CFST, CFST I and CFST II

STATEMENT OF ADDITIONAL INFORMATION

December 1, 2024

Columbia Funds Series Trust

Columbia California Intermediate Municipal Bond Fund
Class A: NACMX	Class Inst: NCMAX	Class Inst2: CNBRX
Class Inst3: CCBYX	Class S: NCMDX
Columbia Capital Allocation Moderate Aggressive Portfolio
Class A: NBIAX	Class C: NBICX	Class Inst: NBGPX
Class Inst3: CPHNX	Class R: CLBRX	Class S: NBGDX
Columbia Capital Allocation Moderate Conservative Portfolio
Class A: NLGAX	Class C: NIICX	Class Inst: NIPAX
Class R: CLIRX
Columbia Convertible Securities Fund
Class A: PACIX	Class C: PHIKX	Class Inst: NCIAX
Class Inst2: COCRX	Class Inst3: CSFYX	Class S: NCIDX
Columbia Large Cap Enhanced Core Fund
Class A: NMIAX	Class Inst: NMIMX	Class Inst3: CECYX
Class R: CCERX	Class S: NMIDX
Columbia Large Cap Growth Opportunity Fund
Class A: NFEAX	Class Inst: NFEPX	Class Inst2: CADRX
Class Inst3: CLRYX	Class R: CLGPX	Class S: NFEDX
Columbia Large Cap Index Fund
Class A: NEIAX	Class Inst: NINDX	Class Inst2: CLXRX
Class Inst3: CLPYX
Columbia Mid Cap Index Fund
Class A: NTIAX	Class Inst: NMPAX	Class Inst2: CPXRX
Class Inst3: CMDYX

Columbia Overseas Value Fund
Class A: COAVX	Class C: COCVX	Class Inst: COSZX
Class Inst2: COSSX	Class Inst3: COSYX	Class R: COVUX
Class S: COSBX
Columbia Select Large Cap Equity Fund
Class A: NSGAX	Class C: NSGCX	Class Inst: NSEPX
Class Inst2: CLCRX	Class Inst3: CLEYX	Class R§: —
Class S: NSEAX
Columbia Select Mid Cap Value Fund
Class A: CMUAX	Class C: CMUCX	Class Inst: NAMAX
Class Inst2: CVERX	Class Inst3: CMVYX	Class R: CMVRX
Class S: NAMBX
Columbia Short Duration Municipal Bond Fund
Class A: NSMMX	Class Inst: NSMIX	Class Inst2: CNNRX
Class Inst3: CSMYX	Class S: NSMDX
Columbia Short Term Bond Fund
Class A: NSTRX	Class C: NSTIX	Class Inst: NSTMX
Class Inst2: CCBRX	Class Inst3: CSBYX	Class S: NSTDX
Columbia Small Cap Index Fund
Class A: NMSAX	Class Inst: NMSCX	Class Inst2: CXXRX
Class Inst3: CSPYX
Columbia Small Cap Value Fund II
Class A: COVAX	Class Inst: NSVAX	Class Inst2: CRRRX
Class Inst3: CRRYX	Class R: CCTRX	Class S: NSVBX

Columbia Funds Series Trust I

Columbia Adaptive Risk Allocation Fund
Class A: CRAAX	Class C: CRACX	Class Inst: CRAZX
Class Inst2: CRDRX	Class Inst3: CARYX	Class S: CRADX
Columbia Balanced Fund
Class A: CBLAX	Class C: CBLCX	Class Inst: CBALX
Class Inst2: CLREX	Class Inst3: CBDYX	Class R: CBLRX
Class S: CBABX
Columbia Bond Fund
Class A: CNDAX	Class Inst: UMMGX	Class Inst2: CNFRX
Class Inst3: CBFYX	Class S: UMMDX
Columbia Contrarian Core Fund
Class A: LCCAX	Class C: LCCCX	Class Inst: SMGIX
Class Inst2: COFRX	Class Inst3: COFYX	Class R: CCCRX
Class S: SMGEX
Columbia Corporate Income Fund
Class A: LIIAX	Class Inst: SRINX	Class Inst2: CPIRX
Class Inst3: CRIYX	Class S: SRIJX
Columbia Dividend Income Fund
Class A: LBSAX	Class C: LBSCX	Class Inst: GSFTX
Class Inst2: CDDRX	Class Inst3: CDDYX	Class R: CDIRX
Class S: GFSDX
Columbia Emerging Markets Fund
Class A: EEMAX	Class C: EEMCX	Class Inst: UMEMX
Class Inst2: CEKRX	Class Inst3: CEKYX	Class S: UMEBX
Columbia Global Technology Growth Fund
Class A: CTCAX	Class C: CTHCX	Class Inst: CMTFX
Class Inst2: CTHRX	Class Inst3: CGTUX	Class S: CGTDX
Columbia Greater China Fund
Class A: NGCAX	Class Inst: LNGZX	Class Inst3: CGCYX
Columbia High Yield Municipal Fund
Class A: LHIAX	Class C: CHMCX	Class Inst: SRHMX
Class Inst2: CHMYX	Class Inst3: CHHYX	Class S: SRHDX

Columbia Intermediate Duration Municipal Bond Fund
Class A: LITAX	Class C: LITCX	Class Inst: SETMX
Class Inst2: CTMRX	Class Inst3: CIMYX	Class S: SETDX
Columbia International Dividend Income Fund
Class A: CSVAX	Class Inst: CSVFX	Class Inst2: CADPX
Class Inst3: CLSYX	Class S: CSVEX
Columbia Large Cap Growth Fund
Class A: LEGAX	Class C: LEGCX	Class E: CLGEX
Class Inst: GEGTX	Class Inst2: CLWFX	Class Inst3: CGFYX
Class R: CGWRX	Class S: GEGDX
Columbia Massachusetts Intermediate Municipal Bond Fund
Class A: LMIAX	Class Inst: SEMAX	Class Inst3: CMMYX
Columbia Multi Strategy Alternatives Fund
Class A: CLAAX	Class C: CLABX	Class Inst: CLAZX
Columbia New York Intermediate Municipal Bond Fund
Class A: LNYAX	Class Inst: GNYTX	Class Inst2: CNYUX
Class Inst3: CNYYX
Columbia Oregon Intermediate Municipal Bond Fund
Class A: COEAX	Class Inst: CMBFX	Class Inst2: CODRX
Class Inst3: CORYX	Class S: CMBCX
Columbia Real Estate Equity Fund
Class A: CREAX	Class Inst: CREEX	Class Inst2: CRRVX
Class Inst3: CREYX	Class S: CREHX
Columbia Select Large Cap Growth Fund
Class A: ELGAX	Class Inst: UMLGX	Class Inst2: CGTRX
Class Inst3: CCWRX	Class R: URLGX	Class S: UMLAX
Columbia Select Mid Cap Growth Fund
Class A: CBSAX	Class C: CMCCX	Class Inst: CLSPX
Class Inst2: CMGVX	Class Inst3: CMGYX	Class S: CLSDX

