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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, MA					02110
(Address of principal executive offices)					(Zip code)
Ryan Larrenaga 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:		January 31, 2016

Item 1. Schedule of Investments.

Portfolio of Investments

Columbia Bond Fund

January 31, 2016 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes 34.9%
Aerospace & Defense 0.6%
Lockheed Martin Corp.
09/15/21	3.350	%	$	249,000	$	259,797
01/15/23	3.100	%	1,155,000		1,173,721
01/15/26	3.550	%	1,460,000		1,497,861
05/15/36	4.500	%	305,000		316,288
Total					3,247,667
Automotive 2.5%
Ford Motor Credit Co. LLC
06/15/16	3.984	%	1,517,000		1,530,676
02/03/17	4.250	%	1,949,000		1,989,987
06/15/18	2.240	%	2,090,000		2,067,436
10/05/18	2.551	%	1,750,000		1,739,426
01/08/19	2.943	%	1,495,000		1,498,243
01/08/26	4.389	%	1,010,000		1,017,548
Ford Motor Credit Co. LLC (a)
11/08/16	0.794	%	1,785,000		1,773,887
General Motors Financial Co., Inc.
01/15/19	3.100	%	2,080,000		2,062,426
Total					13,679,629
Banking 6.6%
Bank of America Corp.
01/11/23	3.300	%	955,000		940,677
Subordinated
05/02/17	5.700	%	1,465,000		1,526,123
Bank of New York Mellon Corp. (The) Junior Subordinated (a)
12/29/49	4.500	%	1,324,000		1,194,910
Capital One Bank USA NA Subordinated
02/15/23	3.375	%	975,000		952,516
Citigroup, Inc. (a)
08/14/17	0.852	%	5,525,000		5,491,110
Subordinated
06/09/16	0.747	%	2,671,000		2,666,622
Discover Financial Services
04/27/22	5.200	%	260,000		282,881
11/21/22	3.850	%	938,000		957,628
Fifth Third Bancorp Junior Subordinated (a)
12/31/49	5.100	%	1,524,000		1,367,790
HBOS PLC Subordinated (b)
05/21/18	6.750	%	1,395,000		1,524,527
HSBC Holdings PLC
01/14/22	4.875	%	515,000		570,040
ING Bank NV (b)
03/15/16	4.000	%	2,685,000		2,695,800
JPMorgan Chase & Co. Junior Subordinated (a)
12/31/49	6.100	%	1,388,000		1,391,470

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Banking (continued)
JPMorgan Chase Capital XXI Junior Subordinated (a)
02/02/37	1.563	%	$	251,000	$	190,132
KeyCorp Capital I Junior Subordinated (a)
07/01/28	1.352	%	1,785,000		1,463,700
Lloyds Banking Group PLC Subordinated (b)
12/10/25	4.582	%	1,885,000		1,912,294
M&T Bank Corp. Junior Subordinated
12/31/49	6.875	%	1,266,000		1,277,077
PNC Financial Services Group, Inc. (The) Junior Subordinated (a)
12/31/49	4.850	%	1,190,000		1,109,675
Santander Issuances SAU Subordinated
11/19/25	5.179	%	1,000,000		946,141
Santander UK Group Holdings PLC (b)
Subordinated
09/15/25	4.750	%	816,000		809,697
09/15/45	5.625	%	364,000		363,568
Synchrony Financial
01/15/19	2.600	%	820,000		818,768
U.S. Bancorp Subordinated
07/15/22	2.950	%	1,052,000		1,060,922
Wells Fargo & Co. Junior Subordinated (a)
12/31/49	5.900	%	4,093,000		4,128,814
Total					35,642,882
Construction Machinery 0.2%
John Deere Capital Corp. (a)
01/16/18	0.910	%	1,235,000		1,229,580
Consumer Products 0.4%
Procter & Gamble Co. (The) (c)
02/02/21	1.850	%	950,000		953,825
02/02/26	2.700	%	1,030,000		1,032,630
Total					1,986,455
Diversified Manufacturing 2.7%
GE Capital Trust I Subordinated (a)
11/15/67	6.375	%	1,165,000		1,253,103
General Electric Co. (a)
Junior Subordinated
12/31/49	4.200	%	1,813		1,777
12/31/49	5.000	%	10,360,000		10,670,800
Subordinated

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Diversified Manufacturing (continued)
11/15/67	6.375	%	$	2,390,000	$	2,533,400
Total					14,459,080
Electric 4.5%
Alabama Power Co.
04/01/25	2.800	%	540,000		534,763
01/02/46	4.300	%	585,000		599,985
Arizona Public Service Co.
11/15/45	4.350	%	415,000		437,840
Commonwealth Edison Co.
08/01/20	4.000	%	1,235,000		1,319,585
11/15/45	4.350	%	420,000		437,723
DTE Electric Co.
10/01/20	3.450	%	1,255,000		1,326,993
Dominion Resources, Inc.
10/01/25	3.900	%	479,000		484,376
Duke Energy Ohio, Inc.
04/01/19	5.450	%	1,485,000		1,647,261
09/01/23	3.800	%	971,000		1,036,349
Duke Energy Progress, Inc.
08/15/45	4.200	%	490,000		496,106
FPL Energy National Wind LLC (b)
03/10/24	5.608	%	163,906		163,906
Florida Power & Light Co.
12/01/25	3.125	%	860,000		877,350
Georgia Power Co.
06/01/17	5.700	%	990,000		1,048,819
09/01/40	4.750	%	330,000		337,899
MidAmerican Energy Co.
10/15/24	3.500	%	485,000		504,894
Nevada Power Co.
09/15/40	5.375	%	424,000		486,773
Niagara Mohawk Power Corp. (b)
10/01/24	3.508	%	815,000		839,967
Oncor Electric Delivery Co. LLC
06/01/22	4.100	%	1,733,000		1,845,116
04/01/25	2.950	%	1,160,000		1,117,743
04/01/45	3.750	%	206,000		179,708
PPL Capital Funding, Inc.
06/01/18	1.900	%	810,000		808,788
12/01/22	3.500	%	485,000		495,699
06/01/23	3.400	%	1,139,000		1,145,541
PacifiCorp
06/15/21	3.850	%	1,025,000		1,097,006
Pacific Gas & Electric Co.
06/15/23	3.250	%	843,000		857,890
03/01/34	6.050	%	480,000		581,643
Public Service Electric & Gas Co.
06/01/19	1.800	%	560,000		560,808
11/01/45	4.150	%	450,000		462,378
San Diego Gas & Electric Co.
04/01/42	4.300	%	475,000		498,696

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Electric (continued)
Southern California Edison Co.
06/01/21	3.875	%	$	713,000	$	766,968
09/01/40	4.500	%	160,000		169,881
02/01/45	3.600	%	254,000		236,577
Toledo Edison Co. (The)
05/15/37	6.150	%	410,000		470,265
Total					23,875,296
Finance Companies 0.6%
HSBC Finance Corp. Subordinated
01/15/21	6.676	%	1,155,000		1,302,763
Visa, Inc.
12/14/25	3.150	%	1,290,000		1,311,405
12/14/45	4.300	%	450,000		464,447
Total					3,078,615
Food and Beverage 1.8%
Anheuser-Busch InBev Finance, Inc.
02/01/19	1.900	%	1,422,000		1,424,619
02/01/23	3.300	%	800,000		811,966
02/01/26	3.650	%	902,000		914,165
02/01/36	4.700	%	798,000		808,467
02/01/46	4.900	%	405,000		419,407
ConAgra Foods, Inc.
08/15/39	6.625	%	1,605,000		1,762,945
Molson Coors Brewing Co.
05/01/17	2.000	%	2,125,000		2,131,258
05/01/42	5.000	%	725,000		692,481
PepsiCo, Inc.
07/17/45	4.600	%	610,000		651,132
Total					9,616,440
Health Care 0.7%
Becton Dickinson and Co.
03/01/23	3.300	%	390,000		393,782
05/15/24	3.875	%	1,585,000		1,622,354
Medtronic, Inc.
03/15/25	3.500	%	1,875,000		1,925,175
Total					3,941,311
Independent Energy 0.8%
Anadarko Petroleum Corp.
07/15/24	3.450	%	289,000		231,914
Cimarex Energy Co.
06/01/24	4.375	%	915,000		801,000
Kerr-McGee Corp.
07/01/24	6.950	%	813,000		806,855
Noble Energy, Inc.
11/15/24	3.900	%	1,035,000		870,658
11/15/43	5.250	%	496,000		365,790
11/15/44	5.050	%	1,006,000		726,065

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Independent Energy (continued)
Woodside Finance Ltd. (b)
03/05/25	3.650	%	$	714,000	$	624,235
Total					4,426,517
Integrated Energy 0.6%
BP Capital Markets PLC
03/17/22	3.062	%	830,000		814,672
Cenovus Energy, Inc.
08/15/22	3.000	%	176,000		146,246
11/15/39	6.750	%	664,000		510,494
Chevron Corp.
12/05/22	2.355	%	645,000		616,198
Mobil Corp.
08/15/21	8.625	%	940,000		1,207,708
Total					3,295,318
Life Insurance 0.6%
American International Group, Inc.
02/15/24	4.125	%	535,000		534,862
Massachusetts Mutual Life Insurance Co. Subordinated (b)
04/15/65	4.500	%	405,000		377,420
MetLife Capital Trust X Junior Subordinated (a)(b)
04/08/38	9.250	%	575,000		770,500
MetLife, Inc.
11/13/25	3.600	%	148,000		148,620
05/13/46	4.600	%	380,000		371,543
Junior Subordinated
08/01/39	10.750	%	284,000		436,082
Teachers Insurance & Annuity Association of America Subordinated (b)
09/15/44	4.900	%	465,000		479,875
Total					3,118,902
Media and Entertainment 0.5%
Scripps Networks Interactive, Inc.
06/15/22	3.500	%	1,245,000		1,220,220
Walt Disney Co. (The)
02/12/21	2.300	%	1,520,000		1,530,813
Total					2,751,033
Metals 0.1%
BHP Billiton Finance USA Ltd. Junior Subordinated (a)(b)
10/19/75	6.750	%	820,000		770,800
Midstream 1.5%
Columbia Pipeline Group, Inc. (b)
06/01/20	3.300	%	5,000		4,741
06/01/25	4.500	%	943,000		850,598

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Midstream (continued)
06/01/45	5.800	%	$	165,000	$	135,756
Kinder Morgan Energy Partners LP
02/01/19	2.650	%	733,000		678,133
03/01/21	3.500	%	1,585,000		1,401,845
09/01/23	3.500	%	145,000		119,519
Kinder Morgan, Inc.
12/01/17	2.000	%	1,047,000		1,009,872
Plains All American Pipeline LP/Finance Corp.
05/01/19	8.750	%	1,039,000		1,143,593
12/15/19	2.600	%	1,270,000		1,135,262
10/15/25	4.650	%	1,019,000		871,955
02/15/45	4.900	%	295,000		205,607
Southern Natural Gas Co. LLC
03/01/32	8.000	%	729,000		674,458
Total					8,231,339
Natural Gas 1.1%
NiSource Finance Corp.
02/15/23	3.850	%	685,000		710,205
12/15/40	6.250	%	235,000		286,031
Sempra Energy
06/01/16	6.500	%	1,805,000		1,836,802
03/15/20	2.400	%	698,000		681,441
11/15/20	2.850	%	885,000		882,164
10/01/22	2.875	%	974,000		936,417
11/15/25	3.750	%	725,000		726,749
Total					6,059,809
Office REIT 0.1%
Boston Properties LP
02/01/26	3.650	%	310,000		313,211
Oil Field Services 0.2%
Halliburton Co.
11/15/22	3.375	%	165,000		162,059
11/15/25	3.800	%	55,000		51,557
Noble Holding International Ltd.
03/16/18	4.000	%	770,000		614,195
Total					827,811
Other Industry 0.8%
Board of Trustees of the Leland Stanford Junior University (The)
05/01/47	3.460	%	485,000		471,112
President and Fellows of Harvard College
10/01/37	3.619	%	315,000		318,436
President and Fellows of Harvard College (b)
01/15/39	6.500	%	1,075,000		1,523,536
University of Notre Dame du Lac
02/15/45	3.438	%	1,935,000		1,860,911
Total					4,173,995

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Pharmaceuticals 2.6%
Actavis Funding SCS
03/12/20	3.000	%	$	1,035,000	$	1,047,656
03/15/22	3.450	%	315,000		319,647
06/15/24	3.850	%	3,065,000		3,121,561
03/15/35	4.550	%	680,000		669,922
Actavis Funding SCS (a)
09/01/16	1.289	%	770,000		770,566
Forest Laboratories LLC (b)
02/01/19	4.375	%	1,280,000		1,349,992
Gilead Sciences, Inc.
03/01/46	4.750	%	532,000		542,709
Johnson & Johnson
12/05/33	4.375	%	1,242,000		1,369,208
Novartis Capital Corp.
11/20/25	3.000	%	903,000		912,817
11/20/45	4.000	%	789,000		796,896
Roche Holdings, Inc. (b)
09/30/19	2.250	%	2,810,000		2,859,717
Total					13,760,691
Property & Casualty 0.6%
ACE INA Holdings, Inc.
11/03/22	2.875	%	776,000		786,156
05/03/26	3.350	%	1,156,000		1,179,885
Liberty Mutual Group, Inc. (b)
06/01/21	5.000	%	780,000		842,798
Transatlantic Holdings, Inc.
11/30/39	8.000	%	240,000		318,166
Total					3,127,005
Railroads 1.2%
BNSF Funding Trust I Junior Subordinated (a)
12/15/55	6.613	%	919,000		1,024,685
Burlington Northern Santa Fe LLC
03/15/23	3.000	%	100,000		99,722
CSX Corp.
03/15/18	6.250	%	2,065,000		2,256,013
Canadian Pacific Railway Co.
09/15/35	4.800	%	683,000		673,980
09/15/15	6.125	%	539,000		550,712
Union Pacific Corp.
02/01/21	4.000	%	206,000		222,339
03/15/24	3.750	%	1,190,000		1,262,397
02/01/55	3.875	%	165,000		151,640
Total					6,241,488
Retail REIT 0.4%
Kimco Realty Corp.
11/01/22	3.400	%	873,000		883,005
06/01/23	3.125	%	977,000		957,761

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Retail REIT (continued)
Simon Property Group LP
01/15/26	3.300	%	$	522,000	$	521,913
Total					2,362,679
Retailers 0.8%
CVS Health Corp. (b)
12/01/22	4.750	%	1,616,000		1,764,554
CVS Pass-Through Trust (b)
08/11/36	4.163	%	1,443,951		1,414,293
Wal-Mart Stores, Inc.
08/15/37	6.500	%	930,000		1,217,436
Total					4,396,283
Supermarkets 0.2%
Whole Foods Market, Inc. (b)
12/03/25	5.200	%	835,000		836,336
Supranational 0.4%
European Investment Bank
05/30/17	5.125	%	2,245,000		2,370,399
Technology 0.2%
Hewlett Packard Enterprise Co. (b)
10/15/35	6.200	%	460,000		414,848
10/15/45	6.350	%	538,000		486,650
Total					901,498
Tobacco 0.1%
Imperial Tobacco Finance PLC (b)
07/20/18	2.050	%	424,000		424,514
Transportation Services 0.3%
ERAC U.S.A. Finance LLC (b)
11/01/25	3.800	%	915,000		913,184
FedEx Corp.
11/15/45	4.750	%	685,000		675,188
Total					1,588,372
Wirelines 1.2%
AT&T, Inc.
12/15/42	4.300	%	505,000		416,689
05/15/46	4.750	%	400,000		354,674
AT&T, Inc. (c)
02/17/26	4.125	%	1,005,000		1,004,337
DIRECTV Holdings LLC/Financing Co., Inc.
03/15/22	3.800	%	858,000		866,860
04/01/24	4.450	%	730,000		746,667
Verizon Communications, Inc.
11/01/21	3.000	%	623,000		626,908
09/15/23	5.150	%	1,201,000		1,328,666

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Wirelines (continued)
03/15/34	5.050	%	$	917,000	$	894,181
09/15/43	6.550	%	235,000		274,352
Total					6,513,334
Total Corporate Bonds & Notes (Cost: $186,603,621)					$	187,248,289
Residential Mortgage-Backed Securities - Agency 30.0%
Federal Home Loan Mortgage Corp.
09/01/16	9.500	%	21		21
03/01/21-05/01/41	5.000	%	1,397,700		1,555,780
09/01/25-10/01/29	7.500	%	37,545		43,771
11/01/25-12/01/35	7.000	%	267,262		312,587
06/01/26	8.000	%	575		663
Federal National Mortgage Association
10/01/20-12/01/20	10.000	%	35,958		36,756
08/01/29-09/01/45	3.000	%	14,678,135		15,189,795
10/01/29	7.500	%	18,175		22,453
12/01/29-05/01/30	8.000	%	105,926		123,934
01/01/31	2.500	%	1,761,732		1,804,174
06/01/32	7.000	%	10,598		11,198
07/01/38	6.000	%	2,949,670		3,342,072
08/01/40	4.500	%	7,080,579		7,718,430
09/01/40	5.000	%	2,301,673		2,544,102
05/01/43-08/01/45	3.500	%	15,112,490		15,876,079
09/01/44	4.000	%	19,069,872		20,391,865
CMO Series 2013-121 Class KD
08/25/41	3.500	%	7,087,057		7,428,603
Federal National Mortgage Association (c)
02/17/31	2.500	%	4,100,000		4,192,009
02/17/31	3.000	%	6,000,000		6,252,632
02/17/31-02/11/46	3.500	%	17,300,000		18,156,040
02/11/46	4.000	%	10,170,000		10,865,101
02/11/46	4.500	%	12,750,000		13,859,648
Federal National Mortgage Association (d)
01/01/40	5.500	%	4,138,090		4,617,175
Government National Mortgage Association
05/15/16	10.000	%	136		136
01/15/17-12/15/17	8.500	%	37,468		38,407
11/15/17-06/15/30	9.000	%	39,479		41,843
11/15/17-08/15/20	9.500	%	40,003		41,692
11/15/22-02/15/30	7.000	%	119,691		134,306
05/15/23-12/15/31	6.500	%	103,040		118,049

Issuer	Coupon Rate		Principal Amount		Value
Residential Mortgage-Backed Securities - Agency (continued)
06/15/25-01/15/30	8.000	%	$	136,913	$	155,878
04/15/26-03/15/30	7.500	%	161,480		170,453
03/20/28	6.000	%	51,819		59,976
09/20/42-05/20/43	3.500	%	8,373,389		8,856,712
Government National Mortgage Association (a)
07/20/21	2.000	%	13,646		14,005
04/20/22-06/20/28	1.750	%	111,267		115,013
07/20/22	1.875	%	19,033		19,563
Government National Mortgage Association (c)
02/22/46	3.000	%	8,150,000		8,405,959
02/22/46	3.500	%	3,550,000		3,744,141
02/22/46	4.000	%	4,375,000		4,673,132
Vendee Mortgage Trust (a)(e)
CMO IO Series 1998-1 Class 2IO
03/15/28	0.330	%	2,385,802		19,175
CMO IO Series 1998-3 Class IO
03/15/29	0.155	%	3,061,505		3,919
Total Residential Mortgage-Backed Securities - Agency (Cost: $158,979,778)					$	160,957,247
Residential Mortgage-Backed Securities - Non-Agency 2.6%
American Mortgage Trust Series 2093-3 Class 3A (a)(f)(g)
07/27/23	8.188	%	4,426		2,684
BCAP LLC Trust CMO Series 2012-RR10 Class 9A1 (a)(b)
10/26/35	2.788	%	2,160,127		2,171,533
Citigroup Mortgage Loan Trust, Inc. CMO Series 2015-A Class A4 (a)
06/25/58	4.250	%	811,123		842,056
Credit Suisse Mortgage Capital Certificates (a)(b)
CMO Series 2011-16R Class 7A3
12/27/36	3.500	%	299,647		300,058
Credit Suisse Mortgage Capital Certificates (b)
CMO Series 2011-17R Class 2A1
12/27/37	3.400	%	120,374		120,540
Jefferies Resecuritization Trust CMO Series 2009-R6 Class 6A1 (a)(b)
10/26/35	2.735	%	1,393,829		1,414,794
New Residential Mortgage Loan Trust (b)
CMO Series 2014-1A Class A
01/25/54	3.750	%	1,947,737		2,001,022
Series 2014-2A Class A3
05/25/54	3.750	%	1,057,238		1,085,078
RBSSP Resecuritization Trust CMO Series 2010-1 Class 3A1 (a)(b)
08/26/35	2.783	%	2,929,516		2,938,463

Issuer	Coupon Rate		Principal Amount		Value
Residential Mortgage-Backed Securities - Non-Agency (continued)
WaMu Mortgage Pass-Through Certificates CMO Series 2003-AR8 Class A (a)
08/25/33	2.478	%	$	2,739,484	$	2,795,939
Total Residential Mortgage-Backed Securities - Non-Agency (Cost: $13,799,246)					$	13,672,167
Commercial Mortgage-Backed Securities - Non-Agency 8.1%
American Homes 4 Rent Trust (b)
Series 2014-SFR2 Class A
10/17/36	3.786	%	2,674,208		2,746,646
Series 2014-SFR3 Class A
12/17/36	3.678	%	3,051,217		3,109,672
Series 2015-SFR2 Class A
10/17/45	3.732	%	268,869		274,248
American Homes 4 Rent Series 2015-SFR1 Class A (b)
04/17/52	3.467	%	4,538,076		4,550,890
Colony Multifamily Mortgage Trust Series 2014-1 Class A (b)
04/20/50	2.543	%	4,376,933		4,388,837
Commercial Mortgage Trust
Series 2007-C9 Class AM
12/10/49	5.650	%	4,835,000		5,063,118
Series 2015-CR22 Class A5
03/10/48	3.309	%	685,000		691,551
Series 2015-LC19 Class A4
02/10/48	3.183	%	765,000		767,656
DBUBS Mortgage Trust Series 2011-LC2A Class A4 (b)
07/10/44	4.537	%	2,560,000		2,798,027
GS Mortgage Securities Trust Series 2015-GC34 Class A4
10/10/48	3.506	%	925,000		944,297
Invitation Homes Trust Series 2015-SFR3 Class A (a)(b)
08/17/32	1.726	%	1,908,360		1,865,417
JPMBB Commercial Mortgage Securities Trust Series 2015-C27 Class A4
02/15/48	3.179	%	700,000		697,919
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2012-C6 Class A3
05/15/45	3.507	%	1,455,000		1,532,034
JPMorgan Chase Commercial Mortgage Securities Trust (a)
Series 2006-CB14 Class AM
12/12/44	5.699	%	152,503		152,368
LB Commercial Mortgage Trust Series 2007-C3 Class AM (a)
07/15/44	6.096	%	5,048,000		5,289,522

Issuer	Coupon Rate		Principal Amount		Value
Commercial Mortgage-Backed Securities - Non-Agency (continued)
LB-UBS Commercial Mortgage Trust Series 2007-C2 Class A3
02/15/40	5.430	%	$	1,096,299	$	1,120,551
Merrill Lynch Mortgage Investors Trust CMO IO Series 1998-C3 Class IO (a)(e)
12/15/30	1.076	%	326,740		4,094
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C20 Class A3
02/15/48	2.988	%	495,000		488,185
Morgan Stanley Re-Remic Trust (a)(b)
Series 2009-GG10 Class A4B
08/12/45	5.988	%	1,335,000		1,380,957
Series 2010-GG10 Class A4B
08/15/45	5.988	%	715,000		742,429
WF-RBS Commercial Mortgage Trust Series 2014-C24 Class A5
11/15/47	3.607	%	620,000		642,922
Wells Fargo Commercial Mortgage Trust
Series 2015-C26 Class A4
02/15/48	3.166	%	1,000,000		997,294
Series 2015-C27 Class A4
02/15/48	3.190	%	1,490,000		1,493,025
Series 2015-LC20 Class A4
04/15/50	2.925	%	1,647,000		1,615,981
Series 2015-LC20 Class A5
04/15/50	3.184	%	300,000		299,329
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost: $44,505,714)					$	43,656,969
Asset-Backed Securities - Agency 1.2%
United States Small Business Administration
Series 2012-20G Class 1
07/01/32	2.380	%	326,327		329,660
Series 2012-20I Class 1
09/01/32	2.200	%	368,322		370,453
Series 2012-20J Class 1
10/01/32	2.180	%	1,307,312		1,310,996
Series 2012-20L Class 1
12/01/32	1.930	%	350,216		345,823
Series 2013-20E Class 1
05/01/33	2.070	%	205,219		203,482
Series 2013-20G Class 1
07/01/33	3.150	%	704,474		734,519
Series 2013-20L Class 1
12/01/33	3.380	%	285,894		301,856
Series 2014-20C Class 1
03/01/34	3.210	%	383,442		402,696
Series 2014-20D Class 1
04/01/34	3.110	%	1,210,444		1,267,580
Series 2014-20F Class 1
06/01/34	2.990	%	744,766		772,268
Series 2015-20C Class 1

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Agency (continued)
03/01/35	2.720	%	$	106,585	$	108,567
Total Asset-Backed Securities - Agency (Cost: $5,892,986)					$	6,147,900
Asset-Backed Securities - Non-Agency 13.3%
ARI Fleet Lease Trust Series 2014-A Class A2 (b)
11/15/22	0.810	%	1,708,613		1,706,264
Ascentium Equipment Receivables LLC Series 2015-2A Class A2 (b)
12/11/17	1.570	%	470,000		467,869
Ascentium Equipment Receivables Series 2015-1A Class A2 (b)
07/10/17	1.150	%	681,428		680,205
Avis Budget Rental Car Funding AESOP LLC Series 2015-2A Class A (b)
12/20/21	2.630	%	1,195,000		1,208,205
Cabela’s Credit Card Master Note Trust
Series 2015-2 Class A1
07/17/23	2.250	%	990,000		999,421
Cabela’s Credit Card Master Note Trust (a)(b)
Series 2012-1A Class A2
02/18/20	0.956	%	635,000		635,491
Cabela’s Master Credit Card Trust Series 2014-1 Class A (a)
03/16/20	0.776	%	715,000		713,733
Capital One Multi-Asset Execution Trust
Series 2015-A2 Class A2
03/15/23	2.080	%	3,405,000		3,435,907
Series 2015-A8 Class A8
08/15/23	2.050	%	1,075,000		1,077,616
CarMax Auto Owner Trust Series 2015-3 Class A3
05/15/20	1.630	%	1,295,000		1,297,359
Chase Issuance Trust Series 2012-A4 Class A4
08/16/21	1.580	%	860,000		861,575
Chesapeake Funding LLC (a)(b)
Series 2011-2A Class A
04/07/24	1.672	%	596,867		601,483
Series 2012-2A Class A
05/07/24	0.872	%	279,103		279,001
Series 2013-1A Class A
01/07/25	0.872	%	512,287		512,084
Citibank Credit Card Issuance Trust
Series 2014-A1 Class A1
01/23/23	2.880	%	3,455,000		3,614,855
Series 2014-A5 Class A5
06/07/23	2.680	%	730,000		753,570
Series 2014-A6 Class A6
07/15/21	2.150	%	475,000		484,337
Citigroup Mortgage Loan Trust, Inc. Series 2005-WF2 Class MF1 (a)
08/25/35	5.331	%	165,547		494

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
Dell Equipment Finance Trust Series 2015-2 Class A2B (a)(b)
12/22/17	1.325	%	$	250,000	$	250,022
Discover Card Execution Note Trust
Series 2012-A6 Class A6
01/18/22	1.670	%	480,000		480,345
Series 2015-A2 Class A
10/17/22	1.900	%	4,750,000		4,770,302
Enterprise Fleet Financing LLC (b)
Series 2013-2 Class A2
03/20/19	1.060	%	568,986		568,872
Series 2015-1 Class A2
09/20/20	1.300	%	1,230,259		1,226,755
Series 2015-2 Class A2
02/22/21	1.590	%	840,000		842,198
Ford Credit Auto Owner Trust (b)
Series 2014-2 Class A
04/15/26	2.310	%	2,095,000		2,123,197
Series 2015-1 Class A
07/15/26	2.120	%	3,365,000		3,381,547
Series 2015-2 Class A
01/15/27	2.440	%	970,000		984,717
Ford Credit Floorplan Master Owner Trust Series 2013-2 Class A (b)
03/15/22	2.090	%	1,570,000		1,595,368
GE Dealer Floorplan Master Note Trust Series 2012-2 Class A (a)
04/22/19	1.176	%	735,000		735,839
GM Financial Automobile Leasing Trust
Series 2015-3 Class A3
03/20/19	1.690	%	625,000		624,849
GM Financial Automobile Leasing Trust (a)
Series 2015-2 Class A2B
04/20/18	0.846	%	1,002,982		1,002,172
Golden Credit Card Trust Series 2015-3A Class A (a)(b)
07/15/19	0.846	%	3,125,000		3,116,052
GreatAmerica Leasing Receivables Funding LLC Series 2015-1 Class A2 (b)
06/20/17	1.120	%	1,242,804		1,241,180
Green Tree Agency Advance Funding Trust I Series 2015-T1 Class AT1 (b)
10/15/46	2.302	%	990,000		988,386
Hertz Fleet Lease Funding LP (a)(b)
Series 2013-3 Class A
12/10/27	0.974	%	1,643,323		1,644,670
Series 2014-1 Class A
04/10/28	0.824	%	427,175		427,370
Hertz Vehicle Financing II LP Series 2015-3A Class A (b)
09/25/21	2.670	%	1,000,000		1,006,110
Huntington Auto Trust Series 2015-1 Class A2
10/16/17	0.760	%	764,241		763,688

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
Hyundai Floorplan Master Owner Trust Series 2013-1A Class A (a)(b)
05/15/18	0.776	%	$	3,675,000	$	3,675,230
MMAF Equipment Finance LLC Series 2014-AA Class A2 (b)
04/10/17	0.520	%	793,729		793,272
NRZ Advance Receivables Trust (b)
Series 2015-T1 Class AT1
08/15/46	2.315	%	1,290,000		1,289,597
Series 2015-T3 Class AT3
11/15/46	2.540	%	1,320,000		1,324,140
Navitas Equipment Receivables LLC Series 2015-1 Class A2 (b)
11/15/18	2.120	%	2,305,000		2,313,161
New York City Tax Lien Trust (b)
Series 2014-A Class A
11/10/27	1.030	%	138,490		138,310
Series 2015-A Class A
11/10/28	1.340	%	871,885		870,250
Nissan Auto Receivables Owner Trust Series 2015-A Class A1 (a)
01/15/20	0.826	%	2,140,000		2,137,312
Ocwen Master Advance Receivables Trust Series 2015-1 Class AT1 (b)
09/17/46	2.537	%	775,000		774,884
PFS Tax Lien Trust Series 2014-1 Class NOTE (b)
04/15/16	1.440	%	606,563		605,813
SLM Student Loan Trust Series 2014-2 Class A1 (a)
07/25/19	0.677	%	379,983		379,508
SMART ABS Series Trust Series 2015-3US Class A2B (a)
04/16/18	1.175	%	645,000		645,001
SPS Servicer Advance Receivables Trust Series 2015-T2 Class AT2 (b)
01/15/47	2.620	%	760,000		760,261
USAA Auto Owner Trust Series 2015-1 Class A2
03/15/18	0.820	%	4,735,000		4,730,637
Wheels SPV 2 LLC Series 2015-1A Class A2 (b)
04/22/24	1.270	%	260,000		260,661
World Financial Network Credit Card Master Trust
Series 2012-D Class A
04/17/23	2.150	%	790,000		799,196
Series 2015-B Class A
06/17/24	2.550	%	1,815,000		1,852,713

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
World Omni Automobile Lease Securitization Trust Series 2015-A Class A3
10/15/18	1.540	%	$	830,000	$	830,357
Total Asset-Backed Securities - Non-Agency (Cost: $71,098,574)					$	71,283,411
U.S. Treasury Obligations 16.2%
U.S. Treasury
04/15/16	0.250	%	25,920,000		25,910,643
12/15/18	1.250	%	2,122,000		2,139,241
01/15/19	1.125	%	170,000		170,744
12/31/20	1.750	%	3,194,000		3,256,882
12/31/22	2.125	%	2,667,000		2,747,949
11/15/25	2.250	%	12,449,400		12,804,892
08/15/45	2.875	%	15,803,900		16,152,076
U.S. Treasury (h)
STRIPS
11/15/18	0.000	%	7,057,000		6,865,120
11/15/19	0.000	%	4,135,000		3,945,009
02/15/40	0.000	%	14,141,000		7,319,919
11/15/41	0.000	%	5,013,000		2,433,370
05/15/43	0.000	%	7,022,000		3,214,454
Total U.S. Treasury Obligations (Cost: $82,522,227)					$	86,960,299
U.S. Government & Agency Obligations 1.7%
Residual Funding Corp. (h)
STRIPS
10/15/19	0.000	%	305,000		288,737
01/15/21	0.000	%	6,730,000		6,155,736
01/15/30	0.000	%	3,232,000		2,148,262
04/15/30	0.000	%	455,000		299,997
Total U.S. Government & Agency Obligations (Cost: $8,303,537)					$	8,892,732
Foreign Government Obligations(i)  1.7%
Colombia —%
Colombia Government International Bond
01/18/41	6.125	%	235,000		217,720
France 0.4%
Electricite de France SA (b)
10/13/55	5.250	%	1,845,000		1,838,609
Mexico 0.7%
Mexico Government International Bond
03/15/22	3.625	%	1,536,000		1,543,680
03/08/44	4.750	%	80,000		72,400
Petroleos Mexicanos
03/01/18	5.750	%	1,935,000		1,976,216

Issuer	Coupon Rate		Principal Amount		Value
Foreign Government Obligations (i) (continued)
Mexico (continued)
06/15/35	6.625	%	$	435,000	$	385,066
Total					3,977,362
Panama 0.1%
Panama Government International Bond
01/26/36	6.700	%	270,000		322,650
Peru 0.1%
Peruvian Government International Bond
03/14/37	6.550	%	285,000		328,462
Philippines —%
Philippine Government International Bond
10/23/34	6.375	%	100,000		136,530
Qatar 0.4%
Nakilat, Inc. (b)
12/31/33	6.067	%	1,592,000		1,671,600
Ras Laffan Liquefied Natural Gas Co., Ltd. III (b)
09/30/16	5.832	%	350,776		356,878
Total					2,028,478
Uruguay —%
Uruguay Government International Bond
11/20/45	4.125	%	165,000		127,875
Total Foreign Government Obligations (Cost: $8,893,051)					$	8,977,686
Issue Description	Coupon Rate		Principal Amount		Value
Municipal Bonds 2.3%
California 1.1%
Los Angeles Unified School District Unlimited General Obligation Bonds Taxable Build America Bonds Series 2009
07/01/34	5.750	%	2,485,000		3,069,944
State of California Unlimited General Obligation Bonds Taxable Build America Bonds Series 2009
04/01/39	7.550	%	1,720,000		2,534,781
Total					5,604,725
Illinois 0.7%
City of Chicago Waterworks

Issue Description	Coupon Rate		Principal Amount		Value
Municipal Bonds (continued)
Illinois (continued)
Refunding Revenue Bonds
2nd Lien
Series 2012
11/01/42	5.000	%	$	635,000	$	678,821
Revenue Bonds
Build America Bonds
Series 2010
11/01/40	6.742	%	865,000		1,002,959
City of Chicago Unlimited General Obligation Taxable Bonds Series 2015B
01/01/33	7.375	%	200,000		206,664
State of Illinois Unlimited General Obligation Bonds Taxable Series 2011
03/01/16	4.961	%	2,080,000		2,086,340
Total					3,974,784
Kentucky 0.2%
Kentucky Asset Liability Commission Taxable Revenue Bonds Series 2010
04/01/18	3.165	%	1,279,855		1,301,548
Ohio 0.3%
JobsOhio Beverage System Taxable Revenue Bonds Series 2013-B
01/01/35	4.532	%	1,310,000		1,436,874
Total Municipal Bonds (Cost: $10,484,415)					$	12,317,931
Issuer	Coupon Rate		Principal Amount		Value
Preferred Debt 0.4%
Banking 0.3%
PNC Financial Services Group, Inc. (The) (a)
12/31/49	6.125	%	33,225		$	926,313
U.S. Bancorp (a)
12/31/49	6.500	%	31,750		905,828
Total					1,832,141
Property & Casualty 0.1%
Allstate Corp. (The) (a)
01/15/53	5.100	%	13,575		343,583
Total Preferred Debt (Cost: $2,004,486)					$	2,175,724

Issuer	Shares	Value
Common Stocks —%
CONSUMER STAPLES —%
Beverages —%
Crimson Wine Group Ltd. (j)	3	$	24
TOTAL CONSUMER STAPLES		24
FINANCIALS —%
Diversified Financial Services —%
Leucadia National Corp.	39	646
TOTAL FINANCIALS		646
Total Common Stocks (Cost: $—)		$	670

	Shares	Value
Money Market Funds —%
Columbia Short-Term Cash Fund, 0.360% (k)(l)	2,366	$	2,366
Total Money Market Funds (Cost: $2,366)		$	2,366
Total Investments
(Cost: $593,090,001) (m)		$	602,293,391(n)
Other Assets & Liabilities, Net		(66,383,965)
Net Assets		$	535,909,426

At January 31, 2016, securities and cash totaling $895,269 were pledged as collateral.

