N-Q 1 a10-8039_1nq.htm N-Q

 

 

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

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FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-04367

 

 

Columbia Funds Series Trust I

(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:

1-612-671-1947

 

 

Date of fiscal year end:

December 31

 

 

 

 

Date of reporting period:

March 31, 2010

 

 



 

Item 1. Schedule of Investments.

 



 

INVESTMENT PORTFOLIO

March 31, 2010 (Unaudited)

 

Columbia Real Estate Equity Fund

 

 

 

 

Shares

 

Value ($)*

 

Common Stocks — 99.1%

 

 

 

 

 

 

CONSUMER DISCRETIONARY — 2.3%

 

 

 

 

 

 

Hotels, Restaurants & Leisure — 2.3%

 

 

 

 

 

 

Starwood Hotels & Resorts Worldwide, Inc.

 

77,198

 

3,600,515

 

 

Vail Resorts, Inc. (a)

 

93,900

 

3,764,451

 

Hotels, Restaurants & Leisure Total

 

7,364,966

 

CONSUMER DISCRETIONARY TOTAL

 

7,364,966

 

FINANCIALS — 95.7%

 

 

 

 

 

 

Real Estate Investment Trusts (REITs) — 95.4%

 

 

 

 

 

 

Alexandria Real Estate Equities, Inc.

 

230,700

 

15,595,320

 

 

AvalonBay Communities, Inc.

 

87,600

 

7,564,260

 

 

BioMed Realty Trust, Inc.

 

843,300

 

13,948,182

 

 

Boardwalk Real Estate Investment Trust (b) CAD

 

198,108

 

7,850,979

 

 

Boston Properties, Inc.

 

193,000

 

14,559,920

 

 

Brandywine Realty Trust

 

623,354

 

7,611,152

 

 

CBL & Associates Properties, Inc.

 

365,146

 

5,002,500

 

 

Corporate Office Properties Trust SBI MD

 

378,262

 

15,179,654

 

 

Digital Realty Trust, Inc.

 

308,465

 

16,718,803

 

 

Entertainment Properties Trust

 

335,600

 

13,803,228

 

 

Equity Lifestyle Properties, Inc.

 

267,556

 

14,415,917

 

 

Equity Residential Property Trust

 

261,038

 

10,219,638

 

 

Extra Space Storage, Inc.

 

150,700

 

1,910,876

 

 

Federal Realty Investment Trust

 

245,270

 

17,858,109

 

 

Health Care REIT, Inc.

 

73,600

 

3,328,928

 

 

Host Hotels & Resorts, Inc.

 

850,404

 

12,458,419

 

 

Liberty Property Trust

 

243,500

 

8,264,390

 

 

Mid-America Apartment Communities, Inc.

 

162,902

 

8,436,694

 

 

Potlatch Corp.

 

397,719

 

13,936,074

 

 

Public Storage

 

231,509

 

21,296,513

 

 

Ramco-Gershenson Properties Trust

 

268,300

 

3,021,058

 

 

Simon Property Group, Inc.

 

505,351

 

42,398,949

 

 

Sunstone Hotel Investors, Inc. (a)

 

85,100

 

950,567

 

 

Ventas, Inc.

 

449,637

 

21,348,765

 

 

Vornado Realty Trust

 

150,420

 

11,386,794

 

Real Estate Investment Trusts (REITs) Total

 

309,065,689

 

 

1



 

 

 

 

Shares

 

Value ($)

 

Common Stocks — (continued)

 

 

 

 

 

 

FINANCIALS — (continued)

 

 

 

 

 

 

Real Estate Management & Development — 0.3%

 

 

 

 

 

 

Jones Lang LaSalle, Inc.

 

11,300

 

823,657

 

Real Estate Management & Development Total

 

823,657

 

FINANCIALS TOTAL

 

309,889,346

 

HEALTH CARE — 1.1%

 

 

 

 

 

 

Health Care Providers & Services — 1.1%

 

 

 

 

 

 

Emeritus Corp. (a)

 

174,600

 

3,553,110

 

Health Care Providers & Services Total

 

3,553,110

 

HEALTH CARE TOTAL

 

3,553,110

 

 

 

 

 

 

 

 

 

Total Common Stocks
(cost of $235,910,185)

 

 

 

320,807,422

 

 

 

 

 

 

 

 

 

 

 

Par ($)

 

 

 

Short-Term Obligation — 0.7%

 