Columbia Small Cap Growth Fund
Class A: CGOAX	Class C: CGOCX	Class Inst: CMSCX
Class Inst2: CSCRX	Class Inst3: CSGYX	Class R: CCRIX
Class S: CMSHX
Columbia Small Cap Value Fund I
Class A: CSMIX	Class C: CSSCX	Class Inst: CSCZX
Class Inst2: CUURX	Class Inst3: CSVYX	Class R: CSVRX
Class S: CSCQX
Columbia Strategic California Municipal Income Fund
Class A: CLMPX	Class C: CCAOX	Class Inst: CCAZX
Class Inst2: CCAUX	Class Inst3: CCXYX
Columbia Strategic Income Fund
Class A: COSIX	Class C: CLSCX	Class Inst: LSIZX
Class Inst2: CTIVX	Class Inst3: CPHUX	Class R: CSNRX
Class S: LSIDX
Columbia Strategic New York Municipal Income Fund
Class A: COLNX	Class C: CNYCX	Class Inst: CNYZX
Class Inst2: CNYRX	Class Inst3: CNTYX
Columbia Tax-Exempt Fund
Class A: COLTX	Class C: COLCX	Class Inst: CTEZX
Class Inst2: CADMX	Class Inst3: CTEYX	Class S: CTEDX
Columbia Total Return Bond Fund
Class A: LIBAX	Class C: LIBCX	Class Inst: SRBFX
Class Inst2: CTBRX	Class Inst3: CTBYX	Class R: CIBRX
Class S: SRBAX

Columbia U.S. Treasury Index Fund
Class A: LUTAX	Class Inst: IUTIX	Class Inst2: CUTRX
Class Inst3: CUTYX
Columbia Ultra Short Term Bond Fund
Class A: CUSOX	Class Inst: CUSBX	Class Inst3: CMGUX
Multi-Manager Alternative Strategies Fund
Class Inst: CZAMX
Multi-Manager Directional Alternative Strategies Fund
Class Inst: CDAZX
Multi-Manager Growth Strategies Fund
Class Inst: CZMGX
Multi-Manager International Equity Strategies Fund
Class Inst: CMIEX
Multi-Manager Small Cap Equity Strategies Fund
Class Inst: CZMSX
Multi-Manager Total Return Bond Strategies Fund
Class Inst: CTRZX
Multisector Bond SMA Completion Portfolio
MBSAX
Overseas SMA Completion Portfolio
OSCBX

Columbia Funds Series Trust II

Columbia Capital Allocation Aggressive Portfolio
Class A: AXBAX	Class C: RBGCX	Class Inst: CPAZX
Class Inst3: CPDIX	Class R: CPARX
Columbia Capital Allocation Conservative Portfolio
Class A: ABDAX	Class C: RPCCX	Class Inst: CBVZX
Columbia Capital Allocation Moderate Portfolio
Class A: ABUAX	Class C: AMTCX	Class Inst: CBMZX
Class Inst3: CPDMX
Columbia Commodity Strategy Fund
Class A: CCSAX	Class Inst: CCSZX	Class Inst2: CADLX
Class Inst3: CCFYX
Columbia Disciplined Core Fund
Class A: AQEAX	Class C: RDCEX	Class Inst: CCRZX
Class Inst2: RSIPX	Class Inst3: CCQYX
Columbia Disciplined Growth Fund
Class A: RDLAX	Class C: RDLCX	Class Inst: CLQZX
Class Inst3: CGQYX
Columbia Disciplined Value Fund
Class A: RLCAX	Class C: RDCCX	Class Inst: CVQZX
Columbia Dividend Opportunity Fund
Class A: INUTX	Class C: ACUIX	Class Inst: CDOZX
Class Inst2: RSDFX	Class Inst3: CDOYX	Class R: RSOOX
Class S: CDOAX
Columbia Emerging Markets Bond Fund
Class A: REBAX	Class Inst: CMBZX	Class Inst2: CEBRX
Class Inst3: CEBYX	Class R: CMBRX
Columbia Flexible Capital Income Fund
Class A: CFIAX	Class C: CFIGX	Class Inst: CFIZX
Class Inst2: CFXRX	Class Inst3: CFCYX	Class S: CFILX
Columbia Floating Rate Fund
Class A: RFRAX	Class C: RFRCX	Class Inst: CFRZX
Class Inst2: RFRFX	Class Inst3: CFRYX
Columbia Global Opportunities Fund
Class A: IMRFX	Class Inst: CSAZX
Columbia Global Value Fund
Class A: IEVAX	Class C: REVCX	Class Inst: CEVZX
Class Inst2: RSEYX	Class Inst3: CEVYX	Class R: REVRX
Class S: CEVAX
Columbia Government Money Market Fund
Class A: IDSXX	Class Inst: IDYXX	Class Inst2: CMRXX
Class Inst3: CGMXX

Columbia High Yield Bond Fund
Class A: INEAX	Class C: APECX	Class Inst: CHYZX
Class Inst2: RSHRX	Class Inst3: CHYYX	Class R: CHBRX
Class S: CHYEX
Columbia Income Builder Fund
Class A: RBBAX	Class C: RBBCX	Class Inst: CBUZX
Class Inst2: CKKRX	Class Inst3: CIBYX	Class R: CBURX
Columbia Income Opportunities Fund
Class A: AIOAX	Class C: RIOCX	Class Inst: CIOZX
Class Inst2: CEPRX	Class Inst3: CIOYX	Class S: CIODX
Columbia Large Cap Value Fund
Class A: INDZX	Class C: ADECX	Class Inst: CDVZX
Class Inst2: RSEDX	Class Inst3: CDEYX
Columbia Limited Duration Credit Fund
Class A: ALDAX	Class C: RDCLX	Class Inst: CLDZX
Class Inst2: CTLRX	Class Inst3: CLDYX
Columbia Minnesota Tax-Exempt Fund
Class A: IMNTX	Class C: RMTCX	Class Inst: CMNZX
Class Inst2: CADOX	Class Inst3: CMNYX
Columbia Mortgage Opportunities Fund
Class A: CLMAX	Class C: CLMCX	Class Inst: CLMZX
Class Inst2: CLMVX	Class Inst3: CMOYX	Class S: CLMDX
Columbia Overseas Core Fund
Class A: COSAX	Class Inst: COSNX	Class Inst2: COSTX
Class Inst3: COSOX	Class R: COSRX
Columbia Quality Income Fund
Class A: AUGAX	Class C: AUGCX	Class Inst: CUGZX
Class Inst2: CGVRX	Class Inst3: CUGYX
Columbia Select Global Equity Fund
Class A: IGLGX	Class C: RGCEX	Class Inst: CGEZX
Class Inst2: RGERX	Class Inst3: CSEYX
Columbia Select Large Cap Value Fund
Class A: SLVAX	Class C: SVLCX	Class Inst: CSVZX
Class Inst2: SLVIX	Class Inst3: CSRYX	Class R: SLVRX
Class S: CSVGX
Columbia Select Small Cap Value Fund
Class A: SSCVX	Class Inst: CSSZX	Class Inst2: SSVIX
Class Inst3: CSSYX
Columbia Seligman Global Technology Fund
Class A: SHGTX	Class C: SHTCX	Class Inst: CSGZX
Class Inst2: SGTTX	Class Inst3: CGTYX	Class R: SGTRX
Class S: CSGAX

Columbia Seligman Technology and Information Fund
Class A: SLMCX	Class C: SCICX	Class Inst: CCIZX
Class Inst2: SCMIX	Class Inst3: CCOYX	Class R: SCIRX
Class S: CCIFX
Columbia Strategic Municipal Income Fund
Class A: INTAX	Class C: RTCEX	Class Inst: CATZX
Class Inst2: CADNX	Class Inst3: CATYX	Class S: CATSX

Multi-Manager Value Strategies Fund
Class Inst: CZMVX

This share class is not currently available for purchase.

