OMB APPROVAL
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	Expires:	January 31, 2016
UNITED STATES	Estimated average burden hours per response. . . . . . . . . . . . . 10.5
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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)
225 Franklin Street, Boston, Massachusetts					02110
(Address of principal executive offices)					(Zip code)
Christopher O. Petersen, Esq. c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Boston, MA 02110
(Name and address of agent for service)
Registrant’s telephone number, including area code:				(800) 345-6611
Date of fiscal year end:	April 30
Date of reporting period:		July 31, 2013

Item 1. Schedule of Investments.

Portfolio of Investments

Columbia Bond Fund

July 31, 2013 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes 24.5%
Aerospace & Defense 0.2%
L-3 Communications Corp.
02/15/21	4.950%	$	1,885,000	$	1,994,952
Lockheed Martin Corp. Senior Unsecured
09/15/21	3.350%	695,000		694,332
Total				2,689,284
Automotive 0.7%
Ford Motor Credit Co. LLC Senior Unsecured
06/15/16	3.984%	7,010,000		7,361,643
Banking 3.4%
Bank of America Corp. Senior Unsecured
01/24/22	5.700%	1,695,000		1,903,717
Bank of New York Mellon (a)
12/29/49	4.500%	1,555,000		1,430,600
Barclays Bank PLC (a)(b)
09/29/49	7.434%	1,006,000		1,084,971
HSBC Holdings PLC Senior Unsecured
01/14/22	4.875%	515,000		558,393
HSBC USA, Inc. Subordinated Notes
09/27/20	5.000%	2,820,000		2,993,010
ING Bank NV Senior Unsecured (b)
03/15/16	4.000%	2,685,000		2,843,066
JPMorgan Chase & Co. (a)
12/29/49	5.150%	867,000		804,143
JPMorgan Chase Capital XXI (a)
02/02/37	1.216%	615,000		473,550
JPMorgan Chase Capital XXIII (a)
05/15/47	1.275%	6,130,000		4,720,100
KeyCorp Senior Unsecured
03/24/21	5.100%	3,865,000		4,288,848
M&T Bank Corp. (b)
12/31/49	6.875%	1,100,000		1,144,831
Merrill Lynch & Co., Inc. Subordinated Notes
05/02/17	5.700%	1,465,000		1,596,280
Royal Bank of Scotland Group PLC Senior Unsecured
09/18/15	2.550%	1,785,000		1,822,101
State Street Corp.
03/15/18	4.956%	3,640,000		4,014,854

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Banking (continued)
U.S. Bancorp Subordinated Notes
07/15/22	2.950%	$	7,252,000	$	6,876,375
Total				36,554,839
Chemicals 0.8%
Lubrizol Corp.
02/01/19	8.875%	2,035,000		2,703,760
LyondellBasell Industries NV
Senior Unsecured
04/15/19	5.000%	1,655,000		1,832,380
11/15/21	6.000%	3,345,000		3,829,175
Total				8,365,315
Diversified Manufacturing 0.4%
General Electric Co.
Senior Unsecured
10/09/22	2.700%	3,485,000		3,316,957
10/09/42	4.125%	1,446,000		1,348,343
Total				4,665,300
Electric 3.7%
Alabama Power Co. Senior Unsecured
03/15/41	5.500%	1,234,000		1,399,273
Commonwealth Edison Co.
1st Mortgage
09/15/17	6.150%	1,495,000		1,752,125
08/01/20	4.000%	3,020,000		3,226,163
Senior Unsecured
07/15/18	6.950%	1,130,000		1,337,015
Consolidated Edison Co. of New York, Inc. Senior Unsecured
04/01/38	6.750%	150,000		195,000
DTE Electric Co. Senior Secured
10/01/20	3.450%	2,395,000		2,504,229
Dominion Resources, Inc. Senior Unsecured
08/15/19	5.200%	325,000		370,474
Duke Energy Carolinas LLC
1st Mortgage
10/01/15	5.300%	295,000		324,320
1st Refunding Mortgage
09/30/42	4.000%	2,502,000		2,298,004
FPL Energy National Wind LLC Senior Secured (b)
03/10/24	5.608%	471,040		423,892
FirstEnergy Corp.
Senior Unsecured
03/15/18	2.750%	3,290,000		3,185,520
03/15/23	4.250%	1,365,000		1,246,186

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Electric (continued)
Georgia Power Co.
Senior Unsecured
06/01/17	5.700%	$	990,000	$	1,134,290
09/01/40	4.750%	1,205,000		1,207,729
Nevada Power Co.
09/15/40	5.375%	2,795,000		3,139,861
Niagara Mohawk Power Corp. Senior Unsecured (b)
08/15/19	4.881%	1,615,000		1,815,336
Oncor Electric Delivery Co. LLC
Senior Secured
06/01/22	4.100%	574,000		600,666
12/01/41	4.550%	2,500,000		2,428,183
PPL Capital Funding, Inc.
06/01/18	1.900%	1,190,000		1,171,521
06/01/23	3.400%	4,365,000		4,166,353
Pacific Gas & Electric Co.
Senior Unsecured
06/15/23	3.250%	1,753,000		1,720,501
01/15/40	5.400%	830,000		912,748
Peco Energy Co. 1st Mortgage
03/01/18	5.350%	1,640,000		1,897,441
Southern California Edison Co. 1st Refunding Mortgage
09/01/40	4.500%	960,000		977,391
Total				39,434,221
Entertainment 0.2%
Time Warner, Inc.
11/15/36	6.500%	1,450,000		1,677,823
Food and Beverage 0.9%
ConAgra Foods, Inc. Senior Unsecured
10/01/28	7.000%	2,700,000		3,303,499
Heineken NV Senior Unsecured (b)
10/01/17	1.400%	4,550,000		4,448,535
PepsiCo, Inc. Senior Unsecured
01/15/20	4.500%	1,660,000		1,820,875
Total				9,572,909
Gas Distributors 0.2%
Sempra Energy Senior Unsecured
06/01/16	6.500%	1,805,000		2,064,461
Gas Pipelines 2.1%
El Paso Pipeline Partners Operating Co. LLC
10/01/21	5.000%	3,000,000		3,234,633

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Gas Pipelines (continued)
Energy Transfer Partners LP Senior Unsecured
02/01/42	6.500%	$	515,000	$	565,758
Enterprise Products Operating LLC
08/13/15	1.250%	2,953,000		2,971,359
03/15/23	3.350%	1,340,000		1,292,496
NiSource Finance Corp.
09/15/17	5.250%	605,000		674,742
02/15/23	3.850%	2,645,000		2,594,623
12/15/40	6.250%	435,000		485,165
Southern Natural Gas Co. LLC/Issuing Corp. Senior Unsecured
06/15/21	4.400%	1,965,000		2,030,038
Southern Natural Gas Co. LLC Senior Unsecured
03/01/32	8.000%	2,055,000		2,709,928
TransCanada PipeLines Ltd. (a)
05/15/67	6.350%	4,190,000		4,398,306
Williams Partners LP Senior Unsecured
04/15/40	6.300%	1,620,000		1,721,156
Total				22,678,204
Health Care 0.3%
Express Scripts Holding Co.
02/15/22	3.900%	2,690,000		2,738,229
Healthcare Insurance 0.2%
Aetna, Inc. Senior Unsecured
11/15/22	2.750%	2,345,000		2,172,499
Independent Energy 1.0%
Canadian Natural Resources Ltd. Senior Unsecured
03/15/38	6.250%	1,555,000		1,781,343
Devon Energy Corp. Senior Unsecured
01/15/19	6.300%	1,140,000		1,335,692
Hess Corp. Senior Unsecured
08/15/31	7.300%	3,266,000		4,038,059
Nexen, Inc.
Senior Unsecured
05/15/37	6.400%	1,485,000		1,643,090
07/30/39	7.500%	1,780,000		2,221,572
Total				11,019,756

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Integrated Energy 1.1%
Chevron Corp. Senior Unsecured
06/24/20	2.427%	$	5,775,000	$	5,723,810
Shell International Finance BV
08/21/22	2.375%	6,800,000		6,370,934
Total				12,094,744
Life Insurance 1.2%
MetLife Capital Trust X (b)
04/08/38	9.250%	2,100,000		2,793,000
MetLife, Inc.
08/01/39	10.750%	1,635,000		2,485,200
Prudential Financial, Inc. (a)
06/15/38	8.875%	6,265,000		7,549,325
Total				12,827,525
Media Cable 0.2%
DIRECTV Holdings LLC/Financing Co., Inc.
02/15/16	3.125%	940,000		976,663
Time Warner Cable, Inc.
09/01/41	5.500%	860,000		736,397
Total				1,713,060
Media Non-Cable 0.3%
News America, Inc.
12/15/35	6.400%	1,615,000		1,831,093
Reed Elsevier Capital, Inc.
10/15/22	3.125%	1,460,000		1,352,525
Total				3,183,618
Metals 0.7%
Nucor Corp.
Senior Unsecured
09/15/22	4.125%	485,000		495,403
08/01/23	4.000%	4,535,000		4,464,023
Rio Tinto Finance USA PLC
08/21/22	2.875%	780,000		717,115
Vale Overseas Ltd.
11/21/36	6.875%	1,740,000		1,717,918
Total				7,394,459
Non-Captive Consumer 0.2%
Discover Financial Services Senior Unsecured
11/21/22	3.850%	2,468,000		2,357,369
Non-Captive Diversified 0.8%
General Electric Capital Corp.
Senior Unsecured
01/07/21	4.625%	2,900,000		3,108,957

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Non-Captive Diversified (continued)
09/07/22	3.150%	$	2,190,000	$	2,069,565
01/09/23	3.100%	3,140,000		2,952,061
Total				8,130,583
Oil Field Services 0.2%
Halliburton Co. Senior Unsecured
09/15/18	5.900%	1,130,000		1,327,983
Weatherford International Ltd.
03/15/38	7.000%	785,000		846,502
Total				2,174,485
Other Industry 0.4%
President and Fellows of Harvard College
10/01/37	3.619%	315,000		276,967
Senior Notes
10/15/40	4.875%	1,930,000		2,056,996
President and Fellows of Harvard College (b)
01/15/39	6.500%	1,460,000		1,930,644
Total				4,264,607
Pharmaceuticals 0.4%
Johnson & Johnson Senior Unsecured
05/15/41	4.850%	3,637,000		3,968,731
Property & Casualty 0.2%
Transatlantic Holdings, Inc. Senior Unsecured
11/30/39	8.000%	1,630,000		2,066,457
Railroads 0.5%
BNSF Funding Trust I (a)
12/15/55	6.613%	1,885,000		2,158,325
Burlington Northern Santa Fe LLC Senior Unsecured
08/15/30	7.950%	1,000,000		1,316,991
CSX Corp. Senior Unsecured
05/30/42	4.750%	415,000		402,002
Union Pacific Corp. Senior Unsecured
08/15/18	5.700%	1,010,000		1,177,837
Total				5,055,155
REITs 0.2%
Duke Realty LP
08/15/19	8.250%	2,124,600		2,656,763

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Restaurants 0.5%
McDonald’s Corp.
07/15/40	4.875%	$	1,590,000	$	1,699,367
Senior Unsecured
02/01/39	5.700%	1,210,000		1,438,181
05/01/43	3.625%	2,660,000		2,333,489
Total				5,471,037
Retailers 0.1%
Macy’s Retail Holdings, Inc.
03/15/37	6.375%	815,000		913,837
Supranational 0.2%
European Investment Bank Senior Unsecured
05/30/17	5.125%	2,245,000		2,569,492
Technology 0.6%
Corning, Inc. Senior Unsecured
03/15/42	4.750%	1,790,000		1,750,221
Oracle Corp.
Senior Unsecured
10/15/22	2.500%	4,390,000		4,082,371
07/15/23	3.625%	965,000		975,587
Total				6,808,179
Wireless 0.2%
Cellco Partnership/Verizon Wireless Capital LLC Senior Unsecured
11/15/18	8.500%	1,590,000		2,064,232
Wirelines 2.4%
AT&T, Inc.
Senior Unsecured
06/15/16	5.625%	1,070,000		1,200,004
12/01/22	2.625%	12,795,000		11,686,838
Telecom Italia Capital SA
07/18/36	7.200%	2,040,000		1,976,625
Telefonica Emisiones SAU
06/20/16	6.421%	2,645,000		2,909,569
07/03/17	6.221%	920,000		1,013,157
04/27/18	3.192%	1,345,000		1,328,709
04/27/20	5.134%	1,405,000		1,443,529
Verizon Communications, Inc.
Senior Unsecured
04/01/21	4.600%	950,000		1,029,346
11/01/22	2.450%	1,275,000		1,151,833
Verizon New England, Inc.
11/15/29	7.875%	555,000		679,532

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Wirelines (continued)
Verizon New York, Inc.
04/01/32	7.375%	$	1,529,000	$	1,841,545
Total				26,260,687
Total Corporate Bonds & Notes (Cost: $254,811,962)				$	262,969,503
Residential Mortgage-Backed Securities - Agency(c)  30.5%
Federal Home Loan Mortgage Corp. (d)(e)
06/01/43	3.500%	8,250,000		8,306,789
Federal Home Loan Mortgage Corp. (e)
12/01/40	4.000%	22,141,209		23,004,683
05/01/41	4.500%	16,907,454		17,979,875
03/01/21- 05/01/41	5.000%	2,251,955		2,460,792
12/01/14- 12/01/35	7.000%	521,282		594,445
09/01/25- 10/01/29	7.500%	60,551		70,041
06/01/26	8.000%	922		1,098
09/01/16	9.500%	266		289
Federal National Mortgage Association (a)(e)
08/01/36	2.324%	108,925		109,271
Federal National Mortgage Association (d)(e)
08/01/28	2.500%	14,900,000		14,888,360
08/01/43	3.000%	22,900,000		22,195,111
08/01/43	3.500%	28,750,000		28,983,594
Federal National Mortgage Association (e)
10/01/42- 05/01/43	3.000%	18,270,043		17,732,227
05/01/43	3.500%	3,029,613		3,059,319
12/01/40- 12/01/41	4.000%	53,276,372		55,437,369
05/01/41- 07/01/41	4.500%	29,657,364		31,659,044
09/01/40	5.000%	4,468,023		4,816,126
08/01/37- 01/01/40	5.500%	16,319,508		17,804,883
07/01/38	6.000%	7,740,967		8,461,881
06/01/32	7.000%	11,511		12,349
10/01/15- 01/01/30	7.500%	41,583		47,480
12/01/29- 05/01/30	8.000%	186,914		212,127
08/01/17	8.500%	227		230
10/01/20- 12/01/20	10.000%	96,974		108,256
Government National Mortgage Association (a)(e)
04/20/22- 06/20/28	1.750%	209,749		217,892
07/20/21	2.000%	22,305		23,133
Government National Mortgage Association (d)(e)
08/01/43	3.000%	11,500,000		11,253,829
08/01/43	3.500%	20,000,000		20,362,500

Issuer	Coupon Rate	Principal Amount		Value
Residential Mortgage-Backed Securities - Agency (c) (continued)
Government National Mortgage Association (e)
02/15/41	4.000%	$	11,831,276	$	12,366,258
06/15/39- 03/15/41	4.500%	21,661,008		23,054,357
03/20/28	6.000%	82,163		90,592
05/15/23- 12/15/31	6.500%	135,768		153,808
09/15/13- 05/15/32	7.000%	301,377		345,407
04/15/26- 03/15/30	7.500%	325,941		360,419
05/15/23- 01/15/30	8.000%	186,352		211,565
01/15/17- 12/15/17	8.500%	231,366		246,915
11/15/17- 06/15/30	9.000%	162,880		174,493
11/15/17- 08/15/20	9.500%	139,180		149,648
05/15/16- 07/15/17	10.000%	10,005		10,193
Vendee Mortgage Trust (a)(e)(f)
CMO IO Series 1998-1 Class 2IO
03/15/28	0.386%	3,448,138		25,151
CMO IO Series 1998-3 Class IO
03/15/29	0.247%	4,497,607		20,076
Total Residential Mortgage-Backed Securities - Agency (Cost: $323,466,300)				$	327,011,875
Residential Mortgage-Backed Securities - Non-Agency 0.4%
American Mortgage Trust Series 2093-3 Class 3A (a)(e)(g)(h)
07/27/23	8.188%	6,023		3,652
BNPP Mortgage Securities LLC CMO Series 2009-1 Class A1 (b)(e)
08/27/37	6.000%	542,585		570,208
Credit Suisse Mortgage Capital Certificates (a)(b)(e)
CMO Series 2011-16R Class 7A3
12/27/36	3.500%	1,099,567		1,119,414
CMO Series 2011-17R Class 2A1
12/27/37	3.400%	1,183,744		1,194,089
Springleaf Mortgage Loan Trust CMO Series 2012-1A Class A (a)(b)(e)
09/25/57	2.667%	1,189,209		1,211,997
Total Residential Mortgage-Backed Securities - Non-Agency (Cost: $4,040,331)				$	4,099,360

Issuer	Coupon Rate	Principal Amount		Value
Commercial Mortgage-Backed Securities - Agency 0.1%
Federal National Mortgage Association (e)
02/01/19	7.785%	$	635,184	$	694,238
Total Commercial Mortgage-Backed Securities - Agency (Cost: $645,614)				$	694,238
Commercial Mortgage-Backed Securities - Non-Agency 11.2%
Bear Stearns Commercial Mortgage Securities (e)
Series 2002-TOP8 Class A2
08/15/38	4.830%	15,766		15,759
Series 2006-T24 Class A4
10/12/41	5.537%	4,328,000		4,804,400
Citigroup/Deutsche Bank Commercial Mortgage Trust Series 2007-CD4 Class A4 (e)
12/11/49	5.322%	8,830,000		9,735,483
Commercial Mortgage Asset Trust Series 1999-C2 Class C (a)(e)
11/17/32	7.776%	1,235,783		1,245,264
Commercial Mortgage Pass Through Certificates Series 2012-LC4 Class A4 (e)
12/10/44	3.288%	5,100,000		5,037,178
Commercial Mortgage Pass-Through Certificates Series 2013-LC6 Class A2 (e)
01/10/46	1.906%	525,000		521,124
Credit Suisse Commercial Mortgage Trust Series 2006-C3 Class A3 (a)(e)
06/15/38	5.798%	8,640,573		9,504,406
DBRR Trust Series 2012-EZ1 Class A (b)(e)
09/25/45	0.946%	2,841,238		2,846,026
GS Mortgage Securities Corp. II (a)(e)
Series 2007-GG10 Class A4
08/10/45	5.799%	2,989,000		3,328,093
GS Mortgage Securities Corp. II (e)
Series 2012-GCJ7 Class A2
05/10/45	2.318%	1,655,000		1,688,969
Greenwich Capital Commercial Funding Corp. (e)
Series 2007-GG11 Class A4
12/10/49	5.736%	3,450,000		3,869,905
Series 2007-GG9 Class A4
03/10/39	5.444%	8,195,000		9,084,682
JPMorgan Chase Commercial Mortgage Securities Corp. (a)(e)
Series 2006-CB15 Class ASB
06/12/43	5.790%	1,289,009		1,351,655
JPMorgan Chase Commercial Mortgage Securities Corp. (e)
Series 2012-LC9 Class A5
12/15/47	2.840%	5,054,000		4,721,337
JPMorgan Chase Commercial Mortgage Securities Trust (a)(e)
Series 2003-CB6 Class A2
07/12/37	5.255%	306,741		306,558
Series 2003-CB7 Class A4
01/12/38	4.879%	1,852,462		1,864,945

Issuer	Coupon Rate	Principal Amount		Value
Commercial Mortgage-Backed Securities - Non-Agency (continued)
LB-UBS Commercial Mortgage Trust (e)
Series 2005-C3 Class A5
07/15/30	4.739%	$	4,395,000	$	4,612,693
Series 2007-C2 Class A3
02/15/40	5.430%	7,555,569		8,335,893
Merrill Lynch Mortgage Investors, Inc. CMO IO Series 1998-C3 Class IO (a)(e)(f)
12/15/30	0.847%	976,268		14,448
Merrill Lynch/Countrywide Commercial Mortgage Trust Series 2007-6 Class A4 (a)(e)
03/12/51	5.485%	3,875,000		4,282,363
Morgan Stanley Bank of America Merrill Lynch Trust Series 2012-C5 Class A4 (e)
08/15/45	3.176%	3,000,000		2,905,862
Morgan Stanley Capital I Trust Series 2003-T11 Class A4 (e)
06/13/41	5.150%	829,392		828,784
Morgan Stanley Capital I, Inc. (a)(e)
Series 2007-IQ15 Class A4
06/11/49	5.893%	7,500,000		8,454,637
Morgan Stanley Capital I, Inc. (e)
Series 2003-IQ6 Class A4
12/15/41	4.970%	6,118,066		6,146,943
Morgan Stanley Re-Remic Trust Series 2010-GG10 Class A4A (a)(b)(e)
08/15/45	5.799%	5,469,000		6,119,412
WF-RBS Commercial Mortgage Trust (e)
Series 2012-C6 Class A2
04/15/45	2.191%	6,818,000		6,948,639
Series 2012-C9 Class A3
11/15/45	2.870%	10,000,000		9,404,431
Series 2013-C11 Class A2
03/15/45	2.029%	1,530,000		1,531,534
Wachovia Bank Commercial Mortgage Trust Series 2004-C12 Class A3 (a)(e)
07/15/41	5.230%	142,304		142,091
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost: $119,554,667)				$	119,653,514
Asset-Backed Securities - Agency 1.3%
Agencies 1.3%
Small Business Administration Participation Certificates
Series 2013-20B Class 1
02/01/33	2.210%	3,002,000		2,873,418
Series 2013-20C Class 1
03/01/33	2.220%	4,048,000		3,870,234
Series 2013-20D Class 1
04/01/33	2.080%	4,515,000		4,269,531

Issuer	Coupon Rate	Principal Amount		Value
Asset-Backed Securities - Agency (continued)
Agencies (continued)
Series 2013-20F Class 1
06/01/33	2.450%	$	2,675,000	$	2,585,387
Total				13,598,570
Total Asset-Backed Securities - Agency (Cost: $14,275,607)				$	13,598,570
Asset-Backed Securities - Non-Agency 2.9%
Ally Master Owner Trust Series 2012-5 Class A
09/15/19	1.540%	1,120,000		1,107,301
BMW Vehicle Lease Trust Series 2013-1 Class A3
09/21/15	0.540%	2,525,000		2,517,596
BMW Vehicle Owner Trust Series 2011-A Class A3
08/25/15	0.760%	1,514,556		1,516,294
CNH Equipment Trust
Series 2010-C Class A3
05/15/15	1.170%	565,897		566,114
Series 2011-B Class A3
08/15/16	0.910%	735,871		736,941
Capital Auto Receivables Asset Trust Series 2013-1 Class A2
07/20/16	0.620%	3,200,000		3,192,858
Citigroup Mortgage Loan Trust, Inc. Series 2005-WF2 Class MF1 (a)
08/25/35	5.517%	2,389,818		102,879
Conseco Financial Corp. Series 1996-5 Class A7 (a)
07/15/27	8.250%	65,775		66,320
Equity One ABS, Inc. Series 2004-3 Class AV2 (a)
07/25/34	0.530%	356,060		268,839
Ford Credit Floorplan Master Owner Trust Series 2013-1 Class A1
01/15/18	0.850%	1,900,000		1,883,873
Honda Auto Receivables Owner Trust Series 2013-1 Class A3
11/21/16	0.480%	4,600,000		4,585,837
Mercedes-Benz Auto Lease Trust Series 2011-B Class A3 (b)
08/15/14	1.070%	2,465,374		2,467,203
Nissan Auto Lease Series 2013-A Class A3
04/15/16	0.610%	3,200,000		3,187,228
Porsche Innovative Lease Owner Trust Series 2011-1 Class A3 (b)
09/22/14	1.090%	1,031,754		1,032,355
SMART Trust
Series 2013-1US Class A3A
09/14/16	0.840%	1,738,000		1,731,251

Issuer	Coupon Rate	Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
SMART Trust (b)
Series 2012-1USA Class A4A
12/14/17	2.010%	$	1,725,000	$	1,707,825
Volkswagen Auto Lease Trust Series 2011-A Class A3
10/20/14	1.200%	2,574,482		2,578,894
World Financial Network Credit Card Master Trust Series 2013-B Class A
03/16/20	0.910%	1,940,000		1,917,659
Total Asset-Backed Securities - Non-Agency (Cost: $33,634,918)				$	31,167,267
Inflation-Indexed Bonds 0.2%
United States 0.2%
U.S. Treasury Inflation-Indexed Bond
02/15/43	0.625%	2,627,228		2,179,367
Total				2,179,367
Total Inflation-Indexed Bonds (Cost: $2,309,855)				$	2,179,367
U.S. Treasury Obligations 18.3%
U.S. Treasury
07/31/18	1.375%	3,918,000		3,914,940
02/15/43	3.125%	19,523,800		17,730,051
U.S. Treasury (d)
07/31/15	0.250%	60,860,000		60,783,925
07/31/18	1.375%	44,756,000		44,721,046
07/31/20	2.000%	12,837,000		12,821,955
U.S. Treasury (i)
STRIPS
11/15/18	0.000%	7,057,000		6,511,303
11/15/18	0.000%	2,355,000		2,171,696
11/15/19	0.000%	12,290,000		10,928,305
02/15/22	0.000%	20,350,000		16,448,193
02/15/40	0.000%	14,141,000		5,203,237
11/15/41	0.000%	5,013,000		1,699,522
U.S. Treasury (j)(k)
05/15/23	1.750%	14,483,700		13,433,632
Total U.S. Treasury Obligations (Cost: $196,268,118)				$	196,367,805
U.S. Government & Agency Obligations 4.5%
Federal National Mortgage Association
05/27/15	0.500%	500,000		501,330
Residual Funding Corp. (i)
STRIPS
07/15/20	0.000%	2,114,000		1,801,189
10/15/20	0.000%	18,760,000		15,802,205
01/15/21	0.000%	26,765,000		22,279,079

Issuer	Coupon Rate	Principal Amount		Value
U.S. Government & Agency Obligations (continued)
01/15/30	0.000%	$	14,000,000	$	7,428,946
Total U.S. Government & Agency Obligations (Cost: $41,535,052)				$	47,812,749
Foreign Government Obligations 1.4%
BRAZIL —%
Brazilian Government International Bond Senior Unsecured
01/07/41	5.625%	515,000		504,700
CANADA 0.1%
Hydro-Quebec
12/01/29	8.500%	900,000		1,320,559
CHILE —%
Chile Government International Bond Senior Unsecured
10/30/22	2.250%	430,000		382,700
COLOMBIA 0.2%
Colombia Government International Bond Senior Unsecured
01/18/41	6.125%	1,655,000		1,821,700
ITALY 0.1%
Republic of Italy Senior Unsecured
09/27/23	6.875%	760,000		861,688
MEXICO 0.5%
Mexico Government International Bond Senior Unsecured
03/15/22	3.625%	2,641,000		2,614,590
Pemex Project Funding Master Trust
03/01/18	5.750%	2,650,000		2,941,500
Total				5,556,090
POLAND 0.1%
Poland Government International Bond Senior Unsecured
03/23/22	5.000%	830,000		890,175
QATAR 0.4%
Nakilat, Inc. Senior Secured (b)
12/31/33	6.067%	2,750,000		2,956,250

