		1,971,000			2,246,940
04-15-20		8.500		1,610,000			1,859,550
Integra Telecom Holdings, Inc.
Senior Secured
04-15-16		10.750		1,766,000	(d)		1,858,715
ITC Deltacom, Inc.
Senior Secured
04-01-16		10.500		3,860,000			4,159,150
Level 3 Financing, Inc.
11-01-14		9.250		4,680,000			4,586,400
PAETEC Holding Corp.
Senior Secured
06-30-17		8.875		4,408,000			4,749,620
Qwest Communications International, Inc.
10-01-15		8.000		1,930,000			2,098,875
04-01-18		7.125		600,000	(d)		637,500
Qwest Corp.
Senior Unsecured
05-01-16		8.375		1,200,000			1,446,000
Windstream Corp.
08-01-16		8.625		255,000			270,938
11-01-17		7.875		5,700,000			6,227,249
10-15-20		7.750		1,840,000	(d)		1,950,400
Total							38,311,060
Total Bonds (Cost: $735,804,354)						$	799,469,544
Senior Loans (0.7%)(g)
	Coupon		Principal
Borrower	rate		amount			Value(a)
Building Materials (0.1%)
Goodman Global, Inc.
1st Lien Term Loan
TBD	TBD		$	570,000	(h,i)	$	577,045
Goodman Global, Inc.
2nd Lien Term Loan
TBD	TBD			220,000	(h,i)		225,500
Total							802,545
Consumer Products (0.4%)
Visant Corp.
Tranche B Term Loan
12-22-16		7.000		3,130,000			3,155,822

	Coupon			Principal
Borrower	rate			amount			Value(a)
Gaming (0.1%)
Great Lakes Gaming of Michigan LLC
Development Term Loan
08-15-12		9.000			469,415	(l,n)		457,680
Great Lakes Gaming of Michigan LLC
Non-Gaming Land Acquisition Line of Credit
08-15-12		9.000			173,642	(l,n)		169,301
Great Lakes Gaming of Michigan LLC
Transition Term Loan
08-15-12		9.000			121,584	(l,n)		118,545
Total								745,526
Wirelines (0.1%)
Fairpoint Communications, Inc.
Tranche B Term Loan
03-31-15		1.750			1,786,883	(b,k)		1,160,545
Total Senior Loans (Cost: $5,944,291)							$	5,864,438
Money Market Fund (3.5%)
				Shares			Value(a)
Columbia Short-Term Cash Fund, 0.241%					29,366,326	(o)	$	29,366,326
Total Money Market Fund (Cost: $29,366,326)							$	29,366,326
Investments of Cash Collateral Received for Securities on Loan (3.5%)
	Effective			Principal
Issuer	yield			amount			Value(a)
Repurchase Agreements(m)
Barclays Capital, Inc. dated 10-29-10, matures 11-01-10, repurchase price
$5,000,133		0.320	%	$	5,000,000		$	5,000,000
Cantor Fitzgerald & Co. dated 10-29-10, matures 11-01-10, repurchase price
$5,000,100		0.240			5,000,000			5,000,000
Citigroup Global Markets, Inc. dated 10-29-10, matures 11-01-10, repurchase price
$2,000,038		0.230			2,000,000			2,000,000
Mizuho Securities USA, Inc. dated 10-29-10, matures 11-01-10, repurchase price
$8,000,167		0.250			8,000,000			8,000,000
Pershing LLC dated 10-29-10, matures 11-01-10, repurchase price
$6,000,160		0.320			6,000,000			6,000,000
Societe Generale dated 10-29-10, matures 11-01-10, repurchase price
$3,837,739		0.230			3,837,665			3,837,665

	Effective	Principal
Issuer	yield	amount	Value(a)
Total Investments of Cash Collateral Received for Securities on Loan
(Cost: $29,837,665)			$	29,837,665
Total Investments in Securities
(Cost: $800,952,636)(p)			$	864,537,973

Notes to Portfolio of Investments
(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Annual Report dated July 31, 2010.
(b)	Non-income producing. For long-term debt securities, item identified is in default as to payment of interest and/or principal.
(c)	Foreign security values are stated in U.S. dollars. For debt securities, principal amounts are denominated in U.S. dollar currency unless otherwise noted. At Oct. 31, 2010, the value of foreign securities, excluding short-term securities, represented 6.48% of net assets.
(d)	Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At Oct. 31, 2010, the value of these securities amounted to $293,913,568 or 34.89% of net assets.
(e)	Pay-in-kind securities are securities in which the issuer makes interest or dividend payments in cash or in additional securities. The securities usually have the same terms as the original holdings.
(f)	Interest rate varies either based on a predetermined schedule or to reflect current market conditions; rate shown is the effective rate on Oct. 31, 2010.
(g)	Senior loans have rates of interest that float periodically based primarily on the London Interbank Offered Rate (“LIBOR”) and other short-term rates. Remaining maturities of senior loans may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty.
(h)	At Oct. 31, 2010, the cost of securities purchased, including interest purchased, on a when-issued and/or other forward-commitment basis was $14,789,558.
(i)	Represents a senior loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, senior loans typically trade without accrued interest and therefore a weighted average coupon rate is not available prior to settlement. At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final weighted average coupon rate and maturity date.
(j)	At Oct. 31, 2010, security was partially or fully on loan.
(k)	This position is in bankruptcy.
(l)	Identifies issues considered to be illiquid as to their marketability. The aggregate value of such securities at Oct. 31, 2010 was $745,526, representing 0.09% of net assets. Information concerning such security holdings at Oct. 31, 2010 was as follows:

