# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001413032-25-000104
**Filing Date:** 2025-8
**Character Count:** 18532
**Document Hash:** f9ed320e19567f73922d23856e9a8cbe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001413032-25-000104.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001413032-25-000104

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22127
- **FILM NUMBER:** 251244768

**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 - Conservative Portfolio (Series ID: S000028704)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000087826 | Variable Portfolio - Conservative Portfolio Class 4 |  |
| C000087827 | Variable Portfolio - Conservative Portfolio Class 2 |  |
| C000209989 | Variable Portfolio - Conservative Portfolio Class 1 |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

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

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

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

- **b. EDGAR series identifier (if any):** S000028704

- **c. LEI of Series:** 54930008L48RA2CYZ859

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $802346934.92

**Total Liabilities:** $242520.79

**Net Assets:** $802104414.13

**Cash Not Reported:** $10822.43

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 279185.697500000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 1098.561000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000087826 | 0.43%                | 0.55%                | 2.49%                |
| Class ID C000087827 | 0.43%                | 0.49%                | 2.49%                |
| Class ID C000209989 | 0.42%                | 0.54%                | 2.51%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-641580.66              | $4200268.59                                |
| Month 2  | $2705879.91              | $2323014.98                                |
| Month 3  | $-5163966.09             | $23202960.76                               |

**Designated Index Information**

- **Index Name:** 80 LEH_AGG / 14 RS3000 / 6 MS_EAFE USD FLOAT Index

- **Index Identifier:** LHAIRSUSD

### Schedule of Portfolio Investments

| Name                                                    | Title                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Columbia Variable Portfolio - Small Cap Value Fund      | Columbia Variable Portfolio - Small Cap Value Fund      | CUSIP: 19765R303<br>LEI: QFDZC6A36M07XEWD4L46 | Long             | EC               | RF                | US        |    241782 | NS      | $3184266.07   | 0.40%             |  |  |  | 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        |   3155079 | NS      | $23757742.23  | 2.96%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA CONTRARIAN CORE CL I MF                        | COLUMBIA VP CONTRARIAN CORE-1                           | CUSIP: 19765R535<br>LEI: N/A                  | Long             | EC               | RF                | US        |    327526 | NS      | $18836025.72  | 2.35%             |  |  |  | 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        |    220002 | NS      | $3176831.94   | 0.40%             |  |  |  | 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        |  16582421 | NS      | $165658384.65 | 20.65%            |  |  |  | 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        |    445438 | NS      | $5643697.66   | 0.70%             |  |  |  | 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        |    157148 | NS      | $7580807.75   | 0.95%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - PRINCIPAL LARGE CAP GROWTH FUND                 | CTIVP PRINCIPAL LG CAP GRO FD 1                         | CUSIP: 19766E277<br>LEI: N/A                  | Long             | EC               | RF                | US        |     50777 | NS      | $3982407.01   | 0.50%             |  |  |  | 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        |  12990399 | NS      | $120940614.90 | 15.08%            |  |  |  | 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        |    534100 | NS      | $6382493.23   | 0.80%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP EMERGING MARKETS FUN                        | COLUMBIA VP EMERG MKT FD CL 1                           | CUSIP: 19766E376<br>LEI: N/A                  | Long             | EC               | RF                | US        |    319826 | NS      | $3729174.65   | 0.46%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP OVERSEAS CORE-1                             | Columbia Variable Portfolio - Overseas Core Fund        | CUSIP: 19766E418<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2065884 | NS      | $33136777.60  | 4.13%             |  |  |  | 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        |    167181 | NS      | $7986250.61   | 1.00%             |  |  |  | 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        |    203526 | NS      | $10434774.23  | 1.30%             |  |  |  | No            | N/A                | On Loan: No      |
| JPMorgan                                                | FTSE 100 INDEX SEP 25                                   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | GB        |       -31 | NC      | $49180.19     | 0.01%             |  |  |  | No            | 1                  | 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        |   4840212 | NS      | $44529947.16  | 5.55%             |  |  |  | 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        |   1673471 | NS      | $16550626.66  | 2.06%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP INCOME OPPORTUNITIES 1                      | COLUMBIA VP INCOME OPPORTUNITIES 1                      | CUSIP: 19766E673<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2390670 | NS      | $15969674.30  | 1.99%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VARIABLE PORTFOLIO - CORPORATE BOND FUND       | COLUMBIA VP - CORP BOND FD 1                            | CUSIP: 19766E749<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2615337 | NS      | $19928867.06  | 2.48%             |  |  |  | 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        |     75291 | NS      | $8741341.76   | 1.09%             |  |  |  | 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        |  11461977 | NS      | $101209261.28 | 12.62%            |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA SHORT TERM CASH FUND                           | COLUMBIA SHORT TERM CASH FUND                           | CUSIP: 19766H239<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  46702524 | NS      | $46693183.61  | 5.82%             |  |  |  | No            | 1                  | On Loan: No      |
| CTIVP - WELLINGTON LG CAP VAL FD 1                      | Variable Portfolio-MFS Value Fund                       | CUSIP: 19766L305<br>LEI: N/A                  | Long             | EC               | RF                | US        |     86275 | NS      | $4004900.08   | 0.50%             |  |  |  | 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        |   1221821 | NS      | $29592493.50  | 3.69%             |  |  |  | No            | N/A                | On Loan: No      |
| COLUMBIA VP EM BOND FUND-1                              | COLUMBIA VP EMERGING MARKETS BOND                       | CUSIP: 19766L586<br>LEI: N/A                  | Long             | EC               | RF                | US        |    979925 | NS      | $7966788.47   | 0.99%             |  |  |  | No            | N/A                | On Loan: No      |
| CTIVP - WESTFIELD SELECT LARGE CAP GROWTH FUND          | CTIVP - WESTFIELD SLCT LGCAP GRO 1                      | CUSIP: 19766L610<br>LEI: N/A                  | Long             | EC               | RF                | US        |     62480 | NS      | $3968111.66   | 0.49%             |  |  |  | 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        |   8507221 | NS      | $80648453.49  | 10.05%            |  |  |  | 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        |     97775 | NS      | $3978474.43   | 0.50%             |  |  |  | No            | N/A                | On Loan: No      |
| JPMorgan                                                | CAC40 10 EURO JUL 25                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | FR        |        45 | NC      | $-39120.17    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | S&P500 EMINI SEP 25                                     | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |        35 | NC      | $387321.90    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | IBEX 35 INDEX JUL 25                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | ES        |        25 | NC      | $-31339.28    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | MSCI EAFE INDEX SEP 25                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |         9 | NC      | $8234.46      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | S&P/TSE 60 INDEX SEP 25                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | CA        |        32 | NC      | $97069.63     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | RUSSELL 2000 EMINI CME SEP 25                           | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |        14 | NC      | $51100.28     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | FTSE/MIB INDEX SEP 25                                   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | IT        |       -38 | NC      | $11792.96     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | US 10YR NOTE SEP 25                                     | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |       191 | NC      | $466814.70    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | EURO STOXX 50 SEP 25                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | DE        |       -81 | NC      | $31737.30     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan                                                | US ULTRA T-BOND SEP 25                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |        33 | NC      | $205767.70    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-07-23

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

**Signature:** Martha Skinner

**Name of Signer:** Martha Skinner

**Title:** Assistant Treasurer