# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001193125-25-298513
**Filing Date:** 2025-11
**Character Count:** 56021
**Document Hash:** 2f75e4cc7466f46511b6f2d4456d456c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-298513.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001193125-25-298513

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**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:** 251524086

**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 - Partners International Growth Fund (Series ID: S000028707)

| Class ID   | Class Name                                                      | Ticker Symbol   |
|:---|:---|:---|
| C000087832 | Variable Portfolio - Partners International Growth Fund Class 1 |  |
| C000087833 | Variable Portfolio - Partners International Growth Fund Class 2 |  |

## Nport-Ex

![](img79c06cfd1.jpg)

Variable Portfolio – Partners International Growth Fund

**Third Quarter Report**

September 30, 2025 (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 – Partners International Growth Fund, September 30, 2025 (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;

---

| | | |
|:---|:---|:---|
| **Common Stocks 98.2%** | **Common Stocks 98.2%** | **Common Stocks 98.2%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Australia 1.7%** | **Australia 1.7%** | **Australia 1.7%** |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 178258 | &nbsp;&nbsp; 8252182 |
| Cochlear Ltd. | &nbsp;&nbsp; 21600 | &nbsp;&nbsp; 3980574 |
| CSL Ltd. | &nbsp;&nbsp; 44100 | &nbsp;&nbsp; 5801190 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 28288 | &nbsp;&nbsp; 5759318 |
| **Total** | **Total** | &nbsp;&nbsp; **23793264** |
| **Austria 1.5%** | **Austria 1.5%** | **Austria 1.5%** |
| Erste Group Bank AG | &nbsp;&nbsp; 209293 | &nbsp;&nbsp; 20574034 |
| **Belgium 1.1%** | **Belgium 1.1%** | **Belgium 1.1%** |
| UCB SA | &nbsp;&nbsp; 52504 | &nbsp;&nbsp; 14655702 |
| **Brazil 1.9%** | **Brazil 1.9%** | **Brazil 1.9%** |
| MercadoLibre, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 7949 | &nbsp;&nbsp; 18576336 |
| NU Holdings Ltd., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 429961 | &nbsp;&nbsp; 6883676 |
| **Total** | **Total** | &nbsp;&nbsp; **25460012** |
| **Canada 6.4%** | **Canada 6.4%** | **Canada 6.4%** |
| Alimentation Couche-Tard, Inc. | &nbsp;&nbsp; 142600 | &nbsp;&nbsp; 7607997 |
| Brookfield Asset Management Ltd., Class A | &nbsp;&nbsp; 240732 | &nbsp;&nbsp; 13707280 |
| Canadian National Railway Co. | &nbsp;&nbsp; 66900 | &nbsp;&nbsp; 6308799 |
| Celestica, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 16196 | &nbsp;&nbsp; 3990371 |
| Constellation Software, Inc. | &nbsp;&nbsp; 3258 | &nbsp;&nbsp; 8844334 |
| Dollarama, Inc. | &nbsp;&nbsp; 125407 | &nbsp;&nbsp; 16538910 |
| Intact Financial Corp. | &nbsp;&nbsp; 71769 | &nbsp;&nbsp; 13963420 |
| Royal Bank of Canada | &nbsp;&nbsp; 109323 | &nbsp;&nbsp; 16112908 |
| **Total** | **Total** | &nbsp;&nbsp; **87074019** |