	Acquisition
Security	dates	Cost
Great Lakes Gaming of Michigan LLC
Development Term Loan
9.000% 2012	03-02-07 thru 09-15-07	$	466,185
Great Lakes Gaming of Michigan LLC
Non-Gaming Land Acquisition Line of Credit
9.000% 2012	03-02-07 thru 09-15-07		172,447
Great Lakes Gaming of Michigan LLC
Transition Term Loan
9.000% 2012	03-02-07 thru 09-15-07		120,747

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

Barclays Capital, Inc. (0.320%)

Security description	Value (a)
United States Treasury Bill	$	5,100,002
Total market value of collateral securities	$	5,100,002

Cantor Fitzgerald & Co. (0.240%)

Security description	Value (a)
Fannie Mae Grantor Trust	$	257
Fannie Mae Interest Strip		80,068
Fannie Mae Pool		622,893
Fannie Mae Principal Strip		14,504
Fannie Mae REMICS		749,932
Fannie Mae Whole Loan		12,350
Federal National Mortgage Association		30,240
FHLMC Multifamily Structured Pass Through Certificates		197
FHLMC Structured Pass Through Securities		5,785
Freddie Mac Coupon Strips		545
Freddie Mac Non Gold Pool		301,102
Freddie Mac Reference REMIC		4,195
Freddie Mac REMICS		326,995
Freddie Mac Strips		173,135
Ginnie Mae I Pool		674,256
Ginnie Mae II Pool		1,266,511
Government National Mortgage Association		439,728
United States Treasury Inflation Indexed Bonds		50,639
United States Treasury Strip Coupon		261,625
United States Treasury Strip Principal		85,043
Total market value of collateral securities	$	5,100,000

Citigroup Global Markets, Inc. (0.230%)

Security description	Value (a)
Fannie Mae Benchmark REMIC	$	11,304
Fannie Mae REMICS		665,360
Fannie Mae-Aces		14,707
Freddie Mac Reference REMIC		21,439
Freddie Mac REMICS		1,041,622
Government National Mortgage Association		285,568
Total market value of collateral securities	$	2,040,000

Mizuho Securities USA, Inc. (0.250%)

Security description	Value (a)
Fannie Mae Pool	$	2,974,427
Freddie Mac Gold Pool		1,223,965
Freddie Mac Non Gold Pool		486,506
Freddie Mac REMICS		682,435
Ginnie Mae I Pool		1,677,950
Government National Mortgage Association		1,114,717
Total market value of collateral securities	$	8,160,000

Pershing LLC (0.320%)

Security description	Value (a)
Fannie Mae Pool	$	914,282
Fannie Mae REMICS		424,023
Fannie Mae Whole Loan		7,053
Federal Farm Credit Bank		214,877
Federal Home Loan Banks		78,350
Federal Home Loan Mortgage Corp		10,628
Federal National Mortgage Association		123,848
Freddie Mac Gold Pool		832,194
Freddie Mac REMICS		510,990
Ginnie Mae I Pool		774,883
Ginnie Mae II Pool		695,313
Government National Mortgage Association		648,548
United States Treasury Inflation Indexed Bonds		11,703
United States Treasury Note/Bond		873,309
Total market value of collateral securities	$	6,120,001

Societe Generale (0.230%)

Security description	Value (a)
Government National Mortgage Association	$	3,914,418
Total market value of collateral securities	$	3,914,418

(n)	Security valued by management at fair value according to procedures approved, in good faith, by the Board.
(o)	Affiliated Money Market Fund — The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at Oct. 31, 2010.
(p)	At Oct. 31, 2010, the cost of securities for federal income tax purposes was approximately $800,953,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	65,203,000
Unrealized depreciation		(1,618,000	)
Net unrealized appreciation	$	63,585,000

Fair Value Measurements

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

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

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

• Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (to include NAV for open-end mutual funds). Valuation adjustments are not applied to Level 1 investments.

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

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

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

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

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

	Fair value at Oct. 31, 2010
	Level 1		Level 2
	quoted prices		other		Level 3
	in active		significant		significant
	markets for		observable		unobservable
Description(a)	identical assets		inputs(b)		inputs		Total
Bonds
Corporate Debt Securities	$	—	$	799,469,544	$	—	$	799,469,544
Total Bonds		—		799,469,544		—		799,469,544
Other
Senior Loans
Gaming		—		—		745,526		745,526
All Other Industries		—		5,118,912		—		5,118,912
Affiliated Money Market Fund(c)		29,366,326		—		—		29,366,326
Investments of Cash Collateral Received for Securities on Loan		—		29,837,665		—		29,837,665
Total Other		29,366,326		34,956,577		745,526		65,068,429
Total	$	29,366,326	$	834,426,121	$	745,526	$	864,537,973

(a)	See the Portfolio of Investments for all investment classifications not indicated in the table.
(b)	There were no significant transfers between Levels 1 and 2 during the period.
(c)	Money market fund that is a sweep investment for cash balances in the Fund at Oct. 31, 2010.