Investments in Derivatives

Futures Contracts Outstanding at January 31, 2016

Long Futures Contracts Outstanding

Contract Description	Number of Contracts	Trading Currency	Notional Market Value ($)	Expiration Date	Unrealized Appreciation ($)	Unrealized Depreciation ($)
US 10YR NOTE (CBT)	13	USD	1,684,516	03/2016	—	(635	)
US 10YR NOTE (CBT)	82	USD	10,625,406	03/2016	241,843	—
US 2YR NOTE (CBT)	295	USD	64,494,375	03/2016	124,171	—
US 5YR NOTE (CBT)	86	USD	10,377,781	03/2016	35,116	—
US 5YR NOTE (CBT)	178	USD	21,479,594	03/2016	157,901	—
Total			108,661,672		559,031	(635	)

Short Futures Contracts Outstanding

Contract Description	Number of Contracts		Trading Currency	Notional Market Value ($)		Expiration Date	Unrealized Appreciation ($)	Unrealized Depreciation ($)
US 10yr Ultra Fut	(33	)	USD	(4,606,594	)	03/2016	—	(41,218	)
US 10yr Ultra Fut	(83	)	USD	(11,586,281	)	03/2016	—	(122,925	)
US LONG BOND(CBT)	(11	)	USD	(1,771,344	)	03/2016	—	(69,303	)
US LONG BOND(CBT)	(36	)	USD	(5,797,125	)	03/2016	—	(281,690	)
US ULTRA BOND CBT	(4	)	USD	(664,750	)	03/2016	—	(34,680	)
US ULTRA BOND CBT	(90	)	USD	(14,956,875	)	03/2016	—	(465,441	)
Total				(39,382,969	)		—	(1,015,257	)

Credit Default Swap Contracts Outstanding at January 31, 2016

Buy Protection

Counterparty	Reference Entity	Expiration Date	Pay Fixed Rate (%)	Notional Amount ($)	Market Value ($)		Unamortized Premium (Paid) Received ($)		Periodic Payments Receivable (Payable) ($)		Unrealized Appreciation ($)	Unrealized Depreciation ($)
Citi	McDonald’s Corp.	12/20/2020	1.000	1,670,000	(58,893	)	43,219		(1,855	)	—	(17,529	)
Goldman Sachs International	Bank of America Corp.	12/20/2020	1.000	1,335,000	(4,101	)	3,081		(1,483	)	—	(2,503	)
Goldman Sachs International	Bank of America Corp.	12/20/2020	1.000	1,630,000	(5,007	)	19,702		(1,811	)	12,884	—
Goldman Sachs International	Barclays Bank, PLC	12/20/2020	1.000	675,000	(7,109	)	13,252		(750	)	5,393	—
Goldman Sachs International	Citigroup, Inc.	12/20/2020	1.000	1,335,000	(1,576	)	(3,069	)	(1,483	)	—	(6,128	)

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	Morgan Stanley	12/20/2020	1.000	400,000	(472	)	(920	)	(444	)	—	(1,836	)
Goldman Sachs International	Morgan Stanley	12/20/2020	1.000	1,870,000	(2,205	)	(6,018	)	(2,078	)	—	(10,301	)
Goldman Sachs International	Morgan Stanley	12/20/2020	1.000	1,340,000	(1,580	)	(7,382	)	(1,489	)	—	(10,451	)
JPMorgan	Goldman Sachs Group, Inc.	12/20/2020	1.000	1,335,000	(1,574	)	(4,296	)	(1,484	)	—	(7,354	)
JPMorgan	Morgan Stanley	12/20/2020	1.000	13,385,000	(15,786	)	37,045		(14,872	)	6,387	—
Morgan Stanley	Goldman Sachs Group, Inc.	12/20/2020	1.000	6,680,000	(7,877	)	(15,353	)	(7,422	)	—	(30,652	)
Morgan Stanley	Goldman Sachs Group, Inc.	12/20/2020	1.000	805,000	(949	)	(4,067	)	(895	)	—	(5,911	)
Morgan Stanley*	Markit CDX North America Investment Grade Index, Series 25	12/20/2020	1.000	12,245,000	(16,773	)	—		(13,605	)	—	(30,378	)
Total											24,664	(123,043	)

*Centrally cleared swap contract

Notes to Portfolio of Investments

(a)	Variable rate security.
(b)	Represents privately placed and other securities and instruments exempt from SEC registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. The Fund may invest in private placements determined to be liquid as well as those determined to be illiquid. Private placements may be determined to be liquid under guidelines established by the Fund’s Board of Trustees.  At January 31, 2016, the value of these securities amounted to $99,202,429 or 18.51% of net assets.
(c)	Security, or a portion thereof, has been purchased on a when-issued or delayed delivery basis.
(d)	This security or a portion of this security has been pledged as collateral in connection with derivative contracts.
(e)	Interest Only (IO) represents the right to receive the monthly interest payments on an underlying pool of mortgage loans.
(f)	Identifies securities considered by the Investment Manager to be illiquid and may be difficult to sell. The aggregate value of such securities at January 31, 2016 was $2,684, which represents less than 0.01% of net assets.  Information concerning such security holdings at January 31, 2016 is as follows:

Security Description	Acquisition Dates	Cost ($)
American Mortgage Trust
Series 2093-3 Class 3A
07/27/23 8.188%	10-22-2010 - 10-12-2011	3,015

(g)	Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At January 31, 2016, the value of these securities amounted to $2,684, which represents less than 0.01% of net assets.
(h)	Zero coupon bond.
(i)	Principal and interest may not be guaranteed by the government.
(j)	Non-income producing investment.
(k)	The rate shown is the seven-day current annualized yield at January 31, 2016.
(l)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended January 31, 2016 are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds From Sales ($)		Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	1,697,752	120,647,142	(122,342,528	)	2,366	2,874	2,366

(m) At January 31, 2016, the cost of securities for federal income tax purposes was approximately $593,090,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	13,536,000
Unrealized Depreciation	(4,333,000		)
Net Unrealized Appreciation	$	9,203,000

(n) Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Abbreviation Legend
CMO	Collateralized Mortgage Obligation

STRIPS Separate Trading of Registered Interest and Principal Securities

Currency Legend
USD	US Dollar

Fair Value Measurements

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

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

·Level 1 - Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (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 overseeing 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 January 31, 2016:

	Level 1 Quoted Prices in Active Markets for Identical Assets ($)		Level 2 Other Significant Observable Inputs ($)		Level 3 Significant Unobservable Inputs ($)	Total ($)
Investments
Corporate Bonds & Notes	—		187,248,289		—	187,248,289
Residential Mortgage-Backed Securities - Agency	—		160,957,247		—	160,957,247
Residential Mortgage-Backed Securities - Non-Agency	—		13,669,483		2,684	13,672,167
Commercial Mortgage-Backed Securities - Non-Agency	—		43,656,969		—	43,656,969
Asset-Backed Securities - Agency	—		6,147,900		—	6,147,900
Asset-Backed Securities - Non-Agency	—		70,523,150		760,261	71,283,411
U.S. Treasury Obligations	63,182,427		23,777,872		—	86,960,299
U.S. Government & Agency Obligations	—		8,892,732		—	8,892,732
Foreign Government Obligations	—		8,977,686		—	8,977,686
Municipal Bonds	—		12,317,931		—	12,317,931
Preferred Debt	2,175,724		—		—	2,175,724
Common Stocks
Consumer Staples	24		—		—	24
Financials	646		—		—	646
Total Common Stocks	670		—		—	670
Money Market Funds	—		2,366		—	2,366
Total Investments	65,358,821		536,171,625		762,945	602,293,391
Derivatives
Assets
Futures Contracts	559,031		—		—	559,031
Swap Contracts	—		24,664		—	24,664
Liabilities
Futures Contracts	(1,015,892	)	—		—	(1,015,892	)
Swap Contracts	—		(123,043	)	—	(123,043	)
Total	64,901,960		536,073,246		762,945	601,738,151

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 valued based upon utilizing observable market inputs, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets and/or fund per share market values which are not considered publicly available.

Derivative instruments are valued at unrealized appreciation (depreciation).

Financial assets were transferred from Level 1 to Level 2 as the market for these assets is not considered publicly available. Fund per share market values were obtained using observable market inputs.

The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:

Transfers In		Transfers Out
Level 1 ($)	Level 2 ($)	Level 1 ($)	Level 2 ($)
-	1,697,752	1,697,752	-

Transfers between Level 1 and Level 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

The Fund does not hold any significant investments (greater than one percent of net assets) 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 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, single market quotations, observable transactions for identical or similar assets in the market and the distressed nature of the security. The appropriateness of fair values for these securities is monitored on an ongoing basis which may include results of back testing, manual price reviews and other control procedures. Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.

There were no transfers of financial assets between Levels 2 and 3 during the period.

Portfolio of Investments

Columbia Corporate Income Fund

January 31, 2016 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes 93.2%
Aerospace & Defense 1.7%
L-3 Communications Corp.
02/15/21	4.950	%	$	2,543,000	$	2,643,685
05/28/24	3.950	%	5,911,000		5,616,827
Lockheed Martin Corp.
03/01/45	3.800	%	6,428,000		5,833,847
Northrop Grumman Corp.
08/01/23	3.250	%	5,251,000		5,352,045
TransDigm, Inc.
07/15/21	7.500	%	278,000		283,560
TransDigm, Inc. (a)
05/15/25	6.500	%	250,000		240,313
Total					19,970,277
Automotive 0.1%
Schaeffler Finance BV (a)
05/15/21	4.250	%	625,000		620,313
Banking 0.1%
Ally Financial, Inc.
05/19/22	4.625	%	964,000		964,000
09/30/24	5.125	%	603,000		611,291
Washington Mutual Bank Subordinated (b)(c)(d)
01/15/15	5.125	%	6,350,000		9,525
Total					1,584,816
Brokerage/Asset Managers/Exchanges 0.1%
E*TRADE Financial Corp.
11/15/22	5.375	%	427,000		449,418
09/15/23	4.625	%	358,000		352,630
National Financial Partners Corp. (a)
07/15/21	9.000	%	138,000		124,200
Total					926,248
Building Materials 0.3%
Allegion PLC
09/15/23	5.875	%	111,000		114,608
Allegion US Holding Co., Inc.
10/01/21	5.750	%	327,000		340,080
American Builders & Contractors Supply Co., Inc. (a)
04/15/21	5.625	%	627,000		638,756
Beacon Roofing Supply, Inc. (a)
10/01/23	6.375	%	112,000		115,500
HD Supply, Inc.
07/15/20	7.500	%	617,000		641,680
HD Supply, Inc. (a)
12/15/21	5.250	%	315,000		324,056
Nortek, Inc.
04/15/21	8.500	%	747,000		771,278

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Building Materials (continued)
RSI Home Products, Inc. (a)
03/15/23	6.500	%	$	264,000	$	271,260
Total					3,217,218
Cable and Satellite 1.2%
Altice US Finance I Corp. (a)
07/15/23	5.375	%	321,000		322,605
CCO Holdings LLC/Capital Corp. (a)
05/01/25	5.375	%	341,000		337,590
CCOH Safari LLC (a)
02/15/26	5.750	%	481,000		478,292
CSC Holdings LLC
02/15/19	8.625	%	425,000		452,625
06/01/24	5.250	%	420,000		370,650
Cequel Communications Holdings I LLC/Capital Corp. (a)
09/15/20	6.375	%	413,000		399,061
12/15/21	5.125	%	182,000		163,800
07/15/25	7.750	%	251,000		229,665
DISH DBS Corp.
11/15/24	5.875	%	805,000		717,456
DigitalGlobe, Inc. (a)
02/01/21	5.250	%	276,000		241,500
Intelsat Jackson Holdings SA
10/15/20	7.250	%	690,000		593,400
Intelsat Luxembourg SA
06/01/21	7.750	%	251,000		109,185
NBCUniversal Media LLC
01/15/43	4.450	%	2,495,000		2,452,775
Neptune Finco Corp. (a)
10/15/25	6.625	%	562,000		579,562
10/15/25	10.875	%	344,000		365,070
Time Warner Cable, Inc.
09/15/42	4.500	%	4,734,000		3,767,227
UPCB Finance IV Ltd. (a)
01/15/25	5.375	%	343,000		329,280
Unitymedia GmbH (a)
01/15/25	6.125	%	368,000		373,594
Unitymedia Hessen GmbH & Co. KG NRW (a)
01/15/25	5.000	%	439,000		437,902
Videotron Ltd.
07/15/22	5.000	%	286,000		288,503
Virgin Media Finance PLC (a)
01/15/25	5.750	%	681,000		674,190
Virgin Media Secured Finance PLC (a)
01/15/26	5.250	%	506,000		500,940
Total					14,184,872
Chemicals 1.0%
Angus Chemical Co. (a)
02/15/23	8.750	%	437,000		413,511

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Chemicals (continued)
Axalta Coating Systems Dutch Holding B BV/U.S. Holdings, Inc. (a)
05/01/21	7.375	%	$	290,000	$	303,050
Celanese U.S. Holdings LLC
06/15/21	5.875	%	293,000		310,580
Chemours Co. LLC (The) (a)
05/15/23	6.625	%	637,000		390,162
05/15/25	7.000	%	185,000		112,850
Dow Chemical Co. (The)
11/15/42	4.375	%	3,590,000		3,057,388
10/01/44	4.625	%	541,000		479,873
Eco Services Operations LLC/Finance Corp. (a)
11/01/22	8.500	%	398,000		346,260
INEOS Group Holdings SA (a)
02/15/19	5.875	%	363,000		353,018
LYB International Finance BV
03/15/44	4.875	%	4,255,000		3,658,347
NOVA Chemicals Corp. (a)
05/01/25	5.000	%	809,000		758,437
PQ Corp. (a)
11/01/18	8.750	%	2,024,000		1,882,320
Platform Specialty Products Corp. (a)
05/01/21	10.375	%	144,000		134,280
02/01/22	6.500	%	166,000		130,310
WR Grace & Co. (a)
10/01/21	5.125	%	331,000		332,655
Total					12,663,041
Construction Machinery —%
United Rentals North America, Inc.
05/15/20	7.375	%	503,000		518,090
Consumer Cyclical Services 0.2%
ADT Corp. (The)
07/15/22	3.500	%	273,000		246,383
APX Group, Inc.
12/01/19	6.375	%	611,000		584,269
12/01/20	8.750	%	339,000		272,047
IHS, Inc.
11/01/22	5.000	%	594,000		594,000
Interval Acquisition Corp. (a)
04/15/23	5.625	%	402,000		399,990
Monitronics International, Inc.
04/01/20	9.125	%	361,000		286,092
Total					2,382,781
Consumer Products 0.8%
Clorox Co. (The)
12/15/24	3.500	%	8,005,000		8,093,023

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Consumer Products (continued)
Jarden Corp. (a)
11/15/23	5.000	%	$	105,000	$	107,888
Scotts Miracle-Gro Co. (The) (a)
10/15/23	6.000	%	266,000		277,970
Serta Simmons Bedding LLC (a)
10/01/20	8.125	%	369,000		377,764
Spectrum Brands, Inc.
11/15/22	6.625	%	385,000		410,025
Spectrum Brands, Inc. (a)
07/15/25	5.750	%	422,000		432,550
Springs Industries, Inc.
06/01/21	6.250	%	201,000		199,492
Tempur Sealy International, Inc. (a)
10/15/23	5.625	%	187,000		190,740
Total					10,089,452
Diversified Manufacturing —%
Entegris, Inc. (a)
04/01/22	6.000	%	350,000		355,250
Electric 22.4%
AES Corp. (The)
07/01/21	7.375	%	454,000		467,620
Appalachian Power Co.
05/15/44	4.400	%	3,680,000		3,615,471
06/01/45	4.450	%	4,330,000		4,222,980
Berkshire Hathaway Energy Co.
11/15/23	3.750	%	19,420,000		20,037,711
11/15/43	5.150	%	600,000		644,433
02/01/45	4.500	%	804,000		787,520
CMS Energy Corp.
03/15/22	5.050	%	3,150,000		3,496,680
03/31/43	4.700	%	2,435,000		2,458,386
03/01/44	4.875	%	6,190,000		6,422,267
Calpine Corp. (a)
01/15/22	6.000	%	441,000		456,435
Connecticut Light & Power Co. (The)
01/15/23	2.500	%	5,088,000		4,996,686
DTE Energy Co.
12/01/23	3.850	%	1,470,000		1,531,556
06/01/24	3.500	%	15,988,000		16,252,170
DTE Energy Co. (a)
06/15/22	3.300	%	16,440,000		16,867,456
Dominion Resources, Inc.
10/01/25	3.900	%	15,567,000		15,741,724
09/15/42	4.050	%	8,216,000		7,357,099
Duke Energy Corp.
08/15/22	3.050	%	10,000,000		9,966,560
10/15/23	3.950	%	17,053,000		17,679,050
12/15/45	4.800	%	1,325,000		1,378,375
Indiana Michigan Power Co.
03/15/23	3.200	%	13,250,000		13,354,807

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Electric (continued)
NRG Energy, Inc.
07/15/22	6.250	%	$	335,000	$	276,375
05/01/24	6.250	%	159,000		126,803
NRG Yield Operating LLC
08/15/24	5.375	%	596,000		500,640
Oncor Electric Delivery Co. LLC
09/30/17	5.000	%	4,000,000		4,189,456
04/01/45	3.750	%	6,412,000		5,593,617
PPL Capital Funding, Inc.
12/01/22	3.500	%	750,000		766,544
06/01/23	3.400	%	23,617,000		23,752,632
03/15/24	3.950	%	1,565,000		1,622,902
PSEG Power LLC
11/15/18	2.450	%	1,295,000		1,301,235
11/15/23	4.300	%	1,605,000		1,635,168
PacifiCorp
06/01/23	2.950	%	8,525,000		8,618,468
Pacific Gas & Electric Co.
06/15/23	3.250	%	9,076,000		9,236,309
02/15/24	3.750	%	6,240,000		6,540,213
08/15/24	3.400	%	4,175,000		4,282,135
02/15/44	4.750	%	5,388,000		5,757,525
Progress Energy, Inc.
04/01/22	3.150	%	25,595,000		25,751,539
Talen Energy Supply LLC
06/01/25	6.500	%	344,000		233,920
TransAlta Corp.
06/03/17	1.900	%	15,885,000		14,900,829
WEC Energy Group, Inc.
06/15/25	3.550	%	6,515,000		6,668,194
Total					269,489,490
Finance Companies 0.5%
AerCap Ireland Capital Ltd./Global Aviation Trust
05/15/21	4.500	%	1,604,000		1,571,920
10/01/21	5.000	%	669,000		669,000
Aircastle Ltd.
03/15/21	5.125	%	198,000		195,525
CIT Group, Inc. (a)
04/01/18	6.625	%	705,000		745,537
Navient Corp.
10/26/20	5.000	%	91,000		78,715
10/25/24	5.875	%	575,000		455,688
OneMain Financial Holdings, Inc. (a)
12/15/19	6.750	%	271,000		266,935
12/15/21	7.250	%	287,000		284,130
Provident Funding Associates LP/Finance Corp. (a)
06/15/21	6.750	%	698,000		664,845
Quicken Loans, Inc. (a)
05/01/25	5.750	%	297,000		278,809
Springleaf Finance Corp.
10/01/21	7.750	%	266,000		250,040
10/01/23	8.250	%	226,000		212,440

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Finance Companies (continued)
iStar, Inc.
07/01/19	5.000	%	$	411,000	$	386,340
Total					6,059,924
Food and Beverage 7.3%
Anheuser-Busch InBev Finance, Inc.
02/01/46	4.900	%	3,775,000		3,909,292
ConAgra Foods, Inc.
09/15/22	3.250	%	3,657,000		3,619,223
01/25/23	3.200	%	3,373,000		3,275,200
01/25/43	4.650	%	9,247,000		8,252,125
Constellation Brands, Inc.
11/15/24	4.750	%	412,000		430,025
12/01/25	4.750	%	60,000		61,950
Diamond Foods, Inc. (a)
03/15/19	7.000	%	375,000		388,125
Grupo Bimbo SAB de CV (a)
06/27/44	4.875	%	8,335,000		7,074,381
Heineken NV (a)
04/01/22	3.400	%	13,875,000		14,380,258
Kraft Heinz Co. (The) (a)
07/15/45	5.200	%	5,605,000		5,894,739
Molson Coors Brewing Co.
05/01/42	5.000	%	14,464,000		13,815,232
Pinnacle Foods Finance LLC/Corp. (a)
01/15/24	5.875	%	42,000		43,470
Post Holdings, Inc.
02/15/22	7.375	%	133,000		140,149
Post Holdings, Inc. (a)
03/15/24	7.750	%	392,000		417,480
SABMiller Holdings, Inc. (a)
01/15/22	3.750	%	25,190,000		26,109,939
Treehouse Foods, Inc. (a)
02/15/24	6.000	%	63,000		64,811
Total					87,876,399
Gaming 0.3%
Boyd Gaming Corp.
05/15/23	6.875	%	297,000		301,455
GLP Capital LP/Financing II, Inc.
11/01/23	5.375	%	292,000		279,590
International Game Technology PLC (a)
02/15/22	6.250	%	542,000		521,675
MGM Resorts International
03/01/18	11.375	%	233,000		266,785
10/01/20	6.750	%	616,000		640,640
03/15/23	6.000	%	281,000		280,122
Pinnacle Entertainment, Inc.
08/01/21	6.375	%	176,000		186,560
Scientific Games International, Inc. (a)
01/01/22	7.000	%	800,000		752,000

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Gaming (continued)
Seminole Tribe of Florida, Inc. (a)
10/01/20	6.535	%	$	191,000	$	193,865
10/01/20	7.804	%	300,000		318,723
Tunica-Biloxi Gaming Authority (a)(d)
05/15/16	0.000	%	203,000		99,977
Total					3,841,392
Health Care 1.3%
Acadia Healthcare Co., Inc.
02/15/23	5.625	%	159,000		149,858
Alere, Inc. (a)
07/01/23	6.375	%	350,000		330,750
Amsurg Corp.
11/30/20	5.625	%	276,000		279,450
CHS/Community Health Systems, Inc.
08/15/18	5.125	%	825,000		829,125
02/01/22	6.875	%	575,000		520,375
ConvaTec Finance International SA Junior Subordinated PIK (a)
01/15/19	8.250	%	353,000		314,170
DaVita HealthCare Partners, Inc.
07/15/24	5.125	%	608,000		611,420
Emdeon, Inc.
12/31/19	11.000	%	392,000		408,660
Emdeon, Inc. (a)
02/15/21	6.000	%	298,000		277,140
ExamWorks Group, Inc.
04/15/23	5.625	%	198,000		198,965
HCA, Inc.
02/01/25	5.375	%	1,009,000		1,020,351
04/15/25	5.250	%	560,000		574,000
02/15/26	5.875	%	160,000		163,200
HealthSouth Corp. (a)
09/15/25	5.750	%	181,000		175,534
Hologic, Inc. (a)
07/15/22	5.250	%	341,000		352,935
Kinetic Concepts, Inc./KCI U.S.A., Inc.
11/01/18	10.500	%	263,000		255,110
LifePoint Health, Inc.
12/01/21	5.500	%	406,000		412,090
MEDNAX, Inc. (a)
12/01/23	5.250	%	177,000		181,425
MPH Acquisition Holdings LLC (a)
04/01/22	6.625	%	380,000		380,950
McKesson Corp.
03/15/23	2.850	%	6,845,000		6,575,725
Sterigenics-Nordion Holdings LLC (a)
05/15/23	6.500	%	449,000		429,356
Surgical Care Affiliates, Inc. (a)
04/01/23	6.000	%	206,000		198,790

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Health Care (continued)
Tenet Healthcare Corp.
06/01/20	4.750	%	$	638,000	$	644,380
04/01/22	8.125	%	684,000		685,710
Total					15,969,469
Healthcare Insurance 0.1%
Centene Corp.
05/15/22	4.750	%	440,000		422,400
Centene Escrow Corp. (a)(e)
02/15/21	5.625	%	161,000		163,818
02/15/24	6.125	%	235,000		241,463
Molina Healthcare, Inc. (a)
11/15/22	5.375	%	295,000		294,262
Total					1,121,943
Home Construction 0.1%
CalAtlantic Group, Inc.
12/15/21	6.250	%	271,000		285,905
Meritage Homes Corp.
06/01/25	6.000	%	515,000		502,125
Taylor Morrison Communities, Inc./Monarch, Inc. (a)
04/15/21	5.250	%	355,000		333,700
Toll Brothers Finance Corp.
11/15/25	4.875	%	152,000		148,960
Total					1,270,690
Independent Energy 5.8%
Canadian Natural Resources Ltd.
04/15/24	3.800	%	9,078,000		7,175,787
03/15/38	6.250	%	385,000		279,930
Canadian Oil Sands Ltd. (a)
04/01/22	4.500	%	3,780,000		3,466,808
04/01/42	6.000	%	3,625,000		2,895,849
Carrizo Oil & Gas, Inc.
04/15/23	6.250	%	670,000		468,163
Cimarex Energy Co.
05/01/22	5.875	%	9,800,000		9,114,000
06/01/24	4.375	%	5,035,000		4,407,689
Concho Resources, Inc.
04/01/23	5.500	%	881,000		799,058
Continental Resources, Inc.
09/15/22	5.000	%	17,631,000		12,385,777
06/01/44	4.900	%	1,782,000		965,124
CrownRock LP/Finance, Inc. (a)
02/15/23	7.750	%	432,000		384,480
Diamondback Energy, Inc.
10/01/21	7.625	%	122,000		121,390
EnCana Corp.
11/15/41	5.150	%	2,169,000		1,231,283
Laredo Petroleum, Inc.
01/15/22	5.625	%	1,441,000		1,023,110

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Independent Energy (continued)
Marathon Oil Corp.
06/01/45	5.200	%	$	7,310,000	$	4,502,880
Noble Energy, Inc.
11/15/43	5.250	%	4,713,000		3,475,739
Parsley Energy LLC/Finance Corp. (a)
02/15/22	7.500	%	794,000		762,240
RSP Permian, Inc.
10/01/22	6.625	%	159,000		141,510
RSP Permian, Inc. (a)
10/01/22	6.625	%	330,000		293,700
SM Energy Co.
11/15/22	6.125	%	271,000		155,825
Whiting Petroleum Corp.
03/15/21	5.750	%	750,000		470,625
04/01/23	6.250	%	94,000		58,750
Woodside Finance Ltd. (a)
03/05/25	3.650	%	17,728,000		15,499,218
Total					70,078,935
Integrated Energy 0.9%
Cenovus Energy, Inc.
09/15/23	3.800	%	3,276,000		2,740,158
09/15/42	4.450	%	6,896,000		4,411,881
09/15/43	5.200	%	5,070,000		3,534,145
Total					10,686,184
Leisure —%
LTF Merger Sub, Inc. (a)
06/15/23	8.500	%	281,000		265,545
Life Insurance 6.8%
Five Corners Funding Trust (a)
11/15/23	4.419	%	39,880,000		41,583,674
Guardian Life Insurance Co. of America (The) Subordinated (a)
06/19/64	4.875	%	10,176,000		9,776,918
MetLife, Inc.
09/15/23	4.368	%	3,482,000		3,724,876
05/13/46	4.600	%	3,688,000		3,605,923
Peachtree Corners Funding Trust (a)
02/15/25	3.976	%	9,818,000		9,851,244
Teachers Insurance & Annuity Association of America Subordinated (a)
09/15/44	4.900	%	13,060,000		13,477,776
Total					82,020,411
Lodging 0.1%
Hilton Worldwide Finance LLC/Corp.
10/15/21	5.625	%	641,000		660,230

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Lodging (continued)
Playa Resorts Holding BV (a)
08/15/20	8.000	%	$	566,000	$	577,320
Total					1,237,550
Media and Entertainment 6.6%
21st Century Fox America, Inc.
09/15/44	4.750	%	9,890,000		9,349,205
AMC Networks, Inc.
12/15/22	4.750	%	473,000		470,635
Lamar Media Corp. (a)
02/01/26	5.750	%	89,000		91,670
MDC Partners, Inc. (a)
04/01/20	6.750	%	673,000		667,111
Netflix, Inc. (a)
02/15/25	5.875	%	1,211,000		1,248,844
Outfront Media Capital LLC/Corp.
03/15/25	5.875	%	461,000		466,762
Scripps Networks Interactive, Inc.
11/15/24	3.900	%	19,506,000		18,899,988
06/15/25	3.950	%	8,772,000		8,459,313
Sky PLC (a)
11/26/22	3.125	%	22,353,000		22,131,705
Thomson Reuters Corp.
05/23/43	4.500	%	11,719,000		10,008,870
Time Warner, Inc.
03/29/41	6.250	%	6,360,000		6,738,083
Univision Communications, Inc. (a)
02/15/25	5.125	%	994,000		941,815
Total					79,474,001
Metals 0.7%
ArcelorMittal (f)
03/01/21	6.500	%	210,000		170,625
02/25/22	7.250	%	335,000		271,350
Barrick Gold Corp.
04/01/42	5.250	%	5,552,000		3,724,737
Newmont Mining Corp.
03/15/42	4.875	%	4,306,000		2,975,739
Teck Resources Ltd.
03/01/42	5.200	%	4,261,000		1,918,302
Total					9,060,753
Midstream 11.6%
Columbia Pipeline Group, Inc. (a)
06/01/45	5.800	%	12,900,000		10,613,617
Energy Transfer Equity LP
06/01/27	5.500	%	845,000		599,950
Energy Transfer Partners LP
02/01/43	5.150	%	1,146,000		791,874

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Midstream (continued)
Enterprise Products Operating LLC
02/15/45	5.100	%	$	9,435,000	$	7,849,892
05/15/46	4.900	%	3,785,000		3,143,389
Kinder Morgan Energy Partners LP
09/01/22	3.950	%	778,000		681,468
02/15/23	3.450	%	21,342,000		17,761,026
09/01/23	3.500	%	500,000		412,135
05/01/24	4.300	%	16,621,000		14,144,687
03/01/43	5.000	%	3,804,000		2,739,424
MPLX LP (a)
02/15/23	5.500	%	753,000		625,758
12/01/24	4.875	%	783,000		611,115
Northwest Pipeline LLC
04/15/17	5.950	%	8,479,000		8,350,976
Plains All American Pipeline LP/Finance Corp.
01/31/23	2.850	%	20,031,000		15,993,892
10/15/23	3.850	%	10,110,000		8,473,120
10/15/25	4.650	%	760,000		650,330
06/15/44	4.700	%	4,134,000		2,795,551
Regency Energy Partners LP/Finance Corp.
07/15/21	6.500	%	812,000		775,460
Sabine Pass Liquefaction LLC
03/01/25	5.625	%	809,000		695,740
Southern Natural Gas Co. LLC (a)
04/01/17	5.900	%	16,345,000		16,580,891
Targa Resources Partners LP/Finance Corp.
11/15/23	4.250	%	554,000		404,420
Targa Resources Partners LP/Finance Corp. (a)
03/15/24	6.750	%	267,000		220,275
Tesoro Logistics LP/Finance Corp. (a)
10/15/22	6.250	%	720,000		655,200
Transcontinental Gas Pipe Line Co. LLC
04/15/16	6.400	%	8,983,000		9,067,216
Transcontinental Gas Pipe Line Co. LLC (a)
02/01/26	7.850	%	5,085,000		5,243,906
Williams Companies, Inc. (The)
06/24/24	4.550	%	414,000		271,349
Williams Partners LP
09/15/45	5.100	%	15,433,000		9,996,649
Total					140,149,310
Natural Gas 3.8%
CenterPoint Energy Resources Corp.
11/01/17	6.125	%	7,966,000		8,486,865
NiSource Finance Corp.
02/15/43	5.250	%	5,620,000		6,053,752
Sempra Energy
12/01/23	4.050	%	22,650,000		23,353,599
06/15/24	3.550	%	7,480,000		7,411,214
Total					45,305,430
Oil Field Services 0.7%
Noble Holding International Ltd.