Certain share classes in the table above, and throughout this SAI, are referred to using their abbreviated form. These full share class names are as follows: Institutional Class (Class Inst); Institutional 2 Class (Class Inst2); and Institutional 3 Class (Class Inst3).

Unless the context indicates otherwise, references herein to “each Fund,” “the Fund,” “a Fund,” “the Funds” or “Funds” refer to each Fund named above.

This Statement of Additional Information (SAI) is not a prospectus, is not a substitute for reading any prospectus and is intended to be read in conjunction with each Fund’s current prospectus (as amended or supplemented), the date of which may be found in the section of this SAI entitled About the Trusts. The most recent annual Form N-CSR for each Fund identified in the table below (as applicable), which includes the Fund’s audited financial statements for its most recent fiscal period, and where identified in the table below, the most recent semiannual Form N-CSR, are incorporated herein by reference.

Copies of the Funds’ current prospectuses, annual and semiannual reports, and Forms N-CSR (once available, as applicable) may be obtained without charge by writing Columbia Management Investment Services Corp., P.O. Box 219104, Kansas City, MO 64121-9104, by calling Columbia Funds at 800.345.6611 or by visiting the Columbia Funds’ website at columbiathreadneedleus.com.

Shareholder Reports

Trust, Fund Name and Fiscal Year End:
January 31
Columbia Funds Series Trust Columbia Capital Allocation Moderate Aggressive Portfolio Columbia Capital Allocation Moderate Conservative Portfolio	Form N-CSR
Columbia Funds Series Trust II Columbia Capital Allocation Aggressive Portfolio Columbia Capital Allocation Conservative Portfolio Columbia Capital Allocation Moderate Portfolio Columbia Income Builder Fund	Form N-CSR
February 28/29
Columbia Funds Series Trust Columbia Convertible Securities Fund Columbia Large Cap Enhanced Core Fund Columbia Large Cap Growth Opportunity Fund Columbia Large Cap Index Fund Columbia Mid Cap Index Fund Columbia Overseas Value Fund Columbia Select Large Cap Equity Fund Columbia Select Mid Cap Value Fund Columbia Small Cap Index Fund Columbia Small Cap Value Fund II	Form N-CSR
Columbia Funds Series Trust II Columbia Global Value Fund Columbia Overseas Core Fund	Form N-CSR
March 31
Columbia Funds Series Trust Columbia Short Term Bond Fund	Form N-CSR
Columbia Funds Series Trust I Columbia Select Large Cap Growth Fund Multi-Manager Growth Strategies Fund	Form N-CSR

Trust, Fund Name and Fiscal Year End:
April 30
Columbia Funds Series Trust Columbia California Intermediate Municipal Bond Fund Columbia Short Duration Municipal Bond Fund	Form N-CSR
Columbia Funds Series Trust I Columbia Bond Fund Columbia Corporate Income Fund Columbia Small Cap Value Fund I Columbia Total Return Bond Fund Columbia U.S. Treasury Index Fund Multi-Manager Directional Alternative Strategies Fund	Form N-CSR
May 31
Columbia Funds Series Trust I
Columbia Adaptive Risk Allocation Fund	Form N-CSR
Columbia Dividend Income Fund	Form N-CSR
Columbia High Yield Municipal Fund	Form N-CSR
Columbia Multi Strategy Alternatives Fund	Form N-CSR
Columbia Funds Series Trust II
Columbia Commodity Strategy Fund	Form N-CSR
Columbia Dividend Opportunity Fund	Form N-CSR
Columbia Flexible Capital Income Fund	Form N-CSR
Columbia High Yield Bond Fund	Form N-CSR
Columbia Large Cap Value Fund	Form N-CSR
Columbia Mortgage Opportunities Fund	Form N-CSR
Columbia Quality Income Fund	Form N-CSR
Columbia Select Large Cap Value Fund	Form N-CSR
Columbia Select Small Cap Value Fund	Form N-CSR
Columbia Seligman Technology and Information Fund	Form N-CSR
Multi-Manager Value Strategies Fund	Form N-CSR
July 31
Columbia Funds Series Trust I
Columbia Large Cap Growth Fund	Form N-CSR
Columbia Oregon Intermediate Municipal Bond Fund	Form N-CSR
Columbia Tax-Exempt Fund	Form N-CSR
Columbia Ultra Short Term Bond Fund	Form N-CSR
Columbia Funds Series Trust II
Columbia Disciplined Core Fund	Form N-CSR
Columbia Disciplined Growth Fund	Form N-CSR
Columbia Disciplined Value Fund	Form N-CSR
Columbia Floating Rate Fund	Form N-CSR
Columbia Global Opportunities Fund	Form N-CSR
Columbia Government Money Market Fund	Form N-CSR
Columbia Income Opportunities Fund	Form N-CSR
Columbia Limited Duration Credit Fund	Form N-CSR
Columbia Minnesota Tax-Exempt Fund	Form N-CSR
Columbia Strategic Municipal Income Fund	Form N-CSR

Trust, Fund Name and Fiscal Year End:
August 31
Columbia Funds Series Trust I Columbia Balanced Fund Columbia Contrarian Core Fund Columbia Emerging Markets Fund Columbia Global Technology Growth Fund Columbia Greater China Fund Columbia International Dividend Income Fund Columbia Select Mid Cap Growth Fund Columbia Small Cap Growth Fund Columbia Strategic Income Fund Multi-Manager Alternative Strategies Fund Multi-Manager International Equity Strategies Fund Multi-Manager Small Cap Equity Strategies Fund Multi-Manager Total Return Bond Fund Multisector Bond SMA Completion Portfolio Overseas SMA Completion Portfolio	Form N-CSR
Columbia Balanced Fund Columbia Contrarian Core Fund Columbia Emerging Markets Fund Columbia Global Technology Growth Fund Columbia International Dividend Income Fund Columbia Select Mid Cap Growth Fund Columbia Small Cap Growth Fund Columbia Strategic Income Fund	Semiannual Form N-CSR
Columbia Funds Series Trust II Columbia Emerging Markets Bond Fund	Form N-CSR
October 31
Columbia Funds Series Trust I Columbia Intermediate Duration Municipal Bond Fund Columbia Massachusetts Intermediate Municipal Bond Fund Columbia New York Intermediate Municipal Bond Fund Columbia Strategic California Municipal Income Fund Columbia Strategic New York Municipal Income Fund	Form N-CSR
Columbia Intermediate Duration Municipal Bond Fund	Semiannual Form N-CSR
Columbia Funds Series Trust II Columbia Select Global Equity Fund Columbia Seligman Global Technology Fund	Form N-CSR
Columbia Seligman Global Technology Fund	Semiannual Form N-CSR
December 31
Columbia Funds Series Trust I Columbia Real Estate Equity Fund	Form N-CSR

SAI PRIMER

The SAI is a part of the Funds’ registration statement that is filed with the SEC. The registration statement includes the Funds’ prospectuses, the SAI and certain exhibits. The SAI, as supplemented from time to time, can be found online at columbiathreadneedleus.com and/or by accessing the SEC’s website at www.sec.gov.