Issuer	Coupon Rate	Principal Amount		Value
Foreign Government Obligations (continued)
QATAR (CONTINUED)
Ras Laffan Liquefied Natural Gas Co., Ltd. III Senior Secured (b)
09/30/16	5.832%	$	948,171	$	1,009,802
Total				3,966,052
Total Foreign Government Obligations (Cost: $14,459,585)				$	15,303,664
Issue Description	Coupon Rate	Principal Amount		Value
Municipal Bonds 2.1%
City of Chicago Waterworks
Refunding Revenue Bonds
2nd Lien
Series 2012
11/01/42	5.000%	$	635,000	$	625,354
Revenue Bonds
Build America Bonds
Series 2010
11/01/40	6.742%	865,000		1,028,148
Commonwealth of Massachusetts
Revenue Bonds
Build America Bonds-Recovery
Series 2010Z
06/01/30	5.631%	2,745,000		3,035,750
06/01/40	5.731%	2,985,000		3,451,317
JobsOhio Beverage System
Taxable Revenue Bonds
Series 2013-B
01/01/29	3.985%	1,405,000		1,311,820
Series 2013-B
01/01/35	4.532%	1,310,000		1,252,858
Kentucky Asset Liability Commission Revenue Bonds Taxable Series 2010
04/01/18	3.165%	2,462,989		2,555,253
Los Angeles Unified School District Unlimited General Obligation Bonds Build America Bonds Series 2009
07/01/34	5.750%	2,485,000		2,810,659
State of California
Unlimited General Obligation Bonds
Taxable
Series 2010
11/01/15	3.950%	835,000		890,628
Taxable Build America Bonds
Series 2009
04/01/39	7.550%	1,720,000		2,319,231
Unlimited General Obligation Taxable Bonds
Various Purpose
Series 2009-3
04/01/14	5.250%	260,000		268,120

Issue Description	Coupon Rate	Principal Amount		Value
Municipal Bonds (continued)
State of Georgia Unlimited General Obligation Refunding Bonds Series 2013C
10/01/23	4.000%	$	715,000	$	784,526
State of Illinois Unlimited General Obligation Bonds Series 2011
03/01/16	4.961%	2,080,000		2,213,515
Total Municipal Bonds (Cost: $20,667,869)				$	22,547,179
Issuer	Coupon Rate	Principal Amount		Value
Preferred Debt 1.6%
Banking 1.4%
Citigroup Capital XIII (a)
10/30/40	7.875%	$	125,190	$	3,442,725
PNC Financial Services Group, Inc. (The) (a)
12/31/49	6.125%	207,050		5,435,062
U.S. Bancorp (a)
12/31/49	6.500%	153,575		4,137,311
Wells Fargo & Co. (a)
12/31/49	5.850%	55,000		1,349,150
Total				14,364,248
Property & Casualty 0.2%
Allstate Corp. (The) (a)
01/15/53	5.100%	100,000		2,512,000
Total Preferred Debt (Cost: $16,516,772)				$	16,876,248
Issuer		Shares		Value
Common Stocks —%
CONSUMER STAPLES —%
Beverages —%
Crimson Wine Group Ltd. (l)		3		$	27
FINANCIALS —%
Diversified Financial Services —%
Leucadia National Corp.		39		1,046
TOTAL FINANCIALS				1,046
Total Common Stocks (Cost: $—)				$	1,073

Issuer	Effective Yield	Principal Amount		Value
Treasury Bills 9.1%
U.S. Treasury Bills
09/19/13	0.010%	$	97,658,373	$	97,662,999
Total Treasury Bills (Cost: $97,658,373)				$	97,662,999

	Shares	Value
Money Market Funds 2.1%
Columbia Short-Term Cash Fund, 0.191% (m)(n)	22,223,123	$	22,223,123
Total Money Market Funds (Cost: $22,223,123)		$	22,223,123
Total Investments
(Cost: $1,162,068,146) (o)		$	1,180,168,534(p)
Other Assets & Liabilities, Net		(108,838,272)
Net Assets		$	1,071,330,262

Investments in Derivatives

Futures Contracts Outstanding at July 31, 2013

	Number of Contracts		Notional Market		Expiration	Unrealized	Unrealized
Contract Description	Long (Short)		Value ($)		Date	Appreciation ($)	Depreciation ($)
U.S. Treasury Long Bond, 20-year	(427	)	(57,244,688	)	September 2013	2,059,526	—
U.S. Treasury Note, 2-year	105		23,132,813		October 2013	12,943	—
U.S. Treasury Note, 5-year	(221	)	(26,822,149	)	October 2013	180,433	—
U.S. Treasury Note, 10-year	(388	)	(49,057,750	)	September 2013	1,066,526	—
U.S. Treasury Ultra Bond, 30-year	(152	)	(21,926,000	)	September 2013	969,471	—
Total						4,288,899	—

Credit Default Swap Contracts Outstanding at July 31, 2013

Buy Protection

Counterparty	Reference Entity	Expiration Date	Pay Fixed Rate (%)	Notional Amount ($)	Market Value ($)		Unamortized Premium (Paid) Received ($)		Periodic Payments Receivable (Payable) ($)		Unrealized Appreciation ($)	Unrealized Depreciation ($)
Goldman Sachs International	Bank of America Corp.	June 20, 2018	1.00	5,000,000	33,651		(55,397	)	(5,833	)	—	(27,579	)
Morgan Stanley	Barclays Bank, PLC	June 20, 2018	1.00	2,995,000	21,453		(82,913	)	(3,494	)	—	(64,954	)
Citibank	CDX North America Investment Grade 20	June 20, 2018	1.00	11,650,000	(130,799	)	91,756		(13,592	)	—	(52,635	)
JPMorgan	CDX North America Investment Grade 20	June 20, 2018	1.00	44,155,000	(495,745	)	360,775		(51,515	)	—	(186,485	)
Citibank	Nucor Corp.	September 20, 2018	1.00	2,270,000	(22,663	)	16,665		(2,648	)	—	(8,646	)
Goldman Sachs International	Nucor Corp.	September 20, 2018	1.00	900,000	(8,985	)	7,932		(1,051	)	—	(2,104	)
Barclays	Telecom Italia SPA	September 20, 2018	1.00	1,060,000	121,444		(106,903	)	(1,236	)	13,305	—
Total											13,305	(342,403	)

Notes to Portfolio of Investments

(a)	Variable rate security.
(b)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2013, the value of these securities amounted to $38,718,856 or 3.61% of net assets.
(c)	Represents comparable securities held to satisfy future delivery requirements of the following open forward sale commitments at July 31, 2013:

Security	Principal	Settlement	Proceeds
Description	Amount ($)	Date	Receivable ($)	Value ($)
Federal National Mortgage Association	12,000,000	08/12/13	12,280,313	12,470,626
08/01/43 4.000%

(d)	Represents a security purchased on a when-issued or delayed delivery basis.
(e)	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.

(f)Interest Only (IO) security. The actual effective yield of this security is different than the stated coupon rate.

(g)Identifies issues considered to be illiquid as to their marketability. The aggregate value of such securities at July 31, 2013 was $3,652, representing 0.00% of net assets.  Information concerning such security holdings at July 31, 2013 is as follows:

Security Description	Acquisition Dates	Cost ($)
American Mortgage Trust
Series 2093-3 Class 3A
8.188% 07/27/23	10-22-10 - 10-12-11	3,825

(h)Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At July 31, 2013, the value of these securities amounted to $3,652, which represents 0.00% of net assets.

(i)Zero coupon bond.

(j)At July 31, 2013, investments in securities included securities valued at $2,527,438 that were partially pledged as collateral to cover initial margin deposits on open interest rate futures contracts.

(k)At July 31, 2013, investments in securities included securities valued at $489,451 that were fully or partially pledged as collateral on outstanding swap contracts.

(l)Non-income producing.

(m)The rate shown is the seven-day current annualized yield at July 31, 2013.

(n)As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of its outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended July 31, 2013, are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds from Sales ($)	Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	5,431,696	161,611,402	(144,819,975)	22,223,123	7,810	22,223,123

(o)At July 31, 2013, the cost of securities for federal income tax purposes was approximately $1,162,068,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	33,944,000
Unrealized Depreciation	(15,843,000		)
Net Unrealized Appreciation	$	18,101,000

(p)Investments are valued using policies described in the notes to financial statements in the most recent shareholder report.

Abbreviation Legend

CMOCollateralized Mortgage Obligation

STRIPSSeparate Trading of Registered Interest and Principal Securities

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 (including 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 Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

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

Under the direction of the Fund’s Board of Trustees (the Board), the Investment Manager’s Valuation Committee (the Committee) is responsible for carrying out the valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation control policies and procedures (the Policies).  The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third-party pricing vendors, including periodic reviews of vendors.  The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions.  The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

For investments categorized as Level 3, the Committee monitors information similar to that described above, which may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions.  The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value.  This data is also used to corroborate, when available, information received from approved pricing vendors and brokers.  Various factors impact the frequency of monitoring this information (which may occur as often as daily). However, the Committee may determine that changes to inputs, assumptions and models are not required as a result of the monitoring procedures performed.

The following table is a summary of the inputs used to value the Fund’s investments at July 31, 2013:

Description	Level 1	Level 2		Level 3
	Quoted Prices in	Other Significant		Significant
	Active Markets for	Observable		Unobservable
	Identical Assets ($)	Inputs ($)		Inputs ($)	Total ($)
Bonds
Corporate Bonds & Notes	—	262,969,503		—	262,969,503
Residential Mortgage-Backed Securities - Agency	—	327,011,875		—	327,011,875
Residential Mortgage-Backed Securities - Non-Agency	—	4,095,708		3,652	4,099,360
Commercial Mortgage-Backed Securities - Agency	—	694,238		—	694,238
Commercial Mortgage-Backed Securities - Non-Agency	—	116,807,488		2,846,026	119,653,514
Asset-Backed Securities - Agency	—	13,598,570		—	13,598,570
Asset-Backed Securities - Non-Agency	—	31,167,267		—	31,167,267
Inflation-Indexed Bonds	—	2,179,367		—	2,179,367
U.S. Treasury Obligations	153,405,548	42,962,257		—	196,367,805
U.S. Government & Agency Obligations	—	47,812,749		—	47,812,749
Foreign Government Obligations	—	15,303,664		—	15,303,664
Municipal Bonds	—	22,547,179		—	22,547,179
Preferred Debt	16,876,248	—		—	16,876,248
Total Bonds	170,281,796	887,149,865		2,849,678	1,060,281,339
Equity Securities
Common Stocks
Consumer Staples	27	—		—	27
Financials	1,046	—		—	1,046
Total Equity Securities	1,073	—		—	1,073
Short-Term Securities
Treasury Bills	97,662,999	—		—	97,662,999
Total Short-Term Securities	97,662,999	—		—	97,662,999
Mutual Funds
Money Market Funds	22,223,123	—		—	22,223,123
Total Mutual Funds	22,223,123	—		—	22,223,123
Investments in Securities	290,168,991	887,149,865		2,849,678	1,180,168,534
Forward Sale Commitments Liability	—	(12,470,626	)	—	(12,470,626	)
Derivatives
Assets
Futures Contracts	4,288,899	—		—	4,288,899
Swap Contracts	—	13,305		—	13,305
Liabilities
Swap Contracts	—	(342,403	)	—	(342,403	)
Total	294,457,890	874,350,141		2,849,678	1,171,657,709

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

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

There were no transfers of financial assets between Levels 1 and 2 during the period.

Derivative instruments are valued at unrealized appreciation (depreciation).

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

	Residential Mortgage-Backed Securities - Non-Agency ($)		Commercial Mortgage-Backed Securities - Non-Agency ($)		Total ($)
Balance as of April 30, 2013	3,743		2,385,226		2,388,969
Accrued discounts/premiums	78		(432	)	(354	)
Realized gain (loss)	(19	)	(1,642	)	(1,661	)
Change in unrealized appreciation (depreciation)(a)	—		—		—
Sales	(150	)	(158,164	)	(158,314	)
Purchases	—		621,038		621,038
Transfers into Level 3	—		—		—
Transfers out of Level 3	—		—		—
Balance as of July 31, 2013	3,652		2,846,026		2,849,678

The Fund does not hold any significant investments with unobservable inputs which are categorized as Level 3.

The Fund’s assets assigned to the Level 3 category are valued utilizing the valuation technique deemed the most appropriate in the circumstances.

Certain commercial mortgage backed securities classified as Level 3 are valued using the market approach and utilize single market quotations from broker dealers which may have included, but not limited to, the distressed nature of the security and observable transactions for similar assets in the market. Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.

Certain residential mortgage backed securities classified as Level 3 securities are valued using the market approach.  To determine fair value for these securities, management considered various factors which may have included, but were not limited to, estimated cash flows of the securities, discount rates observed in the market for similar assets as well as observed yields on securities management deemed comparable.  Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.  Generally, a change in observable yields on comparable securities would result in a directionally similar change to discount rates.

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 Corporate Income Fund

July 31, 2013 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes 90.4%
Aerospace & Defense 2.6%
ADS Tactical, Inc. Senior Secured (a)
04/01/18	11.000%	$	446,000	$	423,700
Bombardier, Inc. (a)
Senior Notes
01/15/23	6.125%	421,000		426,262
Senior Unsecured
05/01/14	6.300%	105,000		107,888
Kratos Defense & Security Solutions, Inc. Senior Secured
06/01/17	10.000%	1,002,000		1,082,160
L-3 Communications Corp.
02/15/21	4.950%	14,200,000		15,028,286
Northrop Grumman Corp.
Senior Unsecured
03/15/21	3.500%	11,374,000		11,507,906
08/01/23	3.250%	7,425,000		7,139,353
Oshkosh Corp.
03/01/17	8.250%	149,000		159,802
TransDigm, Inc. (a)
10/15/20	5.500%	236,000		230,690
Senior Subordinated Notes
07/15/21	7.500%	1,213,000		1,285,780
Total				37,391,827
Airlines —%
Continental Airlines Pass-Through Trust Series 1997-1 Class A
04/01/15	7.461%	294,563		302,663
Automotive 0.3%
Allison Transmission, Inc. (a)
05/15/19	7.125%	330,000		349,800
American Axle & Manufacturing, Inc.
03/15/21	6.250%	376,000		395,270
Chrysler Group LLC/Co-Issuer, Inc.
Secured
06/15/19	8.000%	317,000		345,926
06/15/21	8.250%	235,000		261,438
Dana Holding Corp.
Senior Unsecured
02/15/19	6.500%	65,000		69,388
02/15/21	6.750%	316,000		336,540
General Motors Financial Co., Inc. (a)
Senior Unsecured
05/15/18	3.250%	101,000		98,728
05/15/23	4.250%	144,000		138,240
Jaguar Land Rover Automotive PLC (a)
02/01/23	5.625%	254,000		248,920
Schaeffler Holding Finance BV Senior Secured PIK (a)
08/15/18	6.875%	590,000		605,008

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Automotive (continued)
Visteon Corp.
04/15/19	6.750%	$	851,000	$	908,442
Total				3,757,700
Banking 6.0%
Ally Financial, Inc.
02/15/17	5.500%	633,000		669,223
03/15/20	8.000%	1,848,000		2,176,020
Bank of America Corp. Senior Unsecured
07/24/23	4.100%	12,650,000		12,656,717
Citigroup, Inc. Senior Unsecured
03/01/23	3.375%	13,000,000		12,405,393
Goldman Sachs Group, Inc. (The)
Senior Unsecured
07/19/18	2.900%	6,435,000		6,439,395
01/22/23	3.625%	19,065,000		18,211,187
HSBC Holdings PLC Senior Unsecured
03/30/22	4.000%	4,580,000		4,676,240
JPMorgan Chase & Co. Senior Unsecured
01/25/23	3.200%	14,840,000		14,042,617
Morgan Stanley Senior Unsecured
02/25/23	3.750%	13,460,000		12,942,584
Synovus Financial Corp. Senior Unsecured
02/15/19	7.875%	912,000		1,044,240
Washington Mutual Bank Subordinated Notes (b)(c)(d)
01/15/15	5.125%	6,350,000		9,525
Total				85,273,141
Brokerage 0.1%
E*TRADE Financial Corp. Senior Unsecured
11/15/19	6.375%	466,000		495,125
Nuveen Investments, Inc. (a)
Senior Unsecured
10/15/17	9.125%	156,000		157,950
10/15/20	9.500%	346,000		350,325
Total				1,003,400
Building Materials 0.3%
American Builders & Contractors Supply Co., Inc. Senior Unsecured (a)
04/15/21	5.625%	627,000		625,432
Gibraltar Industries, Inc. (a)
02/01/21	6.250%	181,000		185,525

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Building Materials (continued)
HD Supply, Inc.
01/15/21	10.500%	$	280,000	$	288,400
Secured
04/15/20	11.000%	315,000		378,788
HD Supply, Inc. (a)
Senior Unsecured
07/15/20	7.500%	1,170,000		1,240,200
Nortek, Inc.
12/01/18	10.000%	45,000		49,163
04/15/21	8.500%	747,000		808,627
Total				3,576,135
Chemicals 1.9%
Ashland, Inc. (a)
08/15/22	4.750%	457,000		451,287
Celanese U.S. Holdings LLC
06/15/21	5.875%	578,000		606,900
11/15/22	4.625%	213,000		206,078
Chemtura Corp.
07/15/21	5.750%	93,000		92,535
Dow Chemical Co. (The) Senior Unsecured
11/15/22	3.000%	12,920,000		12,124,231
Huntsman International LLC
11/15/20	4.875%	264,000		261,360
03/15/21	8.625%	73,000		82,308
JM Huber Corp. Senior Notes (a)
11/01/19	9.875%	520,000		586,300
LYB International Finance BV
07/15/23	4.000%	945,000		937,840
LyondellBasell Industries NV Senior Unsecured
04/15/19	5.000%	6,455,000		7,146,834
Momentive Performance Materials, Inc.
Senior Secured
10/15/20	8.875%	586,000		625,555
10/15/20	10.000%	109,000		116,630
NOVA Chemicals Corp. Senior Unsecured (a)
08/01/23	5.250%	379,000		379,000
PQ Corp. Secured (a)
05/01/18	8.750%	2,301,000		2,444,812
U.S. Coatings Acquisition, Inc./Axalta Coating Systems Dutch Holding B BV (a)
05/01/21	7.375%	410,000		425,375
Total				26,487,045
Construction Machinery 0.6%
CNH Capital LLC
11/01/16	6.250%	731,000		798,618
CNH Capital LLC (a)
04/15/18	3.625%	4,120,000		4,037,600

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Construction Machinery (continued)
Case New Holland, Inc.
12/01/17	7.875%	$	985,000	$	1,154,912
Columbus McKinnon Corp.
02/01/19	7.875%	559,000		595,335
H&E Equipment Services, Inc.
09/01/22	7.000%	88,000		94,160
Neff Rental LLC/Finance Corp. Secured (a)
05/15/16	9.625%	408,000		430,440
United Rentals North America, Inc.
05/15/20	7.375%	867,000		955,867
04/15/22	7.625%	175,000		195,125
Secured
07/15/18	5.750%	109,000		116,630
Senior Unsecured
02/01/21	8.250%	120,000		134,100
Total				8,512,787
Consumer Cyclical Services 0.2%
Corrections Corp. of America
05/01/23	4.625%	317,000		309,075
GNET Escrow Corp. Senior Secured (a)
07/01/18	12.125%	209,000		223,630
Goodman Networks, Inc. Senior Secured (a)
07/01/18	13.125%	125,000		133,750
Monitronics Escrow Corp. Senior Unsecured (a)
04/01/20	9.125%	177,000		183,638
Monitronics International, Inc.
04/01/20	9.125%	340,000		353,600
Service Corp., International Senior Unsecured (a)
01/15/22	5.375%	177,000		178,106
Vivint, Inc. (a)
Senior Secured
12/01/19	6.375%	1,409,000		1,373,775
Senior Unsecured
12/01/20	8.750%	607,000		607,000
Total				3,362,574
Consumer Products 0.6%
Clorox Co. (The) Senior Unsecured
09/15/22	3.050%	5,185,000		4,952,069
First Quality Finance Co., Inc. Senior Unsecured (a)
05/15/21	4.625%	435,000		414,338

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Consumer Products (continued)
Libbey Glass, Inc. Senior Secured
05/15/20	6.875%	$	225,000	$	240,750
SIWF Merger Sub, Inc. Senior Secured (a)
06/01/21	6.250%	475,000		475,000
Serta Simmons Holdings LLC Senior Unsecured (a)
10/01/20	8.125%	609,000		644,017
Spectrum Brands Escrow Corp. (a)
11/15/20	6.375%	1,380,000		1,466,250
Tempur Sealy International, Inc. (a)
12/15/20	6.875%	497,000		526,820
Total				8,719,244
Diversified Manufacturing 0.6%
Amsted Industries, Inc. Senior Notes (a)
03/15/18	8.125%	375,000		398,437
Apex Tool Group LLC (a)
02/01/21	7.000%	177,000		184,080
General Electric Co. Senior Unsecured
10/09/42	4.125%	6,760,000		6,303,457
Renaissance Acquisition Corp. Senior Unsecured (a)
08/15/21	6.875%	567,000		564,165
Silver II Borrower/US Holdings LLC (a)
12/15/20	7.750%	570,000		597,075
Total				8,047,214
Electric 14.4%
Appalachian Power Co. Senior Unsecured
03/30/21	4.600%	8,345,000		8,989,209
Arizona Public Service Co. Senior Unsecured
04/01/42	4.500%	8,115,000		7,780,492
CMS Energy Corp.
Senior Unsecured
09/30/15	4.250%	995,000		1,057,476
12/15/15	6.875%	10,205,000		11,432,253
02/01/20	6.250%	2,205,000		2,573,293
03/15/22	5.050%	845,000		920,413
03/31/43	4.700%	4,865,000		4,551,295
Calpine Corp. Senior Secured (a)
02/15/21	7.500%	482,000		519,355
DTE Electric Co. General Refunding Mortgage
04/01/43	4.000%	3,920,000		3,664,647

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Electric (continued)
DTE Energy Co. Senior Unsecured
06/01/16	6.350%	$	14,800,000	$	16,874,990
Dominion Resources, Inc. Senior Unsecured
09/15/42	4.050%	1,975,000		1,765,273
Duke Energy Corp. Senior Unsecured
09/15/21	3.550%	21,320,000		21,554,627
Duke Energy Progress, Inc. 1st Mortgage
05/15/42	4.100%	400,000		374,005
FirstEnergy Corp. Senior Unsecured
03/15/23	4.250%	6,360,000		5,806,406
GenOn Energy, Inc. Senior Unsecured
10/15/18	9.500%	829,000		949,205
Indiana Michigan Power Co.
Senior Unsecured
12/01/15	5.650%	1,500,000		1,630,407
03/15/23	3.200%	13,250,000		12,662,720
Ipalco Enterprises, Inc. Senior Secured (a)
04/01/16	7.250%	330,000		363,412
Metropolitan Edison Co. Senior Unsecured (a)
03/15/23	3.500%	16,445,000		15,802,270
Oncor Electric Delivery Co. LLC Senior Secured
09/30/17	5.000%	4,000,000		4,465,452
PPL Capital Funding, Inc.
06/01/23	3.400%	18,430,000		17,591,269
PacifiCorp 1st Mortgage
06/01/23	2.950%	8,525,000		8,253,010
Progress Energy, Inc.
Senior Unsecured
12/01/19	4.875%	955,000		1,066,637
04/01/22	3.150%	16,250,000		15,776,686
Public Service Co. of Colorado
1st Mortgage
03/15/43	3.950%	535,000		500,827
1st Refunding Mortgage
09/15/42	3.600%	4,585,000		4,030,632
Southern California Edison Co.
1st Refunding Mortgage
06/01/21	3.875%	7,644,000		8,187,844
03/15/43	3.900%	1,725,000		1,600,491
TransAlta Corp. Senior Unsecured
01/15/15	4.750%	12,415,000		12,968,240

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Electric (continued)
Xcel Energy, Inc.
Senior Unsecured
05/09/16	0.750%	$	4,300,000	$	4,264,323
05/15/20	4.700%	7,145,000		7,934,044
Total				205,911,203
Entertainment 0.6%
AMC Entertainment, Inc.
12/01/20	9.750%	51,000		58,140
Cinemark USA, Inc.
12/15/22	5.125%	264,000		254,430
Six Flags, Inc. (a)(b)(c)(e)
06/01/14	0.000%	259,000		—
Time Warner, Inc.
03/29/41	6.250%	7,695,000		8,682,292
Total				8,994,862
Environmental 1.3%
Clean Harbors, Inc.
06/01/21	5.125%	436,000		444,720
Waste Management, Inc.
06/30/20	4.750%	13,785,000		14,971,103
09/15/22	2.900%	3,615,000		3,373,417
Total				18,789,240
Food and Beverage 8.6%
Anheuser-Busch InBev Finance, Inc.
01/17/23	2.625%	12,725,000		12,009,295
B&G Foods, Inc.
06/01/21	4.625%	680,000		657,050
Beam, Inc. Senior Unsecured
05/15/22	3.250%	15,230,000		14,928,842
ConAgra Foods, Inc.
Senior Unsecured
06/15/17	5.819%	4,925,000		5,573,110
09/15/22	3.250%	12,395,000		11,972,851
Constellation Brands Inc.
Senior Unsecured
05/01/21	3.750%	214,000		200,090
05/01/23	4.250%	467,000		440,148
Cott Beverages, Inc.
11/15/17	8.375%	105,000		110,381
09/01/18	8.125%	337,000		363,960
Diageo Capital PLC
04/29/23	2.625%	5,710,000		5,321,692
HJ Heinz Co. Secured (a)
10/15/20	4.250%	510,000		489,600
Heineken NV Senior Unsecured (a)
04/01/22	3.400%	19,025,000		18,725,071

