# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001410368-26-018807
**Filing Date:** 2026-2
**Character Count:** 19789
**Document Hash:** 136b9a668eaee78d9e4d523111a1bc04
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-018807.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001410368-26-018807

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Columbia Funds Variable Series Trust II
- **CENTRAL INDEX KEY:** 0001413032

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22127
- **FILM NUMBER:** 26684762

**BUSINESS ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 800-345-6611

**MAIL ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RiverSource Variable Series Trust
- **DATE OF NAME CHANGE:** 20070920

## Series and Classes Contracts Data

### Variable Portfolio - Moderately Conservative Portfolio (Series ID: S000028703)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000087824 | Variable Portfolio - Moderately Conservative Portfolio Class 2 |  |
| C000087825 | Variable Portfolio - Moderately Conservative Portfolio Class 4 |  |
| C000209988 | Variable Portfolio - Moderately Conservative Portfolio Class 1 |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Columbia Funds Variable Series Trust II

- **b. Investment Company Act file number:** 811-22127

- **c. CIK number of Registrant:** 0001413032

- **d. LEI of Registrant:** 54930017CSZ4UCL7G406

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 290 Congress Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 800-345-6611

**Item A.2. Information about the Series.**

- **a. Name of Series:** Variable Portfolio - Moderately Conservative Portfolio

- **b. EDGAR series identifier (if any):** S000028703

- **c. LEI of Series:** 549300X0TYMEWB77DZ35

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1971003549.13

**Total Liabilities:** $1214773.51

**Net Assets:** $1969788775.62

**Cash Not Reported:** $7659.99

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 510437.56000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 2491.95000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000087824 | 1.09%                | 0.51%                | 0.19%                |
| Class ID C000087825 | 1.08%                | 0.51%                | 0.19%                |
| Class ID C000209988 | 1.07%                | 0.55%                | 0.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5567835.30              | $14453075.07                               |
| Month 2  | $1908340.55              | $8442099.92                                |
| Month 3  | $5666354.61              | $-620083.64                                |

