Franklin Mutual Advisers Amends Columbia Banking System Stake

TL;DR

**Franklin Mutual Advisers updated their stake in Columbia Banking System, Inc. as of year-end 2023.**

AI Summary

Franklin Mutual Advisers, LLC, a Delaware-based investment firm, filed an amended SC 13G/A on January 30, 2024, indicating a change in their beneficial ownership of Columbia Banking System, Inc. common stock as of December 31, 2023. This filing, an amendment to a previous disclosure, signals that Franklin Mutual Advisers, LLC continues to hold a significant, though potentially adjusted, stake in Columbia Banking System, Inc., which could influence the company's stock performance and strategic decisions. Investors should note that large institutional holdings can provide stability but also pose risks if the institution decides to significantly alter its position.

Why It Matters

This filing shows a major institutional investor's updated position in Columbia Banking System, Inc., which can impact stock liquidity and investor confidence. Significant changes by large holders can signal their outlook on the company's future.

Risk Assessment

Risk Level: medium — Changes in large institutional holdings can create volatility, especially if the investor decides to sell a significant portion of their shares.

Analyst Insight

Investors should monitor future filings from Franklin Mutual Advisers, LLC for any further changes in their beneficial ownership of Columbia Banking System, Inc. stock, as significant increases or decreases could signal a shift in institutional sentiment.

Key Numbers

• 197236102 — CUSIP Number (identifies Columbia Banking System, Inc. common stock)
• 0001023875-24-000009 — Accession Number (unique identifier for this specific SEC filing)

Key Players & Entities

• Franklin Mutual Advisers, LLC (company) — the reporting person filing the SC 13G/A
• Columbia Banking System, Inc. (company) — the subject company whose securities are being reported
• Delaware (company) — state of organization for Franklin Mutual Advisers, LLC
• December 31, 2023 (date) — date of event requiring the filing
• January 30, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Franklin Mutual Advisers, LLC will maintain a significant, but potentially adjusted, stake in Columbia Banking System, Inc. throughout 2024. (Franklin Mutual Advisers, LLC) — medium confidence, target: 2024-12-31

FAQ

Filing Documents

• colu23a1.htm (SC 13G/A) — 91KB
• 0001023875-24-000009.txt ( ) — 93KB

If this statement is filed pursuant to 240.13d1(b) or 240.13d2(b) or (c),

Item 3. If this statement is filed pursuant to 240.13d1(b) or 240.13d2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 8o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a 8). (e) [X] An investment adviser in accordance with 240.13d1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with 240.13d1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a3); (j) [ ] A nonU.S. institution in accordance with 240.13d1(b)(ii)(J); (k) [ ] Group, in accordance with 240.13d1(b)(1)(ii)(K). If filing as a nonU.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution CUSIP NO. 197236102 13G Page 5 of 7

Ownership

Item 4. Ownership The securities reported herein are beneficially owned by one or more openend investment companies or other managed accounts that are investment management clients of Franklin Mutual Advisers, LLC ("FMA"), an indirect wholly owned subsidiary of Franklin Resources, Inc. ("FRI"). When an investment management contract (including a subadvisory agreement) delegates to FMA investment discretion or voting power over the securities held in the investment advisory accounts that are subject to that agreement, FRI treats FMA as having sole investment discretion or voting authority, as the case may be, unless the agreement specifies otherwise. Accordingly, FMA reports on Schedule 13G that it has sole investment discretion and voting authority over the securities covered by any such investment management agreement, unless otherwise noted in this Item 4. As a result for purposes of Rule 13d3 under the Act, FMA may be deemed to be the beneficial owner of the securities reported in this Schedule 13G. Beneficial ownership by investment management subsidiaries and other affiliates of FRI is being reported in conformity with the guidelines articulated by the SEC staff in Release No. 3439538 (January 12, 1998) relating to organizations, such as FRI, where related entities exercise voting and investment powers over the securities being reported independently from each other. The voting and investment powers held by FMA are exercised independently from FRI (FMA's parent holding company) and from all other investment management subsidiaries of FRI (FRI, its affiliates and investment management subsidiaries other than FMA are, collectively, "FRI affiliates"). Furthermore, internal policies and procedures of FMA and FRI affiliates establish informational barriers that prevent the flow between FMA and the FRI affiliates of information that relates to the voting and investment powers over the securities owned by their respective

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person The clients of Franklin Mutual Advisers, LLC, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, the securities reported herein.

Identification and Classification of the Subsidiary Which Acquired the

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company Not Applicable

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not Applicable

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not Applicable CUSIP NO. 197236102 13G Page 7 of 7

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a11. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 23, 2024 Franklin Mutual Advisers, LLC By: /s/VIRGINIA E. ROSAS Virginia E. Rosas Secretary of Franklin Mutual Advisers, LLC

View Full Filing

View this SC 13G/A filing on SEC EDGAR