# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001410368-26-055093
**Filing Date:** 2026-5
**Character Count:** 207130
**Document Hash:** 683ff99dfb7802f2fc2a3a635148466c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-055093.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001410368-26-055093

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**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:** 261033099

**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 - Managed Volatility Moderate Growth Fund (Series ID: S000036785)

| Class ID   | Class Name                                                           | Ticker Symbol   |
|:---|:---|:---|
| C000112515 | Variable Portfolio - Managed Volatility Moderate Growth Fund Class 2 |  |
| C000209990 | Variable Portfolio - Managed Volatility Moderate Growth Fund Class 1 |  |

## Nport-Ex

![](imgbdb630061.jpg)

Variable Portfolio – Managed Volatility Moderate Growth Fund

**First Quarter Report**

March 31, 2026 (Unaudited)

Please remember that you may not buy (nor will you own) shares of the Fund directly. The Fund is available through variable annuity contracts and variable life insurance policies offered by the separate accounts of participating insurance companies as well as qualified pension and retirement plans. Please contact your financial advisor or insurance representative for more information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

Portfolio of Investments

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes 0.4%** | **Corporate Bonds & Notes 0.4%** | **Corporate Bonds & Notes 0.4%** | **Corporate Bonds & Notes 0.4%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Aerospace & Defense 0.0%** | **Aerospace & Defense 0.0%** | **Aerospace & Defense 0.0%** | **Aerospace & Defense 0.0%** |
| BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  |
| 03/26/2034 | &nbsp;&nbsp; 5.300% | 556000 | &nbsp;&nbsp; 569435 |
| Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) |
| 08/01/2059 | &nbsp;&nbsp; 3.950% | 878000 | &nbsp;&nbsp; 603791 |
| 05/01/2060 | &nbsp;&nbsp; 5.930% | 80000 | &nbsp;&nbsp; 77013 |
| L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. |
| 06/01/2034 | &nbsp;&nbsp; 5.350% | 334000 | &nbsp;&nbsp; 339840 |
| Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. |
| 06/15/2050 | &nbsp;&nbsp; 2.800% | 255000 | &nbsp;&nbsp; 158970 |
| Northrop Grumman Corp. | Northrop Grumman Corp. | Northrop Grumman Corp. | Northrop Grumman Corp. |
| 06/01/2043 | &nbsp;&nbsp; 4.750% | 375000 | &nbsp;&nbsp; 338901 |
| 10/15/2047 | &nbsp;&nbsp; 4.030% | 295000 | &nbsp;&nbsp; 231992 |
| Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. |
| 02/27/2053 | &nbsp;&nbsp; 5.375% | 319000 | &nbsp;&nbsp; 298896 |
| United Technologies Corp. | United Technologies Corp. | United Technologies Corp. | United Technologies Corp. |
| 07/15/2038 | &nbsp;&nbsp; 6.125% | 380000 | &nbsp;&nbsp; 408650 |
| 11/01/2046 | &nbsp;&nbsp; 3.750% | 70000 | &nbsp;&nbsp; 53210 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3080698** |
| **Banking 0.1%** | **Banking 0.1%** | **Banking 0.1%** | **Banking 0.1%** |
| Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  |
| 03/20/2051 | &nbsp;&nbsp; 4.083% | 1075000 | &nbsp;&nbsp; 830831 |
| Barclays PLC<sup>(b)</sup>  | Barclays PLC<sup>(b)</sup>  | Barclays PLC<sup>(b)</sup>  | Barclays PLC<sup>(b)</sup>  |
| 02/24/2037 | &nbsp;&nbsp; 5.207% | 200000 | &nbsp;&nbsp; 193520 |
| Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
| 07/23/2048 | &nbsp;&nbsp; 4.650% | 230000 | &nbsp;&nbsp; 194741 |
| Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 02/13/2035 | &nbsp;&nbsp; 5.827% | 205000 | &nbsp;&nbsp; 207598 |
| Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  |
| 11/19/2045 | &nbsp;&nbsp; 5.561% | 280000 | &nbsp;&nbsp; 268890 |
| 01/28/2056 | &nbsp;&nbsp; 5.734% | 410000 | &nbsp;&nbsp; 399045 |
| HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  |
| 03/10/2037 | &nbsp;&nbsp; 5.279% | 897000 | &nbsp;&nbsp; 880664 |
| JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  |
| 11/15/2048 | &nbsp;&nbsp; 3.964% | 1120000 | &nbsp;&nbsp; 869287 |
| Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  |
| 03/13/2047 | &nbsp;&nbsp; 5.900% | 871000 | &nbsp;&nbsp; 867232 |
| US Bancorp<sup>(b)</sup>  | US Bancorp<sup>(b)</sup>  | US Bancorp<sup>(b)</sup>  | US Bancorp<sup>(b)</sup>  |
| 01/26/2037 | &nbsp;&nbsp; 5.033% | 130000 | &nbsp;&nbsp; 128341 |
| Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  |
| 04/04/2051 | &nbsp;&nbsp; 5.013% | 595000 | &nbsp;&nbsp; 525036 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5365185** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Building Materials 0.0%** | **Building Materials 0.0%** | **Building Materials 0.0%** | **Building Materials 0.0%** |
| JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  |
| 07/31/2032 | &nbsp;&nbsp; 6.125% | 230000 | &nbsp;&nbsp; 229684 |
| **Cable and Satellite 0.0%** | **Cable and Satellite 0.0%** | **Cable and Satellite 0.0%** | **Cable and Satellite 0.0%** |
| Charter Communications Operating LLC | Charter Communications Operating LLC | Charter Communications Operating LLC | Charter Communications Operating LLC |
| 06/30/2062 | &nbsp;&nbsp; 3.950% | 414000 | &nbsp;&nbsp; 243705 |
| Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital |
| 05/01/2047 | &nbsp;&nbsp; 5.375% | 730000 | &nbsp;&nbsp; 587221 |
| Comcast Corp. | Comcast Corp. | Comcast Corp. | Comcast Corp. |
| 05/15/2053 | &nbsp;&nbsp; 5.350% | 95000 | &nbsp;&nbsp; 83884 |
| 11/01/2056 | &nbsp;&nbsp; 2.937% | 858000 | &nbsp;&nbsp; 476364 |
| NBCUniversal Media LLC | NBCUniversal Media LLC | NBCUniversal Media LLC | NBCUniversal Media LLC |
| 01/15/2043 | &nbsp;&nbsp; 4.450% | 326000 | &nbsp;&nbsp; 270765 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1661939** |
| **Chemicals 0.0%** | **Chemicals 0.0%** | **Chemicals 0.0%** | **Chemicals 0.0%** |
| Dow Chemical Co. (The) | Dow Chemical Co. (The) | Dow Chemical Co. (The) | Dow Chemical Co. (The) |
| 03/15/2055 | &nbsp;&nbsp; 5.950% | 110000 | &nbsp;&nbsp; 99296 |
| LYB International Finance III LLC | LYB International Finance III LLC | LYB International Finance III LLC | LYB International Finance III LLC |
| 04/01/2051 | &nbsp;&nbsp; 3.625% | 535000 | &nbsp;&nbsp; 344675 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **443971** |
| **Construction Machinery 0.0%** | **Construction Machinery 0.0%** | **Construction Machinery 0.0%** | **Construction Machinery 0.0%** |
| United Rentals North America, Inc. | United Rentals North America, Inc. | United Rentals North America, Inc. | United Rentals North America, Inc. |
| 02/15/2031 | &nbsp;&nbsp; 3.875% | 190000 | &nbsp;&nbsp; 178690 |
| **Diversified Manufacturing 0.0%** | **Diversified Manufacturing 0.0%** | **Diversified Manufacturing 0.0%** | **Diversified Manufacturing 0.0%** |
| Carrier Global Corp. | Carrier Global Corp. | Carrier Global Corp. | Carrier Global Corp. |
| 04/05/2040 | &nbsp;&nbsp; 3.377% | 380000 | &nbsp;&nbsp; 299267 |
| Siemens Funding BV<sup>(a)</sup>  | Siemens Funding BV<sup>(a)</sup>  | Siemens Funding BV<sup>(a)</sup>  | Siemens Funding BV<sup>(a)</sup>  |
| 05/28/2035 | &nbsp;&nbsp; 5.200% | 239000 | &nbsp;&nbsp; 244475 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **543742** |
| **Electric 0.1%** | **Electric 0.1%** | **Electric 0.1%** | **Electric 0.1%** |
| AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. |
| 01/15/2050 | &nbsp;&nbsp; 3.450% | 717000 | &nbsp;&nbsp; 479486 |
| 05/15/2051 | &nbsp;&nbsp; 3.450% | 235000 | &nbsp;&nbsp; 155558 |
| Ameren Corp. | Ameren Corp. | Ameren Corp. | Ameren Corp. |
| 05/15/2036 | &nbsp;&nbsp; 5.000% | 405000 | &nbsp;&nbsp; 394077 |
| CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC | CenterPoint Energy Houston Electric LLC |
| 08/15/2035 | &nbsp;&nbsp; 4.950% | 121000 | &nbsp;&nbsp; 119869 |
| Consolidated Edison Co of New York, Inc. | Consolidated Edison Co of New York, Inc. | Consolidated Edison Co of New York, Inc. | Consolidated Edison Co of New York, Inc. |
| 11/15/2055 | &nbsp;&nbsp; 5.750% | 77000 | &nbsp;&nbsp; 76028 |

---

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Consolidated Edison Co. of New York, Inc. | Consolidated Edison Co. of New York, Inc. | Consolidated Edison Co. of New York, Inc. | Consolidated Edison Co. of New York, Inc. |
| 11/15/2053 | &nbsp;&nbsp; 5.900% | 169000 | &nbsp;&nbsp; 169231 |
| 03/15/2055 | &nbsp;&nbsp; 5.500% | 195000 | &nbsp;&nbsp; 185633 |
| DTE Electric Co. | DTE Electric Co. | DTE Electric Co. | DTE Electric Co. |
| 03/01/2056 | &nbsp;&nbsp; 5.550% | 255000 | &nbsp;&nbsp; 246503 |
| Duke Energy Carolinas LLC | Duke Energy Carolinas LLC | Duke Energy Carolinas LLC | Duke Energy Carolinas LLC |
| 03/15/2052 | &nbsp;&nbsp; 3.550% | 290000 | &nbsp;&nbsp; 204258 |
| Duke Energy Indiana LLC | Duke Energy Indiana LLC | Duke Energy Indiana LLC | Duke Energy Indiana LLC |
| 04/01/2050 | &nbsp;&nbsp; 2.750% | 195000 | &nbsp;&nbsp; 118458 |
| 04/01/2053 | &nbsp;&nbsp; 5.400% | 674000 | &nbsp;&nbsp; 628481 |
| Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC |
| 04/15/2056 | &nbsp;&nbsp; 5.650% | 125000 | &nbsp;&nbsp; 120169 |
| Entergy Mississippi LLC | Entergy Mississippi LLC | Entergy Mississippi LLC | Entergy Mississippi LLC |
| 04/15/2055 | &nbsp;&nbsp; 5.800% | 102000 | &nbsp;&nbsp; 100599 |
| Eversource Energy | Eversource Energy | Eversource Energy | Eversource Energy |
| 07/15/2034 | &nbsp;&nbsp; 5.950% | 340000 | &nbsp;&nbsp; 354375 |
| Exelon Corp. | Exelon Corp. | Exelon Corp. | Exelon Corp. |
| 03/15/2052 | &nbsp;&nbsp; 4.100% | 1069000 | &nbsp;&nbsp; 807526 |
| FirstEnergy Corp. | FirstEnergy Corp. | FirstEnergy Corp. | FirstEnergy Corp. |
| 03/01/2050 | &nbsp;&nbsp; 3.400% | 288000 | &nbsp;&nbsp; 192415 |
| FirstEnergy Transmission LLC | FirstEnergy Transmission LLC | FirstEnergy Transmission LLC | FirstEnergy Transmission LLC |
| 01/15/2035 | &nbsp;&nbsp; 5.000% | 80000 | &nbsp;&nbsp; 78777 |
| Florida Power & Light Co. | Florida Power & Light Co. | Florida Power & Light Co. | Florida Power & Light Co. |
| 03/15/2055 | &nbsp;&nbsp; 5.700% | 514000 | &nbsp;&nbsp; 511869 |
| MidAmerican Energy Co. | MidAmerican Energy Co. | MidAmerican Energy Co. | MidAmerican Energy Co. |
| 02/01/2055 | &nbsp;&nbsp; 5.300% | 135000 | &nbsp;&nbsp; 125234 |
| Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC |
| 05/15/2050 | &nbsp;&nbsp; 3.700% | 200000 | &nbsp;&nbsp; 144821 |
| Oncor Electric Delivery Co. LLC<sup>(a)</sup>  | Oncor Electric Delivery Co. LLC<sup>(a)</sup>  | Oncor Electric Delivery Co. LLC<sup>(a)</sup>  | Oncor Electric Delivery Co. LLC<sup>(a)</sup>  |
| 03/15/2056 | &nbsp;&nbsp; 5.900% | 165000 | &nbsp;&nbsp; 164856 |
| Pacific Gas and Electric Co. | Pacific Gas and Electric Co. | Pacific Gas and Electric Co. | Pacific Gas and Electric Co. |
| 07/01/2050 | &nbsp;&nbsp; 4.950% | 480000 | &nbsp;&nbsp; 398705 |
| PacifiCorp | PacifiCorp | PacifiCorp | PacifiCorp |
| 06/15/2052 | &nbsp;&nbsp; 2.900% | 220000 | &nbsp;&nbsp; 125052 |
| Public Service Electric and Gas Co. | Public Service Electric and Gas Co. | Public Service Electric and Gas Co. | Public Service Electric and Gas Co. |
| 01/01/2056 | &nbsp;&nbsp; 5.625% | 171000 | &nbsp;&nbsp; 168468 |
| Virginia Electric and Power Co. | Virginia Electric and Power Co. | Virginia Electric and Power Co. | Virginia Electric and Power Co. |
| 03/15/2036 | &nbsp;&nbsp; 4.950% | 920000 | &nbsp;&nbsp; 896444 |
| Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. |
| 12/01/2049 | &nbsp;&nbsp; 3.500% | 525000 | &nbsp;&nbsp; 366921 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7333813** |
| **Food and Beverage 0.0%** | **Food and Beverage 0.0%** | **Food and Beverage 0.0%** | **Food and Beverage 0.0%** |
| Anheuser-Busch Companies LLC/InBev Worldwide, Inc. | Anheuser-Busch Companies LLC/InBev Worldwide, Inc. | Anheuser-Busch Companies LLC/InBev Worldwide, Inc. | Anheuser-Busch Companies LLC/InBev Worldwide, Inc. |
| 02/01/2046 | &nbsp;&nbsp; 4.900% | 678000 | &nbsp;&nbsp; 611303 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  |
| 05/15/2038 | &nbsp;&nbsp; 5.150% | 636000 | &nbsp;&nbsp; 589876 |
| 05/15/2048 | &nbsp;&nbsp; 5.300% | 146000 | &nbsp;&nbsp; 126696 |
| Bacardi-Martini BV<sup>(a)</sup>  | Bacardi-Martini BV<sup>(a)</sup>  | Bacardi-Martini BV<sup>(a)</sup>  | Bacardi-Martini BV<sup>(a)</sup>  |
| 02/01/2035 | &nbsp;&nbsp; 6.000% | 119000 | &nbsp;&nbsp; 120530 |
| Campbell Soup Co. | Campbell Soup Co. | Campbell Soup Co. | Campbell Soup Co. |
| 04/24/2050 | &nbsp;&nbsp; 3.125% | 32000 | &nbsp;&nbsp; 19149 |
| Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. | Conagra Brands, Inc. |
| 11/01/2048 | &nbsp;&nbsp; 5.400% | 125000 | &nbsp;&nbsp; 106130 |
| Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. |
| 04/15/2052 | &nbsp;&nbsp; 4.500% | 55000 | &nbsp;&nbsp; 42742 |
| Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
| 06/01/2046 | &nbsp;&nbsp; 4.375% | 103000 | &nbsp;&nbsp; 80352 |
| Kraft Heinz Foods Co. (The) | Kraft Heinz Foods Co. (The) | Kraft Heinz Foods Co. (The) | Kraft Heinz Foods Co. (The) |
| 07/15/2045 | &nbsp;&nbsp; 5.200% | 425000 | &nbsp;&nbsp; 371091 |
| PepsiCo., Inc. | PepsiCo., Inc. | PepsiCo., Inc. | PepsiCo., Inc. |
| 02/15/2053 | &nbsp;&nbsp; 4.650% | 195000 | &nbsp;&nbsp; 168409 |
| Tyson Foods, Inc. | Tyson Foods, Inc. | Tyson Foods, Inc. | Tyson Foods, Inc. |
| 09/28/2048 | &nbsp;&nbsp; 5.100% | 135000 | &nbsp;&nbsp; 121385 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2357663** |
| **Health Care 0.0%** | **Health Care 0.0%** | **Health Care 0.0%** | **Health Care 0.0%** |
| Abbott Laboratories | Abbott Laboratories | Abbott Laboratories | Abbott Laboratories |
| 03/15/2056 | &nbsp;&nbsp; 5.500% | 450000 | &nbsp;&nbsp; 441286 |
| Cigna Corp. | Cigna Corp. | Cigna Corp. | Cigna Corp. |
| 03/15/2050 | &nbsp;&nbsp; 3.400% | 402000 | &nbsp;&nbsp; 274825 |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| 07/20/2045 | &nbsp;&nbsp; 5.125% | 730000 | &nbsp;&nbsp; 642195 |
| GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. |
| 06/15/2035 | &nbsp;&nbsp; 5.500% | 120000 | &nbsp;&nbsp; 122371 |
| 12/15/2035 | &nbsp;&nbsp; 4.950% | 121000 | &nbsp;&nbsp; 118780 |
| HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. |
| 03/15/2052 | &nbsp;&nbsp; 4.625% | 634000 | &nbsp;&nbsp; 504589 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2104046** |
| **Healthcare Insurance 0.0%** | **Healthcare Insurance 0.0%** | **Healthcare Insurance 0.0%** | **Healthcare Insurance 0.0%** |
| UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
| 04/15/2054 | &nbsp;&nbsp; 5.375% | 1193000 | &nbsp;&nbsp; 1096280 |
| **Independent Energy 0.0%** | **Independent Energy 0.0%** | **Independent Energy 0.0%** | **Independent Energy 0.0%** |
| APA Corp. | APA Corp. | APA Corp. | APA Corp. |
| 02/15/2055 | &nbsp;&nbsp; 6.750% | 187000 | &nbsp;&nbsp; 187881 |
| Diamondback Energy, Inc. | Diamondback Energy, Inc. | Diamondback Energy, Inc. | Diamondback Energy, Inc. |
| 04/18/2064 | &nbsp;&nbsp; 5.900% | 172000 | &nbsp;&nbsp; 163353 |
| Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. |
| 10/01/2054 | &nbsp;&nbsp; 6.050% | 349000 | &nbsp;&nbsp; 339009 |