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

	Senior
	Loans
Balance as of July 31, 2010	$	842,576
Accrued discounts/premiums		777
Realized gain (loss)		669
Change in unrealized appreciation (depreciation)*		(3,630	)
Sales		(94,866	)
Purchases		—
Transfers into Level 3		—
Transfers out of Level 3		—
Balance as of Oct. 31, 2010	$	745,526

* Change in unrealized appreciation (depreciation) relating to securities held at Oct. 31, 2010 was $(3,630).

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

Portfolio of Investments
Columbia Inflation Protected Securities Fund
Oct. 31, 2010 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Bonds (99.5%)

	Coupon			Principal
Issuer	rate			amount			Value(a)
Treasury (1.6%)
Mexican Bonos
(MXN)
12-17-15		8.000	%		99,440,000	(c)	$	8,947,893
U.S. Government Obligations & Agencies (91.1%)
Federal Home Loan Mortgage Corp.
11-18-11		1.000		$	400,000			400,111
U.S. Treasury Inflation-Indexed Bond(b)
07-15-12		3.000			15,163,235	(e)		16,123,576
04-15-13		0.625			29,742,336			30,733,679
01-15-14		2.000			46,533,377			50,352,686
04-15-14		1.250			11,345,620	(e)		12,046,444
07-15-14		2.000			19,396,835	(e)		21,202,568
04-15-15		0.500			17,123,250			17,814,230
07-15-15		1.875			21,322,180			23,523,741
01-15-16		2.000			9,810,127	(e)		10,924,995
07-15-16		2.500			20,536,530	(e)		23,642,172
01-15-17		2.375			25,371,690			29,075,459
01-15-18		1.625			13,805,705			15,251,729
07-15-18		1.375			20,245,200			22,071,298
01-15-19		2.125			12,281,615			14,086,032
07-15-20		1.250			21,144,224			22,706,167
01-15-25		2.375			45,220,681	(e)		53,924,462
01-15-26		2.000			18,696,430			21,371,870
01-15-27		2.375			19,597,033	(e)		23,528,029
01-15-28		1.750			21,750,498			24,064,339
04-15-28		3.625			11,700,945			16,265,950
01-15-29		2.500			2,490,891			3,064,499
04-15-29		3.875			27,671,560			40,067,213
02-15-40		2.125			17,900,832			20,964,387
Total								513,205,636
Asset-Backed (0.8%)
Carrington Mortgage Loan Trust
Series 2006-RFC1 Class A2
05-25-36		0.356			2,324,296	(g)		2,281,395
Credit-Based Asset Servicing and Securitization LLC
Series 2006-CB6 Class A22
07-25-36		0.346			551,245	(g)		549,304
Jefferies & Co., Inc.
CMO Series 2010-R1 Class 2A1
11-26-36		0.422			895,871	(d,g)		857,797
Structured Asset Securities Corp.
CMO Series 2006-NC1 Class A6
05-25-36		0.306			949,529	(g)		929,463
Total								4,617,959
Commercial Mortgage-Backed (2.3%)(f)
Bear Stearns Commercial Mortgage Securities
Series 2005-T18 Class A4
02-13-42		4.933			3,500,000	(g)		3,800,447

	Coupon			Principal
Issuer	rate			amount			Value(a)
Greenwich Capital Commercial Funding Corp.
Series 2007-GG9 Class A2
03-10-39		5.381			241,518	(e)		248,666
Greenwich Capital Commercial Funding Corp.
Series 2007-GG9 Class A4
03-10-39		5.444			5,350,000			5,718,970
GS Mortgage Securities Corp. II
Series 2005-GG4 Class A4A
07-10-39		4.751			400,000			426,705
LB-UBS Commercial Mortgage Trust
Series 2007-C7 Class A3
09-15-45		5.866			2,650,000			2,826,888
Total								13,021,676
Residential Mortgage-Backed (2.3%)(f)
Government National Mortgage Association
CMO Series 2010-148 Class A
11-16-35		1.692			3,970,000	(k)		3,998,534
Government National Mortgage Association
CMO Series 2010-40 Class A
11-16-28		2.287			3,432,764			3,512,719
GSR Mortgage Loan Trust
CMO Series 2005-5F Class 2A3
06-25-35		5.500			2,555,354			2,583,880
Wells Fargo Mortgage-Backed Securities Trust
CMO Series 2004-F Class A3
06-25-34		4.725			174,087	(g)		175,702
Wells Fargo Mortgage-Backed Securities Trust
CMO Series 2005-AR16 Class 4A6
10-25-35		2.892			2,655,191	(g)		2,640,085
Total								12,910,920
Banking (1.4%)
Bank of Nova Scotia
10-29-15		1.650			1,545,000	(c,d)		1,539,498
BNP Paribas Home Loan Covered Bonds SA
11-02-15		2.200			1,370,000	(c,d,k)		1,377,635
Cie de Financement Foncier
09-16-15		2.500			2,000,000	(c,d)		2,019,231
The Toronto-Dominion Bank
07-29-15		2.200			3,000,000	(c,d)		3,062,045
Total								7,998,409
Total Bonds (Cost: $515,004,533)							$	560,702,493
Money Market Fund (1.1%)(i)
				Shares			Value(a)
Columbia Short-Term Cash Fund, 0.241%					6,134,459	(h)	$	6,134,459
Total Money Market Fund (Cost: $6,134,459)							$	6,134,459
Investments of Cash Collateral Received for Securities on Loan (—%)
	Effective			Principal
Issuer	yield			amount			Value(a)
Repurchase Agreements(j)
Societe Generale dated 10-29-10, matures 11-01-10, repurchase price $204,004		0.230	%	$	204,000		$	204,000
Total Investments of Cash Collateral Received for Securities on Loan (Cost: $204,000)							$	204,000
Total Investments in Securities (Cost: $521,342,992)(l)							$	567,040,952

Investments in Derivatives

At Oct. 31, 2010, $373,865 was held in a margin deposit account as collateral to cover initial margin requirements on open interest rate futures contracts.

