Summary

• Columbia Disciplined Growth Fund Class A shares returned -10.50% and Institutional Class shares returned -10.44% for the quarter ended March 31, 2026, underperforming the Russell 1000 Growth Index.
• The Russell 1000 Growth Index returned -9.78% during the quarter, while the Russell 1000 Value Index gained 2.10%, reflecting the underperformance of mega-cap technology-related companies.
• The catalyst theme of the fund's stock selection model was weakest during the first quarter of 2026, with two of its factors detracting and cash flow surprise identified as the weakest.
• Adobe saw a steep double-digit share-price decline on softer near-term billings and guidance, heightened AI competition pressuring monetization expectations and a valuation reset following prior outperformance.
• EMCOR Group enjoyed a double-digit share-price gain during the quarter, driven by strong demand for electrical, HVAC and infrastructure services coupled with robust backlog visibility and margin discipline.

Fund performance

• Columbia Disciplined Growth Fund Class A shares returned -10.50% (excluding sales charges) and Institutional Class shares returned -10.44% for the quarter ended March 31, 2026.
• The fund underperformed its benchmark, the Russell 1000® Growth Index ((Russell Index)), which returned -9.78% during

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