---

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. |
| 05/19/2035 | &nbsp;&nbsp; 6.000% | 93000 | &nbsp;&nbsp; 96836 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **787079** |
| **Integrated Energy 0.0%** | **Integrated Energy 0.0%** | **Integrated Energy 0.0%** | **Integrated Energy 0.0%** |
| BP Capital Markets America, Inc. | BP Capital Markets America, Inc. | BP Capital Markets America, Inc. | BP Capital Markets America, Inc. |
| 03/17/2052 | &nbsp;&nbsp; 3.001% | 469000 | &nbsp;&nbsp; 296927 |
| Total Capital International SA | Total Capital International SA | Total Capital International SA | Total Capital International SA |
| 06/29/2060 | &nbsp;&nbsp; 3.386% | 80000 | &nbsp;&nbsp; 51305 |
| TotalEnergies Capital SA | TotalEnergies Capital SA | TotalEnergies Capital SA | TotalEnergies Capital SA |
| 04/05/2064 | &nbsp;&nbsp; 5.638% | 209000 | &nbsp;&nbsp; 200894 |
| 09/10/2064 | &nbsp;&nbsp; 5.425% | 90000 | &nbsp;&nbsp; 83659 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **632785** |
| **Life Insurance 0.0%** | **Life Insurance 0.0%** | **Life Insurance 0.0%** | **Life Insurance 0.0%** |
| New York Life Insurance Co.<sup>(a)</sup>  | New York Life Insurance Co.<sup>(a)</sup>  | New York Life Insurance Co.<sup>(a)</sup>  | New York Life Insurance Co.<sup>(a)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 05/15/2050 | &nbsp;&nbsp; 3.750% | 600000 | &nbsp;&nbsp; 436209 |
| Northwestern Mutual Life Insurance Co. (The)<sup>(a)</sup>  | Northwestern Mutual Life Insurance Co. (The)<sup>(a)</sup>  | Northwestern Mutual Life Insurance Co. (The)<sup>(a)</sup>  | Northwestern Mutual Life Insurance Co. (The)<sup>(a)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 05/29/2055 | &nbsp;&nbsp; 6.170% | 148000 | &nbsp;&nbsp; 151996 |
| 09/30/2059 | &nbsp;&nbsp; 3.625% | 274000 | &nbsp;&nbsp; 185556 |
| Peachtree Corners Funding Trust II<sup>(a)</sup>  | Peachtree Corners Funding Trust II<sup>(a)</sup>  | Peachtree Corners Funding Trust II<sup>(a)</sup>  | Peachtree Corners Funding Trust II<sup>(a)</sup>  |
| 05/15/2035 | &nbsp;&nbsp; 6.012% | 100000 | &nbsp;&nbsp; 102319 |
| Teachers Insurance & Annuity Association of America<sup>(a)</sup>  | Teachers Insurance & Annuity Association of America<sup>(a)</sup>  | Teachers Insurance & Annuity Association of America<sup>(a)</sup>  | Teachers Insurance & Annuity Association of America<sup>(a)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 09/15/2044 | &nbsp;&nbsp; 4.900% | 155000 | &nbsp;&nbsp; 138396 |
| 05/15/2050 | &nbsp;&nbsp; 3.300% | 283000 | &nbsp;&nbsp; 189256 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1203732** |
| **Media and Entertainment 0.0%** | **Media and Entertainment 0.0%** | **Media and Entertainment 0.0%** | **Media and Entertainment 0.0%** |
| Fox Corp. | Fox Corp. | Fox Corp. | Fox Corp. |
| 01/25/2049 | &nbsp;&nbsp; 5.576% | 110000 | &nbsp;&nbsp; 101128 |
| Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. |
| 05/15/2063 | &nbsp;&nbsp; 5.750% | 275000 | &nbsp;&nbsp; 255214 |
| 11/15/2065 | &nbsp;&nbsp; 5.750% | 576000 | &nbsp;&nbsp; 534204 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **890546** |
| **Midstream 0.0%** | **Midstream 0.0%** | **Midstream 0.0%** | **Midstream 0.0%** |
| Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. |
| 04/05/2034 | &nbsp;&nbsp; 5.625% | 245000 | &nbsp;&nbsp; 252884 |
| Energy Transfer LP | Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
| 05/15/2054 | &nbsp;&nbsp; 5.950% | 438000 | &nbsp;&nbsp; 411115 |
| 09/01/2054 | &nbsp;&nbsp; 6.050% | 150000 | &nbsp;&nbsp; 142860 |
| 01/15/2056 | &nbsp;&nbsp; 6.300% | 125000 | &nbsp;&nbsp; 123298 |
| Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC |
| 02/16/2055 | &nbsp;&nbsp; 5.550% | 205000 | &nbsp;&nbsp; 197134 |
| MPLX LP | MPLX LP | MPLX LP | MPLX LP |
| 03/14/2052 | &nbsp;&nbsp; 4.950% | 301000 | &nbsp;&nbsp; 249896 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Western Gas Partners LP | Western Gas Partners LP | Western Gas Partners LP | Western Gas Partners LP |
| 03/01/2048 | &nbsp;&nbsp; 5.300% | 241000 | &nbsp;&nbsp; 203652 |
| Williams Companies, Inc. (The) | Williams Companies, Inc. (The) | Williams Companies, Inc. (The) | Williams Companies, Inc. (The) |
| 06/24/2044 | &nbsp;&nbsp; 5.750% | 330000 | &nbsp;&nbsp; 321551 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1902390** |
| **Natural Gas 0.0%** | **Natural Gas 0.0%** | **Natural Gas 0.0%** | **Natural Gas 0.0%** |
| NiSource, Inc. | NiSource, Inc. | NiSource, Inc. | NiSource, Inc. |
| 02/15/2044 | &nbsp;&nbsp; 4.800% | 249000 | &nbsp;&nbsp; 217279 |
| 05/15/2047 | &nbsp;&nbsp; 4.375% | 170000 | &nbsp;&nbsp; 136928 |
| 04/01/2055 | &nbsp;&nbsp; 5.850% | 200000 | &nbsp;&nbsp; 194119 |
| Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. |
| 04/01/2054 | &nbsp;&nbsp; 5.600% | 135000 | &nbsp;&nbsp; 128776 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **677102** |
| **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** |
| AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
| 11/06/2042 | &nbsp;&nbsp; 4.400% | 516000 | &nbsp;&nbsp; 452843 |
| Amgen, Inc. | Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
| 02/22/2062 | &nbsp;&nbsp; 4.400% | 65000 | &nbsp;&nbsp; 50298 |
| 03/02/2063 | &nbsp;&nbsp; 5.750% | 753000 | &nbsp;&nbsp; 723709 |
| Bristol Myers Squibb Co. | Bristol Myers Squibb Co. | Bristol Myers Squibb Co. | Bristol Myers Squibb Co. |
| 03/15/2052 | &nbsp;&nbsp; 3.700% | 375000 | &nbsp;&nbsp; 270483 |
| Eli Lilly & Co. | Eli Lilly & Co. | Eli Lilly & Co. | Eli Lilly & Co. |
| 10/15/2065 | &nbsp;&nbsp; 5.650% | 305000 | &nbsp;&nbsp; 299686 |
| Johnson & Johnson | Johnson & Johnson | Johnson & Johnson | Johnson & Johnson |
| 03/03/2047 | &nbsp;&nbsp; 3.750% | 290000 | &nbsp;&nbsp; 228796 |
| Merck & Co., Inc. | Merck & Co., Inc. | Merck & Co., Inc. | Merck & Co., Inc. |
| 12/04/2055 | &nbsp;&nbsp; 5.550% | 795000 | &nbsp;&nbsp; 771584 |
| Pfizer, Inc. | Pfizer, Inc. | Pfizer, Inc. | Pfizer, Inc. |
| 12/15/2046 | &nbsp;&nbsp; 4.125% | 613000 | &nbsp;&nbsp; 493553 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3290952** |
| **Property & Casualty 0.0%** | **Property & Casualty 0.0%** | **Property & Casualty 0.0%** | **Property & Casualty 0.0%** |
| Berkshire Hathaway Finance Corp. | Berkshire Hathaway Finance Corp. | Berkshire Hathaway Finance Corp. | Berkshire Hathaway Finance Corp. |
| 03/15/2052 | &nbsp;&nbsp; 3.850% | 185000 | &nbsp;&nbsp; 139147 |
| **Railroads 0.0%** | **Railroads 0.0%** | **Railroads 0.0%** | **Railroads 0.0%** |
| Burlington Northern Santa Fe LLC | Burlington Northern Santa Fe LLC | Burlington Northern Santa Fe LLC | Burlington Northern Santa Fe LLC |
| 03/15/2056 | &nbsp;&nbsp; 5.550% | 687000 | &nbsp;&nbsp; 666332 |
| Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. |
| 12/02/2051 | &nbsp;&nbsp; 3.100% | 165000 | &nbsp;&nbsp; 107968 |
| 03/15/2056 | &nbsp;&nbsp; 5.500% | 205000 | &nbsp;&nbsp; 196028 |
| Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. |
| 08/25/2051 | &nbsp;&nbsp; 2.900% | 245000 | &nbsp;&nbsp; 150269 |
| 08/15/2052 | &nbsp;&nbsp; 4.050% | 392000 | &nbsp;&nbsp; 297064 |

