During the first weeks of life, microbial colonization of the gut impacts human immune system maturation and other developmental processes. In premature infants, aberrant colonization has been implicated in the onset of necrotizing enterocolitis (NEC), a lifethreatening intestinal disease. To study variability in the premature infant gut colonization process, genome-resolved metagenomics was conducted on 343 fecal samples collected during the first three months of life from 35 premature infants, 14 of which developed NEC, and metaproteomic measurements were made on 87 samples. Microbial proteomic profiles and community composition remained relatively stable on the time scale of a week, but the proteome was more variable than community composition. Although genetically similar organisms colonized many infants, most infants were colonized by distinct strains with metabolic profiles that could be distinguished using metaproteomics. Microbiome composition correlated with infant, antibiotics administration, and NEC diagnosis. Communities were found to cluster into seven primary types, and community type switched within infants, sometimes multiple times. Interestingly, some communities sampled from the same infant at subsequent time points clustered with those of other infants. In some cases, switches preceded onset of NEC; however, no species or community type could account for NEC across the majority of infants. In addition to a correlation of protein abundances with organism replication rates, we find that organism proteomes correlate with overall community composition. Thus, this genome-resolved proteomics study demonstrates that the contributions of individual organisms to microbiome development depend on microbial community context.