For purposes of any electronic version of this SAI, all references to websites or universal resource locators (URLs) are intended to be inactive and are not meant to incorporate the contents of any such website or URL into this SAI, with the exception of the most recent Form N-CSR for each Fund, as noted on the front cover of this SAI.

The SAI generally provides additional information about the Funds that is not required to be in the Funds’ prospectuses. The SAI expands discussions of certain matters described in the Funds’ prospectuses and provides certain additional information about the Funds that may be of help or interest to some investors. Among other things, the SAI provides information about:

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the organization of each Trust (of which the Funds are series);

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the Funds’ investments;

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the Funds’ investment adviser, investment subadviser(s) (if any) and other service providers, including roles and relationships of Ameriprise Financial and its affiliates, and conflicts of interest;

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the governance of the Funds;

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the Funds’ brokerage practices;

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the share classes offered by the Funds;

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the purchase, redemption and pricing of Fund shares; and

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the application of U.S. federal income tax laws.

If you have any questions about the Funds, please call Columbia Funds at 800.345.6611 or contact your financial advisor.

Throughout this SAI, the term “financial intermediary” may refer, generally, to one or more of the selling agents and/or servicing agents that are authorized to sell and/or service shares of the Funds, which may include broker-dealers and financial advisors as well as firms that employ such broker-dealers and financial advisors, including, for example, brokerage firms, banks, investment advisers, third party administrators and other financial intermediaries.

Each Fund typically updates its registration statement approximately four months after the end of its fiscal year, although in certain circumstances a Fund may update its registration statement sooner. Some of the information in this SAI is reported for a Fund as of the end of the Fund’s last fiscal year (or period) or during the Fund’s last fiscal year (or period). This is a reference to the fiscal year (or period) ending prior to the Fund’s last annual update, which may be fifteen months or more prior to the date of the SAI. See About the Trusts for each Fund’s fiscal year end and most recent prospectus date (i.e., the date of the Fund’s last annual update).

Before reading the SAI, you should consult the prospectus for the Fund as well as the Glossary below, which defines certain of the terms used in the SAI. Capitalized terms used in this SAI and not otherwise defined have the meanings given them in a Fund’s prospectus and any related prospectus supplements.

Glossary

1933 Act	Securities Act of 1933, as amended
1934 Act	Securities Exchange Act of 1934, as amended
1940 Act	Investment Company Act of 1940, as amended
Allspring	Allspring Global Investments, LLC
AlphaSimplex	AlphaSimplex Group, LLC
Ameriprise Financial	Ameriprise Financial, Inc.
AQR	AQR Capital Management, LLC
Arrowstreet	Arrowstreet Capital, Limited Partnership
Baillie Gifford	Baillie Gifford Overseas Limited
Bank of America	Bank of America Corporation
Board	A Trust’s Board of Trustees
Boston Partners	Boston Partners Global Investors, Inc.

Statement of Additional Information – December 1, 2024

Business Day	Any day on which the NYSE is open for business. A business day typically ends at the close of regular trading on the NYSE, usually at 4:00 p.m. Eastern time. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE’s scheduled close. The Fund will not treat an intraday unscheduled disruption in NYSE trading or an intraday unscheduled closing as a close of regular trading on the NYSE for these purposes and will price its shares as of the regularly scheduled closing time for that day (typically, 4:00 p.m. Eastern time). Notwithstanding the foregoing, the NAV of Fund shares may be determined at such other time or times (in addition to or in lieu of the time set forth above) as the Fund’s Board may approve or ratify. On holidays and other days when the NYSE is closed, the Fund's NAV is not calculated and the Fund does not accept buy or sell orders. However, the value of the Fund's assets may still be affected on such days to the extent that the Fund holds foreign securities that trade on days that foreign securities markets are open.
Capital Allocation Portfolios	Collectively, Columbia Capital Allocation Aggressive Portfolio, Columbia Capital Allocation Conservative Portfolio, Columbia Capital Allocation Moderate Aggressive Portfolio, Columbia Capital Allocation Moderate Conservative Portfolio and Columbia Capital Allocation Moderate Portfolio
Causeway	Causeway Capital Management LLC
CEA	Commodity Exchange Act
CFST	Columbia Funds Series Trust
CFST I	Columbia Funds Series Trust I
CFST II	Columbia Funds Series Trust II
CFTC	The United States Commodity Futures Trading Commission
Code	Internal Revenue Code of 1986, as amended
Codes of Ethics	The codes of ethics adopted by the Funds, Columbia Management Investment Advisers, LLC (the Investment Manager), Columbia Management Investment Distributors, Inc. and/or any sub-adviser, as applicable, pursuant to Rule 17j-1 under the 1940 Act
Columbia Funds or Columbia Funds Complex	The fund complex, including the Funds, that is comprised of the registered investment companies, including traditional mutual funds, closed-end funds, and ETFs, advised by the Investment Manager or its affiliates
Columbia Management	Columbia Management Investment Advisers, LLC
Columbia Threadneedle Investments	The global brand name of the Columbia and Threadneedle group of companies
Conestoga	Conestoga Capital Advisors, LLC
Crabel	Crabel Capital Management, LLC
Custodian	JPMorgan Chase Bank, N.A.
DBRS	Morningstar DBRS
DFA	Dimensional Fund Advisors LP
Diamond Hill	Diamond Hill Capital Management, Inc.
Distribution Agreement	The Distribution Agreement between a Trust, on behalf of its Funds, and the Distributor
Distribution Plan(s)	One or more of the plans adopted by the Board pursuant to Rule 12b-1 under the 1940 Act for the distribution of the Funds’ shares
Distributor	Columbia Management Investment Distributors, Inc.
FDIC	Federal Deposit Insurance Corporation
FHLMC	The Federal Home Loan Mortgage Corporation
Fitch	Fitch Ratings, Inc.
FNMA	Federal National Mortgage Association
The Fund(s) or a Fund	One or more of the open-end management investment companies listed on the front cover of this SAI

