Columbia Mortgage Opportunities Fund
Columbia Funds Series Trust II · 6 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Columbia Mortgage Opportunities Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q3
Columbia Mortgage Opportunities Fund (the Fund) seeks total return, consisting of long-term capital appreciation and current income.
The fund invests at least 80% of assets in mortgage-related securities, including government-backed mortgage-backed bonds, agency securities, and non-agency residential and commercial mortgage-backed securities, along with stripped mortgage securities and derivatives such as swaps and futures to manage interest rate and credit exposure. The fund may also hold asset-backed securities, high-yield debt, and cash. Because the fund's use of derivatives may result in leverage and its strategy involves frequent trading, returns depend on the manager's timing and selection decisions across these positions.
| Share class | Gross | Net |
|---|---|---|
| CLMAX | 1.08% | 1.04% |
| CLMCX | 1.83% | 1.79% |
| CLMVX | 0.78% | 0.73% |
| CLMZX | 0.83% | 0.79% |
| CMOYX | 0.73% | 0.69% |
| CLMDX | 0.83% | 0.79% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 706.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Securitized | 172.20% |
| Cash & short-term | 3.87% |
| Bonds | 1.10% |
| Stocks | 0.65% |
| Derivatives | -0.60% |
These positions come to 177.22% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: UMBS, TBA ×6, Government National Mortgage Association, Freddie Mac
Largest exited: UMBS, TBA ×6, Government National Mortgage Association, WELLS FARGO COMMERCIAL MORTGAGE TRUST WFCM_21-FCMT
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +5.94% | +22.85% | +2.78% | 3.65% | -6.95% | |
| +5.16% | +20.26% | -0.93% | 3.76% | -7.20% | |
| — | — | — | — | — | |
| +6.30% | +23.97% | +4.38% | 3.76% | -6.83% | |
| +6.20% | +23.90% | +4.12% | 3.81% | -6.85% | |
| +6.32% | +24.24% | +4.60% | 3.76% | -6.67% | |
| +6.08% | — | — | 3.71% | — |
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 57.0% |
| Floating rate | 42.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.2% |
| 1-3y | 0.7% |
| 3-5y | 4.1% |
| 5-10y | 6.8% |
| 10y+ | 88.2% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 60% |
| Interest rates | 40% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +6.28 yr |
| High yield | +1.42 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.04 yr | 1% |
| 1 yr | 1.51 yr | 30% |
| 5 yr | 1.11 yr | 22% |
| 10 yr | 1.79 yr | 35% |
| 30 yr | 0.61 yr | 12% |
| 3 mo | 3.86 yr | 50% |
| 1 yr | 0.04 yr | 0% |
| 5 yr | 0.31 yr | 4% |
| 10 yr | 0.60 yr | 8% |
| 30 yr | 2.89 yr | 38% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.04 | +4.30 | -0.44 | $1.14m | -$115.2k |
| 1 yr | +1.51 | +0.00 | +0.04 | $0 | $9.4k |
| 5 yr | +1.11 | +0.04 | +0.28 | $10.2k | $73.0k |
| 10 yr | +1.79 | +0.13 | +0.46 | $35.7k | $122.9k |
| 30 yr | +0.61 | +1.82 | +1.08 | $480.9k | $285.2k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | UMBS, TBA6.00% · due 2056-06-01 | 18.23% | $482.97M | — |
| — | UMBS, TBA4.50% · due 2056-06-01 | 17.50% | $463.63M | — |
| — | UMBS, TBA4.00% · due 2056-06-01 | 15.46% | $409.57M | — |
| — | UMBS, TBA5.00% · due 2056-06-01 | 9.69% | $256.76M | — |
| — | Government National Mortgage Association4.50% · due 2056-06-20 | 8.71% | $230.85M | — |
| — | UMBS, TBA3.50% · due 2056-06-01 | 5.15% | $136.33M | — |
| — | COLUMBIA SHORT TERM CASH FUND | 3.87% | $102.38M | — |
| — | UMBS, TBA5.50% · due 2056-06-01 | 2.27% | $60.26M | — |
| — | FEDERAL NATIONAL MORTGAGE ASSOCIATION4.00% · due 2052-08-01 | 1.11% | $29.43M | — |
| — | Freddie Mac - STACR9.11% floating · due 2034-01-25 | 1.07% | $28.36M | — |
Top 10 positions are 83.08% of net assets, top 25 95.61%, across 290 issuers.
See more of this fund's book
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