---

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Union Pacific Corp. | Union Pacific Corp. | Union Pacific Corp. | Union Pacific Corp. |
| 02/05/2050 | &nbsp;&nbsp; 3.250% | 713000 | &nbsp;&nbsp; 483498 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1901159** |
| **Restaurants 0.0%** | **Restaurants 0.0%** | **Restaurants 0.0%** | **Restaurants 0.0%** |
| McDonald's Corp. | McDonald's Corp. | McDonald's Corp. | McDonald's Corp. |
| 09/01/2049 | &nbsp;&nbsp; 3.625% | 255000 | &nbsp;&nbsp; 183578 |
| 04/01/2050 | &nbsp;&nbsp; 4.200% | 115000 | &nbsp;&nbsp; 90690 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **274268** |
| **Retailers 0.0%** | **Retailers 0.0%** | **Retailers 0.0%** | **Retailers 0.0%** |
| Amazon.com, Inc. | Amazon.com, Inc. | Amazon.com, Inc. | Amazon.com, Inc. |
| 05/12/2051 | &nbsp;&nbsp; 3.100% | 831000 | &nbsp;&nbsp; 542125 |
| 03/13/2056 | &nbsp;&nbsp; 5.800% | 185000 | &nbsp;&nbsp; 184548 |
| Lowe's Companies, Inc. | Lowe's Companies, Inc. | Lowe's Companies, Inc. | Lowe's Companies, Inc. |
| 04/01/2052 | &nbsp;&nbsp; 4.250% | 553000 | &nbsp;&nbsp; 423526 |
| 04/01/2062 | &nbsp;&nbsp; 4.450% | 180000 | &nbsp;&nbsp; 136183 |
| Walmart, Inc. | Walmart, Inc. | Walmart, Inc. | Walmart, Inc. |
| 09/22/2051 | &nbsp;&nbsp; 2.650% | 160000 | &nbsp;&nbsp; 98529 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1384911** |
| **Supermarkets 0.0%** | **Supermarkets 0.0%** | **Supermarkets 0.0%** | **Supermarkets 0.0%** |
| Kroger Co. (The) | Kroger Co. (The) | Kroger Co. (The) | Kroger Co. (The) |
| 09/15/2064 | &nbsp;&nbsp; 5.650% | 338000 | &nbsp;&nbsp; 314035 |
| **Technology 0.1%** | **Technology 0.1%** | **Technology 0.1%** | **Technology 0.1%** |
| Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. |
| 02/15/2056 | &nbsp;&nbsp; 5.650% | 655000 | &nbsp;&nbsp; 652394 |
| 02/15/2066 | &nbsp;&nbsp; 5.750% | 128000 | &nbsp;&nbsp; 126749 |
| Apple, Inc. | Apple, Inc. | Apple, Inc. | Apple, Inc. |
| 02/08/2051 | &nbsp;&nbsp; 2.650% | 801000 | &nbsp;&nbsp; 485190 |
| Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  |
| 11/15/2036 | &nbsp;&nbsp; 3.187% | 745000 | &nbsp;&nbsp; 622657 |
| Cisco Systems, Inc. | Cisco Systems, Inc. | Cisco Systems, Inc. | Cisco Systems, Inc. |
| 02/24/2055 | &nbsp;&nbsp; 5.500% | 140000 | &nbsp;&nbsp; 135608 |
| Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  |
| 01/25/2034 | &nbsp;&nbsp; 5.875% | 200000 | &nbsp;&nbsp; 202824 |
| 01/25/2038 | &nbsp;&nbsp; 6.400% | 200000 | &nbsp;&nbsp; 209171 |
| Intel Corp. | Intel Corp. | Intel Corp. | Intel Corp. |
| 08/12/2051 | &nbsp;&nbsp; 3.050% | 585000 | &nbsp;&nbsp; 354233 |
| International Business Machines Corp. | International Business Machines Corp. | International Business Machines Corp. | International Business Machines Corp. |
| 02/10/2055 | &nbsp;&nbsp; 5.700% | 220000 | &nbsp;&nbsp; 207650 |
| NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. |
| 05/11/2041 | &nbsp;&nbsp; 3.250% | 215000 | &nbsp;&nbsp; 158196 |
| 02/15/2042 | &nbsp;&nbsp; 3.125% | 169000 | &nbsp;&nbsp; 119693 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. |
| 07/15/2046 | &nbsp;&nbsp; 4.000% | 385000 | &nbsp;&nbsp; 259612 |
| 04/01/2050 | &nbsp;&nbsp; 3.600% | 449000 | &nbsp;&nbsp; 270879 |
| 02/06/2053 | &nbsp;&nbsp; 5.550% | 543000 | &nbsp;&nbsp; 433136 |
| 09/26/2065 | &nbsp;&nbsp; 6.100% | 75000 | &nbsp;&nbsp; 62164 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **4300156** |
| **Tobacco 0.0%** | **Tobacco 0.0%** | **Tobacco 0.0%** | **Tobacco 0.0%** |
| BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. |
| 08/02/2043 | &nbsp;&nbsp; 7.079% | 248000 | &nbsp;&nbsp; 272844 |
| **Wireless 0.0%** | **Wireless 0.0%** | **Wireless 0.0%** | **Wireless 0.0%** |
| T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. |
| 04/15/2050 | &nbsp;&nbsp; 4.500% | 115000 | &nbsp;&nbsp; 92832 |
| T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
| 02/15/2056 | &nbsp;&nbsp; 5.850% | 342000 | &nbsp;&nbsp; 331781 |
| Vodafone Group PLC | Vodafone Group PLC | Vodafone Group PLC | Vodafone Group PLC |
| 06/28/2064 | &nbsp;&nbsp; 5.875% | 240000 | &nbsp;&nbsp; 227124 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **651737** |
| **Wirelines 0.0%** | **Wirelines 0.0%** | **Wirelines 0.0%** | **Wirelines 0.0%** |
| AT&T, Inc. | AT&T, Inc. | AT&T, Inc. | AT&T, Inc. |
| 12/01/2057 | &nbsp;&nbsp; 3.800% | 1545000 | &nbsp;&nbsp; 1040928 |
| Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
| 03/22/2041 | &nbsp;&nbsp; 3.400% | 855000 | &nbsp;&nbsp; 657458 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1698386** |
| &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $47,908,902) | &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $47,908,902) | &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $47,908,902) | &nbsp;&nbsp; **44716940** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Equity Funds 46.5%** | **Equity Funds 46.5%** | **Equity Funds 46.5%** |
|  | **Shares** | **Value ($)** |
| **International 14.1%** | **International 14.1%** | **International 14.1%** |
| &nbsp;&nbsp; Columbia Variable Portfolio – Overseas Core <br> Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 41937089 | &nbsp;&nbsp; 709156170 |
| &nbsp;&nbsp; Variable Portfolio – Partners International Core <br> Equity Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 31366608 | &nbsp;&nbsp; 372948968 |
| &nbsp;&nbsp; Variable Portfolio – Partners International <br> Growth Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 17939693 | &nbsp;&nbsp; 227475305 |
| &nbsp;&nbsp; Variable Portfolio – Partners International <br> Value Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 17761990 | &nbsp;&nbsp; 231438737 |
| **Total** | **Total** | &nbsp;&nbsp; **1541019180** |

---

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Equity Funds (continued)** | **Equity Funds (continued)** | **Equity Funds (continued)** |
|  | **Shares** | **Value ($)** |
| **U.S. Large Cap 28.9%** | **U.S. Large Cap 28.9%** | **U.S. Large Cap 28.9%** |
| &nbsp;&nbsp; Columbia Variable Portfolio – Contrarian Core <br> Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 3033609 | &nbsp;&nbsp; 181834546 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Disciplined Core <br> Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 4504224 | &nbsp;&nbsp; 554244735 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Large Cap <br> Growth Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 5561291 | &nbsp;&nbsp; 286128412 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Select Large Cap <br> Equity Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 21827863 | &nbsp;&nbsp; 551371827 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Select Large Cap <br> Value Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 5325139 | &nbsp;&nbsp; 306195505 |
| &nbsp;&nbsp; CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, <br> Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 3245143 | &nbsp;&nbsp; 232936351 |
| &nbsp;&nbsp; CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, <br> Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 5708887 | &nbsp;&nbsp; 256956980 |
| &nbsp;&nbsp; CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, <br> Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 5076694 | &nbsp;&nbsp; 253885465 |
| &nbsp;&nbsp; CTIVP<sup>®</sup> – Westfield Select Large Cap Growth <br> Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 3823957 | &nbsp;&nbsp; 247715948 |
| &nbsp;&nbsp; Variable Portfolio – Partners Core Equity Fund, <br> Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 5693391 | &nbsp;&nbsp; 281025787 |
| **Total** | **Total** | &nbsp;&nbsp; **3152295556** |
| **U.S. Mid Cap 1.4%** | **U.S. Mid Cap 1.4%** | **U.S. Mid Cap 1.4%** |
| &nbsp;&nbsp; Columbia Variable Portfolio – Select Mid Cap <br> Growth Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 693149 | &nbsp;&nbsp; 43342609 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Select Mid Cap <br> Value Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 891926 | &nbsp;&nbsp; 45229562 |
| &nbsp;&nbsp; CTIVP<sup>®</sup> – Victory Sycamore Established Value <br> Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 608262 | &nbsp;&nbsp; 33010391 |
| &nbsp;&nbsp; CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, <br> Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 568128 | &nbsp;&nbsp; 32229867 |
| **Total** | **Total** | &nbsp;&nbsp; **153812429** |
| **U.S. Small Cap 2.1%** | **U.S. Small Cap 2.1%** | **U.S. Small Cap 2.1%** |
| &nbsp;&nbsp; Columbia Variable Portfolio – Small Cap Value <br> Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 2436854 | &nbsp;&nbsp; 31045515 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Small Company <br> Growth Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 2042398 | &nbsp;&nbsp; 29471809 |
| &nbsp;&nbsp; Variable Portfolio – Partners Small Cap Growth <br> Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 2178436 | &nbsp;&nbsp; 82737008 |
| &nbsp;&nbsp; Variable Portfolio – Partners Small Cap Value <br> Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 1884848 | &nbsp;&nbsp; 83291438 |
| **Total** | **Total** | &nbsp;&nbsp; **226545770** |
| &nbsp;&nbsp; Total Equity Funds <br>(Cost $3,077,014,027) | &nbsp;&nbsp; Total Equity Funds <br>(Cost $3,077,014,027) | &nbsp;&nbsp; **5073672935** |

---

---

| | | |
|:---|:---|:---|
| **Exchange-Traded Equity Funds 0.5%** | **Exchange-Traded Equity Funds 0.5%** | **Exchange-Traded Equity Funds 0.5%** |
|  | **Shares** | **Value ($)** |
| **U.S. Mid Large Cap 0.5%** | **U.S. Mid Large Cap 0.5%** | **U.S. Mid Large Cap 0.5%** |
| iShares Core S&P 500 ETF | &nbsp;&nbsp; 22000 | &nbsp;&nbsp; 14370620 |
| Vanguard S&P 500 ETF | &nbsp;&nbsp; 67000 | &nbsp;&nbsp; 40035850 |
| **Total** | **Total** | &nbsp;&nbsp; **54406470** |
| &nbsp;&nbsp; Total Exchange-Traded Equity Funds <br>(Cost $56,792,021) | &nbsp;&nbsp; Total Exchange-Traded Equity Funds <br>(Cost $56,792,021) | &nbsp;&nbsp; **54406470** |
| **Exchange-Traded Fixed Income Funds 7.9%** | **Exchange-Traded Fixed Income Funds 7.9%** | **Exchange-Traded Fixed Income Funds 7.9%** |
| **Investment Grade 7.9%** | **Investment Grade 7.9%** | **Investment Grade 7.9%** |
| iShares Core U.S. Aggregate Bond ETF | &nbsp;&nbsp; 3135000 | &nbsp;&nbsp; 311211450 |
| &nbsp;&nbsp; iShares iBoxx $ Investment Grade Corporate <br> Bond ETF<br>| &nbsp;&nbsp; 1890790 | &nbsp;&nbsp; 206077202 |
| &nbsp;&nbsp; Vanguard Intermediate-Term Corporate Bond <br> ETF<br>| &nbsp;&nbsp; 2156600 | &nbsp;&nbsp; 178458650 |
| Vanguard Total Bond Market ETF | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 162008000 |
| **Total** | **Total** | &nbsp;&nbsp; **857755302** |
| &nbsp;&nbsp; Total Exchange-Traded Fixed Income Funds <br>(Cost $862,156,152) | &nbsp;&nbsp; Total Exchange-Traded Fixed Income Funds <br>(Cost $862,156,152) | &nbsp;&nbsp; **857755302** |
| **Fixed Income Funds 25.9%** | **Fixed Income Funds 25.9%** | **Fixed Income Funds 25.9%** |
| **Investment Grade 25.9%** | **Investment Grade 25.9%** | **Investment Grade 25.9%** |
| &nbsp;&nbsp; Columbia Variable Portfolio – Corporate Bond <br> Fund, Class 1 Shares<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 32564406 | &nbsp;&nbsp; 254653656 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Intermediate <br> Bond Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 63893439 | &nbsp;&nbsp; 549483575 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Limited Duration <br> Credit Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 8770665 | &nbsp;&nbsp; 83496725 |
| &nbsp;&nbsp; Columbia Variable Portfolio – Long <br> Government/Credit Bond Fund, Class 1 <br> Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 23922939 | &nbsp;&nbsp; 168895949 |
| &nbsp;&nbsp; Columbia Variable Portfolio – U.S. Government <br> Mortgage Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 18119440 | &nbsp;&nbsp; 170141546 |
| &nbsp;&nbsp; CTIVP<sup>®</sup> – American Century Diversified Bond <br> Fund, Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 45205595 | &nbsp;&nbsp; 420412036 |
| &nbsp;&nbsp; CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 <br> Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 59093675 | &nbsp;&nbsp; 550162111 |
| &nbsp;&nbsp; Variable Portfolio – Partners Core Bond Fund, <br> Class 1 Shares<sup>(c)</sup> <br>| &nbsp;&nbsp; 64655934 | &nbsp;&nbsp; 631041920 |
| **Total** | **Total** | &nbsp;&nbsp; **2828287518** |
| &nbsp;&nbsp; Total Fixed Income Funds <br>(Cost $3,177,660,326) | &nbsp;&nbsp; Total Fixed Income Funds <br>(Cost $3,177,660,326) | &nbsp;&nbsp; **2828287518** |