Statement of Additional Information – December 1, 2024

GICS	The Global Industry Classification Standard (GICS®). GICS was developed by and/or is the exclusive property of MSCI, Inc. (MSCI®) and S&P Global Market Intelligence Inc. (S&P Global Market Intelligence). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by the Investment Manager. Neither GICS, MSCI, nor S&P Global Market Intelligence are affiliated with the Funds, the Investment Manager or any Columbia entity.
GNMA	Government National Mortgage Association
Hotchkis & Wiley	Hotchkis & Wiley Capital Management, LLC
Independent Trustees	The Trustees of the Board who are not “interested persons” (as defined in the 1940 Act) of the Funds
Interested Trustee	A Trustee of the Board who is currently deemed to be an “interested person” (as defined in the 1940 Act) of the Funds
Investment Manager	Columbia Management Investment Advisers, LLC
IRS	United States Internal Revenue Service
Jacobs Levy	Jacobs Levy Equity Management, Inc.
JPMIM	J.P. Morgan Investment Management Inc.
JPMorgan	JPMorgan Chase Bank, N.A., the Funds’ custodian
KBRA	Kroll Bond Rating Agency
LIBOR	London Inter-bank Offered Rate
Loomis Sayles	Loomis, Sayles & Company, L.P.
Los Angeles Capital	Los Angeles Capital Management LLC
Management Agreement	The Management Agreements, as amended, if applicable, between a Trust, on behalf of the Funds, and the Investment Manager
Manulife	Manulife Investment Management (US) LLC
Moody’s Ratings	Moody’s Investors Service, Inc.
Multi-Manager Strategies Funds	Multi-Manager Alternative Strategies Fund, Multi-Manager Directional Alternative Strategies Fund, Multi-Manager Growth Strategies Fund, Multi- Manager International Equity Strategies Fund, Multi-Manager Small Cap Equity Strategies Fund, Multi-Manager Total Return Bond Strategies Fund and Multi-Manager Value Strategies Fund. Shares of the Multi-Manager Strategies Funds are offered only through certain wrap fee programs sponsored and/or managed by Ameriprise Financial, Inc. or its affiliates.
NASDAQ	National Association of Securities Dealers Automated Quotations system
NAV	Net asset value per share of a Fund
NRSRO	Nationally recognized statistical ratings organization (such as, for example, Moody’s Ratings, Fitch or S&P Global Ratings)
NSCC	National Securities Clearing Corporation
NYSE	New York Stock Exchange
PGIM	PGIM, Inc., the asset management arm of Prudential Financial, Inc.
PGIM Quantitative Solutions	PGIM Quantitative Solutions LLC (formerly, QMA LLC)
PwC	PricewaterhouseCoopers LLP
REIT	Real estate investment trust
REMIC	Real estate mortgage investment conduit
RIC	A “regulated investment company,” as such term is used in the Code
S&P	S&P Global Ratings, a division of S&P Global Inc. (“Standard & Poor’s” and “S&P” are trademarks of S&P Global Inc. and have been licensed for use by the Investment Manager. The Columbia Funds are not sponsored, endorsed, sold or promoted by S&P Global Ratings, and S&P Global Ratings makes no representation regarding the advisability of investing in the Columbia Funds.)
SAI	This Statement of Additional Information, as amended and supplemented from time-to-time

Statement of Additional Information – December 1, 2024

SEC	United States Securities and Exchange Commission
Shares	Shares of a Fund
SOFR	Secured Overnight Financing Rate
Solution Series Funds	Multisector Bond SMA Completion Portfolio and Overseas SMA Completion Portfolio
Subadvisory Agreement	The Subadvisory Agreement among a Trust on behalf of the Fund(s), the Investment Manager and a Fund’s investment subadviser(s), as the context may require
Subsidiary	One or more wholly-owned subsidiaries of a Fund
Summit Partners	Summit Partners Public Asset Management, LLC
TCW	TCW Investment Management Company LLC
Thames River Capital	Thames River Capital LLP
Threadneedle	Threadneedle International Limited
Transfer Agency Agreement	The Transfer and Dividend Disbursing Agent Agreement between a Trust, on behalf of its Funds, and the Transfer Agent
Transfer Agent	Columbia Management Investment Services Corp.
Trustee(s)	One or more members of the Board
Trusts	CFST, CFST I and CFST II, which are the registered investment companies in the Columbia Funds Complex to which this SAI relates
Voya	Voya Investment Management Co. LLC
Walter Scott	Walter Scott & Partners Limited

Throughout this SAI, the Funds are referred to as follows:

Fund Name:	Referred to as:
Columbia Adaptive Risk Allocation Fund	Adaptive Risk Allocation Fund
Columbia Balanced Fund	Balanced Fund
Columbia Bond Fund	Bond Fund
Columbia California Intermediate Municipal Bond Fund	CA Intermediate Municipal Bond Fund
Columbia Capital Allocation Aggressive Portfolio	Capital Allocation Aggressive Portfolio
Columbia Capital Allocation Conservative Portfolio	Capital Allocation Conservative Portfolio
Columbia Capital Allocation Moderate Aggressive Portfolio	Capital Allocation Moderate Aggressive Portfolio
Columbia Capital Allocation Moderate Conservative Portfolio	Capital Allocation Moderate Conservative Portfolio
Columbia Capital Allocation Moderate Portfolio	Capital Allocation Moderate Portfolio
Columbia Contrarian Core Fund	Contrarian Core Fund
Columbia Commodity Strategy Fund	Commodity Strategy Fund
Columbia Convertible Securities Fund	Convertible Securities Fund
Columbia Corporate Income Fund	Corporate Income Fund
Columbia Disciplined Core Fund	Disciplined Core Fund
Columbia Disciplined Growth Fund	Disciplined Growth Fund
Columbia Disciplined Value Fund	Disciplined Value Fund
Columbia Dividend Income Fund	Dividend Income Fund
Columbia Dividend Opportunity Fund	Dividend Opportunity Fund
Columbia Emerging Markets Fund	Emerging Markets Fund
Columbia Emerging Markets Bond Fund	Emerging Markets Bond Fund
Columbia Flexible Capital Income Fund	Flexible Capital Income Fund
Columbia Floating Rate Fund	Floating Rate Fund
Columbia Global Opportunities Fund	Global Opportunities Fund

Statement of Additional Information – December 1, 2024

Fund Name:	Referred to as:
Columbia Global Technology Growth Fund	Global Technology Growth Fund
Columbia Global Value Fund	Global Value Fund
Columbia Government Money Market Fund	Government Money Market Fund
Columbia Greater China Fund	Greater China Fund
Columbia High Yield Bond Fund	High Yield Bond Fund
Columbia High Yield Municipal Fund	High Yield Municipal Fund
Columbia Income Builder Fund	Income Builder Fund
Columbia Income Opportunities Fund	Income Opportunities Fund
Columbia Intermediate Duration Municipal Bond Fund	Intermediate Duration Municipal Bond Fund
Columbia International Dividend Income Fund	International Dividend Income Fund
Columbia Large Cap Enhanced Core Fund	Large Cap Enhanced Core Fund
Columbia Large Cap Growth Fund	Large Cap Growth Fund
Columbia Large Cap Growth Opportunity Fund	Large Cap Growth Opportunity Fund
Columbia Large Cap Index Fund	Large Cap Index Fund
Columbia Large Cap Value Fund	Large Cap Value Fund
Columbia Limited Duration Credit Fund	Limited Duration Credit Fund
Columbia Massachusetts Intermediate Municipal Bond Fund	MA Intermediate Municipal Bond Fund
Columbia Mid Cap Index Fund	Mid Cap Index Fund
Columbia Minnesota Tax-Exempt Fund	MN Tax-Exempt Fund
Columbia Mortgage Opportunities Fund	Mortgage Opportunities Fund
Columbia Multi Strategy Alternatives Fund	Multi Strategy Alternatives Fund
Columbia New York Intermediate Municipal Bond Fund	NY Intermediate Municipal Bond Fund
Columbia Oregon Intermediate Municipal Bond Fund	OR Intermediate Municipal Bond Fund
Columbia Overseas Core Fund	Overseas Core Fund
Columbia Overseas Value Fund	Overseas Value Fund
Columbia Quality Income Fund	Quality Income Fund
Columbia Real Estate Equity Fund	Real Estate Equity Fund
Columbia Select Global Equity Fund	Select Global Equity Fund
Columbia Select Large Cap Equity Fund	Select Large Cap Equity Fund
Columbia Select Large Cap Growth Fund	Select Large Cap Growth Fund
Columbia Select Large Cap Value Fund	Select Large Cap Value Fund
Columbia Select Mid Cap Growth Fund	Select Mid Cap Growth Fund
Columbia Select Mid Cap Value Fund	Select Mid Cap Value Fund
Columbia Select Small Cap Value Fund	Select Small Cap Value Fund
Columbia Seligman Global Technology Fund	Seligman Global Technology Fund
Columbia Seligman Technology and Information Fund	Seligman Technology and Information Fund
Columbia Short Duration Municipal Bond Fund	Short Duration Municipal Bond Fund
Columbia Short Term Bond Fund	Short Term Bond Fund
Columbia Small Cap Growth Fund	Small Cap Growth Fund
Columbia Small Cap Index Fund	Small Cap Index Fund
Columbia Small Cap Value Fund I	Small Cap Value Fund I
Columbia Small Cap Value Fund II	Small Cap Value Fund II
Columbia Strategic California Municipal Income Fund	Strategic CA Municipal Income Fund
Columbia Strategic Income Fund	Strategic Income Fund

