N-Q

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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:	January 31
Date of reporting period:		October 31, 2016

Item 1. Schedule of Investments.

Portfolio of Investments

Columbia Diversified Real Return Fund

October 31, 2016 (Unaudited)

(Percentages represent value of investments compared to net assets)

	Shares	Value
Fixed-Income Funds 57.9%
Floating Rate 28.2%
Columbia Floating Rate Fund, Class I Shares (a)	34,194	$	307,402
High Yield 5.1%
Columbia High Yield Bond Fund, Class I Shares (a)	9,362	27,244
Columbia Income Opportunities Fund, Class I Shares (a)	2,909	28,511
Total		363,157
Inflation Protected Securities 24.6%
Columbia Inflation Protected Securities Fund, Class I Shares (a)(b)	28,416	268,534
Total Fixed-Income Funds (Cost: $599,376)		$	631,691
Alternative Investment Funds 18.5%
Columbia Commodity Strategy Fund, Class I Shares (a)(b)	36,882	201,744
Total Alternative Investment Funds (Cost: $173,714)		$	201,744
Exchange-Traded Funds 3.3%
VanEck Vectors Gold Miners ETF	350	8,582
iShares MSCI Australia ETF	250	5,070
iShares MSCI Brazil Capped ETF	300	11,328
iShares U.S. Energy ETF	300	11,286
Total Exchange-Traded Funds (Cost: $28,501)		$	36,266

Issuer	Coupon Rate	Principal Amount	Value
Corporate Bonds & Notes 3.0%
Metals 2.5%
Arconic, Inc.
02/01/37	5.950%	5,000	$	4,911
Freeport-McMoRan, Inc.
03/15/23	3.875%	5,000	4,513
Kinross Gold Corp.
03/15/24	5.950%	5,000	5,250
Teck Resources Ltd.
02/01/43	5.400%	10,000	9,025
Vale SA
09/11/42	5.625%	5,000	4,347
Total			28,046

Issuer	Coupon Rate	Principal Amount			Value
Corporate Bonds & Notes (continued)
Midstream 0.5%
Kinder Morgan Energy Partners LP
05/01/24	4.300%	$	5,000		$	5,168
Total Corporate Bonds & Notes (Cost: $31,162)					$	33,214
Inflation-Indexed Bonds(c) 2.1%
Italy 0.7%
Italy Buoni Poliennali Del Tesoro (d)
09/15/41	2.550%	EUR		5,429	7,392
United States 1.4%
U.S. Treasury Inflation-Indexed Bond
02/15/42	0.750%	15,989			16,088
Total Inflation-Indexed Bonds (Cost: $22,258)					$	23,480
Foreign Government Obligations 1.1%
Brazil 0.6%
Brazilian Government International Bond
01/20/34	8.250%	5,000			6,275
Turkey 0.5%
Turkey Government International Bond
03/17/36	6.875%	5,000			5,685
Total Foreign Government Obligations (Cost: $10,210)					$	11,960
		Shares			Value
Money Market Funds 16.1%
Columbia Short-Term Cash Fund, 0.463% (a)(e)		175,443			$	175,443
Total Money Market Funds (Cost: $175,443)					$	175,443
Total Investments
(Cost: $1,040,664) (f)					$	1,113,798(g)
Other Assets & Liabilities, Net					(22,109)
Net Assets					$	1,091,689

At October 31, 2016, cash totaling $2,484 was pledged as collateral.