Futures Contracts Outstanding at Oct. 31, 2010

	Number of							Unrealized
	contracts			Notional			Expiration	appreciation
Contract description	long (short)			market value			date	(depreciation)
U.S. Long Bond, 20-year		104		$	13,617,500		Dec. 2010	$	(124,613	)
U.S. Treasury Note, 2-year		(392	)		(86,233,877	)	Jan. 2011		(302,044	)
U.S. Treasury Note, 5-year		(344	)		(41,822,877	)	Jan. 2011		(315,743	)
U.S. Treasury Note, 10-year		423			53,416,969		Dec. 2010		(226,518	)
U.S. Treasury Ultra Bond, 30-year		(50	)		(6,742,187	)	Dec. 2010		64,818
Total								$	(904,100	)

Open Options Contracts Written at Oct. 31, 2010

				Exercise		Premium		Expiration
Issuer	Puts/Calls	Notional amount		price		received		date	Value(a)
U.S. Treasury Note, 10-year	Put	$	2,500,000	$	124.50	$	12,441	Nov. 2010	$	9,375

Notes to Portfolio of Investments
MXN	— Mexican Peso
(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Annual Report dated July 31, 2010.
(b)	Inflation-indexed bonds are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
(c)	Foreign security values are stated in U.S. dollars. For debt securities, principal amounts are denominated in U.S. dollar currency unless otherwise noted. At Oct. 31, 2010, the value of foreign securities, excluding short-term securities, represented 3.01% of net assets.
(d)	Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At Oct. 31, 2010, the value of these securities amounted to $8,856,206 or 1.57% of net assets.
(e)	At Oct. 31, 2010, security was partially or fully on loan.
(f)	Mortgage-backed securities represent direct or indirect participations in, or are secured by and payable from, mortgage loans secured by real property, and include single- and multi-class pass-through securities and collateralized mortgage obligations. These securities may be issued or guaranteed by U.S. government agencies or instrumentalities, or by private issuers, generally originators and investors in mortgage loans, including savings associations, mortgage bankers, commercial banks, investment bankers and special purpose entities. The maturity dates shown represent the original maturity of the underlying obligation. Actual maturity may vary based upon prepayment activity on these obligations. Unless otherwise noted, the coupon rates presented are fixed rates.
(g)	Interest rate varies either based on a predetermined schedule or to reflect current market conditions; rate shown is the effective rate on Oct. 31, 2010.
(h)	Affiliated Money Market Fund — The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at Oct. 31, 2010.
(i)	At Oct. 31, 2010, cash or short-term securities were designated to cover open put and/or call options on futures written.
(j)	The table below represents securities received as collateral for repurchase agreements. This collateral, which is generally high quality short-term obligations, is deposited with the Fund’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the repurchase price plus accrued interest at all times. The value of securities and/or cash held as collateral for repurchase agreements is monitored on a daily basis to ensure the existence of the proper level of collateral.

Societe Generale (0.230%)

Security description	Value (a)
Government National Mortgage Association	$	208,080
Total market value of collateral securities	$	208,080

(k)	At Oct. 31, 2010, the cost of securities purchased, including interest purchased, on a when-issued and/or other forward-commitment basis was $5,374,090.
(l)	At Oct. 31, 2010, the cost of securities for federal income tax purposes was approximately $521,343,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	45,706,000
Unrealized depreciation		(8,000	)
Net unrealized appreciation	$	45,698,000

Fair Value Measurements

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

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

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

• Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (to include NAV for open-end mutual funds). Valuation adjustments are not applied to Level 1 investments.

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

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

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

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

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

	Fair value at Oct. 31, 2010
	Level 1			Level 2
	quoted prices			other		Level 3
	in active			significant		significant
	markets for			observable		unobservable
Description(a)	identical assets			inputs(b)		inputs		Total
Bonds
Foreign Government Obligations & Agencies	$	—		$	8,947,893	$	—	$	8,947,893
U.S. Government Obligations & Agencies		—			513,205,636		—		513,205,636
Asset-Backed Securities		—			3,760,162		857,797		4,617,959
Commercial Mortgage-Backed Securities		—			13,021,676		—		13,021,676
Residential Mortgage-Backed Securities		—			8,912,386		3,998,534		12,910,920
Corporate Debt Securities		—			7,998,409		—		7,998,409
Total Bonds		—			555,846,162		4,856,331		560,702,493
Other
Affiliated Money Market Fund(c)		6,134,459			—		—		6,134,459
Investments of Cash Collateral Received for Securities on Loan		—			204,000		—		204,000
Total Other		6,134,459			204,000		—		6,338,459
Investments in Securities		6,134,459			556,050,162		4,856,331		567,040,952
Derivatives(d)
Assets
Futures Contracts		64,818			—		—		64,818
Liabilities
Futures Contracts		(968,918	)		—		—		(968,918	)
Options Contracts Written		(9,375	)		—		—		(9,375	)
Total	$	5,220,984		$	556,050,162	$	4,856,331	$	566,127,477

(a)	See the Portfolio of Investments for all investment classifications not indicated in the table.
(b)	There were no significant transfers between Levels 1 and 2 during the period.
(c)	Money market fund that is a sweep investment for cash balances in the Fund at Oct. 31, 2010.
(d)	Futures contracts are valued at unrealized appreciation (depreciation).