Statement of Additional Information – December 1, 2024

Fund Name:	Referred to as:
Columbia Strategic Municipal Income Fund	Strategic Municipal Income Fund
Columbia Strategic New York Municipal Income Fund	Strategic NY Municipal Income Fund
Columbia Tax-Exempt Fund	Tax-Exempt Fund
Columbia Total Return Bond Fund	Total Return Bond Fund
Columbia U.S. Treasury Index Fund	U.S. Treasury Index Fund
Columbia Ultra Short Term Bond Fund	Ultra Short Term Bond Fund
Multi-Manager Alternative Strategies Fund	MM Alternative Strategies Fund
Multi-Manager Directional Alternative Strategies Fund	MM Directional Alternative Strategies Fund
Multi-Manager Growth Strategies Fund	MM Growth Strategies Fund
Multi-Manager International Equity Strategies Fund	MM International Equity Strategies Fund
Multi-Manager Small Cap Equity Strategies Fund	MM Small Cap Equity Strategies Fund
Multi-Manager Total Return Bond Fund	MM Total Return Bond Strategies Fund
Multi-Manager Value Strategies Fund	MM Value Strategies Fund
Multisector Bond SMA Completion Portfolio	Multisector Bond SMA Completion Portfolio
Overseas SMA Completion Portfolio	Overseas SMA Completion Portfolio

Statement of Additional Information – December 1, 2024

ABOUT THE Trusts

The Trusts are open-end management investment companies registered with the SEC under the 1940 Act with an address at 290 Congress Street, Boston, MA 02210.

CFST was organized as a Delaware business trust, a form of entity now known as a statutory trust, on October 22, 1999. On September 26, 2005, CFST changed its name from Nations Funds Trust to Columbia Funds Series Trust. CFST I was organized as a Massachusetts business trust on October 6, 1987. On October 13, 2003, CFST I changed its name from Liberty-Stein Roe Funds Municipal Trust to Columbia Funds Trust IX. On September 19, 2005, CFST I changed its name from Columbia Funds Trust IX to its current name. CFST II was organized as a Massachusetts business trust on January 27, 2006. On March 7, 2011, CFST II changed its name from RiverSource Series Trust to Columbia Funds Series Trust II and prior to September 11, 2007 was known as RiverSource Retirement Series Trust. The offering of Fund shares is registered under the 1933 Act.

Fund	Fiscal Year End	Prospectus Date	Date Began Operations*	Diversified**	Fund Investment Category***
Adaptive Risk Allocation Fund	May 31	10/1/2024	6/19/2012	Yes	Alternative
Balanced Fund	August 31	1/1/2024 & 7/1/2024	10/1/1991	Yes	Equity/Taxable fixed income
Bond Fund	April 30	9/1/2024	1/9/1986	Yes	Taxable fixed income
CA Intermediate Municipal Bond Fund	April 30	9/1/2024	8/19/2002	Yes	Tax-exempt fixed income
Capital Allocation Aggressive Portfolio	January 31	6/1/2024	3/4/2004	Yes	Fund-of-funds – equity
Capital Allocation Conservative Portfolio	January 31	6/1/2024	3/4/2004	Yes	Fund-of-funds – fixed income
Capital Allocation Moderate Aggressive Portfolio	January 31	6/1/2024	10/15/1996	Yes	Fund-of-funds – equity
Capital Allocation Moderate Conservative Portfolio	January 31	6/1/2024	10/15/1996	Yes	Fund-of-funds – fixed income
Capital Allocation Moderate Portfolio	January 31	6/1/2024	3/4/2004	Yes	Fund-of-funds – equity
Commodity Strategy Fund	May 31	10/1/2024	7/28/2011	Yes	Equity
Contrarian Core Fund	August 31	1/1/2024 & 7/1/2024	12/14/1992	Yes	Equity
Convertible Securities Fund	February 28/29	7/1/2024	9/25/1987	Yes	Equity
Corporate Income Fund	April 30	9/1/2024	3/5/1986	Yes	Taxable fixed income
Disciplined Core Fund	July 31	12/1/2024	4/24/2003	Yes	Equity
Disciplined Growth Fund	July 31	12/1/2024	5/17/2007	Yes	Equity
Disciplined Value Fund	July 31	12/1/2024	8/1/2008	Yes	Equity
Dividend Income Fund	May 31	10/1/2024	3/4/1998	Yes	Equity
Dividend Opportunity Fund	May 31	10/1/2024	8/1/1988	Yes	Equity
Emerging Markets Fund	August 31	1/1/2024 & 7/1/2024	1/2/1998	Yes	Equity
Emerging Markets Bond Fund	August 31	1/1/2024	2/16/2006	No	Taxable fixed income
Flexible Capital Income Fund	May 31	10/1/2024	7/28/2011	Yes	Flexible
Floating Rate Fund	July 31	12/1/2024	2/16/2006	Yes	Taxable fixed income
Global Opportunities Fund	July 31	12/1/2024	1/28/1985	Yes	Flexible
Global Technology Growth Fund	August 31	1/1/2024 & 7/1/2024	11/9/2000	Yes	Equity
Global Value Fund	February 28/29	7/1/2024	5/14/1984	Yes	Equity
Government Money Market Fund	July 31	12/1/2024	10/6/1975	Yes	Taxable money market
Greater China Fund	August 31	1/1/2024	5/16/1997	No	Equity
High Yield Bond Fund	May 31	10/1/2024	12/8/1983	Yes	Taxable fixed income