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Oil Field Services (continued)
03/15/22	3.950	%	$	10,115,000	$	5,133,362
03/15/42	5.250	%	4,578,000		1,831,200
Weatherford International Ltd.
03/15/38	7.000	%	1,520,000		938,600
Total					7,903,162
Packaging 0.2%
Ardagh Packaging Finance PLC/Holdings USA, Inc. (a)
01/31/21	6.750	%	249,000		235,928
Berry Plastics Corp.
07/15/23	5.125	%	480,000		468,000
Berry Plastics Corp. (a)
10/15/22	6.000	%	205,000		209,613
Plastipak Holdings, Inc. (a)
10/01/21	6.500	%	397,000		380,127
Reynolds Group Issuer, Inc./LLC
10/15/20	5.750	%	645,000		645,806
Signode Industrial Group Luxembourg SA/US, Inc. (a)
05/01/22	6.375	%	125,000		103,750
Total					2,043,224
Pharmaceuticals 1.2%
Amgen, Inc.
05/15/43	5.375	%	6,543,000		6,974,059
Concordia Healthcare Corp. (a)
04/15/23	7.000	%	264,000		229,680
Endo Finance LLC/Ltd./Finco, Inc. (a)
07/15/23	6.000	%	671,000		674,355
Gilead Sciences, Inc.
03/01/46	4.750	%	3,420,000		3,488,845
Grifols Worldwide Operations Ltd.
04/01/22	5.250	%	445,000		451,719
Jaguar Holding Co. II/Pharmaceutical Product Development LLC (a)
08/01/23	6.375	%	818,000		805,730
Mallinckrodt International Finance SA/CB LLC (a)
10/15/23	5.625	%	255,000		239,063
04/15/25	5.500	%	163,000		145,070
Valeant Pharmaceuticals International, Inc. (a)
10/15/20	6.375	%	535,000		516,275
05/15/23	5.875	%	633,000		566,535
04/15/25	6.125	%	844,000		758,545
Total					14,849,876
Property & Casualty 3.3%
Alleghany Corp.
06/27/22	4.950	%	7,743,000		8,436,858
Alliant Holdings I LP (a)
08/01/23	8.250	%	24,000		21,000
Berkshire Hathaway Finance Corp.
05/15/42	4.400	%	1,490,000		1,511,724

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Property & Casualty (continued)
CNA Financial Corp.
05/15/24	3.950	%	$	7,416,000	$	7,503,390
HUB International Ltd. (a)
10/01/21	7.875	%	1,165,000		1,022,288
HUB International Ltd. (a)(e)
02/15/21	9.250	%	59,000		60,328
Liberty Mutual Group, Inc. (a)
05/01/22	4.950	%	11,581,000		12,524,191
06/15/23	4.250	%	6,529,000		6,708,247
Loews Corp.
05/15/43	4.125	%	2,550,000		2,343,603
Total					40,131,629
Railroads —%
Florida East Coast Holdings Corp. (a)
05/01/19	6.750	%	120,000		109,800
Refining 0.5%
Marathon Petroleum Corp.
09/15/44	4.750	%	6,885,000		5,226,892
Valero Energy Corp.
03/15/45	4.900	%	640,000		519,990
Total					5,746,882
Restaurants 0.5%
BC ULC/New Red Finance, Inc. (a)
01/15/22	4.625	%	732,000		735,660
Yum! Brands, Inc.
11/01/43	5.350	%	6,680,000		4,943,200
Total					5,678,860
Retailers 0.5%
Asbury Automotive Group, Inc.
12/15/24	6.000	%	251,000		245,352
Asbury Automotive Group, Inc. (a)
12/15/24	6.000	%	108,000		105,570
CVS Health Corp.
07/20/45	5.125	%	3,115,000		3,346,996
Dollar Tree, Inc. (a)
03/01/23	5.750	%	509,000		536,359
Group 1 Automotive, Inc.
06/01/22	5.000	%	157,000		149,346
Group 1 Automotive, Inc. (a)
12/15/23	5.250	%	127,000		119,380
Penske Automotive Group, Inc.
12/01/24	5.375	%	270,000		261,900
Rite Aid Corp.
Junior Subordinated
02/15/27	7.700	%	198,000		232,650
Rite Aid Corp. (a)
04/01/23	6.125	%	440,000		464,200

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Retailers (continued)
Sally Holdings LLC/Capital, Inc.
12/01/25	5.625	%	$	87,000	$	89,828
Total					5,551,581
Technology 3.2%
Alliance Data Systems Corp. (a)
08/01/22	5.375	%	1,048,000		992,980
Apple, Inc.
02/09/45	3.450	%	8,127,000		6,780,827
05/13/45	4.375	%	4,948,000		4,823,954
Audatex North America, Inc. (a)
06/15/21	6.000	%	294,000		296,205
11/01/23	6.125	%	549,000		553,118
Equinix, Inc.
01/15/26	5.875	%	84,000		86,940
First Data Corp. (a)
08/15/23	5.375	%	574,000		585,480
12/01/23	7.000	%	770,000		775,775
01/15/24	5.750	%	895,000		888,287
Hewlett Packard Enterprise Co. (a)
10/15/45	6.350	%	10,594,000		9,582,845
MSCI, Inc. (a)
11/15/24	5.250	%	447,000		460,969
08/15/25	5.750	%	268,000		283,410
Microsemi Corp. (a)
04/15/23	9.125	%	244,000		256,810
NCR Corp.
12/15/23	6.375	%	185,000		183,033
Oracle Corp.
05/15/45	4.125	%	11,283,000		10,323,381
Riverbed Technology, Inc. (a)
03/01/23	8.875	%	439,000		401,136
Sensata Technologies UK Financing Co. PLC (a)
02/15/26	6.250	%	200,000		204,000
VeriSign, Inc.
05/01/23	4.625	%	382,000		374,360
Zebra Technologies Corp.
10/15/22	7.250	%	524,000		544,960
Total					38,398,470
Transportation Services 1.1%
ERAC U.S.A. Finance LLC (a)
11/01/25	3.800	%	2,895,000		2,889,253
02/15/45	4.500	%	10,835,000		10,079,389
Total					12,968,642
Wireless 2.5%
CC Holdings GS V LLC/Crown Castle GS III Corp.
12/15/17	2.381	%	950,000		954,417
Numericable-SFR (a)
05/15/19	4.875	%	247,000		245,148
05/15/22	6.000	%	333,000		328,005

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Wireless (continued)
Rogers Communications, Inc.
03/15/23	3.000	%	$	23,042,000	$	22,781,741
03/15/44	5.000	%	1,310,000		1,306,894
Sprint Communications, Inc.
11/15/22	6.000	%	518,000		348,355
Sprint Communications, Inc. (a)
11/15/18	9.000	%	1,214,000		1,232,210
Sprint Corp.
09/15/21	7.250	%	679,000		488,880
02/15/25	7.625	%	73,000		49,868
T-Mobile USA, Inc.
04/28/21	6.633	%	457,000		472,424
01/15/24	6.500	%	395,000		398,950
01/15/26	6.500	%	681,000		681,000
Wind Acquisition Finance SA (a)
07/15/20	4.750	%	453,000		445,072
04/23/21	7.375	%	423,000		402,112
Total					30,135,076
Wirelines 5.7%
AT&T, Inc.
06/15/45	4.350	%	36,753,000		30,576,548
AT&T, Inc. (e)
02/15/47	5.650	%	1,265,000		1,262,040
CenturyLink, Inc.
12/01/23	6.750	%	687,000		650,074
Frontier Communications Corp.
04/15/24	7.625	%	245,000		204,575
01/15/25	6.875	%	527,000		418,965
Frontier Communications Corp. (a)
09/15/20	8.875	%	101,000		101,379
09/15/22	10.500	%	254,000		247,015
09/15/25	11.000	%	709,000		683,298
Level 3 Communications, Inc.
12/01/22	5.750	%	363,000		373,890
Level 3 Financing, Inc.
06/01/20	7.000	%	176,000		184,800
08/15/22	5.375	%	422,000		428,330
Level 3 Financing, Inc. (a)
01/15/24	5.375	%	77,000		77,770
Verizon Communications, Inc.
11/01/42	3.850	%	31,258,000		25,645,126
03/15/55	4.672	%	9,139,000		7,684,199
Zayo Group LLC/Capital, Inc.
04/01/23	6.000	%	680,000		664,700
Total					69,202,709
Total Corporate Bonds & Notes (Cost: $1,192,117,613)					$	1,123,139,695

Issuer	Coupon Rate		Principal Amount		Value
Foreign Government Obligations(g)  0.1%
Mexico 0.1%
Petroleos Mexicanos
06/27/44	5.500	%	$	1,045,000	$	787,721
Total Foreign Government Obligations (Cost: $934,383)					$	787,721

Borrower	Weighted Average Coupon		Principal Amount	Value
Senior Loans —%
Technology —%
Microsemi Corp. Tranche B Term Loan (e)(f)(h)
01/15/23	5.250	%	387,000	384,388
Total Senior Loans (Cost: $375,529)				$	384,388
Issuer			Shares	Value
Common Stocks —%
FINANCIALS —%
Insurance —%
WMI Holdings Corp. Escrow (b)(c)(i)(j)			1,075	$	—
WMIH Corp. (j)			21,388	51,759
Total				51,759
TOTAL FINANCIALS				51,759
Total Common Stocks (Cost: $1,077,672)				$	51,759

	Shares	Value
Money Market Funds 3.5%
Columbia Short-Term Cash Fund, 0.360% (k)(l)	41,734,972	$	41,734,972
Total Money Market Funds (Cost: $41,734,972)		$	41,734,972
Total Investments
(Cost: $1,236,240,169) (m)		$	1,166,098,535(n)
Other Assets & Liabilities, Net		38,577,685
Net Assets		$	1,204,676,220

At January 31, 2016, cash totaling $7,110,490 was pledged as collateral.

Investments in Derivatives

Futures Contracts Outstanding at January 31, 2016

Long Futures Contracts Outstanding

Contract Description	Number of Contracts	Trading Currency	Notional Market Value ($)	Expiration Date	Unrealized Appreciation ($)	Unrealized Depreciation ($)
US ULTRA BOND CBT	136	USD	22,601,500	03/2016	1,123,979	—

Short Futures Contracts Outstanding

Contract Description	Number of  Contracts		Trading  Currency	Notional Market  Value ($)		Expiration  Date	Unrealized  Appreciation ($)	Unrealized  Depreciation ($)
US 10YR NOTE (CBT)	(2,426	)	USD	(314,356,531	)	03/2016	—	(8,223,364	)
US 5YR NOTE (CBT)	(154	)	USD	(18,583,469	)	03/2016	—	(269,739	)
US LONG BOND(CBT)	(949	)	USD	(152,818,656	)	03/2016	—	(7,319,447	)
Total				(485,758,656	)		—	(15,812,550	)

Notes to Portfolio of Investments

(a)

Represents privately placed and other securities and instruments exempt from SEC registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. The Fund may invest in private placements determined to be liquid as well as those determined to be illiquid. Private placements may be determined to be liquid under guidelines established by the Fund’s Board of Trustees. At January 31, 2016, the value of these securities amounted to $312,314,376 or 25.93% of net assets.

(b)

Identifies securities considered by the Investment Manager to be illiquid and may be difficult to sell. The aggregate value of such securities at January 31, 2016 was $9,525, which represents less than 0.01% of net assets. Information concerning such security holdings at January 31, 2016 is as follows:

Security Description	Acquisition Dates	Cost ($)
Washington Mutual Bank
Subordinated 01/15/15 5.125%	03-10-2006 - 05-14-2008	5,688,448
WMI Holdings Corp. Escrow	03-05-2007	—

(c)	Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At January 31, 2016, 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 January 31, 2016, the value of these securities amounted to $109,502, which represents 0.01% of net assets.
(e)	Security, or a portion thereof, has been purchased on a when-issued or delayed delivery basis.
(f)	Variable rate security.
(g)	Principal and interest may not be guaranteed by the government.
(h)	Senior loans have interest rates 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 January 31, 2016. 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.
(i)	Negligible market value.
(j)	Non-income producing investment.
(k)	The rate shown is the seven-day current annualized yield at January 31, 2016.
(l)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended January 31, 2016 are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds From Sales ($)		Ending Cost($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	154,937,095	357,138,298	(470,340,421	)	41,734,972	50,598	41,734,972

(m) At January 31, 2016, the cost of securities for federal income tax purposes was approximately $1,236,240,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	12,316,000
Unrealized Depreciation	(82,457,000		)
Net Unrealized Depreciation	$	(70,141,000	)

(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
Currency Legend
USD	US Dollar
Fair Value Measurements

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

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

·Level 1 - Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (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 overseeing 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 January 31, 2016:

	Level 1Quoted Prices in  Active Markets for  Identical Assets ($)		Level 2Other Significant  Observable  Inputs ($)	Level 3Significant  Unobservable  Inputs ($)	Total ($)
Investments
Corporate Bonds & Notes	—		1,123,130,170	9,525	1,123,139,695
Foreign Government Obligations	—		787,721	—	787,721
Senior Loans	—		384,388	—	384,388
Common Stocks
Financials	51,759		—	—	51,759
Money Market Funds	—		41,734,972	—	41,734,972
Total Investments	51,759		1,166,037,251	9,525	1,166,098,535
Derivatives
Assets
Futures Contracts	1,123,979		—	—	1,123,979
Liabilities
Futures Contracts	(15,812,550	)	—	—	(15,812,550	)
Total	(14,636,812	)	1,166,037,251	9,525	1,151,409,964

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 valued based upon utilizing observable market inputs, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets and/or fund per share market values which are not considered publicly available.

Derivative instruments are valued at unrealized appreciation (depreciation).

Financial assets were transferred from Level 1 to Level 2 as the market for these assets is not considered publicly available. Fund per share market values were obtained using observable market inputs.

The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:

Transfers In		Transfers Out
Level 1 ($)	Level 2 ($)	Level 1 ($)	Level 2 ($)
—	154,937,095	154,937,095	—

Transfers between Level 1 and Level 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

The Fund does not hold any significant investments (greater than one percent of net assets) 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 and common stocks 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.

There were no transfers of financial assets between Levels 2 and 3 during the period.

Portfolio of Investments

Columbia Multi-Asset Income Fund

January 31, 2016 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Shares	Value
Common Stocks 7.4%
CONSUMER DISCRETIONARY 0.2%
Automobiles —%
Ford Motor Co.	926	$	11,056
Hotels, Restaurants & Leisure 0.1%
McDonald’s Corp.	615	76,125
Leisure Products —%
Mattel, Inc.	1,730	47,731
Media 0.1%
Pearson PLC	1,253	14,146
Viacom, Inc., Class B	333	15,198
Vivendi SA	1,014	22,044
Total		51,388
Multiline Retail —%
Macy’s, Inc.	586	23,680
TOTAL CONSUMER DISCRETIONARY		209,980
CONSUMER STAPLES 0.9%
Beverages —%
Coca-Cola Co. (The)	340	14,593
PepsiCo, Inc.	169	16,781
Total		31,374
Food & Staples Retailing —%
Wesfarmers Ltd.	807	24,350
Food Products 0.1%
General Mills, Inc.	494	27,916
Kraft Heinz Co. (The)	181	14,129
Total		42,045
Household Products 0.1%
Procter & Gamble Co. (The)	1,080	88,225
Tobacco 0.7%
Altria Group, Inc.	4,079	249,268
British American Tobacco PLC	1,268	70,657
Philip Morris International, Inc.	2,713	244,197

Issuer	Shares	Value
Common Stocks (continued)
CONSUMER STAPLES (CONTINUED)
Tobacco (continued)
Reynolds American, Inc.	397	$	19,830
Total		583,952
TOTAL CONSUMER STAPLES		769,946
ENERGY 1.1%
Oil, Gas & Consumable Fuels 1.1%
BP PLC, ADR	1,333	43,149
Chevron Corp.	2,317	200,351
ConocoPhillips	2,064	80,661
ENI SpA	474	6,879
Exxon Mobil Corp.	2,150	167,378
Kinder Morgan, Inc.	13,840	227,668
Occidental Petroleum Corp.	1,651	113,638
Royal Dutch Shell PLC, Class A	2,712	59,245
Spectra Energy Corp.	804	22,070
Suncor Energy, Inc.	527	12,411
Total		933,450
TOTAL ENERGY		933,450
FINANCIALS 2.6%
Banks 0.1%
Bank of Montreal	422	22,585
JPMorgan Chase & Co.	321	19,100
Total		41,685
Capital Markets —%
Invesco Ltd.	733	21,939
New Mountain Finance Corp.	1,183	13,912
Total		35,851
Real Estate Investment Trusts (REITs) 2.5%
Alexandria Real Estate Equities, Inc.	1,249	98,896
Altisource Residential Corp.	2,393	23,810
Armada Hoffler Properties, Inc.	1,160	12,493
Ashford Hospitality Trust, Inc.	2,582	14,356
Brandywine Realty Trust	1,675	21,490
CBL & Associates Properties, Inc.	5,074	54,546
Chesapeake Lodging Trust	1,290	32,405
Colony Capital, Inc.	2,878	49,588
Coresite Realty Corp.	369	23,668
Digital Realty Trust, Inc.	1,680	134,534
Duke Realty Corp.	4,006	80,641
DuPont Fabros Technology, Inc.	762	25,276

Issuer	Shares	Value
Common Stocks (continued)
FINANCIALS (CONTINUED)
Real Estate Investment Trusts (REITs) (continued)
EastGroup Properties, Inc.	841	$	44,901
Education Realty Trust, Inc.	1,080	42,206
EPR Properties	1,475	88,426
Gaming and Leisure Properties, Inc.	2,378	62,018
Geo Group, Inc. (The)	1,683	49,783
Getty Realty Corp.	1,617	28,919
Gladstone Commercial Corp.	1,002	14,329
Government Properties Income Trust	1,649	22,641
HCP, Inc.	2,914	104,729
Healthcare Trust of America, Inc., Class A	2,230	62,529
Highwoods Properties, Inc.	1,647	69,652
Host Hotels & Resorts, Inc.	3,672	50,857
LaSalle Hotel Properties	1,053	23,334
Lexington Realty Trust	7,562	55,429
Medical Properties Trust, Inc.	4,131	45,441
Mid-America Apartment Communities, Inc.	518	48,599
NorthStar Realty Finance Corp.	1,720	20,416
One Liberty Properties, Inc.	1,523	31,557
Pebblebrook Hotel Trust	200	4,884
Physicians Realty Trust	2,815	48,052
Ramco-Gershenson Properties Trust	2,682	45,835
Retail Properties of America, Inc., Class A	2,410	37,379
RLJ Lodging Trust	2,409	44,061
Sabra Health Care REIT, Inc.	942	17,295
Select Income REIT	1,983	37,479
Senior Housing Properties Trust	1,118	16,189
Sovran Self Storage, Inc.	467	52,622
Spirit Realty Capital, Inc.	7,396	77,510
STAG Industrial, Inc.	5,231	88,561
Sun Communities, Inc.	1,111	73,981
UDR, Inc.	1,473	52,424
Ventas, Inc.	489	27,051
WP Carey, Inc.	1,082	63,027
WP Glimcher, Inc.	3,117	28,302
Total		2,152,121
TOTAL FINANCIALS		2,229,657
HEALTH CARE 0.7%
Biotechnology 0.1%
AbbVie, Inc.	821	45,073

Issuer	Shares	Value
Common Stocks (continued)
HEALTH CARE (CONTINUED)
Health Care Equipment & Supplies —%
Medtronic PLC	32	$	2,429
Pharmaceuticals 0.6%
AstraZeneca PLC	462	29,748
Bristol-Myers Squibb Co.	980	60,917
Eli Lilly & Co.	836	66,128
GlaxoSmithKline PLC	1,092	22,496
Johnson & Johnson	1,294	135,145
Merck & Co., Inc.	1,819	92,169
Pfizer, Inc.	5,794	176,659
Total		583,262
TOTAL HEALTH CARE		630,764
INDUSTRIALS 0.3%
Aerospace & Defense 0.2%
BAE Systems PLC	3,772	27,897
Lockheed Martin Corp.	623	131,453
Total		159,350
Commercial Services & Supplies —%
RR Donnelley & Sons Co.	2,061	28,792
Industrial Conglomerates 0.1%
General Electric Co.	1,437	41,817
Trading Companies & Distributors —%
Fly Leasing Ltd., ADR	768	9,032
TOTAL INDUSTRIALS		238,991
INFORMATION TECHNOLOGY 0.6%
Communications Equipment 0.2%
Cisco Systems, Inc.	5,749	136,769
QUALCOMM, Inc.	494	22,398
Total		159,167
IT Services —%
Paychex, Inc.	447	21,393
Semiconductors & Semiconductor Equipment 0.1%
Intel Corp.	3,338	103,545

Issuer		Shares		Value
Common Stocks (continued)
INFORMATION TECHNOLOGY (CONTINUED)
Semiconductors & Semiconductor Equipment (continued)
Maxim Integrated Products, Inc.		398		$	13,293
Total				116,838
Software 0.2%
Microsoft Corp.		3,472		191,272
Technology Hardware, Storage & Peripherals 0.1%
HP, Inc.		888		8,623
Seagate Technology PLC		1,461		42,442
Total				51,065
TOTAL INFORMATION TECHNOLOGY				539,735
MATERIALS 0.1%
Chemicals 0.1%
Dow Chemical Co. (The)		1,409		59,178
Eastman Chemical Co.		109		6,672
EI du Pont de Nemours & Co.		469		24,745
PPG Industries, Inc.		42		3,995
Total				94,590
Metals & Mining —%
Nucor Corp.		469		18,324
Paper & Forest Products —%
International Paper Co.		506		17,310
TOTAL MATERIALS				130,224
TELECOMMUNICATION SERVICES 0.5%
Diversified Telecommunication Services 0.4%
AT&T, Inc.	6,893		248,561
BCE, Inc.	881		35,504
CenturyLink, Inc.	2,249		57,170
Orange SA	1,773		31,481
Total			372,716
Wireless Telecommunication Services 0.1%
Vodafone Group PLC	4,617		14,841
Vodafone Group PLC, ADR	1,001		32,232
Total			47,073
TOTAL TELECOMMUNICATION SERVICES			419,789

Issuer	Shares	Value
Common Stocks (continued)
UTILITIES 0.4%
Electric Utilities 0.3%
American Electric Power Co., Inc.	602	$	36,704
Duke Energy Corp.	704	53,011
Exelon Corp.	1,301	38,471
PPL Corp.	1,068	37,444
Xcel Energy, Inc.	1,187	45,367
Total		210,997
Multi-Utilities 0.1%
Ameren Corp.	759	34,094
DTE Energy Co.	230	19,552
PG&E Corp.	487	26,741
Sempra Energy	393	37,237
Total		117,624
TOTAL UTILITIES		328,621
Total Common Stocks (Cost: $7,199,143)		$	6,431,157

	Shares	Value
Exchange-Traded Funds 8.1%
SPDR Barclays Convertible Securities ETF	38,747	1,587,852
SPDR Barclays Long Term Corporate Bond ETF	65,126	2,442,876
SPDR Blackstone/GSO Senior Loan ETF	65,155	2,993,221
Total Exchange-Traded Funds (Cost: $7,816,596)		$	7,023,949

Issuer	Coupon Rate		Principal Amount	Value
Corporate Bonds & Notes 28.2%
Aerospace & Defense 0.3%
Huntington Ingalls Industries, Inc. (a)
12/15/21	5.000	%	80,000	$	82,600
TransDigm, Inc.
07/15/24	6.500	%	102,000	99,705
TransDigm, Inc. (a)
05/15/25	6.500	%	45,000	43,256
Total				225,561
Automotive 0.4%
American Axle & Manufacturing, Inc.
03/15/21	6.250	%	80,000	80,500
Dana Holding Corp.
02/15/21	6.750	%	50,000	50,625

Issuer		Coupon Rate				Principal Amount			Value
Corporate Bonds & Notes (continued)
Automotive (continued)
Schaeffler Finance BV (a)
05/15/21		4.250		%		$	94,000		$	93,295
ZF North America Capital, Inc. (a)
04/29/25		4.750		%		95,000			89,063
Total									313,483
Banking 3.8%
Ally Financial, Inc.
05/19/22		4.625		%		50,000			50,000
03/30/25		4.625		%		262,000			254,795
Subordinated
11/20/25		5.750		%		25,000			24,938
BNP Paribas SA Junior Subordinated (a)(b)
12/31/49		7.375		%		200,000			196,250
Bank of New York Mellon Corp. (The) Junior Subordinated (b)
12/29/49		4.500		%		275,000			248,187
Barclays Bank PLC Junior Subordinated (b)
12/31/49		6.625		%		265,000			257,315
Citigroup, Inc. Junior Subordinated (b)
12/31/49		6.300		%		255,000			247,350
Fifth Third Bancorp Junior Subordinated (b)
12/31/49		5.100		%		275,000			246,813
HSBC Holdings PLC Junior Subordinated (b)
12/31/49		6.375		%		360,000			346,500
JPMorgan Chase & Co. Junior Subordinated (b)
12/31/49		6.100		%		345,000			345,862
Lloyds Banking Group PLC Junior Subordinated (a)(b)
12/31/49		6.657		%		230,000			256,450
PNC Financial Services Group, Inc. (The) Junior Subordinated (b)
12/31/49		4.850		%		25,000			23,313
Royal Bank of Scotland Group PLC
Subordinated
05/28/24		5.125		%		110,000			110,429
Royal Bank of Scotland Group PLC (b)
Junior Subordinated
12/31/49	8.000		%		200,000			205,250
Wells Fargo & Co. Junior Subordinated (b)
12/31/49	5.900		%		250,000			252,187

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Banking (continued)
Wells Fargo Capital X Junior Subordinated
12/15/36	5.950	%	$	250,000	$	253,775
Total					3,319,414
Brokerage/Asset Managers/Exchanges 0.1%
E*TRADE Financial Corp.
09/15/23	4.625	%	112,000		110,320
National Financial Partners Corp. (a)
07/15/21	9.000	%	14,000		12,600
Total					122,920
Building Materials 1.3%
Allegion PLC
09/15/23	5.875	%	32,000		33,040
Allegion US Holding Co., Inc.
10/01/21	5.750	%	40,000		41,600
American Builders & Contractors Supply Co., Inc. (a)
04/15/21	5.625	%	72,000		73,350
12/15/23	5.750	%	15,000		15,281
Beacon Roofing Supply, Inc. (a)
10/01/23	6.375	%	56,000		57,750
Cemex SAB de CV (a)
01/15/21	7.250	%	200,000		190,200
Elementia SAB de CV (a)
01/15/25	5.500	%	200,000		185,020
HD Supply, Inc.
07/15/20	7.500	%	146,000		151,840
07/15/20	11.500	%	43,000		47,408
HD Supply, Inc. (a)
12/15/21	5.250	%	50,000		51,437
Nortek, Inc.
04/15/21	8.500	%	48,000		49,560
Union Andina de Cementos SAA (a)
10/30/21	5.875	%	200,000		192,400
Total					1,088,886
Cable and Satellite 1.8%
Altice US Finance I Corp. (a)
07/15/23	5.375	%	33,000		33,165
CCO Holdings LLC/Capital Corp. (a)
05/01/23	5.125	%	178,000		178,000
CCOH Safari LLC (a)
02/15/26	5.750	%	47,000		46,735
CSC Holdings LLC
06/01/24	5.250	%	124,000		109,430
Cable One, Inc. (a)
06/15/22	5.750	%	24,000		24,240
Cequel Communications Holdings I LLC/Capital Corp. (a)
12/15/21	5.125	%	76,000		68,400

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Cable and Satellite (continued)
12/15/21	5.125	%	$	26,000	$	23,400
DISH DBS Corp.
06/01/21	6.750	%	166,000		169,320
11/15/24	5.875	%	21,000		18,716
DigitalGlobe, Inc. (a)
02/01/21	5.250	%	48,000		42,000
Intelsat Jackson Holdings SA
10/15/20	7.250	%	154,000		132,440
Intelsat Luxembourg SA
06/01/23	8.125	%	46,000		18,975
Neptune Finco Corp. (a)
10/15/25	6.625	%	83,000		85,594
10/15/25	10.875	%	59,000		62,614
Quebecor Media, Inc.
01/15/23	5.750	%	40,000		40,250
Sirius XM Radio, Inc. (a)
04/15/25	5.375	%	52,000		51,740
UPCB Finance IV Ltd. (a)
01/15/25	5.375	%	72,000		69,120
Unitymedia GmbH (a)
01/15/25	6.125	%	148,000		150,250
Videotron Ltd.
07/15/22	5.000	%	55,000		55,481
Virgin Media Finance PLC (a)
10/15/24	6.000	%	200,000		201,500
Total					1,581,370
Chemicals 1.1%
Angus Chemical Co. (a)
02/15/23	8.750	%	74,000		70,022
Celanese U.S. Holdings LLC
06/15/21	5.875	%	66,000		69,960
Chemours Co. LLC (The) (a)
05/15/23	6.625	%	64,000		39,200
05/15/25	7.000	%	75,000		45,750
Eco Services Operations LLC/Finance Corp. (a)
11/01/22	8.500	%	62,000		53,940
Huntsman International LLC (a)
11/15/22	5.125	%	20,000		17,200
INEOS Group Holdings SA (a)
02/15/19	5.875	%	74,000		71,965
Mexichem SAB de CV (a)
09/17/44	5.875	%	200,000		162,500
NOVA Chemicals Corp. (a)
05/01/25	5.000	%	70,000		65,625
PQ Corp. (a)
11/01/18	8.750	%	254,000		236,220
Platform Specialty Products Corp. (a)
05/01/21	10.375	%	25,000		23,313
02/01/22	6.500	%	28,000		21,980

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Chemicals (continued)
WR Grace & Co. (a)
10/01/21	5.125	%	$	60,000	$	60,300
Total					937,975
Construction Machinery 0.1%
United Rentals North America, Inc.
06/15/23	6.125	%	60,000		57,750
Consumer Cyclical Services 0.4%
ADT Corp. (The)
07/15/22	3.500	%	66,000		59,565
APX Group, Inc.
12/01/19	6.375	%	104,000		99,450
12/01/20	8.750	%	58,000		46,545
IHS, Inc.
11/01/22	5.000	%	82,000		82,000
Interval Acquisition Corp. (a)
04/15/23	5.625	%	63,000		62,685
Monitronics International, Inc.
04/01/20	9.125	%	54,000		42,795
Total					393,040
Consumer Products 0.5%
Jarden Corp. (a)
11/15/23	5.000	%	18,000		18,495
Scotts Miracle-Gro Co. (The) (a)
10/15/23	6.000	%	44,000		45,980
Serta Simmons Bedding LLC (a)
10/01/20	8.125	%	80,000		81,900
Spectrum Brands, Inc.
11/15/22	6.625	%	20,000		21,300
Spectrum Brands, Inc. (a)
12/15/24	6.125	%	117,000		121,680
07/15/25	5.750	%	44,000		45,100
Springs Industries, Inc.
06/01/21	6.250	%	47,000		46,648
Tempur Sealy International, Inc.
12/15/20	6.875	%	61,000		64,202
Tempur Sealy International, Inc. (a)
10/15/23	5.625	%	32,000		32,640
Total					477,945
Diversified Manufacturing 0.9%
Amsted Industries, Inc. (a)
03/15/22	5.000	%	32,000		31,680
General Electric Co. Junior Subordinated (b)
12/31/49	5.000	%	695,000		715,850
Total					747,530

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Electric 0.3%
AES Corp. (The)
07/01/21	7.375	%	$	94,000	$	96,820
NRG Energy, Inc.
07/15/22	6.250	%	100,000		82,500
05/01/24	6.250	%	10,000		7,975
NRG Yield Operating LLC
08/15/24	5.375	%	102,000		85,680
Talen Energy Supply LLC
06/01/25	6.500	%	47,000		31,960
Total					304,935
Finance Companies 1.4%
AerCap Ireland Capital Ltd./Global Aviation Trust
10/30/20	4.625	%	61,000		60,085
10/01/21	5.000	%	384,000		384,000
Aircastle Ltd.
03/15/21	5.125	%	60,000		59,250
CIT Group, Inc.
05/15/20	5.375	%	128,000		132,480
08/01/23	5.000	%	38,000		37,976
Navient Corp.
10/26/20	5.000	%	194,000		167,810
OneMain Financial Holdings, Inc. (a)
12/15/21	7.250	%	100,000		99,000
Provident Funding Associates LP/Finance Corp. (a)
06/15/21	6.750	%	110,000		104,775
Quicken Loans, Inc. (a)
05/01/25	5.750	%	51,000		47,876
Springleaf Finance Corp.
10/01/23	8.250	%	120,000		112,800
iStar, Inc.
07/01/19	5.000	%	42,000		39,480
Total					1,245,532
Food and Beverage 0.6%
Aramark Services, Inc. (a)
01/15/24	5.125	%	22,000		22,715
B&G Foods, Inc.
06/01/21	4.625	%	30,000		29,925
Constellation Brands, Inc.
11/15/24	4.750	%	70,000		73,062
12/01/25	4.750	%	10,000		10,325
MHP SA (a)
04/02/20	8.250	%	200,000		171,000
Pinnacle Foods Finance LLC/Corp. (a)
01/15/24	5.875	%	7,000		7,245
Post Holdings, Inc. (a)
12/15/22	6.000	%	53,000		52,602
03/15/24	7.750	%	56,000		59,640
Treehouse Foods, Inc. (a)
02/15/24	6.000	%	10,000		10,288

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Food and Beverage (continued)
WhiteWave Foods Co. (The)
10/01/22	5.375	%	$	66,000	$	70,125
Total					506,927
Gaming 0.8%
Boyd Gaming Corp.
05/15/23	6.875	%	31,000		31,465
GLP Capital LP/Financing II, Inc.
11/01/18	4.375	%	97,000		97,473
11/01/20	4.875	%	72,000		70,380
International Game Technology PLC (a)
02/15/22	6.250	%	106,000		102,025
MGM Resorts International
12/15/21	6.625	%	98,000		100,695
03/15/23	6.000	%	92,000		91,712
Scientific Games International, Inc.
12/01/22	10.000	%	110,000		76,450
Scientific Games International, Inc. (a)
01/01/22	7.000	%	100,000		94,000
SugarHouse HSP Gaming LP/Finance Corp. (a)
06/01/21	6.375	%	44,000		39,710
Total					703,910
Health Care 2.2%
Acadia Healthcare Co., Inc.
07/01/22	5.125	%	32,000		29,600
Alere, Inc. (a)
07/01/23	6.375	%	37,000		34,965
Amsurg Corp.
11/30/20	5.625	%	50,000		50,625
CHS/Community Health Systems, Inc.
08/01/21	5.125	%	100,000		99,250
02/01/22	6.875	%	97,000		87,785
ConvaTec Finance International SA Junior Subordinated PIK (a)
01/15/19	8.250	%	32,000		28,480
DaVita HealthCare Partners, Inc.
08/15/22	5.750	%	138,000		142,830
Emdeon, Inc.
12/31/19	11.000	%	58,000		60,465
Emdeon, Inc. (a)
02/15/21	6.000	%	31,000		28,830
ExamWorks Group, Inc.
04/15/23	5.625	%	40,000		40,195
Fresenius Medical Care U.S. Finance II, Inc. (a)
01/31/22	5.875	%	132,000		142,890
HCA Holdings, Inc. Junior Subordinated
02/15/21	6.250	%	192,000		202,560
HCA, Inc.
02/15/20	6.500	%	179,000		197,347
02/01/25	5.375	%	107,000		108,204