| **China 3.1%** | **China 3.1%** | **China 3.1%** |
| BYD Co., Ltd., Class H | &nbsp;&nbsp; 729000 | &nbsp;&nbsp; 10304181 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 171400 | &nbsp;&nbsp; 14604926 |
| Trip.com Group Ltd. | &nbsp;&nbsp; 228400 | &nbsp;&nbsp; 17321298 |
| **Total** | **Total** | &nbsp;&nbsp; **42230405** |
| **Denmark 0.9%** | **Denmark 0.9%** | **Denmark 0.9%** |
| Coloplast A/S, Class B | &nbsp;&nbsp; 67500 | &nbsp;&nbsp; 5817833 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 111800 | &nbsp;&nbsp; 6225210 |
| **Total** | **Total** | &nbsp;&nbsp; **12043043** |
| **Finland 0.6%** | **Finland 0.6%** | **Finland 0.6%** |
| KONE OYJ, Class B | &nbsp;&nbsp; 115800 | &nbsp;&nbsp; 7898619 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **France 8.3%** | **France 8.3%** | **France 8.3%** |
| Air Liquide SA | &nbsp;&nbsp; 126583 | &nbsp;&nbsp; 26374407 |
| Dassault Systemes SE | &nbsp;&nbsp; 195400 | &nbsp;&nbsp; 6573455 |
| Hermes International SCA | &nbsp;&nbsp; 6615 | &nbsp;&nbsp; 16266548 |
| L'Oreal SA | &nbsp;&nbsp; 18600 | &nbsp;&nbsp; 8081460 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 11700 | &nbsp;&nbsp; 7199961 |
| Safran SA | &nbsp;&nbsp; 58300 | &nbsp;&nbsp; 20688866 |
| Schneider Electric SE | &nbsp;&nbsp; 20850 | &nbsp;&nbsp; 5868694 |
| TotalEnergies SE | &nbsp;&nbsp; 110800 | &nbsp;&nbsp; 6748677 |
| VINCI SA | &nbsp;&nbsp; 116995 | &nbsp;&nbsp; 16259025 |
| **Total** | **Total** | &nbsp;&nbsp; **114061093** |
| **Germany 6.8%** | **Germany 6.8%** | **Germany 6.8%** |
| Adidas AG | &nbsp;&nbsp; 22050 | &nbsp;&nbsp; 4671986 |
| Heidelberg Materials AG | &nbsp;&nbsp; 98337 | &nbsp;&nbsp; 22228658 |
| Infineon Technologies AG | &nbsp;&nbsp; 191000 | &nbsp;&nbsp; 7492963 |
| Merck KGaA | &nbsp;&nbsp; 49100 | &nbsp;&nbsp; 6370465 |
| MTU Aero Engines AG | &nbsp;&nbsp; 5991 | &nbsp;&nbsp; 2763873 |
| Rheinmetall AG | &nbsp;&nbsp; 7780 | &nbsp;&nbsp; 18198752 |
| SAP SE | &nbsp;&nbsp; 78421 | &nbsp;&nbsp; 20998574 |
| Siemens Energy AG<sup>(a)</sup> <br>| &nbsp;&nbsp; 87908 | &nbsp;&nbsp; 10336146 |
| **Total** | **Total** | &nbsp;&nbsp; **93061417** |
| **Hong Kong 3.9%** | **Hong Kong 3.9%** | **Hong Kong 3.9%** |
| AIA Group Ltd. | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 29710294 |
| Hong Kong Exchanges and Clearing Ltd. | &nbsp;&nbsp; 315500 | &nbsp;&nbsp; 17911110 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 89700 | &nbsp;&nbsp; 5660714 |
| **Total** | **Total** | &nbsp;&nbsp; **53282118** |
| **India 2.3%** | **India 2.3%** | **India 2.3%** |
| Bharat Electronics Ltd. | &nbsp;&nbsp; 2187830 | &nbsp;&nbsp; 9958648 |
| Bharti Airtel Ltd. | &nbsp;&nbsp; 447274 | &nbsp;&nbsp; 9459618 |
| ICICI Bank Ltd. | &nbsp;&nbsp; 820154 | &nbsp;&nbsp; 12429637 |
| **Total** | **Total** | &nbsp;&nbsp; **31847903** |
| **Ireland 0.4%** | **Ireland 0.4%** | **Ireland 0.4%** |
| Flutter Entertainment PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 21881 | &nbsp;&nbsp; 5557774 |