Investments in Derivatives

Cleared Interest Rate Swap Contracts Outstanding at October 31, 2016

Counterparty	Fund Receives	Fund Pays	Expiration Date	Notional Currency	Notional Amount	Unrealized Appreciation ($)	Unrealized Depreciation ($)
Morgan Stanley International	Fixed rate of 1.991%	6-Month GBP LIBOR-BBA	05/14/2019	GBP	250,000	12,000	—

Notes to Portfolio of Investments

(a) 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 October 31, 2016 are as follows:

Issuer	Beginning Cost ($)	Purchase Cost ($)	Proceeds from Sales ($)	Realized Gain (Loss) ($)	Ending Cost ($)	Dividends - Affiliated Issuers ($)	Value ($)
Columbia Commodity Strategy Fund, Class I Shares	742,162	—	(700,000)	131,552	173,714	—	201,744
Columbia Floating Rate Fund, Class I Shares	1,278,591	24,128	(950,000)	(45,187)	307,532	24,129	307,402
Columbia High Yield Bond Fund, Class I Shares	140,477	3,003	(110,000)	(6,154)	27,326	3,002	27,244
Columbia Income Opportunities Fund, Class I Shares	116,345	2,581	(85,000)	(5,130)	28,796	2,581	28,511
Columbia Inflation Protected Securities Fund, Class I Shares	1,089,388	—	(917,500)	63,834	235,722	—	268,534
Columbia Short-Term Cash Fund	10,608	3,816,685	(3,651,850)	—	175,443	407	175,443
Total	3,377,571	3,846,397	(6,414,350)	138,915	948,533	30,119	1,008,878

(b)	Non-income producing investment.
(c)	Principal amounts are denominated in United States Dollars unless otherwise noted.
(d)	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 October 31, 2016, the value of these securities amounted to $7,392 or 0.68% of net assets.
(e)	The rate shown is the seven-day current annualized yield at October 31, 2016.
(f)	At October 31, 2016, the cost of securities for federal income tax purposes was approximately $1,041,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:

Unrealized Appreciation	$	75,000
Unrealized Depreciation	(2,000		)
Net Unrealized Appreciation	$	73,000

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

Currency Legend

EUR	Euro
GBP	British Pound

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.

Certain investments that have been measured at fair value using the net asset value (NAV) per share (or its equivalent) are not categorized in the fair value hierarchy.  The fair value amounts presented in the table are intended to reconcile the fair value hierarchy to the amounts presented in the Portfolio of Investments. The Columbia Short-Term Cash Fund seeks to provide shareholders with maximum current income consistent with liquidity and stability of principal.  Columbia Short-Term Cash Fund prices its shares with a floating NAV and no longer seeks to maintain a stable NAV.

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 October 31, 2016:

	Level 1Quoted Prices in Active Markets for Identical Assets ($)	Level 2Other Significant Observable Inputs ($)	Level 3Significant Unobservable Inputs ($)	Total ($)
Investments
Fixed-Income Funds	631,691	—	—	631,691
Alternative Investment Funds	201,744	—	—	201,744
Exchange-Traded Funds	36,266	—	—	36,266
Corporate Bonds & Notes	—	33,214	—	33,214
Inflation-Indexed Bonds	—	23,480	—	23,480
Foreign Government Obligations	—	11,960	—	11,960
Investments measured at net asset value
Money Market Funds	—	—	—	175,443
Total Investments	869,701	68,654	—	1,113,798
Derivatives
Assets
Swap Contracts	—	12,000	—	12,000
Total	869,701	80,654	—	1,125,798

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.

Derivative instruments are valued at unrealized appreciation (depreciation).

There were no transfers of financial assets between levels 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		December 21, 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		December 21, 2016
By (Signature and Title)		/s/ Michael G. Clarke
		Michael G. Clarke, Treasurer and Chief Financial Officer
Date		December 21, 2016

EX-99.CERT

Exhibit 99.CERT

I, Michael G. Clarke, certify that:

1.I have reviewed this report on Form N-Q of Columbia Funds Series Trust I;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:December 21, 2016	/s/ Michael G. Clarke
	Michael G. Clarke, Treasurer and Chief Financial Officer

I, Christopher O. Petersen, certify that:

1.I have reviewed this report on Form N-Q of Columbia Funds Series Trust I;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:December 21, 2016	/s/ Christopher O. Petersen
	Christopher O. Petersen, President and Principal Executive Officer