**Designated Index Information**

- **Index Name:** 11 MS_EAFE / 65 LEH_AGG / 24 RS3000 USD FLOAT Index

- **Index Identifier:** LHAGRSUSD

### Schedule of Portfolio Investments

| Name                                                    | Title                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Columbia Variable Portfolio - Small Cap Value Fund      | Columbia Variable Portfolio - Small Cap Value Fund      | CUSIP: 19765R303<br>LEI: QFDZC6A36M07XEWD4L46 | Long             | EC               | RF                | US        |    382250 | NS      | $4835463.94   | 0.25%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA CONTRARIAN CORE CL I MF                        | COLUMBIA CONTRARIAN CORE CL I MF                        | CUSIP: 19765R535<br>LEI: N/A                  | Long             | EC               | RF                | US        |    968027 | NS      | $61498753.15  | 3.12%             |  |  |  | No            | N/A                | On Loan: No      |
| Columbia Variable Portfolio - Small Company Growth Fund | Columbia Variable Portfolio - Small Company Growth Fund | CUSIP: 19765R642<br>LEI: S7VQF2LJKBJBPNFLD691 | Long             | EC               | RF                | US        |    378282 | NS      | $5666665.09   | 0.29%             |  |  |  | No            | N/A                | On Loan: No      |
| VP - PARTNERS CORE BD FD CL1                            | VP - PARTNERS CORE BD FD CL1                            | CUSIP: 19766E129<br>LEI: N/A                  | Long             | EC               | RF                | US        |  29804076 | NS      | $290887783.21 | 14.77%            |  |  |  | No            | N/A                | On Loan: No      |
| VP - PARTNERS INTL GROWTH FD 1                          | VP - PARTNERS INTL GROWTH FD 1                          | CUSIP: 19766E145<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2628426 | NS      | $34379811.39  | 1.75%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - VICTORY SYCAMORE EST VAL CL1                    | CTIVP - VICTORY SYCAMORE EST VAL CL1                    | CUSIP: 19766E178<br>LEI: N/A                  | Long             | EC               | RF                | US        |    145408 | NS      | $7549590.06   | 0.38%             |  |  |  | No            | N/A                | On Loan: No      |
| VP PARTNERS CORE EQUITY FD CL 1                         | VP PARTNERS CORE EQUITY FD CL 1                         | CUSIP: 19766E236<br>LEI: N/A                  | Long             | EC               | RF                | US        |    520726 | NS      | $27155862.46  | 1.38%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - PRINCIPAL LARGE CAP GROWTH FUND                 | CTIVP - PRINCIPAL LARGE CAP GROWTH FUND                 | CUSIP: 19766E277<br>LEI: N/A                  | Long             | EC               | RF                | US        |    328430 | NS      | $26773639.60  | 1.36%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - AMER CENT DIVERSE BD CLS 1                      | CTIVP - AMER CENT DIVERSE BD CLS 1                      | CUSIP: 19766E293<br>LEI: N/A                  | Long             | EC               | RF                | US        |  27441192 | NS      | $255477500.73 | 12.97%            |  |  |  | No            | N/A                | On Loan: No      |
| VP - PARTNERS INTL VALUE FD 1                           | VP - PARTNERS INTL VALUE FD 1                           | CUSIP: 19766E327<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2961566 | NS      | $39566525.13  | 2.01%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP EMERGING MARKETS FUN                        | COLUMBIA VP EMERGING MARKETS FUN                        | CUSIP: 19766E376<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1170578 | NS      | $15720856.77  | 0.80%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP OVERSEAS CORE-1                             | COLUMBIA VP OVERSEAS CORE-1                             | CUSIP: 19766E418<br>LEI: Q0EBCBICSMH65I7QD232 | Long             | EC               | RF                | US        |   5807993 | NS      | $103905002.19 | 5.27%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP SEL LARGE CAP VAL CL 1                      | COLUMBIA VP SEL LARGE CAP VAL CL 1                      | CUSIP: 19766E475<br>LEI: N/A                  | Long             | EC               | RF                | US        |    865165 | NS      | $48483872.88  | 2.46%             |  |  |  | No            | N/A                | On Loan: No      |
| Columbia Variable Portfolio - Large Cap Growth Fund     | Columbia Variable Portfolio - Large Cap Growth Fund     | CUSIP: 19766E517<br>LEI: N/A                  | Long             | EC               | RF                | US        |    898509 | NS      | $51089194.62  | 2.59%             |  |  |  | No            | N/A                | On Loan: No      |
| Columbia VP - US Government Mortgage Fund               | Columbia VP - US Government Mortgage Fund               | CUSIP: 19766E541<br>LEI: N/A                  | Long             | EC               | RF                | US        |   9658832 | NS      | $90406671.08  | 4.59%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP INCOME OPPORTUNITIES 1                      | COLUMBIA VP INCOME OPPORTUNITIES 1                      | CUSIP: 19766E673<br>LEI: N/A                  | Long             | EC               | RF                | US        |   5616237 | NS      | $38021924.58  | 1.93%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VARIABLE PORTFOLIO - CORPORATE BOND FUND       | COLUMBIA VARIABLE PORTFOLIO - CORPORATE BOND FUND       | CUSIP: 19766E749<br>LEI: N/A                  | Long             | EC               | RF                | US        |  16522727 | NS      | $129703409.75 | 6.58%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP DISCIPLINED CORE FD-1                       | COLUMBIA VP DISCIPLINED CORE FD-1                       | CUSIP: 19766E814<br>LEI: N/A                  | Long             | EC               | RF                | US        |    193160 | NS      | $25008378.85  | 1.27%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP INTERMED BOND FD CL 1                       | COLUMBIA VP INTERMED BOND FD CL 1                       | CUSIP: 19766E871<br>LEI: N/A                  | Long             | EC               | RF                | US        |  21449014 | NS      | $184461516.54 | 9.36%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA SHORT TERM CASH FUND                           | COLUMBIA SHORT TERM CASH FUND                           | CUSIP: 19766H239<br>LEI: N/A                  | Long             | STIV             | RF                | US        | 114752185 | NS      | $114717759.42 | 5.82%             |  |  |  | No            | 1                  | On Loan: No      |