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Food and Beverage (continued)
Molson Coors Brewing Co.
05/01/22	3.500%	$	15,113,000	$	14,951,563
Mondelez International, Inc. Senior Unsecured
02/10/20	5.375%	3,875,000		4,368,632
PepsiCo, Inc. Senior Unsecured
03/01/23	2.750%	9,010,000		8,483,005
SABMiller Holdings, Inc. (a)
01/15/22	3.750%	23,305,000		23,738,869
Shearer’s Foods, Inc. LLC Senior Secured (a)
11/01/19	9.000%	415,000		443,531
Total				122,777,690
Gaming 0.5%
Boyd Gaming Corp.
07/01/20	9.000%	72,000		76,860
Caesars Entertainment Operating Co., Inc. Senior Secured
02/15/20	8.500%	348,000		324,075
Caesars Operating Escrow LLC /Corp. Senior Secured (a)
02/15/20	9.000%	291,000		274,268
MGM Resorts International
03/01/18	11.375%	233,000		294,745
10/01/20	6.750%	616,000		655,270
12/15/21	6.625%	385,000		406,175
PNK Finance Corp. Senior Unsecured (a)(f)
08/01/21	6.375%	666,000		670,995
Pinnacle Entertainment, Inc.
04/01/22	7.750%	16,000		16,760
ROC Finance LLC/Corp. Secured (a)
09/01/18	12.125%	711,000		810,540
Seminole Indian Tribe of Florida (a)
Senior Secured
10/01/20	6.535%	251,000		269,825
Senior Unsecured
10/01/20	7.804%	430,000		460,035
Seneca Gaming Corp. (a)
12/01/18	8.250%	633,000		677,310
Studio City Finance Ltd. (a)
12/01/20	8.500%	1,257,000		1,326,135
SugarHouse HSP Gaming LP/Finance Corp. Senior Secured (a)
06/01/21	6.375%	441,000		420,604

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Gaming (continued)
Tunica-Biloxi Gaming Authority Senior Unsecured (a)
11/15/15	9.000%	$	203,000	$	183,715
Total				6,867,312
Gas Pipelines 9.6%
Access Midstream Partners LP/Finance Corp.
05/15/23	4.875%	752,000		714,400
CenterPoint Energy Resources Corp. Senior Unsecured
11/01/17	6.125%	7,966,000		9,315,600
El Paso LLC Senior Secured
09/15/20	6.500%	1,139,000		1,221,582
Enterprise Products Operating LLC
03/15/44	4.850%	5,695,000		5,531,269
Hiland Partners LP/Finance Corp. (a)
10/01/20	7.250%	1,063,000		1,116,150
Kinder Morgan Energy Partners LP
Senior Unsecured
09/01/22	3.950%	10,032,000		9,998,975
02/15/23	3.450%	10,170,000		9,673,480
MarkWest Energy Partners LP/Finance Corp.
06/15/22	6.250%	496,000		528,240
02/15/23	5.500%	753,000		760,530
07/15/23	4.500%	196,000		184,240
Midcontinent Express Pipeline LLC Senior Unsecured (a)
09/15/14	5.450%	9,295,000		9,577,940
NiSource Finance Corp.
09/15/20	5.450%	15,083,000		16,776,021
02/15/23	3.850%	1,453,000		1,425,326
Northwest Pipeline LLC
Senior Unsecured
04/15/17	5.950%	8,479,000		9,664,128
06/15/18	6.050%	1,985,000		2,316,364
Plains All American Pipeline LP/Finance Corp. Senior Unsecured
06/01/22	3.650%	7,973,000		7,976,707
Regency Energy Partners LP/Finance Corp.
07/15/21	6.500%	812,000		872,900
04/15/23	5.500%	787,000		794,870
Regency Energy Partners LP/Finance Corp. (a)
11/01/23	4.500%	320,000		300,800
Rockies Express Pipeline LLC Senior Unsecured (a)
04/15/15	3.900%	12,795,000		12,826,987
Sabine Pass Liquefaction LLC (a)
Senior Secured
02/01/21	5.625%	657,000		647,966
04/15/23	5.625%	537,000		523,575

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Gas Pipelines (continued)
Southern Natural Gas Co. LLC Senior Unsecured (a)
04/01/17	5.900%	$	16,345,000	$	18,617,266
Southern Star Central Corp.
Senior Unsecured
03/01/16	6.750%	65,000		65,731
Southern Star Central Corp. (a)
Senior Unsecured
03/01/16	6.750%	375,000		377,813
Transcontinental Gas Pipe Line Co. LLC
Senior Unsecured
04/15/16	6.400%	13,538,000		15,342,399
08/01/42	4.450%	263,000		238,932
Total				137,390,191
Health Care 3.4%
Amsurg Corp.
11/30/20	5.625%	276,000		281,520
Biomet, Inc.
08/01/20	6.500%	334,000		350,700
CHS/Community Health Systems, Inc. Senior Secured
08/15/18	5.125%	825,000		841,500
Cardinal Health, Inc. Senior Unsecured
12/15/20	4.625%	8,695,000		9,299,390
CareFusion Corp. Senior Unsecured (a)
03/01/23	3.300%	5,015,000		4,706,240
ConvaTec Healthcare E SA Senior Unsecured (a)
12/15/18	10.500%	882,000		992,250
DaVita HealthCare Partners, Inc.
08/15/22	5.750%	795,000		805,931
Emdeon, Inc.
12/31/19	11.000%	392,000		447,860
Express Scripts Holding Co.
05/15/16	3.125%	6,000,000		6,268,290
Fresenius Medical Care U.S. Finance II, Inc. (a)
07/31/19	5.625%	192,000		203,280
01/31/22	5.875%	363,000		382,965
Fresenius Medical Care U.S. Finance, Inc. (a)
09/15/18	6.500%	716,000		789,390
HCA Holdings, Inc. Senior Unsecured
02/15/21	6.250%	1,096,000		1,137,100
HCA, Inc.
02/15/22	7.500%	470,000		529,925
05/01/23	5.875%	143,000		144,430
Senior Secured
02/15/20	6.500%	1,171,000		1,289,564
05/01/23	4.750%	37,000		35,705

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Health Care (continued)
Hospira, Inc.
Senior Unsecured
05/15/15	6.400%	$	8,065,000	$	8,578,981
03/30/17	6.050%	6,232,000		6,663,709
IASIS Healthcare LLC/Capital Corp.
05/15/19	8.375%	322,000		338,100
IMS Health, Inc. Senior Unsecured (a)
11/01/20	6.000%	352,000		363,440
Kinetic Concepts, Inc./KCI U.S.A., Inc. Secured
11/01/18	10.500%	263,000		288,643
MPH Intermediate Holding Co. 2 Senior Unsecured (a)
08/01/18	8.375%	301,000		307,396
Physio-Control International, Inc. Senior Secured (a)
01/15/19	9.875%	227,000		251,970
Radnet Management, Inc.
04/01/18	10.375%	220,000		234,025
STHI Holding Corp. Secured (a)
03/15/18	8.000%	243,000		262,440
Tenet Healthcare Corp. Senior Secured
06/01/20	4.750%	638,000		615,670
Truven Health Analytics, Inc. (a)(f)
06/01/20	10.625%	334,000		369,905
United Surgical Partners International, Inc.
04/01/20	9.000%	362,000		400,915
Universal Hospital Services, Inc. Secured
08/15/20	7.625%	262,000		277,065
Vanguard Health Holding Co. II LLC/Inc.
02/01/19	7.750%	683,000		733,371
Total				48,191,670
Healthcare Insurance 0.6%
WellPoint, Inc. Senior Unsecured
08/15/20	4.350%	8,404,000		8,989,698
Home Construction 0.2%
Ashton Woods U.S.A. LLC/Finance Co. (a)
02/15/21	6.875%	159,000		160,590
Beazer Homes USA, Inc.
05/15/19	9.125%	249,000		265,185
Beazer Homes USA, Inc. (a)
02/01/23	7.250%	238,000		245,140

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Home Construction (continued)
Brookfield Residential Properties, Inc. /U.S. Corp. (a)
07/01/22	6.125%	$	147,000	$	150,308
KB Home
03/15/20	8.000%	248,000		276,520
09/15/22	7.500%	219,000		235,425
Meritage Homes Corp.
03/01/18	4.500%	360,000		360,000
04/01/22	7.000%	305,000		332,450
Shea Homes LP/Funding Corp. Senior Secured
05/15/19	8.625%	438,000		481,800
Taylor Morrison Communities, Inc./Monarch, Inc. (a)
04/15/20	7.750%	132,000		144,540
04/15/20	7.750%	383,000		419,385
Woodside Homes Co., LLC / Finance, Inc. Senior Unsecured (a)(f)
12/15/21	6.750%	192,000		193,920
Total				3,265,263
Independent Energy 4.6%
Anadarko Petroleum Corp. Senior Unsecured
09/15/16	5.950%	3,935,000		4,449,123
Antero Resources Finance Corp.
08/01/19	7.250%	151,000		159,305
Athlon Holdings LP/Finance Corp. (a)
04/15/21	7.375%	689,000		699,335
Aurora USA Oil & Gas, Inc. Senior Unsecured (a)
04/01/20	7.500%	1,079,000		1,068,210
Canadian Oil Sands Ltd. Senior Unsecured (a)
04/01/42	6.000%	2,270,000		2,417,266
Carrizo Oil & Gas, Inc.
10/15/18	8.625%	434,000		474,145
Chesapeake Energy Corp.
08/15/20	6.625%	1,183,000		1,283,555
02/15/21	6.125%	539,000		571,340
03/15/23	5.750%	794,000		799,955
Comstock Resources, Inc.
06/15/20	9.500%	786,000		860,670
Concho Resources, Inc.
01/15/21	7.000%	1,594,000		1,753,400
01/15/22	6.500%	174,000		186,180
04/01/23	5.500%	88,000		87,780
Continental Resources, Inc.
10/01/19	8.250%	240,000		262,800
10/01/20	7.375%	382,000		424,020
04/01/21	7.125%	457,000		506,699
09/15/22	5.000%	4,321,000		4,342,605
04/15/23	4.500%	370,000		359,825

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Independent Energy (continued)
EP Energy Holdings LLC/Bond Co., Inc. Senior Unsecured PIK (a)
12/15/17	8.125%	$	389,000	$	398,725
EP Energy LLC/Finance, Inc. Senior Unsecured
05/01/20	9.375%	531,000		605,340
Halcon Resources Corp.
05/15/21	8.875%	630,000		636,300
Hess Corp. Senior Unsecured
02/15/41	5.600%	4,170,000		4,340,285
Kodiak Oil & Gas Corp.
12/01/19	8.125%	1,628,000		1,786,730
Kodiak Oil & Gas Corp. (a)
01/15/21	5.500%	689,000		694,168
02/01/22	5.500%	226,000		225,435
Laredo Petroleum, Inc.
02/15/19	9.500%	396,000		439,560
05/01/22	7.375%	352,000		371,360
Marathon Oil Corp. Senior Unsecured
11/01/22	2.800%	4,510,000		4,240,884
Noble Energy, Inc. Senior Unsecured
12/15/21	4.150%	4,220,000		4,375,861
Oasis Petroleum, Inc.
11/01/21	6.500%	834,000		884,040
01/15/23	6.875%	860,000		909,450
Pioneer Natural Resources Co. Senior Unsecured
07/15/22	3.950%	4,170,000		4,134,784
QEP Resources, Inc.
Senior Unsecured
10/01/22	5.375%	307,000		305,465
05/01/23	5.250%	560,000		551,600
Range Resources Corp.
06/01/21	5.750%	705,000		745,538
08/15/22	5.000%	128,000		129,280
SM Energy Co.
Senior Unsecured
11/15/21	6.500%	294,000		311,640
01/01/23	6.500%	286,000		303,160
SM Energy Co. (a)
Senior Unsecured
01/15/24	5.000%	364,000		354,900
Whiting Petroleum Corp.
10/01/18	6.500%	35,000		37,100
Woodside Finance Ltd. (a)
11/15/13	5.000%	13,555,000		13,705,664
05/10/21	4.600%	4,295,000		4,540,704
Total				65,734,186

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Life Insurance 3.3%
Hartford Financial Services Group, Inc. Senior Unsecured
04/15/22	5.125%	$	12,640,000	$	13,925,260
MetLife, Inc. Senior Unsecured
12/15/22	3.048%	11,270,000		10,879,472
Metropolitan Life Global Funding I Secured (a)
06/22/18	1.875%	5,495,000		5,422,207
Prudential Covered Trust Secured (a)
09/30/15	2.997%	2,673,000		2,764,403
Prudential Financial, Inc.
Senior Unsecured
11/16/21	4.500%	9,065,000		9,729,361
05/12/41	5.625%	3,590,000		3,938,998
Total				46,659,701
Lodging —%
Choice Hotels International, Inc.
07/01/22	5.750%	355,000		372,750
Media Cable 2.1%
CCO Holdings LLC/Capital Corp.
01/15/19	7.000%	162,000		171,720
CCO Holdings LLC/Capital Corp. (a)
03/15/21	5.250%	479,000		463,433
CSC Holdings LLC Senior Unsecured
02/15/19	8.625%	425,000		497,250
CSC Holdings, Inc. Senior Unsecured
11/15/21	6.750%	176,000		193,160
Cablevision Systems Corp.
Senior Unsecured
04/15/20	8.000%	290,000		327,700
09/15/22	5.875%	111,000		110,445
Cequel Communications Holdings I LLC/Capital Corp. Senior Unsecured (a)
09/15/20	6.375%	595,000		614,337
DIRECTV Holdings LLC/Financing Co., Inc.
03/15/22	3.800%	7,950,000		7,642,168
08/15/40	6.000%	2,000,000		1,974,974
03/15/42	5.150%	4,020,000		3,628,633
DISH DBS Corp.
09/01/19	7.875%	840,000		955,500
06/01/21	6.750%	366,000		387,960
07/15/22	5.875%	522,000		520,695
03/15/23	5.000%	96,000		90,000
Quebecor Media, Inc.
Senior Unsecured
03/15/16	7.750%	344,000		349,590
01/15/23	5.750%	359,000		350,923

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Media Cable (continued)
Time Warner Cable, Inc.
09/15/42	4.500%	$	15,060,000	$	11,619,829
Videotron Ltd.
07/15/22	5.000%	286,000		283,140
WaveDivision Escrow LLC/Corp. Senior Unsecured (a)
09/01/20	8.125%	19,000		19,950
Total				30,201,407
Media Non-Cable 5.8%
AMC Networks, Inc.
12/15/22	4.750%	935,000		906,950
BSKYB Finance UK PLC (a)
10/15/15	5.625%	2,050,000		2,247,780
British Sky Broadcasting Group PLC (a)
11/26/22	3.125%	12,460,000		11,699,442
Clear Channel Communications, Inc. Senior Secured
03/01/21	9.000%	372,000		366,420
Clear Channel Worldwide Holdings, Inc.
03/15/20	7.625%	777,000		819,735
11/15/22	6.500%	455,000		470,925
11/15/22	6.500%	455,000		475,475
DigitalGlobe, Inc. (a)
02/01/21	5.250%	450,000		425,250
Hughes Satellite Systems Corp.
06/15/21	7.625%	340,000		368,050
Intelsat Jackson Holdings SA
04/01/19	7.250%	355,000		383,844
10/15/20	7.250%	690,000		746,925
Intelsat Luxembourg SA (a)
06/01/21	7.750%	251,000		264,177
06/01/23	8.125%	525,000		564,375
MDC Partners, Inc. (a)
04/01/20	6.750%	636,000		651,900
Midcontinent Communications & Finance Corp. (a)
08/01/21	6.250%	86,000		87,075
NBCUniversal Media LLC
04/01/21	4.375%	15,060,000		16,312,887
01/15/43	4.450%	10,485,000		9,807,774
National CineMedia LLC Senior Secured
04/15/22	6.000%	966,000		1,009,470
News America, Inc.
09/15/22	3.000%	15,200,000		14,334,208
Nielsen Finance LLC/Co. (a)
10/01/20	4.500%	1,512,000		1,489,320
Reed Elsevier Capital, Inc.
10/15/22	3.125%	14,435,000		13,372,396

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Media Non-Cable (continued)
Scripps Networks Interactive, Inc. Senior Unsecured
12/15/16	2.700%	$	4,505,000	$	4,689,705
Sirius XM Radio, Inc. Senior Unsecured (a)
05/15/20	4.250%	455,000		423,150
Univision Communications, Inc. (a)
05/15/21	8.500%	351,000		384,345
Senior Secured
11/01/20	7.875%	295,000		323,025
09/15/22	6.750%	511,000		549,325
05/15/23	5.125%	209,000		204,820
Total				83,378,748
Metals 0.2%
Alpha Natural Resources, Inc.
04/15/18	9.750%	223,000		229,690
ArcelorMittal Senior Unsecured
02/25/22	6.750%	301,000		312,997
Arch Coal, Inc. (a)
06/15/19	9.875%	470,000		434,750
CONSOL Energy, Inc.
03/01/21	6.375%	25,000		25,313
Calcipar SA Senior Secured (a)
05/01/18	6.875%	359,000		371,565
FMG Resources August 2006 Proprietary Ltd. (a)
11/01/19	8.250%	445,000		467,250
FQM Akubra, Inc. (a)
06/01/20	8.750%	468,000		491,400
JMC Steel Group, Inc. Senior Notes (a)
03/15/18	8.250%	401,000		398,995
Peabody Energy Corp.
11/15/18	6.000%	617,000		630,882
Total				3,362,842
Non-Captive Consumer —%
Provident Funding Associates LP/PFG Finance Corp. (a)
06/15/21	6.750%	213,000		215,663
Springleaf Finance Corp. Senior Unsecured
12/15/17	6.900%	415,000		416,037
Total				631,700
Non-Captive Diversified 3.0%
Air Lease Corp.
03/01/20	4.750%	1,306,000		1,292,940

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Non-Captive Diversified (continued)
CIT Group, Inc.
Senior Unsecured
03/15/18	5.250%	$	420,000	$	446,250
CIT Group, Inc. (a)
Senior Secured
04/01/18	6.625%	705,000		775,500
Senior Unsecured
02/15/19	5.500%	1,251,000		1,319,805
CIT Group, Inc. (f)
Senior Unsecured
08/01/23	5.000%	175,000		171,573
General Electric Capital Corp. Senior Unsecured
01/09/23	3.100%	38,835,000		36,510,609
International Lease Finance Corp.
Senior Unsecured
09/01/17	8.875%	595,000		693,175
05/15/19	6.250%	907,000		956,885
12/15/20	8.250%	786,000		909,795
Total				43,076,532
Oil Field Services 1.1%
Atwood Oceanics, Inc. Senior Unsecured
02/01/20	6.500%	1,294,000		1,378,110
Green Field Energy Services, Inc. (a)
Secured
11/15/16	13.250%	682,000		695,640
11/15/16	13.250%	17,000		17,340
Noble Holding International Ltd.
03/15/22	3.950%	7,180,000		7,039,315
Offshore Group Investments Ltd. Senior Secured (a)
04/01/23	7.125%	538,000		539,345
Oil States International, Inc. (a)
01/15/23	5.125%	343,000		377,300
Pacific Drilling SA Senior Secured (a)
06/01/20	5.375%	672,000		658,560
Weatherford International Ltd.
03/15/38	7.000%	1,520,000		1,639,087
04/15/42	5.950%	3,945,000		3,867,572
Total				16,212,269
Other Financial Institutions —%
Patriot Merger Corp. Senior Unsecured (a)
07/15/21	9.000%	159,000		162,578
Other Industry 0.1%
CBRE Services, Inc.
03/15/23	5.000%	267,000		256,320
Interline Brands, Inc.
11/15/18	7.500%	424,000		445,200

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Other Industry (continued)
Unifrax I LLC/Holding Co. (a)
02/15/19	7.500%	$	380,000	$	390,450
Total				1,091,970
Packaging 0.2%
Ardagh Packaging Finance PLC/MP Holdings U.S.A., Inc. Senior Unsecured (a)
11/15/20	7.000%	332,000		325,360
BOE Intermediate Holding Corp. Senior Unsecured PIK (a)
11/01/17	9.000%	140,000		144,200
Reynolds Group Issuer, Inc. LLC Senior Secured
10/15/20	5.750%	208,000		211,640
Reynolds Group Issuer, Inc./LLC
04/15/19	9.000%	166,000		172,640
08/15/19	9.875%	225,000		243,000
02/15/21	8.250%	254,000		258,445
Senior Secured
08/15/19	7.875%	281,000		309,100
02/15/21	6.875%	746,000		793,558
Total				2,457,943
Paper —%
Graphic Packaging International, Inc.
04/15/21	4.750%	717,000		700,868
Pharmaceuticals 0.2%
Jaguar Holding Co. II/Merger Sub, Inc. Senior Unsecured (a)
12/01/19	9.500%	206,000		233,810
VPII Escrow Corp. (a)
Senior Unsecured
08/15/18	6.750%	243,000		256,365
07/15/21	7.500%	514,000		551,265
Valeant Pharmaceuticals International (a)
10/15/20	6.375%	1,452,000		1,502,820
Total				2,544,260
Property & Casualty 4.5%
Alleghany Corp. Senior Unsecured
06/27/22	4.950%	12,200,000		13,019,035
Berkshire Hathaway Finance Corp.
05/15/42	4.400%	7,745,000		7,316,012
CNA Financial Corp.
Senior Unsecured
12/15/14	5.850%	4,500,000		4,790,515
08/15/20	5.875%	11,651,000		13,320,076
HUB International Ltd. (a)
10/15/18	8.125%	630,000		669,375

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Property & Casualty (continued)
Liberty Mutual Group, Inc. (a)
05/01/22	4.950%	$	15,381,000	$	15,939,315
06/15/23	4.250%	4,425,000		4,339,810
Loews Corp. Senior Unsecured
05/15/23	2.625%	5,460,000		5,027,158
Total				64,421,296
Railroads 2.8%
Burlington Northern Santa Fe LLC
Senior Unsecured
06/01/41	5.400%	1,351,000		1,467,021
03/15/43	4.450%	3,845,000		3,642,088
CSX Corp.
Senior Unsecured
10/30/20	3.700%	5,740,000		6,001,973
05/30/42	4.750%	6,760,000		6,548,270
Canadian Pacific Railway Co. Senior Unsecured
03/15/23	4.450%	5,879,000		6,172,809
Norfolk Southern Corp.
Senior Unsecured
12/01/21	3.250%	7,450,000		7,372,930
04/01/22	3.000%	9,111,000		8,830,609
Total				40,035,700
Restaurants 1.2%
Yum! Brands, Inc.
Senior Unsecured
09/15/19	5.300%	2,745,000		3,096,475
11/01/20	3.875%	1,085,000		1,096,000
11/01/21	3.750%	12,615,000		12,620,412
Total				16,812,887
Retailers 0.3%
AutoNation, Inc.
02/01/20	5.500%	249,000		265,185
Burlington Coat Factory Warehouse Corp.
02/15/19	10.000%	652,000		728,610
Claire’s Stores, Inc. Senior Secured (a)
03/15/20	6.125%	224,000		227,360
Jo-Ann Stores, Inc. Senior Unsecured (a)
03/15/19	8.125%	284,000		291,810
L Brands, Inc.
05/01/20	7.000%	500,000		558,125
04/01/21	6.625%	175,000		192,500
Michaels FinCo Holdings LLC/Inc. Senior Unsecured PIK (a)
08/01/18	7.500%	721,000		724,605
Rite Aid Corp.
Senior Unsecured
02/15/27	7.700%	198,000		201,465
Rite Aid Corp. (a)

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Retailers (continued)
06/15/21	6.750%	$	315,000	$	315,787
Sally Holdings LLC/Capital, Inc.
11/15/19	6.875%	828,000		906,660
Total				4,412,107
Technology 1.7%
Alliance Data Systems Corp. (a)
12/01/17	5.250%	624,000		652,080
04/01/20	6.375%	724,000		760,200
Amkor Technology, Inc. Senior Unsecured
06/01/21	6.625%	274,000		276,055
Brocade Communications Systems, Inc. Senior Secured
01/15/20	6.875%	175,000		185,938
CDW LLC/Finance Corp.
04/01/19	8.500%	427,000		468,632
Cardtronics, Inc.
09/01/18	8.250%	620,000		666,500
CommScope Holdings Co., Inc. Senior Unsecured PIK (a)
06/01/20	6.625%	277,000		275,615
Corning, Inc. Senior Unsecured
08/15/20	4.250%	2,172,000		2,319,674
Equinix, Inc.
Senior Unsecured
04/01/20	4.875%	558,000		552,420
04/01/23	5.375%	185,000		183,613
First Data Corp. (a)
01/15/21	11.250%	301,000		311,535
08/15/21	11.750%	195,000		186,225
Secured
01/15/21	8.250%	888,000		927,960
Senior Secured
08/15/20	8.875%	520,000		569,400
11/01/20	6.750%	615,000		638,062
NXP BV/Funding LLC (a)
06/01/18	3.750%	879,000		865,815
02/15/21	5.750%	668,000		686,370
Nuance Communications, Inc. (a)
08/15/20	5.375%	812,000		791,700
Oracle Corp. Senior Unsecured
10/15/22	2.500%	13,585,000		12,633,031
VeriSign, Inc. (a)
05/01/23	4.625%	382,000		366,720
Total				24,317,545

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Textile —%
Quiksilver Inc./QS Wholesale Inc. Senior Secured (a)
08/01/18	7.875%	$	34,000	$	35,530
Transportation Services 0.6%
ERAC U.S.A. Finance LLC (a)
03/15/42	5.625%	7,005,000		7,145,478
Hertz Corp. (The)
10/15/18	7.500%	675,000		734,063
LBC Tank Terminals Holding Netherlands BV (a)
05/15/23	6.875%	914,000		939,135
Total				8,818,676
Wireless 2.1%
CC Holdings GS V LLC /Crown Castle GS III Corp. Senior Secured
12/15/17	2.381%	980,000		967,553
Crown Castle International Corp. Senior Unsecured
01/15/23	5.250%	1,083,000		1,042,387
MetroPCS Wireless, Inc. (a)
04/01/23	6.625%	424,000		433,540
NII International Telecom SCA (a)
08/15/19	7.875%	397,000		381,120
08/15/19	11.375%	831,000		912,022
Rogers Communications, Inc.
03/15/23	3.000%	12,870,000		11,935,587
SBA Telecommunications, Inc.
08/15/19	8.250%	582,000		630,015
07/15/20	5.750%	526,000		537,835
Softbank Corp. (a)
04/15/20	4.500%	771,000		745,943
Sprint Capital Corp.
11/15/28	6.875%	285,000		262,200
Sprint Communications, Inc.
Senior Unsecured
08/15/17	8.375%	127,000		143,510
11/15/22	6.000%	1,440,000		1,386,000
Sprint Communications, Inc. (a)
11/15/18	9.000%	1,590,000		1,892,100
03/01/20	7.000%	465,000		506,850
United States Cellular Corp. Senior Unsecured
12/15/33	6.700%	8,000,000		7,812,808
Wind Acquisition Finance SA Senior Secured (a)
04/30/20	6.500%	778,000		793,560
Total				30,383,030