---

Variable Portfolio – Partners International Growth Fund \| 2025

------

Portfolio of Investments (continued)

Variable Portfolio – Partners International Growth Fund, September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Italy 6.3%** | **Italy 6.3%** | **Italy 6.3%** |
| Enel SpA | &nbsp;&nbsp; 2150517 | &nbsp;&nbsp; 20379462 |
| Ferrari NV | &nbsp;&nbsp; 25564 | &nbsp;&nbsp; 12404164 |
| Ferrari NV | &nbsp;&nbsp; 17100 | &nbsp;&nbsp; 8288727 |
| Prysmian SpA | &nbsp;&nbsp; 211484 | &nbsp;&nbsp; 21047203 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 79900 | &nbsp;&nbsp; 4876696 |
| UniCredit SpA | &nbsp;&nbsp; 252093 | &nbsp;&nbsp; 19183045 |
| **Total** | **Total** | &nbsp;&nbsp; **86179297** |
| **Japan 13.2%** | **Japan 13.2%** | **Japan 13.2%** |
| Asics Corp. | &nbsp;&nbsp; 598000 | &nbsp;&nbsp; 15648163 |
| Capcom Co., Ltd. | &nbsp;&nbsp; 103500 | &nbsp;&nbsp; 2810130 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 45300 | &nbsp;&nbsp; 5221374 |
| Disco Corp. | &nbsp;&nbsp; 62900 | &nbsp;&nbsp; 19721699 |
| Don Quijote Holdings Co., Ltd. | &nbsp;&nbsp; 1425500 | &nbsp;&nbsp; 9385411 |
| Hitachi Ltd. | &nbsp;&nbsp; 413900 | &nbsp;&nbsp; 10965481 |
| Hoya Corp. | &nbsp;&nbsp; 54700 | &nbsp;&nbsp; 7563389 |
| IHI Corp. | &nbsp;&nbsp; 856000 | &nbsp;&nbsp; 15942379 |
| Keyence Corp. | &nbsp;&nbsp; 21400 | &nbsp;&nbsp; 7972803 |
| NEC Corp. | &nbsp;&nbsp; 481200 | &nbsp;&nbsp; 15402773 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 445100 | &nbsp;&nbsp; 17088301 |
| Obic Co., Ltd. | &nbsp;&nbsp; 161000 | &nbsp;&nbsp; 5611398 |
| Shimadzu Corp. | &nbsp;&nbsp; 130700 | &nbsp;&nbsp; 3295928 |
| Shin-Etsu Chemical Co., Ltd. | &nbsp;&nbsp; 223100 | &nbsp;&nbsp; 7305083 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp; 586600 | &nbsp;&nbsp; 16502744 |
| Sysmex Corp. | &nbsp;&nbsp; 271000 | &nbsp;&nbsp; 3350201 |
| Terumo Corp. | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 6186196 |
| Tokio Marine Holdings, Inc. | &nbsp;&nbsp; 250600 | &nbsp;&nbsp; 10606182 |
| **Total** | **Total** | &nbsp;&nbsp; **180579635** |
| **Netherlands 5.5%** | **Netherlands 5.5%** | **Netherlands 5.5%** |
| ASML Holding NV | &nbsp;&nbsp; 35385 | &nbsp;&nbsp; 34506994 |
| Euronext NV<sup>(b)</sup> <br>| &nbsp;&nbsp; 22345 | &nbsp;&nbsp; 3345302 |
| Prosus NV, Class N<sup>(a)</sup> <br>| &nbsp;&nbsp; 328786 | &nbsp;&nbsp; 23250119 |
| Universal Music Group NV | &nbsp;&nbsp; 272600 | &nbsp;&nbsp; 7877448 |
| Wolters Kluwer NV | &nbsp;&nbsp; 47300 | &nbsp;&nbsp; 6456446 |
| **Total** | **Total** | &nbsp;&nbsp; **75436309** |
| **Singapore 0.5%** | **Singapore 0.5%** | **Singapore 0.5%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 3239724 | &nbsp;&nbsp; 7010741 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **South Korea 1.7%** | **South Korea 1.7%** | **South Korea 1.7%** |
| SK Hynix, Inc. | &nbsp;&nbsp; 94085 | &nbsp;&nbsp; 23323482 |
| **Spain 4.1%** | **Spain 4.1%** | **Spain 4.1%** |
| Amadeus IT Group SA, Class A | &nbsp;&nbsp; 91600 | &nbsp;&nbsp; 7281262 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 1133115 | &nbsp;&nbsp; 21834710 |
| Iberdrola SA | &nbsp;&nbsp; 997690 | &nbsp;&nbsp; 18885608 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 155200 | &nbsp;&nbsp; 8589364 |
| **Total** | **Total** | &nbsp;&nbsp; **56590944** |
| **Sweden 0.5%** | **Sweden 0.5%** | **Sweden 0.5%** |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 423300 | &nbsp;&nbsp; 6369589 |
| **Switzerland 6.9%** | **Switzerland 6.9%** | **Switzerland 6.9%** |
| ABB Ltd. | &nbsp;&nbsp; 300863 | &nbsp;&nbsp; 21771449 |
| Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp; 546 | &nbsp;&nbsp; 8347627 |
| Lonza Group AG, Registered Shares | &nbsp;&nbsp; 32939 | &nbsp;&nbsp; 22024278 |
| Roche Holding AG, Genusschein Shares | &nbsp;&nbsp; 23800 | &nbsp;&nbsp; 7925009 |
| Sandoz Group AG, ADR | &nbsp;&nbsp; 373139 | &nbsp;&nbsp; 22255015 |
| SGS SA, Registered Shares | &nbsp;&nbsp; 68000 | &nbsp;&nbsp; 7066549 |
| VAT Group AG | &nbsp;&nbsp; 13600 | &nbsp;&nbsp; 5428678 |
| **Total** | **Total** | &nbsp;&nbsp; **94818605** |
| **Taiwan 6.8%** | **Taiwan 6.8%** | **Taiwan 6.8%** |
| Accton Technology Corp. | &nbsp;&nbsp; 363000 | &nbsp;&nbsp; 12552979 |
| Sea Ltd. ADR<sup>(a)</sup> <br>| &nbsp;&nbsp; 131584 | &nbsp;&nbsp; 23518008 |
| Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp; 935000 | &nbsp;&nbsp; 40614368 |
| &nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co., Ltd., <br> ADR<br>| &nbsp;&nbsp; 60620 | &nbsp;&nbsp; 16930560 |
| **Total** | **Total** | &nbsp;&nbsp; **93615915** |
| **United Kingdom 12.8%** | **United Kingdom 12.8%** | **United Kingdom 12.8%** |
| 3i Group PLC | &nbsp;&nbsp; 407671 | &nbsp;&nbsp; 22472041 |
| BAE Systems PLC | &nbsp;&nbsp; 640784 | &nbsp;&nbsp; 17837140 |
| Compass Group PLC | &nbsp;&nbsp; 556375 | &nbsp;&nbsp; 18964465 |
| Diploma PLC | &nbsp;&nbsp; 292158 | &nbsp;&nbsp; 20911555 |
| Experian PLC | &nbsp;&nbsp; 470487 | &nbsp;&nbsp; 23631231 |
| Halma PLC | &nbsp;&nbsp; 442575 | &nbsp;&nbsp; 20602207 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 102148 | &nbsp;&nbsp; 12350757 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 102298 | &nbsp;&nbsp; 11731854 |
| National Grid PLC | &nbsp;&nbsp; 369200 | &nbsp;&nbsp; 5304913 |
| Sage Group PLC (The) | &nbsp;&nbsp; 460500 | &nbsp;&nbsp; 6831288 |