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

				Residential
	Asset-Backed			Mortgage-Backed
	Securities			Securities		Total
Balance as of July 31, 2010	$	925,026		$	—	$	925,026
Accrued discounts/premiums		2,985			—		2,985
Realized gain (loss)		1,923			—		1,923
Change in unrealized appreciation (depreciation)*		10,855			—		10,855
Sales		(82,992	)		—		(82,992	)
Purchases		—			3,998,534		3,998,534
Transfers into Level 3		—			—		—
Transfers out of Level 3		—			—		—
Balance as of Oct. 31, 2010	$	857,797		$	3,998,534	$	4,856,331

* Change in unrealized appreciation (depreciation) relating to securities held at Oct. 31, 2010 was $10,855.

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

Portfolio of Investments
Columbia Limited Duration Credit Fund
Oct. 31, 2010 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in Securities

Bonds (96.9%)

	Coupon			Principal
Issuer	rate			amount			Value(a)
Banking (6.8%)
American Express Credit Corp.
Senior Unsecured
08-25-14		5.125	%	$	2,000,000		$	2,207,784
ANZ National International Ltd.
Bank Guaranteed
08-10-15		3.125			2,900,000	(c,d)		2,967,179
Bank of America Corp.
Senior Unsecured
05-15-14		7.375			3,900,000			4,421,235
BB&T Corp.
04-29-16		3.950			1,545,000			1,650,222
Citigroup, Inc.
Senior Unsecured
04-11-13		5.500			3,000,000			3,248,010
10-15-14		5.500			1,700,000			1,858,948
JPMorgan Chase & Co.
Senior Unsecured
06-24-15		3.400			7,665,000			7,980,850
KeyCorp
Senior Notes
08-13-15		3.750			1,110,000	(b)		1,146,022
Merrill Lynch & Co., Inc.
Senior Unsecured
08-15-12		6.050			800,000			852,973
Morgan Stanely
Senior Unsecured
11-02-15		3.450			5,370,000	(g)		5,399,449
Santander U.S. Debt SA Unipersonal
Bank Guaranteed
10-07-15		3.781			3,100,000	(c,d)		3,146,652
The Goldman Sachs Group, Inc.
Senior Notes
08-01-15		3.700			5,340,000			5,529,602
The Royal Bank of Scotland PLC
Bank Guaranteed
09-21-15		3.950			2,210,000	(c)		2,277,780
Total								42,686,706
Chemicals (2.5%)
Invista
05-01-12		9.250			544,000	(d)		552,840
Nalco Co.
11-15-13		8.875			1,000,000			1,020,000
The Dow Chemical Co.
Senior Unsecured
02-15-15		5.900			12,500,000			14,085,575
Total								15,658,415

	Coupon		Principal
Issuer	rate		amount		Value(a)
Construction Machinery (1.2%)
Case New Holland, Inc.
09-01-13		7.750		2,365,000		2,583,763
Terex Corp.
01-15-14		7.375		1,400,000		1,424,500
The Manitowoc Co., Inc.
11-01-13		7.125		3,250,000		3,274,375
Total						7,282,638
Consumer Products (0.8%)
Clorox Co.
Senior Unsecured
10-15-17		5.950		1,550,000		1,811,931
Fortune Brands, Inc.
Senior Unsecured
06-15-14		6.375		2,714,000		2,987,919
Total						4,799,850
Electric (23.3%)
Appalachian Power Co.
Senior Unsecured
05-24-15		3.400		2,000,000		2,120,962
Arizona Public Service Co.
Senior Unsecured
03-01-12		6.500		4,000,000		4,267,996
06-30-14		5.800		3,672,000		4,168,447
05-15-15		4.650		2,858,000		3,113,131
Baltimore Gas & Electric Co.
Senior Unsecured
07-01-13		6.125		1,043,000		1,168,266
CenterPoint Energy Houston Electric LLC
03-01-14		7.000		900,000		1,063,136
CMS Energy Corp.
Senior Unsecured
09-30-15		4.250		2,500,000		2,540,625
12-15-15		6.875		5,800,000		6,535,191
Consumers Energy Co.
1st Mortgage
04-15-13		5.375		2,206,000		2,421,895
02-15-14		6.000		650,000		738,823
03-15-15		5.000		2,750,000		3,074,684
Dominion Resources, Inc.
Senior Unsecured
08-01-33		5.250		4,834,000		5,529,323
DTE Energy Co.
Senior Unsecured
05-15-14		7.625		12,870,000		15,302,403
Duke Energy Corp.
Senior Unsecured
02-01-14		6.300		12,175,000		13,955,130
Indiana Michigan Power Co.
Senior Unsecured
11-01-12		6.375		2,500,000		2,728,858
Metropolitan Edison Co.
Senior Unsecured
03-15-13		4.950		5,746,000		6,087,399
04-01-14		4.875		1,067,000		1,152,074