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Wirelines 4.2%
AT&T, Inc. Senior Unsecured
06/15/45	4.350%	$	33,435,000	$	29,197,247
Frontier Communications Corp.
Senior Unsecured
07/01/21	9.250%	497,000		576,520
04/15/24	7.625%	368,000		371,680
Level 3 Communications, Inc. Senior Unsecured
02/01/19	11.875%	681,000		784,852
Level 3 Financing, Inc.
04/01/19	9.375%	418,000		463,980
07/01/19	8.125%	233,000		252,805
07/15/20	8.625%	150,000		165,000
Verizon Communications, Inc.
Senior Unsecured
11/01/21	3.500%	12,350,000		12,355,422
11/01/42	3.850%	18,440,000		15,069,864
Windstream Corp.
10/15/20	7.750%	288,000		306,720
Zayo Group LLC/Capital, Inc.
07/01/20	10.125%	244,000		278,770
Senior Secured
01/01/20	8.125%	572,000		629,200
Total				60,452,060
Total Corporate Bonds & Notes (Cost: $1,322,507,128)				$	1,293,887,444
Residential Mortgage-Backed Securities - Agency —%
Government National Mortgage Association (g)
01/15/19	10.000%	31		31
Total Residential Mortgage-Backed Securities - Agency (Cost: $30)				$	31
U.S. Treasury Obligations 3.8%
U.S. Treasury
05/15/23	1.750%	18,250,000		16,926,875
02/15/43	3.125%	40,690,000		36,951,606
Total U.S. Treasury Obligations (Cost: $54,336,339)				$	53,878,481

Borrower	Weighted Average Coupon	Principal Amount		Value
Senior Loans 0.8%
Automotive —%
Affinia Group, Inc. Tranche B2 Term Loan (h)(i)
04/25/20	4.750%	$	206,000	$	208,190
Brokerage —%
Nuveen Investments, Inc. 2nd Lien Tranche B Term Loan (h)(i)
02/28/19	6.500%	502,000		501,372
Chemicals 0.1%
Axalta Coating Systems Dutch Holding BBV/U.S. Holdings, Inc. Tranche B Term Loan (h)(i)
02/01/20	4.750%	304,237		307,237
Macdermid, Inc. (f)(h)(i)
2nd Lien Tranche B Term Loan
12/07/20	7.750%	467,000		471,670
Macdermid, Inc. (h)(i)
2nd Lien Tranche B Term Loan
12/07/20	7.750%	76,000		76,760
Total				855,667
Construction Machinery 0.1%
CPM Acquisition Corp. 1st Lien Term Loan (h)(i)
08/29/17	6.250%	538,380		540,065
Consumer Cyclical Services 0.1%
New Breed, Inc. Term Loan (h)(i)
10/01/19	6.000%	502,473		502,473
Consumer Products 0.1%
Serta Simmons Holdings LLC Term Loan (h)(i)
10/01/19	5.000%	512,425		515,787
Food and Beverage —%
New HB Acquisition LLC Tranche B Term Loan (h)(i)
04/09/20	6.750%	319,000		327,973
Gaming —%
ROC Finance LLC Tranche B Term Loan (h)(i)
04/08/19	5.000%	320,000		321,600

Borrower	Weighted Average Coupon	Principal Amount		Value
Senior Loans (continued)
Health Care 0.1%
American Renal Holdings, Inc. 2nd Lien Term Loan (h)(i)
03/20/20	8.500%	$	817,000	$	806,788
ConvaTec, Inc. Term Loan (h)(i)
12/22/16	5.000%	108,595		108,968
U.S. Renal Care, Inc. 1st Lien Term Loan (h)(i)
07/03/19	6.250%	593,010		590,786
United Surgical Partners International, Inc. Tranche B Term Loan (h)(i)
04/03/19	4.750%	369,779		371,784
Total				1,878,326
Life Insurance —%
Alliant Holdings I, Inc. Term Loan (h)(i)
12/20/19	5.000%	314,420		317,171
Lodging —%
Four Seasons Holdings 2nd Lien Term Loan (h)(i)
12/27/20	6.250%	105,000		106,575
Media Cable —%
TWCC Holding Corp. 2nd Lien Term Loan (f)(h)(i)
06/26/20	7.000%	49,000		50,102
Property & Casualty 0.1%
Asurion LLC Tranche B1 Term Loan (h)(i)
05/24/19	4.500%	580,085		579,070
Lonestar Intermediate Super Holdings LLC (f)(h)(i)
Term Loan
09/02/19	11.000%	395,000		410,800
Lonestar Intermediate Super Holdings LLC (h)(i)
Term Loan
09/02/19	11.000%	727,000		756,080
Total				1,745,950
Retailers —%
Rite Aid Corp. Tranche 1 2nd Lien Term Loan (h)(i)
08/21/20	5.750%	426,000		438,354

Borrower	Weighted Average Coupon	Principal Amount		Value
Senior Loans (continued)
Technology 0.2%
Ancestry.com, Inc. Tranche B1 Term Loan (h)(i)
12/28/18	5.250%	$	520,394	$	526,249
Blue Coat Systems, Inc. 2nd Lien Term Loan (f)(h)(i)
06/26/20	9.500%	814,000		814,000
Ion Trading Technologies SARL (f)(h)(i)
2nd Lien Term Loan
05/22/21	7.270%	270,693		271,370
Ion Trading Technologies SARL (h)(i)
2nd Lien Term Loan
05/22/21	7.270%	446,000		447,115
Triple Point Group Holdings, Inc. (f)(h)(i)
1st Lien Term Loan
07/11/20	5.250%	350,000		343,000
2nd Lien Term Loan
07/11/21	9.250%	339,000		326,287
Total				2,728,021
Wirelines —%
Integra Telecom Holdings, Inc. (h)(i)
2nd Lien Term Loan
02/21/20	9.750%	75,000		77,016
Tranche B Term Loan
02/22/19	5.250%	215,460		217,884
Total				294,900
Total Senior Loans (Cost: $11,159,200)				$	11,332,526

Issuer	Shares	Value
Common Stocks —%
FINANCIALS —%
Insurance —%
Washington Funding Trust LII D Escrow (b)(c)(e)(j)	1,075	$	—
WMI Holdings Corp. (j)	21,286	19,211
Total		19,211
TOTAL FINANCIALS		19,211
Total Common Stocks (Cost: $1,077,709)		$	19,211
Warrants —%
ENERGY —%
Energy Equipment & Services —%
Green Field Energy Services, Inc. (j)	682	$	40,920
Total Warrants (Cost: $26,740)		$	40,920
	Shares	Value
Money Market Funds 4.5%
Columbia Short-Term Cash Fund, 0.191% (k)(l)	64,107,434	$	64,107,434
Total Money Market Funds (Cost: $64,107,434)		$	64,107,434
Total Investments
(Cost: $1,453,214,580) (m)		$	1,423,266,047(n)
Other Assets & Liabilities, Net		6,964,900
Net Assets		$	1,430,230,947

Investments in Derivatives

Futures Contracts Outstanding at July 31, 2013

At July 31, 2013, $3,978,525 was held in a margin deposit account as collateral to cover initial margin requirements on open futures contracts.

	Number of Contracts		Notional Market		Expiration	Unrealized	Unrealized
Contract Description	Long (Short)		Value ($)		Date	Appreciation ($)	Depreciation ($)
U.S. Treasury Long Bond, 20-year	(902	)	(120,924,375	)	September 2013	6,172,085	—
U.S. Treasury Note, 5-year	(27	)	(3,276,914	)	September 2013	31,267	—
U.S. Treasury Note, 10-year	(1,082	)	(136,805,375	)	September 2013	3,347,964	—
U.S. Treasury Ultra Bond, 30-year	(27	)	(3,894,750	)	September 2013	240,428	—
Total						9,791,744	—

Notes to Portfolio of Investments

(a)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2013, the value of these securities amounted to $248,664,238 or 17.39% of net assets.
(b)	Identifies issues considered to be illiquid as to their marketability. The aggregate value of such securities at July 31, 2013 was $9,525, representing less than 0.01% of net assets.  Information concerning such security holdings at July 31, 2013 is as follows:

Security Description	Acquisition Dates	Cost ($)
Six Flags, Inc.
06/01/14 0.000%	05-07-10	—
Washington Funding Trust LII D Escrow	03-05-07	—
Washington Mutual Bank
Subordinated Notes
01/15/15 5.125%	03-10-06 - 05-14-08	5,688,448

(c)	Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At July 31, 2013, the value of these securities amounted to $9,525, which represents less than 0.01% of net assets.
(d)	Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At July 31, 2013, the value of these securities amounted to $9,525, which represents less than 0.01% of net assets.
(e)	Negligible market value.
(f)	Represents a security purchased on a when-issued or delayed delivery basis.
(g)	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.
(h)	Variable rate security.
(i)	Senior loans have rates of interest that float periodically based primarily on the London Interbank Offered Rate (“LIBOR”) and other short-term rates. The interest rate shown reflects the weighted average coupon as of July 31, 2013. The interest rate shown for senior loans purchased on a when-issued or delayed delivery basis, if any, reflects an estimated average coupon. 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.
(j)	Non-income producing.
(k)	The rate shown is the seven-day current annualized yield at July 31, 2013.
(l)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of its outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended July 31, 2013, are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds from Sales ($)		Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	93,058,854	186,995,502	(215,946,922	)	64,107,434	28,554	64,107,434

(m) At July 31, 2013, the cost of securities for federal income tax purposes was approximately $1,453,215,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	14,864,000
Unrealized Depreciation	(44,813,000		)
Net Unrealized Depreciation	$	(29,949,000	)

(n) Investments are valued using policies described in the notes to financial statements in the most recent shareholder report.

Abbreviation Legend
PIK	Payment-in-Kind

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 (including 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 Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

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

Under the direction of the Fund’s Board of Trustees (the Board), the Investment Manager’s Valuation Committee (the Committee) is responsible for carrying out the valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation control policies and procedures (the Policies).  The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third-party pricing vendors, including periodic reviews of vendors.  The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions.  The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

For investments categorized as Level 3, the Committee monitors information similar to that described above, which may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions.  The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value.  This data is also used to corroborate, when available, information received from approved pricing vendors and brokers.  Various factors impact the frequency of monitoring this information (which may occur as often as daily). However, the Committee may determine that changes to inputs, assumptions and models are not required as a result of the monitoring procedures performed.

The following table is a summary of the inputs used to value the Fund’s investments at July 31, 2013:

Description	Level 1	Level 2	Level 3
	Quoted Prices in	Other Significant	Significant
	Active Markets for	Observable	Unobservable
	Identical Assets ($)	Inputs ($)	Inputs ($)	Total ($)
Bonds
Corporate Bonds & Notes
Banking	—	85,263,616	9,525	85,273,141
All other Industries	—	1,208,614,303	—	1,208,614,303
Residential Mortgage-Backed Securities - Agency	—	31	—	31
U.S. Treasury Obligations	53,878,481	—	—	53,878,481
Total Bonds	53,878,481	1,293,877,950	9,525	1,347,765,956
Equity Securities
Common Stocks
Financials	19,211	—	—	19,211
Warrants
Energy	—	40,920	—	40,920
Total Equity Securities	19,211	40,920	—	60,131
Mutual Funds
Money Market Funds	64,107,434	—	—	64,107,434
Total Mutual Funds	64,107,434	—	—	64,107,434
Other
Senior Loans
Health Care	—	1,287,540	590,786	1,878,326
Property & Casualty	—	579,070	1,166,880	1,745,950
All other Industries	—	7,708,250	—	7,708,250
Total Other	—	9,574,860	1,757,666	11,332,526
Investments in Securities	118,005,126	1,303,493,730	1,767,191	1,423,266,047
Derivatives
Assets
Futures Contracts	9,791,744	—	—	9,791,744
Total	127,796,870	1,303,493,730	1,767,191	1,433,057,791

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

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

There were no transfers of financial assets between Levels 1 and 2 during the period.

Derivative instruments are valued at unrealized appreciation (depreciation).

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

	Corporate Bonds & Notes ($)	Senior Loans ($)		Total ($)
Balance as of April 30, 2013	9,525	—		9,525
Accrued discounts/premiums	—	379		379
Realized gain (loss)	—	23,600		23,600
Change in unrealized appreciation (depreciation)(a)	—	(75,971	)	(75,971	)
Sales	—	(800,377	)	(800,377	)
Purchases	—	416,231		416,231
Transfers into Level 3	—	2,193,804		2,193,804
Transfers out of Level 3	—	—		—
Balance as of July 31, 2013	9,525	1,757,666		1,767,191

(a)Change in unrealized appreciation (depreciation) relating to securities held at July 31, 2013 was $(75,971) for Senior Loans.

The Fund does not hold any significant investments with unobservable inputs which are categorized as Level 3.

The Fund’s assets assigned to the Level 3 category are valued utilizing the valuation technique deemed the most appropriate in the circumstances.

Certain Corporate Bonds & Notes classified as Level 3 are valued using an income approach.  To determine fair value for these securities, management considered estimates of future distributions from the liquidation of company assets or potential actions related to the respective company’s bankruptcy filing.  Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.  Generally, a change in the bankruptcy filings would result in a directionally similar change to estimates of future distributions.

Certain senior loans classified as Level 3 are valued using the market approach and utilize single market quotations from broker dealers which may have included, but not limited to, the distressed nature of the security and observable transactions for similar assets in the market. Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.

Financial Assets were transferred from Level 2 to Level 3 due to utilizing a single market quotation from a broker dealer.  As a result, as of period end, management determined to value the security(s) under consistently applied procedures established by and under the general supervision of the Board of Trustees.

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 Intermediate Bond Fund

July 31, 2013 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes 43.7%
Aerospace & Defense 0.4%
ADS Tactical, Inc. Senior Secured (a)
04/01/18	11.000%	$	1,055,000	$	1,002,250
Bombardier, Inc. Senior Notes (a)
01/15/23	6.125%	614,000		621,675
Huntington Ingalls Industries, Inc.
03/15/18	6.875%	490,000		534,100
Kratos Defense & Security Solutions, Inc. Senior Secured
06/01/17	10.000%	1,281,000		1,383,480
L-3 Communications Corp.
02/15/21	4.950%	8,235,000		8,715,348
Lockheed Martin Corp. Senior Unsecured
09/15/21	3.350%	3,775,000		3,771,372
Oshkosh Corp.
03/01/20	8.500%	736,000		812,360
TransDigm, Inc.
12/15/18	7.750%	128,000		136,480
TransDigm, Inc. (a)
10/15/20	5.500%	293,000		286,407
Senior Subordinated Notes
07/15/21	7.500%	422,000		447,320
Total				17,710,792
Automotive 1.4%
Allison Transmission, Inc. (a)
05/15/19	7.125%	503,000		533,180
American Axle & Manufacturing, Inc.
03/15/21	6.250%	487,000		511,959
Chrysler Group LLC/Co-Issuer, Inc. Secured
06/15/19	8.000%	684,000		746,415
Dana Holding Corp. Senior Unsecured
02/15/21	6.750%	356,000		379,140
Ford Motor Co.
Senior Unsecured
02/01/29	6.375%	8,135,000		8,884,136
07/16/31	7.450%	7,395,000		9,118,397
11/01/46	7.400%	4,755,000		5,800,539
Ford Motor Credit Co. LLC
Senior Unsecured
04/15/16	4.207%	5,694,000		6,001,089
06/15/16	3.984%	32,446,000		34,073,588
General Motors Financial Co., Inc. (a)
Senior Unsecured
05/15/18	3.250%	120,000		117,300
05/15/23	4.250%	172,000		165,120
Jaguar Land Rover Automotive PLC (a)
02/01/23	5.625%	650,000		637,000

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Automotive (continued)
Schaeffler Finance BV (a)
Senior Secured
02/15/19	8.500%	$	482,000	$	541,045
05/15/21	4.750%	412,000		399,640
Schaeffler Holding Finance BV Senior Secured PIK (a)
08/15/18	6.875%	765,000		784,460
Visteon Corp.
04/15/19	6.750%	522,000		557,235
Total				69,250,243
Banking 9.1%
Ally Financial, Inc.
02/15/17	5.500%	314,000		331,969
03/15/20	8.000%	2,750,000		3,238,125
BNP Paribas SA (a)(b)
06/29/49	5.186%	2,330,000		2,332,330
Bank of America Corp. Senior Unsecured
01/11/23	3.300%	55,565,000		52,309,669
Bank of Montreal Senior Unsecured
11/06/22	2.550%	18,460,000		17,106,718
Bank of New York Mellon Corp. (The) Senior Unsecured
05/15/19	5.450%	3,325,000		3,831,883
Bank of New York Mellon (b)
12/29/49	4.500%	17,710,000		16,293,200
Barclays Bank PLC (a)(b)
09/29/49	7.434%	27,063,000		29,187,445
Barclays Bank PLC (b)
12/15/49	6.278%	11,325,000		10,503,937
Chinatrust Commercial Bank Subordinated Notes (a)(b)
03/29/49	5.625%	3,570,000		3,570,000
Citigroup, Inc. Subordinated Notes
08/25/36	6.125%	12,370,000		12,507,319
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA (a)(b)
12/31/49	11.000%	1,775,000		2,289,750
Credit Agricole SA (a)(b)
12/31/49	8.375%	15,110,000		16,243,250
HBOS Capital Funding LP (a)(b)
12/31/49	6.071%	1,620,000		1,555,200
HBOS PLC Subordinated Notes (a)
05/21/18	6.750%	47,717,000		51,568,096
JPMorgan Chase & Co.
Senior Unsecured
09/23/22	3.250%	5,755,000		5,476,821

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Banking (continued)
JPMorgan Chase & Co. (b)
12/29/49	5.150%	$	4,745,000	$	4,400,988
12/29/49	6.000%	5,479,000		5,389,966
JPMorgan Chase Capital XXI (b)
02/02/37	1.216%	38,525,000		29,664,250
JPMorgan Chase Capital XXIII (b)
05/15/47	1.275%	18,055,000		13,902,350
Lloyds Banking Group PLC (a)(b)
11/29/49	6.267%	10,225,000		8,537,875
M&T Bank Corp. (a)
12/31/49	6.875%	23,788,000		24,757,480
Mellon Capital IV (b)
06/29/49	4.000%	1,035,000		952,200
Merrill Lynch & Co., Inc. Subordinated Notes
05/02/17	5.700%	7,605,000		8,286,492
Natixis (a)(b)
12/31/49	10.000%	2,710,000		3,062,300
PNC Financial Services Group, Inc. (The) (b)
05/29/49	4.494%	17,884,000		17,816,935
Societe Generale SA Subordinated Notes (b)
12/31/49	6.625%	8,675,000		8,761,750
State Street Capital Trust IV (b)
06/01/67	1.273%	11,181,000		9,168,420
State Street Corp.
03/15/18	4.956%	26,514,000		29,244,465
Synovus Financial Corp. Senior Unsecured
02/15/19	7.875%	1,041,000		1,191,945
U.S. Bancorp Subordinated Notes
07/15/22	2.950%	12,670,000		12,013,745
UBS Preferred Funding Trust V (b)
05/29/49	6.243%	1,080,000		1,142,100
Wachovia Capital Trust III (b)
03/29/49	5.570%	22,395,000		21,891,112
Washington Mutual Bank Subordinated Notes (c)(d)(e)
01/15/15	5.125%	27,379,000		41,069
Wells Fargo & Co. (b)
03/29/49	7.980%	6,564,000		7,368,090
Wells Fargo Capital X
12/15/36	5.950%	14,155,000		14,013,450
Total				449,952,694
Brokerage —%
E*TRADE Financial Corp. Senior Unsecured
11/15/19	6.375%	682,000		724,625

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Brokerage (continued)
Nuveen Investments, Inc. Senior Unsecured (a)
10/15/20	9.500%	$	579,000	$	586,237
Total				1,310,862
Building Materials 0.1%
American Builders & Contractors Supply Co., Inc. Senior Unsecured (a)
04/15/21	5.625%	513,000		511,717
Gibraltar Industries, Inc. (a)
02/01/21	6.250%	209,000		214,225
HD Supply, Inc.
01/15/21	10.500%	568,000		585,040
HD Supply, Inc. (a)
Senior Unsecured
07/15/20	7.500%	730,000		773,800
Nortek, Inc.
12/01/18	10.000%	127,000		138,748
04/15/21	8.500%	592,000		640,840
Total				2,864,370
Chemicals 1.0%
Ashland, Inc. (a)
08/15/22	4.750%	440,000		434,500
08/15/22	4.750%	258,000		254,775
Celanese U.S. Holdings LLC
06/15/21	5.875%	711,000		746,550
11/15/22	4.625%	80,000		77,400
Chemtura Corp.
07/15/21	5.750%	120,000		119,400
Huntsman International LLC
11/15/20	4.875%	300,000		297,000
JM Huber Corp. Senior Notes (a)
11/01/19	9.875%	827,000		932,442
Lubrizol Corp.
02/01/19	8.875%	4,611,000		6,126,308
LyondellBasell Industries NV
Senior Unsecured
04/15/19	5.000%	11,065,000		12,250,925
11/15/21	6.000%	19,490,000		22,311,100
Momentive Performance Materials, Inc.
Senior Secured
10/15/20	8.875%	723,000		771,803
10/15/20	10.000%	126,000		134,820
NOVA Chemicals Corp. Senior Unsecured (a)
08/01/23	5.250%	299,000		299,000
PQ Corp. Secured (a)
05/01/18	8.750%	1,664,000		1,768,000

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Chemicals (continued)
U.S. Coatings Acquisition, Inc./Axalta Coating Systems Dutch Holding B BV (a)
05/01/21	7.375%	$	845,000	$	876,687
Total				47,400,710
Construction Machinery 0.2%
Case New Holland, Inc.
12/01/17	7.875%	1,206,000		1,414,035
Caterpillar, Inc. Senior Unsecured
06/26/22	2.600%	6,610,000		6,234,658
Columbus McKinnon Corp.
02/01/19	7.875%	752,000		800,880
H&E Equipment Services, Inc.
09/01/22	7.000%	102,000		109,140
Neff Rental LLC/Finance Corp. Secured (a)
05/15/16	9.625%	888,000		936,840
United Rentals North America, Inc.
12/15/19	9.250%	695,000		781,875
04/15/22	7.625%	1,086,000		1,210,890
Total				11,488,318
Consumer Cyclical Services 0.1%
Corrections Corp. of America
05/01/23	4.625%	357,000		348,075
GNET Escrow Corp. Senior Secured (a)
07/01/18	12.125%	290,000		310,300
Goodman Networks, Inc. Senior Secured (a)
07/01/18	13.125%	584,000		624,880
Monitronics Escrow Corp. Senior Unsecured (a)
04/01/20	9.125%	146,000		151,475
Monitronics International, Inc.
04/01/20	9.125%	385,000		400,400
Service Corp., International Senior Unsecured (a)
01/15/22	5.375%	249,000		250,556
Vivint, Inc. (a)
Senior Secured
12/01/19	6.375%	1,464,000		1,427,400
Senior Unsecured
12/01/20	8.750%	969,000		969,000
Total				4,482,086
Consumer Products 0.1%
First Quality Finance Co., Inc. Senior Unsecured (a)
05/15/21	4.625%	526,000		501,015

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Consumer Products (continued)
SIWF Merger Sub, Inc. Senior Secured (a)
06/01/21	6.250%	$	661,000	$	661,000
Serta Simmons Holdings LLC Senior Unsecured (a)
10/01/20	8.125%	719,000		760,342
Spectrum Brands Escrow Corp. (a)
11/15/20	6.375%	594,000		631,125
11/15/22	6.625%	305,000		326,350
Spectrum Brands, Inc.
03/15/20	6.750%	398,000		428,845
Tempur Sealy International, Inc. (a)
12/15/20	6.875%	109,000		115,540
Total				3,424,217
Diversified Manufacturing 0.5%
Amsted Industries, Inc. Senior Notes (a)
03/15/18	8.125%	426,000		452,625
Apex Tool Group LLC (a)
02/01/21	7.000%	205,000		213,200
General Electric Co.
Senior Unsecured
10/09/22	2.700%	12,575,000		11,968,646
10/09/42	4.125%	11,147,000		10,394,176
Renaissance Acquisition Corp. Senior Unsecured (a)
08/15/21	6.875%	827,000		822,865
Silver II Borrower/US Holdings LLC (a)
12/15/20	7.750%	624,000		653,640
Total				24,505,152
Electric 3.8%
Alabama Power Co.
Senior Unsecured
03/15/41	5.500%	12,200,000		13,833,983
01/15/42	4.100%	4,453,000		4,078,618
CMS Energy Corp.
Senior Unsecured
09/30/15	4.250%	3,690,000		3,921,694
02/15/18	5.050%	7,226,000		8,078,683
Calpine Corp. Senior Secured (a)
02/15/21	7.500%	659,000		710,072
Commonwealth Edison Co.
1st Mortgage
03/15/36	5.900%	6,105,000		7,275,738
Senior Unsecured
07/15/18	6.950%	4,500,000		5,324,395
Consolidated Edison Co. of New York, Inc. Senior Unsecured
04/01/38	6.750%	5,303,000		6,893,895

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Electric (continued)
Duke Energy Carolinas LLC 1st Refunding Mortgage
09/30/42	4.000%	$	11,526,000	$	10,586,251
FPL Energy American Wind LLC Senior Secured (a)
06/20/23	6.639%	1,328,590		1,221,743
FPL Energy National Wind LLC Senior Secured (a)
03/10/24	5.608%	676,413		608,709
FirstEnergy Corp.
Senior Unsecured
03/15/18	2.750%	13,625,000		13,192,311
03/15/23	4.250%	7,640,000		6,974,991
GenOn Energy, Inc. Senior Unsecured
10/15/18	9.500%	935,000		1,070,575
Georgia Power Co. Senior Unsecured
09/01/40	4.750%	7,137,000		7,153,165
Nevada Power Co.
05/15/18	6.500%	2,173,000		2,587,819
08/01/18	6.500%	1,818,000		2,200,278
09/15/40	5.375%	2,525,000		2,836,547
05/15/41	5.450%	11,790,000		13,300,093
Niagara Mohawk Power Corp. Senior Unsecured (a)
08/15/19	4.881%	9,111,000		10,241,192
Oncor Electric Delivery Co. LLC Senior Secured
09/30/40	5.250%	7,131,000		7,575,504
PPL Capital Funding, Inc.
06/01/18	1.900%	9,930,000		9,775,797
06/01/23	3.400%	21,855,000		20,860,401
Pacific Gas & Electric Co.
Senior Unsecured
06/15/23	3.250%	11,227,000		11,018,863
01/15/40	5.400%	4,445,000		4,888,149
Southern California Edison Co. 1st Refunding Mortgage
09/01/40	4.500%	4,460,000		4,540,797
Tenaska Alabama II Partners LP Senior Secured (a)
03/30/23	6.125%	2,250,604		2,427,386
Toledo Edison Co. (The) Senior Secured
05/15/37	6.150%	3,543,000		4,006,913
Total				187,184,562
Entertainment 0.1%
AMC Entertainment, Inc.
06/01/19	8.750%	884,000		956,930
12/01/20	9.750%	46,000		52,440