---

Variable Portfolio – Partners International Growth Fund \| 2025

------

Portfolio of Investments (continued)

Variable Portfolio – Partners International Growth Fund, September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Unilever PLC | &nbsp;&nbsp; 249012 | &nbsp;&nbsp; 14718763 |
| **Total** | **Total** | &nbsp;&nbsp; **175356214** |
| **United States 1.0%** | **United States 1.0%** | **United States 1.0%** |
| Spotify Technology SA<sup>(a)</sup> <br>| &nbsp;&nbsp; 18586 | &nbsp;&nbsp; 12973028 |
| &nbsp;&nbsp; Total Common Stocks <br>(Cost $1,107,491,740) | &nbsp;&nbsp; Total Common Stocks <br>(Cost $1,107,491,740) | &nbsp;&nbsp; **1343793162** |

---

---

| | | |
|:---|:---|:---|
| **Money Market Funds 1.3%** | **Money Market Funds 1.3%** | **Money Market Funds 1.3%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 4.265%<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 17296408 | &nbsp;&nbsp; 17291219 |
| &nbsp;&nbsp; Total Money Market Funds <br>(Cost $17,289,150) | &nbsp;&nbsp; Total Money Market Funds <br>(Cost $17,289,150) | &nbsp;&nbsp; **17291219** |
| **Total Investments in Securities** <br>**(Cost $1,124,780,890)** | **Total Investments in Securities** <br>**(Cost $1,124,780,890)** | &nbsp;&nbsp; **1361084381** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **6979797** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$1368064178** |

---

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) 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 September 30, 2025, the total value of these securities amounted to $3,345,302, which represents 0.24% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The rate shown is the seven-day current annualized yield at September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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 September 30, 2025 are as follows:

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends($)** | **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% |
|  | 14730881 | &nbsp;&nbsp; 318928377 | &nbsp;&nbsp; (316370108)<br>| &nbsp;&nbsp; 2069 | &nbsp;&nbsp; 17291219 | &nbsp;&nbsp; (3454)<br>| &nbsp;&nbsp; 694395 | &nbsp;&nbsp; 17296408 |

---

**Abbreviation Legend** 

ADR American Depositary Receipt

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

Variable Portfolio – Partners International Growth Fund \| 2025

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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.