	Coupon		Principal
Issuer	rate		amount			Value(a)
Midamerican Energy Holdings Co.
Senior Unsecured
02-15-14		5.000		1,385,000			1,520,905
Nevada Power Co.
01-15-15		5.875		4,344,000			4,989,983
Nisource Finance Corp.
03-01-13		6.150		500,000			553,440
09-15-17		5.250		10,150,000			11,072,106
Ohio Edison Co.
Senior Unsecured
05-01-15		5.450		3,311,000	(b)		3,716,002
Ohio Power Co.
Senior Unsecured
09-01-13		5.750		1,200,000			1,338,780
01-15-14		4.850		5,980,000			6,494,951
Oncor Electric Delivery Co. LLC
Senior Secured
01-15-15		6.375		3,000,000			3,512,610
PacifiCorp
1st Mortgage
09-15-13		5.450		555,000			619,546
Potomac Electric Power Co.
1st Mortgage
04-15-14		4.650		1,000,000			1,094,841
Progress Energy, Inc.
Senior Unsecured
03-15-14		6.050		3,675,000			4,186,523
01-15-16		5.625		6,215,000			7,139,289
Sierra Pacific Power Co.
09-01-13		5.450		7,032,000			7,735,741
05-15-16		6.000		1,803,000			2,111,746
The Cleveland Electric Illuminating Co.
Senior Unsecured
12-15-13		5.650		3,835,000			4,267,745
TransAlta Corp.
Senior Unsecured
01-15-15		4.750		8,000,000	(c)		8,738,285
Total							145,060,836
Entertainment (0.6%)
Speedway Motorsports, Inc.
06-01-13		6.750		3,480,000			3,514,800
Food and Beverage (10.8%)
Anheuser-Busch InBev Worldwide, Inc.
01-15-14		7.200		12,791,000	(d)		14,994,466
Bacardi Ltd.
04-01-14		7.450		12,180,000	(c,d)		14,379,195
ConAgra Foods, Inc.
Senior Unsecured
06-15-17		5.819		2,170,000			2,514,820
Constellation Brands, Inc.
12-15-14		8.375		2,000,000			2,250,000
Del Monte Corp.
02-15-15		6.750		2,940,000			3,028,200
Kraft Foods, Inc.
Senior Unsecured
08-11-17		6.500		9,022,000			10,831,146

	Coupon		Principal
Issuer	rate		amount			Value(a)
SABMiller PLC
Senior Unsecured
01-15-14		5.700		11,605,000	(c,d)		13,048,349
Sara Lee Corp.
Senior Unsecured
09-15-15		2.750		6,690,000	(b)		6,726,326
Total							67,772,502
Gas Pipelines (7.4%)
CenterPoint Energy Resources Corp.
Senior Unsecured
04-01-13		7.875		3,832,000			4,412,927
01-15-14		5.950		3,000,000			3,350,403
Colorado Interstate Gas Co.
Senior Unsecured
11-15-15		6.800		12,807,000			15,228,074
El Paso Corp.
Senior Unsecured
06-15-12		7.875		1,000,000	(b)		1,067,506
Enterprise Products Operating LLC
06-01-15		3.700		1,250,000			1,325,606
Gulfstream Natural Gas System LLC
Senior Unsecured
06-01-16		6.950		1,721,000	(d)		2,087,205
Kinder Morgan Energy Partners LP
Senior Unsecured
02-15-15		5.625		1,250,000	(b)		1,409,311
Midcontinent Express Pipeline LLC
Senior Unsecured
09-15-14		5.450		1,435,000	(d)		1,566,129
Northwest Pipeline GP
Senior Unsecured
06-15-16		7.000		3,111,000			3,803,344
Panhandle Eastern Pipeline Co. LP
Senior Unsecured
08-15-13		6.050		5,000,000			5,480,805
Plains All American Pipeline LP/Finance Corp.
09-15-15		3.950		1,000,000			1,058,966
Transcontinental Gas Pipe Line Co. LLC
Senior Unsecured
07-15-12		8.875		1,340,000			1,497,049
04-15-16		6.400		3,461,000			4,115,164
Total							46,402,489
Health Care (3.6%)
AmerisourceBergen Corp.
09-15-15		5.875		1,250,000			1,432,884
Cardinal Health, Inc.
Senior Unsecured
06-15-13		5.500		3,010,000			3,305,284
CareFusion Corp.
Senior Unsecured
08-01-14		5.125		5,275,000			5,846,309
Express Scripts, Inc.
06-15-14		6.250		6,800,000			7,821,295
Medco Health Solutions, Inc.
Senior Unsecured
09-15-15		2.750		4,025,000			4,130,341
Total							22,536,113