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Entertainment (continued)
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp. (a)
03/15/21	5.250%	$	443,000	$	433,032
Cinemark USA, Inc.
12/15/22	5.125%	302,000		291,053
Six Flags, Inc. (a)(c)(e)(f)
06/01/14	0.000%	458,000		—
United Artists Theatre Circuit, Inc. 1995-A Pass-Through Certificates (c)(e)
07/01/15	9.300%	1,785,809		1,785,809
Total				3,519,264
Environmental —%
Clean Harbors, Inc.
08/01/20	5.250%	831,000		851,775
Food and Beverage 1.2%
ARAMARK Corp. (a)
03/15/20	5.750%	471,000		489,840
B&G Foods, Inc.
06/01/21	4.625%	789,000		762,371
Campbell Soup Co.
Senior Unsecured
08/02/22	2.500%	6,538,000		5,983,421
08/02/42	3.800%	8,827,000		7,232,252
Coca-Cola Co. (The) Senior Unsecured
09/01/21	3.300%	13,676,000		13,994,364
ConAgra Foods, Inc.
Senior Unsecured
01/25/18	1.900%	12,038,000		11,960,560
10/01/28	7.000%	9,850,000		12,051,652
Constellation Brands Inc.
Senior Unsecured
05/01/21	3.750%	217,000		202,895
05/01/23	4.250%	588,000		554,190
HJ Heinz Co. Secured (a)
10/15/20	4.250%	1,086,000		1,042,560
Heineken NV Senior Unsecured (a)
10/01/42	4.000%	2,620,000		2,243,349
Mondelez International, Inc. Senior Unsecured
02/09/40	6.500%	3,870,000		4,655,498
Pinnacle Foods Finance LLC/Corp. (a)
05/01/21	4.875%	383,000		359,062
Shearer’s Foods, Inc. LLC Senior Secured (a)
11/01/19	9.000%	477,000		509,794
Total				62,041,808

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Gaming 0.2%
Boyd Gaming Corp.
07/01/20	9.000%	$	98,000	$	104,615
Caesars Entertainment Operating Co., Inc. Senior Secured
02/15/20	8.500%	536,000		499,150
Caesars Operating Escrow LLC /Corp. Senior Secured (a)
02/15/20	9.000%	272,000		256,360
MGM Resorts International
03/01/18	11.375%	849,000		1,073,985
10/01/20	6.750%	109,000		115,949
12/15/21	6.625%	311,000		328,105
PNK Finance Corp. Senior Unsecured (a)(g)
08/01/21	6.375%	843,000		849,322
Pinnacle Entertainment, Inc.
04/01/22	7.750%	21,000		21,997
ROC Finance LLC/Corp. Secured (a)
09/01/18	12.125%	1,149,000		1,309,860
Seminole Indian Tribe of Florida (a)
Secured
10/01/17	7.750%	61,000		64,889
Senior Unsecured
10/01/20	7.804%	695,000		743,546
Seneca Gaming Corp. (a)
12/01/18	8.250%	473,000		506,110
Studio City Finance Ltd. (a)
12/01/20	8.500%	1,157,000		1,220,635
SugarHouse HSP Gaming LP/Finance Corp. Senior Secured (a)
06/01/21	6.375%	473,000		451,124
Tunica-Biloxi Gaming Authority Senior Unsecured (a)
11/15/15	9.000%	577,000		522,185
Total				8,067,832
Gas Distributors 0.1%
Sempra Energy Senior Unsecured
06/01/16	6.500%	5,060,000		5,787,355
Gas Pipelines 2.9%
Access Midstream Partners LP/Finance Corp.
05/15/23	4.875%	1,132,000		1,075,400
DCP Midstream LLC (a)(b)
05/21/43	5.850%	13,635,000		13,021,425
El Paso LLC
Senior Secured
09/15/20	6.500%	1,329,000		1,425,358
01/15/32	7.750%	416,000		441,996

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Gas Pipelines (continued)
El Paso Pipeline Partners Operating Co. LLC
10/01/21	5.000%	$	11,379,000	$	12,268,963
Enterprise Products Operating LLC
03/15/23	3.350%	8,700,000		8,391,576
02/01/41	5.950%	8,593,000		9,537,036
02/15/42	5.700%	3,939,000		4,264,180
Hiland Partners LP/Finance Corp. (a)
10/01/20	7.250%	1,549,000		1,626,450
Kinder Morgan Energy Partners LP
Senior Unsecured
01/15/38	6.950%	4,355,000		5,175,142
09/01/39	6.500%	5,079,000		5,751,048
MarkWest Energy Partners LP/Finance Corp.
06/15/22	6.250%	603,000		642,195
02/15/23	5.500%	938,000		947,380
07/15/23	4.500%	137,000		128,780
NiSource Finance Corp.
02/15/23	3.850%	5,220,000		5,120,580
12/15/40	6.250%	6,805,000		7,589,759
Regency Energy Partners LP/Finance Corp.
07/15/21	6.500%	1,176,000		1,264,200
04/15/23	5.500%	783,000		790,830
Regency Energy Partners LP/Finance Corp. (a)
11/01/23	4.500%	370,000		347,800
Sabine Pass Liquefaction LLC (a)
Senior Secured
02/01/21	5.625%	760,000		749,550
04/15/23	5.625%	798,000		778,050
Southern Natural Gas Co. LLC/Issuing Corp. Senior Unsecured
06/15/21	4.400%	9,460,000		9,773,107
Southern Natural Gas Co. LLC Senior Unsecured
03/01/32	8.000%	5,215,000		6,877,021
TransCanada PipeLines Ltd. (b)
05/15/67	6.350%	30,598,000		32,119,180
Transcontinental Gas Pipe Line Co. LLC Senior Unsecured
08/01/42	4.450%	9,430,000		8,567,032
Williams Partners LP Senior Unsecured
04/15/40	6.300%	5,395,000		5,731,875
Total				144,405,913
Health Care 0.8%
Amsurg Corp.
11/30/20	5.625%	317,000		323,340
Biomet, Inc.
08/01/20	6.500%	575,000		603,750
CHS/Community Health Systems, Inc.
11/15/19	8.000%	510,000		538,687
Senior Secured
08/15/18	5.125%	474,000		483,480

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Health Care (continued)
ConvaTec Healthcare E SA Senior Unsecured (a)
12/15/18	10.500%	$	1,090,000	$	1,226,250
DaVita HealthCare Partners, Inc.
08/15/22	5.750%	568,000		575,810
Emdeon, Inc.
12/31/19	11.000%	557,000		636,372
Express Scripts Holding Co.
02/15/22	3.900%	10,060,000		10,240,366
Fresenius Medical Care U.S. Finance II, Inc. (a)
07/31/19	5.625%	335,000		354,681
01/31/22	5.875%	846,000		892,530
Fresenius Medical Care U.S. Finance, Inc. (a)
09/15/18	6.500%	848,000		934,920
HCA, Inc.
02/15/22	7.500%	1,655,000		1,866,012
05/01/23	5.875%	392,000		395,920
Senior Secured
02/15/20	6.500%	889,000		979,011
02/15/20	7.875%	395,000		428,822
05/01/23	4.750%	102,000		98,430
IASIS Healthcare LLC/Capital Corp.
05/15/19	8.375%	421,000		442,050
IMS Health, Inc. Senior Unsecured (a)
11/01/20	6.000%	427,000		440,878
Kinetic Concepts, Inc./KCI U.S.A., Inc. Secured
11/01/18	10.500%	426,000		467,535
MPH Intermediate Holding Co. 2 Senior Unsecured PIK (a)
08/01/18	8.375%	383,000		391,139
McKesson Corp. Senior Unsecured
12/15/22	2.700%	16,140,000		15,124,778
Multiplan, Inc. (a)
09/01/18	9.875%	779,000		864,690
Physio-Control International, Inc. Senior Secured (a)
01/15/19	9.875%	603,000		669,330
Radnet Management, Inc.
04/01/18	10.375%	364,000		387,205
STHI Holding Corp. Secured (a)
03/15/18	8.000%	768,000		829,440
Tenet Healthcare Corp. Senior Secured (a)
04/01/21	4.500%	509,000		474,643
Truven Health Analytics, Inc. (a)
06/01/20	10.625%	590,000		653,425

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Health Care (continued)
Universal Hospital Services, Inc. Secured
08/15/20	7.625%	$	190,000	$	200,925
Vanguard Health Holding Co. II LLC/Inc.
02/01/18	8.000%	501,000		531,686
02/01/19	7.750%	258,000		277,028
Total				42,333,133
Healthcare Insurance 0.2%
Aetna, Inc. Senior Unsecured
11/15/22	2.750%	9,115,000		8,444,491
Home Construction 0.1%
Ashton Woods U.S.A. LLC/Finance Co. (a)
02/15/21	6.875%	183,000		184,830
Beazer Homes USA, Inc.
05/15/19	9.125%	311,000		331,215
Beazer Homes USA, Inc. (a)
02/01/23	7.250%	275,000		283,250
Brookfield Residential Properties, Inc. /U.S. Corp. (a)
07/01/22	6.125%	206,000		210,635
KB Home
03/15/20	8.000%	419,000		467,185
Meritage Homes Corp.
03/01/18	4.500%	377,000		377,000
04/01/22	7.000%	461,000		502,490
Shea Homes LP/Funding Corp. Senior Secured
05/15/19	8.625%	362,000		398,200
Taylor Morrison Communities, Inc./Monarch, Inc. (a)
04/15/20	7.750%	701,000		767,595
04/15/21	5.250%	178,000		171,325
Woodside Homes Co., LLC / Finance, Inc. Senior Unsecured (a)(g)
12/15/21	6.750%	243,000		245,430
Total				3,939,155
Independent Energy 2.4%
Anadarko Petroleum Corp.
Senior Unsecured
09/15/17	6.375%	5,310,000		6,200,623
03/15/40	6.200%	3,810,000		4,358,629
Antero Resources Finance Corp.
08/01/19	7.250%	219,000		231,045
Athlon Holdings LP/Finance Corp. (a)
04/15/21	7.375%	707,000		717,605
Aurora USA Oil & Gas, Inc. Senior Unsecured (a)
04/01/20	7.500%	1,082,000		1,071,180

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Independent Energy (continued)
Carrizo Oil & Gas, Inc.
10/15/18	8.625%	$	1,428,000	$	1,560,090
Chesapeake Energy Corp.
08/15/20	6.625%	1,154,000		1,252,090
02/15/21	6.125%	1,185,000		1,256,100
03/15/23	5.750%	667,000		672,003
Comstock Resources, Inc.
06/15/20	9.500%	773,000		846,435
Concho Resources, Inc.
01/15/21	7.000%	2,742,000		3,016,200
Continental Resources, Inc.
04/01/21	7.125%	1,068,000		1,184,145
04/15/23	4.500%	18,083,000		17,585,717
Devon Energy Corp.
Senior Unsecured
01/15/19	6.300%	4,360,000		5,108,438
05/15/42	4.750%	4,695,000		4,391,149
EP Energy Holdings LLC/Bond Co., Inc. Senior Unsecured PIK (a)
12/15/17	8.125%	471,388		483,173
EP Energy LLC/Finance, Inc. Senior Unsecured
05/01/20	9.375%	724,000		825,360
EnCana Corp. Senior Unsecured
11/15/21	3.900%	4,515,000		4,596,992
Halcon Resources Corp.
05/15/21	8.875%	747,000		754,470
Hess Corp.
Senior Unsecured
02/15/19	8.125%	2,925,000		3,718,374
10/01/29	7.875%	4,005,000		5,096,923
08/15/31	7.300%	2,143,000		2,649,590
Kodiak Oil & Gas Corp.
12/01/19	8.125%	1,681,000		1,844,897
Kodiak Oil & Gas Corp. (a)
01/15/21	5.500%	776,000		781,820
02/01/22	5.500%	286,000		285,285
Laredo Petroleum, Inc.
02/15/19	9.500%	728,000		808,080
05/01/22	7.375%	814,000		858,770
Nexen, Inc.
Senior Unsecured
05/15/37	6.400%	7,295,000		8,071,611
07/30/39	7.500%	8,556,000		10,678,521
Oasis Petroleum, Inc.
11/01/21	6.500%	2,241,000		2,375,460
01/15/23	6.875%	753,000		796,298
Plains Exploration & Production Co.
02/15/23	6.875%	731,000		787,359
QEP Resources, Inc. Senior Unsecured
05/01/23	5.250%	1,214,000		1,195,790

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Independent Energy (continued)
Range Resources Corp.
05/15/19	8.000%	$	482,000	$	520,560
08/01/20	6.750%	415,000		449,238
Ras Laffan Liquefied Natural Gas Co., Ltd. II Senior Secured (a)
09/30/20	5.298%	4,899,179		5,266,617
SM Energy Co.
Senior Unsecured
11/15/21	6.500%	447,000		473,820
01/01/23	6.500%	254,000		269,240
SM Energy Co. (a)
Senior Unsecured
01/15/24	5.000%	412,000		401,700
Whiting Petroleum Corp.
10/01/18	6.500%	53,000		56,180
Woodside Finance Ltd. (a)
05/10/21	4.600%	14,075,000		14,880,189
Total				118,377,766
Integrated Energy 1.3%
Chevron Corp.
06/24/18	1.718%	7,895,000		7,860,672
Senior Unsecured
06/24/20	2.427%	30,005,000		29,739,036
Shell International Finance BV
08/21/22	2.375%	19,250,000		18,035,363
03/25/40	5.500%	6,171,000		7,224,248
Total				62,859,319
Life Insurance 1.6%
ING Capital Funding Trust III (b)
12/31/49	3.874%	2,415,000		2,342,550
ING U.S., Inc. (a)
07/15/22	5.500%	3,680,000		3,978,454
ING U.S., Inc. (a)(b)
05/15/53	5.650%	9,285,000		8,820,750
MetLife Capital Trust X (a)
04/08/38	9.250%	17,010,000		22,623,300
MetLife, Inc.
08/01/39	10.750%	2,606,000		3,961,120
Prudential Financial, Inc.
Senior Unsecured
12/01/17	6.000%	431,000		496,982
Prudential Financial, Inc. (b)
06/15/38	8.875%	20,452,000		24,644,660
09/15/42	5.875%	9,820,000		9,918,200
03/15/44	5.200%	1,270,000		1,177,925
Total				77,963,941
Lodging —%
Choice Hotels International, Inc.
07/01/22	5.750%	484,000		508,200

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Media Cable 0.8%
CCO Holdings LLC/Capital Corp.
01/31/22	6.625%	$	1,054,000	$	1,077,715
CCO Holdings LLC/Capital Corp. (a)
03/15/21	5.250%	505,000		488,588
CSC Holdings LLC
Senior Unsecured
02/15/18	7.875%	507,000		581,782
02/15/19	8.625%	87,000		101,790
CSC Holdings, Inc. Senior Unsecured
11/15/21	6.750%	442,000		485,095
Cablevision Systems Corp. Senior Unsecured
09/15/22	5.875%	471,000		468,645
Cequel Communications Holdings I LLC/Capital Corp. Senior Unsecured (a)
09/15/20	6.375%	727,000		750,627
Cogeco Cable, Inc. (a)
05/01/20	4.875%	167,000		164,913
DIRECTV Holdings LLC/Financing Co., Inc.
03/15/17	2.400%	12,855,000		12,956,465
03/01/21	5.000%	4,642,000		4,888,820
DISH DBS Corp.
06/01/21	6.750%	1,578,000		1,672,680
07/15/22	5.875%	914,000		911,715
03/15/23	5.000%	724,000		678,750
NBCUniversal Enterprise, Inc. (a)
04/15/19	1.974%	8,990,000		8,775,408
Quebecor Media, Inc. Senior Unsecured
01/15/23	5.750%	731,000		714,552
Time Warner Cable, Inc.
09/01/41	5.500%	5,595,000		4,790,864
Unitymedia Hessen GmbH & Co. KG NRW Senior Secured (a)
01/15/23	5.500%	356,000		345,320
Videotron Ltd.
07/15/22	5.000%	411,000		406,890
WaveDivision Escrow LLC/Corp. Senior Unsecured (a)
09/01/20	8.125%	24,000		25,200
WideOpenWest Finance LLC/Capital Corp.
07/15/19	10.250%	335,000		368,500
Total				40,654,319
Media Non-Cable 1.1%
AMC Networks, Inc.
07/15/21	7.750%	1,141,000		1,283,625
12/15/22	4.750%	372,000		360,840
Clear Channel Communications, Inc. Senior Secured
03/01/21	9.000%	493,000		485,605

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Media Non-Cable (continued)
Clear Channel Worldwide Holdings, Inc.
03/15/20	7.625%	$	1,161,000	$	1,224,855
11/15/22	6.500%	780,000		815,100
DigitalGlobe, Inc. (a)
02/01/21	5.250%	327,000		309,015
Hughes Satellite Systems Corp.
06/15/21	7.625%	875,000		947,188
Intelsat Jackson Holdings SA
10/15/20	7.250%	2,168,000		2,346,860
Intelsat Luxembourg SA (a)
06/01/21	7.750%	276,000		290,490
06/01/23	8.125%	785,000		843,875
MDC Partners, Inc. (a)
04/01/20	6.750%	661,000		677,525
Midcontinent Communications & Finance Corp. (a)
08/01/21	6.250%	109,000		110,363
National CineMedia LLC Senior Secured
04/15/22	6.000%	574,000		599,830
News America, Inc.
12/15/35	6.400%	3,710,000		4,206,413
Nielsen Finance LLC/Co.
10/15/18	7.750%	10,345,000		11,250,187
Nielsen Finance LLC/Co. (a)
10/01/20	4.500%	13,788,000		13,581,180
Reed Elsevier Capital, Inc.
10/15/22	3.125%	12,905,000		11,955,024
Sirius XM Radio, Inc. Senior Unsecured (a)
05/15/23	4.625%	799,000		735,080
Univision Communications, Inc. (a)
05/15/21	8.500%	425,000		465,375
Senior Secured
11/01/20	7.875%	504,000		551,880
09/15/22	6.750%	551,000		592,325
05/15/23	5.125%	309,000		302,820
Total				53,935,455
Metals 1.5%
Alpha Natural Resources, Inc.
04/15/18	9.750%	310,000		319,300
ArcelorMittal
Senior Unsecured
02/25/15	4.250%	12,317,000		12,671,114
08/05/15	4.250%	14,468,000		14,902,040
10/15/39	7.500%	1,154,000		1,087,645
03/01/41	7.250%	4,352,000		4,031,040
Arch Coal, Inc. (a)
06/15/19	9.875%	815,000		753,875
CONSOL Energy, Inc.
03/01/21	6.375%	32,000		32,400

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Metals (continued)
Calcipar SA Senior Secured (a)
05/01/18	6.875%	$	690,000	$	714,150
FMG Resources August 2006 Proprietary Ltd. (a)
11/01/19	8.250%	983,000		1,032,150
FQM Akubra, Inc. (a)
06/01/20	8.750%	1,194,000		1,253,700
06/01/21	7.500%	149,000		149,000
JMC Steel Group, Inc. Senior Notes (a)
03/15/18	8.250%	528,000		525,360
Nucor Corp.
Senior Unsecured
09/15/22	4.125%	3,215,000		3,283,958
08/01/23	4.000%	30,530,000		30,052,175
Peabody Energy Corp.
11/15/21	6.250%	592,000		580,160
Rio Tinto Finance USA PLC
08/21/22	2.875%	3,875,000		3,562,594
Total				74,950,661
Non-Captive Consumer 0.8%
Discover Financial Services
Senior Unsecured
04/27/22	5.200%	3,367,000		3,532,037
11/21/22	3.850%	8,030,000		7,670,047
HSBC Finance Capital Trust IX (b)
11/30/35	5.911%	8,013,000		8,173,260
HSBC Finance Corp. Subordinated Notes
01/15/21	6.676%	17,645,000		19,951,290
Provident Funding Associates LP/PFG Finance Corp. (a)
06/15/21	6.750%	280,000		283,500
Springleaf Finance Corp. Senior Unsecured
12/15/17	6.900%	518,000		519,295
Total				40,129,429
Non-Captive Diversified 0.7%
Air Lease Corp.
03/01/20	4.750%	997,000		987,030
CIT Group, Inc. (a)
Senior Unsecured
02/15/19	5.500%	2,851,000		3,007,805
CIT Group, Inc. (g)
Senior Unsecured
08/01/23	5.000%	225,000		220,594
General Electric Capital Corp.
Senior Unsecured
09/07/22	3.150%	18,360,000		17,350,329
General Electric Capital Corp. (b)
Subordinated Notes
11/15/67	6.375%	10,808,000		11,510,520

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Non-Captive Diversified (continued)
International Lease Finance Corp.
Senior Unsecured
04/15/18	3.875%	$	92,000	$	89,585
12/15/20	8.250%	2,641,000		3,056,957
Total				36,222,820
Oil Field Services 0.2%
Atwood Oceanics, Inc. Senior Unsecured
02/01/20	6.500%	1,896,000		2,019,240
Green Field Energy Services, Inc. (a)
Secured
11/15/16	13.250%	1,276,000		1,301,520
11/15/16	13.250%	31,000		31,620
Offshore Group Investments Ltd. Senior Secured (a)
04/01/23	7.125%	100,000		100,250
Oil States International, Inc. (a)
01/15/23	5.125%	408,000		448,800
Pacific Drilling SA Senior Secured (a)
06/01/20	5.375%	780,000		764,400
Weatherford International Ltd.
03/15/38	7.000%	6,415,000		6,917,596
Total				11,583,426
Other Financial Institutions —%
Patriot Merger Corp. Senior Unsecured (a)
07/15/21	9.000%	226,000		231,085
Other Industry 0.8%
CBRE Services, Inc.
03/15/23	5.000%	266,000		255,360
Interline Brands, Inc.
11/15/18	7.500%	710,000		745,500
Memorial Sloan-Kettering Cancer Center Senior Unsecured
07/01/52	4.125%	16,955,000		14,407,935
President and Fellows of Harvard College
Senior Notes
10/15/40	4.875%	8,205,000		8,744,896
President and Fellows of Harvard College (a)
01/15/39	6.500%	9,860,000		13,038,460
Unifrax I LLC/Holding Co. (a)
02/15/19	7.500%	437,000		449,018
Total				37,641,169

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Packaging 0.1%
Ardagh Packaging Finance PLC/MP Holdings U.S.A., Inc. Senior Unsecured (a)
11/15/20	7.000%	$	869,000	$	851,620
BOE Intermediate Holding Corp. Senior Unsecured PIK (a)
11/01/17	9.000%	169,000		174,070
Reynolds Group Issuer, Inc. LLC Senior Secured
10/15/20	5.750%	621,000		631,867
Reynolds Group Issuer, Inc./LLC
08/15/19	9.875%	1,137,000		1,227,960
02/15/21	8.250%	149,000		151,608
Senior Secured
08/15/19	7.875%	576,000		633,600
Total				3,670,725
Paper —%
Graphic Packaging International, Inc.
04/15/21	4.750%	610,000		596,275
Pharmaceuticals 0.8%
Jaguar Holding Co. II/Merger Sub, Inc. Senior Unsecured (a)
12/01/19	9.500%	312,000		354,120
Johnson & Johnson Senior Unsecured
05/15/41	4.850%	8,478,000		9,251,278
Merck & Co., Inc.
Senior Unsecured
09/15/22	2.400%	14,775,000		13,754,225
09/15/42	3.600%	11,215,000		9,610,313
Roche Holdings, Inc. (a)
03/01/19	6.000%	4,926,000		5,859,472
VPII Escrow Corp. (a)
Senior Unsecured
08/15/18	6.750%	437,000		461,035
07/15/21	7.500%	625,000		670,313
Valeant Pharmaceuticals International (a)
10/15/20	6.375%	1,136,000		1,175,760
Total				41,136,516
Property & Casualty 0.7%
Alliant Holdings, Inc. Senior Unsecured (a)
12/15/20	7.875%	535,000		545,700
HUB International Ltd. (a)
10/15/18	8.125%	518,000		550,375
Liberty Mutual Group, Inc. (a)
05/01/22	4.950%	6,775,000		7,020,926
05/01/42	6.500%	9,570,000		10,667,143
Senior Unsecured
03/15/35	6.500%	3,375,000		3,692,348

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Property & Casualty (continued)
Transatlantic Holdings, Inc. Senior Unsecured
11/30/39	8.000%	$	9,095,000	$	11,530,322
Total				34,006,814
Railroads 0.6%
BNSF Funding Trust I (b)
12/15/55	6.613%	15,761,000		18,046,345
CSX Corp. Senior Unsecured
05/30/42	4.750%	7,040,000		6,819,500
Union Pacific Corp. Senior Unsecured
08/15/18	5.700%	5,897,000		6,876,934
Total				31,742,779
Refining 0.1%
Marathon Petroleum Corp. Senior Unsecured
03/01/41	6.500%	4,800,000		5,453,213
REITs 1.0%
Boston Properties LP Senior Unsecured
05/15/21	4.125%	14,272,000		14,733,357
CyrusOne LP/Finance Corp.
11/15/22	6.375%	691,000		725,550
Duke Realty LP
02/15/15	7.375%	4,125,000		4,492,360
08/15/19	8.250%	7,140,200		8,928,656
06/15/22	4.375%	7,440,000		7,403,923
Simon Property Group LP Senior Unsecured
02/01/23	2.750%	13,235,000		12,303,759
Total				48,587,605
Restaurants 0.3%
McDonald’s Corp. Senior Unsecured
05/01/43	3.625%	19,570,000		17,167,816
Retailers 0.9%
Amazon.com, Inc. Senior Unsecured
11/29/22	2.500%	11,990,000		11,004,446
Burlington Coat Factory Warehouse Corp.
02/15/19	10.000%	668,000		746,490
Burlington Holdings LLC/Finance, Inc. Senior Unsecured PIK (a)
02/15/18	9.000%	596,000		615,370

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Retailers (continued)
Claire’s Stores, Inc. Senior Secured (a)
03/15/20	6.125%	$	260,000	$	263,900
Jo-Ann Stores, Inc. Senior Unsecured (a)
03/15/19	8.125%	592,000		608,280
L Brands, Inc.
04/01/21	6.625%	659,000		724,900
Macy’s Retail Holdings, Inc.
07/15/27	6.790%	19,865,000		22,413,084
03/15/37	6.375%	3,925,000		4,400,996
Michaels FinCo Holdings LLC/Inc. Senior Unsecured PIK (a)
08/01/18	7.500%	913,000		917,565
Rite Aid Corp.
03/15/20	9.250%	192,000		213,840
Senior Unsecured
02/15/27	7.700%	234,000		238,095
Rite Aid Corp. (a)
06/15/21	6.750%	80,000		80,200
Sally Holdings LLC/Capital, Inc.
06/01/22	5.750%	396,000		411,840
Total				42,639,006
Supermarkets 0.9%
Kroger Co. (The)
12/15/18	6.800%	8,762,000		10,417,650
06/01/29	7.700%	8,250,000		10,275,994
Safeway, Inc. Senior Unsecured
02/01/31	7.250%	24,015,000		26,051,976
Total				46,745,620
Technology 0.9%
Alliance Data Systems Corp. (a)
12/01/17	5.250%	546,000		570,570
04/01/20	6.375%	535,000		561,750
Amkor Technology, Inc. Senior Unsecured
06/01/21	6.625%	287,000		289,153
Brocade Communications Systems, Inc. Senior Secured
01/15/20	6.875%	249,000		264,563
CDW LLC/Finance Corp.
04/01/19	8.500%	344,000		377,540
CommScope Holdings Co., Inc. Senior Unsecured PIK (a)
06/01/20	6.625%	329,000		327,355
Equinix, Inc.
Senior Unsecured
04/01/20	4.875%	260,000		257,400
07/15/21	7.000%	290,000		317,550
First Data Corp.

