# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001145549-25-052543
**Filing Date:** 2025-8
**Character Count:** 69101
**Document Hash:** 4e30839258feb9c69c670a7e31967d7f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-052543.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001145549-25-052543

**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:** 251244743

**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

### Columbia Variable Portfolio - Emerging Markets Bond Fund (Series ID: S000036677)

| Class ID   | Class Name                                                       | Ticker Symbol   |
|:---|:---|:---|
| C000112082 | Columbia Variable Portfolio - Emerging Markets Bond Fund Class 1 |  |
| C000112083 | Columbia Variable Portfolio - Emerging Markets Bond Fund Class 2 |  |

## 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:** Columbia Variable Portfolio - Emerging Markets Bond Fund

- **b. EDGAR series identifier (if any):** S000036677

- **c. LEI of Series:** WX76Y338FLQB28CHCG53

**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:** $392294938.80

**Total Liabilities:** $2271893.36

**Net Assets:** $390023045.44

**Delayed Delivery Securities:** $915239.88

**Cash Not Reported:** $5108253.57

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000000 | **1-Year:** 3664.933600000000 | **5-Year:** 19975.240100000000 | **10-Year:** 41950.145800000000 | **30-Year:** 70261.817000000000

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

- **3-Month:** 14.004100000000 | **1-Year:** 3765.600800000000 | **5-Year:** 23676.244100000000 | **10-Year:** 45322.390500000000 | **30-Year:** 37859.880800000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000112082 | -0.38%               | 1.00%                | 2.30%                |
| Class ID C000112083 | -0.50%               | 1.00%                | 2.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2476341.80             | $-418472.14                                |
| Month 2  | $-1358297.33             | $3497149.77                                |
| Month 3  | $-1714693.34             | $9123422.19                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EGYPT (ARAB REPUBLIC OF)                             | EGYPT (ARAB REPUBLIC OF)           | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     2208000 | PA      | $2409948.21   | 0.62%             | 2031-04-11      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GUATEMALA REPUBLIC OF (GOVERNMENT)                   | GUATEMALA (REPUBLIC OF)            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GT        |      489000 | PA      | $443939.34    | 0.11%             | 2050-06-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT)           | BRAZIL FEDERATIVE REPUBLIC OF      | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      589700 | PA      | $951853.97    | 0.24%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| OCP SA                                               | OCP SA                             | CUSIP: 000000000<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | NUSS              | MA        |     3071000 | PA      | $2334106.36   | 0.60%             | 2051-06-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ABU DHABI (EMIRATE OF)                               | ABU DHABI (EMIRATE OF)             | CUSIP: 000000000<br>LEI: 213800FER4348CINTA77 | Long             | DBT              | NUSS              | AE        |     1600000 | PA      | $1496788.22   | 0.38%             | 2029-09-30      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| KSA SUKUK LTD                                        | KSA SUKUK LTD                      | CUSIP: 000000000<br>LEI: 635400XBJFPNCGN9CK71 | Long             | DBT              | NUSS              | KY        |     1000000 | PA      | $941039.02    | 0.24%             | 2029-10-29      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| LG CHEM LTD                                          | LG CHEM LTD                        | CUSIP: 000000000<br>LEI: 988400IES4EIG7O06940 | Long             | DBT              | CORP              | KR        |     1536000 | PA      | $1486328.16   | 0.38%             | 2026-07-07      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIA KINGDOM OF (GOVERNMENT)                 | SAUDI ARABIA (KINGDOM OF)          | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     1900000 | PA      | $1779966.15   | 0.46%             | 2030-10-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ECUADOR REPUBLIC OF (GOVERNMENT)                     | ECUADOR (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | EC        |     2200000 | PA      | $1903162.43   | 0.49%             | 2030-07-31      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| ECUADOR REPUBLIC OF (GOVERNMENT)                     | ECUADOR (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | EC        |     1100000 | PA      | $799437.47    | 0.20%             | 2035-07-31      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| ECUADOR REPUBLIC OF (GOVERNMENT)                     | ECUADOR (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | EC        |     2485221 | PA      | $1565346.66   | 0.40%             | 2040-07-31      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD            | ADANI PORTS AND SPECIAL ECONOMIC Z | CUSIP: 