	Coupon		Principal
Issuer	rate		amount			Value(a)
Health Care Insurance (0.9%)
UnitedHealth Group, Inc.
Senior Unsecured
11-15-12		5.500		2,400,000			2,598,538
WellPoint, Inc.
Senior Unsecured
02-15-14		6.000		2,535,000			2,878,482
Total							5,477,020
Independent Energy (5.9%)
Anadarko Petroleum Corp.
Senior Unsecured
09-15-16		5.950		12,435,000			13,599,538
Canadian Natural Resources Ltd.
Senior Unsecured
08-15-16		6.000		2,020,000	(c)		2,398,172
Chesapeake Energy Corp.
07-15-13		7.625		1,670,000			1,818,213
Denbury Resources, Inc.
04-01-13		7.500		2,000,000			2,027,500
EnCana Corp.
Senior Unsecured
12-01-17		5.900		2,000,000	(c)		2,361,182
EnCana Holdings Finance Corp.
05-01-14		5.800		440,000	(c)		501,402
Forest Oil Corp.
02-15-14		8.500		3,000,000			3,322,500
Newfield Exploration Co.
Senior Subordinated Notes
09-01-14		6.625		700,000			715,750
Woodside Finance Ltd.
11-10-14		4.500		9,675,000	(c,d)		10,437,871
Total							37,182,128
Integrated Energy (1.8%)
Hess Corp.
Senior Unsecured
02-15-14		7.000		4,505,000			5,275,901
PC Financial Partnership
11-15-14		5.000		1,650,000			1,827,231
Petro-Canada
Senior Unsecured
07-15-13		4.000		4,000,000	(c)		4,263,236
Total							11,366,368
Life Insurance (0.4%)
Metropolitan Life Global Funding I
Senior Secured
09-29-15		2.500		2,645,000	(d)		2,664,063
Media Cable (5.3%)
Charter Communications Operating LLC/Capital
Secured
04-30-12		8.000		2,870,000	(d)		3,052,963
Comcast Cable Communications Holdings, Inc.
03-15-13		8.375		3,897,000			4,510,318

	Coupon		Principal
Issuer	rate		amount			Value(a)
Comcast Corp.
11-15-15		5.850		5,000,000			5,843,709
Comcast Holdings Corp.
07-15-12		10.625		1,000,000			1,150,933
CSC Holdings LLC
Senior Unsecured
04-15-14		8.500		1,000,000			1,115,000
DIRECTV Holdings LLC/Financing Co., Inc.
02-15-16		3.125		8,540,000			8,746,189
DISH DBS Corp.
10-01-11		6.375		800,000			828,000
10-01-14		6.625		1,700,000			1,799,875
Time Warner Cable, Inc.
04-01-14		7.500		2,500,000			2,948,240
Videotron Ltee
01-15-14		6.875		2,890,000	(c)		2,929,738
Total							32,924,965
Media Non-Cable (7.4%)
BSKYB Finance UK PLC
10-15-15		5.625		1,550,000	(c,d)		1,777,918
NBC Universal, Inc.
Senior Unsecured
04-30-15		3.650		5,000,000	(d)		5,307,399
News America Holdings, Inc.
02-01-13		9.250		1,610,000			1,885,672
Rainbow National Services LLC
09-01-12		8.750		2,000,000	(d)		2,012,500
Reed Elsevier Capital, Inc.
06-15-12		4.625		1,530,000			1,602,343
01-15-14		7.750		4,585,000			5,380,910
RR Donnelley & Sons Co.
Senior Unsecured
04-01-14		4.950		8,700,000			9,094,241
05-15-15		5.500		6,000,000			6,281,022
TCM Sub LLC
01-15-15		3.550		12,500,000	(d)		13,222,256
Total							46,564,261
Metals (2.2%)
ArcelorMittal
Senior Unsecured
08-05-15		3.750		1,665,000	(c)		1,714,535
ArcelorMittal USA, Inc.
04-15-14		6.500		9,025,000			10,037,930
Arch Western Finance LLC
07-01-13		6.750		384,000			387,840
United States Steel Corp.
Senior Unsecured
06-01-13		5.650		1,825,000			1,913,969
Total							14,054,274
Non-Captive Diversified (0.8%)
General Electric Capital Corp.
Senior Unsecured
06-29-15		3.500		5,000,000	(b)		5,292,935
Oil Field Services (—%)
Weatherford International Ltd.
03-15-13		5.150		37,000	(c)		39,673

	Coupon		Principal
Issuer	rate		amount			Value(a)
Packaging (0.7%)
Owens-Brockway Glass Container, Inc.
12-01-14		6.750		1,750,000			1,789,375
Silgan Holdings, Inc.
Senior Subordinated Notes
11-15-13		6.750		2,800,000			2,842,000
Total							4,631,375
Railroads (0.4%)
CSX Corp.
Senior Unsecured
03-15-13		5.750		2,130,000			2,346,615
Retailers (1.9%)
CVS Caremark Corp.
Senior Unsecured
06-01-17		5.750		10,220,000			11,789,567
Transportation Services (1.9%)
ERAC USA Finance LLC
11-15-15		5.900		2,600,000	(d)		3,005,197
10-15-17		6.375		7,765,000	(d)		8,943,376
Total							11,948,573
Wireless (3.5%)
Nextel Communications, Inc.
03-15-14		5.950		3,500,000			3,513,125
Rogers Communications, Inc.
03-01-14		6.375		8,090,000	(c)		9,341,936
Sprint Capital Corp.
03-15-12		8.375		1,000,000			1,068,750
Vodafone Group PLC
Senior Unsecured
01-30-15		5.375		7,000,000	(c)		7,955,346
Total							21,879,157
Wirelines (6.8%)
Embarq Corp.
Senior Unsecured
06-01-16		7.082		12,200,000			13,930,411
Frontier Communications Corp.
Senior Unsecured
01-15-13		6.250		5,511,000			5,841,660
Telecom Italia Capital SA
10-01-15		5.250		4,000,000	(c)		4,398,060
Telefonica Emisiones SAU
01-15-15		4.949		10,000,000	(c)		11,040,920
Verizon New York, Inc.
Senior Unsecured
04-01-12		6.875		4,030,000			4,346,746
Windstream Corp.
08-01-13		8.125		2,600,000			2,863,250
Total							42,421,047
Total Bonds (Cost: $574,030,441)						$	606,296,370