Statement of Additional Information – December 1, 2024

Fund	Fiscal Year End	Prospectus Date	Date Began Operations*	Diversified**	Fund Investment Category***
High Yield Municipal Fund	May 31	10/1/2024	3/5/1984	Yes	Tax-exempt fixed income
Income Builder Fund	January 31	6/1/2024	2/16/2006	Yes	Fund-of-funds – fixed income
Income Opportunities Fund	July 31	12/1/2024	6/19/2003	Yes	Taxable fixed income
Intermediate Duration Municipal Bond Fund	October 31	3/1/2024 & 7/1/2024	6/14/1993	Yes	Tax-exempt fixed income
International Dividend Income Fund	August 31	1/1/2024 & 7/1/2024	11/9/2000	Yes	Equity
Large Cap Enhanced Core Fund	February 28/29	7/1/2024	7/31/1996	Yes	Equity
Large Cap Growth Fund	July 31	12/1/2024	12/14/1990	Yes	Equity
Large Cap Growth Opportunity Fund	February 28/29	7/1/2024	12/31/1997	Yes	Equity
Large Cap Index Fund	February 28/29	7/1/2024	12/15/1993	Yes	Equity
Large Cap Value Fund	May 31	10/1/2024	10/15/1990	Yes	Equity
Limited Duration Credit Fund	July 31	12/1/2024	6/19/2003	Yes	Taxable fixed income
MA Intermediate Municipal Bond Fund	October 31	3/1/2024	6/14/1993	No	Tax-exempt fixed income
Mid Cap Index Fund	February 28/29	7/1/2024	3/31/2000	Yes	Equity
MM Alternative Strategies Fund	August 31	1/1/2024	4/23/2012	Yes	Alternative
MM Directional Alternative Strategies Fund	April 30	9/1/2024	10/17/2016	Yes	Alternative
MM Growth Strategies Fund	March 31	8/1/2024	4/20/2012	Yes	Equity
MM International Equity Strategies Fund	August 31	1/1/2024	5/17/2018	Yes	Equity
MM Small Cap Equity Strategies Fund	August 31	1/1/2024	4/20/2012	Yes	Equity
MM Total Return Bond Strategies Fund	August 31	1/1/2024	4/20/2012	Yes	Taxable fixed income
MM Value Strategies Fund	May 31	10/1/2024	4/20/2012	Yes	Equity
MN Tax-Exempt Fund	July 31	12/1/2024	8/18/1986	No	Tax-exempt fixed income
Mortgage Opportunities Fund	May 31	10/1/2024	4/30/2014	Yes	Taxable fixed income
Multisector Bond SMA Completion Portfolio	August 31	1/1/2024	10/29/2019	No	Taxable fixed income
Multi Strategy Alternatives Fund	May 31	10/1/2024	1/28/2015	Yes	Alternative
NY Intermediate Municipal Bond Fund	October 31	3/1/2024	12/31/1991	No	Tax-exempt fixed income
OR Intermediate Municipal Bond Fund	July 31	12/1/2024	7/2/1984	Yes	Tax-exempt fixed income
Overseas Core Fund	February 28/29	7/1/2024	3/5/2018	Yes	Equity
Overseas SMA Completion Portfolio	August 31	1/1/2024	9/12/2019	No	Equity
Overseas Value Fund	February 28/29	7/1/2024	3/31/2008	Yes	Equity
Quality Income Fund	May 31	10/1/2024	2/14/2002	Yes	Taxable fixed income
Real Estate Equity Fund	December 31	5/1/2024	4/1/1994	No	Equity
Select Global Equity Fund	October 31	3/1/2024	5/29/1990	Yes	Equity
Select Large Cap Equity Fund	February 28/29	7/1/2024	10/2/1998	Yes	Equity
Select Large Cap Growth Fund	March 31	8/1/2024	10/1/1997	Yes	Equity
Select Large Cap Value Fund	May 31	10/1/2024	4/25/1997	Yes	Equity

Statement of Additional Information – December 1, 2024

Fund	Fiscal Year End	Prospectus Date	Date Began Operations*	Diversified**	Fund Investment Category***
Select Mid Cap Growth Fund	August 31	1/1/2024 & 7/1/2024	11/20/1985	Yes	Equity
Select Mid Cap Value Fund	February 28/29	7/1/2024	11/20/2001	Yes	Equity
Select Small Cap Value Fund	May 31	10/1/2024	4/25/1997	Yes	Equity
Seligman Global Technology Fund	October 31	3/1/2024 & 7/1/2024	5/23/1994	No	Equity
Seligman Technology and Information Fund	May 31	10/1/2024	6/23/1983	No	Equity
Short Duration Municipal Bond Fund	April 30	9/1/2024	10/7/1993	Yes	Tax-exempt fixed income
Short Term Bond Fund	March 31	8/1/2024	9/30/1992	Yes	Taxable fixed income
Small Cap Growth Fund	August 31	1/1/2024 & 7/1/2024	10/1/1996	Yes	Equity
Small Cap Index Fund	February 28/29	7/1/2024	10/15/1996	Yes	Equity
Small Cap Value Fund I	April 30	9/1/2024	7/25/1986	Yes	Equity
Small Cap Value Fund II	February 28/29	7/1/2024	5/1/2002	Yes	Equity
Strategic CA Municipal Income Fund	October 31	3/1/2024	6/16/1986	Yes	Tax-exempt fixed income
Strategic Income Fund	August 31	1/1/2024 & 7/1/2024	4/21/1977	Yes	Taxable fixed income
Strategic Municipal Income Fund	July 31	12/1/2024	11/24/1976	Yes	Tax-exempt fixed income
Strategic NY Municipal Income Fund	October 31	3/1/2024	9/26/1986	No	Tax-exempt fixed income
Tax-Exempt Fund	July 31	12/1/2024	11/21/1978	Yes	Tax-exempt fixed income
Total Return Bond Fund	April 30	9/1/2024	12/5/1978	Yes	Taxable fixed income
U.S. Treasury Index Fund	April 30	9/1/2024	6/4/1991	Yes	Taxable fixed income
Ultra Short Term Bond Fund	July 31	12/1/2024	3/8/2004	Yes	Taxable fixed income

Certain Funds reorganized into series of a Trust. The date of operations for these Funds represents the date on which the predecessor funds began operations.

A “diversified” Fund may not, with respect to 75% of its total assets, invest more than 5% of its total assets in securities of any one issuer or purchase more than 10% of the outstanding voting securities of any one issuer, except obligations issued or guaranteed by the U.S. Government, its agencies or instrumentalities and except securities of other investment companies. A “non-diversified” Fund may invest a greater percentage of its total assets in the securities of fewer issuers than a “diversified” fund, which increases the risk that a change in the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect that of a “diversified” fund holding a greater number of investments. Accordingly, a “non-diversified” Fund’s value will likely be more volatile than the value of a more diversified fund.

***

The Fund Investment Category is used as a convenient way to describe Funds in this SAI and should not be deemed a description of the

Fund’s principal investment strategies, which are described in the Fund’s prospectus.

Statement of Additional Information – December 1, 2024

FUNDAMENTAL AND NON-FUNDAMENTAL INVESTMENT POLICIES

The following discussion of “fundamental” and “non-fundamental” investment policies and limitations for each Fund supplements the discussion of investment policies in the Funds’ prospectuses. A fundamental policy may be changed only with Board and shareholder approval. A non-fundamental policy may be changed only with Board approval and does not require shareholder approval.

Unless otherwise noted in a Fund’s prospectus or this SAI, whenever an investment policy or limitation states a maximum percentage of a Fund’s assets that may be invested in any security or other asset, or sets forth a policy regarding an investment standard, compliance with such percentage limitation or standard will be determined solely at the time of the Fund’s acquisition of such security or asset (Time of Purchase Standard). Thus, a Fund may continue, subject to applicable law, to hold a security, even though it causes the Fund to exceed a percentage limitation or not meet a standard, because of post-acquisition changes, including fluctuation in the value of the Fund’s assets.

In adhering to the fundamental and non-fundamental investment restrictions and policies applicable to each of Commodity Strategy Fund, MM Alternative Strategies Fund and Multi Strategy Alternatives Fund, each such Fund will, to the extent possible, treat any assets of its Subsidiary generally as if the assets were held directly by the Fund.

Notwithstanding the policies set forth in this SAI for Government Money Market Fund, the Fund will comply with the applicable provisions of Rule 2a-7 under the 1940 Act (Rule 2a-7).