000000000<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |     2600000 | PA      | $2050726.58   | 0.53%             | 2041-08-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA (REPUBLIC OF)                                | ROMANIA (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     7694000 | PA      | $6566244.76   | 1.68%             | 2031-02-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| EIG PEARL HOLDINGS SARL                              | EIG PEARL HOLDINGS SARL            | CUSIP: 000000000<br>LEI: 549300KIMRL45BWA5H76 | Long             | DBT              | CORP              | LU        |     2431974 | PA      | $2163982.51   | 0.55%             | 2036-08-31      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| OMAN SULTANATE OF (GOVERNMENT)                       | OMAN (SULTANATE OF)                | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |     1846000 | PA      | $1925034.41   | 0.49%             | 2027-10-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HUNGARY (GOVERNMENT)                                 | HUNGARY (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |     1930000 | PA      | $1137763.39   | 0.29%             | 2051-09-21      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA SA                            | PETROLEOS DE VENEZUELA SA          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | VE        |    12559928 | PA      | $1586040.96   | 0.41%             | 2024-05-16      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA (REPUBLIC OF)                                | ROMANIA (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     3786000 | PA      | $3242679.43   | 0.83%             | 2032-03-27      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| HUNGARY (GOVERNMENT)                                 | HUNGARY (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |     5637000 | PA      | $4680572.65   | 1.20%             | 2031-09-22      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| COLUMBIA SHORT TERM CASH FUND                        | COLUMBIA SHORT TERM CASH FUND      | CUSIP: 19766H239<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    27745100 | NS      | $27739551.20  | 7.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPORACION NACIONAL DEL COBRE DE CHILE              | CORPORACION NACIONAL DEL COBRE DE  | CUSIP: 21987BBG2<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | NUSS              | CL        |     5354000 | PA      | $5449361.01   | 1.40%             | 2034-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CORPORACION NACIONAL DEL COBRE DE CHILE              | CORPORACION NACIONAL DEL COBRE DE  | CUSIP: 21987BBK3<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | NUSS              | CL        |     1991000 | PA      | $2081088.02   | 0.53%             | 2036-01-26      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| COSTA RICA (REPUBLIC OF)                             | COSTA RICA (REPUBLIC OF)           | CUSIP: 221597CV7<br>LEI: N/A                  | Long             | DBT              | NUSS              | CR        |      754000 | PA      | $780758.19    | 0.20%             | 2054-11-13      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| COTE D IVOIRE (REPUBLIC OF)                          | COTE D IVOIRE (REPUBLIC OF)        | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     1157000 | PA      | $1116033.51   | 0.29%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC (GOVERNMENT)                      | DOMINICAN REPUBLIC                 | CUSIP: 25714PCW6<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      271000 | PA      | $267909.08    | 0.07%             | 2045-01-27      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| INDONESIA (REPUBLIC OF)                              | INDONESIA (REPUBLIC OF)            | CUSIP: 455780CK0<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |     1900000 | PA      | $1837389.12   | 0.47%             | 2029-09-18      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| INDONESIA (REPUBLIC OF)                              | INDONESIA (REPUBLIC OF)            | CUSIP: 455780CN4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |     2255000 | PA      | $1683475.30   | 0.43%             | 2049-10-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| NK KAZMUNAYGAZ AO                                    | KAZMUNAYGAS NATIONAL CO            | CUSIP: 48667QAQ8<br>LEI: N/A                  | Long             | DBT              | NUSS              | KZ        |     1997000 | PA      | $2007262.71   | 0.51%             | 2030-04-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                                    | MDGH GMTN RSC LTD                  | CUSIP: 55285GAB0<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | NUSS              | AE        |     1808000 | PA      | $1881343.97   | 0.48%             | 2033-04-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| POLAND (REPUBLIC OF)                                 | POLAND (REPUBLIC OF)               | CUSIP: 731011AY8<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     3384000 | PA      | $3396114.73   | 0.87%             | 2034-09-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| POLAND (REPUBLIC OF)                                 | POLAND (REPUBLIC OF)               | CUSIP: 