3QT7055_12_D01_(11/25)

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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:** 02110

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

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

- **a. Name of Series:** Variable Portfolio - Partners International Growth Fund

- **b. EDGAR series identifier (if any):** S000028707

- **c. LEI of Series:** 549300HHF6TNQJ3KI830

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $1382085122.63

**Total Liabilities:** $13161933.87

**Net Assets:** $1368923188.76

**Cash Not Reported:** $19619.39

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000087832 | -3.00%               | 2.03%                | 2.31%                |
| Class ID C000087833 | -2.95%               | 1.97%                | 2.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10155972.69             | $-51257135.94                              |
| Month 2  | $-1216968.62             | $27457354.32                               |
| Month 3  | $19366937.99             | $11315984.72                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABB LTD                                        | ABB Ltd                                        | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |    300863 | NS      | $21771448.62  | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| ADIDAS AG                                      | adidas AG                                      | CUSIP: 000000000<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |     22050 | NS      | $4671986.00   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| L AIR LIQUIDE SA                               | Air Liquide SA                                 | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |    126583 | NS      | $26374407.07  | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| AMADEUS IT GROUP SA                            | Amadeus IT Group SA                            | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |     91600 | NS      | $7281261.77   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| ARISTOCRAT LEISURE LTD                         | Aristocrat Leisure Ltd                         | CUSIP: 000000000<br>LEI: 529900TE2HO3OZKYKC27 | Long             | EC               | CORP              | AU        |    178258 | NS      | $8252182.48   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPITALAND ASCENDAS REIT                       | CapitaLand Ascendas REIT                       | CUSIP: 000000000<br>LEI: 549300ILIBAEMQZK3L20 | Long             | EC               | CORP              | SG        |   3239724 | NS      | $7010740.63   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| ASICS CORP                                     | Asics Corp                                     | CUSIP: 000000000<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |    598000 | NS      | $15648162.75  | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARGENTARIA SA             | Banco Bilbao Vizcaya Argentaria SA             | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |   1133115 | NS      | $21834710.57  | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML HOLDING NV                                | ASML Holding NV                                | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     35385 | NS      | $34506994.38  | 2.52%             |  |  |  | No            |                  2 | On Loan: No      |
| BHARTI AIRTEL LTD                              | Bharti Airtel Ltd                              | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |    447274 | NS      | $9459617.37   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| BHARAT ELECTRONICS                             | Bharat Electronics Ltd                         | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |   2187830 | NS      | $9958647.95   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                                | BAE Systems PLC                                | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    640784 | NS      | $17837139.53  | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| BROOKFIELD ASSET MANAGEMENT LTD                | Brookfield Asset Management Ltd                | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Long             | EC               | CORP              | CA        |    240732 | NS      | $13707280.08  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DIPLOMA PLC                                    | Diploma PLC                                    | CUSIP: 000000000<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |    292158 | NS      | $20911554.54  | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| DISCO CORP                                     | Disco Corp                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     62900 | NS      | $19721698.73  | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| PAN PACIFIC INTERNATIONAL HOLDINGS CORP        | Pan Pacific International Holdings Corp        | CUSIP: 000000000<br>LEI: 529900QLHJM2E18A5763 | Long             | EC               | CORP              | JP        |   1425500 | NS      | $9385410.60   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEL SPA                                       | Enel SpA                                       | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |   2150517 | NS      | $20379461.74  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| ERSTE GROUP BANK AG                            | Erste Group Bank AG                            | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |    209293 | NS      | $20574034.16  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| LONZA GROUP AG                                 | Lonza Group AG                                 | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |     32939 | NS      | $22024278.48  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                               | MercadoLibre Inc                               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      7949 | NS      | $18576336.06  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK KGAA                                     | Merck KGaA                                     | CUSIP: 000000000<br>LEI: 529900OAREIS0MOPTW25 | Long             | EC               | CORP              | DE        |     49100 | NS      | $6370464.93   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| TOKIO MARINE HOLDINGS INC                      | Tokio Marine Holdings Inc                      | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |    250600 | NS      | $10606182.29  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| ACCTON                                         | Accton Technology Corp                         | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |    363000 | NS      | $12552979.01  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| MTU AERO ENGINES AG                            | MTU Aero Engines AG                            | CUSIP: 000000000<br>LEI: 