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Technology (continued)
01/15/21	12.625%	$	530,000	$	581,012
First Data Corp. (a)
01/15/21	11.250%	280,000		289,800
06/15/21	10.625%	450,000		456,750
08/15/21	11.750%	225,000		214,875
Secured
01/15/21	8.250%	1,138,000		1,189,210
Senior Secured
08/15/20	8.875%	538,000		589,110
11/01/20	6.750%	717,000		743,887
Microsoft Corp. Senior Unsecured
11/15/22	2.125%	4,300,000		3,940,090
NXP BV/Funding LLC (a)
06/01/18	3.750%	1,065,000		1,049,025
02/15/21	5.750%	610,000		626,775
Nuance Communications, Inc. (a)
08/15/20	5.375%	834,000		813,150
Oracle Corp.
Senior Unsecured
10/15/22	2.500%	23,423,000		21,781,633
07/15/23	3.625%	6,960,000		7,036,358
VeriSign, Inc. (a)
05/01/23	4.625%	440,000		422,400
Total				42,699,956
Textile —%
Quiksilver Inc./QS Wholesale Inc. Senior Secured (a)
08/01/18	7.875%	45,000		47,025
Transportation Services 0.2%
Avis Budget Car Rental LLC/Finance, Inc.
01/15/19	8.250%	844,000		922,070
ERAC U.S.A. Finance LLC (a)
10/01/20	5.250%	4,550,000		5,006,620
10/15/37	7.000%	3,569,000		4,277,422
Hertz Corp. (The)
10/15/18	7.500%	451,000		490,462
01/15/21	7.375%	417,000		458,700
LBC Tank Terminals Holding Netherlands BV (a)
05/15/23	6.875%	550,000		565,125
Total				11,720,399
Wireless 0.3%
Crown Castle International Corp. Senior Unsecured
01/15/23	5.250%	834,000		802,725
MetroPCS Wireless, Inc. (a)
04/01/23	6.625%	442,000		451,945
NII International Telecom SCA (a)
08/15/19	7.875%	458,000		439,680
08/15/19	11.375%	2,072,000		2,274,020

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Wireless (continued)
SBA Telecommunications, Inc.
07/15/20	5.750%	$	1,248,000	$	1,276,080
Softbank Corp. (a)
04/15/20	4.500%	889,000		860,108
Sprint Communications, Inc.
Senior Unsecured
08/15/20	7.000%	464,000		488,940
11/15/21	11.500%	292,000		388,360
11/15/22	6.000%	2,103,000		2,024,137
Sprint Communications, Inc. (a)
11/15/18	9.000%	1,875,000		2,231,250
03/01/20	7.000%	220,000		239,800
United States Cellular Corp. Senior Unsecured
12/15/33	6.700%	3,920,000		3,828,276
Wind Acquisition Finance SA Senior Secured (a)
04/30/20	6.500%	1,145,000		1,167,900
Total				16,473,221
Wirelines 3.4%
AT&T, Inc. Senior Unsecured
12/01/22	2.625%	36,625,000		33,452,945
CenturyLink, Inc. Senior Unsecured
06/15/21	6.450%	8,487,000		8,953,785
Embarq Corp. Senior Unsecured
06/01/36	7.995%	8,537,000		8,960,529
Frontier Communications Corp.
Senior Unsecured
04/15/22	8.750%	547,000		603,067
01/15/23	7.125%	692,000		685,080
04/15/24	7.625%	897,000		905,970
Level 3 Communications, Inc.
Senior Unsecured
02/01/19	11.875%	612,000		705,330
06/01/19	8.875%	381,000		410,528
Level 3 Financing, Inc.
04/01/19	9.375%	784,000		870,240
07/15/20	8.625%	220,000		242,000
Telecom Italia Capital SA
06/04/18	6.999%	17,625,000		19,467,465
07/18/36	7.200%	8,940,000		8,662,270
Telefonica Emisiones SAU
06/20/16	6.421%	7,565,000		8,321,697
07/03/17	6.221%	4,455,000		4,906,104
04/27/18	3.192%	18,790,000		18,562,416
04/27/20	5.134%	3,325,000		3,416,181
02/16/21	5.462%	17,281,000		18,003,992
Verizon Communications, Inc. Senior Unsecured
11/01/22	2.450%	10,060,000		9,088,184

Issuer	Coupon Rate	Principal Amount		Value
Corporate Bonds & Notes (continued)
Wirelines (continued)
Verizon New England, Inc.
11/15/29	7.875%	$	3,893,000	$	4,766,519
Verizon New York, Inc.
04/01/32	7.375%	9,717,000		11,703,262
Verizon Virginia LLC
10/01/29	8.375%	4,655,000		5,553,378
Windstream Corp.
08/01/23	6.375%	453,000		430,350
Zayo Group LLC/Capital, Inc.
07/01/20	10.125%	623,000		711,777
Total				169,383,069
Total Corporate Bonds & Notes (Cost: $2,169,843,396)				$	2,166,092,361
Residential Mortgage-Backed Securities - Agency 17.3%
Federal Home Loan Mortgage Corp. (g)(h)
06/01/43	3.500%	18,500,000		18,627,346
Federal Home Loan Mortgage Corp. (h)
06/01/41	4.500%	21,781,180		23,159,615
04/01/33-06/01/33	5.500%	3,129,749		3,480,489
10/01/31-07/01/37	6.000%	4,490,009		5,134,852
10/01/28-07/01/32	7.000%	1,409,378		1,632,604
01/01/17-02/01/25	8.000%	129,267		151,114
03/01/17-11/01/26	8.500%	128,927		149,416
04/01/21	9.000%	6,483		7,114
07/01/20	12.000%	4,501		4,600
Federal National Mortgage Association (b)(h)
06/01/32	1.790%	4,311		4,472
08/01/36	2.324%	26,821		26,906
07/01/37	6.019%	166,546		181,235
Federal National Mortgage Association (g)(h)
08/01/43	3.000%	131,225,000		127,185,737
08/01/43	3.500%	128,375,000		129,418,047
Federal National Mortgage Association (h)
05/01/43	3.500%	13,563,496		13,696,488
01/01/41-06/01/42	4.000%	160,757,965		167,320,212
05/01/39-07/01/41	4.500%	78,710,608		83,830,361
08/01/40-05/01/41	5.000%	30,697,735		33,563,897
03/01/33-01/01/40	5.500%	24,762,582		27,178,111
01/01/14-08/01/38	6.000%	32,998,850		36,624,807
03/01/26-07/01/38	7.000%	4,270,398		4,900,831

Issuer	Coupon Rate	Principal Amount		Value
Residential Mortgage-Backed Securities - Agency (continued)
04/01/27-06/01/32	7.500%	$	446,652	$	516,512
02/01/25-08/01/27	8.000%	209,736		248,297
04/01/23	8.500%	47,976		52,465
06/01/24	9.000%	51,387		58,052
09/01/18	10.000%	23,119		26,177
CMO Series 1988-4 Class Z
03/25/18	9.250%	24,739		27,374
Federal National Mortgage Association (h)(i)
CMO PO STRIPS Series 43 Class 1
09/01/18	0.000%	2,666		2,628
Federal National Mortgage Association (h)(j)
12/01/40-09/01/41	4.000%	56,266,339		58,561,967
Federal National Mortgage Association (h)(k)
CMO IO Series 2003-71 Class IM
12/25/31	5.500%	386,571		22,467
Government National Mortgage Association (b)(h)
07/20/25	1.750%	35,767		37,118
Government National Mortgage Association (g)(h)
05/15/42	3.000%	20,614,720		20,228,894
08/01/43	3.500%	60,750,000		61,851,094
Government National Mortgage Association (h)
03/15/41-06/15/41	4.500%	36,322,836		38,905,866
01/15/30	7.000%	402,188		475,610
12/15/23-07/20/28	7.500%	472,652		528,493
05/15/17	8.000%	2,873		3,071
02/15/25	8.500%	42,950		50,841
06/15/16-10/15/16	9.000%	1,981		2,083
Total Residential Mortgage-Backed Securities - Agency (Cost: $849,400,659)				$	857,877,263
Residential Mortgage-Backed Securities - Non-Agency 4.8%
American General Mortgage Loan Trust (a)(b)(h)
CMO Series 2009-1 Class A7
09/25/48	5.750%	17,512,411		17,980,343
CMO Series 2010-1A Class A1
03/25/58	5.150%	1,134,976		1,148,005
American Mortgage Trust Series 2093-3 Class 3A (c)(e)(h)
07/27/23	8.188%	3,890		2,358
BCAP LLC Trust (a)(b)(e)(h)
09/26/36	3.500%	16,462,779		16,864,142
CMO Series 2013-RR5 Class 1A1
10/26/36	3.500%	14,490,830		14,816,874
BCAP LLC Trust (a)(b)(h)
CMO Series 2012-RR10 Class 5A5
04/26/36	0.458%	16,061,310		15,490,811
BCAP LLC Trust (a)(e)(h)
08/26/36	0.328%	6,609,842		6,221,514

Issuer	Coupon Rate	Principal Amount		Value
Residential Mortgage-Backed Securities - Non-Agency (continued)
01/26/37	0.378%	$	10,146,640	$	9,499,791
BCAP LLC (a)(b)(e)(h)
05/26/47	0.400%	6,307,661		5,613,818
CMO Series 2013-RR3 Class 2A1
02/26/37	2.516%	4,905,462		4,788,957
Series 2013-RR2 Class 7A1
07/26/36	3.000%	7,970,948		7,831,456
BNPP Mortgage Securities LLC CMO Series 2009-1 Class A1 (a)(h)
08/27/37	6.000%	3,133,587		3,293,116
Banc of America Funding Corp. CMO Series 2012-R5 Class A (a)(b)(h)
10/03/39	0.455%	11,193,436		10,925,785
Bayview Opportunity Master Fund Trust IIB LP (a)(b)(h)
CMO Series 2012-6NPL Class A
01/28/33	2.981%	3,882,149		3,882,149
Series 2012-4NPL Class A
07/28/32	3.475%	2,369,472		2,372,478
Citigroup Mortgage Loan Trust, Inc. (a)(b)(h)
CMO Series 2012-7 Class 12A1
03/25/36	2.640%	4,158,584		4,263,954
CMO Series 2012-9 Class 1A1
02/20/36	5.142%	8,656,659		8,673,166
CMO Series 2013-2 Class 1A1
11/25/37	5.967%	9,795,770		10,260,922
Citigroup Mortgage Loan Trust, Inc. (a)(h)
CMO Series 2012-A Class A
06/25/51	2.500%	7,056,490		6,844,796
Credit Suisse Mortgage Capital Certificates (a)(b)(h)
CMO Series 2010-12R Class 13A1
12/26/37	2.900%	896,019		895,060
CMO Series 2011-16R Class 7A3
12/27/36	3.500%	3,430,547		3,492,468
CMO Series 2011-17R Class 2A1
12/27/37	3.400%	3,693,171		3,725,446
CMO Series 2011-17R Class 3A1
10/27/35	2.426%	13,727,703		13,846,577
CMO Series 2012-4R Class 8A1
06/27/47	2.822%	4,604,280		4,591,333
GCAT Series 2013-RP1 Class A1 (a)(e)(h)
06/28/18	3.500%	8,100,000		7,923,226
Jefferies & Co., Inc. CMO Series 2010-R7 Class 7A4 (a)(b)(h)
10/26/36	3.250%	1,770,304		1,724,491
Morgan Stanley Re-Remic Trust (a)(b)(h)
CMO Series 2012-R2 Class 1A
11/26/36	0.350%	4,914,659		4,744,022
CMO Series 2013-R1 Class 4A
12/26/36	2.370%	7,191,733		7,358,481
CMO Series 2013-R2 Class 1A
10/26/36	4.563%	16,188,731		15,945,900
Nomura Asset Acceptance Corp. (b)(h)
CMO Series 2007-1 Class 1A3 (AGM)
03/25/47	5.957%	519,859		519,491

Issuer	Coupon Rate	Principal Amount		Value
Residential Mortgage-Backed Securities - Non-Agency (continued)
CMO Series 2007-1 Class 1A4 (AGM)
03/25/47	6.138%	$	3,293,745	$	3,290,919
Nomura Resecuritization Trust CMO Series 2012-3R Class 1A1 (a)(b)(h)
01/26/37	0.366%	6,614,257		6,020,331
Residential Mortgage Asset Trust Series 2012-1A Class A1 (a)(b)(h)
08/26/52	2.730%	4,348,698		4,265,801
Sequoia Mortgage Trust CMO Series 2004-6 Class B2 (b)(h)
07/20/34	1.512%	1,636,862		654,511
Springleaf Mortgage Loan Trust CMO Series 2012-1A Class A (a)(b)(h)
09/25/57	2.667%	4,587,912		4,675,830
Structured Asset Securities Corp. CMO Series 2004-21XS Class 2A6A (b)(h)
12/25/34	4.740%	866,966		875,896
VOLT LLC Series 2012-RP3A Class A1 (a)(b)(h)
11/27/17	3.475%	2,244,752		2,246,870
Total Residential Mortgage-Backed Securities - Non-Agency (Cost: $239,346,420)				$	237,571,088
Commercial Mortgage-Backed Securities - Non-Agency 8.5%
Bear Stearns Commercial Mortgage Securities (b)(h)
Series 2005-T20 Class A4A
10/12/42	5.143%	6,038,000		6,496,985
Series 2006-PW12 Class AAB
09/11/38	5.690%	222,385		222,363
Citigroup Commercial Mortgage Trust Series 2006-C5 Class A4 (h)
10/15/49	5.431%	5,083,000		5,624,187
Citigroup/Deutsche Bank Commercial Mortgage Trust (b)(h)
Series 2005-CD1 Class A4
07/15/44	5.218%	5,855,000		6,295,173
Citigroup/Deutsche Bank Commercial Mortgage Trust (h)
Series 2007-CD4 Class A4
12/11/49	5.322%	25,042,000		27,609,962
Commercial Mortgage Pass-Through Certificates Series 2013-LC6 Class A2 (h)
01/10/46	1.906%	2,285,000		2,268,130
Credit Suisse Commercial Mortgage Trust Series 2006-C3 Class A3 (b)(h)
06/15/38	5.798%	9,722,887		10,694,923
Credit Suisse First Boston Mortgage Securities Corp. Series 2004-C2 Class A1 (h)
05/15/36	3.819%	106,799		107,285
Credit Suisse Mortgage Capital Certificates Series 2010-RR4 Class 2A (a)(b)(h)
09/18/39	5.467%	6,051,153		6,669,544

Issuer	Coupon Rate	Principal Amount		Value
Commercial Mortgage-Backed Securities - Non-Agency (continued)
DBRR Trust (a)(h)
Series 2012-EZ1 Class A
09/25/45	1.393%	$	2,238,000	$	2,240,105
09/25/45	2.062%	9,895,675		9,923,927
DBRR Trust (a)(h)
Series 2012-EZ1 Class A
09/25/45	0.946%	4,136,387		4,143,357
GE Capital Commercial Mortgage Corp. Series 2005-C1 Class A5 (b)(h)
06/10/48	4.772%	1,278,000		1,343,900
GMAC Commercial Mortgage Securities, Inc. CMO IO Series 1997-C1 Class X (b)(h)(k)
07/15/29	1.269%	3,846,353		106,036
GS Mortgage Securities Corp. II (b)(h)
Series 2007-GG10 Class A4
08/10/45	5.799%	13,390,000		14,909,055
GS Mortgage Securities Corp. II (h)
Series 2005-GG4 Class A4A
07/10/39	4.751%	9,838,500		10,318,550
Series 2012-GCJ7 Class A2
05/10/45	2.318%	4,555,000		4,648,491
GS Mortgage Securities Trust Series 2013-GC13 Class A5 (b)(h)
07/10/46	4.175%	8,720,000		8,983,771
General Electric Capital Assurance Co. (a)(b)(h)
Series 2003-1 Class A4
05/12/35	5.254%	1,889,331		1,975,547
Series 2003-1 Class A5
05/12/35	5.743%	3,346,000		3,855,432
Greenwich Capital Commercial Funding Corp. (b)(h)
Series 2005-GG5 Class AM
04/10/37	5.277%	17,575,000		18,714,475
Series 2006-GG7 Class AM
07/10/38	5.860%	7,760,000		8,505,123
Greenwich Capital Commercial Funding Corp. (h)
Series 2007-GG11 Class A4
12/10/49	5.736%	23,540,000		26,405,091
Series 2007-GG9 Class A4
03/10/39	5.444%	12,155,000		13,474,595
JPMorgan Chase Commercial Mortgage Securities Corp. (b)(h)
Series 2006-LDP6 Class ASB
04/15/43	5.490%	3,734,024		3,871,246
Series 2007-CB19 Class A4
02/12/49	5.711%	5,060,000		5,673,343
JPMorgan Chase Commercial Mortgage Securities Trust (b)(h)
Series 2005-LDP3 Class ASB
08/15/42	4.893%	3,046,633		3,148,119
JPMorgan Chase Commercial Mortgage Securities Trust (h)
Series 2004-LN2 Class A1
07/15/41	4.475%	497,665		496,992
Series 2005-LDP2 Class A3
07/15/42	4.697%	978,276		977,904
LB-UBS Commercial Mortgage Trust (b)(h)
Series 2006-C4 Class AM
06/15/38	5.884%	2,585,000		2,852,617
Series 2007-C7 Class A3
09/15/45	5.866%	9,675,141		10,801,568

Issuer	Coupon Rate	Principal Amount		Value
Commercial Mortgage-Backed Securities - Non-Agency (continued)
LB-UBS Commercial Mortgage Trust (h)
Series 2004-C2 Class A3
03/15/29	3.973%	$	529,258	$	530,891
Series 2005-C3 Class A5
07/15/30	4.739%	11,381,000		11,944,724
Series 2006-C1 Class A2
02/15/31	5.084%	21,894		21,904
Series 2006-C1 Class A4
02/15/31	5.156%	5,278,000		5,698,472
Series 2007-C2 Class A3
02/15/40	5.430%	26,050,108		28,740,511
Merrill Lynch Mortgage Investors, Inc. CMO IO Series 1998-C3 Class IO (b)(h)(k)
12/15/30	0.847%	6,384,963		94,491
Merrill Lynch/Countrywide Commercial Mortgage Trust Series 2007-6 Class A4 (b)(h)
03/12/51	5.485%	18,415,000		20,350,895
Morgan Stanley Capital I Trust Series 2012-C4 Class A4 (h)
03/15/45	3.244%	3,910,000		3,849,214
Morgan Stanley Capital I, Inc. (b)(h)
Series 2007-IQ15 Class A4
06/11/49	5.893%	31,080,000		35,036,018
Morgan Stanley Capital I, Inc. (h)
Series 2007-IQ16 Class A4
12/12/49	5.809%	4,664,000		5,282,754
Morgan Stanley Re-Remic Trust (a)(b)(h)
Series 2009-GG10 Class A4B
08/12/45	5.799%	8,685,000		9,545,345
Series 2010-GG10 Class A4A
08/15/45	5.799%	32,609,000		36,487,091
ORES NPL LLC Series 2012-LV1 Class A (a)(h)
09/25/44	4.000%	789,566		789,258
RIAL (a)(h)
06/20/28	2.500%	4,192,780		4,192,780
Rialto Real Estate Fund Series 2013-LT2 Class A (a)(h)
05/22/28	2.833%	3,741,388		3,735,477
S2 Hospitality LLC Series 2012-LV1 Class A (a)(h)
04/15/25	4.500%	1,890,750		1,887,738
SMA 1 LLC Series 2012-LV1 Class A (a)(h)
08/20/25	3.500%	1,175,916		1,177,266
TIAA Seasoned Commercial Mortgage Trust Series 2007-C4 Class A3 (b)(h)
08/15/39	5.528%	1,342,320		1,398,856
WF-RBS Commercial Mortgage Trust (h)
Series 2012-C6 Class A2
04/15/45	2.191%	4,000,000		4,076,644
Series 2013-C11 Class A2
03/15/45	2.029%	6,690,000		6,696,705
Wachovia Bank Commercial Mortgage Trust (b)(h)

Issuer	Coupon Rate	Principal Amount		Value
Commercial Mortgage-Backed Securities - Non-Agency (continued)
Series 2006-C24 Class A3
03/15/45	5.558%	$	5,003,000	$	5,432,448
Series 2006-C27 Class AM
07/15/45	5.795%	5,935,000		6,513,597
Wachovia Bank Commercial Mortgage Trust (h)
Series 2005-C17 Class APB
03/15/42	5.037%	3,233,842		3,247,560
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost: $417,196,957)				$	420,088,435
Asset-Backed Securities - Agency 1.5%
Small Business Administration Participation Certificates
Series 2013-20A Class 1
01/01/33	2.130%	5,080,786		4,807,270
Series 2013-20B Class 1
02/01/33	2.210%	23,055,000		22,067,501
Series 2013-20C Class 1
03/01/33	2.220%	17,380,000		16,616,766
Series 2013-20D Class 1
04/01/33	2.080%	19,495,000		18,435,106
Series 2013-20F Class 1
06/01/33	2.450%	11,025,000		10,655,661
Total Asset-Backed Securities - Agency (Cost: $76,261,772)				$	72,582,304
Asset-Backed Securities - Non-Agency 5.0%
ARES XXVI CLO Ltd. Series 2013-1A Class A (a)(b)
04/15/25	1.410%	35,125,000		34,914,601
Ally Master Owner Trust Series 2012-5 Class A
09/15/19	1.540%	4,435,000		4,384,716
Atrium X (a)(b)
Series 10A Class A
07/16/25	1.396%	32,750,000		32,687,939
Series 10A Class B1
07/16/25	1.926%	5,000,000		4,935,430
Carlyle Global Market Strategies Series 2013-2A Class A1 (a)(b)
04/18/25	1.416%	22,265,000		22,264,956
Citicorp Residential Mortgage Securities, Inc. Series 2007-2 Class A3 (b)
06/25/37	5.989%	3,450,345		3,497,877
Citigroup Mortgage Loan Trust, Inc. Series 2005-WF2 Class MF1 (b)
08/25/35	5.517%	3,221,986		138,703
Conseco Financial Corp. Series 1997-6 Class A10
01/15/29	6.870%	470,222		499,123

Issuer	Coupon Rate	Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
Contimortgage Home Equity Trust Series 1996-4 Class A9 (NPFGC)
01/15/28	6.880%	$	38,830	$	37,567
Countrywide Asset-Backed Certificates (b)
Series 2007-S2 Class A3 (NPFGC)
05/25/37	5.813%	2,496,645		2,387,277
Series 2007-S2 Class A6 (NPFGC)
05/25/37	5.779%	4,888,913		4,794,048
First Alliance Mortgage Loan Trust Series 1994-2 Class A1 (NPFGC)
07/25/25	7.625%	333,199		343,917
Ford Credit Auto Owner Trust Series 2010-A Class D
10/15/16	4.050%	7,000,000		7,226,905
GE Equipment Small Ticket LLC Series 2011-1A Class A3 (a)
01/21/18	1.450%	1,728,013		1,731,113
ING Investment Management CLO V Ltd. Series 2007-5A Class A1A (a)(b)
05/01/22	0.495%	22,000,000		21,294,130
JPMorgan Mortgage Acquisition Corp. Series 2007-CH2 Class AV2 (b)
01/25/37	0.260%	592,756		586,824
Mountain View CLO III Ltd. Series 2007-3A Class A1 (a)(b)
04/16/21	0.483%	23,465,726		22,825,722
Nomad CLO Ltd. Series 2013-1A Class A1 (a)(b)
01/15/25	1.468%	25,790,000		25,584,866
OHA Credit Partners VIII Ltd. (a)(b)
Series 2013-8A Class A
04/20/25	1.395%	10,100,000		10,037,168
Series 2013-8A Class B
04/20/25	1.925%	8,080,000		8,005,139
Race Point VIII CLO Ltd. Series 2013-8A Class A (a)(b)
02/20/25	1.524%	20,800,000		20,754,843
Renaissance Home Equity Loan Trust Series 2005-3 Class M2 (b)
11/25/35	5.355%	4,750,000		697,058
SMART Trust Series 2012-1USA Class A4A (a)
12/14/17	2.010%	5,376,000		5,322,474
SVO VOI Mortgage Corp. Series 2012-AA Class A (a)
09/20/29	2.000%	6,405,525		6,405,076
Sierra Receivables Funding Co. LLC Series 2012-3A Class A (a)
08/20/29	1.870%	6,489,914		6,513,178
Total Asset-Backed Securities - Non-Agency (Cost: $254,525,135)				$	247,870,650

Issuer	Coupon Rate	Principal Amount		Value
Inflation-Indexed Bonds 0.2%
United States 0.2%
U.S. Treasury Inflation-Indexed Bond
02/15/43	0.625%	$	11,613,298	$	9,633,591
Total Inflation-Indexed Bonds (Cost: $10,210,394)				$	9,633,591
U.S. Treasury Obligations 11.6%
U.S. Treasury
05/15/43	2.875%	4,500,000		3,872,813
U.S. Treasury (g)
07/31/15	0.250%	15,564,400		15,544,944
07/31/18	1.375%	44,208,000		44,173,474
07/31/20	2.000%	24,092,000		24,063,764
U.S. Treasury (l)
STRIPS
11/15/18	0.000%	70,525,000		65,071,513
11/15/19	0.000%	66,677,000		59,289,388
02/15/40	0.000%	82,334,000		30,295,125
U.S. Treasury (l)(m)
STRIPS
11/15/18	0.000%	230,841,000		212,873,260
U.S. Treasury (m)
05/15/23	1.750%	64,995,300		60,283,141
02/15/43	3.125%	67,579,100		61,370,270
Total U.S. Treasury Obligations (Cost: $583,057,238)				$	576,837,692
U.S. Government & Agency Obligations 0.3%
Residual Funding Corp. STRIPS (l)
10/15/20	0.000%	18,445,000		15,536,869
Total U.S. Government & Agency Obligations (Cost: $16,346,831)				$	15,536,869
Foreign Government Obligations 1.0%
BRAZIL 0.1%
Brazilian Government International Bond Senior Unsecured
01/07/41	5.625%	5,814,000		5,697,720
CHILE 0.1%
Chile Government International Bond Senior Unsecured
10/30/22	2.250%	2,900,000		2,581,000