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Health Care (continued)
HealthSouth Corp. (a)
11/01/24	5.750	%	$	19,000	$	18,755
09/15/25	5.750	%	11,000		10,668
Hologic, Inc. (a)
07/15/22	5.250	%	36,000		37,260
LifePoint Health, Inc.
12/01/21	5.500	%	60,000		60,900
MEDNAX, Inc. (a)
12/01/23	5.250	%	30,000		30,750
MPH Acquisition Holdings LLC (a)
04/01/22	6.625	%	70,000		70,175
Sterigenics-Nordion Holdings LLC (a)
05/15/23	6.500	%	22,000		21,037
Surgical Care Affiliates, Inc. (a)
04/01/23	6.000	%	30,000		28,950
Tenet Healthcare Corp.
04/01/21	4.500	%	148,000		145,040
04/01/22	8.125	%	110,000		110,275
06/15/23	6.750	%	5,000		4,625
Universal Health Services, Inc. (a)
08/01/22	4.750	%	80,000		80,100
Total					1,872,561
Healthcare Insurance 0.2%
Centene Escrow Corp. (a)(c)
02/15/21	5.625	%	49,000		49,858
02/15/24	6.125	%	72,000		73,980
Molina Healthcare, Inc. (a)
11/15/22	5.375	%	50,000		49,875
Total					173,713
Home Construction 0.4%
CalAtlantic Group, Inc.
11/15/24	5.875	%	82,000		85,075
D.R. Horton, Inc.
02/15/20	4.000	%	42,000		42,525
02/15/23	4.750	%	19,000		18,952
Meritage Homes Corp.
04/01/22	7.000	%	127,000		130,175
Taylor Morrison Communities, Inc./Monarch, Inc. (a)
04/15/21	5.250	%	59,000		55,460
Toll Brothers Finance Corp.
11/15/25	4.875	%	25,000		24,500
Total					356,687
Independent Energy 1.3%
Antero Resources Corp.
12/01/22	5.125	%	50,000		42,125
Carrizo Oil & Gas, Inc.
04/15/23	6.250	%	156,000		109,005

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Independent Energy (continued)
Concho Resources, Inc.
04/01/23	5.500	%	$	150,000	$	136,048
CrownRock LP/Finance, Inc. (a)
02/15/23	7.750	%	77,000		68,530
Diamondback Energy, Inc.
10/01/21	7.625	%	50,000		49,750
Laredo Petroleum, Inc.
03/15/23	6.250	%	222,000		159,840
Parsley Energy LLC/Finance Corp. (a)
02/15/22	7.500	%	212,000		203,520
RSP Permian, Inc.
10/01/22	6.625	%	50,000		44,500
Range Resources Corp.
08/15/22	5.000	%	52,000		40,560
SM Energy Co.
11/15/22	6.125	%	72,000		41,400
06/01/25	5.625	%	15,000		8,025
Whiting Petroleum Corp.
03/15/21	5.750	%	2,000		1,255
04/01/23	6.250	%	97,000		60,625
Zhaikmunai LLP (a)
11/13/19	7.125	%	200,000		146,452
Total					1,111,635
Leisure 0.1%
AMC Entertainment, Inc.
06/15/25	5.750	%	8,000		8,150
Cinemark USA, Inc.
12/15/22	5.125	%	30,000		30,150
LTF Merger Sub, Inc. (a)
06/15/23	8.500	%	41,000		38,745
Total					77,045
Life Insurance 0.3%
MetLife, Inc. Junior Subordinated
08/01/39	10.750	%	155,000		238,003
Prudential Financial, Inc. Junior Subordinated (b)
09/15/42	5.875	%	20,000		20,975
Total					258,978
Lodging 0.4%
Choice Hotels International, Inc.
07/01/22	5.750	%	96,000		101,280
Hilton Worldwide Finance LLC/Corp.
10/15/21	5.625	%	80,000		82,400
Playa Resorts Holding BV (a)
08/15/20	8.000	%	102,000		104,040

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Lodging (continued)
RHP Hotel Properties LP/Finance Corp.
04/15/23	5.000	%	$	45,000	$	44,831
Total					332,551
Media and Entertainment 1.1%
AMC Networks, Inc.
12/15/22	4.750	%	81,000		80,595
Activision Blizzard, Inc. (a)
09/15/23	6.125	%	190,000		203,300
Lamar Media Corp. (a)
02/01/26	5.750	%	14,000		14,420
MDC Partners, Inc. (a)
04/01/20	6.750	%	98,000		97,142
Netflix, Inc. (a)
02/15/22	5.500	%	119,000		122,570
02/15/25	5.875	%	82,000		84,563
Nielsen Finance Co. SARL (The) (a)
10/01/21	5.500	%	40,000		41,100
Outfront Media Capital LLC/Corp.
02/15/24	5.625	%	130,000		132,925
Univision Communications, Inc. (a)
02/15/25	5.125	%	168,000		159,180
Total					935,795
Metals 0.3%
ArcelorMittal (b)
03/01/21	6.500	%	92,000		74,750
BHP Billiton Finance USA Ltd. Junior Subordinated (a)(b)
10/19/75	6.750	%	200,000		188,000
Total					262,750
Midstream 0.8%
Crestwood Midstream Partners LP/Finance Corp. (a)
04/01/23	6.250	%	30,000		18,225
Energy Transfer Equity LP
06/01/27	5.500	%	140,000		99,400
MPLX LP (a)
12/01/24	4.875	%	244,000		190,437
06/01/25	4.875	%	16,000		12,497
Sabine Pass Liquefaction LLC
03/01/25	5.625	%	124,000		106,640
Targa Resources Partners LP/Finance Corp.
05/01/23	5.250	%	52,000		40,300
11/15/23	4.250	%	68,000		49,640
Targa Resources Partners LP/Finance Corp. (a)
03/15/24	6.750	%	46,000		37,950
Tesoro Logistics LP/Finance Corp. (a)
10/15/22	6.250	%	103,000		93,730

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Midstream (continued)
Williams Companies, Inc. (The)
06/24/24	4.550	%	$	74,000	$	48,502
Total					697,321
Other Financial Institutions 0.1%
Icahn Enterprises LP/Finance Corp.
08/01/20	6.000	%	47,000		44,117
Other Industry —%
CB Richard Ellis Services, Inc.
03/15/25	5.250	%	39,000		40,289
Other REIT 0.1%
CyrusOne LP/Finance Corp.
11/15/22	6.375	%	70,000		71,050
Packaging 0.7%
Ardagh Packaging Finance PLC/Holdings USA, Inc. (a)
01/31/21	6.750	%	42,000		39,795
Ball Corp.
12/15/20	4.375	%	94,000		97,290
Berry Plastics Corp.
05/15/22	5.500	%	30,000		29,925
07/15/23	5.125	%	56,000		54,600
Berry Plastics Corp. (a)
10/15/22	6.000	%	57,000		58,283
Plastipak Holdings, Inc. (a)
10/01/21	6.500	%	82,000		78,515
Reynolds Group Issuer, Inc./LLC
10/15/20	5.750	%	90,000		90,112
02/15/21	6.875	%	47,000		48,645
Reynolds Group Issuer, Inc./LLC (b)
02/15/21	8.250	%	98,000		91,385
Signode Industrial Group Luxembourg SA/US, Inc. (a)
05/01/22	6.375	%	19,000		15,770
Total					604,320
Paper 0.2%
Inversiones CMPC SA (a)
09/15/24	4.750	%	200,000		192,592
Pharmaceuticals 0.9%
Concordia Healthcare Corp. (a)
04/15/23	7.000	%	40,000		34,800
Endo Finance LLC/Finco, Inc. (a)
02/01/25	6.000	%	117,000		115,552
Grifols Worldwide Operations Ltd.
04/01/22	5.250	%	52,000		52,785

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Pharmaceuticals (continued)
Jaguar Holding Co. II/Pharmaceutical Product Development LLC (a)
08/01/23	6.375	%	$	85,000	$	83,725
Mallinckrodt International Finance SA/CB LLC (a)
10/15/23	5.625	%	44,000		41,250
04/15/25	5.500	%	20,000		17,800
Quintiles Transnational Corp. (a)
05/15/23	4.875	%	42,000		42,525
Valeant Pharmaceuticals International, Inc. (a)
04/15/25	6.125	%	420,000		377,475
Total					765,912
Property & Casualty 0.2%
Alliant Holdings I LP (a)
08/01/23	8.250	%	4,000		3,500
HUB International Ltd. (a)
10/01/21	7.875	%	172,000		150,930
HUB International Ltd. (a)(c)
02/15/21	9.250	%	14,000		14,315
Total					168,745
Railroads 0.3%
BNSF Funding Trust I Junior Subordinated (b)
12/15/55	6.613	%	235,000		262,025
Florida East Coast Holdings Corp. (a)
05/01/19	6.750	%	21,000		19,215
Total					281,240
Restaurants 0.1%
BC ULC/New Red Finance, Inc. (a)
01/15/22	4.625	%	76,000		76,380
04/01/22	6.000	%	36,000		37,575
Total					113,955
Retailers 0.6%
Asbury Automotive Group, Inc.
12/15/24	6.000	%	50,000		48,875
Asbury Automotive Group, Inc. (a)
12/15/24	6.000	%	19,000		18,572
Dollar Tree, Inc. (a)
03/01/23	5.750	%	80,000		84,300
Group 1 Automotive, Inc.
06/01/22	5.000	%	52,000		49,465
Group 1 Automotive, Inc. (a)
12/15/23	5.250	%	5,000		4,700
Penske Automotive Group, Inc.
12/01/24	5.375	%	100,000		97,000
Rite Aid Corp. (a)
04/01/23	6.125	%	132,000		139,260
Sally Holdings LLC/Capital, Inc.
06/01/22	5.750	%	40,000		41,750

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Retailers (continued)
12/01/25	5.625	%	$	15,000	$	15,488
Total					499,410
Supermarkets 0.2%
Cencosud SA (a)
02/12/45	6.625	%	200,000		168,131
Technology 1.5%
Alliance Data Systems Corp. (a)
08/01/22	5.375	%	208,000		197,080
Equinix, Inc.
01/01/22	5.375	%	120,000		124,800
01/15/26	5.875	%	34,000		35,190
First Data Corp. (a)
08/15/23	5.375	%	60,000		61,200
12/01/23	7.000	%	129,000		129,967
01/15/24	5.750	%	150,000		148,875
Infor US, Inc. (a)
08/15/20	5.750	%	12,000		12,090
Iron Mountain, Inc. (a)
10/01/20	6.000	%	47,000		50,055
MSCI, Inc. (a)
11/15/24	5.250	%	70,000		72,187
08/15/25	5.750	%	35,000		37,013
Microsemi Corp. (a)
04/15/23	9.125	%	42,000		44,205
NCR Corp.
12/15/23	6.375	%	31,000		30,670
NXP BV/Funding LLC (a)
06/15/22	4.625	%	41,000		39,873
Qualitytech LP/Finance Corp.
08/01/22	5.875	%	62,000		62,930
Riverbed Technology, Inc. (a)
03/01/23	8.875	%	66,000		60,308
Sensata Technologies UK Financing Co. PLC (a)
02/15/26	6.250	%	34,000		34,680
VeriSign, Inc.
05/01/23	4.625	%	104,000		101,920
Zebra Technologies Corp.
10/15/22	7.250	%	78,000		81,120
Total					1,324,163
Wireless 1.5%
Comcel Trust (a)
02/06/24	6.875	%	200,000		160,000
Crown Castle International Corp.
04/15/22	4.875	%	152,000		159,553
Numericable-SFR (a)
05/15/19	4.875	%	136,000		134,980

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Wireless (continued)
Sprint Communications, Inc. (a)
03/01/20	7.000	%	$	208,000	$	199,680
Sprint Corp.
06/15/24	7.125	%	214,000		144,450
T-Mobile USA, Inc.
04/01/23	6.625	%	240,000		245,400
01/15/24	6.500	%	19,000		19,190
01/15/26	6.500	%	77,000		77,000
Wind Acquisition Finance SA (a)
07/15/20	4.750	%	104,000		102,180
04/23/21	7.375	%	40,000		38,025
Total					1,280,458
Wirelines 0.9%
CenturyLink, Inc.
04/01/25	5.625	%	166,000		141,100
Frontier Communications Corp.
01/15/23	7.125	%	228,000		189,810
Frontier Communications Corp. (a)
09/15/20	8.875	%	17,000		17,064
09/15/22	10.500	%	25,000		24,312
09/15/25	11.000	%	50,000		48,187
Level 3 Communications, Inc.
12/01/22	5.750	%	62,000		63,860
Level 3 Financing, Inc.
08/15/22	5.375	%	100,000		101,500
Level 3 Financing, Inc. (a)
01/15/24	5.375	%	13,000		13,130
Telecom Italia SpA (a)
05/30/24	5.303	%	40,000		39,100
Windstream Services, LLC
10/15/20	7.750	%	23,000		19,033
Zayo Group LLC/Capital, Inc.
04/01/23	6.000	%	116,000		113,390
05/15/25	6.375	%	24,000		23,280
Total					793,766
Total Corporate Bonds & Notes (Cost: $26,213,861)					$	24,454,362
Residential Mortgage-Backed Securities - Agency 4.9%
Federal Home Loan Mortgage Corp.
01/01/45	3.500	%	644,745		677,306
Federal Home Loan Mortgage Corp. (b)(d)
CMO IO Series 311 Class S1
08/15/43	5.525	%	3,927,677		839,473
CMO IO Series 326 Class S2
03/15/44	5.525	%	3,460,065		773,973
Federal Home Loan Mortgage Corp. (d)
CMO IO Series 4098 Class AI
05/15/39	3.500	%	3,513,980		455,019
CMO IO Series 4121 Class IA
01/15/41	3.500	%	2,277,810		374,587

Issuer	Coupon Rate		Principal Amount		Value
Residential Mortgage-Backed Securities - Agency (continued)
Federal National Mortgage Association (b)(d)
CMO IO Series 2013-101 Class CS
10/25/43	5.474	%	$	1,719,727	$	464,079
Federal National Mortgage Association (d)
CMO IO Series 2012-121 Class GI
08/25/39	3.500	%	498,059		56,097
Government National Mortgage Association CMO IO Series 2015-53 Class EI (d)
04/16/45	3.500	%	3,762,895		623,834
Total Residential Mortgage-Backed Securities - Agency (Cost: $4,430,907)					$	4,264,368
Residential Mortgage-Backed Securities - Non-Agency 4.7%
Bayview Opportunity Master Fund Trust Series 2014-16RP Class A (a)(b)
11/28/29	3.844	%	115,522		115,170
Citigroup Mortgage Loan Trust, Inc. (a)(b)
CMO Series 2014-C Class A
02/25/54	3.250	%	863,161		827,792
Series 2013-11 Class 3A3
09/25/34	2.619	%	219,457		209,212
Citigroup Mortgage Loan Trust, Inc. (b)
CMO Series 2015-A Class B3
06/25/58	4.500	%	246,273		235,163
Citigroup Mortgage Loan Trust, Inc. (d)
CMO IO Series 2015-A Class A1IO
06/25/58	1.000	%	8,405,423		314,021
Credit Suisse Mortgage Capital Certificates (a)
CMO Series 2010-9R Class 1A5
08/27/37	4.000	%	200,000		196,018
Series 2010-9R Class 1A3
08/27/37	3.750	%	388,287		389,755
Credit Suisse Mortgage Capital Certificates (a)(b)
CMO Series 2014-RPL4 Class A1
08/25/62	3.625	%	227,591		223,299
CMO Series 2014-RPL4 Class A2
08/25/62	4.522	%	1,000,000		969,468
Freddie Mac Structured Agency Credit Risk Debt Notes CMO Series 2015-DNA2 Class M3 (b)
12/25/27	4.322	%	250,000		232,989
Pretium Mortgage Credit Partners I Series 2015-NPL1 Class A1 (a)(b)
05/28/30	3.625	%	161,102		159,238
RBSSP Resecuritization Trust CMO Series 2010-1 Class 3A2 (a)(b)
08/26/35	2.783	%	250,000		241,656
Total Residential Mortgage-Backed Securities - Non-Agency (Cost: $4,118,994)					$	4,113,781

Issuer	Coupon Rate		Principal Amount		Value
Commercial Mortgage-Backed Securities - Non-Agency 2.5%
American Homes 4 Rent (a)(b)
Series 2014-SFR1 Class E
06/17/31	2.926	%	$	250,000	$	235,112
Series 2014-SFR1 Class F
06/17/31	3.676	%	250,000		233,244
BHMS Mortgage Trust Series 2014-ATLS Class DFX (a)(b)
07/05/33	4.847	%	500,000		485,579
Rialto Real Estate Fund LLC Subordinated, Series 2015-LT7 Class B (a)
12/25/32	5.071	%	350,000		349,497
Rialto Real Estate Fund LP Series 2014-LT6 Class B (a)
09/15/24	5.486	%	625,000		624,896
VFC LLC Subordinated, Series 2015-3 Class B (a)
12/20/31	4.750	%	250,000		249,748
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost: $2,228,886)					$	2,178,076
Asset-Backed Securities - Non-Agency 2.3%
ALM XIV Ltd. Series 2014-14A Class C (a)(b)
07/28/26	4.071	%	500,000		441,179
Apidos CLO XXII Series 2015-22A Class D (a)(b)
10/20/27	6.336	%	500,000		380,667
Carlyle Global Market Strategies CLO Series 2015-4A Class C (a)(b)
10/20/27	4.394	%	250,000		228,039
GFT Mortgage Loan Trust Series 2015-GFT1 Class A (a)(b)
01/25/55	3.721	%	349,954		345,719
OZLM VII Ltd. Series 2014-7A Class C (a)(b)
07/17/26	4.220	%	250,000		211,727
Octagon Investment Partners XXII Ltd. Series 2014-1A Class E1 (a)(b)
11/25/25	5.871	%	250,000		178,511
Selene Non-Performing Loans LLC Series 2014-1A Class A (a)(b)
05/25/54	2.981	%	237,030		234,698
Total Asset-Backed Securities - Non-Agency (Cost: $2,251,855)					$	2,020,540
U.S. Treasury Obligations 3.9%
U.S. Treasury
02/15/26	6.000	%	112,000		153,396
02/15/29	5.250	%	256,000		346,310

Issuer	Coupon Rate		Principal Amount		Value
U.S. Treasury Obligations (continued)
02/15/36	4.500	%	$	57,000	$	76,331
02/15/38	4.375	%	170,000		224,154
02/15/39	3.500	%	236,000		273,779
11/15/39	4.375	%	284,000		373,593
02/15/41	4.750	%	73,000		101,444
08/15/42	2.750	%	397,000		399,233
05/15/43	2.875	%	361,000		370,476
05/15/44	3.375	%	594,000		670,153
08/15/44	3.125	%	163,000		175,365
11/15/44	3.000	%	163,000		170,934
02/15/45	2.500	%	62,000		58,672
Total U.S. Treasury Obligations (Cost: $3,487,499)					$	3,393,840
Foreign Government Obligations(e)  9.7%
ARGENTINA 0.3%
Provincia de Buenos Aires (a)
01/26/21	10.875	%	150,000		157,688
Provincia de Cordoba (a)
08/17/17	12.375	%	100,000		103,250
Total					260,938
BRAZIL 0.7%
Brazilian Government International Bond
01/07/25	4.250	%	300,000		251,550
01/07/41	5.625	%	250,000		190,000
Petrobras Global Finance BV
01/27/21	5.375	%	200,000		150,250
Total					591,800
COLOMBIA 0.5%
Ecopetrol SA
01/16/25	4.125	%	100,000		76,000
09/18/43	7.375	%	260,000		199,875
06/26/26	5.375	%	200,000		160,000
Total					435,875
COSTA RICA 0.2%
Costa Rica Government International Bond (a)
03/12/45	7.158	%	200,000		167,750
CROATIA 0.2%
Hrvatska Elektroprivreda (a)
10/23/22	5.875	%	200,000		203,250
DOMINICAN REPUBLIC 0.7%
Banco de Reservas de la Republica Dominicana (a)
Subordinated
02/01/23	7.000	%	150,000		143,550
02/01/23	7.000	%	150,000		143,551

Issuer	Coupon Rate		Principal Amount		Value
Foreign Government Obligations (e) (continued)
DOMINICAN REPUBLIC (CONTINUED)
Dominican Republic International Bond (a)
04/20/27	8.625	%	$	300,000	$	334,500
Total					621,601
EL SALVADOR 0.1%
El Salvador Government International Bond (a)
01/18/27	6.375	%	120,000		95,400
GABON 0.2%
Gabon Government International Bond (a)
12/12/24	6.375	%	200,000		153,916
GEORGIA 0.2%
Georgian Railway JSC (a)
07/11/22	7.750	%	200,000		202,000
GHANA 0.2%
Ghana Government International Bond (a)
01/18/26	8.125	%	200,000		143,224
HONDURAS 0.2%
Honduras Government International Bond (a)
03/15/24	7.500	%	200,000		202,500
HUNGARY 0.4%
Hungary Government International Bond
03/29/41	7.625	%	100,000		136,375
MFB Magyar Fejlesztesi Bank Zrt. (a)
10/21/20	6.250	%	200,000		220,150
Total					356,525
INDONESIA 1.1%
PT Pertamina Persero (a)
05/27/41	6.500	%	500,000		426,875
PT Perusahaan Listrik Negara (a)
11/22/21	5.500	%	500,000		508,480
Total					935,355
IVORY COAST 0.2%
Ivory Coast Government International Bond (a)
03/03/28	6.375	%	200,000		176,216
KAZAKHSTAN 0.1%
KazMunayGas National Co. JSC (a)
07/02/18	9.125	%	100,000		106,500

Issuer	Coupon Rate		Principal Amount		Value
Foreign Government Obligations (e) (continued)
MEXICO 0.6%
Petroleos Mexicanos
06/02/41	6.500	%	$	600,000	$	511,200
PAKISTAN 0.2%
Pakistan Government International Bond (a)
04/15/24	8.250	%	200,000		201,790
RUSSIAN FEDERATION 1.1%
Gazprom Neft OAO Via GPN Capital SA (a)
09/19/22	4.375	%	200,000		173,500
Gazprom OAO Via Gaz Capital SA (a)
03/07/22	6.510	%	200,000		202,020
02/06/28	4.950	%	200,000		170,870
Russian Foreign Bond - Eurobond (a)
04/04/22	4.500	%	400,000		402,503
Total					948,893
SENEGAL 0.2%
Senegal Government International Bond (a)
07/30/24	6.250	%	200,000		177,712
SERBIA 0.3%
Serbia International Bond (a)
12/03/18	5.875	%	200,000		209,000
TRINIDAD AND TOBAGO 0.4%
Petroleum Co. of Trinidad & Tobago Ltd. (a)
08/14/19	9.750	%	250,000		252,500
08/14/19	9.750	%	100,000		101,000
Total					353,500
TURKEY 0.9%
Export Credit Bank of Turkey (a)
09/23/21	5.000	%	300,000		293,625
Turkey Government International Bond
03/17/36	6.875	%	400,000		453,512
Total					747,137
UNITED KINGDOM 0.3%
Lloyds Banking Group PLC Junior Subordinated (b)
12/31/49	7.500	%	250,000		258,750

Issuer	Coupon Rate		Principal Amount		Value
Foreign Government Obligations (e) (continued)
VENEZUELA 0.4%
Petroleos de Venezuela SA (a)
05/16/24	6.000	%	$	800,000	$	236,000
Venezuela Government International Bond (a)
05/07/23	9.000	%	250,000		85,000
Total					321,000
Total Foreign Government Obligations (Cost: $9,247,852)					$	8,381,832

Issuer	Coupon Rate		Shares	Value
Equity-Linked Notes 20.5%
BNP Paribas (linked to a basket of 40 equity securities) (a)
03/31/16	15.560	%	3,000	2,901,000
Credit Suisse First Boston International AG (linked to a basket of 40 US equity securities) (a)
07/07/16	14.070	%	3,000	2,903,640
Deutsche Bank AG (a)
(linked to a basket of 39 equity securities)
02/05/16	12.700	%	3,100	2,852,000
(linked to common stock of Kraft Heinz Co. (The))
04/22/16	7.700	%	80	5,949
(linked to common stock of Bristol-Myers Squibb Co.)
03/04/16	6.320	%	1,360	83,394
Goldman Sachs International (a)
(linked to common stock of Dow Chemical Co. (The))
02/25/16	10.000	%	345	14,560
(linked to common stock of Eastman Chemical Co.)
02/25/16	7.650	%	170	10,429
(linked to common stock of JPMorgan Chase & Co.)
04/25/16	9.100	%	137	8,039
(linked to common stock of McDonald’s Corp.)
04/25/16	6.750	%	433	52,673
(linked to common stock of Microsoft Corp.)
04/25/16	10.000	%	1,286	69,055
(linked to common stock of Packaging Corp. of America)
04/25/16	14.100	%	181	9,390
JPMorgan Chase Bank NA (a)
(linked to a basket of 40 equity securities)
03/03/16	14.400	%	3,000	2,922,300
(linked to common stock of Blackstone Group LP (The))
02/23/16	15.360	%	620	16,120
(linked to common stock of EI du Pont de Nemours & Co.)
02/23/16	6.450	%	535	28,200
(linked to common stock of General Electric Co.)
04/19/16	7.250	%	803	23,271
Societe Generale SA (a)
(linked to a basket of 40 equity securities)
05/03/16	14.800	%	3,000	2,917,500
(linked to common stock of Intel Corp.)
03/08/16	6.030	%	62	54,858

Issuer	Coupon Rate		Shares		Value
Equity-Linked Notes (continued)
(linked to common stock of Johnson & Johnson)
03/08/16	6.590	%	$	54	$	54,923
UBS AG (a)
(linked to a basket of 40 US equity securities)
06/09/16	12.900	%	3,000		2,837,010
(linked to common stock of KKR & Co. LP)
02/25/16	20.650	%	1,220		15,897
Wells Fargo Bank NA (linked to common stock of PPG Industries, Inc.) (a)
02/23/16	4.390	%	133		12,636
Total Equity-Linked Notes (Cost: $18,590,385)					$	17,792,844
Issuer			Shares		Value
Limited Partnerships 3.8%
ENERGY 3.6%
Oil, Gas & Consumable Fuels 3.6%
Buckeye Partners LP			1,890		110,074
Cheniere Energy Partners LP			4,725		112,030
DCP Midstream Partners LP			8,356		156,842
Energy Transfer Partners LP			13,813		410,799
Enterprise Products Partners LP			20,090		480,352
MPLX LP			9,429		290,130
PBF Logistics LP			15,795		283,520
Phillips 66 Partners LP			2,505		141,983
Plains All American Pipeline LP			12,500		263,875
Sunoco Logistics Partners LP			4,180		93,089
Targa Resources Partners LP			3,515		48,296
Tesoro Logistics LP			5,315		235,614
Valero Energy Partners LP			2,785		123,598
Western Gas Partners LP			4,760		155,604
Williams Partners LP			9,113		200,668
Total					3,106,474
TOTAL ENERGY					3,106,474
UTILITIES 0.2%
Gas Utilities 0.2%
AmeriGas Partners LP			5,930		227,890
Total					227,890
TOTAL UTILITIES					227,890
Total Limited Partnerships (Cost: $5,144,678)					$	3,334,364

	Shares	Value
Money Market Funds 3.1%
Columbia Short-Term Cash Fund, 0.360% (f)(g)	2,724,265	$	2,724,265
Total Money Market Funds (Cost: $2,724,265)		$	2,724,265

Total Investments (Cost: $93,454,921) (h)	$	86,113,378(i)
Other Assets & Liabilities, Net		775,809
Net Assets	$	86,889,187

At January 31, 2016, cash totaling $43,200 was pledged as collateral.

Investments in Derivatives
Futures Contracts Outstanding at January 31, 2016

Long Futures Contracts Outstanding

Contract Description	Number of Contracts	Trading Currency	Notional Market Value ($)	Expiration Date	Unrealized Appreciation ($)	Unrealized Depreciation ($)
US 10YR NOTE (CBT)	32	USD	4,146,500	03/2016	112,247	—

Notes to Portfolio of Investments

(a)Represents privately placed and other securities and instruments exempt from SEC registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. The Fund may invest in private placements determined to be liquid as well as those determined to be illiquid. Private placements may be determined to be liquid under guidelines established by the Fund’s Board of Trustees.  At January 31, 2016, the value of these securities amounted to $42,077,734 or 48.43% of net assets.

(b)Variable rate security.

(c)Security, or a portion thereof, has been purchased on a when-issued or delayed delivery basis.

(d)Interest Only (IO) represents the right to receive the monthly interest payments on an underlying pool of mortgage loans.

(e)Principal and interest may not be guaranteed by the government.

(f)As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended January 31, 2016 are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds From Sales ($)		Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	4,177,778	47,249,306	(48,702,819	)	2,724,265	4,146	2,724,265

(g)The rate shown is the seven-day current annualized yield at January 31, 2016.

(h)At January 31, 2016, the cost of securities for federal income tax purposes was approximately $93,455,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	521,000
Unrealized Depreciation	(7,863,000		)
Net Unrealized Depreciation	$	(7,342,000	)

(i)Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Abbreviation Legend

ADRAmerican Depositary Receipt

CMOCollateralized Mortgage Obligation

PIKPayment-in-Kind

Currency Legend

USDUS Dollar

Fair Value Measurements

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

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

·Level 1 - Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (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 of the Notes to Financial Statements in the most recent shareholder report.

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 overseeing 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 January 31, 2016:

	Level 1Quoted Prices in Active Markets for Identical Assets ($)	Level 2Other Significant Observable Inputs ($)	Level 3Significant Unobservable Inputs ($)	Total ($)
Investments
Common Stocks
Consumer Discretionary	173,790	36,190	—	209,980
Consumer Staples	674,939	95,007	—	769,946
Energy	867,326	66,124	—	933,450
Financials	2,229,657	—	—	2,229,657
Health Care	578,520	52,244	—	630,764
Industrials	211,094	27,897	—	238,991
Information Technology	539,735	—	—	539,735
Materials	130,224	—	—	130,224
Telecommunication Services	373,467	46,322	—	419,789
Utilities	328,621	—	—	328,621
Total Common Stocks	6,107,373	323,784	—	6,431,157
Exchange-Traded Funds	7,023,949	—	—	7,023,949
Corporate Bonds & Notes	—	24,454,362	—	24,454,362
Residential Mortgage-Backed Securities - Agency	—	4,264,368	—	4,264,368
Residential Mortgage-Backed Securities - Non-Agency	—	4,113,781	—	4,113,781
Commercial Mortgage-Backed Securities - Non-Agency	—	2,178,076	—	2,178,076
Asset-Backed Securities - Non-Agency	—	1,674,821	345,719	2,020,540
U.S. Treasury Obligations	3,393,840	—	—	3,393,840
Foreign Government Obligations	—	8,381,832	—	8,381,832
Equity-Linked Notes	—	17,792,844	—	17,792,844
Limited Partnerships
Energy	3,106,474	—	—	3,106,474
Utilities	227,890	—	—	227,890
Total Limited Partnerships	3,334,364	—	—	3,334,364
Money Market Funds	—	2,724,265	—	2,724,265
Total Investments	19,859,526	65,908,133	345,719	86,113,378
Derivatives
Assets
Futures Contracts	112,247	—	—	112,247
Total	19,971,773	65,908,133	345,719	86,225,625

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 and/or fund per share market values which are not considered publicly available.  These assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation.  The model utilized by such third party statistical pricing service takes into account a security’s correlation to available market data including, but not limited to, intraday index, ADR, and exchange-traded fund movements.

Derivative instruments are valued at unrealized appreciation (depreciation).

Financial assets were transferred from Level 1 to Level 2 as the market for these assets is not considered publicly available. Fund per share market values were obtained using observable market inputs.

The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:

Transfers In		Transfers Out
Level 1 ($)	Level 2 ($)	Level 1 ($)	Level 2 ($)
-	4,177,778	4,177,778	-

Transfers between Level 1 and Level 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

The Fund does not hold any significant investments (greater than one percent of net assets) 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 asset backed securities classified as Level 3 securities are valued using the market approach and utilize single market quotations from broker dealers which may have included, but were not limited to, observable transactions for identical or similar assets in the market and the distressed nature of the security.  The appropriateness of fair values for these securities is monitored on an ongoing basis which may include results of back testing, manual price reviews and other control procedures.  Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.