Money Market Fund (1.7%)

	Shares			Value(a)
Columbia Short-Term Cash Fund, 0.241%		10,612,186	(e)	$	10,612,186
Total Money Market Fund (Cost: $10,612,186)				$	10,612,186

Investments of Cash Collateral Received for Securities on Loan (0.8%)

	Effective			Principal
Issuer	yield			amount		Value(a)
Repurchase Agreements(f)
Societe Generale dated 10-29-10, matures 11-01-10, repurchase price $5,109,995		0.230	%	$	5,109,898	$	5,109,898
Total Investments of Cash Collateral Received for Securities on Loan
(Cost: $5,109,898)						$	5,109,898
Total Investments in Securities
(Cost: $589,752,525)(h)						$	622,018,454

Investments in Derivatives

At Oct. 31, 2010, $1,823,400 was held in a margin deposit account as collateral to cover initial margin requirements on open interest rate futures contracts.

Futures Contracts Outstanding at Oct. 31, 2010

	Number of							Unrealized
	contracts			Notional			Expiration	appreciation
Contract description	long (short)			market value			date	(depreciation)
U.S. Treasury Note, 5-year		(1,686	)	$	(204,980,727	)	Jan. 2011	$	(2,283,474	)
U.S. Treasury Note, 10-year		(339	)		(42,809,344	)	Dec. 2010		(691,517	)
Total								$	(2,974,991	)

Notes to Portfolio of Investments

(a)	Securities are valued by using policies described in Note 2 to the financial statements in the most recent Annual Report dated July 31, 2010.
(b)	At Oct. 31, 2010, security was partially or fully on loan.
(c)	Foreign security values are stated in U.S. dollars. For debt securities, principal amounts are denominated in U.S. dollar currency unless otherwise noted. At Oct. 31, 2010, the value of foreign securities, excluding short-term securities, represented 16.57% of net assets.
(d)	Represents a security sold under Rule 144A, which is exempt from registration under the Securities Act of 1933, as amended. This security may be determined to be liquid under guidelines established by the Fund’s Board of Directors. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At Oct. 31, 2010, the value of these securities amounted to $103,165,558 or 16.48% of net assets.
(e)	Affiliated Money Market Fund — The Fund may invest its daily cash balance in Columbia Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other institutional clients of Columbia Management. The rate shown is the seven-day current annualized yield at Oct. 31, 2010.
(f)	The table below represents securities received as collateral for repurchase agreements. This collateral, which is generally high quality short-term obligations, is deposited with the Fund’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the repurchase price plus accrued interest at all times. The value of securities and/or cash held as collateral for repurchase agreements is monitored on a daily basis to ensure the existence of the proper level of collateral.

Societe Generale (0.230%)

Security description	Value (a)
Government National Mortgage Association	$	5,212,095
Total market value of collateral securities	$	5,212,095

(g)	At Oct. 31, 2010, the cost of securities purchased, including interest purchased, on a when-issued and/or other forward-commitment basis was $5,366,563.
(h)	At Oct. 31, 2010, the cost of securities for federal income tax purposes was approximately $589,753,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized appreciation	$	32,323,000
Unrealized depreciation		(58,000	)
Net unrealized appreciation	$	32,265,000

Fair Value Measurements

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

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

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

• Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (to include NAV for open-end mutual funds). Valuation adjustments are not applied to Level 1 investments.

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

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

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

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

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

	Fair value at Oct. 31, 2010
	Level 1			Level 2
	quoted prices			other		Level 3
	in active			significant		significant
	markets for			observable		unobservable
Description(a)	identical assets			inputs(b)		inputs		Total
Bonds
Corporate Debt Securities	$	—		$	606,296,370	$	—	$	606,296,370
Total Bonds		—			606,296,370		—		606,296,370
Other
Affiliated Money Market Fund(c)		10,612,186			—		—		10,612,186
Investments of Cash Collateral Received for Securities on Loan		—			5,109,898		—		5,109,898
Total Other		10,612,186			5,109,898		—		15,722,084
Investments in Securities		10,612,186			611,406,268		—		622,018,454
Derivatives(d)
Liabilities
Futures Contracts		(2,974,991	)		—		—		(2,974,991	)
Total	$	7,637,195		$	611,406,268	$	—	$	619,043,463

(a)	See the Portfolio of Investments for all investment classifications not indicated in the table.
(b)	There were no significant transfers between Levels 1 and 2 during the period.
(c)	Money market fund that is a sweep investment for cash balances in the Fund at Oct. 31, 2010.
(d)	Derivative instruments are valued at unrealized appreciation (depreciation).

Item 2. Control and Procedures.

(a) The registrant’s principal executive officer and principal financial officer, based on their evaluation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that material information required to be disclosed by the registrant in Form N-Q is accumulated and communicated to the registrant’s management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

(b) There was no change in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) RiverSource Bond Series, Inc.
By	/s/ J. Kevin Connaughton
	J. Kevin Connaughton
	President and Principal Executive Officer
Date	December 20, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By	/s/ J. Kevin Connaughton
	J. Kevin Connaughton
	President and Principal Executive Officer
Date	December 20, 2010
By	/s/ Jeffrey P. Fox
	Jeffrey P. Fox
	Treasurer and Principal Financial Officer
Date	December 20, 2010