---

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency 9.4%** | **Residential Mortgage-Backed Securities - Agency 9.4%** | **Residential Mortgage-Backed Securities - Agency 9.4%** | **Residential Mortgage-Backed Securities - Agency 9.4%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Uniform Mortgage-Backed Security TBA<sup>(e)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(e)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(e)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(e)</sup>  |
| &nbsp;&nbsp; 04/16/2041- <br>04/13/2056<br>| &nbsp;&nbsp; 3.000% | 90352000 | &nbsp;&nbsp; 81072975 |
| &nbsp;&nbsp; 04/16/2041- <br>04/13/2056<br>| &nbsp;&nbsp; 3.500% | 157100000 | &nbsp;&nbsp; 145779109 |
| &nbsp;&nbsp; 04/16/2041- <br>04/13/2056<br>| &nbsp;&nbsp; 4.000% | 203080000 | &nbsp;&nbsp; 193485727 |
| 04/13/2056 | &nbsp;&nbsp; 4.500% | 191650000 | &nbsp;&nbsp; 184943337 |
| 04/13/2056 | &nbsp;&nbsp; 5.000% | 133950000 | &nbsp;&nbsp; 132091664 |
| 04/13/2056 | &nbsp;&nbsp; 5.500% | 140000000 | &nbsp;&nbsp; 140644827 |
| 04/13/2056 | &nbsp;&nbsp; 6.000% | 145000000 | &nbsp;&nbsp; 147802560 |
| &nbsp;&nbsp; Total Residential Mortgage-Backed Securities - Agency <br>(Cost $1,035,028,847) | &nbsp;&nbsp; Total Residential Mortgage-Backed Securities - Agency <br>(Cost $1,035,028,847) | &nbsp;&nbsp; Total Residential Mortgage-Backed Securities - Agency <br>(Cost $1,035,028,847) | &nbsp;&nbsp; **1025820199** |
| **U.S. Treasury Obligations 0.0%** | **U.S. Treasury Obligations 0.0%** | **U.S. Treasury Obligations 0.0%** | **U.S. Treasury Obligations 0.0%** |
| U.S. Treasury | U.S. Treasury | U.S. Treasury | U.S. Treasury |
| 02/15/2045 | &nbsp;&nbsp; 4.750% | 909000 | &nbsp;&nbsp; 893235 |
| 05/15/2045 | &nbsp;&nbsp; 5.000% | 480000 | &nbsp;&nbsp; 486300 |
| 08/15/2045 | &nbsp;&nbsp; 4.875% | 582000 | &nbsp;&nbsp; 580181 |
| 11/15/2045 | &nbsp;&nbsp; 4.625% | 401000 | &nbsp;&nbsp; 386777 |
| 02/15/2046 | &nbsp;&nbsp; 4.625% | 581000 | &nbsp;&nbsp; 559939 |
| 11/15/2055 | &nbsp;&nbsp; 4.625% | 50000 | &nbsp;&nbsp; 47758 |
| &nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $2,991,711) | &nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $2,991,711) | &nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $2,991,711) | &nbsp;&nbsp; **2954190** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Put Option Contracts Purchased 0.7%** | **Put Option Contracts Purchased 0.7%** |
|  | **Value ($)** |
| (Cost $75,305,488) | &nbsp;&nbsp; **75354205** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Money Market Funds 16.3%** | **Money Market Funds 16.3%** | **Money Market Funds 16.3%** |
|  | **Shares** | **Value ($)** |
| &nbsp;&nbsp; Columbia Short-Term Cash Fund, <br> 3.790%<sup>(c),(f)</sup> <br>| &nbsp;&nbsp; 1785488369 | &nbsp;&nbsp; 1784774174 |
| &nbsp;&nbsp; Total Money Market Funds <br>(Cost $1,784,954,932) | &nbsp;&nbsp; Total Money Market Funds <br>(Cost $1,784,954,932) | &nbsp;&nbsp; **1784774174** |
| **Total Investments in Securities** <br>**(Cost: $10,119,812,406)** | **Total Investments in Securities** <br>**(Cost: $10,119,812,406)** | &nbsp;&nbsp; **11747741933** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(827837473)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **10919904460** |

---

At March 31, 2026, securities and/or cash totaling $130,720,161 were pledged as collateral.

**Investments in derivatives** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** |
| **Currency to** <br>**be sold**<br>| &nbsp;&nbsp;&nbsp; **Currency to** <br>**be purchased**<br>| **Counterparty** | **Settlement** <br>**date**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**depreciation ($)**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 15,776,000 AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,786,477 USD | Barclays | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (95440)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 16,500,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12,178,470 USD | Barclays | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 306937 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 27,160,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19,494,361 USD | Barclays | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (46902)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 28,500,000 CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36,752,616 USD | Barclays | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1025696 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp; 398,337,000 NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41,019,154 USD | Barclays | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (115612)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,260,310 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,267,000 AUD | Barclays | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (178373)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 30,858,443 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23,016,000 GBP | Barclays | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (395232)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 18,428,573 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32,233,000 NZD | Barclays | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 107014 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 48,000,000 EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55,631,280 USD | Citi | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 94160 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp; 210,477,000 NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21,622,424 USD | Citi | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (112745)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 32,411,902 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24,577,000 GBP | Citi | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 117396 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,922,448 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,996,000 AUD | Goldman Sachs International | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (96771)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 22,276,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16,292,916 USD | HSBC | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 265626 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 1,219,000,000 SEK | &nbsp;&nbsp;&nbsp;&nbsp; 132,255,615 USD | HSBC | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3345085 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 16,343,635 USD | &nbsp;&nbsp;&nbsp;&nbsp; 159,634,000 NOK | HSBC | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 141169 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 43,728,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32,050,613 USD | JPMorgan | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 588891 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 40,615,000 EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46,587,809 USD | JPMorgan | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (404693)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 12,281,749 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,554,000 EUR | JPMorgan | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (70525)<br>|
| &nbsp;&nbsp; 217,300,407 USD | &nbsp;&nbsp;&nbsp;&nbsp; 34,300,000,000 JPY | JPMorgan | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (745813)<br>|
| 1,945,953,000 JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12,284,244 USD | Morgan Stanley | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1618)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 12,094,569 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,497,000 EUR | Morgan Stanley | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 50705 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward foreign currency exchange contracts (continued)** | **Forward foreign currency exchange contracts (continued)** | **Forward foreign currency exchange contracts (continued)** | **Forward foreign currency exchange contracts (continued)** | **Forward foreign currency exchange contracts (continued)** | **Forward foreign currency exchange contracts (continued)** |
| **Currency to**<br> **be sold**<br>| &nbsp;&nbsp;&nbsp; **Currency to**<br> **be purchased**<br>| **Counterparty** | **Settlement**<br> **date**<br>| &nbsp;&nbsp;&nbsp; **Unrealized**<br> **appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Unrealized**<br> **depreciation ($)**<br>|
| &nbsp;&nbsp; 129,705,915 USD | &nbsp;&nbsp;&nbsp;&nbsp; 1,253,000,000 NOK | Morgan Stanley | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (313314)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,561,845 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,189,000 NZD | Morgan Stanley | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (127611)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 10,799,499 USD | &nbsp;&nbsp;&nbsp;&nbsp; 100,066,000 SEK | Morgan Stanley | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (217415)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 15,955,000 CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20,345,575 USD | UBS | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 344767 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 3,407,274,000 JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21,551,930 USD | UBS | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 39953 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp; 252,977,000 SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26,480,865 USD | UBS | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (271718)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 62,830,869 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47,000,000 GBP | UBS | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (623236)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 42,000,000 AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29,551,998 USD | Wells Fargo | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 581378 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 13,224,000 CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16,910,810 USD | Wells Fargo | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 333519 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 25,998,000 CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32,539,843 USD | Wells Fargo | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (50631)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,673,181 USD | &nbsp;&nbsp;&nbsp;&nbsp; 1,540,958,000 JPY | Wells Fargo | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 55726 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,678,304 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,355,000 NZD | Wells Fargo | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (148611)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 26,169,760 USD | &nbsp;&nbsp;&nbsp;&nbsp; 244,525,000 SEK | Wells Fargo | 04/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (310984)<br>|
| Total |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7398022 | &nbsp;&nbsp;&nbsp;&nbsp; (4327244)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** |
| **Description** | **Number of** <br>**contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Expiration** <br>**date**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Trading** <br>**currency**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**amount**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**depreciation ($)**<br>|
| CAC40 Index | 212 | 04/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 16589000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (324702)<br>|
| DAX Index | 8 | 06/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 4567400 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (239287)<br>|
| FTSE 100 Index | 45 | 06/2026 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 4589550 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (35523)<br>|
| IBEX 35 Index | 11 | 04/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1866315 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (21467)<br>|
| NASDAQ 100 Index E-mini | 240 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 114792000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3325086)<br>|
| S&P 500 Index E-mini | 1352 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 444182700 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3839261)<br>|
| S&P/TSX 60 Index | 195 | 06/2026 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 74404200 | &nbsp;&nbsp;&nbsp;&nbsp; 436321 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| S&P/TSX 60 Index | 15 | 06/2026 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 5723400 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8938)<br>|
| U.S. Long Bond | 40 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4555000 | &nbsp;&nbsp;&nbsp;&nbsp; 36484 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Long Bond | 316 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 35984500 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (235703)<br>|
| U.S. Treasury 10-Year Note | 35 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3886641 | &nbsp;&nbsp;&nbsp;&nbsp; 17433 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 10-Year Note | 424 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 47083875 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (443410)<br>|
| U.S. Treasury 2-Year Note | 1385 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 287311757 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1366141)<br>|
| U.S. Treasury 5-Year Note | 110 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 11899766 | &nbsp;&nbsp;&nbsp;&nbsp; 38474 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 5-Year Note | 3077 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 332868900 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3645392)<br>|
| U.S. Treasury Ultra Bond | 40 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4662500 | &nbsp;&nbsp;&nbsp;&nbsp; 32264 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury Ultra Bond | 264 | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 30772500 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (73222)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 560976 | &nbsp;&nbsp;&nbsp;&nbsp; (13558132)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** |
| **Description** | **Number of** <br>**contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Expiration** <br>**date**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Trading** <br>**currency**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**amount**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**depreciation ($)**<br>|
| Euro STOXX 50 Index | (1522) | 06/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; (83633900)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3012616 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Euro STOXX 50 Index | (390) | 06/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; (21430500)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (174295)<br>|
| FTSE/MIB Index | (107) | 06/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; (23313160)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 135967 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| MSCI Singapore Index | (11) | 04/2026 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; (480260)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1457)<br>|
| OMXS30 Index | (105) | 04/2026 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; (30660000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (66124)<br>|
| Russell 2000 Index E-mini | (240) | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (30146400)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (156379)<br>|
| S&P Mid 400 Index E-mini | (30) | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (10189500)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 14493 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| S&P Mid 400 Index E-mini | (72) | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (24454800)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (248206)<br>|
| SPI 200 Index | (3) | 06/2026 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; (638475)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1379)<br>|
| TOPIX Index | (16) | 06/2026 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; (560640000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7422 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 10-Year Note | (16) | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (1776750)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 36352 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 5-Year Note | (1) | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (108180)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1561 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury Ultra Bond | (28) | 06/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (3263750)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 93879 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3302290 | &nbsp;&nbsp;&nbsp;&nbsp; (647840)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** |
| **Description** | **Counterparty** | &nbsp;&nbsp; **Trading** <br>**currency**<br>| **Notional** <br>**amount**<br>| **Number of** <br>**contracts**<br>| **Exercise** <br>**price/Rate**<br>| **Expiration** <br>**date**<br>| **Cost ($)** | **Value ($)** |
| S&P 500 Index | Morgan Stanley | USD | &nbsp;&nbsp; 50269604 | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 6650.00 | &nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp; 2094671 | &nbsp;&nbsp; 2135595 |
| S&P 500 Index | Morgan Stanley | USD | &nbsp;&nbsp; 60062384 | &nbsp;&nbsp; 92 | &nbsp;&nbsp; 6420.00 | &nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp; 2447524 | &nbsp;&nbsp; 1801360 |
| S&P 500 Index | Morgan Stanley | USD | &nbsp;&nbsp; 881350200 | &nbsp;&nbsp; 1350 | &nbsp;&nbsp; 5300.00 | &nbsp;&nbsp; 12/17/2027 | &nbsp;&nbsp; 34692825 | &nbsp;&nbsp; 32670000 |
| S&P 500 Index | Morgan Stanley | USD | &nbsp;&nbsp; 652852000 | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 5400.00 | &nbsp;&nbsp; 12/17/2027 | &nbsp;&nbsp; 25562519 | &nbsp;&nbsp; 26030000 |
| S&P 500 Index | Morgan Stanley | USD | &nbsp;&nbsp; 297047660 | &nbsp;&nbsp; 455 | &nbsp;&nbsp; 5500.00 | &nbsp;&nbsp; 12/17/2027 | &nbsp;&nbsp; 10507949 | &nbsp;&nbsp; 12717250 |
| Total |  |  |  |  |  |  | &nbsp;&nbsp; 75305488 | &nbsp;&nbsp; 75354205 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** |
| **Description** | **Counterparty** | &nbsp;&nbsp; **Trading** <br>**currency**<br>| **Notional** <br>**amount**<br>| **Number of** <br>**contracts**<br>| **Exercise** <br>**price/Rate**<br>| **Expiration** <br>**date**<br>| **Premium** <br>**received ($)**<br>| **Value ($)** |
| S&P 500 Index | Morgan Stanley | USD | &nbsp;&nbsp; (50269604)<br>| &nbsp;&nbsp; (77)<br>| &nbsp;&nbsp; 6650.00 | &nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp; (1986329)<br>| &nbsp;&nbsp; (1534225)<br>|
| S&P 500 Index | Morgan Stanley | USD | &nbsp;&nbsp; (60062384)<br>| &nbsp;&nbsp; (92)<br>| &nbsp;&nbsp; 6420.00 | &nbsp;&nbsp; 06/18/2026 | &nbsp;&nbsp; (2667676)<br>| &nbsp;&nbsp; (3180440)<br>|
| Total |  |  |  |  |  |  | &nbsp;&nbsp; (4654005)<br>| &nbsp;&nbsp; (4714665)<br>|

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Represents privately placed and other securities and instruments exempt from Securities
 and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only
 to qualified institutional buyers. At March 31, 2026, the total value of these securities amounted to $4,283,936, which represents 0.04% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents a variable rate security with a step coupon where the rate adjusts according
 to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the
 current rate as of March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the
 holdings and transactions in these affiliated companies during the period ended March 31, 2026 are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated** <br> **issuers**<br>| **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Capital gain** <br>**distributions($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends —** <br>**affiliated** <br>**issuers ($)**<br>| **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  | Columbia Short-Term Cash Fund, 3.790%  |
|  | 1833439183 | 1345456855 | (1393988763)<br>| (133101)<br>| 1784774174 |  | (30470)<br>| 16617767 | 1785488369 |
| Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Contrarian Core Fund, Class 1 Shares  |
|  | 193224165 |  | (125427)<br>| (11264192)<br>| 181834546 |  | 378240 |  | 3033609 |
| Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Corporate Bond Fund, Class 1 Shares  |
|  | 265872649 |  | (9798455)<br>| (1420538)<br>| 254653656 |  | 454929 |  | 32564406 |
| Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares  |
|  | 597712459 |  | (4107706)<br>| (39360018)<br>| 554244735 |  | 10371137 |  | 4504224 |
| Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares  |
|  | 568502222 |  | (22800262)<br>| 3781615 | 549483575 |  | (3689149)<br>|  | 63893439 |
| Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Large Cap Growth Fund, Class 1 Shares  |
|  | 316301047 |  | (19690)<br>| (30152945)<br>| 286128412 |  | 61897 |  | 5561291 |
| Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  | Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares  |
|  | 83819477 |  | (409164)<br>| 86412 | 83496725 |  | 923 |  | 8770665 |
| Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  | Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares  |
|  | 173979703 |  | (7236945)<br>| 2153191 | 168895949 |  | (3095261)<br>|  | 23922939 |
| Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  | Columbia Variable Portfolio – Overseas Core Fund, Class 1 Shares  |
|  | 752550255 | 45832751 | (40895144)<br>| (48331692)<br>| 709156170 |  | 15054348 | 45832751 | 41937089 |
| Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares  |
|  | 595616311 |  | (4656386)<br>| (39588098)<br>| 551371827 |  | 4050924 |  | 21827863 |
| Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares  |
|  | 321599007 |  | (11982023)<br>| (3421479)<br>| 306195505 |  | 12614291 |  | 5325139 |