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

Transfers In		Transfers Out
Level 2 ($)	Level 3 ($)	Level 2 ($)	Level 3 ($)
780,000	-	-	780,000

Transfers into 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

January 31, 2016 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Shares	Value
Common Stocks 91.8%
CONSUMER DISCRETIONARY 9.7%
Auto Components 2.6%
Cooper Tire & Rubber Co.	203,580	$	7,422,527
Dana Holding Corp.	417,308	4,961,792
Fuel Systems Solutions, Inc. (a)	176,218	689,012
Gentherm, Inc. (a)	62,986	2,520,070
Modine Manufacturing Co. (a)	381,050	2,446,341
Total		18,039,742
Automobiles 0.4%
Winnebago Industries, Inc.	158,923	2,798,634
Diversified Consumer Services 0.3%
K12, Inc. (a)	183,024	1,681,991
Hotels, Restaurants & Leisure 0.2%
Ignite Restaurant Group, Inc. (a)	360,508	1,391,561
Household Durables 1.9%
Cavco Industries, Inc. (a)	41,037	3,441,363
Ethan Allen Interiors, Inc.	154,780	4,132,626
Hooker Furniture Corp.	64,690	1,857,250
Lifetime Brands, Inc.	110,375	1,322,292
UCP, Inc., Class A (a)	422,340	2,500,253
Total		13,253,784
Leisure Products 0.5%
Johnson Outdoors, Inc., Class A	46,576	1,001,384
Malibu Boats, Inc., Class A (a)	159,675	2,086,952
Total		3,088,336
Media 0.9%
AMC Entertainment Holdings, Inc., Class A	290,211	6,326,600
Specialty Retail 1.6%
Aaron’s, Inc.	204,324	4,674,933
Citi Trends, Inc.	120,500	2,489,530
Pier 1 Imports, Inc.	338,800	1,361,976
Select Comfort Corp. (a)	121,490	2,558,580
Total		11,085,019
Textiles, Apparel & Luxury Goods 1.3%
Deckers Outdoor Corp. (a)	55,299	2,735,088
G-III Apparel Group Ltd. (a)	49,860	2,461,090
Steven Madden Ltd. (a)	105,825	3,417,089
Total		8,613,267
TOTAL CONSUMER DISCRETIONARY		66,278,934

Issuer	Shares	Value
Common Stocks (continued)
CONSUMER STAPLES 2.5%
Food & Staples Retailing 0.5%
Andersons, Inc. (The)	120,142	$	3,521,362
Food Products 1.5%
Fresh Del Monte Produce, Inc.	184,940	7,547,401
John B. Sanfilippo & Son, Inc.	46,224	2,772,978
Total		10,320,379
Personal Products 0.5%
Inter Parfums, Inc.	120,602	3,238,164
TOTAL CONSUMER STAPLES		17,079,905
ENERGY 5.2%
Energy Equipment & Services 1.3%
Aspen Aerogels, Inc. (a)	399,089	1,740,028
CARBO Ceramics, Inc.	116,220	1,923,441
Dawson Geophysical Co. (a)	386,679	1,229,639
Geospace Technologies Corp. (a)	167,000	1,805,270
Natural Gas Services Group, Inc. (a)	118,713	2,246,050
Total		8,944,428
Oil, Gas & Consumable Fuels 3.9%
Callon Petroleum Co. (a)	341,271	2,337,706
Clayton Williams Energy, Inc. (a)	159,039	2,732,290
Cobalt International Energy, Inc. (a)	264,860	1,003,819
Contango Oil & Gas Co. (a)	187,933	1,204,651
Eclipse Resources Corp. (a)	1,233,520	1,492,559
Jones Energy, Inc., Class A (a)	524,588	1,106,881
Matador Resources Co. (a)	205,510	3,294,325
Rice Energy, Inc. (a)	111,981	1,306,818
Sanchez Energy Corp. (a)	311,550	1,127,811
SM Energy Co.	114,850	1,605,603
Stone Energy Corp. (a)	522,541	1,609,426
Synergy Resources Corp. (a)	349,026	2,212,825
W&T Offshore, Inc. (a)	549,619	1,071,757
Whiting Petroleum Corp. (a)	114,370	840,620
WPX Energy, Inc. (a)	651,880	3,533,190
Total		26,480,281
TOTAL ENERGY		35,424,709
FINANCIALS 41.8%
Banks 18.0%
BancFirst Corp.	70,975	3,970,342
BankUnited, Inc.	197,616	6,659,659
Banner Corp.	125,671	5,215,347
Bridge Bancorp, Inc.	57,900	1,685,469

Issuer	Shares	Value
Common Stocks (continued)
FINANCIALS (CONTINUED)
Banks (continued)
Brookline Bancorp, Inc.	284,063	$	3,170,143
Capital City Bank Group, Inc.	212,820	3,011,403
Cascade Bancorp (a)	514,357	2,777,528
Centerstate Banks, Inc.	305,658	4,337,287
Columbia Banking System, Inc.	202,253	5,992,756
Community Trust Bancorp, Inc.	70,537	2,457,509
FCB Financial Holdings, Inc., Class A (a)	183,773	6,178,448
First Citizens BancShares Inc., Class A	37,991	9,348,065
First Financial Corp.	117,540	3,884,697
First of Long Island Corp. (The)	69,230	2,009,747
FirstMerit Corp.	195,529	3,789,352
Heritage Financial Corp.	77,053	1,395,430
Investors Bancorp, Inc.	676,119	7,903,831
Merchants Bancshares, Inc.	144,197	4,197,575
National Bank Holdings Corp., Class A	292,130	5,752,040
Northrim BanCorp, Inc.	196,079	4,531,386
Sierra Bancorp	65,627	1,194,411
Sterling Bancorp	263,178	4,134,526
Synovus Financial Corp.	231,249	7,060,032
Towne Bank	240,120	4,579,088
Trustmark Corp.	262,139	5,672,688
UMB Financial Corp.	123,350	5,785,115
Union Bankshares Corp.	158,604	3,643,134
Webster Financial Corp.	84,650	2,807,841
Total		123,144,849
Capital Markets 0.5%
INTL FCStone, Inc. (a)	121,975	3,438,475
Consumer Finance 0.7%
Cash America International, Inc.	114,748	3,435,555
Enova International, Inc. (a)	192,512	1,072,292
Total		4,507,847
Diversified Financial Services 0.4%
Pico Holdings, Inc. (a)	326,031	2,862,552
Insurance 8.1%
Argo Group International Holdings Ltd.	127,041	7,219,740
Baldwin & Lyons, Inc., Class B	125,761	3,110,070
EMC Insurance Group, Inc.	160,158	3,725,275
Employers Holdings, Inc.	200,174	4,986,334
FBL Financial Group, Inc., Class A	68,056	4,155,500
Hanover Insurance Group, Inc. (The)	87,470	7,127,930
Heritage Insurance Holdings, Inc.	179,310	3,553,924
Horace Mann Educators Corp.	119,661	3,675,986

Issuer	Shares	Value
Common Stocks (continued)
FINANCIALS (CONTINUED)
Insurance (continued)
National Western Life Group, Inc., Class A	18,549	$	4,279,811
Navigators Group, Inc. (The) (a)	63,395	5,554,036
Safety Insurance Group, Inc.	66,331	3,742,395
United Fire Group, Inc.	117,405	4,535,355
Total		55,666,356
Real Estate Investment Trusts (REITs) 9.9%
Altisource Residential Corp.	533,288	5,306,216
Chesapeake Lodging Trust	337,325	8,473,604
Cousins Properties, Inc.	787,694	6,789,922
EastGroup Properties, Inc.	75,968	4,055,932
Getty Realty Corp.	297,791	5,324,506
LaSalle Hotel Properties	287,420	6,369,227
Lexington Realty Trust	612,510	4,489,698
National Health Investors, Inc.	42,640	2,587,395
Potlatch Corp.	128,405	3,703,200
Resource Capital Corp.	316,120	3,293,971
Rexford Industrial Realty, Inc.	219,383	3,573,749
Sunstone Hotel Investors, Inc.	694,556	8,251,323
Terreno Realty Corp.	246,613	5,543,860
Total		67,762,603
Thrifts & Mortgage Finance 4.2%
Bank Mutual Corp.	271,319	2,137,994
BankFinancial Corp.	87,141	1,069,220
HomeStreet, Inc. (a)	252,879	5,178,962
Provident Financial Holdings, Inc.	57,955	1,013,053
Radian Group, Inc.	796,030	8,008,062
Washington Federal, Inc.	223,843	4,779,048
Westfield Financial, Inc.	360,722	2,878,561
WSFS Financial Corp.	115,652	3,360,847
Total		28,425,747
TOTAL FINANCIALS		285,808,429
HEALTH CARE 2.0%
Biotechnology 1.3%
ACADIA Pharmaceuticals, Inc. (a)	101,160	2,093,001
Dynavax Technologies Corp. (a)	121,845	2,935,246
Infinity Pharmaceuticals, Inc. (a)	425,330	2,641,299
Keryx Biopharmaceuticals, Inc. (a)	360,387	1,272,166
Total		8,941,712
Health Care Equipment & Supplies 0.3%
Masimo Corp. (a)	60,247	2,214,077

Issuer	Shares	Value
Common Stocks (continued)
HEALTH CARE (CONTINUED)
Pharmaceuticals 0.4%
Flex Pharma, Inc. (a)	174,698	$	1,453,487
Supernus Pharmaceuticals, Inc. (a)	91,406	1,036,544
Total		2,490,031
TOTAL HEALTH CARE		13,645,820
INDUSTRIALS 10.5%
Building Products 1.9%
Simpson Manufacturing Co., Inc.	182,650	5,959,870
Universal Forest Products, Inc.	99,034	6,822,452
Total		12,782,322
Commercial Services & Supplies 1.1%
Unifirst Corp.	71,055	7,482,092
Electrical Equipment 0.9%
EnerSys	74,347	3,600,625
General Cable Corp.	198,544	2,326,936
Total		5,927,561
Machinery 5.3%
Albany International Corp., Class A	148,721	5,044,616
Altra Industrial Motion Corp.	140,726	3,160,706
Dynamic Materials Corp.	295,497	1,805,487
EnPro Industries, Inc.	61,726	2,744,955
Gorman-Rupp Co.	84,895	2,158,031
Hardinge, Inc.	102,620	906,134
Kadant, Inc.	49,837	1,934,174
LB Foster Co., Class A	89,458	1,031,451
Lydall, Inc. (a)	107,253	3,029,897
Mueller Industries, Inc.	242,342	6,167,604
Standex International Corp.	49,374	3,565,790
Twin Disc, Inc.	75,756	866,649
Wabash National Corp. (a)	323,880	3,582,113
Total		35,997,607
Professional Services 0.3%
TrueBlue, Inc. (a)	103,757	2,369,810
Road & Rail 0.8%
Landstar System, Inc.	29,162	1,674,190
Werner Enterprises, Inc.	164,499	3,972,651
Total		5,646,841
Trading Companies & Distributors 0.2%
Houston Wire & Cable Co.	245,091	1,350,451
TOTAL INDUSTRIALS		71,556,684

Issuer	Shares	Value
Common Stocks (continued)
INFORMATION TECHNOLOGY 13.4%
Communications Equipment 1.9%
Alliance Fiber Optic Products, Inc. (a)	235,475	$	3,383,776
Digi International, Inc. (a)	195,538	1,783,306
Plantronics, Inc.	104,400	4,680,252
Polycom, Inc. (a)	283,690	2,890,801
Total		12,738,135
Electronic Equipment, Instruments & Components 2.7%
AVX Corp.	311,660	3,577,857
GSI Group, Inc. (a)	153,564	1,898,051
MTS Systems Corp.	57,737	3,083,156
OSI Systems, Inc. (a)	104,110	5,707,310
Vishay Intertechnology, Inc.	385,430	4,417,028
Total		18,683,402
Internet Software & Services 1.7%
j2 Global, Inc.	57,155	4,144,309
RetailMeNot, Inc. (a)	225,470	2,051,777
WebMD Health Corp. (a)	110,230	5,633,855
Total		11,829,941
IT Services 2.2%
Higher One Holdings, Inc. (a)	617,720	2,155,843
Lionbridge Technologies, Inc. (a)	468,103	2,167,317
Mantech International Corp., Class A	244,637	7,052,885
TeleTech Holdings, Inc.	140,827	3,761,489
Total		15,137,534
Semiconductors & Semiconductor Equipment 3.5%
Cypress Semiconductor Corp.	552,489	4,342,564
Entegris, Inc. (a)	363,342	4,236,568
IXYS Corp.	256,910	3,064,936
M/A-COM Technology Solutions Holdings, Inc. (a)	87,891	3,383,803
Silicon Laboratories, Inc. (a)	156,150	7,120,440
SunEdison Semiconductor Ltd. (a)	251,550	1,559,610
Total		23,707,921
Software 1.0%
Mentor Graphics Corp.	245,910	4,273,916
Silver Spring Networks, Inc. (a)	247,143	2,829,787
Total		7,103,703
Technology Hardware, Storage & Peripherals 0.4%
Stratasys Ltd. (a)	151,806	2,474,438
TOTAL INFORMATION TECHNOLOGY		91,675,074

Issuer	Shares	Value
Common Stocks (continued)
MATERIALS 3.1%
Chemicals 1.3%
Axiall Corp.	233,350	$	4,183,965
Flotek Industries, Inc. (a)	205,472	1,372,553
Tronox Ltd., Class A	952,328	3,399,811
Total		8,956,329
Containers & Packaging 0.2%
Greif, Inc., Class A	64,279	1,698,894
Metals & Mining 1.6%
Allegheny Technologies, Inc.	94,430	885,753
Commercial Metals Co.	384,530	5,352,658
Olympic Steel, Inc.	143,738	1,342,513
TimkenSteel Corp.	208,460	1,878,225
Universal Stainless & Alloy Products, Inc. (a)	179,054	1,224,729
Total		10,683,878
TOTAL MATERIALS		21,339,101
TELECOMMUNICATION SERVICES 0.7%
Diversified Telecommunication Services 0.2%
magicJack VocalTec Ltd. (a)	215,743	1,641,804
Wireless Telecommunication Services 0.5%
Shenandoah Telecommunications Co.	153,066	3,517,457
TOTAL TELECOMMUNICATION SERVICES		5,159,261
UTILITIES 2.9%
Electric Utilities 1.5%
IDACORP, Inc.	55,234	3,843,734

Issuer	Shares	Value
Common Stocks (continued)
UTILITIES (CONTINUED)
Electric Utilities (continued)
Portland General Electric Co.	162,579	$	6,319,446
Total		10,163,180
Gas Utilities 0.9%
Southwest Gas Corp.	108,845	6,403,351
Multi-Utilities 0.5%
Vectren Corp.	72,476	3,032,396
TOTAL UTILITIES		19,598,927
Total Common Stocks (Cost: $555,973,890)		$	627,566,844

	Shares	Value
Exchange-Traded Funds 5.8%
iShares Russell 2000 Value ETF	392,460	33,720,163
iShares S&P Small-Cap 600 Value ETF	57,480	5,853,189
Total Exchange-Traded Funds (Cost: $38,340,966)		$	39,573,352
Money Market Funds 2.0%
Columbia Short-Term Cash Fund, 0.360% (b)(c)	13,749,905	$	13,749,905
Total Money Market Funds (Cost: $13,749,905)		$	13,749,905
Total Investments
(Cost: $608,064,761) (d)		$	680,890,101(e)
Other Assets & Liabilities, Net		2,777,447
Net Assets		$	683,667,548

Notes to Portfolio of Investments

(a)	Non-income producing investment.
(b)	The rate shown is the seven-day current annualized yield at January 31, 2016.
(c)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended January 31, 2016 are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds From Sales ($)		Realized Gain (Loss) ($)	Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	34,684,652	235,003,387	(255,938,134	)	—	13,749,905	11,636	13,749,905

(d) At January 31, 2016, the cost of securities for federal income tax purposes was approximately $608,065,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	149,729,000
Unrealized Depreciation	(76,904,000		)
Net Unrealized Appreciation	$	72,825,000

(e) Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

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

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

·Level 1 - Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (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 overseeing 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 January 31, 2016:

	Level 1Quoted Prices in Active Markets for Identical Assets ($)	Level 2Other Significant Observable Inputs ($)	Level 3Significant Unobservable Inputs ($)	Total ($)
Investments
Common Stocks
Consumer Discretionary	66,278,934	—	—	66,278,934
Consumer Staples	17,079,905	—	—	17,079,905
Energy	35,424,709	—	—	35,424,709
Financials	285,808,429	—	—	285,808,429
Health Care	13,645,820	—	—	13,645,820
Industrials	71,556,684	—	—	71,556,684
Information Technology	91,675,074	—	—	91,675,074
Materials	21,339,101	—	—	21,339,101
Telecommunication Services	5,159,261	—	—	5,159,261
Utilities	19,598,927	—	—	19,598,927
Total Common Stocks	627,566,844	—	—	627,566,844
Exchange-Traded Funds	39,573,352	—	—	39,573,352
Money Market Funds	—	13,749,905	—	13,749,905
Total Investments	667,140,196	13,749,905	—	680,890,101

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 valued based upon utilizing observable market inputs, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets and/or fund per share market values which are not considered publicly available.

Financial assets were transferred from Level 1 to Level 2 as the market for these assets is not considered publicly available. Fund per share market values were obtained using observable market inputs.

The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:

Transfers In		Transfers Out
Level 1 ($)	Level 2 ($)	Level 1 ($)	Level 2 ($)
—	34,684,652	34,684,652	—

Transfers between Level 1 and Level 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

There were no transfers of financial assets between Levels 2 and 3 during the period.

Portfolio of Investments

Columbia Total Return Bond Fund (formerly Columbia Intermediate Bond Fund)

January 31, 2016 (Unaudited)

(Percentages represent value of investments compared to net assets)

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes 49.4%
Aerospace & Defense 0.7%
Huntington Ingalls Industries, Inc. (a)
12/15/21	5.000	%	$	940,000	$	970,550
11/15/25	5.000	%	815,000		839,450
Lockheed Martin Corp.
09/15/21	3.350	%	4,794,000		5,001,868
01/15/23	3.100	%	5,259,000		5,344,243
01/15/26	3.550	%	6,194,000		6,354,623
05/15/36	4.500	%	2,900,000		3,007,326
TransDigm, Inc.
07/15/22	6.000	%	387,000		379,260
07/15/24	6.500	%	1,154,000		1,128,035
TransDigm, Inc. (a)
05/15/25	6.500	%	414,000		397,957
Total					23,423,312
Automotive 2.5%
American Axle & Manufacturing, Inc.
02/15/19	5.125	%	217,000		213,474
Ford Motor Co.
02/01/29	6.375	%	2,340,000		2,681,027
Ford Motor Credit Co. LLC
10/05/18	2.551	%	9,065,000		9,010,229
01/08/19	2.943	%	9,080,000		9,099,695
01/08/26	4.389	%	6,250,000		6,296,706
Ford Motor Credit Co. LLC (b)
11/08/16	0.794	%	8,815,000		8,760,118
03/27/17	1.233	%	15,210,000		15,062,493
General Motors Financial Co., Inc.
01/15/19	3.100	%	26,769,000		26,542,829
Schaeffler Finance BV (a)
05/15/21	4.250	%	300,000		297,750
05/15/21	4.750	%	1,710,000		1,710,000
Schaeffler Holding Finance BV PIK (a)
11/15/19	6.250	%	521,000		543,142
Tenneco, Inc.
12/15/24	5.375	%	162,000		164,025
ZF North America Capital, Inc. (a)
04/29/22	4.500	%	211,000		203,351
04/29/25	4.750	%	826,000		774,375
Total					81,359,214
Banking 9.5%
Ally Financial, Inc.
05/19/22	4.625	%	1,434,000		1,434,000
09/30/24	5.125	%	3,621,000		3,670,789
03/30/25	4.625	%	352,000		342,320
Subordinated
11/20/25	5.750	%	389,000		388,027
BNP Paribas SA Junior Subordinated (a)(b)
12/31/49	7.375	%	3,305,000		3,243,031
Bank of America Corp.
01/11/23	3.300	%	3,766,000		3,709,518

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Banking (continued)
Subordinated
05/02/17	5.700	%	$	7,605,000	$	7,922,296
01/22/25	4.000	%	1,625,000		1,588,080
04/21/25	3.950	%	1,615,000		1,574,594
Bank of New York Mellon Corp. (The)
05/15/19	5.450	%	3,325,000		3,687,545
Bank of New York Mellon Corp. (The) (b)
Junior Subordinated
12/29/49	4.500	%	7,866,000		7,099,065
Barclays Bank PLC
Subordinated
09/11/24	4.375	%	2,295,000		2,236,338
Barclays Bank PLC (b)
Junior Subordinated
12/31/49	6.625	%	3,996,000		3,880,116
Barclays PLC
01/12/26	4.375	%	3,355,000		3,380,629
Capital One Bank USA NA Subordinated
02/15/23	3.375	%	2,510,000		2,452,117
Citigroup, Inc.
Subordinated
08/25/36	6.125	%	1,855,000		2,057,364
Citigroup, Inc. (b)
08/14/17	0.852	%	13,820,000		13,735,228
Cooperatieve Rabobank UA Junior Subordinated (a)(b)
12/31/49	11.000	%	5,164,000		6,288,203
Discover Financial Services
04/27/22	5.200	%	7,947,000		8,646,368
11/21/22	3.850	%	4,850,000		4,951,486
Fifth Third Bancorp Junior Subordinated (b)
12/31/49	5.100	%	13,397,000		12,023,807
First Horizon National Corp.
12/15/20	3.500	%	3,578,000		3,572,175
HBOS PLC Subordinated (a)
05/21/18	6.750	%	8,382,000		9,160,277
HSBC Holdings PLC Junior Subordinated (b)
12/31/49	6.375	%	3,822,000		3,678,675
JPMorgan Chase & Co. (b)
12/29/49	6.000	%	3,220,000		3,213,962
Junior Subordinated
12/31/49	6.100	%	15,191,000		15,228,977
JPMorgan Chase Bank NA Subordinated (b)
06/13/16	0.832	%	10,850,000		10,838,315
JPMorgan Chase Capital XXI Junior Subordinated (b)
02/02/37	1.563	%	19,220,000		14,559,150

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Banking (continued)
KeyCorp Capital I Junior Subordinated (b)
07/01/28	1.352	%	$	9,842,000	$	8,070,440
Lloyds Bank PLC
05/14/18	1.750	%	11,120,000		11,124,626
Lloyds Banking Group PLC Subordinated (a)
12/10/25	4.582	%	23,423,000		23,762,158
M&T Bank Corp. Junior Subordinated
12/31/49	6.875	%	9,101,000		9,180,634
Mellon Capital IV Junior Subordinated (b)
06/29/49	4.000	%	1,035,000		776,250
PNC Bank NA
06/01/25	3.250	%	3,395,000		3,422,279
Rabobank Capital Funding Trust III Junior Subordinated (a)(b)
12/31/49	5.254	%	10,396,000		10,447,980
Royal Bank of Scotland Group PLC
Subordinated
05/28/24	5.125	%	602,000		604,348
Royal Bank of Scotland Group PLC (b)
Junior Subordinated
12/31/49	8.000	%	12,376,000		12,700,870
Santander Issuances SAU Subordinated
11/19/25	5.179	%	12,120,000		11,467,229
Santander UK Group Holdings PLC (a)
Subordinated
09/15/25	4.750	%	16,179,000		16,054,033
09/15/45	5.625	%	5,441,000		5,434,542
State Street Capital Trust IV Junior Subordinated (b)
06/15/37	1.512	%	1,990,000		1,563,145
State Street Corp. Junior Subordinated
03/15/18	4.956	%	9,929,000		10,440,870
Synchrony Financial
01/15/19	2.600	%	4,895,000		4,887,643
Synovus Financial Corp.
02/15/19	7.875	%	321,000		351,495
Synovus Financial Corp. (b)
Subordinated
12/15/25	5.750	%	11,255,000		11,367,550
U.S. Bancorp Subordinated
07/15/22	2.950	%	3,942,000		3,975,432
Washington Mutual Bank Subordinated (c)(d)(e)
01/15/15	0.000	%	27,379,000		41,068

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Banking (continued)
Wells Fargo & Co. Junior Subordinated (b)
12/31/49	5.900	%	$	10,138,000	$	10,226,707
Total					310,461,751
Brokerage/Asset Managers/Exchanges 0.1%
E*TRADE Financial Corp.
11/15/22	5.375	%	351,000		369,427
09/15/23	4.625	%	2,502,000		2,464,470
National Financial Partners Corp. (a)
07/15/21	9.000	%	93,000		83,700
Total					2,917,597
Building Materials 0.3%
Allegion PLC
09/15/23	5.875	%	605,000		624,663
Allegion US Holding Co., Inc.
10/01/21	5.750	%	182,000		189,280
American Builders & Contractors Supply Co., Inc. (a)
04/15/21	5.625	%	1,591,000		1,620,831
12/15/23	5.750	%	192,000		195,600
Beacon Roofing Supply, Inc. (a)
10/01/23	6.375	%	907,000		935,344
Gibraltar Industries, Inc.
02/01/21	6.250	%	209,000		209,523
HD Supply, Inc.
07/15/20	7.500	%	891,000		926,640
07/15/20	11.500	%	1,435,000		1,582,087
HD Supply, Inc. (a)
12/15/21	5.250	%	1,962,000		2,018,407
Nortek, Inc.
04/15/21	8.500	%	364,000		375,830
RSI Home Products, Inc. (a)
03/15/23	6.500	%	214,000		219,885
USG Corp. (a)
11/01/21	5.875	%	122,000		125,355
Total					9,023,445
Cable and Satellite 0.8%
Altice US Finance I Corp. (a)
07/15/23	5.375	%	791,000		794,955
CCO Holdings LLC/Capital Corp.
01/31/22	6.625	%	404,000		428,240
09/30/22	5.250	%	143,000		144,788
CCO Holdings LLC/Capital Corp. (a)
05/01/23	5.125	%	545,000		545,000
05/01/25	5.375	%	1,586,000		1,570,140
05/01/27	5.875	%	1,325,000		1,305,125
CCOH Safari LLC (a)
02/15/26	5.750	%	189,000		187,936
CSC Holdings LLC
11/15/21	6.750	%	223,000		220,213

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Cable and Satellite (continued)
Cable One, Inc. (a)
06/15/22	5.750	%	$	138,000	$	139,380
Cequel Communications Holdings I LLC/Capital Corp. (a)
12/15/21	5.125	%	1,824,000		1,641,600
12/15/21	5.125	%	118,000		106,200
DISH DBS Corp.
06/01/21	6.750	%	2,134,000		2,176,680
11/15/24	5.875	%	125,000		111,406
DigitalGlobe, Inc. (a)
02/01/21	5.250	%	904,000		791,000
Intelsat Jackson Holdings SA
10/15/20	7.250	%	256,000		220,160
04/01/21	7.500	%	745,000		636,975
08/01/23	5.500	%	1,240,000		988,900
Intelsat Luxembourg SA
06/01/23	8.125	%	189,000		77,963
Neptune Finco Corp. (a)
01/15/23	10.125	%	238,000		251,685
10/15/25	6.625	%	1,836,000		1,893,375
10/15/25	10.875	%	2,033,000		2,157,521
Sirius XM Radio, Inc. (a)
04/15/25	5.375	%	789,000		785,055
UPCB Finance IV Ltd. (a)
01/15/25	5.375	%	1,272,000		1,221,120
Unitymedia GmbH (a)
01/15/25	6.125	%	403,000		409,126
Unitymedia Hessen GmbH & Co. KG NRW (a)
01/15/23	5.500	%	1,877,000		1,933,310
01/15/25	5.000	%	273,000		272,317
Videotron Ltd.
07/15/22	5.000	%	1,706,000		1,720,927
Virgin Media Finance PLC (a)
10/15/24	6.000	%	200,000		201,500
01/15/25	5.750	%	2,285,000		2,262,150
Virgin Media Secured Finance PLC (a)
01/15/26	5.250	%	810,000		801,900
Total					25,996,647
Chemicals 0.3%
Angus Chemical Co. (a)
02/15/23	8.750	%	803,000		759,839
Axalta Coating Systems Dutch Holding B BV/U.S. Holdings, Inc. (a)
05/01/21	7.375	%	365,000		381,425
Celanese U.S. Holdings LLC
06/15/21	5.875	%	1,804,000		1,912,240
Chemours Co. LLC (The) (a)
05/15/23	6.625	%	1,048,000		641,900
05/15/25	7.000	%	1,214,000		740,540
Eco Services Operations LLC/Finance Corp. (a)
11/01/22	8.500	%	297,000		258,390

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Chemicals (continued)
Huntsman International LLC (a)
11/15/22	5.125	%	$	303,000	$	260,580
INEOS Group Holdings SA (a)
08/15/18	6.125	%	69,000		68,914
02/15/19	5.875	%	820,000		797,450
NOVA Chemicals Corp. (a)
05/01/25	5.000	%	1,301,000		1,219,687
PQ Corp. (a)
11/01/18	8.750	%	2,334,000		2,170,620
Platform Specialty Products Corp. (a)
05/01/21	10.375	%	288,000		268,560
02/01/22	6.500	%	648,000		508,680
WR Grace & Co. (a)
10/01/21	5.125	%	438,000		440,190
10/01/24	5.625	%	640,000		636,800
Total					11,065,815
Construction Machinery 0.2%
John Deere Capital Corp. (b)
01/16/18	0.910	%	6,355,000		6,327,108
United Rentals North America, Inc.
04/15/22	7.625	%	351,000		361,091
Total					6,688,199
Consumer Cyclical Services 0.2%
ADT Corp. (The)
07/15/22	3.500	%	871,000		786,077
APX Group, Inc.
12/01/19	6.375	%	1,621,000		1,550,081
12/01/20	8.750	%	420,000		337,050
Corrections Corp. of America
10/15/22	5.000	%	117,000		118,609
IHS, Inc.
11/01/22	5.000	%	1,222,000		1,222,000
Interval Acquisition Corp. (a)
04/15/23	5.625	%	941,000		936,295
Monitronics International, Inc.
04/01/20	9.125	%	375,000		297,188
Service Corp. International
10/01/18	7.625	%	600,000		671,628
Total					5,918,928
Consumer Products 0.7%
Jarden Corp. (a)
11/15/23	5.000	%	781,000		802,477
Procter & Gamble Co. (The) (f)
02/02/21	1.850	%	5,785,000		5,808,290
02/02/26	2.700	%	6,315,000		6,331,129
Scotts Miracle-Gro Co. (The) (a)
10/15/23	6.000	%	1,544,000		1,613,480

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Consumer Products (continued)
Serta Simmons Bedding LLC (a)
10/01/20	8.125	%	$	1,531,000	$	1,567,361
Spectrum Brands, Inc.
11/15/22	6.625	%	1,733,000		1,845,645
Spectrum Brands, Inc. (a)
07/15/25	5.750	%	1,183,000		1,212,575
Springs Industries, Inc.
06/01/21	6.250	%	699,000		693,758
Tempur Sealy International, Inc.
12/15/20	6.875	%	430,000		452,575
Tempur Sealy International, Inc. (a)
10/15/23	5.625	%	1,382,000		1,409,640
Total					21,736,930
Diversified Manufacturing 3.0%
Entegris, Inc. (a)
04/01/22	6.000	%	1,120,000		1,136,800
GE Capital Trust I Subordinated (b)
11/15/67	6.375	%	4,946,000		5,320,041
General Electric Co. (b)
Junior Subordinated
12/31/49	4.200	%	2,341		2,294
12/31/49	5.000	%	68,780,000		70,843,400
Subordinated
11/15/67	6.375	%	18,756,000		19,881,360
Total					97,183,895
Electric 3.8%
AES Corp. (The)
07/01/21	7.375	%	466,000		479,980
Alabama Power Co.
04/01/25	2.800	%	2,815,000		2,787,697
01/15/42	4.100	%	1,368,000		1,347,163
01/02/46	4.300	%	3,655,000		3,748,623
Arizona Public Service Co.
11/15/45	4.350	%	4,425,000		4,668,530
CMS Energy Corp.
02/15/18	5.050	%	10,261,000		10,946,425
Calpine Corp.
01/15/23	5.375	%	1,693,000		1,540,630
Commonwealth Edison Co.
11/15/45	4.350	%	4,995,000		5,205,774
Dominion Resources, Inc.
10/01/25	3.900	%	4,920,000		4,975,222
Duke Energy Ohio, Inc.
09/01/23	3.800	%	50,000		53,365
Duke Energy Progress LLC
03/30/44	4.375	%	1,635,000		1,700,850
Duke Energy Progress, Inc.
08/15/45	4.200	%	7,295,000		7,385,903

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Electric (continued)
Exelon Corp. (a)
06/15/25	3.950	%	$	4,241,000	$	4,247,586
FPL Energy National Wind LLC (a)
03/10/24	5.608	%	235,368		235,368
Florida Power & Light Co.
12/01/25	3.125	%	7,295,000		7,442,169
Georgia Power Co.
09/01/40	4.750	%	1,727,000		1,768,339
MidAmerican Energy Co.
10/15/24	3.500	%	3,080,000		3,206,339
NRG Energy, Inc.
07/15/22	6.250	%	1,733,000		1,429,725
05/01/24	6.250	%	95,000		75,762
NRG Yield Operating LLC
08/15/24	5.375	%	2,095,000		1,759,800
Nevada Power Co.
05/15/18	6.500	%	2,173,000		2,427,878
Niagara Mohawk Power Corp. (a)
10/01/24	3.508	%	3,325,000		3,426,858
Oncor Electric Delivery Co. LLC
04/01/25	2.950	%	7,410,000		7,140,068
04/01/45	3.750	%	1,650,000		1,439,406
PPL Capital Funding, Inc.
06/01/18	1.900	%	6,725,000		6,714,939
06/15/22	4.200	%	3,070,000		3,280,654
12/01/22	3.500	%	3,095,000		3,163,273
06/01/23	3.400	%	5,582,000		5,614,057
Pacific Gas & Electric Co.
06/15/23	3.250	%	3,567,000		3,630,004
03/01/34	6.050	%	2,160,000		2,617,395
Public Service Electric & Gas Co.
11/01/45	4.150	%	4,630,000		4,757,353
Southern California Edison Co.
09/01/40	4.500	%	1,726,000		1,832,596
Talen Energy Supply LLC
06/01/25	6.500	%	723,000		491,640
Toledo Edison Co. (The)
05/15/37	6.150	%	4,371,000		5,013,485
TransAlta Corp.
06/03/17	1.900	%	6,929,000		6,499,707
Total					123,054,563
Finance Companies 1.2%
AerCap Ireland Capital Ltd./Global Aviation Trust
10/30/20	4.625	%	197,000		194,045
05/15/21	4.500	%	1,649,000		1,616,020
10/01/21	5.000	%	5,110,000		5,110,000
Aircastle Ltd.
03/15/21	5.125	%	198,000		195,525
02/15/22	5.500	%	967,000		962,165
CIT Group, Inc.
05/15/20	5.375	%	1,505,000		1,557,675

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Finance Companies (continued)
CIT Group, Inc. (a)
02/15/19	5.500	%	$	1,521,000	$	1,574,235
HSBC Finance Corp. Subordinated
01/15/21	6.676	%	9,539,000		10,759,353
International Lease Finance Corp.
12/15/20	8.250	%	521,000		593,940
Navient Corp.
06/15/18	8.450	%	1,535,000		1,588,725
01/15/19	5.500	%	725,000		679,687
10/26/20	5.000	%	49,000		42,385
01/25/22	7.250	%	190,000		169,100
03/25/24	6.125	%	227,000		186,424
OneMain Financial Holdings, Inc. (a)
12/15/19	6.750	%	167,000		164,495
12/15/21	7.250	%	1,451,000		1,436,490
Provident Funding Associates LP/Finance Corp. (a)
06/15/21	6.750	%	744,000		708,660
Quicken Loans, Inc. (a)
05/01/25	5.750	%	297,000		278,809
Springleaf Finance Corp.
06/01/20	6.000	%	396,000		361,350
10/01/21	7.750	%	823,000		773,620
10/01/23	8.250	%	238,000		223,720
Visa, Inc.
12/14/25	3.150	%	5,635,000		5,728,502
12/14/45	4.300	%	4,715,000		4,866,375
iStar, Inc.
07/01/19	5.000	%	825,000		775,500
Total					40,546,800
Food and Beverage 2.5%
Anheuser-Busch InBev Finance, Inc.
02/01/19	1.900	%	8,625,000		8,640,887
02/01/23	3.300	%	13,470,000		13,671,471
02/01/26	3.650	%	5,715,000		5,792,078
02/01/36	4.700	%	6,006,000		6,084,775
02/01/46	4.900	%	2,263,000		2,343,504
Aramark Services, Inc.
03/15/20	5.750	%	663,000		687,879
Aramark Services, Inc. (a)
01/15/24	5.125	%	354,000		365,505
B&G Foods, Inc.
06/01/21	4.625	%	180,000		179,550
ConAgra Foods, Inc.
08/15/39	6.625	%	13,044,000		14,327,634
01/25/43	4.650	%	1,630,000		1,454,630
Constellation Brands, Inc.
11/15/19	3.875	%	270,000		278,100
11/15/24	4.750	%	3,040,000		3,173,000
12/01/25	4.750	%	53,000		54,723
Diamond Foods, Inc. (a)
03/15/19	7.000	%	593,000		613,755