| CTIVP - WESTFIELD MID CAP GRTH CL1                      | CTIVP - WESTFIELD MID CAP GRTH CL1                      | CUSIP: 19766L107<br>LEI: N/A                  | Long             | EC               | RF                | US        |     98163 | NS      | $5692446.80   | 0.29%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - WELLINGTON LG CAP VAL FD 1                      | CTIVP - WELLINGTON LG CAP VAL FD 1                      | CUSIP: 19766L305<br>LEI: N/A                  | Long             | EC               | RF                | US        |    265724 | NS      | $13679496.69  | 0.69%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP SEL LARGE CAP EQ FD 1                       | COLUMBIA VP SEL LARGE CAP EQ FD 1                       | CUSIP: 19766L495<br>LEI: N/A                  | Long             | EC               | RF                | US        |   3011457 | NS      | $80978069.35  | 4.11%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP EM BOND FUND-1                              | COLUMBIA VP EM BOND FUND-1                              | CUSIP: 19766L586<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2319718 | NS      | $19694404.75  | 1.00%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - WESTFIELD SELECT LARGE CAP GROWTH FUND          | CTIVP - WESTFIELD SELECT LARGE CAP GROWTH FUND          | CUSIP: 19766L610<br>LEI: N/A                  | Long             | EC               | RF                | US        |    383514 | NS      | $26562154.71  | 1.35%             |  |  |  | No            | N/A                | On Loan: No      |
| VP - PARTNERS INTL CORE EQUITY FD CL1                   | VP - PARTNERS INTL CORE EQUITY FD CL1                   | CUSIP: 19766L727<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2804478 | NS      | $35280338.07  | 1.79%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - TCW CORE PLUS BOND FD CL1                       | CTIVP - TCW CORE PLUS BOND FD CL1                       | CUSIP: 19766L743<br>LEI: N/A                  | Long             | EC               | RF                | US        |  19423621 | NS      | $180833908.34 | 9.18%             |  |  |  | No            | N/A                | On Loan: No      |
| VP - PARTNERS SMALL CAP VALUE-1                         | VP - PARTNERS SMALL CAP VALUE-1                         | CUSIP: 19766L776<br>LEI: N/A                  | Long             | EC               | RF                | US        |    101347 | NS      | $4276825.17   | 0.22%             |  |  |  | No            | N/A                | On Loan: No      |
| VP - PARTNERS SM CAP GR                                 | VP - PARTNERS SM CAP GR                                 | CUSIP: 19766L792<br>LEI: N/A                  | Long             | EC               | RF                | US        |    152965 | NS      | $5717849.79   | 0.29%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - T ROWE LRG CAP VAL CL1                          | CTIVP - T ROWE LRG CAP VAL CL1                          | CUSIP: 19766L826<br>LEI: N/A                  | Long             | EC               | RF                | US        |    737789 | NS      | $32573399.23  | 1.65%             |  |  |  | No            | N/A                | On Loan: No      |
| Euronext NV                                             | CAC40 10 EURO JAN 26                                    | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | N/A              | DE               |  | FR        |        74 | NC      | $8183.53      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                             | S&P500 EMINI MAR 26                                     | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       182 | NC      | $26402.81     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Meff Financial Derivatives                              | IBEX 35 INDEX JAN 26                                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | ES        |        39 | NC      | $134202.87    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures U.S., Inc.                                  | MSCI EMER MKT INDEX (ICE) MAR 26                        | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |      -100 | NC      | $-127256.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures U.S., Inc.                                  | MSCI EAFE INDEX MAR 26                                  | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |        22 | NC      | $5486.80      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Montreal Exchange / Bourse De Montreal              | S&P/TSE 60 INDEX MAR 26                                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | CA        |        47 | NC      | $55966.66     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                             | RUSSELL 2000 EMINI CME MAR 26                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        65 | NC      | $-246186.20   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Italian Derivatives Market                              | FTSE/MIB INDEX MAR 26                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | IT        |       -55 | NC      | $-257400.32   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR NOTE MAR 26                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       349 | NC      | $-209637.32   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                       | EURO STOXX 50 MAR 26                                    | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |      -343 | NC      | $-248961.59   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US ULTRA T-BOND MAR 26                                  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        74 | NC      | $-168940.67   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division        | FTSE 100 INDEX MAR 26                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | GB        |       -91 | NC      | $-187299.13   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2026-02-02

**Name of Applicant:** Columbia Funds Variable Series Trust II

**Signature:** Jennifer Borges

**Name of Signer:** Jennifer Borges

**Title:** Senior Manager