---

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

**Notes to Portfolio of Investments (continued)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated** <br> **issuers**<br>| **Beginning**<br> **of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br> **unrealized** <br> **appreciation** <br> **(depreciation)($)**<br>| **End of** <br> **period($)**<br>| **Capital gain**<br> **distributions($)**<br>| **Realized gain**<br> **(loss)($)**<br>| **Dividends —**<br> **affiliated**<br> **issuers ($)**<br>| **End of**<br> **period shares**<br>|
| Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Growth Fund, Class 1 Shares  |
|  | 45344055 |  | (160896)<br>| (1840550)<br>| 43342609 |  | 402228 |  | 693149 |
| Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Select Mid Cap Value Fund, Class 1 Shares  |
|  | 46607208 |  | (1697262)<br>| 319616 | 45229562 |  | 3099515 |  | 891926 |
| Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Cap Value Fund, Class 1 Shares  |
|  | 32361560 |  | (1390929)<br>| 74884 | 31045515 |  | 244728 |  | 2436854 |
| Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  | Columbia Variable Portfolio – Small Company Growth Fund, Class 1 Shares  |
|  | 31485296 |  | (584136)<br>| (1429351)<br>| 29471809 |  | 388338 |  | 2042398 |
| Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  | Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares  |
|  | 175943586 |  | (6945739)<br>| 1143699 | 170141546 |  | (561709)<br>|  | 18119440 |
| CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – American Century Diversified Bond Fund, Class 1 Shares  |
|  | 435397345 |  | (17421171)<br>| 2435862 | 420412036 |  | (2847400)<br>|  | 45205595 |
| CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Principal Large Cap Growth Fund, Class 1 Shares  |
|  | 264617372 |  | (18549)<br>| (31662472)<br>| 232936351 |  | 49618 |  | 3245143 |
| CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – T. Rowe Price Large Cap Value Fund, Class 1 Shares  |
|  | 269512650 |  | (8283661)<br>| (4272009)<br>| 256956980 |  | 9932705 |  | 5708887 |
| CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  | CTIVP<sup>®</sup> – TCW Core Plus Bond Fund, Class 1 Shares  |
|  | 568955512 |  | (21114821)<br>| 2321420 | 550162111 |  | (2261136)<br>|  | 59093675 |
| CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Victory Sycamore Established Value Fund, Class 1 Shares  |
|  | 33927554 |  | (956226)<br>| 39063 | 33010391 |  | 1555821 |  | 608262 |
| CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Wellington Large Cap Value Fund, Class 1 Shares  |
|  | 267904453 |  | (2939359)<br>| (11079629)<br>| 253885465 |  | 3712377 |  | 5076694 |
| CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Mid Cap Growth Fund, Class 1 Shares  |
|  | 33187823 |  | (78994)<br>| (878962)<br>| 32229867 |  | 169469 |  | 568128 |
| CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  | CTIVP<sup>®</sup> – Westfield Select Large Cap Growth Fund, Class 1 Shares  |
|  | 265241134 |  | (285755)<br>| (17239431)<br>| 247715948 |  | 110109 |  | 3823957 |
| Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  | Variable Portfolio – Partners Core Bond Fund, Class 1 Shares  |
|  | 653851022 |  | (25657730)<br>| 2848628 | 631041920 |  | (2763013)<br>|  | 64655934 |
| Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners Core Equity Fund, Class 1 Shares  |
|  | 296994885 |  | (24137)<br>| (15944961)<br>| 281025787 |  | 60432 |  | 5693391 |
| Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  | Variable Portfolio – Partners International Core Equity Fund, Class 1 Shares  |
|  | 399179589 | 9360874 | (11422402)<br>| (24169093)<br>| 372948968 |  | 3944531 | 9360874 | 31366608 |
| Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  | Variable Portfolio – Partners International Growth Fund, Class 1 Shares  |
|  | 245779282 | 1957566 | (11359599)<br>| (8901944)<br>| 227475305 |  | 2563803 | 1957566 | 17939693 |
| Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  | Variable Portfolio – Partners International Value Fund, Class 1 Shares  |
|  | 238899361 | 7205324 | (5692033)<br>| (8973915)<br>| 231438737 |  | 4218560 | 7205324 | 17761990 |
| Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Growth Fund, Class 1 Shares  |
|  | 84748898 |  | (1409209)<br>| (602681)<br>| 82737008 |  | 2148522 |  | 2178436 |
| Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  | Variable Portfolio – Partners Small Cap Value Fund, Class 1 Shares  |
|  | 85428424 |  | (3383411)<br>| 1246425 | 83291438 |  | 3050870 |  | 1884848 |
| Total | 10177983487 |  |  | (284216246)<br>| 9686734627 |  | 63390177 | 80974282 |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(d) Non-income producing investment.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Represents a security purchased on a when-issued basis.

&nbsp;&nbsp;&nbsp;&nbsp;(f) The rate shown is the seven-day current annualized yield at March 31, 2026.

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

------

Portfolio of Investments (continued)

Variable Portfolio – Managed Volatility Moderate Growth Fund, March 31, 2026 (Unaudited)

**Abbreviation Legend** 

TBA To Be Announced

**Currency Legend** 

---

| | |
|:---|:---|
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| USD | US Dollar |

---

Investments are valued using policies described in the Notes to Financial Statements included within the most recent financial statements and additional information.

Variable Portfolio – Managed Volatility Moderate Growth Fund \| 2026

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You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.

1QT7048_(05/26)

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## 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:** 1800-345-6611

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

- **a. Name of Series:** Variable Portfolio - Managed Volatility Moderate Growth Fund