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Food and Beverage (continued)
Kraft Heinz Co. (The) (a)
07/15/45	5.200	%	$	2,880,000	$	3,028,876
Molson Coors Brewing Co.
05/01/17	2.000	%	12,460,000		12,496,695
05/01/42	5.000	%	6,030,000		5,759,530
Pinnacle Foods Finance LLC/Corp. (a)
01/15/24	5.875	%	113,000		116,955
Post Holdings, Inc.
02/15/22	7.375	%	127,000		133,826
Post Holdings, Inc. (a)
12/15/22	6.000	%	12,000		11,910
03/15/24	7.750	%	1,490,000		1,586,850
Treehouse Foods, Inc. (a)
02/15/24	6.000	%	160,000		164,600
WhiteWave Foods Co. (The)
10/01/22	5.375	%	815,000		865,937
Total					81,832,670
Gaming 0.3%
Boyd Gaming Corp.
05/15/23	6.875	%	198,000		200,970
GLP Capital LP/Financing II, Inc.
11/01/18	4.375	%	940,000		944,582
11/01/23	5.375	%	774,000		741,105
International Game Technology PLC (a)
02/15/22	6.250	%	998,000		960,575
02/15/25	6.500	%	325,000		290,875
MGM Resorts International
03/01/18	11.375	%	1,276,000		1,461,020
10/01/20	6.750	%	326,000		339,040
12/15/21	6.625	%	212,000		217,830
03/15/23	6.000	%	954,000		951,019
Pinnacle Entertainment, Inc.
08/01/21	6.375	%	413,000		437,780
Scientific Games International, Inc.
12/01/22	10.000	%	724,000		503,180
Scientific Games International, Inc. (a)
01/01/22	7.000	%	2,536,000		2,383,840
Seminole Tribe of Florida, Inc. (a)
10/01/20	7.804	%	475,000		504,645
Tunica-Biloxi Gaming Authority (a)(d)
05/15/16	0.000	%	577,000		284,172
Total					10,220,633
Health Care 1.3%
Acadia Healthcare Co., Inc.
02/15/23	5.625	%	127,000		119,698
Alere, Inc. (a)
07/01/23	6.375	%	426,000		402,570
Amsurg Corp.
07/15/22	5.625	%	985,000		988,694

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Health Care (continued)
Becton Dickinson and Co.
05/15/24	3.875	%	$	1,770,000	$	1,811,714
CHS/Community Health Systems, Inc.
08/01/21	5.125	%	966,000		958,755
02/01/22	6.875	%	1,141,000		1,032,605
ConvaTec Finance International SA Junior Subordinated PIK (a)
01/15/19	8.250	%	637,000		566,930
DaVita HealthCare Partners, Inc.
08/15/22	5.750	%	360,000		372,600
07/15/24	5.125	%	1,904,000		1,914,710
05/01/25	5.000	%	342,000		336,443
Emdeon, Inc.
12/31/19	11.000	%	257,000		267,923
Emdeon, Inc. (a)
02/15/21	6.000	%	803,000		746,790
ExamWorks Group, Inc.
04/15/23	5.625	%	785,000		788,827
Fresenius Medical Care U.S. Finance II, Inc. (a)
07/31/19	5.625	%	335,000		362,637
01/31/22	5.875	%	943,000		1,020,797
10/15/24	4.750	%	974,000		978,870
HCA, Inc.
02/15/22	7.500	%	1,004,000		1,114,440
02/01/25	5.375	%	3,122,000		3,157,122
04/15/25	5.250	%	3,739,000		3,832,475
HealthSouth Corp.
11/01/24	5.750	%	328,000		323,766
HealthSouth Corp. (a)
11/01/24	5.750	%	111,000		109,567
09/15/25	5.750	%	60,000		58,188
Hologic, Inc. (a)
07/15/22	5.250	%	1,233,000		1,276,155
Kinetic Concepts, Inc./KCI U.S.A., Inc.
11/01/18	10.500	%	266,000		258,020
LifePoint Health, Inc.
12/01/21	5.500	%	928,000		941,920
MEDNAX, Inc. (a)
12/01/23	5.250	%	477,000		488,925
MPH Acquisition Holdings LLC (a)
04/01/22	6.625	%	1,585,000		1,588,962
Memorial Sloan-Kettering Cancer Center
07/01/52	4.125	%	9,530,000		9,283,821
Sterigenics-Nordion Holdings LLC (a)
05/15/23	6.500	%	1,562,000		1,493,662
Surgical Care Affiliates, Inc. (a)
04/01/23	6.000	%	481,000		464,165
Tenet Healthcare Corp.
10/01/20	6.000	%	801,000		847,057
04/01/21	4.500	%	1,599,000		1,567,020
04/01/22	8.125	%	1,670,000		1,674,175

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Health Care (continued)
06/15/23	6.750	%	$	185,000	$	171,125
Total					41,321,128
Healthcare Insurance 0.1%
Centene Corp.
05/15/22	4.750	%	1,595,000		1,531,200
Centene Escrow Corp. (a)(f)
02/15/21	5.625	%	260,000		264,550
02/15/24	6.125	%	383,000		393,533
Molina Healthcare, Inc. (a)
11/15/22	5.375	%	1,569,000		1,565,077
Total					3,754,360
Home Construction 0.2%
CalAtlantic Group, Inc.
12/15/21	6.250	%	434,000		457,870
11/15/24	5.875	%	754,000		782,275
D.R. Horton, Inc.
09/15/22	4.375	%	310,000		308,450
08/15/23	5.750	%	1,254,000		1,319,835
Meritage Homes Corp.
04/01/22	7.000	%	813,000		833,325
06/01/25	6.000	%	1,035,000		1,009,125
Taylor Morrison Communities, Inc./Monarch, Inc. (a)
04/15/23	5.875	%	246,000		230,010
03/01/24	5.625	%	154,000		139,755
Toll Brothers Finance Corp.
11/15/25	4.875	%	305,000		298,900
Total					5,379,545
Independent Energy 1.8%
Anadarko Petroleum Corp.
09/15/17	6.375	%	7,875,000		7,957,128
Antero Resources Corp. (a)
06/01/23	5.625	%	249,000		206,670
Canadian Natural Resources Ltd.
11/15/21	3.450	%	3,984,000		3,112,042
Carrizo Oil & Gas, Inc.
04/15/23	6.250	%	2,108,000		1,472,965
Cimarex Energy Co.
06/01/24	4.375	%	7,565,000		6,622,477
Concho Resources, Inc.
04/01/23	5.500	%	3,240,000		2,938,648
Continental Resources, Inc.
06/01/24	3.800	%	4,823,000		3,116,246
CrownRock LP/Finance, Inc. (a)
04/15/21	7.125	%	480,000		424,800
02/15/23	7.750	%	945,000		841,050
Diamondback Energy, Inc.
10/01/21	7.625	%	99,000		98,505
Kerr-McGee Corp.
07/01/24	6.950	%	5,432,000		5,390,940

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Independent Energy (continued)
Laredo Petroleum, Inc.
01/15/22	5.625	%	$	398,000	$	282,580
05/01/22	7.375	%	479,000		355,658
03/15/23	6.250	%	2,460,000		1,771,200
Noble Energy, Inc.
11/15/24	3.900	%	8,080,000		6,797,017
11/15/43	5.250	%	3,389,000		2,499,316
11/15/44	5.050	%	5,925,000		4,276,280
Parsley Energy LLC/Finance Corp. (a)
02/15/22	7.500	%	1,118,000		1,073,280
RSP Permian, Inc.
10/01/22	6.625	%	1,467,000		1,305,630
RSP Permian, Inc. (a)
10/01/22	6.625	%	185,000		164,650
Range Resources Corp.
06/01/21	5.750	%	275,000		226,875
Ras Laffan Liquefied Natural Gas Co., Ltd. II (a)
09/30/20	5.298	%	3,410,525		3,555,472
SM Energy Co.
11/15/22	6.125	%	223,000		128,225
06/01/25	5.625	%	98,000		52,430
Whiting Petroleum Corp.
03/15/21	5.750	%	939,000		589,222
04/01/23	6.250	%	809,000		505,625
Woodside Finance Ltd. (a)
03/05/25	3.650	%	4,886,000		4,271,727
Total					60,036,658
Integrated Energy 0.6%
BG Energy Capital PLC Subordinated (b)
11/30/72	6.500	%	1,230,000		1,285,906
BP Capital Markets PLC
03/17/22	3.062	%	7,980,000		7,832,625
Cenovus Energy, Inc.
11/15/39	6.750	%	6,735,000		5,177,983
Chevron Corp.
12/05/22	2.355	%	4,330,000		4,136,644
Total					18,433,158
Leisure —%
AMC Entertainment, Inc.
06/15/25	5.750	%	253,000		257,744
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp.
03/15/21	5.250	%	480,000		492,000
LTF Merger Sub, Inc. (a)
06/15/23	8.500	%	496,000		468,720
Total					1,218,464

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Life Insurance 1.7%
American International Group, Inc.
02/15/24	4.125	%	$	5,159,000	$	5,157,669
Five Corners Funding Trust (a)
11/15/23	4.419	%	3,290,000		3,430,549
Massachusetts Mutual Life Insurance Co. Subordinated (a)
04/15/65	4.500	%	1,800,000		1,677,422
MetLife Capital Trust X Junior Subordinated (a)(b)
04/08/38	9.250	%	12,783,000		17,129,220
MetLife, Inc.
11/13/25	3.600	%	1,957,000		1,965,206
05/13/46	4.600	%	7,495,000		7,328,199
Junior Subordinated
08/01/39	10.750	%	9,004,000		13,825,642
Peachtree Corners Funding Trust (a)
02/15/25	3.976	%	3,465,000		3,476,732
Prudential Financial, Inc.
12/01/17	6.000	%	431,000		464,525
Teachers Insurance & Annuity Association of America Subordinated (a)
09/15/44	4.900	%	1,695,000		1,749,221
Total					56,204,385
Lodging 0.1%
Choice Hotels International, Inc.
07/01/22	5.750	%	1,500,000		1,582,500
Hilton Worldwide Finance LLC/Corp.
10/15/21	5.625	%	1,692,000		1,742,760
Playa Resorts Holding BV (a)
08/15/20	8.000	%	966,000		985,320
RHP Hotel Properties LP/Finance Corp.
04/15/23	5.000	%	432,000		430,380
Total					4,740,960
Media and Entertainment 1.0%
AMC Networks, Inc.
12/15/22	4.750	%	1,278,000		1,271,610
Activision Blizzard, Inc. (a)
09/15/21	5.625	%	1,188,000		1,247,400
09/15/23	6.125	%	1,062,000		1,136,340
Lamar Media Corp. (a)
02/01/26	5.750	%	228,000		234,840
MDC Partners, Inc. (a)
04/01/20	6.750	%	1,571,000		1,557,254
Netflix, Inc. (a)
02/15/22	5.500	%	1,270,000		1,308,100
02/15/25	5.875	%	1,973,000		2,034,656
Nielsen Finance Co. SARL (The) (a)
10/01/21	5.500	%	416,000		427,440
Outfront Media Capital LLC/Corp.

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Media and Entertainment (continued)
02/15/22	5.250	%	$	210,000	$	214,725
02/15/24	5.625	%	43,000		43,968
03/15/25	5.875	%	1,789,000		1,811,362
Scripps Networks Interactive, Inc.
06/15/22	3.500	%	11,489,000		11,260,323
Univision Communications, Inc. (a)
09/15/22	6.750	%	176,000		181,280
05/15/23	5.125	%	489,000		474,330
02/15/25	5.125	%	2,581,000		2,445,497
Walt Disney Co. (The)
02/12/21	2.300	%	8,620,000		8,681,323
Total					34,330,448
Metals 0.5%
ArcelorMittal (b)
03/01/21	6.500	%	100,000		81,250
02/25/22	7.250	%	432,000		349,920
03/01/41	7.750	%	1,646,000		1,160,430
BHP Billiton Finance USA Ltd. Junior Subordinated (a)(b)
10/19/75	6.750	%	6,135,000		5,766,900
Glencore Finance Canada Ltd. (a)
11/15/16	5.800	%	5,830,000		5,793,562
Glencore Funding LLC (a)
05/27/16	1.700	%	2,490,000		2,440,200
Vale Overseas Ltd.
01/11/22	4.375	%	1,855,000		1,289,225
Total					16,881,487
Midstream 1.8%
Columbia Pipeline Group, Inc. (a)
06/01/25	4.500	%	6,319,000		5,699,820
06/01/45	5.800	%	1,290,000		1,061,362
Crestwood Midstream Partners LP/Finance Corp. (a)
04/01/23	6.250	%	247,000		150,053
Energy Transfer Equity LP
06/01/27	5.500	%	3,270,000		2,321,700
Kinder Morgan Energy Partners LP
02/01/19	2.650	%	4,375,000		4,047,518
03/01/21	3.500	%	5,432,000		4,804,305
09/01/23	3.500	%	5,730,000		4,723,067
Kinder Morgan, Inc.
12/01/17	2.000	%	6,365,000		6,139,291
MPLX LP (a)
07/15/23	4.500	%	543,000		425,207
12/01/24	4.875	%	2,803,000		2,187,683
06/01/25	4.875	%	42,000		32,804
Plains All American Pipeline LP/Finance Corp.
10/15/25	4.650	%	11,127,000		9,521,341
06/01/42	5.150	%	1,428,000		1,011,614
02/15/45	4.900	%	2,998,000		2,089,519
Sabine Pass Liquefaction LLC
03/01/25	5.625	%	2,012,000		1,730,320

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Midstream (continued)
Southern Natural Gas Co. LLC
03/01/32	8.000	%	$	2,700,000	$	2,497,994
Targa Resources Partners LP/Finance Corp.
01/15/18	5.000	%	559,000		521,966
11/15/19	4.125	%	186,000		156,240
05/01/23	5.250	%	19,000		14,725
11/15/23	4.250	%	945,000		689,850
Targa Resources Partners LP/Finance Corp. (a)
03/15/24	6.750	%	1,664,000		1,372,800
Tesoro Logistics LP/Finance Corp. (a)
10/15/19	5.500	%	73,000		67,799
10/15/22	6.250	%	1,297,000		1,180,270
Transcontinental Gas Pipe Line Co. LLC (a)
02/01/26	7.850	%	3,110,000		3,207,187
Williams Companies, Inc. (The)
01/15/23	3.700	%	4,674,000		3,052,332
06/24/24	4.550	%	1,177,000		771,443
Total					59,478,210
Natural Gas 1.1%
NiSource Finance Corp.
02/15/23	3.850	%	3,305,000		3,426,611
12/15/40	6.250	%	2,571,000		3,129,298
Sempra Energy
03/15/20	2.400	%	3,191,000		3,115,297
11/15/20	2.850	%	8,445,000		8,417,942
10/01/22	2.875	%	11,185,000		10,753,415
11/15/25	3.750	%	8,395,000		8,415,249
Total					37,257,812
Office REIT 0.1%
Boston Properties LP
02/01/26	3.650	%	1,924,000		1,943,927
Oil Field Services 0.6%
Halliburton Co.
11/15/22	3.375	%	891,000		875,116
11/15/25	3.800	%	897,000		840,856
Noble Holding International Ltd.
03/15/17	2.500	%	10,525,000		9,262,379
03/16/18	4.000	%	9,971,000		7,953,428
Total					18,931,779
Other Financial Institutions —%
Icahn Enterprises LP/Finance Corp.
02/01/22	5.875	%	769,000		687,294
Other Industry 1.0%
Board of Trustees of the Leland Stanford Junior University (The)
05/01/47	3.460	%	2,715,000		2,637,259
CB Richard Ellis Services, Inc.
03/15/25	5.250	%	252,000		260,329

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Other Industry (continued)
Massachusetts Institute of Technology
07/01/14	4.678	%	$	8,809,000	$	9,304,859
President and Fellows of Harvard College (a)
01/15/39	6.500	%	6,545,000		9,275,855
University of Notre Dame du Lac
02/15/45	3.438	%	10,380,000		9,982,560
Total					31,460,862
Other REIT 0.2%
CyrusOne LP/Finance Corp.
11/15/22	6.375	%	346,000		351,190
Duke Realty LP
06/15/22	4.375	%	6,725,000		7,044,458
Total					7,395,648
Packaging 0.3%
Ardagh Packaging Finance PLC/Holdings USA, Inc. (a)
01/31/21	6.750	%	184,000		174,340
Ball Corp.
12/15/20	4.375	%	632,000		654,120
Berry Plastics Corp.
07/15/23	5.125	%	1,023,000		997,425
Berry Plastics Corp. (a)
10/15/22	6.000	%	1,161,000		1,187,123
Beverage Packaging Holdings (Luxembourg) II SA (a)
12/15/16	5.625	%	116,000		114,550
06/15/17	6.000	%	35,000		33,775
Plastipak Holdings, Inc. (a)
10/01/21	6.500	%	1,222,000		1,170,065
Reynolds Group Issuer, Inc./LLC
10/15/20	5.750	%	3,109,000		3,112,886
Reynolds Group Issuer, Inc./LLC (b)
02/15/21	8.250	%	1,537,000		1,433,252
Signode Industrial Group Luxembourg SA/US, Inc. (a)
05/01/22	6.375	%	148,000		122,840
Total					9,000,376
Pharmaceuticals 2.9%
Actavis Funding SCS
03/12/20	3.000	%	16,706,000		16,910,281
03/15/22	3.450	%	12,156,000		12,335,313
06/15/24	3.850	%	2,332,000		2,375,035
03/15/35	4.550	%	4,380,000		4,315,084
Actavis Funding SCS (b)
09/01/16	1.289	%	1,690,000		1,691,242
Concordia Healthcare Corp. (a)
04/15/23	7.000	%	176,000		153,120
Endo Finance LLC/Finco, Inc. (a)
02/01/25	6.000	%	895,000		883,920
Endo Finance LLC/Ltd./Finco, Inc. (a)
07/15/23	6.000	%	1,042,000		1,047,210

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Pharmaceuticals (continued)
Forest Laboratories LLC (a)
02/01/19	4.375	%	$	6,293,000	$	6,637,108
Gilead Sciences, Inc.
03/01/46	4.750	%	4,877,000		4,975,174
Grifols Worldwide Operations Ltd.
04/01/22	5.250	%	1,720,000		1,745,972
Jaguar Holding Co. II/Pharmaceutical Product Development LLC (a)
08/01/23	6.375	%	1,637,000		1,612,445
Johnson & Johnson
12/05/33	4.375	%	3,853,000		4,247,632
Mallinckrodt International Finance SA/CB LLC (a)
10/15/23	5.625	%	253,000		237,187
04/15/25	5.500	%	1,193,000		1,061,770
Novartis Capital Corp.
11/20/25	3.000	%	13,155,000		13,298,021
11/20/45	4.000	%	10,160,000		10,261,671
Quintiles Transnational Corp. (a)
05/15/23	4.875	%	267,000		270,337
Roche Holdings, Inc. (a)
09/30/19	2.250	%	4,545,000		4,625,415
Valeant Pharmaceuticals International, Inc. (a)
10/15/20	6.375	%	485,000		468,025
12/01/21	5.625	%	312,000		288,600
03/01/23	5.500	%	209,000		184,443
05/15/23	5.875	%	877,000		784,915
04/15/25	6.125	%	4,789,000		4,304,114
Total					94,714,034
Property & Casualty 1.1%
ACE INA Holdings, Inc.
11/03/22	2.875	%	4,250,000		4,305,624
05/03/26	3.350	%	8,734,000		8,914,462
Alliant Holdings I LP (a)
08/01/23	8.250	%	48,000		42,000
Chubb Corp. (The) Junior Subordinated (b)
04/15/37	6.375	%	5,426,000		5,081,449
HUB International Ltd. (a)
10/01/21	7.875	%	2,630,000		2,307,825
HUB International Ltd. (a)(f)
02/15/21	9.250	%	222,000		226,995
Hub Holdings LLC/Finance, Inc. PIK (a)
07/15/19	8.125	%	88,000		74,800
Liberty Mutual Group, Inc. (a)
06/01/21	5.000	%	4,049,000		4,374,985
05/01/22	4.950	%	4,055,000		4,385,251
05/01/42	6.500	%	2,465,000		2,821,974
Transatlantic Holdings, Inc.
11/30/39	8.000	%	2,955,000		3,917,417
Total					36,452,782

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Railroads 1.2%
BNSF Funding Trust I Junior Subordinated (b)
12/15/55	6.613	%	$	7,126,000	$	7,945,490
CSX Corp.
03/15/18	6.250	%	3,965,000		4,331,763
10/01/36	6.000	%	3,235,000		3,744,357
Canadian Pacific Railway Co.
09/15/35	4.800	%	2,959,000		2,919,923
09/15/15	6.125	%	7,676,000		7,842,800
Florida East Coast Holdings Corp. (a)
05/01/19	6.750	%	190,000		173,850
Union Pacific Corp.
02/01/21	4.000	%	1,280,000		1,381,526
03/15/24	3.750	%	6,770,000		7,181,873
02/01/55	3.875	%	2,935,000		2,697,356
Total					38,218,938
Restaurants 0.3%
BC ULC/New Red Finance, Inc. (a)
01/15/22	4.625	%	1,887,000		1,896,435
04/01/22	6.000	%	269,000		280,769
Yum! Brands, Inc.
11/01/20	3.875	%	5,330,000		5,201,152
11/01/43	5.350	%	3,790,000		2,804,600
Total					10,182,956
Retail REIT 0.4%
Kimco Realty Corp.
11/01/22	3.400	%	3,402,000		3,440,987
06/01/23	3.125	%	4,693,000		4,600,585
Simon Property Group LP
01/15/26	3.300	%	4,098,000		4,097,320
Total					12,138,892
Retailers 1.4%
Asbury Automotive Group, Inc.
12/15/24	6.000	%	954,000		932,535
Asbury Automotive Group, Inc. (a)
12/15/24	6.000	%	222,000		217,005
CVS Health Corp. (a)
12/01/22	4.750	%	10,965,000		11,972,980
CVS Pass-Through Trust (a)
08/11/36	4.163	%	5,139,700		5,034,131
Dollar Tree, Inc. (a)
03/01/23	5.750	%	1,542,000		1,624,882
Group 1 Automotive, Inc.
06/01/22	5.000	%	381,000		362,426
Group 1 Automotive, Inc. (a)
12/15/23	5.250	%	372,000		349,680
L Brands, Inc.
04/01/21	6.625	%	378,000		420,525
Macy’s Retail Holdings, Inc.
07/15/27	6.790	%	13,240,000		15,245,066

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Retailers (continued)
Penske Automotive Group, Inc.
12/01/24	5.375	%	$	1,583,000	$	1,535,510
Rite Aid Corp.
06/15/21	6.750	%	80,000		84,600
Junior Subordinated
02/15/27	7.700	%	234,000		274,950
Rite Aid Corp. (a)
04/01/23	6.125	%	863,000		910,465
Sally Holdings LLC/Capital, Inc.
06/01/22	5.750	%	396,000		413,325
12/01/25	5.625	%	235,000		242,637
Wal-Mart Stores, Inc.
08/15/37	6.500	%	4,120,000		5,393,373
Total					45,014,090
Supermarkets 0.1%
Whole Foods Market, Inc. (a)
12/03/25	5.200	%	4,630,000		4,637,408
Technology 0.9%
Alliance Data Systems Corp. (a)
12/01/17	5.250	%	546,000		547,365
04/01/20	6.375	%	140,000		141,750
08/01/22	5.375	%	870,000		824,325
Ancestry.com, Inc. Junior Subordinated
12/15/20	11.000	%	224,000		237,440
Audatex North America, Inc. (a)
06/15/21	6.000	%	426,000		429,195
11/01/23	6.125	%	300,000		302,250
Equinix, Inc.
01/01/22	5.375	%	1,628,000		1,693,120
01/15/26	5.875	%	692,000		716,220
First Data Corp. (a)
08/15/23	5.375	%	1,692,000		1,725,840
12/01/23	7.000	%	3,197,000		3,220,977
01/15/24	5.750	%	2,255,000		2,238,087
Hewlett Packard Enterprise Co. (a)
10/15/35	6.200	%	2,905,000		2,619,854
10/15/45	6.350	%	3,572,000		3,231,067
Infor US, Inc. (a)
08/15/20	5.750	%	69,000		69,518
Iron Mountain, Inc. (a)
10/01/20	6.000	%	1,532,000		1,631,580
MSCI, Inc. (a)
11/15/24	5.250	%	701,000		722,906
08/15/25	5.750	%	506,000		535,095
Microsemi Corp. (a)
04/15/23	9.125	%	666,000		700,965
NCR Corp.
12/15/23	6.375	%	218,000		215,683

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Technology (continued)
NXP BV/Funding LLC (a)
06/15/22	4.625	%	$	1,244,000	$	1,209,790
Plantronics, Inc. (a)
05/31/23	5.500	%	184,000		185,380
Qualitytech LP/Finance Corp.
08/01/22	5.875	%	595,000		603,925
Riverbed Technology, Inc. (a)
03/01/23	8.875	%	386,000		352,708
Sensata Technologies UK Financing Co. PLC (a)
02/15/26	6.250	%	524,000		534,480
VeriSign, Inc.
05/01/23	4.625	%	1,445,000		1,416,100
04/01/25	5.250	%	277,000		273,986
Zebra Technologies Corp.
10/15/22	7.250	%	1,510,000		1,570,400
Total					27,950,006
Tobacco 0.1%
Imperial Tobacco Finance PLC (a)
07/20/18	2.050	%	1,752,000		1,754,125
Transportation Services 0.4%
ERAC U.S.A. Finance LLC (a)
11/01/25	3.800	%	4,845,000		4,835,383
FedEx Corp.
11/15/45	4.750	%	7,721,000		7,610,404
Total					12,445,787
Wireless 0.6%
Crown Castle International Corp.
04/15/22	4.875	%	458,000		480,758
01/15/23	5.250	%	1,481,000		1,577,265
Numericable-SFR (a)
05/15/19	4.875	%	12,000		11,910
05/15/22	6.000	%	2,109,000		2,077,365
SBA Telecommunications, Inc.
07/15/20	5.750	%	1,528,000		1,585,300
Sprint Communications, Inc.
08/15/20	7.000	%	343,000		252,105
11/15/22	6.000	%	321,000		215,873
Sprint Communications, Inc. (a)
11/15/18	9.000	%	1,098,000		1,114,470
03/01/20	7.000	%	2,461,000		2,362,560
Sprint Corp.
06/15/24	7.125	%	2,372,000		1,601,100
02/15/25	7.625	%	298,000		203,571
T-Mobile USA, Inc.
04/28/20	6.542	%	83,000		85,490
04/28/21	6.633	%	1,010,000		1,044,087
04/28/22	6.731	%	330,000		338,663
04/01/23	6.625	%	2,669,000		2,729,052
01/15/24	6.500	%	229,000		231,290

Issuer	Coupon Rate		Principal Amount		Value
Corporate Bonds & Notes (continued)
Wireless (continued)
03/01/25	6.375	%	$	73,000	$	73,183
01/15/26	6.500	%	1,119,000		1,119,000
Wind Acquisition Finance SA (a)
04/30/20	6.500	%	226,000		232,780
07/15/20	4.750	%	532,000		522,690
04/23/21	7.375	%	819,000		778,558
Total					18,637,070
Wirelines 1.5%
AT&T, Inc.
12/15/42	4.300	%	2,115,000		1,745,141
05/15/46	4.750	%	3,275,000		2,903,890
AT&T, Inc. (f)
02/17/26	4.125	%	5,990,000		5,986,046
CenturyLink, Inc.
12/01/23	6.750	%	1,243,000		1,176,189
04/01/25	5.625	%	390,000		331,500
DIRECTV Holdings LLC/Financing Co., Inc.
03/15/22	3.800	%	4,478,000		4,524,244
04/01/24	4.450	%	3,795,000		3,881,644
Frontier Communications Corp.
04/15/22	8.750	%	851,000		765,900
01/15/25	6.875	%	191,000		151,845
Frontier Communications Corp. (a)
09/15/20	8.875	%	101,000		101,379
09/15/22	10.500	%	178,000		173,105
09/15/25	11.000	%	3,525,000		3,397,219
Level 3 Communications, Inc.
12/01/22	5.750	%	299,000		307,970
Level 3 Financing, Inc.
01/15/21	6.125	%	198,000		207,405
08/15/22	5.375	%	386,000		391,790
02/01/23	5.625	%	1,326,000		1,355,835
05/01/25	5.375	%	575,000		578,594
Level 3 Financing, Inc. (a)
01/15/24	5.375	%	53,000		53,530
Telecom Italia SpA (a)
05/30/24	5.303	%	442,000		432,055
Verizon Communications, Inc.
11/01/21	3.000	%	2,454,000		2,469,394
09/15/23	5.150	%	6,924,000		7,660,021
03/15/34	5.050	%	4,215,000		4,110,114
09/15/43	6.550	%	2,500,000		2,918,640
Windstream Services, LLC
10/15/20	7.750	%	96,000		79,440
Zayo Group LLC/Capital, Inc.
04/01/23	6.000	%	2,116,000		2,068,390
05/15/25	6.375	%	59,000		57,230
Total					47,828,510
Total Corporate Bonds & Notes (Cost: $1,646,927,480)					$	1,609,861,498

Issuer	Coupon Rate		Principal Amount		Value
Residential Mortgage-Backed Securities - Agency 21.9%
Federal Home Loan Mortgage Corp.
06/01/17-11/01/26	8.500	%	$	84,287	$	96,210
04/01/21	9.000	%	1,493		1,511
08/01/24- 02/01/25	8.000	%	80,775		92,760
10/01/28- 07/01/32	7.000	%	952,926		1,148,000
10/01/31- 07/01/37	6.000	%	2,715,662		3,139,309
04/01/33- 06/01/33	5.500	%	1,937,971		2,204,360
Federal Home Loan Mortgage Corp. (b)(g)
CMO IO STRIPS Series 309 Class S4
08/15/43	5.545	%	1,732,443		421,982
CMO IO STRIPS Series 337 Class S1
09/15/44	5.625	%	4,663,936		1,174,795
CMO IO Series 311 Class S1
08/15/43	5.525	%	11,036,772		2,358,920
CMO IO Series 326 Class S2
03/15/44	5.525	%	12,975,244		2,902,399
Federal Home Loan Mortgage Corp. (g)
CMO IO Series 329 Class C5
06/15/43	3.500	%	24,716,768		4,495,047
CMO IO Series 4120 Class IA
10/15/42	3.500	%	12,558,295		2,255,449
CMO IO Series 4176 Class BI
03/15/43	3.500	%	4,268,957		778,928
CMO IO Series 4182 Class DI
05/15/39	3.500	%	14,878,134		1,714,659
Federal National Mortgage Association
09/01/18	10.000	%	9,577		10,266
04/01/23	8.500	%	12,907		13,613
06/01/24	9.000	%	19,475		21,260
02/01/25-08/01/27	8.000	%	124,573		144,924
03/01/26-07/01/38	7.000	%	2,716,622		3,263,263
04/01/27-06/01/32	7.500	%	249,437		285,535
05/01/29-08/01/38	6.000	%	16,971,666		19,366,168
08/01/29-12/01/43	3.000	%	50,128,311		51,668,338
01/01/31	2.500	%	10,624,981		10,880,946
03/01/33-01/01/40	5.500	%	11,663,113		13,139,238
08/01/40-05/01/41	5.000	%	17,520,972		19,396,004
10/01/40-07/01/41	4.500	%	11,558,839		12,598,768
05/01/43-08/01/45	3.500	%	81,784,844		85,856,727
06/01/45-09/01/45	4.000	%	42,056,722		44,982,259
CMO Series 1988-4 Class Z
03/25/18	9.250	%	6,735		7,026
CMO Series 2013-121 Class KD

Issuer	Coupon Rate		Principal Amount		Value
Residential Mortgage-Backed Securities - Agency (continued)
08/25/41	3.500	%	$	6,385,795	$	6,693,545
Federal National Mortgage Association (b)
06/01/32	1.915	%	3,846		3,856
07/01/37	5.964	%	119,133		119,763
Federal National Mortgage Association (b)(g)
CMO IO Series 2013-101 Class CS
10/25/43	5.474	%	7,179,389		1,937,402
Series 416 Class S1
11/25/42	5.674	%	4,730,580		1,119,274
Federal National Mortgage Association (f)
02/17/31	2.500	%	27,000,000		27,605,912
02/17/31	3.000	%	59,700,000		62,213,692
02/11/46	3.500	%	95,675,000		100,199,011
02/11/46	4.000	%	61,650,000		65,863,667
02/11/46	4.500	%	33,375,000		36,279,666
Federal National Mortgage Association (g)
CMO IO Series 2012-118 Class BI
12/25/39	3.500	%	7,559,161		934,554
CMO IO Series 2012-148 Class BI
01/25/43	3.500	%	17,675,294		3,293,687
Federal National Mortgage Association (h)
CMO PO STRIPS Series 43 Class 1
09/25/18	0.000	%	1,081		1,066
Government National Mortgage Association
06/15/16- 10/15/16	9.000	%	295		297
05/15/17	8.000	%	501		505
12/15/23- 07/20/28	7.500	%	240,860		278,053
02/15/25	8.500	%	24,782		29,323
01/15/30	7.000	%	256,260		310,793
09/20/42	3.500	%	6,239,349		6,600,201
Government National Mortgage Association (b)
07/20/25	1.875	%	24,215		24,941
Government National Mortgage Association (f)
02/22/46	3.000	%	14,500,000		14,955,387
02/22/46	3.500	%	76,250,000		80,419,922
02/22/46	4.000	%	10,250,000		10,948,481
Government National Mortgage Association (g)
CMO IO Series 2014-184 Class CI
11/16/41	3.500	%	9,120,377		1,477,829
CMO IO Series 2015-53 Class EI
04/16/45	3.500	%	2,351,809		389,896
Government National Mortgage Association (i)
05/15/42	3.000	%	8,234,594		8,525,012
Total Residential Mortgage-Backed Securities - Agency (Cost: $704,164,827)					$	714,644,399
Residential Mortgage-Backed Securities - Non-Agency 4.4%
ASG Resecuritization Trust (a)(b)
CMO Series 2009-2 Class G70
05/24/36	4.447	%	4,335,000		4,347,278
CMO Series 2009-2 Class G75
05/24/36	4.447	%	4,335,000		4,373,053

Issuer	Coupon Rate		Principal Amount		Value
Residential Mortgage-Backed Securities - Non-Agency (continued)
American Mortgage Trust Series 2093-3 Class 3A (b)(c)(e)
07/27/23	8.188	%	$	2,887	$	1,751
Angel Oak Mortgage Trust LLC Series 2015-1 (a)
11/25/45	5.500	%	1,500,000		1,493,597
BCAP LLC Trust (a)
09/26/36	3.500	%	5,732,314		5,759,336
CMO Series 2013-RR5 Class 1A1
10/26/36	3.500	%	4,343,124		4,367,340
BCAP LLC Trust (a)(b)
08/26/36	0.542	%	2,842,233		2,795,783
CMO Series 2012-RR10 Class 9A1
10/26/35	2.788	%	1,171,016		1,177,200
CMO Series 2014-RR3 Class 3A1
07/26/36	0.471	%	690,732		660,561
Series 2010-RR11 Class 8A1
05/27/37	6.411	%	3,253,302		3,292,296
BCAP LLC Series 2013-RR2 Class 7A1 (a)
07/26/36	3.000	%	3,107,915		3,098,591
Banc of America Funding Trust CMO Series 2012-R5 Class A (a)(b)
10/03/39	0.685	%	1,955,648		1,945,776
Bayview Opportunity Master Fund Trust Series 2014-16RP Class A (a)(b)
11/28/29	3.844	%	462,087		460,679
COLT LLC (a)(b)
CMO Series 15-1 Class A2
12/26/45	4.177	%	1,466,186		1,453,019
Series 2015-A Class A2
07/27/20	4.177	%	1,500,000		1,469,855
CSMC Trust CMO Series 2015-RPL1 Class A2 (a)(b)
02/25/57	4.417	%	1,600,000		1,571,882
Citigroup Mortgage Loan Trust, Inc. (a)
CMO Series 15-PS1 Class A1
09/25/42	3.750	%	2,487,328		2,537,307
CMO Series 2012-A Class A
06/25/51	2.500	%	3,972,315		3,909,704
Citigroup Mortgage Loan Trust, Inc. (a)(b)
CMO Series 2012-7 Class 12A1
03/25/36	2.781	%	1,809,021		1,800,439
CMO Series 2012-9 Class 1A1
02/20/36	2.705	%	3,834,956		3,775,379
CMO Series 2013-2 Class 1A1
11/25/37	2.811	%	3,689,393		3,686,174
CMO Series 2014-11 Class 3A3
09/25/36	0.582	%	601,000		546,376
CMO Series 2014-12 Class 3A1
10/25/35	2.622	%	7,963,566		8,070,514
CMO Series 2014-2 Class 3A3
08/25/37	0.562	%	1,000,000		932,667
CMO Series 2014-C Class A
02/25/54	3.250	%	1,294,741		1,241,687