Issuer	Coupon Rate	Principal Amount		Value
Foreign Government Obligations (continued)
COLOMBIA 0.2%
Colombia Government International Bond Senior Unsecured
01/18/41	6.125%	$	10,975,000	$	12,080,459
ITALY 0.1%
Republic of Italy Senior Unsecured
09/27/23	6.875%	5,040,000		5,714,352
MEXICO 0.2%
Mexico Government International Bond
Senior Unsecured
03/15/22	3.625%	5,950,000		5,890,500
03/08/44	4.750%	2,530,000		2,327,600
Total				8,218,100
POLAND 0.1%
Poland Government International Bond Senior Unsecured
03/23/22	5.000%	5,750,000		6,166,875
QATAR 0.2%
Nakilat, Inc. Senior Secured (a)
12/31/33	6.067%	7,065,000		7,594,875
Total Foreign Government Obligations (Cost: $49,770,424)				$	48,053,381

Issue Description	Coupon Rate	Principal Amount		Value
Municipal Bonds 1.5%
California 0.3%
Los Angeles Unified School District Unlimited General Obligation Bonds Build America Bonds Series 2009
07/01/34	5.750%	$	11,150,000	$	12,611,208
Georgia 0.2%
State of Georgia Unlimited General Obligation Refunding Bonds Series 2013C
10/01/23	4.000%	9,400,000		10,314,056

Issue Description	Coupon Rate	Principal Amount		Value
Municipal Bonds (continued)
Illinois —%
City of Chicago Waterworks Revenue Bonds Build America Bonds Series 2010
11/01/40	6.742%	$	1,520,000	$	1,806,687
Kentucky 0.6%
Kentucky Asset Liability Commission Revenue Bonds Taxable Series 2010
04/01/18	3.165%	27,745,822		28,785,180
Massachusetts 0.1%
Commonwealth of Massachusetts Revenue Bonds Build America Bonds-Recovery Series 2010Z
06/01/30	5.631%	5,595,000		6,187,622
Ohio 0.3%
JobsOhio Beverage System
Taxable Revenue Bonds
Series 2013-B
01/01/29	3.985%	9,090,000		8,487,151
Series 2013-B
01/01/35	4.532%	8,565,000		8,191,395
Total				16,678,546
Total Municipal Bonds (Cost: $74,714,552)				$	76,383,299

Issuer	Coupon Rate	Principal Amount		Value
Preferred Debt 3.1%
Banking 2.6%
Citigroup Capital XIII (b)
10/30/40	7.875%	$	1,743,095	$	47,935,113
HSBC Holdings PLC
12/31/49	8.000%	526,100		14,325,703
M&T Bank Corp. (b)
12/31/49	5.000%	16,850		17,102,750
12/31/49	5.000%	1,660		1,701,500
PNC Financial Services Group, Inc. (The) (b)
12/31/49	6.125%	690,980		18,138,225
Synovus Financial Corp. (b)
06/15/17	7.875%	182,400		4,725,984
U.S. Bancorp (b)
12/31/49	6.500%	596,950		16,081,833

Issuer	Coupon Rate	Principal Amount		Value
Preferred Debt (continued)
Banking (continued)
Wells Fargo & Co. (b)
12/31/49	5.850%	$	475,000	$	11,651,750
Total				131,662,858
Building Materials 0.3%
Stanley Black & Decker, Inc.
07/25/52	5.750%	598,200		14,524,296
Property & Casualty 0.2%
Allstate Corp. (The) (b)
01/15/53	5.100%	324,450		8,150,184
Total Preferred Debt (Cost: $152,350,765)				$	154,337,338
Borrower	Weighted Average Coupon	Principal Amount		Value
Senior Loans 0.6%
Automotive —%
Affinia Group, Inc. Tranche B2 Term Loan (b)(n)
04/25/20	4.750%	$	237,000	$	239,519
Brokerage —%
Nuveen Investments, Inc. 2nd Lien Tranche B Term Loan (b)(n)
02/28/19	6.500%	595,000		594,256
Chemicals —%
Axalta Coating Systems Dutch Holding BBV/U.S. Holdings, Inc. Tranche B Term Loan (b)(n)
02/01/20	4.750%	348,127		351,560
MacDermid, Inc. (b)(g)(n)
2nd Lien Tranche B Term Loan
12/07/20	7.750%	303,000		306,030
MacDermid, Inc. (b)(n)
2nd Lien Tranche B Term Loan
12/07/20	7.750%	107,000		108,070
PQ Corp. Term Loan (b)(n)
08/07/17	4.500%	965,150		974,001
Total				1,739,661
Construction Machinery —%
CPM Acquisition Corp. (b)(n)
1st Lien Term Loan
08/29/17	6.250%	718,396		720,644

Borrower	Weighted Average Coupon	Principal Amount		Value
Senior Loans (continued)
Construction Machinery (continued)
2nd Lien Term Loan
03/01/18	10.250%	$	474,000	$	475,185
Total				1,195,829
Consumer Cyclical Services —%
New Breed, Inc. Term Loan (b)(n)
10/01/19	6.000%	959,180		959,180
Food and Beverage 0.3%
HJ Heinz Co. Tranche B1 Term Loan (b)(n)
06/07/19	3.250%	12,655,000		12,736,751
New HB Acquisition LLC Tranche B Term Loan (b)(n)
04/09/20	6.750%	343,000		352,649
Total				13,089,400
Gaming —%
ROC Finance LLC Tranche B Term Loan (b)(n)
04/08/19	5.000%	351,000		352,755
Health Care 0.1%
American Renal Holdings, Inc. 2nd Lien Term Loan (b)(n)
03/20/20	8.500%	1,054,000		1,040,825
ConvaTec, Inc. Term Loan (b)(n)
12/22/16	5.000%	147,379		147,886
U.S. Renal Care, Inc. (b)(n)
1st Lien Term Loan
07/03/19	6.250%	587,652		585,448
2nd Lien Term Loan
01/03/20	10.250%	595,000		603,925
United Surgical Partners International, Inc. Tranche B Term Loan (b)(n)
04/03/19	4.750%	1,070,182		1,075,983
Total				3,454,067
Life Insurance —%
Alliant Holdings I, Inc. Term Loan (b)(n)
12/20/19	5.000%	195,020		196,726

Borrower	Weighted Average Coupon	Principal Amount		Value
Senior Loans (continued)
Lodging —%
Four Seasons Holdings 2nd Lien Term Loan (b)(n)
12/27/20	6.250%	$	148,000	$	150,220
Media Cable —%
TWCC Holding Corp. 2nd Lien Term Loan (b)(g)(n)
06/26/20	7.000%	69,000		70,552
WideOpenWest Finance LLC Tranche B Term Loan (b)(n)
04/01/19	4.750%	614,802		619,542
Total				690,094
Media Non-Cable —%
Cumulus Media Holdings, Inc. 2nd Lien Term Loan (b)(n)
09/16/19	7.500%	496,000		508,152
Property & Casualty 0.1%
Asurion LLC Tranche B1 Term Loan (b)(n)
05/24/19	4.500%	1,040,770		1,038,949
Lonestar Intermediate Super Holdings LLC Term Loan (b)(n)
09/02/19	11.000%	1,489,000		1,548,560
Total				2,587,509
Retailers —%
Rite Aid Corp. Tranche 1 2nd Lien Term Loan (b)(n)
08/21/20	5.750%	548,000		563,892
Technology 0.1%
Ancestry.com, Inc. Tranche B1 Term Loan (b)(n)
12/28/18	5.250%	799,541		808,536
Blue Coat Systems, Inc. 2nd Lien Term Loan (b)(g)(n)
06/26/20	9.500%	1,079,000		1,079,000
Freescale Semiconductor, Inc. Tranche B4 Term Loan (b)(n)
03/01/20	5.000%	927,361		936,347
ION Trading Technologies SARL 2nd Lien Term Loan (b)(g)(n)
05/22/21	8.250%	354,413		355,299

Borrower	Weighted Average Coupon	Principal Amount		Value
Senior Loans (continued)
Technology (continued)
Ion Trading Technologies SARL 2nd Lien Term Loan (b)(n)
05/22/21	8.250%	$	540,000	$	541,350
Triple Point Group Holdings, Inc. (b)(g)(n)
1st Lien Term Loan
07/11/20	5.250%	464,000		454,720
2nd Lien Term Loan
07/11/21	9.250%	450,000		433,125
Total				4,608,377
Wirelines —%
Integra Telecom Holdings, Inc. (b)(n)
2nd Lien Term Loan
02/21/20	9.750%	96,000		98,581
Tranche B Term Loan
02/22/19	5.250%	278,302		281,433
Total				380,014
Total Senior Loans (Cost: $30,935,097)				$	31,309,651
Issuer		Shares		Value
Common Stocks —%
FINANCIALS —%
Insurance —%
Washington Funding Trust LII D Escrow (c)(e)(f)(o)		2,725		$	—
WMI Holdings Corp. (o)		53,957		48,696
Total				48,696
TOTAL FINANCIALS				48,696
INDUSTRIALS —%
Airlines —%
United Continental Holdings, Inc. (o)		1,493		52,031
Total Common Stocks (Cost: $1,511,115)				$	100,727
Warrants —%
ENERGY —%
Energy Equipment & Services —%
Green Field Energy Services, Inc. (o)		1,276		76,560
Total Warrants (Cost: $51,415)				$	76,560

Issuer	Effective Yield	Principal Amount		Value
Treasury Bills 6.4%
U.S. Treasury Bills (m)
09/19/13	0.010%	$	318,748,355	$	318,763,468
Total Treasury Bills (Cost: $318,748,355)				$	318,763,468

	Shares	Value
Money Market Funds —%
Columbia Short-Term Cash Fund, 0.191% (p)(q)	429,632	$	429,632
Total Money Market Funds (Cost: $429,632)		$	429,632
Total Investments
(Cost: $5,244,700,157) (r)		$	5,233,544,309(s)
Other Assets & Liabilities, Net		(274,927,823)
Net Assets		$	4,958,616,486

Investments in Derivatives

Futures Contracts Outstanding at July 31, 2013

	Number of Contracts		Notional Market		Expiration	Unrealized	Unrealized
Contract Description	Long (Short)		Value ($)		Date	Appreciation ($)	Depreciation ($)
U.S. Treasury Long Bond, 20-year	(1,810	)	(242,653,125	)	September 2013	8,955,927	—
U.S. Treasury Note, 2-year	1,818		400,528,125		September 2013	200,633	—
U.S. Treasury Note, 5-year	(497	)	(60,319,493	)	September 2013	564,075	—
U.S. Treasury Note, 10-year	(748	)	(94,575,250	)	September 2013	1,005,425	—
U.S. Treasury Ultra Bond, 30-year	(869	)	(125,353,250	)	September 2013	7,212,895	—
Total						17,938,955	—

Credit Default Swap Contracts Outstanding at July 31, 2013

Buy Protection

*At July 31, 2013, securities valued at $14,833,333 were pledged as collateral to cover open credit default swap contracts. In addition, securities and cash totaling $2,664,044 were received from the broker as collateral.

Counterparty	Reference Entity	Expiration Date	Pay Fixed Rate (%)	Notional Amount ($)	Market Value ($)		Unamortized Premium (Paid) Received ($)		Periodic Payments Receivable (Payable) ($)		Unrealized Appreciation ($)	Unrealized Depreciation ($)
Goldman Sachs International	H.J. Heinz Company	December 20, 2017	1.00	25,915,000	197,675		510,779		(30,234	)	678,220	—
Goldman Sachs International	Bank of America Corp.	June 20, 2018	1.00	48,035,000	323,287		(532,203	)	(56,041	)	—	(264,957	)
Morgan Stanley	Barclays Bank, PLC	June 20, 2018	1.00	15,365,000	110,060		(425,365	)	(17,926	)	—	(333,231	)
Citibank	CDX Emerging Markets Index 19-V1	June 20, 2018	5.00	13,955,000	(1,140,094	)	743,461		(81,404	)	—	(478,037	)
Goldman Sachs International	CDX Emerging Markets Index 19-V1	June 20, 2018	5.00	13,715,000	(1,120,487	)	537,453		(80,004	)	—	(663,038	)
Goldman Sachs International	CDX North America High Yield 20	June 20, 2018	5.00	45,170,000	(2,478,860	)	2,118,572		(263,492	)	—	(623,780	)
JPMorgan	CDX North America High Yield 20	June 20, 2018	5.00	97,965,000	(5,376,167	)	5,325,956		(571,463	)	—	(621,674	)
Barclays	CDX North America High Yield Index 20-V1	June 20, 2018	5.00	84,335,000	(4,628,174	)	2,329,092		(491,954	)	—	(2,791,036	)
Citibank	CDX North America Investment Grade 20	June 20, 2018	1.00	46,245,000	(519,211	)	554,517		(53,952	)	—	(18,646	)
JPMorgan	CDX North America Investment Grade 20	June 20, 2018	1.00	97,995,000	(1,100,228	)	800,684		(114,328	)	—	(413,872	)
Goldman Sachs International	Citigroup, Inc.	June 20, 2018	1.00	25,205,000	92,161		(70,447	)	(29,405	)	—	(7,691	)
JPMorgan	Citigroup, Inc.	June 20, 2018	1.00	25,205,000	92,161		(93,847	)	(29,406	)	—	(31,092	)
Barclays	D.R. Horton, Inc.	June 20, 2018	1.00	34,705,000	1,812,327		(1,006,625	)	(40,489	)	765,213	—
JPMorgan	D.R. Horton, Inc.	June 20, 2018	1.00	13,590,000	709,682		(473,138	)	(15,855	)	220,689	—

Counterparty	Reference Entity	Expiration Date	Pay Fixed Rate (%)	Notional Amount ($)	Market Value ($)		Unamortized Premium (Paid) Received ($)		Periodic Payments Receivable (Payable) ($)		Unrealized Appreciation ($)	Unrealized Depreciation ($)
Barclays	Goldman Sachs Group, Inc.	June 20, 2018	1.00	14,915,000	210,598		(246,813	)	(17,401	)	—	(53,616	)
Morgan Stanley	Goldman Sachs Group, Inc.	June 20, 2018	1.00	14,425,000	203,680		(231,645	)	(16,829	)	—	(44,794	)
Barclays	Home Depot, Inc.	June 20, 2018	1.00	20,925,000	(688,367	)	643,278		(24,412	)	—	(69,501	)
Goldman Sachs International	Home Depot, Inc.	June 20, 2018	1.00	3,730,000	(122,705	)	110,777		(4,351	)	—	(16,279	)
JPMorgan	Home Depot, Inc.	June 20, 2018	1.00	17,710,000	(582,603	)	552,761		(20,662	)	—	(50,504	)
Barclays	Limited Brands, Inc.	June 20, 2018	1.00	23,085,000	941,013		(1,118,428	)	(26,932	)	—	(204,347	)
Barclays	Marriott International, Inc.	June 20, 2018	1.00	15,560,000	(261,331	)	273,369		(18,153	)	—	(6,115	)
Citibank	Marriott International, Inc.	June 20, 2018	1.00	5,145,000	(86,411	)	116,276		(6,003	)	23,862	—
Goldman Sachs International	Textron, Inc.	June 20, 2018	1.00	22,810,000	363,111		(210,961	)	(26,612	)	125,538	—
Barclays	Toll Brothers, Inc.	June 20, 2018	1.00	9,540,000	378,019		(302,157	)	(11,130	)	64,732	—
Morgan Stanley	Toll Brothers, Inc.	June 20, 2018	1.00	56,095,000	2,222,742		(1,029,393	)	(65,444	)	1,127,905	—
JPMorgan	Barclays Bank, PLC	September 20, 2018	1.00	14,460,000	146,133		(338,044	)	(16,870	)	—	(208,781	)
Citibank	H.J. Heinz Company	September 20, 2018	1.00	15,255,000	397,696		(497,913	)	(17,798	)	—	(118,015	)
Goldman Sachs International	Home Depot, Inc.	September 20, 2018	1.00	25,730,000	(864,854	)	778,662		(30,018	)	—	(116,210	)
Barclays	Morgan Stanley	September 20, 2018	1.00	11,015,000	231,701		(428,305	)	(12,851	)	—	(209,455	)
Citibank	Morgan Stanley	September 20, 2018	1.00	16,525,000	347,604		(672,377	)	(19,279	)	—	(344,052	)
Citibank	Nucor Corp.	September 20, 2018	1.00	10,305,000	(102,881	)	75,654		(12,023	)	—	(39,250	)
Goldman Sachs International	Nucor Corp.	September 20, 2018	1.00	4,115,000	(41,083	)	36,265		(4,801	)	—	(9,619	)
Barclays	Telecom Italia SPA	September 20, 2018	1.00	4,600,000	527,021		(463,918	)	(5,367	)	57,736	—
Total											3,063,895	(7,737,592	)

Notes to Portfolio of Investments

(a)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2013, the value of these securities amounted to $939,478,484 or 18.95% of net assets.
(b)	Variable rate security.
(c)	Identifies issues considered to be illiquid as to their marketability. The aggregate value of such securities at July 31, 2013 was $1,829,236, representing 0.04% of net assets. Information concerning such security holdings at July 31, 2013 is as follows:

Security Description	Acquisition Dates	Cost ($)
American Mortgage Trust
Series 2093-3 Class 3A
07/27/23 8.188%	04-27-95	3,670
Six Flags, Inc.
06/01/14 0.000%	05-07-10	—
United Artists Theatre Circuit, Inc.
1995-A Pass-Through Certificates
07/01/15 9.300%	08-12-96	1,753,165
Washington Funding Trust LII D Escrow	03-28-08	—
Washington Mutual Bank
Subordinated Notes
01/15/15 5.125%	09-25-07 - 05-14-08	24,052,072

(d)	Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At July 31, 2013, the value of these securities amounted to $41,069, which represents less than 0.01% of net assets.
(e)	Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At July 31, 2013, the value of these securities amounted to $75,389,014, which represents 1.52% of net assets.
(f)	Negligible market value.
(g)	Represents a security purchased on a when-issued or delayed delivery basis.
(h)	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.
(i)	Principal Only (PO) security issued with a zero coupon. Income is recognized through the accretion of discount.

(j)	At July 31, 2013, investments in securities included securities valued at $11,488,400 that were partially pledged as collateral to cover initial margin deposits on open interest rate futures contracts.
(k)	Interest Only (IO) security. The actual effective yield of this security is different than the stated coupon rate.
(l)	Zero coupon bond.
(m)	This security, or a portion of this security, has been pledged as collateral in connection with swap contracts. These values are denoted within the Investments in Derivatives section of the Portfolio of Investments.
(n)	Senior loans have rates of interest that float periodically based primarily on the London Interbank Offered Rate (“LIBOR”) and other short-term rates. The interest rate shown reflects the weighted average coupon as of July 31, 2013. The interest rate shown for senior loans purchased on a when-issued or delayed delivery basis, if any, reflects an estimated average coupon. 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.
(o)	Non-income producing.
(p)	The rate shown is the seven-day current annualized yield at July 31, 2013.
(q)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of its outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended July 31, 2013, are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds from Sales ($)		Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	7,211,825	535,428,206	(542,210,399	)	429,632	45,178	429,632

(r) At July 31, 2013, the cost of securities for federal income tax purposes was approximately $5,244,700,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	103,962,000
Unrealized Depreciation	(115,118,000		)
Net Unrealized Depreciation	$	(11,156,000	)

(s) Investments are valued using policies described in the notes to financial statements in the most recent shareholder report.

Abbreviation Legend
AGM	Assured Guaranty Municipal Corporation
CMO	Collateralized Mortgage Obligation
NPFGC	National Public Finance Guarantee Corporation
PIK	Payment-in-Kind
STRIPS	Separate Trading of Registered Interest and Principal Securities

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 (including 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 Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

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

Under the direction of the Fund’s Board of Trustees (the Board), the Investment Manager’s Valuation Committee (the Committee) is responsible for carrying out the valuation procedures approved by the Board. The Committee consists of voting and non-voting  members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific  valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of  Board-approved valuation control policies and procedures (the Policies).  The Policies address, among other things, instances  when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques;  securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third- party pricing vendors, including periodic reviews of vendors.  The Committee meets more frequently, as needed, to discuss  additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or  approve related valuation actions.  The Committee reports to the Board, with members of the Committee meeting with the Board  at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

For investments categorized as Level 3, the Committee monitors information similar to that described above, which may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific  or similar security transactions.  The Committee considers this data and any changes from prior periods in order to assess the  reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and  changes in fair value.  This data is also used to corroborate, when available, information received from approved pricing vendors and brokers.  Various factors impact the frequency of monitoring this information (which may occur as often as daily). However,  the Committee may determine that changes to inputs, assumptions and models are not required as a result of the monitoring procedures performed.

The following table is a summary of the inputs used to value the Fund’s investments at July 31, 2013:

Description	Level 1	Level 2		Level 3
	Quoted Prices in	Other Significant		Significant
	Active Markets for	Observable		Unobservable
	Identical Assets ($)	Inputs ($)		Inputs ($)	Total ($)
Bonds
Corporate Bonds & Notes
Banking	—	449,911,625		41,069	449,952,694
Entertainment	—	1,733,455		1,785,809	3,519,264
All Other Industries	—	1,712,620,403		—	1,712,620,403
Residential Mortgage-Backed Securities - Agency	—	857,877,263		—	857,877,263
Residential Mortgage-Backed Securities - Non-Agency	—	128,326,284		109,244,804	237,571,088
Commercial Mortgage-Backed Securities - Non-Agency	—	399,588,266		20,500,169	420,088,435
Asset-Backed Securities - Agency	—	72,582,304		—	72,582,304
Asset-Backed Securities - Non-Agency	—	247,870,650		—	247,870,650
Inflation-Indexed Bonds	—	9,633,591		—	9,633,591
U.S. Treasury Obligations	209,308,406	367,529,286		—	576,837,692
U.S. Government & Agency Obligations	—	15,536,869		—	15,536,869
Foreign Government Obligations	—	48,053,381		—	48,053,381
Municipal Bonds	—	76,383,299		—	76,383,299
Preferred Debt	154,337,338	—		—	154,337,338
Total Bonds	363,645,744	4,387,646,676		131,571,851	4,882,864,271
Equity Securities
Common Stocks
Financials	48,696	—		—	48,696
Industrials	52,031	—		—	52,031
Warrants
Energy	—	76,560		—	76,560
Total Equity Securities	100,727	76,560		—	177,287
Short-Term Securities
Treasury Bills	318,763,468	—		—	318,763,468
Total Short-Term Securities	318,763,468	—		—	318,763,468
Mutual Funds
Money Market Funds	429,632	—		—	429,632
Total Mutual Funds	429,632	—		—	429,632
Other
Senior Loans
Construction Machinery	—	720,644		475,185	1,195,829
Health Care	—	2,868,619		585,448	3,454,067
Property and Casualty	—	1,038,949		1,548,560	2,587,509
All Other Industries	—	24,072,246		—	24,072,246
Total Other	—	28,700,458		2,609,193	31,309,651
Investments in Securities	682,939,571	4,416,423,694		134,181,044	5,233,544,309
Derivatives
Assets
Futures Contracts	17,938,955	—		—	17,938,955
Swap Contracts	—	3,063,895		—	3,063,895
Liabilities
Swap Contracts	—	(7,737,592	)	—	(7,737,592	)
Total	700,878,526	4,411,749,997		134,181,044	5,246,809,567

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

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

There were no transfers of financial assets between Levels 1 and 2 during the period.

Derivative instruments are valued at unrealized appreciation (depreciation).

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

	Corporate Bonds & Notes ($)		Residential Mortgage-Backed Securities - Non-Agency ($)		Commercial Mortgage- Backed Securities - Non-Agency ($)		Asset-Backed Securities - Non-Agency ($)		Senior Loans ($)		Total ($)
Balance as of April 30, 2013	2,224,862		75,218,231		21,938,320		184,702,709		476,370		284,560,492
Accrued discounts/premiums	—		(64,145	)	(407	)	—		1,179		(63,373	)
Realized gain (loss)	7,275		53,467		5,165		—		(18	)	65,889
Change in unrealized appreciation (depreciation)(a)	(7,275	)	(1,694,844	)	(21,435	)	—		(62,717	)	(1,786,271	)
Sales	(397,984	)	(8,310,461	)	(5,946,474	)	—		(1,484	)	(14,656,403	)
Purchases	—		44,042,556		4,525,000		—		—		48,567,556
Transfers into Level 3	—		—		—		—		2,195,863		2,195,863
Transfers out of Level 3	—		—		—		(184,702,709	)	—		(184,702,709	)
Balance as of July 31, 2013	1,826,878		109,244,804		20,500,169		—		2,609,193		134,181,044

(a)Change in unrealized appreciation (depreciation) relating to securities held at July 31, 2013 was $(1,786,271), which is comprised of Corporate Bonds & Notes of $(7,275), Residential Mortgage-Backed Securities - Non-Agency of $(1,694,844), Commercial Mortgage-Backed Securities - Non-Agency of $(21,435)  and Senior Loans of $(62,717).

The Fund does not hold any significant investments with unobservable inputs which are categorized as Level 3.

The Fund’s assets assigned to the Level 3 category are valued utilizing the valuation technique deemed the most appropriate in the circumstances.

Certain residential and commercial backed securities as well as senior loans classified as Level 3 securities are valued using the market approach and utilize single market quotations from broker dealers which may have included, but not limited to, the distressed nature of the security and observable transactions for similar assets in the market. Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.

Certain corporate bonds classified as Level 3 are valued using a market approach.  To determine fair value for these securities, management considered various factors which may have included, but were not limited to, trades of similar securities, estimated earnings of the respective company, market multiples derived from a set of comparable companies, and the position of the security within the respective company’s capital structure.  Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.  Generally, a change estimated earnings of the respective company might result in change to the comparable companies and market multiples.

Certain residential mortgage backed securities classified as Level 3 are valued using a market approach.  To determine fair value for these securities, management considered various factors which may have included, but were not limited to, estimated cash flows of the securities and observed yields on securities management deemed comparable. Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement. Generally, a change in observable yields on comparable securities would result in a directionally similar change to discount rates.

Financial assets were transferred from Level 3 to Level 2 as observable market inputs were utilized and management’s determination that there was sufficient, reliable and observable market data to value these assets as of period end, July 31, 2013.

Financial Assets were transferred from Level 2 to Level 3 due to utilizing a single market quotation from a broker dealer.  As a result, as of period end, management determined to value the security(s) under consistently applied procedures established by and under the general supervision of the Board of Trustees.