- **b. EDGAR series identifier (if any):** S000036785

- **c. LEI of Series:** 9JZ674PFZ8KMUU1PMX40

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $12394850282.98

**Total Liabilities:** $1463061990.37

**Net Assets:** $10931788292.61

**Delayed Delivery Securities:** $1448579916.36

**Cash Not Reported:** $13260512.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000112515 | 1.47%                | 1.21%                | -4.19%               |
| Class ID C000209990 | 1.54%                | 1.19%                | -4.17%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $35534997.28             | $113182647.44                              |
| Month 2  | $33218127.40             | $88165662.25                               |
| Month 3  | $52767753.31             | $-573321857.16                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| AEP TEXAS INC                                           | AEP Texas Inc                                                                   | CUSIP: 00108WAK6<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |     717000 | PA      | $479485.98     | 0.00%             | 2050-01-15      | Fixed         | 3.45%                 | No            | 2                  | On Loan: No      |
| AEP TEXAS INC                                           | AEP Texas Inc                                                                   | CUSIP: 00108WAN0<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |     235000 | PA      | $155558.21     | 0.00%             | 2051-05-15      | Fixed         | 3.45%                 | No            | 2                  | On Loan: No      |
| AT&T INC                                                | AT&T Inc                                                                        | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    1545000 | PA      | $1040927.48    | 0.01%             | 2057-12-01      | Fixed         | 3.80%                 | No            | 2                  | On Loan: No      |
| ABBOTT LABORATORIES                                     | Abbott Laboratories                                                             | CUSIP: 002824BW9<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |     570000 | PA      | $558962.53     | 0.01%             | 2056-03-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| ABBVIE INC                                              | AbbVie Inc                                                                      | CUSIP: 00287YAM1<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |     516000 | PA      | $452842.75     | 0.00%             | 2042-11-06      | Fixed         | 4.40%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F030447<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   24500000 | PA      | $23396675.58   | 0.21%             | 2041-04-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F030645<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   87852000 | PA      | $77149821.04   | 0.71%             | 2056-04-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F032443<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   40650000 | PA      | $39127727.82   | 0.36%             | 2041-04-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F032641<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  123450000 | PA      | $113159705.50  | 1.04%             | 2056-04-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F040446<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   58800000 | PA      | $57420155.69   | 0.53%             | 2041-04-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F040644<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  151280000 | PA      | $142736256.26  | 1.31%             | 2056-04-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F042640<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  216650000 | PA      | $209068478.41  | 1.91%             | 2056-04-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F050643<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  138950000 | PA      | $137022296.63  | 1.25%             | 2056-04-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F052649<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  140000000 | PA      | $140644827.40  | 1.29%             | 2056-04-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F060642<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  145000000 | PA      | $147802560.00  | 1.35%             | 2056-04-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| ALPHABET INC                                            | Alphabet Inc                                                                    | CUSIP: 02079KBP1<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |     655000 | PA      | $652393.46     | 0.01%             | 2056-02-15      | Fixed         | 5.65%                 | No            | 2                  | On Loan: No      |
| ALPHABET INC                                            | Alphabet Inc                                                                    | CUSIP: 02079KBQ9<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |     128000 | PA      | $126748.43     | 0.00%             | 2066-02-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| AMAZON.COM INC                                          | Amazon.com Inc                                                                  | CUSIP: 023135CB0<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |     831000 | PA      | $542124.70     | 0.00%             | 2051-05-12      | Fixed         | 3.10%                 | No            | 2                  | On Loan: No      |
| AMAZON.COM INC                                          | Amazon.com Inc                                                                  | CUSIP: 023135DH6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |     185000 | PA      | $184547.78     | 0.00%             | 2056-03-13      | Fixed         | 5.80%                 | No            | 2                  | On Loan: No      |
| AMEREN CORP                                             | Ameren Corp                                                                     | CUSIP: 023608AS1<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |     405000 | PA      | $394077.27     | 0.00%             | 2036-05-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| AMGEN INC                                               | Amgen Inc                                                                       | CUSIP: 031162DG2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |      65000 | PA      | $50297.86      | 0.00%             | 2062-02-22      | Fixed         | 4.40%                 | No            | 2                  | On Loan: No      |
| AMGEN INC                                               | Amgen Inc                                                                       | CUSIP: 031162DU1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     753000 | PA      | $723709.22     | 0.01%             | 2063-03-02      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV                                 | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc                     | CUSIP: 03522AAJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     678000 | PA      | $611302.59     | 0.01%             | 2046-02-01      | Fixed         | 4.90%                 | No            | 2                  | On Loan: No      |
| APA CORP                                                | APA Corp                                                                        | CUSIP: 03743QAT5<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |     187000 | PA      | $187881.18     | 0.00%             | 2055-02-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| APPLE INC                                               | Apple Inc                                                                       | CUSIP: 037833EF3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     801000 | PA      | $485189.92     | 0.00%             | 2051-02-08      | Fixed         | 2.65%                 | No            | 2                  | On Loan: No      |
| BAT CAPITAL CORP                                        | BAT Capital Corp                                                                | CUSIP: 054989AC2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     248000 | PA      | $272843.74     | 0.00%             | 2043-08-02      | Fixed         | 7.08%                 | No            | 2                  | On Loan: No      |
| BAE SYSTEMS PLC                                         | BAE Systems PLC                                                                 | CUSIP: 05523RAL1<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |     556000 | PA      | $569434.89     | 0.01%             | 2034-03-26      | Fixed         | 5.30%                 | No            | 2                  | On Loan: No      |
| BACARDI-MARTINI BV                                      | Bacardi-Martini BV                                                              | CUSIP: 05634WAB8<br>LEI: 5493002XXBV8B88K2408 | Long             | DBT              | CORP              | NL        |     119000 | PA      | $120530.13     | 0.00%             | 2035-02-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| BANK OF AMERICA CORP                                    | Bank of America Corp                                                            | CUSIP: 06051GJA8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    1075000 | PA      | $830831.27     | 0.01%             | 2051-03-20      | Fixed         | 4.08%                 | No            | 2                  | On Loan: No      |
| BACARDI LTD                                             | Bacardi Ltd                                                                     | CUSIP: 067316AG4<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |     636000 | PA      | $589876.26     | 0.01%             | 2038-05-15      | Fixed         | 5.15%                 | No            | 2                  | On Loan: No      |
| BACARDI LTD                                             | Bacardi Ltd                                                                     | CUSIP: 067316AH2<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |     146000 | PA      | $126696.26     | 0.00%             | 2048-05-15      | Fixed         | 5.30%                 | No            | 2                  | On Loan: No      |
| BARCLAYS PLC                                            | Barclays PLC                                                                    | CUSIP: 06738EDK8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     200000 | PA      | $193519.97     | 0.00%             | 2037-02-24      | Fixed         | 5.21%                 | No            | 2                  | On Loan: No      |
| BERKSHIRE HATHAWAY FIN                                  | Berkshire Hathaway Finance Corp                                                 | CUSIP: 084664DB4<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |     185000 | PA      | $139147.09     | 0.00%             | 2052-03-15      | Fixed         | 3.85%                 | No            | 2                  | On Loan: No      |
| BOEING CO                                               | Boeing Co/The                                                                   | CUSIP: 097023CR4<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     878000 | PA      | $603791.17     | 0.01%             | 2059-08-01      | Fixed         | 3.95%                 | No            | 2                  | On Loan: No      |
| BOEING CO                                               | Boeing Co/The                                                                   | CUSIP: 097023CX1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |      80000 | PA      | $77013.40      | 0.00%             | 2060-05-01      | Fixed         | 5.93%                 | No            | 2                  | On Loan: No      |
| BP CAP MARKETS AMERICA                                  | BP Capital Markets America Inc                                                  | CUSIP: 10373QBS8<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |     469000 | PA      | $296926.74     | 0.00%             | 2052-03-17      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                 | Bristol-Myers Squibb Co                                                         | CUSIP: 110122DW5<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |     375000 | PA      | $270483.56     | 0.00%             | 2052-03-15      | Fixed         | 3.70%                 | No            | 2                  | On Loan: No      |
| BROADCOM INC                                            | Broadcom Inc                                                                    | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     745000 | PA      | $622657.23     | 0.01%             | 2036-11-15      | Fixed         | 3.19%                 | No            | 2                  | On Loan: No      |
| BURLINGTN NORTH SANTA FE                                | Burlington Northern Santa Fe LLC                                                | CUSIP: 12189LBN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     687000 | PA      | $666332.59     | 0.01%             | 2056-03-15      | Fixed         | 5.55%                 | No            | 2                  | On Loan: No      |
| CIGNA GROUP/THE                                         | Cigna Group/The                                                                 | CUSIP: 125523CK4<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |     402000 | PA      | $274824.50     | 0.00%             | 2050-03-15      | Fixed         | 3.40%                 | No            | 2                  | On Loan: No      |
| CVS HEALTH CORP                                         | CVS Health Corp                                                                 | CUSIP: 126650CN8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     730000 | PA      | $642195.23     | 0.01%             | 2045-07-20      | Fixed         | 5.13%                 | No            | 2                  | On Loan: No      |
| CAMPBELLS COMPANY/THE                                   | Campbell's Company/The                                                          | CUSIP: 134429BK4<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |      32000 | PA      | $19148.40      | 0.00%             | 2050-04-24      | Fixed         | 3.13%                 | No            | 2                  | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                | Canadian Pacific Railway Co                                                     | CUSIP: 13645RBH6<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |     165000 | PA      | $107967.88     | 0.00%             | 2051-12-02      | Fixed         | 3.10%                 | No            | 2                  | On Loan: No      |
| CANADIAN PACIFIC RR CO                                  | Canadian Pacific Railway Co                                                     | CUSIP: 13645RBS2<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |     205000 | PA      | $196028.02     | 0.00%             | 2056-03-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| CARRIER GLOBAL CORP                                     | Carrier Global Corp                                                             | CUSIP: 14448CAR5<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     380000 | PA      | $299267.14     | 0.00%             | 2040-04-05      | Fixed         | 3.38%                 | No            | 2                  | On Loan: No      |
| CENTERPOINT ENER HOUSTON                                | CenterPoint Energy Houston Electric LLC                                         | CUSIP: 15189XBH0<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |     121000 | PA      | $119869.40     | 0.00%             | 2035-08-15      | Fixed         | 4.95%                 | No            | 2                  | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     730000 | PA      | $587220.95     | 0.01%             | 2047-05-01      | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     414000 | PA      | $243704.58     | 0.00%             | 2062-06-30      | Fixed         | 3.95%                 | No            | 2                  | On Loan: No      |
| CISCO SYSTEMS INC                                       | Cisco Systems Inc                                                               | CUSIP: 17275RCA8<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |     140000 | PA      | $135608.05     | 0.00%             | 2055-02-24      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                   | CUSIP: 172967MD0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     230000 | PA      | $194741.04     | 0.00%             | 2048-07-23      | Fixed         | 4.65%                 | No            | 2                  | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                   | CUSIP: 172967PG0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     205000 | PA      | $207597.94     | 0.00%             | 2035-02-13      | Fixed         | 5.83%                 | No            | 2                  | On Loan: No      |
| Columbia Variable Portfolio - Small Cap Value Fund      | Columbia Variable Portfolio - Small Cap Value Fund                              | CUSIP: 19765R303<br>LEI: QFDZC6A36M07XEWD4L46 | Long             | EC               | RF                | US        |    2438639 | NS      | $31068261.41   | 0.28%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP LONG GOVT/CREDIT BD 1                       | COLUMBIA VP LONG GOVT/CREDIT BD 1                                               | CUSIP: 19765R444<br>LEI: N/A                  | Long             | EC               | RF                | US        |   23964718 | NS      | $169190907.53  | 1.55%             |  |  |  | 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        |    3033609 | NS      | $181834546.00  | 1.66%             |  |  |  | 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        |    2042398 | NS      | $29471809.47   | 0.27%             |  |  |  | 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        |   64806172 | NS      | $632508238.70  | 5.79%             |  |  |  | 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        |   17939693 | NS      | $227475304.68  | 2.08%             |  |  |  | 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        |     609389 | NS      | $33071518.40   | 0.30%             |  |  |  | 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        |    5693391 | NS      | $281025787.21  | 2.57%             |  |  |  | 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        |    3245143 | NS      | $232936351.26  | 2.13%             |  |  |  | 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        |   45307675 | NS      | $421361374.29  | 3.85%             |  |  |  | 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        |   17773419 | NS      | $231587644.25  | 2.12%             |  |  |  | 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        |   41967145 | NS      | $709664424.18  | 6.49%             |  |  |  | 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        |    5331303 | NS      | $306549923.25  | 2.80%             |  |  |  | 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        |    5561291 | NS      | $286128412.23  | 2.62%             |  |  |  | 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        |   18164094 | NS      | $170560844.86  | 1.56%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP SEL MID CAP VAL CL 1                        | COLUMBIA VP SEL MID CAP VAL CL 1                                                | CUSIP: 19766E582<br>LEI: N/A                  | Long             | EC               | RF                | US        |     893852 | NS      | $45327248.31   | 0.41%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VARIABLE PORTFOLIO - MI                        | COLUMBIA VARIABLE PORTFOLIO - MI                                                | CUSIP: 19766E624<br>LEI: 0OPPEF28BGYQSTF7XF64 | Long             | EC               | RF                | US        |     693149 | NS      | $43342609.41   | 0.40%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP LTD DUR BD- C                               | COLUMBIA VP LTD DUR BD- C                                                       | CUSIP: 19766E640<br>LEI: N/A                  | Long             | EC               | RF                | US        |    8776181 | NS      | $83549247.04   | 0.76%             |  |  |  | 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        |   32637703 | NS      | $255226837.36  | 2.33%             |  |  |  | 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        |    4505763 | NS      | $554434170.99  | 5.07%             |  |  |  | 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        |   64034473 | NS      | $550696465.62  | 5.04%             |  |  |  | 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        | 1785488369 | NS      | $1784774173.83 | 16.33%            |  |  |  | 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        |     568127 | NS      | $32229867.12   | 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        |    5078735 | NS      | $253987558.10  | 2.32%             |  |  |  | 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        |   21827863 | NS      | $551371826.73  | 5.04%             |  |  |  | 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        |    3823957 | NS      | $247715948.00  | 2.27%             |  |  |  | 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        |   31366608 | NS      | $372948967.81  | 3.41%             |  |  |  | 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        |   59231228 | NS      | $551442736.60  | 5.04%             |  |  |  | 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        |    1887358 | NS      | $83402347.85   | 0.76%             |  |  |  | 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        |    2179899 | NS      | $82792572.19   | 0.76%             |  |  |  | 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        |    5717967 | NS      | $257365684.59  | 2.35%             |  |  |  | No            | N/A                | On Loan: No      |
| COMCAST CORP                                            | Comcast Corp                                                                    | CUSIP: 20030NDU2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     858000 | PA      | $476364.04     | 0.00%             | 2056-11-01      | Fixed         | 2.94%                 | No            | 2                  | On Loan: No      |
| COMCAST CORP                                            | Comcast Corp                                                                    | CUSIP: 20030NEF4<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |      95000 | PA      | $83884.45      | 0.00%             | 2053-05-15      | Fixed         | 5.35%                 | No            | 2                  | On Loan: No      |
| CONAGRA BRANDS INC                                      | Conagra Brands Inc                                                              | CUSIP: 205887CE0<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |     125000 | PA      | $106130.24     | 0.00%             | 2048-11-01      | Fixed         | 5.40%                 | No            | 2                  | On Loan: No      |
| CON EDISON CO OF NY INC                                 | Consolidated Edison Co of New York Inc                                          | CUSIP: 209111GG2<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |     169000 | PA      | $169231.18     | 0.00%             | 2053-11-15      | Fixed         | 5.90%                 | No            | 2                  | On Loan: No      |
| CON EDISON CO OF NY INC                                 | Consolidated Edison Co of New York Inc                                          | CUSIP: 209111GN7<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |     195000 | PA      | $185633.02     | 0.00%             | 2055-03-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| CON EDISON CO OF NY INC                                 | Consolidated Edison Co of New York Inc                                          | CUSIP: 209111GP2<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |      77000 | PA      | $76027.53      | 0.00%             | 2055-11-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| DTE ELECTRIC CO                                         | DTE Electric Co                                                                 | CUSIP: 23338VBA3<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |     255000 | PA      | $246503.15     | 0.00%             | 2056-03-01      | Fixed         | 5.55%                 | No            | 2                  | On Loan: No      |
| DIAMONDBACK ENERGY INC                                  | Diamondback Energy Inc                                                          | CUSIP: 25278XBB4<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     172000 | PA      | $163352.70     | 0.00%             | 2064-04-18      | Fixed         | 5.90%                 | No            | 2                  | On Loan: No      |
| DOW CHEMICAL CO/THE                                     | Dow Chemical Co/The                                                             | CUSIP: 260543DM2<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |     110000 | PA      | $99295.92      | 0.00%             | 2055-03-15      | Fixed         | 5.95%                 | No            | 2                  | On Loan: No      |
| DUKE ENERGY CAROLINAS                                   | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CBH6<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     290000 | PA      | $204258.14     | 0.00%             | 2052-03-15      | Fixed         | 3.55%                 | No            | 2                  | On Loan: No      |
| DUKE ENERGY INDIANA LLC                                 | Duke Energy Indiana LLC                                                         | CUSIP: 26443TAC0<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |     195000 | PA      | $118457.51     | 0.00%             | 2050-04-01      | Fixed         | 2.75%                 | No            | 2                  | On Loan: No      |
| DUKE ENERGY INDIANA LLC                                 | Duke Energy Indiana LLC                                                         | CUSIP: 26443TAD8<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |     674000 | PA      | $628481.04     | 0.01%             | 2053-04-01      | Fixed         | 5.40%                 | No            | 2                  | On Loan: No      |
| EATON CORP                                              | Eaton Corp                                                                      | CUSIP: 278058DZ2<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |     200000 | PA      | $197461.36     | 0.00%             | 2036-03-06      | Fixed         | 4.80%                 | No            | 2                  | On Loan: No      |
| ENBRIDGE INC                                            | Enbridge Inc                                                                    | CUSIP: 29250NCC7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     245000 | PA      | $252883.73     | 0.00%             | 2034-04-05      | Fixed         | 5.63%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                                      | Energy Transfer LP                                                              | CUSIP: 29273VAW0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     438000 | PA      | $411115.42     | 0.00%             | 2054-05-15      | Fixed         | 5.95%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                                      | Energy Transfer LP                                                              | CUSIP: 29273VBB5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     150000 | PA      | $142859.92     | 0.00%             | 2054-09-01      | Fixed         | 6.05%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                                      | Energy Transfer LP                                                              | CUSIP: 29273VBL3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     125000 | PA      | $123298.15     | 0.00%             | 2056-01-15      | Fixed         | 6.30%                 | No            | 2                  | On Loan: No      |
