In their Q1 2026 commentaries, Columbia’s portfolio managers provide updates on fund performance, portfolio positioning, and outlooks for several strategies, including small-cap growth, small-cap value and inflection, strategic income, and strategic municipal income. Across the commentaries, the managers discuss how market conditions during the quarter influenced security selection and relative results, and they describe the sectors and holdings that have contributed to performance versus benchmarks. They also highlight key themes driving their investment approach, such as growth or value characteristics in small-cap segments, and yield and credit or rate considerations in income-oriented funds. The commentaries typically emphasize ongoing risk management and diversification, noting how positioning may change as economic data, interest-rate expectations, and market volatility evolve. While the specific security-level details and performance drivers can differ by fund—reflecting distinct mandates and target asset classes—the overall reporting framework is consistent: assess Q1 results, explain contributors and headwinds, and set expectations for how the team intends to manage the portfolios going forward. The outlets do not present a single unified event affecting all funds; rather, each commentary covers its fund’s progress in the quarter.