Issuer	Coupon Rate		Principal Amount		Value
Residential Mortgage-Backed Securities - Non-Agency (continued)
Series 2013-11 Class 3A3
09/25/34	2.619	%	$	877,826	$	836,850
Citigroup Mortgage Loan Trust, Inc. (b)
CMO Series 2015-A Class A4
06/25/58	4.250	%	4,369,980		4,536,633
CMO Series 2015-A Class B3
06/25/58	4.500	%	985,094		940,650
Citigroup Mortgage Loan Trust, Inc. (g)
CMO IO Series 2015-A Class A1IO
06/25/58	1.000	%	21,013,558		785,052
Credit Suisse Mortgage Capital Certificates (a)
CMO Series 2010-9R Class 1A5
08/27/37	4.000	%	1,000,000		980,089
Credit Suisse Mortgage Capital Certificates (a)(b)
CMO Series 2009-14R Class 4A9
10/26/35	2.788	%	7,740,000		7,836,689
CMO Series 2011-12R Class 3A1
07/27/36	2.468	%	3,393,412		3,349,535
CMO Series 2011-16R Class 7A3
12/27/36	3.500	%	934,871		936,152
CMO Series 2011-17R Class 3A1
10/27/35	2.427	%	1,096,014		1,091,255
CMO Series 2014-RPL4 Class A1
08/25/62	3.625	%	9,103,636		8,931,953
CMO Series 2014-RPL4 Class A2
08/25/62	4.522	%	3,500,000		3,393,139
Series 2012-11 Class 3A2
06/29/47	1.424	%	1,058,140		943,067
Credit Suisse Securities (USA) LLC CMO Series 2014-RPL1 Class A1 (a)(b)
02/25/54	3.250	%	7,985,346		7,826,684
Freddie Mac Structured Agency Credit Risk Debt Notes (b)
05/25/28	5.227	%	1,500,000		1,401,855
CMO Series 2015-DNA2 Class M3
12/25/27	4.322	%	1,000,000		931,957
JPMorgan Resecuritization Trust (a)
CMO Series 2014-5 Class 6A
09/27/36	4.000	%	2,761,014		2,768,359
JPMorgan Resecuritization Trust (a)(b)
CMO Series 2014-1 Class 1016
03/26/36	2.818	%	4,210,000		4,185,304
NRPL Trust Series 2014-1A Class A1 (a)(b)
04/25/54	3.250	%	1,746,394		1,745,521
NZES Series 2015-PLS1 Class A (a)(b)
04/25/17	5.250	%	1,681,249		1,669,073
Nomura Asset Acceptance Corp. Alternative Loan Trust (b)
CMO Series 2007-1 Class 1A3 (AGM)
03/25/47	5.957	%	372,700		379,199
CMO Series 2007-1 Class 1A4 (AGM)
03/25/47	6.138	%	2,361,369		2,402,404
Nomura Resecuritization Trust (a)(b)
CMO Series 2012-3R Class 1A1
01/26/37	0.594	%	3,491,774		3,360,580
CMO Series 2014-6R Class 3A1
01/26/36	0.682	%	5,765,300		5,396,800

Issuer	Coupon Rate		Principal Amount		Value
Residential Mortgage-Backed Securities - Non-Agency (continued)
Pretium Mortgage Credit Partners I (a)(b)
Series 2015-NPL1 Class A1
05/28/30	3.625	%	$	2,899,828	$	2,866,293
Series 2015-NPL1 Class A2
05/28/30	4.250	%	1,000,000		948,690
Pretium Mortgage Credit Partners Series 2015-NPL2 Class A1 (a)(b)
07/27/30	3.750	%	924,147		916,980
Sequoia Mortgage Trust CMO Series 2004-6 Class B2 (b)
07/20/34	1.746	%	932,187		320,763
Structured Asset Securities Corp. Mortgage Pass-Through Certificates CMO Series 2004-21XS Class 2A6A (b)
12/25/34	5.240	%	41,069		41,892
Towd Point Mortgage Trust CMO Series 2015-4 Class A1 (a)
04/25/55	3.500	%	4,413,085		4,457,215
VML LLC CMO Series 2014-NPL1 Class A1 (a)
04/27/54	3.875	%	2,211,610		2,201,297
Total Residential Mortgage-Backed Securities - Non-Agency (Cost: $144,478,177)					$	143,150,174
Commercial Mortgage-Backed Securities - Non-Agency 4.3%
1211 Avenue of the Americas Trust Series 2015-1211 Class E (a)(b)
08/10/35	4.280	%	1,000,000		869,794
American Homes 4 Rent Trust (a)
Series 2014-SFR3 Class A
12/17/36	3.678	%	1,569,758		1,599,831
Series 2015-SFR2 Class A
10/17/45	3.732	%	4,555,837		4,646,985
American Homes 4 Rent (a)
Series 2015-SFR1 Class F
04/17/52	5.885	%	1,000,000		913,704
American Homes 4 Rent (a)(b)
Series 2014-SFR1 Class E
06/17/31	2.926	%	3,100,000		2,915,383
Series 2014-SFR1 Class F
06/17/31	3.676	%	1,300,000		1,212,867
B2R Mortgage Trust Series 2015-2 Class E (a)(b)
11/15/48	5.492	%	500,000		450,905
BHMS Mortgage Trust Series 2014-ATLS Class DFX (a)(b)
07/05/33	4.847	%	1,000,000		971,159

Issuer	Coupon Rate		Principal Amount		Value
Commercial Mortgage-Backed Securities - Non-Agency (continued)
Banc of America Merrill Lynch Commercial Mortgage Securities Trust Series 2015-200P Class A (a)
04/14/33	3.218	%	$	6,600,000	$	6,590,418
Banc of America Merrill Lynch Re-Remic Trust Series 2015-FR11 Class A705 (a)(b)
09/27/44	1.887	%	1,000,000		935,824
CSAIL Commercial Mortgage Trust Series 2015-C2 Class A3
06/15/57	3.231	%	1,695,000		1,699,874
Capmark Mortgage Securities, Inc. CMO IO Series 1997-C1 Class X (b)(g)
07/15/29	1.715	%	2,191,755		78,269
Citigroup Commercial Mortgage Trust Series 2015-GC29 Class A3
04/10/48	2.935	%	2,215,000		2,167,821
Commercial Mortgage Trust Series 2015-LC19 Class A4
02/10/48	3.183	%	2,455,000		2,463,523
Credit Suisse Commercial Mortgage Trust Series 2007-C3 Class A4 (b)
06/15/39	5.889	%	2,127,610		2,168,105
Credit Suisse Mortgage Capital Certificates Series 2010-RR4 Class 2A (a)
09/18/39	5.467	%	4,025,562		4,041,150
DBUBS Mortgage Trust Series 2011-LC2A Class A4 (a)
07/10/44	4.537	%	10,865,000		11,875,222
General Electric Capital Assurance Co. Series 2003-1 Class A5 (a)
05/12/35	5.743	%	2,733,795		2,976,001
Invitation Homes Trust (a)(b)
Series 2015-SFR3 Class A
08/17/32	1.726	%	10,346,886		10,114,055
Series 2015-SFR3 Class F
08/17/32	5.176	%	2,000,000		1,924,643
JPMBB Commercial Mortgage Securities Trust
Series 2014-C26 Class A3
01/15/48	3.231	%	765,000		774,995
Series 2015-C27 Class A4
02/15/48	3.179	%	3,593,000		3,582,317
Series 2015-C28 Class A3
10/15/48	2.912	%	9,955,000		9,764,770
Series 2015-C28 Class A4
10/15/48	3.227	%	6,510,000		6,500,258
JPMorgan Commercial Mortgage-Backed Securities Trust Series 2009-RR1 Class A4B1 (a)
03/18/51	1.000	%	2,500,000		2,361,675
LB Commercial Mortgage Trust Series 2007-C3 Class AM (b)
07/15/44	6.096	%	4,640,000		4,862,001
LB-UBS Commercial Mortgage Trust
Series 2007-C2 Class A3

Issuer	Coupon Rate		Principal Amount		Value
Commercial Mortgage-Backed Securities - Non-Agency (continued)
02/15/40	5.430	%	$	4,543,549	$	4,644,060
LB-UBS Commercial Mortgage Trust (b)
Series 2006-C4 Class AM
06/15/38	6.047	%	2,585,000		2,620,728
Merrill Lynch Mortgage Investors Trust CMO IO Series 1998-C3 Class IO (b)(g)
12/15/30	1.076	%	2,136,937		26,777
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2015-C20 Class A3
02/15/48	2.988	%	2,560,000		2,524,757
Series 2015-C21 Class A3
03/15/48	3.077	%	2,745,000		2,749,337
Morgan Stanley Re-Remic Trust (a)(b)
Series 2009-GG10 Class A4B
08/12/45	5.988	%	4,285,000		4,432,511
Series 2010-GG10 Class A4B
08/15/45	5.988	%	2,665,000		2,767,234
ORES NPL LLC (a)
Series 2013-LV2 Class A
09/25/25	3.081	%	371,549		369,691
Series 2014-LV3 Class A
03/27/24	3.000	%	2,412,095		2,412,095
Rialto Real Estate Fund LLC (a)
Series 2014-LT6 Class A
09/15/24	2.750	%	711,462		709,595
Subordinated, Series 2015-LT7 Class B
12/25/32	5.071	%	2,000,000		1,997,123
Rialto Real Estate Fund LP (a)
Series 2014-LT5 Class A
05/15/24	2.850	%	712,244		710,647
Series 2014-LT6 Class B
09/15/24	5.486	%	1,000,000		999,834
VFC LLC (a)
Series 2014-2 Class A
07/20/30	2.750	%	125,162		125,153
Subordinated, Series 2015-3 Class B
12/20/31	4.750	%	500,000		499,496
WF-RBS Commercial Mortgage Trust Series 2014-C24 Class A5
11/15/47	3.607	%	3,180,000		3,297,568
Wells Fargo Commercial Mortgage Trust
Series 2015-C26 Class A4
02/15/48	3.166	%	5,425,000		5,410,322
Series 2015-C27 Class A4
02/15/48	3.190	%	4,975,000		4,985,099
Series 2015-LC20 Class A4
04/15/50	2.925	%	4,460,000		4,376,003
Series 2015-LC20 Class A5
04/15/50	3.184	%	5,170,000		5,158,437
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost: $143,654,873)					$	139,278,016
Asset-Backed Securities - Agency 1.1%
United States Small Business Administration

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Agency (continued)
Series 2012-20C Class 1
03/01/32	2.510	%	$	1,017,026	$	1,036,737
Series 2012-20G Class 1
07/01/32	2.380	%	1,536,771		1,552,468
Series 2012-20L Class 1
12/01/32	1.930	%	1,650,445		1,629,740
Series 2013-20A Class 1
01/01/33	2.130	%	3,945,685		3,914,765
Series 2013-20C Class 1
03/01/33	2.220	%	8,899,272		8,910,521
Series 2013-20G Class 1
07/01/33	3.150	%	2,493,639		2,599,991
Series 2013-20L Class 1
12/01/33	3.380	%	1,535,417		1,621,143
Series 2014-20C Class 1
03/01/34	3.210	%	2,046,839		2,149,615
Series 2014-20D Class 1
04/01/34	3.110	%	6,617,709		6,930,082
Series 2014-20F Class 1
06/01/34	2.990	%	4,017,861		4,166,229
Series 2015-20C Class 1
03/01/35	2.720	%	1,550,334		1,579,154
Total Asset-Backed Securities - Agency (Cost: $35,158,483)					$	36,090,445
Asset-Backed Securities - Non-Agency 15.5%
A Voce CLO Ltd. (a)(b)
Series 2014-1A Class A1B
07/15/26	2.082	%	4,690,000		4,575,522
Series 2014-1A Class A2A
07/15/26	2.622	%	3,375,000		3,170,671
ARI Fleet Lease Trust Series 2014-A Class A2 (a)
11/15/22	0.810	%	925,045		923,774
Ally Auto Receivables Trust Series 2015-SN1 Class A2B (b)
06/20/17	0.806	%	4,901,472		4,898,986
Apidos CDO V (a)(b)
Series 2007-5A Class A1
04/15/21	0.862	%	2,574,164		2,534,869
Series 2007-5A Class A1S
04/15/21	0.852	%	1,628,943		1,610,619
Apidos CLO XXII Series 2015-22A Class D (a)(b)
10/20/27	6.336	%	1,000,000		761,333
Ares CLO Ltd. Series 2014-32A Class C (a)(b)
11/15/25	4.562	%	1,500,000		1,336,924
Ares XXX CLO Ltd. Series 2014-30A Class A2 (a)(b)
04/20/23	1.474	%	3,482,110		3,439,102
Ares XXXVII CLO Ltd. Series 2015-4A Class D1 (a)(b)
10/15/26	7.126	%	1,000,000		832,122

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
Ares XXXVIII CLO Ltd. (a)(b)
01/20/27	6.714	%	$	1,500,000	$	1,209,549
Ascentium Equipment Receivables LLC Series 2015-2A Class A2 (a)
12/11/17	1.570	%	2,895,000		2,881,877
Ascentium Equipment Receivables Series 2015-1A Class A2 (a)
07/10/17	1.150	%	1,734,234		1,731,123
Avery Point VII CLO Ltd. (a)(b)
01/15/28	7.186	%	1,400,000		1,166,406
Avis Budget Rental Car Funding AESOP LLC Series 2015-2A Class A (a)
12/20/21	2.630	%	6,385,000		6,455,557
BMW Vehicle Owner Trust Series 2013-A Class A3
11/27/17	0.670	%	1,556,479		1,555,983
Barclays Dryrock Issuance Trust Series 2014-1 Class A (b)
12/16/19	0.786	%	5,140,000		5,132,161
Betony CLO Ltd. Series 2015-1A Class E (a)(b)
04/15/27	5.972	%	2,000,000		1,358,382
CNH Wholesale Master Note Trust Series 2013-2A Class A (a)(b)
08/15/19	1.026	%	4,160,000		4,155,555
Cabela’s Credit Card Master Note Trust
Series 2015-2 Class A1
07/17/23	2.250	%	5,640,000		5,693,669
Cabela’s Credit Card Master Note Trust (a)(b)
Series 2012-1A Class A2
02/18/20	0.956	%	2,010,000		2,011,553
Cabela’s Master Credit Card Trust Series 2014-1 Class A (b)
03/16/20	0.776	%	1,820,000		1,816,775
Capital One Multi-Asset Execution Trust
Series 2014-A2 Class A2
01/15/20	1.260	%	2,950,000		2,959,106
Series 2015-A2 Class A2
03/15/23	2.080	%	5,990,000		6,044,371
CarMax Auto Owner Trust Series 2015-3 Class A3
05/15/20	1.630	%	7,640,000		7,653,920
Carlyle Global Market Strategies CLO (a)
Series 2015-5A Class C
01/20/28	4.542	%	1,500,000		1,366,680
Carlyle Global Market Strategies CLO (a)(b)
Series 2014-3A Class A1B
07/27/26	1.956	%	9,050,000		9,059,955
Series 2015-4A Class D
10/20/27	6.444	%	1,300,000		1,092,861
Chase Issuance Trust
Series 2012-A4 Class A4
08/16/21	1.580	%	4,475,000		4,483,197
Series 2015-A4 Class A4
04/15/22	1.840	%	2,180,000		2,191,575

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
Chesapeake Funding LLC (a)(b)
Series 2011-2A Class A
04/07/24	1.672	%	$	857,284	$	863,913
Series 2012-2A Class A
05/07/24	0.872	%	707,781		707,522
Series 2013-1A Class A
01/07/25	0.872	%	1,271,318		1,270,813
Series 2014-1A Class A
03/07/26	0.842	%	13,378,264		13,362,373
Citibank Credit Card Issuance Trust
Series 2013-A6 Class A6
09/07/18	1.320	%	2,440,000		2,446,105
Series 2014-A5 Class A5
06/07/23	2.680	%	4,075,000		4,206,571
Series 2014-A6 Class A6
07/15/21	2.150	%	2,870,000		2,926,413
Citigroup Mortgage Loan Trust, Inc. Series 2005-WF2 Class MF1 (b)
08/25/35	5.331	%	223,193		666
Cole Park CLO Ltd. Series 2015 Class E (a)(b)
10/20/28	6.552	%	1,000,000		779,173
Conseco Financial Corp. Series 1997-6 Class A10
01/15/29	6.870	%	113,655		115,890
Contimortgage Home Equity Loan Trust Series 1996-4 Class A9 (NPFGC)
01/15/28	6.880	%	22,273		21,818
Countrywide Home Equity Loan Trust
Series 2007-S2 Class A3 (NPFGC)
05/25/37	5.813	%	1,706,771		1,687,154
Series 2007-S2 Class A6 (NPFGC)
05/25/37	5.779	%	1,730,284		1,719,758
DT Auto Owner Trust Subordinated, Series 2014-1A Class D (a)
01/15/21	3.980	%	4,350,000		4,356,530
Dell Equipment Finance Trust Series 2015-2 Class A2B (a)(b)
12/22/17	1.325	%	1,535,000		1,535,133
Discover Card Execution Note Trust
Series 2012-A6 Class A6
01/18/22	1.670	%	2,880,000		2,882,072
Series 2015-A2 Class A
10/17/22	1.900	%	9,135,000		9,174,044
Dryden Senior Loan Fund Series 2014-33A Class B (a)(b)
07/15/26	2.622	%	3,050,000		2,945,684
Dryden XXIV Senior Loan Fund Series 2012-24RA Class AR (a)(b)
11/15/23	1.652	%	5,405,000		5,374,856
Enterprise Fleet Financing LLC (a)
Series 2013-2 Class A2
03/20/19	1.060	%	2,343,090		2,342,621
Series 2015-1 Class A2
09/20/20	1.300	%	6,556,555		6,537,882
Series 2015-2 Class A2

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
02/22/21	1.590	%	$	4,830,000	$	4,842,639
Ford Credit Auto Owner Trust
Series 2013-B Class A3
10/15/17	0.570	%	213,671		213,603
Ford Credit Auto Owner Trust (a)
Series 2014-2 Class A
04/15/26	2.310	%	11,055,000		11,203,790
Series 2015-1 Class A
07/15/26	2.120	%	19,335,000		19,430,078
Series 2015-2 Class A
01/15/27	2.440	%	5,695,000		5,781,406
Ford Credit Floorplan Master Owner Trust Series 2013-2 Class A (a)
03/15/22	2.090	%	8,300,000		8,434,112
GCAT LLC Series 2014-2 Class A1 (a)(b)
10/25/19	3.721	%	1,739,385		1,730,987
GE Dealer Floorplan Master Note Trust (b)
Series 2012-2 Class A
04/22/19	1.176	%	4,480,000		4,485,113
Series 2014-1 Class A
07/20/19	0.806	%	7,625,000		7,589,661
Series 2015-1 Class A
01/20/20	0.926	%	7,845,000		7,791,046
GFT Mortgage Loan Trust Series 2015-GFT1 Class A (a)(b)
01/25/55	3.721	%	3,219,575		3,180,618
GM Financial Automobile Leasing Trust
Series 2015-1 Class A2
12/20/17	1.100	%	12,449,674		12,441,493
Series 2015-2 Class A3
12/20/18	1.680	%	11,425,000		11,422,810
Series 2015-3 Class A3
03/20/19	1.690	%	3,675,000		3,674,111
GM Financial Automobile Leasing Trust (b)
Series 2015-2 Class A2B
04/20/18	0.846	%	2,674,618		2,672,458
Golden Credit Card Trust Series 2015-3A Class A (a)(b)
07/15/19	0.846	%	5,555,000		5,539,095
Goldentree Loan Opportunities VIII Ltd. Series 2014-8A Class A (a)(b)
04/19/26	2.070	%	4,880,000		4,823,704
GreatAmerica Leasing Receivables Funding LLC Series 2015-1 Class A2 (a)
06/20/17	1.120	%	2,688,977		2,685,462
Green Tree Agency Advance Funding Trust I Series 2015-T1 Class AT1 (a)
10/15/46	2.302	%	6,085,000		6,075,081
Harley-Davidson Motorcycle Trust (b)
Series 2014-1 Class A2B
04/15/18	0.596	%	38,030		38,011
Series 2015-1 Class A2B
01/15/19	0.726	%	1,977,577		1,975,826
Hertz Fleet Lease Funding LP (a)(b)
Series 2013-3 Class A

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
12/10/27	0.974	%	$	6,183,353	$	6,188,419
Series 2014-1 Class A
04/10/28	0.824	%	2,961,100		2,962,448
Series 2015-1 Class A
07/10/29	0.994	%	7,925,000		7,940,470
Hertz Vehicle Financing II LP Series 2015-3A Class A (a)
09/25/21	2.670	%	2,870,000		2,887,535
Honda Auto Receivables Owner Trust Series 2013-4 Class A3
09/18/17	0.690	%	344,706		344,444
Huntington Auto Trust Series 2015-1 Class A2
10/16/17	0.760	%	3,669,305		3,666,650
Hyundai Auto Lease Securitization Trust Series 2015-B Class A2A (a)
12/15/17	0.950	%	7,016,000		7,008,726
Hyundai Floorplan Master Owner Trust Series 2013-1A Class A (a)(b)
05/15/18	0.776	%	10,155,000		10,155,637
MMAF Equipment Finance LLC Series 2014-AA Class A2 (a)
04/10/17	0.520	%	4,323,732		4,321,247
Mercedes-Benz Master Owner Trust Series 2015-AA Class A (a)(b)
04/15/19	0.746	%	9,420,000		9,405,150
Mountain View Funding CLO Series 2007-3A Class A1 (a)(b)
04/16/21	0.835	%	7,663,194		7,609,284
NRZ Advance Receivables Trust (a)
Series 2015-T1 Class AT1
08/15/46	2.315	%	7,585,000		7,582,630
Series 2015-T3 Class AT3
11/15/46	2.540	%	6,120,000		6,139,192
New York City Tax Lien Trust (a)
Series 2014-A Class A
11/10/27	1.030	%	391,070		390,562
Series 2015-A Class A
11/10/28	1.340	%	2,022,379		2,018,587
Nissan Auto Receivables Owner Trust Series 2015-A Class A1 (b)
01/15/20	0.826	%	5,895,000		5,887,595
OZLM VII Ltd. Series 2014-7A Class A2A (a)(b)
07/17/26	2.670	%	3,995,000		3,810,667
Oak Hill Advisors Residential Loan Trust Series 2015-NPL1 Class A1 (a)(b)
01/25/55	3.475	%	744,731		742,632
Oak Hill Credit Partners X Ltd. Series 2014-10A Class A (a)(b)
07/20/26	2.094	%	5,570,000		5,499,233
Octagon Investment Partners XIX Ltd. Series 2014-A Class 1A (a)(b)
04/15/26	2.142	%	6,360,000		6,260,116

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
Octagon Investment Partners XXI Ltd. Series 2014-1A Class A1B (a)(b)
11/14/26	1.682	%	$	9,200,000	$	9,183,403
Octagon Investment Partners XXII Ltd. Series 2014-1A Class E1 (a)(b)
11/25/25	5.871	%	1,000,000		714,045
Ocwen Master Advance Receivables Trust Series 2015-1 Class AT1 (a)
09/17/46	2.537	%	4,555,000		4,554,320
OneMain Financial Issuance Trust (a)
Series 2015-1A Class A
03/18/26	3.190	%	5,085,000		5,083,845
Series 2015-2A Class A
07/18/25	2.570	%	7,465,000		7,372,647
Renaissance Home Equity Loan Trust Series 2005-3 Class M2 (b)
11/25/35	5.355	%	4,750,000		463,953
SLM Student Loan Trust Series 2014-2 Class A1 (b)
07/25/19	0.677	%	965,892		964,684
SMART ABS Series Trust Series 2015-3US Class A2B (b)
04/16/18	1.175	%	3,960,000		3,960,009
SPS Servicer Advance Receivables Trust Series 2015-T2 Class AT2 (a)
01/15/47	2.620	%	3,825,000		3,826,315
Selene Non-Performing Loans LLC Series 2014-1A Class A (a)(b)
05/25/54	2.981	%	1,114,043		1,103,080
SoFi Professional Loan Program LLC Series 2015-D Class RC (a)(j)
10/26/37	0.000	%	1		666,667
Symphony CLO V Ltd. Series 2007-5A Class A1 (a)(b)
01/15/24	1.372	%	11,540,321		11,216,188
Synchrony Credit Card Master Note Trust Series 2011-2 Class A (b)
05/15/19	0.906	%	10,120,000		10,122,603
TAL Advantage V LLC Series 2014-2A Class A1 (a)
05/20/39	1.700	%	2,151,864		2,136,103
Treman Park CLO Ltd. Series 2015-1A Class A (a)(b)
04/20/27	2.124	%	4,600,000		4,528,797
Venture XI CLO Ltd. Series 2012-11A Class AR (a)(b)
11/14/22	1.662	%	9,475,000		9,413,375
Volkswagen Auto Lease Trust Series 2015-A Class A2B (b)
06/20/17	0.746	%	2,419,189		2,412,942
Volkswagen Auto Loan Enhanced Trust
Series 2013-1 Class A3
08/21/17	0.560	%	411,149		410,698

Issuer	Coupon Rate		Principal Amount		Value
Asset-Backed Securities - Non-Agency (continued)
Series 2013-2 Class A3
04/20/18	0.700	%	$	5,336,388	$	5,312,449
Wheels SPV 2 LLC Series 2015-1A Class A2 (a)
04/22/24	1.270	%	3,040,000		3,047,724
World Financial Network Credit Card Master Trust
Series 2012-D Class A
04/17/23	2.150	%	11,475,000		11,608,568
Series 2015-B Class A
06/17/24	2.550	%	10,735,000		10,958,059
World Omni Automobile Lease Securitization Trust
Series 2015-A Class A3
10/15/18	1.540	%	4,890,000		4,892,104
World Omni Automobile Lease Securitization Trust (b)
Series 2015-A Class A2B
05/15/18	0.806	%	3,705,000		3,702,696
Total Asset-Backed Securities - Non-Agency (Cost: $509,451,917)					$	503,868,770
U.S. Treasury Obligations 9.5%
U.S. Treasury
04/15/16	0.250	%	113,394,000		113,353,065
12/15/18	1.250	%	13,013,900		13,119,638
01/15/19	1.125	%	325,000		326,422
12/31/20	1.750	%	18,972,400		19,345,919
12/31/22	2.125	%	7,468,000		7,694,669
11/15/25	2.250	%	42,710,000		43,929,584
U.S. Treasury (i)
08/15/45	2.875	%	78,846,100		80,583,158
U.S. Treasury (j)
STRIPS
05/15/43	0.000	%	68,949,000		31,562,715
Total U.S. Treasury Obligations (Cost: $301,286,559)					$	309,915,170
U.S. Government & Agency Obligations 1.1%
Residual Funding Corp. (j)
STRIPS
10/15/19	0.000	%	9,825,000		9,301,121
01/15/21	0.000	%	12,780,000		11,689,495
01/15/30	0.000	%	19,096,000		12,692,825
04/15/30	0.000	%	2,705,000		1,783,499
Total U.S. Government & Agency Obligations (Cost: $34,602,280)					$	35,466,940
Foreign Government Obligations(k)  1.4%
Chile 0.1%
Chile Government International Bond
10/30/22	2.250	%	2,900,000		2,827,500

Issuer	Coupon Rate		Principal Amount		Value
Foreign Government Obligations (k) (continued)
Colombia —%
Colombia Government International Bond
01/18/41	6.125	%	$	1,697,000	$	1,572,216
France 0.6%
Electricite de France SA (a)
10/13/55	5.250	%	19,028,000		18,962,087
Mexico 0.2%
Mexico Government International Bond
03/15/22	3.625	%	4,114,000		4,134,570
03/08/44	4.750	%	2,105,000		1,905,025
Total					6,039,595
Panama 0.1%
Panama Government International Bond
01/26/36	6.700	%	1,635,000		1,953,825
Peru 0.1%
Peruvian Government International Bond
03/14/37	6.550	%	1,725,000		1,988,063
Philippines —%
Philippine Government International Bond
10/23/34	6.375	%	525,000		716,780
Qatar 0.1%
Nakilat, Inc. (a)
12/31/33	6.067	%	2,293,000		2,407,650
United Kingdom 0.2%
Lloyds Banking Group PLC Junior Subordinated (b)
12/31/49	7.500	%	7,086,000		7,334,010
Total Foreign Government Obligations (Cost: $43,800,831)					$	43,801,726
Issue Description	Coupon Rate		Principal Amount		Value
Municipal Bonds 1.5%
California 0.4%
Los Angeles Unified School District Unlimited General Obligation Bonds Taxable Build America Bonds Series 2009
07/01/34	5.750	%	11,150,000		13,774,598

Issue Description	Coupon Rate		Principal Amount		Value
Municipal Bonds (continued)
Illinois 0.2%
City of Chicago Waterworks Revenue Bonds Build America Bonds Series 2010
11/01/40	6.742	%	$	1,520,000	$	1,762,425
City of Chicago
Unlimited General Obligation Bonds
Taxable Project
Series 2011-C1
01/01/35	7.781	%	1,090,000		1,168,295
Unlimited General Obligation Refunding Bonds
Taxable
Series 2014B
01/01/44	6.314	%	2,530,000		2,342,426
Unlimited General Obligation Taxable Bonds
Series 2015B
01/01/33	7.375	%	835,000		862,822
Total					6,135,968
Kentucky 0.5%
Kentucky Asset Liability Commission Taxable Revenue Bonds Series 2010
04/01/18	3.165	%	14,409,361		14,653,600
Ohio 0.3%
JobsOhio Beverage System Taxable Revenue Bonds Series 2013-B
01/01/35	4.532	%	8,565,000		9,394,520
Puerto Rico 0.1%
Puerto Rico Sales Tax Financing Corp. (l)
Revenue Bonds
1st Senior Series 2009C
08/01/57	5.750	%	1,010,000		647,723
1st Subordinated Series 2009A-1
08/01/43	5.250	%	4,335,000		1,647,343
1st Subordinated Series 2009B
08/01/44	6.500	%	1,020,000		400,350
1st Subordinated Series 2010C
08/01/41	5.250	%	5,075,000		1,928,551
Total					4,623,967
Total Municipal Bonds (Cost: $47,614,664)					$	48,582,653

Issuer	Coupon Rate		Principal Amount		Value
Preferred Debt 1.2%
Banking 1.0%
HSBC Holdings PLC
12/31/49	8.000	%	$	165,495	$	4,312,800
M&T Bank Corp. (b)
12/31/49	6.375	%	1,660		1,759,600
12/31/49	6.375	%	7,243		7,858,582
State Street Corp. (b)
12/31/49	5.900	%	72,535		1,951,191
U.S. Bancorp (b)
12/31/49	6.500	%	145,837		4,160,730
Wells Fargo & Co.,
12/31/49	7.500	%	10,000		11,720,000
Total					31,762,903
Brokerage/Asset Managers/Exchanges 0.1%
Merrill Lynch Capital Trust I (b)
12/15/66	6.450	%	85,000		2,172,600
Building Materials 0.1%
Stanley Black & Decker, Inc.
07/25/52	5.750	%	183,050		4,704,385
Property & Casualty —%
Allstate Corp. (The) (b)
01/15/53	5.100	%	44,460		1,125,283
Total Preferred Debt (Cost: $38,791,876)					$	39,765,171
Borrower	Weighted Average Coupon		Principal Amount		Value
Senior Loans 0.1%
Health Care —%
American Renal Holdings, Inc. 2nd Lien Term Loan (b)(m)
03/20/20	8.500	%	$	304,000	$	288,800
Pharmaceuticals —%
Concordia Healthcare Corp. Term Loan (b)(m)
10/21/21	5.250	%	300,000		286,500
Technology 0.1%
Applied Systems, Inc. 2nd Lien Term Loan (b)(m)
01/24/22	7.500	%	49,000		45,031

		Weighted
Borrower		Average Coupon		Principal Amount		Value
Senior Loans (continued)
Technology (continued)
Microsemi Corp. Tranche B Term Loan (b)(f)(m)
01/15/23		5.250	%	$	1,053,000	$	1,045,892
Riverbed Technology, Inc. Term Loan (b)(m)
04/25/22		6.000	%	349,542		345,757
Total						1,436,680
Total Senior Loans (Cost: $2,008,262)						$	2,011,980
Issuer				Shares		Value
Common Stocks —%
FINANCIALS —%
Insurance —%
WMI Holdings Corp. Escrow (c)(e)(n)(o)				2,725		$	—
WMIH Corp. (n)				54,217		131,205
Total						131,205
TOTAL FINANCIALS						131,205
INDUSTRIALS —%
Airlines —%
United Continental Holdings, Inc. (n)				1,493		72,082
TOTAL INDUSTRIALS						72,082
Total Common Stocks (Cost: $1,511,104)						$	203,287
Issuer	Notional ($)/ Contracts	Exercise Price ($)		Expiration Date		Value
Options Purchased Puts —%
Put - OTC 5-Year Interest Rate Swap(p)
	16,500,000	2.15		09/09/16		42,773
Put - OTC 5-Year Interest Rate Swap(p)
	20,000,000	2.00		12/12/16		129,526
Total Options Purchased Puts (Cost: $506,625)						$	172,299
				Shares		Value
Money Market Funds 0.1%
Columbia Short-Term Cash Fund, 0.360% (q)(r)				3,355,720		$	3,355,720
Total Money Market Funds (Cost: $3,355,720)						$	3,355,720

Total Investments
(Cost: $3,657,313,678) (s)	$	3,630,168,248(t)
Other Assets & Liabilities, Net	(373,612,342)
Net Assets	$	3,256,555,906

At January 31, 2016, securities and cash totaling $5,573,712 were pledged as collateral.