| ENTERGY LOUISIANA LLC                                   | Entergy Louisiana LLC                                                           | CUSIP: 29364WBS6<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |     125000 | PA      | $120169.19     | 0.00%             | 2056-04-15      | Fixed         | 5.65%                 | No            | 2                  | On Loan: No      |
| ENTERGY MISSISSIPPI LLC                                 | Entergy Mississippi LLC                                                         | CUSIP: 29366WAG1<br>LEI: 54930043I78H35DVVW89 | Long             | DBT              | CORP              | US        |     102000 | PA      | $100599.29     | 0.00%             | 2055-04-15      | Fixed         | 5.80%                 | No            | 2                  | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                | Enterprise Products Operating LLC                                               | CUSIP: 29379VCH4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     205000 | PA      | $197133.95     | 0.00%             | 2055-02-16      | Fixed         | 5.55%                 | No            | 2                  | On Loan: No      |
| EVERSOURCE ENERGY                                       | Eversource Energy                                                               | CUSIP: 30040WAZ1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |     340000 | PA      | $354374.98     | 0.00%             | 2034-07-15      | Fixed         | 5.95%                 | No            | 2                  | On Loan: No      |
| EXELON CORP                                             | Exelon Corp                                                                     | CUSIP: 30161NBH3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    1069000 | PA      | $807525.48     | 0.01%             | 2052-03-15      | Fixed         | 4.10%                 | No            | 2                  | On Loan: No      |
| META PLATFORMS INC                                      | Meta Platforms Inc                                                              | CUSIP: 30303M8R6<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     275000 | PA      | $255213.52     | 0.00%             | 2063-05-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| META PLATFORMS INC                                      | Meta Platforms Inc                                                              | CUSIP: 30303M8Y1<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     576000 | PA      | $534203.87     | 0.00%             | 2065-11-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                | FirstEnergy Transmission LLC                                                    | CUSIP: 33767BAH2<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |      80000 | PA      | $78776.51      | 0.00%             | 2035-01-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| FIRSTENERGY CORP                                        | FirstEnergy Corp                                                                | CUSIP: 337932AM9<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     288000 | PA      | $192415.38     | 0.00%             | 2050-03-01      | Fixed         | 3.40%                 | No            | 2                  | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                | Florida Power & Light Co                                                        | CUSIP: 341081GY7<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |     514000 | PA      | $511869.16     | 0.00%             | 2055-03-15      | Fixed         | 5.70%                 | No            | 2                  | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                   | Foundry JV Holdco LLC                                                           | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     200000 | PA      | $202824.35     | 0.00%             | 2034-01-25      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                   | Foundry JV Holdco LLC                                                           | CUSIP: 350930AE3<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     200000 | PA      | $209170.51     | 0.00%             | 2038-01-25      | Fixed         | 6.40%                 | No            | 2                  | On Loan: No      |
| FOX CORP                                                | Fox Corp                                                                        | CUSIP: 35137LAK1<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |     110000 | PA      | $101128.23     | 0.00%             | 2049-01-25      | Fixed         | 5.58%                 | No            | 2                  | On Loan: No      |
| GE HEALTHCARE TECH INC                                  | GE HealthCare Technologies Inc                                                  | CUSIP: 36266GAC1<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |     120000 | PA      | $122371.31     | 0.00%             | 2035-06-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| GE HEALTHCARE TECH INC                                  | GE HealthCare Technologies Inc                                                  | CUSIP: 36266GAE7<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |     121000 | PA      | $118780.12     | 0.00%             | 2035-12-15      | Fixed         | 4.95%                 | No            | 2                  | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                 | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GB86<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     280000 | PA      | $268890.15     | 0.00%             | 2045-11-19      | Fixed         | 5.56%                 | No            | 2                  | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                 | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GC51<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     410000 | PA      | $399044.61     | 0.00%             | 2056-01-28      | Fixed         | 5.73%                 | No            | 2                  | On Loan: No      |
| HCA INC                                                 | HCA Inc                                                                         | CUSIP: 404119CL1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     634000 | PA      | $504588.62     | 0.00%             | 2052-03-15      | Fixed         | 4.63%                 | No            | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                                       | HSBC Holdings PLC                                                               | CUSIP: 404280FM6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |     897000 | PA      | $880663.42     | 0.01%             | 2037-03-10      | Fixed         | 5.28%                 | No            | 2                  | On Loan: No      |
| INTEL CORP                                              | Intel Corp                                                                      | CUSIP: 458140BW9<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     585000 | PA      | $354232.58     | 0.00%             | 2051-08-12      | Fixed         | 3.05%                 | No            | 2                  | On Loan: No      |
| IBM CORP                                                | International Business Machines Corp                                            | CUSIP: 459200LK5<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |     220000 | PA      | $207650.42     | 0.00%             | 2055-02-10      | Fixed         | 5.70%                 | No            | 2                  | On Loan: No      |
| iShares Core S&P 500 ETF                                | iShares Core S&P 500 ETF                                                        | CUSIP: 464287200<br>LEI: 5493007M4YMN8XL48C14 | Long             | EC               | RF                | US        |      22000 | NS      | $14370620.00   | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Core U.S. Aggregate Bond ETF                    | iShares Core U.S. Aggregate Bond ETF                                            | CUSIP: 464287226<br>LEI: 549300F7VSXTKBGHJE47 | Long             | EC               | RF                | US        |    3135000 | NS      | $311211450.00  | 2.85%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares iBoxx USD Investment Grade Corporate Bond ETF   | iShares iBoxx USD Investment Grade Corporate Bond ETF                           | CUSIP: 464287242<br>LEI: 549300FYCXFXG8POR355 | Long             | EC               | RF                | US        |    2165790 | NS      | $236049452.10  | 2.16%             |  |  |  | No            | 1                  | On Loan: No      |
| JH NORTH AMERICA HOLDING                                | JH North America Holdings Inc                                                   | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     230000 | PA      | $229683.59     | 0.00%             | 2032-07-31      | Fixed         | 6.13%                 | No            | 2                  | On Loan: No      |
| JPMORGAN CHASE & CO                                     | JPMorgan Chase & Co                                                             | CUSIP: 46647PAL0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    1120000 | PA      | $869287.38     | 0.01%             | 2048-11-15      | Fixed         | 3.96%                 | No            | 2                  | On Loan: No      |
| JOHNSON & JOHNSON                                       | Johnson & Johnson                                                               | CUSIP: 478160CG7<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |     290000 | PA      | $228796.33     | 0.00%             | 2047-03-03      | Fixed         | 3.75%                 | No            | 2                  | On Loan: No      |
| KEURIG DR PEPPER INC                                    | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAR1<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |      55000 | PA      | $42742.39      | 0.00%             | 2052-04-15      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| KRAFT HEINZ FOODS CO                                    | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAB2<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     103000 | PA      | $80351.91      | 0.00%             | 2046-06-01      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| KRAFT HEINZ FOODS CO                                    | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAM8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     425000 | PA      | $371091.12     | 0.00%             | 2045-07-15      | Fixed         | 5.20%                 | No            | 2                  | On Loan: No      |
| KROGER CO                                               | Kroger Co/The                                                                   | CUSIP: 501044DX6<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     338000 | PA      | $314035.07     | 0.00%             | 2064-09-15      | Fixed         | 5.65%                 | No            | 2                  | On Loan: No      |
| L3HARRIS TECH INC                                       | L3Harris Technologies Inc                                                       | CUSIP: 502431AU3<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |     334000 | PA      | $339839.77     | 0.00%             | 2034-06-01      | Fixed         | 5.35%                 | No            | 2                  | On Loan: No      |
| LYB INT FINANCE III                                     | LYB International Finance III LLC                                               | CUSIP: 50249AAJ2<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |     535000 | PA      | $344675.30     | 0.00%             | 2051-04-01      | Fixed         | 3.63%                 | No            | 2                  | On Loan: No      |
| ELI LILLY & CO                                          | Eli Lilly & Co                                                                  | CUSIP: 532457DG0<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |     305000 | PA      | $299686.05     | 0.00%             | 2065-10-15      | Fixed         | 5.65%                 | No            | 2                  | On Loan: No      |
| LOCKHEED MARTIN CORP                                    | Lockheed Martin Corp                                                            | CUSIP: 539830BQ1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |     255000 | PA      | $158970.57     | 0.00%             | 2050-06-15      | Fixed         | 2.80%                 | No            | 2                  | On Loan: No      |
| LOWE'S COS INC                                          | Lowe's Cos Inc                                                                  | CUSIP: 548661EF0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     180000 | PA      | $136183.04     | 0.00%             | 2062-04-01      | Fixed         | 4.45%                 | No            | 2                  | On Loan: No      |
| LOWE'S COS INC                                          | Lowe's Cos Inc                                                                  | CUSIP: 548661EJ2<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     553000 | PA      | $423526.66     | 0.00%             | 2052-04-01      | Fixed         | 4.25%                 | No            | 2                  | On Loan: No      |
| MPLX LP                                                 | MPLX LP                                                                         | CUSIP: 55336VBT6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     301000 | PA      | $249896.33     | 0.00%             | 2052-03-14      | Fixed         | 4.95%                 | No            | 2                  | On Loan: No      |
| MCDONALD'S CORP                                         | McDonald's Corp                                                                 | CUSIP: 58013MFK5<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |     255000 | PA      | $183577.91     | 0.00%             | 2049-09-01      | Fixed         | 3.63%                 | No            | 2                  | On Loan: No      |
| MCDONALD'S CORP                                         | McDonald's Corp                                                                 | CUSIP: 58013MFR0<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |     115000 | PA      | $90689.62      | 0.00%             | 2050-04-01      | Fixed         | 4.20%                 | No            | 2                  | On Loan: No      |
| MERCK & CO INC                                          | Merck & Co Inc                                                                  | CUSIP: 58933YCB9<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |     795000 | PA      | $771583.96     | 0.01%             | 2055-12-04      | Fixed         | 5.55%                 | No            | 2                  | On Loan: No      |
| MIDAMERICAN ENERGY CO                                   | MidAmerican Energy Co                                                           | CUSIP: 595620AZ8<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |     135000 | PA      | $125233.61     | 0.00%             | 2055-02-01      | Fixed         | 5.30%                 | No            | 2                  | On Loan: No      |
| MORGAN STANLEY                                          | Morgan Stanley                                                                  | CUSIP: 61747YGC3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     871000 | PA      | $867232.24     | 0.01%             | 2047-03-13      | Fixed         | 5.90%                 | No            | 2                  | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                  | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAL2<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | XX        |     169000 | PA      | $119693.30     | 0.00%             | 2042-02-15      | Fixed         | 3.13%                 | No            | 2                  | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                  | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAU2<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | XX        |     215000 | PA      | $158196.11     | 0.00%             | 2041-05-11      | Fixed         | 3.25%                 | No            | 2                  | On Loan: No      |
| NBCUNIVERSAL MEDIA LLC                                  | NBCUniversal Media LLC                                                          | CUSIP: 63946BAJ9<br>LEI: VTBDOQJ6KOGQ6K786R46 | Long             | DBT              | CORP              | US        |     326000 | PA      | $270765.28     | 0.00%             | 2043-01-15      | Fixed         | 4.45%                 | No            | 2                  | On Loan: No      |
| NEW YORK LIFE INSURANCE                                 | New York Life Insurance Co                                                      | CUSIP: 64952GAT5<br>LEI: TAE73CY392TBWJ3O3305 | Long             | DBT              | CORP              | US        |     600000 | PA      | $436208.65     | 0.00%             | 2050-05-15      | Fixed         | 3.75%                 | No            | 2                  | On Loan: No      |
| NISOURCE INC                                            | NiSource Inc                                                                    | CUSIP: 65473PAU9<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     200000 | PA      | $194118.64     | 0.00%             | 2055-04-01      | Fixed         | 5.85%                 | No            | 2                  | On Loan: No      |
| NISOURCE INC                                            | NiSource Inc                                                                    | CUSIP: 65473QBC6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     249000 | PA      | $217278.71     | 0.00%             | 2044-02-15      | Fixed         | 4.80%                 | No            | 2                  | On Loan: No      |
| NISOURCE INC                                            | NiSource Inc                                                                    | CUSIP: 65473QBF9<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     170000 | PA      | $136928.28     | 0.00%             | 2047-05-15      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| NORFOLK SOUTHERN CORP                                   | Norfolk Southern Corp                                                           | CUSIP: 655844BV9<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |     392000 | PA      | $297063.59     | 0.00%             | 2052-08-15      | Fixed         | 4.05%                 | No            | 2                  | On Loan: No      |
| NORFOLK SOUTHERN CORP                                   | Norfolk Southern Corp                                                           | CUSIP: 655844CL0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |     245000 | PA      | $150269.14     | 0.00%             | 2051-08-25      | Fixed         | 2.90%                 | No            | 2                  | On Loan: No      |
| NORTHROP GRUMMAN CORP                                   | Northrop Grumman Corp                                                           | CUSIP: 666807BH4<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     375000 | PA      | $338900.83     | 0.00%             | 2043-06-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| NORTHROP GRUMMAN CORP                                   | Northrop Grumman Corp                                                           | CUSIP: 666807BP6<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     295000 | PA      | $231991.93     | 0.00%             | 2047-10-15      | Fixed         | 4.03%                 | No            | 2                  | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE                                | Northwestern Mutual Life Insurance Co/The                                       | CUSIP: 668138AC4<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |     274000 | PA      | $185556.07     | 0.00%             | 2059-09-30      | Fixed         | 3.63%                 | No            | 2                  | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE                                | Northwestern Mutual Life Insurance Co/The                                       | CUSIP: 668138AF7<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |     148000 | PA      | $151996.24     | 0.00%             | 2055-05-29      | Fixed         | 6.17%                 | No            | 2                  | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                | Occidental Petroleum Corp                                                       | CUSIP: 674599EM3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     384000 | PA      | $373007.15     | 0.00%             | 2054-10-01      | Fixed         | 6.05%                 | No            | 2                  | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                 | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JBV5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     200000 | PA      | $144820.80     | 0.00%             | 2050-05-15      | Fixed         | 3.70%                 | No            | 2                  | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                 | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JDJ0<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     165000 | PA      | $164856.35     | 0.00%             | 2056-03-15      | Fixed         | 5.90%                 | No            | 2                  | On Loan: No      |
| ORACLE CORP                                             | Oracle Corp                                                                     | CUSIP: 68389XBJ3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     385000 | PA      | $259612.13     | 0.00%             | 2046-07-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| ORACLE CORP                                             | Oracle Corp                                                                     | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     449000 | PA      | $270878.57     | 0.00%             | 2050-04-01      | Fixed         | 3.60%                 | No            | 2                  | On Loan: No      |
| ORACLE CORP                                             | Oracle Corp                                                                     | CUSIP: 68389XCQ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     543000 | PA      | $433136.13     | 0.00%             | 2053-02-06      | Fixed         | 5.55%                 | No            | 2                  | On Loan: No      |
| ORACLE CORP                                             | Oracle Corp                                                                     | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |      75000 | PA      | $62164.29      | 0.00%             | 2065-09-26      | Fixed         | 6.10%                 | No            | 2                  | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                  | Pacific Gas and Electric Co                                                     | CUSIP: 694308JN8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     480000 | PA      | $398704.78     | 0.00%             | 2050-07-01      | Fixed         | 4.95%                 | No            | 2                  | On Loan: No      |
| PACIFICORP                                              | PacifiCorp                                                                      | CUSIP: 695114CY2<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |     220000 | PA      | $125052.17     | 0.00%             | 2052-06-15      | Fixed         | 2.90%                 | No            | 2                  | On Loan: No      |
| PEACHTREE FUND TRUST II                                 | Peachtree Corners Funding Trust II                                              | CUSIP: 70470BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $102318.88     | 0.00%             | 2035-05-15      | Fixed         | 6.01%                 | No            | 2                  | On Loan: No      |
| PEPSICO INC                                             | PepsiCo Inc                                                                     | CUSIP: 713448FT0<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |     195000 | PA      | $168408.45     | 0.00%             | 2053-02-15      | Fixed         | 4.65%                 | No            | 2                  | On Loan: No      |
| PFIZER INC                                              | Pfizer Inc                                                                      | CUSIP: 717081ED1<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |     613000 | PA      | $493552.59     | 0.00%             | 2046-12-15      | Fixed         | 4.13%                 | No            | 2                  | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                 | Public Service Electric and Gas Co                                              | CUSIP: 74456QCY0<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     171000 | PA      | $168467.98     | 0.00%             | 2056-01-01      | Fixed         | 5.63%                 | No            | 2                  | On Loan: No      |
| RTX CORP                                                | RTX Corp                                                                        | CUSIP: 75513ECS8<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     319000 | PA      | $298895.69     | 0.00%             | 2053-02-27      | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| SIEMENS FUNDING BV                                      | Siemens Funding BV                                                              | CUSIP: 82622RAE6<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |     239000 | PA      | $244475.24     | 0.00%             | 2035-05-28      | Fixed         | 5.20%                 | No            | 2                  | On Loan: No      |
| SOUTHERN CALIF GAS CO                                   | Southern California Gas Co                                                      | CUSIP: 842434DA7<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |     135000 | PA      | $128776.30     | 0.00%             | 2054-04-01      | Fixed         | 5.60%                 | No            | 2                  | On Loan: No      |
| T-MOBILE USA INC                                        | T-Mobile USA Inc                                                                | CUSIP: 87264AAZ8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     115000 | PA      | $92831.91      | 0.00%             | 2050-04-15      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| T-MOBILE USA INC                                        | T-Mobile USA Inc                                                                | CUSIP: 87264AEA9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     342000 | PA      | $331780.51     | 0.00%             | 2056-02-15      | Fixed         | 5.85%                 | No            | 2                  | On Loan: No      |
| TEACHERS INSUR & ANNUITY                                | Teachers Insurance & Annuity Association of America                             | CUSIP: 878091BD8<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |     155000 | PA      | $138396.02     | 0.00%             | 2044-09-15      | Fixed         | 4.90%                 | No            | 2                  | On Loan: No      |
| TEACHERS INSUR & ANNUITY                                | Teachers Insurance & Annuity Association of America                             | CUSIP: 878091BG1<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |     283000 | PA      | $189256.47     | 0.00%             | 2050-05-15      | Fixed         | 3.30%                 | No            | 2                  | On Loan: No      |