529900807L67JY81RD65 | Long             | EC               | CORP              | DE        |      5991 | NS      | $2763872.85   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| NEC CORP                                       | NEC Corp                                       | CUSIP: 000000000<br>LEI: 5493000QYMPFRTEY4K28 | Long             | EC               | CORP              | JP        |    481200 | NS      | $15402772.84  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| PRO MEDICUS LTD                                | Pro Medicus Ltd                                | CUSIP: 000000000<br>LEI: 98450085A903D1BMFF27 | Long             | EC               | CORP              | AU        |     28288 | NS      | $5759317.55   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA RESEARCH INST LTD                       | Nomura Research Institute Ltd                  | CUSIP: 000000000<br>LEI: 5299005F1HCVF4M4QN79 | Long             | EC               | CORP              | JP        |    445100 | NS      | $17088301.04  | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| OBIC                                           | Obic Co Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    161000 | NS      | $5611398.25   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| PRYSMIAN SPA                                   | Prysmian SpA                                   | CUSIP: 000000000<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |    211484 | NS      | $21047203.03  | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA SPA | Recordati Industria Chimica e Farmaceutica SpA | CUSIP: 000000000<br>LEI: 815600FBF92FD3531704 | Long             | EC               | CORP              | IT        |     79900 | NS      | $4876696.06   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| RHEINMETALL AG                                 | Rheinmetall AG                                 | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |      7780 | NS      | $18198752.51  | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                           | Royal Bank of Canada                           | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |    109323 | NS      | $16112907.78  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFRAN SA                                      | Safran SA                                      | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     58300 | NS      | $20688866.04  | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| SAGE GROUP PLC                                 | Sage Group PLC/The                             | CUSIP: 000000000<br>LEI: 2138005RN5XYLTF8G138 | Long             | EC               | CORP              | GB        |    460500 | NS      | $6831288.42   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                         | SAP SE                                         | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     78421 | NS      | $20998574.09  | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| SCHNEIDER ELECTRIC SE                          | Schneider Electric SE                          | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     20850 | NS      | $5868693.74   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| SEA LTD                                        | Sea Ltd                                        | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |    131584 | NS      | $23518008.32  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| SYSMEX CORP                                    | Sysmex Corp                                    | CUSIP: 000000000<br>LEI: 5299001ZO4CKWACMZI55 | Long             | EC               | CORP              | JP        |    300400 | NS      | $3713654.71   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD      | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     60620 | NS      | $16930559.80  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HOLDINGS LTD                           | Tencent Holdings Ltd                           | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |    171400 | NS      | $14604925.82  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| TERUMO CORP                                    | Terumo Corp                                    | CUSIP: 000000000<br>LEI: 353800JX1R4582QVK932 | Long             | EC               | CORP              | JP        |    375000 | NS      | $6186195.62   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| TOTALENERGIES SE                               | TotalEnergies SE                               | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    110800 | NS      | $6748676.76   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| UCB SA                                         | UCB SA                                         | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |     52504 | NS      | $14655701.95  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| UNILEVER PLC                                   | Unilever PLC                                   | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    249012 | NS      | $14718762.70  | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| VINCI SA                                       | Vinci SA                                       | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |    116995 | NS      | $16259024.63  | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| WOLTERS KLUWER NV                              | Wolters Kluwer NV                              | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |     47300 | NS      | $6456445.97   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| CONSTELLATION SOFTWARE INC                     | Constellation Software Inc/Canada              | CUSIP: 000000000<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |      3258 | NS      | $8844333.43   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLARAMA INC                                  | Dollarama Inc                                  | CUSIP: 000000000<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | EC               | CORP              | CA        |    125407 | NS      | $16538909.81  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA GROUP LTD                                  | AIA Group Ltd                                  | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |   3100000 | NS      | $29710293.72  | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| FERRARI NV                                     | Ferrari NV                                     | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |     17100 | NS      | $8288727.06   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL GRID PLC                              | National Grid PLC                              | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |    369200 | NS      | $5304913.28   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| INTRCONT HOTELS                                | InterContinental Hotels Group PLC              | CUSIP: 000000000<br>LEI: 