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 Small Cap Value Fund I

July 31, 2013 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Shares	Value
Common Stocks 97.4%
CONSUMER DISCRETIONARY 10.9%
Auto Components 1.4%
Dana Holding Corp.	577,348	$	12,615,054
Gentherm, Inc. (a)	280,946	5,731,298
Remy International, Inc.	179,000	3,721,410
Total		22,067,762
Diversified Consumer Services 0.5%
Lincoln Educational Services Corp.	530,849	3,328,423
Universal Technical Institute, Inc.	311,256	3,641,695
Total		6,970,118
Hotels, Restaurants & Leisure 1.8%
Del Frisco’s Restaurant Group, Inc. (a)	269,040	5,660,601
Life Time Fitness, Inc. (a)	254,520	13,563,371
Red Robin Gourmet Burgers, Inc. (a)	136,518	7,765,144
Total		26,989,116
Household Durables 0.6%
Cavco Industries, Inc. (a)	87,901	4,816,096
UCP Inc., Class A (a)	264,280	3,752,776
Total		8,568,872
Specialty Retail 4.2%
Children’s Place Retail Stores, Inc. (The) (a)	168,000	9,078,720
Destination XL Group, Inc. (a)	644,857	4,159,328
Finish Line, Inc., Class A (The)	436,197	9,709,745
Haverty Furniture Companies, Inc.	260,947	6,784,622
Pier 1 Imports, Inc.	641,830	15,083,005
Select Comfort Corp. (a)	352,772	8,060,840
Shoe Carnival, Inc.	263,085	7,027,001
Stage Stores, Inc.	213,220	5,321,971
Total		65,225,232
Textiles, Apparel & Luxury Goods 2.4%
Crocs, Inc. (a)	475,190	6,495,847
Deckers Outdoor Corp. (a)	207,050	11,352,552
G-III Apparel Group Ltd. (a)	172,040	8,853,178
Steven Madden Ltd. (a)	204,140	10,496,879
Total		37,198,456
TOTAL CONSUMER DISCRETIONARY		167,019,556
CONSUMER STAPLES 2.9%
Food & Staples Retailing 0.5%
Andersons, Inc. (The)	121,855	7,228,439
Food Products 2.0%
Chiquita Brands International, Inc. (a)	540,740	6,532,139

Issuer	Shares	Value
Common Stocks (continued)
CONSUMER STAPLES (CONTINUED)
Food Products (continued)
Darling International, Inc. (a)	581,210	$	11,798,563
Fresh Del Monte Produce, Inc.	466,218	13,096,064
John B. Sanfilippo & Son, Inc.	18,993	409,869
Total		31,836,635
Personal Products 0.4%
Inter Parfums, Inc.	174,774	5,764,046
TOTAL CONSUMER STAPLES		44,829,120
ENERGY 7.5%
Energy Equipment & Services 3.5%
Dawson Geophysical Co. (a)	147,211	5,311,373
Gulf Island Fabrication, Inc.	202,866	5,016,876
Newpark Resources, Inc. (a)	597,765	6,838,432
Patterson-UTI Energy, Inc.	422,340	8,349,662
Tesco Corp. (a)	356,484	4,719,848
Tetra Technologies, Inc. (a)	578,515	5,854,572
TGC Industries, Inc.	509,591	4,571,031
Tidewater, Inc.	213,761	12,609,761
Total		53,271,555
Oil, Gas & Consumable Fuels 4.0%
Bill Barrett Corp. (a)	389,420	8,730,796
Cloud Peak Energy, Inc. (a)	571,154	9,155,599
Energy XXI Bermuda Ltd.	563,480	15,129,438
Forest Oil Corp. (a)	1,459,360	7,471,923
Rex Energy Corp. (a)	329,100	6,315,429
Stone Energy Corp. (a)	379,359	9,241,185
VAALCO Energy, Inc. (a)	1,021,515	6,333,393
Total		62,377,763
TOTAL ENERGY		115,649,318
FINANCIALS 32.2%
Capital Markets 0.7%
GFI Group, Inc.	1,067,449	4,269,796
INTL FCStone, Inc. (a)	348,171	6,444,645
Total		10,714,441
Commercial Banks 12.3%
Ameris Bancorp (a)	374,201	7,203,369
BancFirst Corp.	112,336	5,872,926
BankUnited, Inc.	344,219	10,409,183
Banner Corp.	135,560	5,026,565
Bryn Mawr Bank Corp.	263,786	7,375,457
Chemical Financial Corp.	382,881	11,432,827

Issuer	Shares	Value
Common Stocks (continued)
FINANCIALS (CONTINUED)
Commercial Banks (continued)
Columbia Banking System, Inc.	544,330	$	13,597,363
Community Trust Bancorp, Inc.	224,798	8,958,200
First Citizens BancShares Inc., Class A	30,471	6,383,674
First Commonwealth Financial Corp.	1,150,700	8,641,757
First Financial Corp.	268,576	8,905,980
FirstMerit Corp.	530,200	11,887,084
Glacier Bancorp, Inc.	551,668	13,427,599
Hancock Holding Co.	371,098	12,157,170
Home Federal Bancorp, Inc.	467,678	6,556,846
Hudson Valley Holding Corp.	166,242	3,444,534
Investors Bancorp, Inc.	415,466	9,223,345
Merchants Bancshares, Inc.	229,742	7,131,192
Northrim BanCorp, Inc.	277,883	7,091,574
Synovus Financial Corp.	1,768,689	5,889,734
Union First Market Bankshares Corp.	219,825	4,858,133
Washington Banking Co.	112,347	1,634,649
Wintrust Financial Corp.	281,915	11,533,143
Total		188,642,304
Consumer Finance 0.5%
Cash America International, Inc.	191,192	8,030,064
Diversified Financial Services 0.9%
Interactive Brokers Group, Inc., Class A	441,868	7,158,262
Pico Holdings, Inc. (a)	296,887	6,498,856
Total		13,657,118
Insurance 8.4%
Allied World Assurance Co. Holdings AG	104,140	9,856,851
American Equity Investment Life Holding Co.	568,743	10,351,123
Argo Group International Holdings Ltd.	208,463	9,307,873
Baldwin & Lyons, Inc., Class B	237,542	6,344,747
EMC Insurance Group, Inc.	279,517	8,105,993
Endurance Specialty Holdings Ltd.	187,147	9,849,547
FBL Financial Group, Inc., Class A	112,251	4,964,862
Hanover Insurance Group, Inc. (The)	215,140	11,580,986
Horace Mann Educators Corp.	335,642	9,512,094
Kemper Corp.	209,445	7,320,103
National Western Life Insurance Co., Class A	31,416	6,721,453
Navigators Group, Inc. (The) (a)	134,466	7,793,649
Safety Insurance Group, Inc.	144,851	7,788,638
Symetra Financial Corp.	692,593	12,452,822

Issuer	Shares	Value
Common Stocks (continued)
FINANCIALS (CONTINUED)
Insurance (continued)
United Fire Group, Inc.	260,728	$	6,781,535
Total		128,732,276
Real Estate Investment Trusts (REITs) 6.7%
Associated Estates Realty Corp.	380,687	5,816,897
Chesapeake Lodging Trust	401,316	9,194,150
Colonial Properties Trust	536,740	12,994,476
Cousins Properties, Inc.	814,684	8,350,511
LaSalle Hotel Properties	539,190	14,525,779
National Health Investors, Inc.	142,290	8,905,931
Potlatch Corp.	171,998	7,573,072
Sabra Health Care REIT, Inc.	283,160	7,430,118
Select Income REIT	266,190	7,181,806
Sunstone Hotel Investors, Inc. (a)	1,034,079	13,380,982
Terreno Realty Corp.	449,775	8,248,874
Total		103,602,596
Thrifts & Mortgage Finance 2.7%
Bank Mutual Corp.	1,156,740	7,183,355
BankFinancial Corp.	432,707	3,721,280
Brookline Bancorp, Inc.	750,028	7,395,276
MGIC Investment Corp. (a)	279,200	2,133,088
Provident New York Bancorp	463,382	5,027,695
Washington Federal, Inc.	562,903	12,243,140
WSFS Financial Corp.	78,714	4,685,845
Total		42,389,679
TOTAL FINANCIALS		495,768,478
HEALTH CARE 6.3%
Biotechnology 0.2%
Dynavax Technologies Corp. (a)	1,875,575	2,494,515
Health Care Equipment & Supplies 1.4%
Angiodynamics, Inc. (a)	314,357	3,756,566
CONMED Corp.	267,912	8,787,514
ICU Medical, Inc. (a)	69,304	4,968,404
Orthofix International NV (a)	155,505	3,531,518
Total		21,044,002
Health Care Providers & Services 2.5%
Centene Corp. (a)	195,070	10,820,533
Chemed Corp.	133,526	9,425,600
Magellan Health Services, Inc. (a)	171,370	9,793,796
Molina Healthcare, Inc. (a)	235,920	8,757,350
Total		38,797,279

Issuer	Shares	Value
Common Stocks (continued)
HEALTH CARE (CONTINUED)
Health Care Technology 0.6%
Allscripts-Misys Healthcare Solutions, Inc. (a)	586,590	$	9,273,988
Pharmaceuticals 1.6%
Hi-Tech Pharmacal Co., Inc.	120,472	4,329,764
Impax Laboratories, Inc. (a)	459,000	9,519,660
Questcor Pharmaceuticals, Inc.	112,636	7,526,337
Supernus Pharmaceuticals, Inc. (a)	605,586	4,148,264
Total		25,524,025
TOTAL HEALTH CARE		97,133,809
INDUSTRIALS 13.8%
Aerospace & Defense 1.6%
AAR Corp.	243,108	5,892,938
Esterline Technologies Corp. (a)	179,970	14,656,757
KEYW Holding Corp. (The) (a)	347,070	4,452,908
Total		25,002,603
Airlines 0.4%
Hawaiian Holdings, Inc. (a)	816,178	6,235,600
Building Products 0.4%
Universal Forest Products, Inc.	139,880	5,770,050
Commercial Services & Supplies 2.3%
ACCO Brands Corp. (a)	802,878	5,307,023
Consolidated Graphics, Inc. (a)	2,264	121,328
EnerNOC, Inc. (a)	294,209	4,595,545
Ennis, Inc.	232,929	4,316,174
Steelcase, Inc., Class A	631,270	9,620,555
Unifirst Corp.	113,900	11,164,478
Total		35,125,103
Construction & Engineering 0.5%
KHD Humboldt Wedag International AG	384,903	2,353,920
Layne Christensen Co. (a)	128,866	2,497,423
Sterling Construction Co., Inc. (a)	235,887	2,316,410
Total		7,167,753
Electrical Equipment 1.8%
Brady Corp., Class A	296,158	9,853,177
EnerSys, Inc.	234,622	12,416,196
GrafTech International Ltd. (a)	742,945	5,586,946
Total		27,856,319

Issuer	Shares	Value
Common Stocks (continued)
INDUSTRIALS (CONTINUED)
Machinery 5.3%
Albany International Corp., Class A	266,928	$	9,211,685
Altra Holdings, Inc.	220,406	5,496,926
Briggs & Stratton Corp.	359,629	7,282,487
CIRCOR International, Inc.	131,590	6,911,107
Dynamic Materials Corp.	221,745	4,299,636
EnPro Industries, Inc. (a)	152,406	8,661,233
FreightCar America, Inc.	199,878	3,639,778
Gorman-Rupp Co.	93,442	3,245,241
Kadant, Inc.	170,674	5,587,867
LB Foster Co., Class A	162,532	7,554,487
Lydall, Inc. (a)	37,671	586,161
Mueller Industries, Inc.	168,341	9,240,237
Titan International, Inc.	446,380	7,695,591
Twin Disc, Inc.	125,008	3,122,700
Total		82,535,136
Professional Services 0.4%
Korn/Ferry International (a)	341,852	6,676,369
Road & Rail 1.1%
Heartland Express, Inc.	475,176	6,994,591
Werner Enterprises, Inc.	398,299	9,583,074
Total		16,577,665
TOTAL INDUSTRIALS		212,946,598
INFORMATION TECHNOLOGY 11.4%
Communications Equipment 0.3%
Symmetricom, Inc. (a)	741,511	3,811,366
Electronic Equipment, Instruments & Components 2.2%
Electro Scientific Industries, Inc.	378,914	4,300,674
GSI Group, Inc. (a)	603,562	5,075,956
Littelfuse, Inc.	148,415	11,871,716
Measurement Specialties, Inc. (a)	118,739	5,910,828
MTS Systems Corp.	114,142	7,196,653
Total		34,355,827
Internet Software & Services 1.4%
j2 Global, Inc.	295,395	13,520,229
ValueClick, Inc. (a)	307,990	7,527,276
Total		21,047,505
IT Services 1.1%
Global Cash Access Holdings, Inc. (a)	502,214	3,510,476
MoneyGram International, Inc. (a)	327,002	7,099,213

Issuer	Shares	Value
Common Stocks (continued)
INFORMATION TECHNOLOGY (CONTINUED)
IT Services (continued)
TeleTech Holdings, Inc. (a)	268,994	$	6,738,300
Total		17,347,989
Semiconductors & Semiconductor Equipment 4.8%
ATMI, Inc. (a)	262,515	6,523,498
Cypress Semiconductor Corp.	841,730	10,748,892
Entegris, Inc. (a)	1,027,512	9,792,189
Integrated Device Technology, Inc. (a)	960,819	8,656,979
M/A-COM Technology Solutions Holdings, Inc. (a)	195,450	3,133,064
MKS Instruments, Inc.	352,784	9,567,502
RF Micro Devices, Inc. (a)	1,751,450	9,090,025
Silicon Laboratories, Inc. (a)	265,410	10,366,915
Teradyne, Inc. (a)	345,750	5,701,418
Total		73,580,482
Software 1.6%
Progress Software Corp. (a)	352,862	9,029,739
PTC, Inc. (a)	316,506	8,570,982
Tangoe, Inc. (a)	407,366	7,357,030
Total		24,957,751
TOTAL INFORMATION TECHNOLOGY		175,100,920
MATERIALS 4.7%
Chemicals 2.0%
A. Schulman, Inc.	215,148	5,765,966
Chemtura Corp. (a)	130,803	2,924,755
LSB Industries, Inc. (a)	233,966	7,692,802
OM Group, Inc. (a)	284,786	8,791,344
Tronox Ltd., Class A	228,880	4,968,985
Total		30,143,852
Containers & Packaging 1.2%
Greif, Inc., Class A	348,442	19,275,812
Metals & Mining 1.5%
Hecla Mining Co.	2,387,570	7,711,851
Olympic Steel, Inc.	250,226	6,968,794
US Silica Holdings, Inc.	355,030	8,591,726
Total		23,272,371
TOTAL MATERIALS		72,692,035

Issuer	Shares	Value
Common Stocks (continued)
TELECOMMUNICATION SERVICES 1.2%
Diversified Telecommunication Services 0.5%
Alteva, Inc. (b)	344,812	$	3,368,813
Cbeyond, Inc. (a)	527,269	4,465,969
Total		7,834,782
Wireless Telecommunication Services 0.7%
NTELOS Holdings Corp.	252,067	4,721,215
Shenandoah Telecommunications Co.	313,421	6,039,622
Total		10,760,837
TOTAL TELECOMMUNICATION SERVICES		18,595,619
UTILITIES 6.5%
Electric Utilities 3.6%
Allete, Inc.	191,170	10,250,536
El Paso Electric Co.	268,377	10,136,599
IDACORP, Inc.	268,704	14,179,510
MGE Energy, Inc.	130,638	7,669,757
Portland General Electric Co.	407,449	12,916,133
Total		55,152,535
Gas Utilities 1.6%
Laclede Group, Inc. (The)	240,714	11,039,144
Southwest Gas Corp.	258,995	12,856,512
Total		23,895,656
Multi-Utilities 1.3%
Avista Corp.	362,949	10,445,672
Vectren Corp.	275,786	10,209,598
Total		20,655,270
TOTAL UTILITIES		99,703,461
Total Common Stocks (Cost: $1,121,196,204)		$	1,499,438,914
	Shares	Value
Money Market Funds 2.1%
Columbia Short-Term Cash Fund, 0.191% (b)(c)	32,502,990	$	32,502,990
Total Money Market Funds (Cost: $32,502,990)		$	32,502,990
Total Investments
(Cost: $1,153,699,194) (d)		$	1,531,941,904(e)
Other Assets & Liabilities, Net		7,397,168
Net Assets		$	1,539,339,072

Notes to Portfolio of Investments

(a)	Non-income producing.
(b)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of its outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended July 31, 2013, are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds from Sales ($)		Realized Gain (Loss) ($)		Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Alteva, Inc.	4,300,945	—	(10,336	)	(439	)	4,290,170	93,099	3,368,813
Columbia Short-Term Cash Fund	15,318,686	104,242,244	(87,057,940	)	—		32,502,990	9,185	32,502,990
Total	19,619,631	104,242,244	(87,068,276	)	(439	)	36,793,160	102,284	35,871,803

(c)	The rate shown is the seven-day current annualized yield at July 31, 2013.
(d)	At July 31, 2013, the cost of securities for federal income tax purposes was approximately $1,153,699,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	402,898,000
Unrealized Depreciation	(24,655,000		)
Net Unrealized Appreciation	$	378,243,000

(e) Investments are valued using policies described in the notes to financial statements in the most recent shareholder report.

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 (including 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 Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Foreign equity securities actively traded in markets where there is a significant delay in the local close relative to the New York Stock Exchange (NYSE) are classified as Level 2.  The values of these securities may include an adjustment to reflect the impact of significant market movements following the close of local trading, as described in Note 2 to the financial statements – Security Valuation in the most recent Annual Report dated April 30, 2013.

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

Under the direction of the Fund’s Board of Trustees (the Board), the Investment Manager’s Valuation Committee (the Committee) is responsible for carrying out the valuation procedures approved by the Board. The Committee consists of voting and non-voting  members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific  valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of  Board-approved valuation control policies and procedures (the Policies).  The Policies address, among other things, instances  when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques;  securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third- party pricing vendors, including periodic reviews of vendors.  The Committee meets more frequently, as needed, to discuss  additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or  approve related valuation actions.  The Committee reports to the Board, with members of the Committee meeting with the Board  at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

For investments categorized as Level 3, the Committee monitors information similar to that described above, which may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific  or similar security transactions.  The Committee considers this data and any changes from prior periods in order to assess the  reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and  changes in fair value.  This data is also used to corroborate, when available, information received from approved pricing vendors and brokers.  Various factors impact the frequency of monitoring this information (which may occur as often as daily). However,  the Committee may determine that changes to inputs, assumptions and models are not required as a result of the monitoring procedures performed.

The following table is a summary of the inputs used to value the Fund’s investments at July 31, 2013:

Description	Level 1	Level 2	Level 3
	Quoted Prices in	Other Significant	Significant
	Active Markets for	Observable	Unobservable
	Identical Assets ($)	Inputs ($)	Inputs ($)	Total ($)
Equity Securities
Common Stocks
Consumer Discretionary	167,019,556	—	—	167,019,556
Consumer Staples	44,829,120	—	—	44,829,120
Energy	115,649,318	—	—	115,649,318
Financials	495,768,478	—	—	495,768,478
Health Care	97,133,809	—	—	97,133,809
Industrials	210,592,678	2,353,920	—	212,946,598
Information Technology	175,100,920	—	—	175,100,920
Materials	72,692,035	—	—	72,692,035
Telecommunication Services	18,595,619	—	—	18,595,619
Utilities	99,703,461	—	—	99,703,461
Total Equity Securities	1,497,084,994	2,353,920	—	1,499,438,914
Mutual Funds
Money Market Funds	32,502,990	—	—	32,502,990
Total Mutual Funds	32,502,990	—	—	32,502,990
Total	1,529,587,984	2,353,920	—	1,531,941,904

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

The Fund’s assets assigned to the Level 2 input category are generally valued using the market approach, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets.  These assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation.  The models utilized by the third party statistical pricing service take into account a security’s correlation to available market data including, but not limited to, intraday index, ADR, and ETF movements.

There were no transfers of financial assets between Levels 1 and 2 during the period.

Portfolio of Investments

Columbia U.S. Treasury Index Fund

July 31, 2013 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Coupon Rate	Principal Amount		Value
U.S. Treasury Obligations 99.4%
U.S. Treasury
07/31/14	0.125%	$	3,315,000	$	3,314,354
09/15/14	0.250%	3,495,000		3,498,415
09/30/14	0.250%	1,525,000		1,526,490
09/30/14	2.375%	4,715,000		4,835,822
10/31/14	0.250%	3,285,000		3,287,822
10/31/14	2.375%	14,000,000		14,381,724
11/15/14	0.375%	3,495,000		3,503,601
12/31/14	0.125%	4,500,000		4,495,252
01/31/15	0.250%	2,965,000		2,966,737
01/31/15	2.250%	2,775,000		2,859,116
02/15/15	4.000%	7,605,000		8,044,964
02/15/15	11.250%	4,175,000		4,879,531
04/15/15	0.375%	7,590,000		7,604,231
04/30/15	0.125%	4,930,000		4,917,867
05/31/15	2.125%	3,885,000		4,014,751
06/30/15	0.375%	5,965,000		5,973,388
07/15/15	0.250%	5,040,000		5,033,897
08/15/15	0.250%	4,465,000		4,457,673
10/15/15	0.250%	3,860,000		3,849,447
10/31/15	1.250%	6,965,000		7,101,033
11/30/15	1.375%	9,650,000		9,866,372
12/15/15	0.250%	3,155,000		3,142,430
01/31/16	2.000%	11,225,000		11,657,342
04/15/16	0.250%	4,010,000		3,981,493
06/15/16	0.500%	5,435,000		5,424,300
08/31/16	1.000%	6,315,000		6,380,619
09/30/16	1.000%	7,935,000		8,012,493
11/15/16	7.500%	5,540,000		6,754,905
11/30/16	0.875%	1,910,000		1,917,014
04/30/17	3.125%	12,305,000		13,297,091
05/31/17	0.625%	8,930,000		8,812,097
08/31/17	0.625%	3,660,000		3,593,948
08/31/17	1.875%	7,020,000		7,245,960
10/31/17	0.750%	4,390,000		4,318,148
10/31/17	1.875%	7,505,000		7,734,255
12/31/17	0.750%	4,310,000		4,226,158
01/31/18	0.875%	1,310,000		1,289,121
02/15/18	3.500%	10,655,000		11,723,824
02/28/18	0.750%	2,145,000		2,096,738
03/31/18	0.750%	1,875,000		1,829,151
04/30/18	0.625%	1,645,000		1,592,566
05/15/18	3.875%	3,905,000		4,372,686
05/31/18	1.000%	2,090,000		2,056,690
06/30/18	1.375%	1,870,000		1,870,438
06/30/18	2.375%	2,345,000		2,457,304
03/31/19	1.500%	1,415,000		1,406,156
08/31/19	1.000%	1,250,000		1,195,605
11/15/19	3.375%	11,810,000		12,953,173
11/30/19	1.000%	1,295,000		1,231,059

Issuer	Coupon Rate	Principal Amount		Value
U.S. Treasury Obligations  (continued)
12/31/19	1.125%	$	1,725,000	$	1,648,722
01/31/20	1.375%	1,195,000		1,158,124
02/15/20	3.625%	885,000		983,456
02/29/20	1.250%	1,295,000		1,242,088
03/31/20	1.125%	1,285,000		1,220,248
04/30/20	1.125%	1,245,000		1,179,540
05/15/20	3.500%	2,365,000		2,605,934
05/31/20	1.375%	2,860,000		2,749,844
08/15/20	2.625%	4,050,000		4,218,326
02/15/21	3.625%	7,465,000		8,256,992
05/15/21	3.125%	3,805,000		4,063,919
02/15/22	2.000%	2,290,000		2,223,984
08/15/22	1.625%	3,125,000		2,909,181
11/15/22	1.625%	3,250,000		3,008,281
02/15/23	2.000%	3,360,000		3,203,024
05/15/23	1.750%	3,670,000		3,403,925
02/15/26	6.000%	4,440,000		5,882,307
08/15/28	5.500%	375,000		480,176
11/15/28	5.250%	455,000		568,892
05/15/37	5.000%	1,110,000		1,385,419
08/15/39	4.500%	885,000		1,032,961
02/15/40	4.625%	5,715,000		6,796,387
05/15/40	4.375%	3,455,000		3,954,355
11/15/40	4.250%	2,995,000		3,359,078
02/15/41	4.750%	4,030,000		4,887,004
08/15/41	3.750%	510,000		524,822
05/15/42	3.000%	1,195,000		1,060,749
08/15/42	2.750%	2,175,000		1,826,321
11/15/42	2.750%	2,155,000		1,806,833
02/15/43	3.125%	2,295,000		2,084,147
05/15/43	2.875%	2,370,000		2,039,681
U.S. Treasury (a)
07/31/18	1.375%	1,895,000		1,893,520
07/31/20	2.000%	1,570,000		1,568,160
Total U.S. Treasury Obligations (Cost: $332,970,282)				$	338,211,651
		Shares		Value
Money Market Funds  0.1%
Columbia Short-Term Cash Fund, 0.191% (b)(c)		447,431		$	447,431
Total Money Market Funds (Cost: $447,431)				$	447,431
Total Investments
(Cost: $333,417,713) (d)				$	338,659,082(e)
Other Assets & Liabilities, Net				1,723,419
Net Assets				$	340,382,501

Notes to Portfolio of Investments
(a)	Represents a security purchased on a when-issued or delayed delivery basis.
(b)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of its outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended July 31, 2013, are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds from Sales ($)		Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	1,514,519	13,101,542	(14,168,630	)	447,431	364	447,431

(c)	The rate shown is the seven-day current annualized yield at July 31, 2013.
(d)	At July 31, 2013, the cost of securities for federal income tax purposes was approximately $333,418,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	7,906,000
Unrealized Depreciation	(2,665,000		)
Net Unrealized Appreciation	$	5,241,000

(e) Investments are valued using policies described in the notes to financial statements in the most recent shareholder report.

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 (including 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 Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

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

Under the direction of the Fund’s Board of Trustees (the Board), the Investment Manager’s Valuation Committee (the Committee) is responsible for carrying out the valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific  valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of  Board-approved valuation control policies and procedures (the Policies).  The Policies address, among other things, instances  when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third- party pricing vendors, including periodic reviews of vendors.  The Committee meets more frequently, as needed, to discuss  additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or  approve related valuation actions.  The Committee reports to the Board, with members of the Committee meeting with the Board  at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

For investments categorized as Level 3, the Committee monitors information similar to that described above, which may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific  or similar security transactions.  The Committee considers this data and any changes from prior periods in order to assess the  reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and  changes in fair value.  This data is also used to corroborate, when available, information received from approved pricing vendors and brokers.  Various factors impact the frequency of monitoring this information (which may occur as often as daily). However,  the Committee may determine that changes to inputs, assumptions and models are not required as a result of the monitoring procedures performed.

The following table is a summary of the inputs used to value the Fund’s investments at July 31, 2013:

Description	Level 1	Level 2	Level 3
	Quoted Prices in	Other Significant	Significant
	Active Markets for	Observable	Unobservable
	Identical Assets ($)	Inputs ($)	Inputs ($)	Total ($)
Bonds
U.S. Treasury Obligations	338,211,651	—	—	338,211,651
Total Bonds	338,211,651	—	—	338,211,651
Mutual Funds
Money Market Funds	447,431	—	—	447,431
Total Mutual Funds	447,431	—	—	447,431
Total	338,659,082	—	—	338,659,082

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

There were no transfers of financial assets between Levels 1 and 2 during the period.

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 and Principal Executive Officer

Date September 23, 2013

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 and Principal Executive Officer

Date September 23, 2013

By (Signature and Title)	/s/ Michael G. Clarke
	Michael G. Clarke, Treasurer and Chief Financial Officer

Date September 23, 2013