Fundamental Policies

The table below shows Fund-specific policies that may be changed only with a “vote of a majority of the outstanding voting securities” of the Fund, which means the affirmative vote of the lesser of (1) more than 50% of the outstanding shares of the Fund, or (2) 67% or more of the shares present at a meeting if more than 50% of the outstanding shares are represented at the meeting in person or by proxy. The table indicates whether or not a fund has a policy on a particular topic. A dash indicates that the Fund does not have a Fundamental policy on a particular topic. The specific policy is stated in the paragraphs that follow the table.

Fund	A Buy or sell real estate	B Buy or sell commodities	C Issuer Diversification	D Concentrate in any one industry	E Invest 80%	F Act as an underwriter	G Lending	H Borrow money	I Issue senior securities	J Buy on margin/ sell short
Adaptive Risk Allocation Fund	A7	B10	C6	D15	—	F6	G4	H3	I6	—
Balanced Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
Bond Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
CA Intermediate Municipal Bond Fund	A4	B5	C2	D6	E3	F3	G3	H2	I3	—
Capital Allocation Aggressive Portfolio	A1	B1	C5	D2	—	F1	G1	H1	I1	—
Capital Allocation Conservative Portfolio	A1	B1	C5	D2	—	F1	G1	H1	I1	—
Capital Allocation Moderate Aggressive Portfolio	A4	B5	C2	D6	—	F3	G3	H2	I3	—
Capital Allocation Moderate Conservative Portfolio	A4	B5	C2	D6	—	F3	G3	H2	I3	—
Capital Allocation Moderate Portfolio	A1	B1	C5	D2	—	F1	G1	H1	I1	—
Commodity Strategy Fund	A1	B8	C5	D5	—	F1	G1	H1	I1	—
Contrarian Core Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
Convertible Securities Fund	A4	B5	C2	D6	—	F3	G3	H2	I3	—
Corporate Income Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
Disciplined Core Fund	A1	B1	C1	D1	—	F1	G1	H1	I1	—
Disciplined Growth Fund	A1	B2	C1	D1	—	F1	G1	H1	I1	—
Disciplined Value Fund	A1	B2	C5	D1	—	F1	G1	H1	I1	—
Dividend Income Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
Dividend Opportunity Fund	A1	B1	C1	D1	—	F1	G1	H1	I1	—
Emerging Markets Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
Emerging Markets Bond Fund	A1	B3	—	D3	—	F1	G1	H1	I1	—

Statement of Additional Information – December 1, 2024

Fund	A Buy or sell real estate	B Buy or sell commodities	C Issuer Diversification	D Concentrate in any one industry	E Invest 80%	F Act as an underwriter	G Lending	H Borrow money	I Issue senior securities	J Buy on margin/ sell short
Flexible Capital Income Fund	A1	B8	C5	D5	—	F1	G1	H1	I1	—
Floating Rate Fund	A1	B3	C1	D4	—	F1	G1	H1	I1	—
Global Opportunities Fund	A1	B1	C1	D1	—	F1	G1	H1	I1	—
Global Technology Growth Fund	A7	B10	C6	D8	E12	F6	G4	H3	I6	—
Global Value Fund	A1	B1	C1	D1	—	F1	G1	H1	I1	—
Government Money Market Fund	A2	A2	C1	D13	—	F1	G1	H1	I1	J1
Greater China Fund	A7	B10	C8	D15	—	F6	G4	H3	I6	—
High Yield Bond Fund	A1	B1	C1	D1	—	F1	G1	H1	I1	—
High Yield Municipal Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
Income Builder Fund	A1	B3	C5	D2	—	F1	G1	H1	I1	—
Income Opportunities Fund	A1	B1	C1	D1	—	F1	G1	H1	I1	—
Intermediate Duration Municipal Bond Fund	A7	B10	C7	D15	E6	F6	G4	H3	I6	—
International Dividend Income Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
Large Cap Enhanced Core Fund	A4	B5	C2	D6	—	F3	G3	H2	I3	—
Large Cap Growth Fund	A7	B10	C7	D15	—	F6	G4	H3	I6	—
Large Cap Growth Opportunity Fund	A4	B5	C2	D6	—	F3	G3	H2	I3	—
Large Cap Index Fund	A4	B5	C2	D6	—	F3	G3	H2	I3	—
Large Cap Value Fund	A1	B1	C1	D1	—	F1	G1	H1	I1	—
Limited Duration Credit Fund

SAI PRIMER	2
ABOUT THE Trusts	8
FUNDAMENTAL AND NON-FUNDAMENTAL INVESTMENT POLICIES	12
ABOUT FUND INVESTMENTS	25
Types of Investments	25
Information Regarding Risks	63
Borrowings	100
Lending of Portfolio Securities	100
Interfund Lending	101
INVESTMENT MANAGEMENT AND OTHER SERVICES	102
The Investment Manager and Subadvisers	102
Potential Conflicts of Interest	141
Structure of Compensation	173
The Administrator	185
The Distributor	185
Distribution and/or Servicing Plans	188
Other Services Provided	193
Expense Limitations	194
Other Roles and Relationships of Ameriprise Financial and Its Affiliates — Certain Conflicts of Interest	198
Codes of Ethics	202
Proxy Voting Policies and Procedures	203
Organization and Management of Wholly-Owned Subsidiaries	204
FUND GOVERNANCE	206
Board of Trustees and Officers	206
Compensation	226
BROKERAGE ALLOCATION AND RELATED PRACTICES	235
General Brokerage Policy, Brokerage Transactions and Broker Selection	235
Brokerage Commissions	238
Directed Brokerage	242
Securities of Regular Broker-Dealers	245
OTHER PRACTICES	251
Performance Disclosure	251
Portfolio Turnover	251
Disclosure of Portfolio Holdings Information	252
Additional Shareholder Servicing Payments	260
Additional Payments to Financial Intermediaries	261
CAPITAL STOCK AND OTHER SECURITIES	264
Description of the Trusts' Shares	264
Conduct of the Trusts' Business	265
Purchase, Redemption and Pricing of Shares	267
Purchase and Redemption	267
Offering Price	268
TAXATION	271
CONTROL PERSONS AND PRINCIPAL HOLDERS OF SECURITIES	290
INFORMATION REGARDING PENDING AND SETTLED LEGAL PROCEEDINGS	358
APPENDIX A — DESCRIPTION OF CREDIT RATINGS	A-1
APPENDIX B — CORPORATE GOVERNANCE GUIDELINES	B-1
APPENDIX C — DESCRIPTION OF STATE RISK FACTORS	C-1
APPENDIX S — MORE INFORMATION ABOUT CHOOSING A SHARE CLASS	S-1

Fund	Effective Date of Name Change	Previous Fund Name
Global Value Fund	June 9, 2021	Columbia Global Equity Value Fund
Intermediate Duration Municipal Bond Fund	September 1, 2022	Columbia Intermediate Municipal Bond Fund
International Dividend Income Fund	September 2, 2020	Columbia Global Dividend Opportunity Fund
Large Cap Growth Opportunity Fund	January 10, 2020	Columbia Large Cap Growth Fund III
Select Mid Cap Growth Fund	March 1, 2022	Columbia Mid Cap Growth Fund
Seligman Technology and Information Fund	June 9, 2021	Columbia Seligman Communications and Information Fund
Short Duration Municipal Bond Fund	September 1, 2022	Columbia Short Term Municipal Bond Fund
Small Cap Growth Fund	June 9, 2021	Columbia Small Cap Growth Fund I