Select Large-Cap Value Fund
Posted: Thu Jul 10, 2025 6:31 am
Fund performance On a gross-of-fee basis, Columbia Select Large-Cap Value Fund outperformed the
Russell 1000 Value Index for the quarter, returning 15.51% vs. the benchmark’s 11.12%.
All sectors in the the portfolio were positive performers. Top sector-level contributors to
relative return included financials and energy (due to stock picking). Top sector-level detractors to relative return were consumer staples and industrials.
Market over view U.S. stocks saw their strongest first-quarter performance in more than a decade as
uncertainty over the prospects for the U.S. economy mobile database and the eurozone diminished considerably. Stocks rallied globally, largely fueled by sustained global monetary easing; we continue to see low interest rates around the world.
Portfolio sector allocationsAt quarter end, the top portfolio sector weights included financials, energy and industrials.
Financial stocks were the top performers in the benchmark and the portfolio during the
quarter, rallying on improving news from Europe, passing marks on the most recent U.S.
government stress tests and an announced settlement on mortgage relief with the Department of Housing and Urban Development. Diversified bank holdings such as JP Morgan Chase and Bank of America rallied on the news. We added to our bank
holdings during the quarter, initiating a position in Citigroup. Citigroup was selling at an appr eciable discount to tangible book value presenting yet another opportunity to ga inrom the rebuilt and renewed financials sector. There is no doubt revenue models will
have to be re-tooled to reflect the new regulatory realities in the sector, but we believe the
long-term outlook for banks and the financials sector is very positive. Portfolio holding
Russell 1000 Value Index for the quarter, returning 15.51% vs. the benchmark’s 11.12%.
All sectors in the the portfolio were positive performers. Top sector-level contributors to
relative return included financials and energy (due to stock picking). Top sector-level detractors to relative return were consumer staples and industrials.
Market over view U.S. stocks saw their strongest first-quarter performance in more than a decade as
uncertainty over the prospects for the U.S. economy mobile database and the eurozone diminished considerably. Stocks rallied globally, largely fueled by sustained global monetary easing; we continue to see low interest rates around the world.
Portfolio sector allocationsAt quarter end, the top portfolio sector weights included financials, energy and industrials.
Financial stocks were the top performers in the benchmark and the portfolio during the
quarter, rallying on improving news from Europe, passing marks on the most recent U.S.
government stress tests and an announced settlement on mortgage relief with the Department of Housing and Urban Development. Diversified bank holdings such as JP Morgan Chase and Bank of America rallied on the news. We added to our bank
holdings during the quarter, initiating a position in Citigroup. Citigroup was selling at an appr eciable discount to tangible book value presenting yet another opportunity to ga inrom the rebuilt and renewed financials sector. There is no doubt revenue models will
have to be re-tooled to reflect the new regulatory realities in the sector, but we believe the
long-term outlook for banks and the financials sector is very positive. Portfolio holding