2138007ZFQYRUSLU3J98 | Long             | EC               | CORP              | GB        |    102148 | NS      | $12350757.27  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| PROSUS NV                                      | Prosus NV                                      | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |    328786 | NS      | $23250119.48  | 1.70%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD INC                   | Alimentation Couche-Tard Inc                   | CUSIP: 000000000<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |    142600 | NS      | $7607997.41   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLAS COPCO AB                                 | Atlas Copco AB                                 | CUSIP: 000000000<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |    423300 | NS      | $6369588.77   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| SANDOZ GROUP AG                                | Sandoz Group AG                                | CUSIP: 000000000<br>LEI: 5493000JWK6XWFEUD320 | Long             | EC               | CORP              | CH        |    373139 | NS      | $22255015.40  | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| DASSAULT SYSTEMES                              | Dassault Systemes SE                           | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |    195400 | NS      | $6573455.25   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| SGS SA                                         | SGS SA                                         | CUSIP: 000000000<br>LEI: 2138007JNS19JHNA2336 | Long             | EC               | CORP              | CH        |     68000 | NS      | $7066548.90   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| SIEMENS ENERGY AG                              | Siemens Energy AG                              | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     87908 | NS      | $10336145.67  | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| EURONEXT NV                                    | Euronext NV                                    | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |     34657 | NS      | $5188549.00   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| TRIP.COM GROUP LTD                             | Trip.com Group Ltd                             | CUSIP: 000000000<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |    228400 | NS      | $17321298.32  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| UNIVERSAL MUSIC GROUP NV                       | Universal Music Group NV                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |    272600 | NS      | $7877447.84   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVO NORDISK A/S                               | Novo Nordisk A/S                               | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |    111800 | NS      | $6225210.39   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                                  | UniCredit SpA                                  | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |    252093 | NS      | $19183044.65  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| VAT GROUP AG                                   | VAT Group AG                                   | CUSIP: 000000000<br>LEI: 529900MVFK7NVALR7Y83 | Long             | EC               | CORP              | CH        |     13600 | NS      | $5428678.01   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| FLUTTER ENTERTAINMENT PLC                      | Flutter Entertainment PLC                      | CUSIP: G3643J108<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | IE        |     44269 | NS      | $11244326.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NU HOLDINGS LTD                                | NU Holdings Ltd/Cayman Islands                 | CUSIP: G6683N103<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |    429961 | NS      | $6883675.61   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOTIFY TECHNOLOGY SA                          | Spotify Technology SA                          | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |     18586 | NS      | $12973028.00  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| FERRARI NV                                     | Ferrari NV                                     | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |     25564 | NS      | $12404164.08  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD CO LTD                                     | BYD Co Ltd                                     | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |    729000 | NS      | $10304180.41  | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| CSL LTD                                        | CSL Ltd                                        | CUSIP: 000000000<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |     44100 | NS      | $5801190.46   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| CANADIAN NTL RAIL CO                           | Canadian National Railway Co                   | CUSIP: 000000000<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |     66900 | NS      | $6308799.31   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPCOM CO LTD                                  | Capcom Co Ltd                                  | CUSIP: 000000000<br>LEI: 529900JJWQKXS3TC8744 | Long             | EC               | CORP              | JP        |     99700 | NS      | $2706955.73   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| CELESTICA INC                                  | Celestica Inc                                  | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |     16196 | NS      | $3990370.48   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| COCHLEAR LTD                                   | Cochlear Ltd                                   | CUSIP: 000000000<br>LEI: 5493001OLLWY8KV5UC08 | Long             | EC               | CORP              | AU        |     21600 | NS      | $3980573.87   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| COLOPLAST A/S                                  | Coloplast A/S                                  | CUSIP: 000000000<br>LEI: 529900NN7SOJ5QG82X67 | Long             | EC               | CORP              | DK        |     67500 | NS      | $5817832.44   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| COLUMBIA SHORT TERM CASH FUND                  | COLUMBIA SHORT TERM CASH FUND                  | CUSIP: 19766H239<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  17296408 | NS      | $17291219.36  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS GROUP PLC                              | Compass Group PLC                              | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    556375 | NS      | $18964464.86  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| DAIKIN INDUSTRIES LTD                          | Daikin Industries Ltd                          | CUSIP: 000000000<br>LEI: 549300Y7FWSTSHMW5Y57 | Long             | EC               | CORP              | JP        |     45300 | NS      | $5221373.75   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| EXPERIAN PLC                                   | Experian PLC                                   | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | JE        |    470487 | NS      | $23631231.50  | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| HALMA PLC                                      | Halma PLC                                      | CUSIP: 000000000<br>LEI: 2138007FRGLUR9KGBT40 | Long             | EC               | CORP              | GB        |    442575 | NS      | $20602207.42  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| HEIDELBERG MATERIALS AG                        | Heidelberg Materials AG                        | CUSIP: 000000000<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |     98337 | NS      | $22228658.56  | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| HERMES INTERNATIONAL SCA                       | Hermes International SCA                       | CUSIP: 000000000<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |      6615 | NS      | $16266547.58  | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| HITACHI LTD                                    | Hitachi Ltd                                    | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |    413900 | NS      | $10965481.05  | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| HONG KONG EXCHANGES AND CLEARING               | Hong Kong Exchanges & Clearing Ltd             | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |    315500 | NS      | $17911110.49  | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCHE HOLDING AG                               | Roche Holding AG                               | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     23800 | NS      | $7925008.88   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| HOYA CORP                                      | Hoya Corp                                      | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     54700 | NS      | $7563388.71   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| 3I GRP PLC                                     | 3i Group PLC                                   | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |    407671 | NS      | $22472040.61  | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| SK HYNIX INC                                   | SK Hynix Inc                                   | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     94085 | NS      | $23323482.15  | 1.70%             |  |  |  | No            |                  2 | On Loan: No      |
| INTACT FINANCIAL CORP                          | Intact Financial Corp                          | CUSIP: 000000000<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |     71769 | NS      | $13963420.37  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| IBERDROLA SA                                   | Iberdrola SA                                   | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |    997690 | NS      | $18885608.18  | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI BANK LIMITED                             | ICICI Bank Ltd                                 | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    820154 | NS      | $12429637.24  | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| INDUSTRIA DE DISENO TEXTIL SA                  | Industria de Diseno Textil SA                  | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |    155200 | NS      | $8589363.78   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| INFINEON TECHNOLOGIES AG                       | Infineon Technologies AG                       | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |    191000 | NS      | $7492962.78   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| IHI CORP                                       | IHI Corp                                       | CUSIP: 000000000<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |    582200 | NS      | $10843052.95  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| JARDINE MATHESON HOLDINGS LIMITED              | Jardine Matheson Holdings Ltd                  | CUSIP: 000000000<br>LEI: 2138009KENVUNWOLPK41 | Long             | EC               | CORP              | BM        |     89700 | NS      | $5660713.69   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| KEYENCE CORP                                   | Keyence Corp                                   | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     21400 | NS      | $7972803.53   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| KONE OYJ                                       | Kone Oyj                                       | CUSIP: 000000000<br>LEI: 2138001CNF45JP5XZK38 | Long             | EC               | CORP              | FI        |    115800 | NS      | $7898619.47   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| LOREAL SA                                      | L'Oreal SA                                     | CUSIP: 000000000<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |     18600 | NS      | $8081460.49   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON               | LVMH Moet Hennessy Louis Vuitton SE            | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |     11700 | NS      | $7199961.32   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| LINDT & SPRUENGLI AG                           | Chocoladefabriken Lindt & Spruengli AG         | CUSIP: 000000000<br>LEI: 529900JYJNNOKKAGK736 | Long             | EC               | CORP              | CH        |       546 | NS      | $8347626.76   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| LONDON STOCK EXCHANGE GROUP PLC                | London Stock Exchange Group PLC                | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |    102298 | NS      | $11731853.65  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| SHIMADZU CORP                                  | Shimadzu Corp                                  | CUSIP: 000000000<br>LEI: 353800Y64Z08WEH8PH97 | Long             | EC               | CORP              | JP        |    130700 | NS      | $3295928.52   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| SHIN-ETSU CHEM CO LTD                          | Shin-Etsu Chemical Co Ltd                      | CUSIP: 000000000<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |    223100 | NS      | $7305082.82   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FIN GRP INC                    | Sumitomo Mitsui Financial Group Inc            | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    586600 | NS      | $16502744.41  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD      | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    935000 | NS      | $40614368.42  | 2.97%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-21

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

**Signature:** Martha Skinner

**Name of Signer:** Martha Skinner

**Title:** Assistant Treasurer