 

 

 

 

 

 

Repurchase agreement with Fixed Income Clearing Corp., dated 03/31/10, due 04/01/10 at 0.000%, collateralized by a U.S. Treasury obligation maturing 04/22/10, market value $2,388,805 (repurchase proceeds $2,338,000)

 

2,338,000

 

2,338,000

 

 

 

 

 

 

 

 

 

Total Short-Term Obligation
(cost of $2,338,000)

 

 

 

2,338,000

 

 

 

 

 

 

 

 

 

Total Investments — 99.8%
(cost of $238,248,185)(c)(d)

 

 

 

323,145,422

 

 

 

 

 

 

 

 

 

Other Assets & Liabilities, Net — 0.2%

 

643,812

 

 

 

 

 

 

 

 

Net Assets — 100.0%

 

 

 

323,789,234

 

 


 

 

Notes to Investment Portfolio:

 

 

*

Security Valuation:

 

Equity securities are valued at the last sale price on the principal exchange on which they trade, except for securities traded on the NASDAQ, which are valued at the NASDAQ official close price. Unlisted securities or listed securities for which there were no sales during the day are valued at the closing bid price on such exchanges or over-the-counter markets.

 

Short-term investments maturing in 60 days or less are valued at amortized cost, which approximates market value.

 

Investments for which market quotations are not readily available, or that have quotations which management believes are not reliable, are valued at fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees. If a security is valued at fair value, such value is likely to be different from the last quoted market price for the security. The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine value.

 

2



 

 

 

 

Accounting principles generally accepted in the United States of America (“GAAP”) establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value giving the highest priority to unadjusted quoted prices in active markets for identical securities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements) when market prices are not readily available or reliable.  The three levels of the fair value hierarchy are described below:

 

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

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

·      Level 3 — prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable or less reliable, unobservable inputs may be used.  Unobservable inputs may include management’s own assumptions about the factors market participants would use in pricing an investment.

 

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

 

The following table summarizes the inputs used, as of March 31, 2010, in valuing the Fund’s assets:

 

Description

 

Quoted Prices
(Level 1)

 

Other
Significant
Observable
Inputs
(Level 2)

 

Significant
Unobservable Inputs
(Level 3)

 

Total

 

Total Common Stocks

 

$

320,807,422

 

$

 

$

 

$

320,807,422

 

Total Short-Term Obligation

 

 

2,338,000

 

 

2,338,000

 

Total Investments

 

$

320,807,422

 

$

2,338,000

 

$

 

$

323,145,422

 

 

 

 

 

The Fund’s assets assigned to the Level 2 input category are generally valued using the market approach, in which a security’s value is determined through its correlation to prices and information from market transactions for similar or identical assets.

 

Certain Short-Term Obligations may be valued using amortized cost, an income approach which converts future cash flows to a present value based upon the yield at purchase.

 

 

 

 

 

 

(a)

Non-income producing security.

 

 

(b)

This security denominated in Canadian dollars.

 

 

(c)

Cost for federal income tax purposes is $238,248,185.

 

 

(d)

Unrealized appreciation and depreciation at March 31, 2010 based on cost of investments for federal income tax purposes was:

 

 

 

 

 

 

 

 

Unrealized

 

Unrealized

 

Net Unrealized

 

 

 

 

 

 

Appreciation

 

Depreciation

 

Appreciation

 

 

 

 

 

 

$

87,105,826

 

$

(2,208,589

)

$

84,897,237

 

 

 

 

 

 

 

Acronym

 

Name

 

 

CAD

 

Canadian Dollar

 

3



 

Item  2. Controls and Procedures.

 

(a)          The registrant’s principal executive officer and principal financial officers, 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 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)

 

Columbia Funds Series Trust I

 

 

 

 

 

 

 

 

 

By (Signature and Title)

 

/s/ J. Kevin Connaughton

 

 

 

J. Kevin Connaughton, President

 

 

 

 

 

 

 

 

 

Date

 

May 21, 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 (Signature and Title)

 

/s/ J. Kevin Connaughton

 

 

 

J. Kevin Connaughton, President

 

 

 

 

 

 

 

 

 

Date

 

May 21, 2010

 

 

By (Signature and Title)

 

/s/ Michael G. Clarke

 

 

 

Michael G. Clarke, Chief Financial Officer

 

 

 

 

 

 

 

 

 

Date

 

May 21, 2010