Investments in Derivatives

Futures Contracts Outstanding at January 31, 2016

Long Futures Contracts Outstanding

Contract Description	Number of Contracts	Trading Currency	Notional Market Value ($)	Expiration Date	Unrealized Appreciation ($)	Unrealized Depreciation ($)
US 2YR NOTE (CBT)	1,516	USD	331,435,500	03/2016	741,187	—
US 5YR NOTE (CBT)	3,052	USD	368,290,563	03/2016	4,394,110	—
Total			699,726,063		5,135,297	—

Short Futures Contracts Outstanding

Contract Description	Number of Contracts		Trading Currency	Notional Market Value ($)		Expiration Date	Unrealized Appreciation ($)	Unrealized Depreciation ($)
US 10YR NOTE (CBT)	(426	)	USD	(55,200,281	)	03/2016	—	(455,746	)
US 10YR ULTRA	(505	)	USD	(70,494,844	)	03/2016	—	(674,984	)
US LONG BOND(CBT)	(156	)	USD	(25,120,875	)	03/2016	—	(987,262	)
US ULTRA BOND(CBT)	(414	)	USD	(68,801,625	)	03/2016	—	(1,654,907	)
Total				(219,617,625	)		—	(3,772,899	)

Credit Default Swap Contracts Outstanding at January 31, 2016

Buy Protection

Counterparty	Reference Entity	Expiration Date	Pay Fixed Rate (%)	Notional Amount ($)	Market Value ($)		Unamortized Premium (Paid) Received ($)		Periodic Payments Receivable (Payable) ($)		Unrealized Appreciation ($)	Unrealized Depreciation ($)
Barclays	Apache Corp.	12/20/2020	1.000	8,000,000	527,096		(852,390	)	(8,889	)	—	(334,183	)
Barclays	Electricite de France SA	12/20/2020	1.000	1,640,000	12,515		8,364		(1,822	)	19,057	—
Barclays	Electricite de France SA	12/20/2020	1.000	1,640,000	12,515		4,562		(1,822	)	15,255	—
Barclays	Electricite de France SA	12/20/2020	1.000	1,635,000	12,477		3,783		(1,817	)	14,443	—
Barclays	International Business Machines Corp.	12/20/2020	1.000	3,190,000	(50,771	)	61,525		(3,544	)	7,210	—
Barclays	Newmont Mining Corp.	12/20/2020	1.000	3,220,000	170,665		(195,672	)	(3,578	)	—	(28,585	)
Citi	Campbell Soup Co.	09/20/2020	1.000	3,870,000	(114,553	)	70,139		(4,300	)	—	(48,714	)
Citi	D.R. Horton, Inc.	12/20/2020	1.000	8,925,000	330,222		(227,499	)	(9,917	)	92,806	—
Citi	Energy Transfer Partners, LP	12/20/2020	1.000	3,280,000	508,615		(206,391	)	(3,644	)	298,580	—
Citi	Home Depot, Inc.	09/20/2020	1.000	38,785,000	(1,412,019	)	1,243,261		(43,095	)	—	(211,853	)
Citi	International Business Machines Corp.	12/20/2020	1.000	3,235,000	(51,487	)	83,560		(3,594	)	28,479	—
Citi	Kinder Morgan, Inc.	12/20/2020	1.000	3,280,000	440,967		(291,032	)	(3,644	)	146,291	—
Citi	Markit CDX Emerging Markets Index, Series 24	12/20/2020	1.000	12,842,900	1,489,309		(1,539,585	)	(14,270	)	—	(64,546	)
Citi	Markit CDX Emerging Markets Index, Series 24	12/20/2020	1.000	31,247,300	3,623,550		(4,130,451	)	(34,719	)	—	(541,620	)
Citi	McDonald’s Corp.	12/20/2020	1.000	9,445,000	(333,078	)	244,436		(10,494	)	—	(99,136	)
Citi	Morgan Stanley	12/20/2020	1.000	8,305,000	(9,795	)	23,072		(9,228	)	4,049	—
Citi	Nordstrom, Inc.	12/20/2020	1.000	3,280,000	40,929		72,200		(3,644	)	109,485	—
Citi	Toll Brothers, Inc.	09/20/2020	1.000	2,040,000	80,766		(39,363	)	(2,267	)	39,136	—
Citi	Viacom, Inc.	12/20/2020	1.000	4,915,000	253,939		(242,860	)	(5,461	)	5,618	—
Citi	Viacom, Inc.	12/20/2020	1.000	4,915,000	253,939		(203,239	)	(5,461	)	45,239	—
Citi	Yum! Brands, Inc.	12/20/2020	1.000	3,270,000	169,085		(254,510	)	(3,633	)	—	(89,058	)

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.	12/20/2020	1.000	6,570,000	(20,183	)	15,166		(7,300	)	—	(12,317	)
Goldman Sachs International	Bank of America Corp.	12/20/2020	1.000	12,760,000	(39,198	)	154,236		(14,178	)	100,860	—
Goldman Sachs International	Barclays Bank, PLC	12/20/2020	1.000	16,420,000	(172,931	)	322,351		(18,244	)	131,176	—
Goldman Sachs International	Citigroup, Inc.	12/20/2020	1.000	6,570,000	(7,758	)	(15,101	)	(7,300	)	—	(30,159	)
Goldman Sachs International	Citigroup, Inc.	12/20/2020	1.000	16,385,000	(19,346	)	143,930		(18,206	)	106,378	—
Goldman Sachs International	ConocoPhillips	09/20/2020	1.000	3,295,000	292,276		30,515		(3,661	)	319,130	—
Goldman Sachs International	ConocoPhillips	12/20/2020	1.000	13,085,000	1,279,193		183,472		(14,539	)	1,448,126	—
Goldman Sachs International	Costco Wholesale Corp.	12/20/2020	1.000	3,280,000	(119,969	)	112,075		(3,644	)	—	(11,538	)
Goldman Sachs International	Eaton Corp. PLC	12/20/2020	1.000	3,220,000	(69,337	)	67,740		(3,578	)	—	(5,175	)
Goldman Sachs International	Electricite de France SA	12/20/2020	1.000	8,205,000	62,612		53,320		(9,117	)	106,815	—
Goldman Sachs International	Electricite de France SA	12/20/2020	1.000	3,280,000	25,029		18,231		(3,644	)	39,616	—
Goldman Sachs International	Electricite de France SA	12/20/2020	1.000	6,555,000	50,021		34,923		(7,283	)	77,661	—
Goldman Sachs International	Markit CDX Emerging Markets Index, Series 24	12/20/2020	1.000	9,633,400	1,117,124		(1,145,814	)	(10,704	)	—	(39,394	)
Goldman Sachs International	McDonald’s Corp.	12/20/2020	1.000	11,440,000	(403,432	)	307,090		(12,711	)	—	(109,053	)
Goldman Sachs International	Morgan Stanley	12/20/2020	1.000	4,700,000	(5,543	)	(10,803	)	(5,222	)	—	(21,568	)
Goldman Sachs International	Morgan Stanley	12/20/2020	1.000	5,910,000	(6,970	)	(19,019	)	(6,567	)	—	(32,556	)
Goldman Sachs International	Morgan Stanley	12/20/2020	1.000	6,555,000	(7,731	)	(36,111	)	(7,283	)	—	(51,125	)
Goldman Sachs International	Morgan Stanley	12/20/2020	1.000	8,850,000	(10,437	)	69,499		(9,834	)	49,228	—
Goldman Sachs International	Textron, Inc.	09/20/2020	1.000	14,135,000	(139,975	)	58,383		(15,706	)	—	(97,298	)
Goldman Sachs International	Walt Disney Co. (The)	12/20/2020	1.000	8,055,000	(320,500	)	309,528		(8,950	)	—	(19,922	)
Goldman Sachs International	Xerox Corp.	12/20/2020	1.000	4,915,000	247,169		(150,202	)	(5,461	)	91,506	—
Goldman Sachs International	Yum! Brands, Inc.	12/20/2020	1.000	4,915,000	254,144		(143,730	)	(5,461	)	104,953	—
JPMorgan	Bank of America Corp.	12/20/2020	1.000	8,190,000	(25,159	)	18,924		(9,100	)	—	(15,335	)
JPMorgan	Barclays Bank, PLC	12/20/2020	1.000	4,905,000	191,532		(101,558	)	(5,450	)	84,524	—
JPMorgan	Campbell Soup Co.	12/20/2020	1.000	11,765,000	(354,072	)	270,865		(13,072	)	—	(96,279	)
JPMorgan	Citigroup, Inc.	09/20/2020	1.000	11,765,000	(36,595	)	15,459		(13,072	)	—	(34,208	)
JPMorgan	Citigroup, Inc.	12/20/2020	1.000	8,190,000	(9,670	)	(15,082	)	(9,100	)	—	(33,852	)
JPMorgan	ConocoPhillips	09/20/2020	1.000	4,880,000	432,870		84,224		(5,422	)	511,672	—
JPMorgan	D.R. Horton, Inc.	12/20/2020	1.000	16,835,000	622,890		(394,461	)	(18,706	)	209,723	—
JPMorgan	Energy Transfer Partners, LP	09/20/2020	1.000	4,880,000	697,248		(174,243	)	(5,422	)	517,583	—
JPMorgan	General Mills, Inc.	12/20/2020	1.000	3,235,000	(113,299	)	107,012		(3,594	)	—	(9,881	)
JPMorgan	Goldman Sachs Group, Inc.	12/20/2020	1.000	8,205,000	(9,675	)	(18,878	)	(9,117	)	—	(37,670	)
JPMorgan	Goldman Sachs Group, Inc.	12/20/2020	1.000	6,550,000	(7,724	)	(21,079	)	(7,278	)	—	(36,081	)
JPMorgan	Goldman Sachs Group, Inc.	12/20/2020	1.000	19,050,000	(22,465	)	8,800		(21,167	)	—	(34,832	)

Counterparty	Reference Entity	Expiration Date	Pay Fixed Rate (%)	Notional Amount ($)	Market Value ($)		Unamortized Premium (Paid) Received ($)		Periodic Payments Receivable (Payable) ($)		Unrealized Appreciation ($)	Unrealized Depreciation ($)
JPMorgan	International Business Machines Corp.	12/20/2020	1.000	3,275,000	(52,123	)	63,075		(3,639	)	7,313	—
JPMorgan	Markit CDX Emerging Markets Index, Series 24	12/20/2020	1.000	9,633,400	1,117,124		(1,141,303	)	(10,704	)	—	(34,883	)
JPMorgan	McDonald’s Corp.	12/20/2020	1.000	6,555,000	(231,162	)	177,087		(7,284	)	—	(61,359	)
JPMorgan	McDonald’s Corp.	12/20/2020	1.000	3,275,000	(115,493	)	86,120		(3,638	)	—	(33,011	)
JPMorgan	Nordstrom, Inc.	12/20/2020	1.000	11,220,000	140,008		(351,998	)	(12,467	)	—	(224,457	)
JPMorgan	Toll Brothers, Inc.	09/20/2020	1.000	16,735,000	662,554		(358,389	)	(18,595	)	285,570	—
JPMorgan	Weatherford International PLC	12/20/2020	1.000	4,915,000	1,678,874		(957,623	)	(5,461	)	715,790	—
JPMorgan	Yum! Brands, Inc.	12/20/2020	1.000	1,635,000	84,542		(116,241	)	(1,817	)	—	(33,516	)
JPMorgan	Yum! Brands, Inc.	12/20/2020	1.000	980,000	50,674		(71,637	)	(1,089	)	—	(22,052	)
Morgan Stanley	Apache Corp.	12/20/2020	1.000	6,445,000	424,642		(332,380	)	(7,161	)	85,101	—
Morgan Stanley	Apache Corp.	12/20/2020	1.000	6,435,000	423,983		(457,086	)	(7,150	)	—	(40,253	)
Morgan Stanley	Electricite de France SA	12/20/2020	1.000	6,555,000	50,020		39,375		(7,283	)	82,112	—
Morgan Stanley	Goldman Sachs Group, Inc.	09/20/2020	1.000	22,440,000	(59,212	)	98,059		(24,933	)	13,914	—
Morgan Stanley	Goldman Sachs Group, Inc.	12/20/2020	1.000	3,935,000	(4,640	)	(19,880	)	(4,372	)	—	(28,892	)
Morgan Stanley	Nucor Corp.	09/20/2020	1.000	10,160,000	495,169		106,682		(11,289	)	590,562	—
Morgan Stanley	Textron, Inc.	09/20/2020	1.000	4,835,000	(47,880	)	38,339		(5,372	)	—	(14,913	)
Morgan Stanley	Time Warner, Inc.	09/20/2020	1.000	3,280,000	(56,951	)	43,497		(3,644	)	—	(17,098	)
Morgan Stanley	Time Warner, Inc.	12/20/2020	1.000	1,640,000	(26,880	)	13,759		(1,822	)	—	(14,943	)
Morgan Stanley	Viacom, Inc.	09/20/2020	1.000	3,280,000	144,104		(150,502	)	(3,644	)	—	(10,042	)
Morgan Stanley*	Markit CDX North America High Yield Index, Series 25	12/20/2020	5.000	247,232,053	(443,337	)	—		(1,373,511	)	—	(1,816,848	)
Total				822,604,053	13,539,041		(9,519,474	)	(2,012,811	)	6,504,961	(4,498,205	)

*Centrally cleared swap contract

Sell Protection

Counterparty	Reference Entity	Expiration Date	Receive Fixed Rate (%)	Implied Credit Spread (%)**		Notional Amount ($)		Market Value ($)		Unamortized Premium (Paid) Received ($)		Periodic Payments Receivable (Payable) ($)	Unrealized Appreciation ($)	Unrealized Depreciation ($)
Goldman Sachs International	Barrick Gold Corp.	12/20/2020	1.000	3.115	%	(3,235,000	)	(306,461	)	347,772		3,594	44,905	—
Goldman Sachs International	Markit CMBX North America Index, Series 6 BBB-	05/11/2063	3.000	4.662	%	(6,400,000	)	(583,063	)	536,962		2,667	—	(43,434	)
Goldman Sachs International	Markit CMBX North America Index, Series 6 BBB-	05/11/2063	3.000	4.662	%	(3,100,000	)	(282,421	)	276,554		1,292	—	(4,575	)
Goldman Sachs International	Markit CMBX North America Index, Series 7 BBB-	01/17/2047	3.000	5.146	%	(3,200,000	)	(419,500	)	403,918		1,333	—	(14,249	)
Goldman Sachs International	Markit CMBX North America Index, Series 7 BBB-	01/17/2047	3.000	5.146	%	(3,200,000	)	(419,500	)	407,603		1,333	—	(10,564	)
JPMorgan	FedEx Corp.	12/20/2020	1.000	0.585	%	(3,215,000	)	63,957		(78,546	)	3,572	—	(11,017	)
Morgan Stanley	Anadarko Petroleum Corp.	12/20/2020	1.000	4.600	%	(6,445,000	)	(980,855	)	570,270		7,161	—	(403,424	)

Counterparty	Reference Entity	Expiration Date	Receive Fixed Rate (%)	Implied Credit Spread (%)**		Notional Amount ($)		Market Value ($)		Unamortized Premium (Paid) Received ($)		Periodic Payments Receivable (Payable) ($)	Unrealized Appreciation ($)	Unrealized Depreciation ($)
Morgan Stanley	Anadarko Petroleum Corp.	12/20/2020	1.000	4.600	%	(6,435,000	)	(979,333	)	681,788		7,150	—	(290,395	)
Morgan Stanley	Markit CMBX North America Index, Series 6 BBB-	05/11/2063	3.000	4.662	%	(4,000,000	)	(364,414	)	249,006		1,667	—	(113,741	)
Morgan Stanley	Markit CMBX North America Index, Series 6 BBB-	05/11/2063	3.000	4.662	%	(3,750,000	)	(341,638	)	306,494		1,562	—	(33,582	)
Morgan Stanley	Markit CMBX North America Index, Series 6 BBB-	05/11/2063	3.000	4.662	%	(2,300,000	)	(209,538	)	180,529		958	—	(28,051	)
Morgan Stanley	Markit CMBX North America Index, Series 6 BBB-	05/11/2063	3.000	4.662	%	(6,000,000	)	(546,621	)	502,152		2,500	—	(41,969	)
Morgan Stanley	Markit CMBX North America Index, Series 7 BBB-	01/17/2047	3.000	5.146	%	(4,100,000	)	(537,484	)	486,251		1,708	—	(49,525	)
Morgan Stanley	Markit CMBX North America Index, Series 7 BBB-	01/17/2047	3.000	5.146	%	(3,000,000	)	(393,281	)	363,781		1,250	—	(28,250	)
Morgan Stanley	Markit CMBX North America Index, Series 7 BBB-	01/17/2047	3.000	5.146	%	(8,500,000	)	(1,114,297	)	1,041,446		3,542	—	(69,309	)
Morgan Stanley	Markit CMBX North America Index, Series 7 BBB-	01/17/2047	3.000	5.146	%	(1,750,000	)	(229,414	)	227,480		—	—	(1,934	)
Morgan Stanley	Mondelez International, Inc.	12/20/2020	1.000	0.416	%	(3,235,000	)	91,186		(100,730	)	3,594	—	(5,950	)
Total						(71,865,000	)	(7,552,677	)	6,402,730		44,883	44,905	(1,149,969	)

**  Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

Interest Rate Swap Contracts Outstanding at January 31, 2016

Counterparty	Floating Rate Index	Fund Pay/Receive Floating Rate	Fixed Rate (%)	Expiration Date	Notional Currency	Notional Amount	Unamortized Premium (Paid) Received ($)		Unrealized Appreciation ($)	Unrealized Depreciation ($)
Morgan Stanley*	3-Month USD LIBOR-BBA	Receive	1.923	09/14/2022	USD	11,000,000	(114	)	—	(361,809	)
Morgan Stanley*	3-Month USD LIBOR-BBA	Receive	1.593	09/14/2020	USD	11,350,000	(100	)	—	(239,001	)
Morgan Stanley*	3-Month USD LIBOR-BBA	Receive	1.569	09/16/2020	USD	11,000,000	(97	)	—	(217,508	)
Total									—	(818,318	)

*Centrally cleared swap contract

Notes to Portfolio of Investments
(a)	Represents privately placed and other securities and instruments exempt from SEC registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. The Fund may invest in private placements determined to be liquid as well as those determined to be illiquid. Private placements may be determined to be liquid under guidelines established by the Fund’s Board of Trustees. At January 31, 2016, the value of these securities amounted to $893,338,891 or 27.43% of net assets.
(b)	Variable rate security.
(c)	Identifies securities considered by the Investment Manager to be illiquid and may be difficult to sell. The aggregate value of such securities at January 31, 2016 was $42,819, which represents less than 0.01% of net assets. Information concerning such security holdings at January 31, 2016 is as follows:

Security Description	Acquisition Dates	Cost ($)
American Mortgage Trust
Series 2093-3 Class 3A
07/27/23 8.188%	04-27-1995	2,752
WMI Holdings Corp. Escrow	03-28-2008	—
Washington Mutual Bank
Subordinated
01/15/15 0.000%	09-25-2007 - 05-14-2008	24,052,072

(d)	Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At January 31, 2016, the value of these securities amounted to $325,240, which represents 0.01% of net assets.
(e)	Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At January 31, 2016, the value of these securities amounted to $42,819, which represents less than 0.01% of net assets.
(f)	Security, or a portion thereof, has been purchased on a when-issued or delayed delivery basis.
(g)	Interest Only (IO) represents the right to receive the monthly interest payments on an underlying pool of mortgage loans.
(h)	Principal Only (PO) represents the right to receive the principal portion only on an underlying pool of mortgage loans.
(i)	This security or a portion of this security has been pledged as collateral in connection with derivative contracts.
(j)	Zero coupon bond.
(k)	Principal and interest may not be guaranteed by the government.
(l)	Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At January 31, 2016, the value of these securities amounted to $4,623,967 or 0.14% of net assets.
(m)	Senior loans have interest rates 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 January 31, 2016. 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.
(n)	Non-income producing investment.
(o)	Negligible market value.
(p)	Purchased swaption contracts outstanding at January 31, 2016:

Description	Counterparty	Floating Rate Index	Fund Pay/Receive Floating Rate	Exercise Rate (%)	Expiration Date	Notional Amount ($)	Premium Paid ($)	Market Value ($)
Put - OTC 5-Year Interest Rate Swap	Barclays	3-Month USD LIBOR BBA	Receive	2.150	09/13/2021	16,500,000	235,125	42,773
Put - OTC 5-Year Interest Rate Swap	Citi	3-Month USD LIBOR BBA	Receive	2.000	12/14/2021	20,000,000	271,500	129,526
Total							506,625	172,299

(q)	The rate shown is the seven-day current annualized yield at January 31, 2016.
(r)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended January 31, 2016 are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds from Sales ($)	Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	18,280,193	408,680,728	(423,605,201)	3,355,720	10,141	3,355,720

(s) At January 31, 2016, the cost of securities for federal income tax purposes was approximately $3,657,314,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	61,060,000
Unrealized Depreciation	(88,206,000		)
Net Unrealized Depreciation	$	(27,146,000	)

(t) 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

Currency Legend
USD	US Dollar

Fair Value Measurements

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

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

·Level 1 - Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (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 overseeing 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 January 31, 2016:

	Level 1 Quoted Prices in Active Markets for Identical Assets ($)		Level 2 Other Significant Observable Inputs ($)		Level 3 Significant Unobservable Inputs ($)		Total ($)
Investments
Corporate Bonds & Notes	—		1,609,820,430		41,068		1,609,861,498
Residential Mortgage-Backed Securities - Agency	—		714,644,399		—		714,644,399
Residential Mortgage-Backed Securities - Non-Agency	—		131,820,607		11,329,567		143,150,174
Commercial Mortgage-Backed Securities - Non-Agency	—		138,908,325		369,691		139,278,016
Asset-Backed Securities - Agency	—		36,090,445		—		36,090,445
Asset-Backed Securities - Non-Agency	—		496,195,170		7,673,600		503,868,770
U.S. Treasury Obligations	278,352,455		31,562,715		—		309,915,170
U.S. Government & Agency Obligations	—		35,466,940		—		35,466,940
Foreign Government Obligations	—		43,801,726		—		43,801,726
Municipal Bonds	—		48,582,653		—		48,582,653
Preferred Debt	39,765,171		—		—		39,765,171
Senior Loans	—		1,723,180		288,800		2,011,980
Common Stocks
Financials	131,205		—		0		131,205
Industrials	72,082		—		—		72,082
Total Common Stocks	203,287		—		0		203,287
Options Purchased Puts	—		172,299		—		172,299
Money Market Funds	—		3,355,720		—		3,355,720
Total Investments	318,320,913		3,292,144,609		19,702,726		3,630,168,248
Derivatives
Assets
Futures Contracts	5,135,297		—		—		5,135,297
Swap Contracts	—		6,549,866		—		6,549,866
Liabilities
Futures Contracts	(3,772,899	)	—		—		(3,772,899	)
Swap Contracts	—		(6,027,307	)	(439,185	)	(6,466,492	)
Total	319,683,311		3,292,667,168		19,263,541		3,631,614,020

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 valued based upon utilizing observable market inputs, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets and/or fund per share market values which are not considered publicly available.

Futures contracts and swap contracts are valued at unrealized appreciation (depreciation).

Financial assets were transferred from Level 1 to Level 2 as the market for these assets is not considered publicly available. Fund per share market values were obtained using observable market inputs.

The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:

Transfers In		Transfers Out
Level 1 ($)	Level 2 ($)	Level 1 ($)	Level 2 ($)
—	18,280,193	18,280,193	—

Transfers between Level 1 and Level 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

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

	Corporate Bonds & Notes ($)		Residential Mortgage- Backed Securities - Agency ($)		Residential Mortgage- Backed Securities - Non-Agency ($)		Commercial Mortgage- Backed Securities - Non-Agency ($)		Asset-Backed Securities - Non-Agency ($)		Senior Loans ($)		Credit Default Swap Contracts ($)(a)		Total ($)
Balance as of April 30, 2015	518,165		487,500		12,755,784		2,238,583		20,298,332		148,925		—		36,447,289
Increase (decrease) in accrued discounts/premiums	—		—		(13,985	)	(451	)	—		—		—		(14,436	)
Realized gain (loss)	8,725		—		(28,975	)	—		—		2,035		—		(18,215	)
Change in unrealized appreciation (depreciation)(b)	(8,487	)	—		(219,393	)	(1,976	)	(42,939	)	(16,465	)	(439,185	)	(728,445	)
Sales	(477,335	)	—		(9,975,228	)	(1,866,465	)	(1,093,151	)	(148,555	)	—		(13,560,734	)
Purchases	—		—		8,811,364		—		4,491,358		—		—		13,302,722
Transfers into Level 3	—		—		—		—		—		302,860		—		302,860
Transfers out of Level 3	—		(487,500	)	—		—		(15,980,000	)	—		—		(16,467,500	)
Balance as of January 31, 2016	41,068		—		11,329,567		369,691		7,673,600		288,800		(439,185	)	19,263,541

(a) Cost of purchases and sales are not recorded for swap contracts, realized gain (loss) during the period was $(15,757).

(b) Change in unrealized appreciation (depreciation) relating to securities held at January 31, 2016 was $(572,637), which is comprised of Residential Mortgage-Backed Securities — Non-Agency of $(74,477), Commercial Mortgage-Backed Securities — Non-Agency of $(1,976), Asset-Backed Securities — Non-Agency of $(42,939), Senior Loans of $(14,060) and Credit Default Swap Contracts of $(439,185).

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 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, commercial, and asset backed securities as well as senior loans and swap contracts classified as Level 3 securities are valued using the market approach and utilize single market quotations from broker dealers which may have included, but were not limited to, observable transactions for identical or similar assets in the market and the distressed nature of the security.  The appropriateness of fair values for these securities is monitored on an ongoing basis which may include results of back testing, manual price reviews and other control procedures.  Significant increases (decreases) to any of these inputs would result in a significantly lower (higher) fair value measurement.

Other 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 2 to Level 3 due to utilizing a single market quotation from a broker dealer.  As a result, Management concluded that the market input(s) were generally unobservable.

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

Transfers into 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 U.S. Treasury Index Fund

January 31, 2016 (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
01/31/17	0.500%	$	10,305,000	$	10,289,707
02/15/17	0.625%	15,000,000		14,994,135
02/28/17	0.500%	10,870,000		10,851,317
04/15/17	0.875%	3,300,000		3,307,478
04/30/17	0.500%	24,430,000		24,372,742
06/15/17	0.875%	10,245,000		10,267,411
06/30/17	0.625%	2,585,000		2,581,365
07/31/17	0.625%	5,540,000		5,531,344
08/15/17	0.875%	2,145,000		2,149,022
08/31/17	1.875%	8,350,000		8,495,799
10/31/17	1.875%	7,100,000		7,232,571
11/30/17	0.875%	4,820,000		4,828,662
12/31/17	0.750%	13,810,000		13,798,137
02/15/18	1.000%	6,055,000		6,075,814
02/15/18	3.500%	12,600,000		13,278,233
04/15/18	0.750%	15,450,000		15,413,789
05/15/18	1.000%	11,460,000		11,492,226
05/15/18	3.875%	3,850,000		4,114,838
06/30/18	2.375%	5,000,000		5,180,470
07/15/18	0.875%	3,625,000		3,623,867
08/15/18	1.000%	1,820,000		1,824,266
08/31/18	1.500%	14,065,000		14,279,815
09/15/18	1.000%	5,100,000		5,110,159
11/15/18	1.250%	5,435,000		5,479,159
11/30/18	1.250%	2,405,000		2,424,541
12/31/18	1.500%	860,000		872,833
01/15/19	1.125%	1,605,000		1,612,022
03/31/19	1.500%	1,905,000		1,932,682
04/30/19	1.250%	1,270,000		1,277,789
04/30/19	1.625%	8,190,000		8,339,402
05/31/19	1.500%	2,080,000		2,109,250
07/31/19	0.875%	7,325,000		7,265,770
07/31/19	1.625%	14,300,000		14,554,719
08/31/19	1.625%	1,715,000		1,745,548
09/30/19	1.750%	9,095,000		9,293,598
10/31/19	1.500%	11,200,000		11,340,437
11/15/19	3.375%	7,000,000		7,573,125
11/30/19	1.500%	2,210,000		2,236,935
12/31/19	1.625%	2,180,000		2,216,020
01/31/20	1.250%	12,480,000		12,499,993
02/29/20	1.250%	5,640,000		5,645,950
02/29/20	1.375%	2,200,000		2,213,406
03/31/20	1.375%	15,000,000		15,084,375
04/30/20	1.375%	15,000,000		15,077,344
05/31/20	1.500%	2,255,000		2,278,607
06/30/20	1.625%	1,790,000		1,816,850
07/31/20	1.625%	4,895,000		4,968,425
08/15/20	2.625%	4,675,000		4,944,359
08/15/20	8.750%	3,200,000		4,248,000
08/31/20	1.375%	2,655,000		2,665,786
08/31/20	2.125%	2,090,000		2,164,864
09/30/20	1.375%	4,435,000		4,448,859
09/30/20	2.000%	2,400,000		2,473,874
10/31/20	1.375%	6,215,000		6,232,480
10/31/20	1.750%	2,285,000		2,327,220
11/30/20	1.625%	3,105,000		3,149,634
11/30/20	2.000%	5,545,000		5,711,566
12/31/20	1.750%	900,000		917,719

Issuer	Coupon Rate	Principal Amount		Value
U.S. Treasury Obligations (continued)
02/28/21	2.000%	$	1,045,000	$	1,076,228
03/31/21	2.250%	4,450,000		4,638,431
05/15/21	3.125%	3,230,000		3,508,839
07/31/21	2.250%	2,425,000		2,526,736
08/31/21	2.000%	3,400,000		3,495,758
09/30/21	2.125%	3,025,000		3,129,931
11/30/21	1.875%	9,105,000		9,292,436
12/31/21	2.125%	7,150,000		7,392,986
01/31/22	1.500%	5,350,000		5,337,877
02/15/22	2.000%	3,000,000		3,083,319
02/28/22	1.750%	14,550,000		14,717,660
03/31/22	1.750%	2,705,000		2,733,635
04/30/22	1.750%	1,960,000		1,979,294
05/31/22	1.875%	1,780,000		1,810,315
06/30/22	2.125%	1,025,000		1,057,472
07/31/22	2.000%	2,805,000		2,870,853
08/15/22	1.625%	1,725,000		1,726,618
08/31/22	1.875%	2,970,000		3,016,059
09/30/22	1.750%	2,290,000		2,306,101
10/31/22	1.875%	2,925,000		2,967,161
11/30/22	2.000%	2,770,000		2,831,350
12/31/22	2.125%	2,610,000		2,689,219
05/15/23	1.750%	18,520,000		18,572,078
08/15/23	2.500%	5,400,000		5,700,164
11/15/23	2.750%	2,790,000		2,994,455
02/15/24	2.750%	3,830,000		4,104,534
05/15/24	2.500%	3,350,000		3,523,912
08/15/24	2.375%	2,560,000		2,665,101
11/15/24	2.250%	3,725,000		3,836,605
02/15/25	2.000%	4,715,000		4,753,125
05/15/25	2.125%	6,220,000		6,331,767
08/15/25	2.000%	6,080,000		6,118,000
11/15/25	2.250%	6,445,000		6,629,037
02/15/26	6.000%	5,280,000		7,231,536
11/15/28	5.250%	1,875,000		2,529,272
02/15/29	5.250%	2,405,000		3,253,419
05/15/30	6.250%	570,000		853,953
02/15/31	5.375%	510,000		716,530
02/15/39	3.500%	10,080,000		11,693,586
11/15/39	4.375%	2,460,000		3,236,054
05/15/40	4.375%	1,155,000		1,520,359
11/15/40	4.250%	9,500,000		12,291,736
02/15/41	4.750%	1,710,000		2,376,298
05/15/41	4.375%	1,455,000		1,920,997
02/15/43	3.125%	3,670,000		3,957,867
05/15/43	2.875%	3,250,000		3,335,312
08/15/43	3.625%	1,370,000		1,622,380
11/15/43	3.750%	3,150,000		3,814,329
02/15/44	3.625%	3,000,000		3,546,798
05/15/44	3.375%	3,450,000		3,892,300
08/15/44	3.125%	3,540,000		3,808,541
11/15/44	3.000%	13,080,000		13,716,630
02/15/45	2.500%	2,270,000		2,148,165
05/15/45	3.000%	3,975,000		4,165,987
08/15/45	2.875%	4,005,000		4,093,234
11/15/45	3.000%	3,970,000		4,166,483
Total U.S. Treasury Obligations (Cost: $613,379,571)				$	627,545,130

	Shares	Value
Money Market Funds 2.2%
Columbia Short-Term Cash Fund, 0.360% (a)(b)	13,936,420	$	13,936,420
Total Money Market Funds (Cost: $13,936,420)		$	13,936,420
Total Investments
(Cost: $627,315,991) (c)		$	641,481,550(d)
Other Assets & Liabilities, Net		(9,944,468)
Net Assets		$	631,537,082

Notes to Portfolio of Investments

(a)	The rate shown is the seven-day current annualized yield at January 31, 2016.
(b)	As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. Holdings and transactions in these affiliated companies during the period ended January 31, 2016 are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds From Sales ($)		Ending Cost ($)	Dividends — Affiliated Issuers ($)	Value ($)
Columbia Short-Term Cash Fund	1,032,087	57,018,949	(44,114,616	)	13,936,420	1,249	13,936,420

(c) At January 31, 2016, the cost of securities for federal income tax purposes was approximately $627,316,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	14,173,000
Unrealized Depreciation	(7,000		)
Net Unrealized Appreciation	$	14,166,000

(d) Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Fair Value Measurements

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

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

·Level 1 - Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date (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 overseeing 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 January 31, 2016:

	Level 1 Quoted Prices in Active Markets for Identical Assets ($)	Level 2 Other Significant Observable Inputs ($)	Level 3 Significant Unobservable Inputs ($)	Total ($)
Investments
U.S. Treasury Obligations	627,545,130	—	—	627,545,130
Money Market Funds	—	13,936,420	—	13,936,420
Total Investments	627,545,130	13,936,420	—	641,481,550

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 valued based upon utilizing observable market inputs, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets and/or fund per share market values which are not considered publicly available.

Financial assets were transferred from Level 1 to Level 2 as the market for these assets is not considered publicly available. Fund per share market values were obtained using observable market inputs.

The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:

Transfers In		Transfers Out
Level 1 ($)	Level 2 ($)	Level 1 ($)	Level 2 ($)
—	1,032,087	1,032,087	—

Transfers between Level 1 and Level 2 are determined based on the fair value at the beginning of the period for security positions held throughout the period.

There were no transfers of financial assets between Levels 2 and 3 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/ Christopher O. Petersen
	Christopher O. Petersen, President and Principal Executive Officer
Date	March 23, 2016

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/ Christopher O. Petersen
	Christopher O. Petersen, President and Principal Executive Officer
Date	March 23, 2016
By (Signature and Title)	/s/ Michael G. Clarke
	Michael G. Clarke, Treasurer and Chief Financial Officer
Date	March 23, 2016