| TOTALENERGIES CAP INTL                                  | TotalEnergies Capital International SA                                          | CUSIP: 89153VAW9<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |      80000 | PA      | $51305.35      | 0.00%             | 2060-06-29      | Fixed         | 3.39%                 | No            | 2                  | On Loan: No      |
| TOTALENERGIES CAPITAL SA                                | TotalEnergies Capital SA                                                        | CUSIP: 89157XAC5<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |     209000 | PA      | $200894.27     | 0.00%             | 2064-04-05      | Fixed         | 5.64%                 | No            | 2                  | On Loan: No      |
| TOTALENERGIES CAPITAL SA                                | TotalEnergies Capital SA                                                        | CUSIP: 89157XAF8<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |      90000 | PA      | $83658.60      | 0.00%             | 2064-09-10      | Fixed         | 5.43%                 | No            | 2                  | On Loan: No      |
| TYSON FOODS INC                                         | Tyson Foods Inc                                                                 | CUSIP: 902494BH5<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |     135000 | PA      | $121384.82     | 0.00%             | 2048-09-28      | Fixed         | 5.10%                 | No            | 2                  | On Loan: No      |
| UNION PACIFIC CORP                                      | Union Pacific Corp                                                              | CUSIP: 907818FK9<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |     713000 | PA      | $483497.72     | 0.00%             | 2050-02-05      | Fixed         | 3.25%                 | No            | 2                  | On Loan: No      |
| UNITED RENTALS NORTH AM                                 | United Rentals North America Inc                                                | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     190000 | PA      | $178690.39     | 0.00%             | 2031-02-15      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| US BANCORP                                              | US Bancorp                                                                      | CUSIP: 91159HJY7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     130000 | PA      | $128340.91     | 0.00%             | 2037-01-26      | Fixed         | 5.03%                 | No            | 2                  | On Loan: No      |
| United States Treasury                                  | U.S. Treasury Bonds                                                             | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     909000 | PA      | $893234.53     | 0.01%             | 2045-02-15      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| United States Treasury                                  | U.S. Treasury Bonds                                                             | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     480000 | PA      | $486300.00     | 0.00%             | 2045-05-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury                                  | U.S. Treasury Bonds                                                             | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     582000 | PA      | $580181.25     | 0.01%             | 2045-08-15      | Fixed         | 4.88%                 | No            | 2                  | On Loan: No      |
| United States Treasury                                  | U.S. Treasury Bonds                                                             | CUSIP: 912810UP1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      50000 | PA      | $47757.81      | 0.00%             | 2055-11-15      | Fixed         | 4.63%                 | No            | 2                  | On Loan: No      |
| United States Treasury                                  | U.S. Treasury Bonds                                                             | CUSIP: 912810UQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     401000 | PA      | $386777.03     | 0.00%             | 2045-11-15      | Fixed         | 4.63%                 | No            | 2                  | On Loan: No      |
| United States Treasury                                  | U.S. Treasury Bonds                                                             | CUSIP: 912810UT3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     338000 | PA      | $325747.50     | 0.00%             | 2046-02-15      | Fixed         | 4.63%                 | No            | 2                  | On Loan: No      |
| RTX CORP                                                | RTX Corp                                                                        | CUSIP: 913017BP3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     380000 | PA      | $408650.42     | 0.00%             | 2038-07-15      | Fixed         | 6.13%                 | No            | 2                  | On Loan: No      |
| RTX CORP                                                | RTX Corp                                                                        | CUSIP: 913017CJ6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |      70000 | PA      | $53209.69      | 0.00%             | 2046-11-01      | Fixed         | 3.75%                 | No            | 2                  | On Loan: No      |
| UNITEDHEALTH GROUP INC                                  | UnitedHealth Group Inc                                                          | CUSIP: 91324PFC1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    1193000 | PA      | $1096280.45    | 0.01%             | 2054-04-15      | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| Vanguard Total Bond Market ETF                          | Vanguard Total Bond Market ETF                                                  | CUSIP: 921937835<br>LEI: CIJB0QNLPT2SSWMJ5W92 | Long             | EC               | RF                | US        |    2200000 | NS      | $162008000.00  | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Intermediate-Term Corporate Bond ETF           | Vanguard Intermediate-Term Corporate Bond ETF                                   | CUSIP: 92206C870<br>LEI: VKDXEYNPEMWGHJ22MR31 | Long             | EC               | RF                | US        |    2431600 | NS      | $201214900.00  | 1.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard S&P 500 ETF                                    | Vanguard S&P 500 ETF                                                            | CUSIP: 922908363<br>LEI: 549300D8V8ZP5GRJOC71 | Long             | EC               | RF                | US        |      67000 | NS      | $40035850.00   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| VERIZON COMMUNICATIONS                                  | Verizon Communications Inc                                                      | CUSIP: 92343VGK4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     855000 | PA      | $657458.36     | 0.01%             | 2041-03-22      | Fixed         | 3.40%                 | No            | 2                  | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                | Virginia Electric and Power Co                                                  | CUSIP: 927804GX6<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |     920000 | PA      | $896444.46     | 0.01%             | 2036-03-15      | Fixed         | 4.95%                 | No            | 2                  | On Loan: No      |
| VODAFONE GROUP PLC                                      | Vodafone Group PLC                                                              | CUSIP: 92857WCB4<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |     240000 | PA      | $227124.14     | 0.00%             | 2064-06-28      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| WALMART INC                                             | Walmart Inc                                                                     | CUSIP: 931142EV1<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     160000 | PA      | $98529.14      | 0.00%             | 2051-09-22      | Fixed         | 2.65%                 | No            | 2                  | On Loan: No      |
| WELLS FARGO & COMPANY                                   | Wells Fargo & Co                                                                | CUSIP: 95000U2M4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     595000 | PA      | $525036.28     | 0.00%             | 2051-04-04      | Fixed         | 5.01%                 | No            | 2                  | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                | Western Midstream Operating LP                                                  | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     241000 | PA      | $203651.47     | 0.00%             | 2048-03-01      | Fixed         | 5.30%                 | No            | 2                  | On Loan: No      |
| WILLIAMS COMPANIES INC                                  | Williams Cos Inc/The                                                            | CUSIP: 969457BV1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     330000 | PA      | $321550.58     | 0.00%             | 2044-06-24      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| WOODSIDE FINANCE LTD                                    | Woodside Finance Ltd                                                            | CUSIP: 980236AV5<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |      93000 | PA      | $96836.03      | 0.00%             | 2035-05-19      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| XCEL ENERGY INC                                         | Xcel Energy Inc                                                                 | CUSIP: 98389BAX8<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |     525000 | PA      | $366920.86     | 0.00%             | 2049-12-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Barclays Capital, Inc.                                  | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              |  | AU        |          1 | NC      | $-95439.55     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Capital, Inc.                                  | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              |  | CA        |          1 | NC      | $306936.90     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Capital, Inc.                                  | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              |  | CA        |          1 | NC      | $-46901.81     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Capital, Inc.                                  | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              |  | CH        |          1 | NC      | $1025695.66    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Capital, Inc.                                  | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              |  | NO        |          1 | NC      | $-115611.50    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Capital, Inc.                                  | AUSTRALIA DOLLAR                                                                | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              |  | AU        |          1 | NC      | $-178373.04    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Capital, Inc.                                  | BRITISH POUND                                                                   | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              |  | GB        |          1 | NC      | $-395232.42    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Capital, Inc.                                  | NEW ZEALAND DOLLAR                                                              | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              |  | NZ        |          1 | NC      | $107013.56     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Euronext Paris Matif                                    | CAC40 10 EURO APR 26                                                            | CUSIP: 000000000<br>LEI: 969500HMVSZ0TCV65D58 | N/A              | DE               |  | FR        |        212 | NC      | $-324701.84    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Global Markets, Inc.                               | SPX US 12/17/27 P5300                                                           | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               |  | US        |       1350 | NC      | $32670000.00   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Global Markets, Inc.                               | SPX US 12/17/27 P5500                                                           | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               |  | US        |        455 | NC      | $12717250.00   | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Global Markets, Inc.                               | SPX US 06/18/26 P6650                                                           | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               |  | US        |         77 | NC      | $2135595.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Global Markets, Inc.                               | SPX US 06/18/26 C6650                                                           | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               |  | US        |        -77 | NC      | $-1534225.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Global Markets, Inc.                               | SPX US 06/18/26 P6420                                                           | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               |  | US        |         92 | NC      | $1801360.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Global Markets, Inc.                               | SPX US 06/18/26 C6420                                                           | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               |  | US        |        -92 | NC      | $-3180440.00   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Global Markets, Inc.                          | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              |  | XX        |          1 | NC      | $94160.00      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Citigroup Global Markets, Inc.                          | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              |  | NO        |          1 | NC      | $-112744.79    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Citigroup Global Markets, Inc.                          | BRITISH POUND                                                                   | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              |  | GB        |          1 | NC      | $117396.12     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                             | S&P500 EMINI JUN 26                                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       1394 | NC      | $-4547062.62   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                             | S&P MID 400 EMINI JUN 26                                                        | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        -30 | NC      | $14493.22      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                             | S&P MID 400 EMINI JUN 26                                                        | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        -92 | NC      | $-312133.49    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US 5YR NOTE JUN 26                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        110 | NC      | $38473.93      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US 5YR NOTE JUN 26                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       3377 | NC      | $-4142431.50   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US 5YR NOTE JUN 26                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         -1 | NC      | $1560.95       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                             | AUSTRALIA DOLLAR                                                                | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | AU        |          1 | NC      | $-96771.00     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                       | DAX INDEX JUN 26                                                                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |          8 | NC      | $-239287.20    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| HSBC Bank Co. Ltd.                                      | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: 2HI3YI5320L3RW6NJ957 | N/A              | DFE              |  | CA        |          1 | NC      | $265626.46     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank Co. Ltd.                                      | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: 2HI3YI5320L3RW6NJ957 | N/A              | DFE              |  | SE        |          1 | NC      | $3345084.68    | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank Co. Ltd.                                      | NORWAY KRONA                                                                    | CUSIP: 000000000<br>LEI: 2HI3YI5320L3RW6NJ957 | N/A              | DFE              |  | NO        |          1 | NC      | $141168.62     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Meff Financial Derivatives                              | IBEX 35 INDEX APR 26                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | ES        |         11 | NC      | $-21467.46     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                  | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: 984500653R409CC5AB28 | N/A              | DFE              |  | CA        |          1 | NC      | $588891.52     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                  | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: 984500653R409CC5AB28 | N/A              | DFE              |  | XX        |          1 | NC      | $-404693.27    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                  | EURO COUNTRIES                                                                  | CUSIP: 000000000<br>LEI: 984500653R409CC5AB28 | N/A              | DFE              |  | XX        |          1 | NC      | $-70524.64     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                  | JAPANESE YEN                                                                    | CUSIP: 000000000<br>LEI: 984500653R409CC5AB28 | N/A              | DFE              |  | JP        |          1 | NC      | $-745813.23    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank NA                                  | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: G1MLHIS0N32I3QPILB75 | N/A              | DFE              |  | JP        |          1 | NC      | $-1617.76      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank NA                                  | EURO COUNTRIES                                                                  | CUSIP: 000000000<br>LEI: G1MLHIS0N32I3QPILB75 | N/A              | DFE              |  | XX        |          1 | NC      | $50705.06      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank NA                                  | NORWAY KRONA                                                                    | CUSIP: 000000000<br>LEI: G1MLHIS0N32I3QPILB75 | N/A              | DFE              |  | NO        |          1 | NC      | $-313314.16    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank NA                                  | NEW ZEALAND DOLLAR                                                              | CUSIP: 000000000<br>LEI: G1MLHIS0N32I3QPILB75 | N/A              | DFE              |  | NZ        |          1 | NC      | $-127610.55    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank NA                                  | SWEDISH KRONA                                                                   | CUSIP: 000000000<br>LEI: G1MLHIS0N32I3QPILB75 | N/A              | DFE              |  | SE        |          1 | NC      | $-217414.66    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                             | NASDAQ 100 E-MINI JUN 26                                                        | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        240 | NC      | $-3325085.49   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| The Montreal Exchange/Bourse De Montreal                | S&P/TSE 60 INDEX JUN 26                                                         | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DE               |  | CA        |        195 | NC      | $436320.59     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Montreal Exchange/Bourse De Montreal                | S&P/TSE 60 INDEX JUN 26                                                         | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DE               |  | CA        |         15 | NC      | $-8938.43      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nasdaq Stockholm AB                                     | OMXS30 INDEX APR 26                                                             | CUSIP: 000000000<br>LEI: 549300KBQIVNEJEZVL96 | N/A              | DE               |  | SE        |       -105 | NC      | $-66123.78     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.            | MSCI SING IX ETS APR 26                                                         | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DE               |  | SG        |        -11 | NC      | $-1457.18      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                             | RUSSELL 2000 EMINI CME JUN 26                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       -325 | NC      | $-223315.27    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Italian Derivatives Market                              | FTSE/MIB INDEX JUN 26                                                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | IT        |       -107 | NC      | $135966.95     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Osaka Exchange                                          | TOPIX INDEX JUN 26                                                              | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |        -16 | NC      | $7421.96       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US 2YR NOTE JUN 26                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       1535 | NC      | $-1587894.83   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR NOTE JUN 26                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         35 | NC      | $17433.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR NOTE JUN 26                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        424 | NC      | $-443410.47    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR NOTE JUN 26                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -16 | NC      | $36352.16      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UBS Securities LLC                                      | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              |  | CH        |          1 | NC      | $344767.48     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| UBS Securities LLC                                      | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              |  | JP        |          1 | NC      | $39952.74      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| UBS Securities LLC                                      | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              |  | SE        |          1 | NC      | $-271718.33    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| UBS Securities LLC                                      | BRITISH POUND                                                                   | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              |  | GB        |          1 | NC      | $-623235.69    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                  | US LONG BOND JUN 26                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         40 | NC      | $36484.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US LONG BOND JUN 26                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        411 | NC      | $-385218.91    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                       | EURO STOXX 50 JUN 26                                                            | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |      -1522 | NC      | $3012615.65    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                       | EURO STOXX 50 JUN 26                                                            | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |       -390 | NC      | $-174295.26    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo Securities LLC                              | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              |  | AU        |          1 | NC      | $581377.99     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Wells Fargo Securities LLC                              | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              |  | CH        |          1 | NC      | $333519.17     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Wells Fargo Securities LLC                              | US DOLLARS                                                                      | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              |  | CH        |          1 | NC      | $-50630.53     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Wells Fargo Securities LLC                              | JAPANESE YEN                                                                    | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              |  | JP        |          1 | NC      | $55726.37      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Wells Fargo Securities LLC                              | NEW ZEALAND DOLLAR                                                              | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              |  | NZ        |          1 | NC      | $-148610.83    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Wells Fargo Securities LLC                              | SWEDISH KRONA                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              |  | SE        |          1 | NC      | $-310984.13    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                  | US ULTRA T-BOND JUN 26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         40 | NC      | $32263.75      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US ULTRA T-BOND JUN 26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        359 | NC      | $-230864.73    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                  | US ULTRA T-BOND JUN 26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -33 | NC      | $113589.55     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ASX Clear (Futures)                                     | SPI 200 JUN 26                                                                  | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DE               |  | AU        |         -3 | NC      | $-1378.61      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division        | FTSE 100 INDEX JUN 26                                                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DE               |  | GB        |         -5 | NC      | $-16694.44     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Global Markets, Inc.                               | SPX US 12/17/27 P5400                                                           | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               |  | US        |       1000 | NC      | $26030000.00   | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2026-05-04

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

**Signature:** Jennifer Borges

**Name of Signer:** Jennifer Borges

**Title:** Senior Manager