731011AZ5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     1919000 | PA      | $1779082.54   | 0.46%             | 2054-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE SA                              | RAIZEN FUELS FINANCE SA            | CUSIP: 75102XAF3<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |      926000 | PA      | $918574.65    | 0.24%             | 2032-07-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| URUGUAY (ORIENTAL REPUBLIC OF)                       | URUGUAY (THE REPUBLIC OF)          | CUSIP: 760942AY8<br>LEI: N/A                  | Long             | DBT              | NUSS              | UY        |     1077570 | PA      | $912928.09    | 0.23%             | 2045-11-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| COLOMBIA (REPUBLIC OF)                               | COLOMBIA (REPUBLIC OF)             | CUSIP: 195325ES0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     1158000 | PA      | $1204665.30   | 0.31%             | 2035-04-25      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE REPUBLIC OF (GOVERNMENT)                     | UKRAINE (REPUBLIC OF)              | CUSIP: 903724CE0<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |      980171 | PA      | $379370.54    | 0.10%             | 2034-02-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MEXICO (UNITED MEXICAN STATES) (GOVERNMENT)          | MEXICO (UNITED MEXICAN STATES)     | CUSIP: 91087BAB6<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     2300000 | PA      | $1660963.11   | 0.43%             | 2047-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| MEXICO (UNITED MEXICAN STATES) (GOVERNMENT)          | MEXICO (UNITED MEXICAN STATES)     | CUSIP: 91087BAD2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     4730000 | PA      | $3521210.84   | 0.90%             | 2048-02-10      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| MEXICO (UNITED MEXICAN STATES) (GOVERNMENT)          | UNITED MEXICAN STATES              | CUSIP: 91087BBA7<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     4493000 | PA      | $4139364.46   | 1.06%             | 2054-05-07      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| ZAMBIA (REPUBLIC OF)                                 | ZAMBIA (REPUBLIC OF)               | CUSIP: 988895AQ1<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |      817284 | PA      | $748346.29    | 0.19%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| ZAMBIA (REPUBLIC OF)                                 | ZAMBIA (REPUBLIC OF)               | CUSIP: 988895AR9<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     2480214 | PA      | $1681804.43   | 0.43%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD (UAE)                                   | DP WORLD LTD                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AE        |     5900000 | PA      | $6431978.53   | 1.65%             | 2037-07-02      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| MEXICO (UNITED MEXICAN STATES) (GOVERNMENT)          | MEXICAN BONOS                      | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    15000000 | PA      | $797787.80    | 0.20%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| EGYPT (ARAB REPUBLIC OF)                             | EGYPT (ARAB REPUBLIC OF)           | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     1491000 | PA      | $1145046.80   | 0.29%             | 2048-02-21      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| QATAR (STATE OF)                                     | QATAR (STATE OF)                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | QA        |      772000 | PA      | $727761.61    | 0.19%             | 2048-04-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CORPORACION NACIONAL DEL COBRE DE CHILE              | CORPORACION NACIONAL DEL COBRE DE  | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | NUSS              | CL        |     1005000 | PA      | $756641.11    | 0.19%             | 2049-02-05      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| QATAR (STATE OF)                                     | QATAR (STATE OF)                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | QA        |    10910000 | PA      | $10822114.81  | 2.77%             | 2029-03-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC (GOVERNMENT)                      | DOMINICAN REPUBLIC                 | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     1550000 | PA      | $1454247.79   | 0.37%             | 2049-06-05      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| COTE D IVOIRE (REPUBLIC OF)                          | COTE D IVOIRE (REPUBLIC OF)        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     4067000 | PA      | $4527189.98   | 1.16%             | 2031-10-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIA KINGDOM OF (GOVERNMENT)                 | SAUDI ARABIA (KINGDOM OF)          | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |      930000 | PA      | $632200.44    | 0.16%             | 2055-01-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GAZ FINANCE PLC                                      | GAZPROM PJSC                       | CUSIP: 000000000<br>LEI: 213800UNP9N6BPNYMQ45 | Long             | DBT              | NUSS              | GB        |     2254000 | PA      | $1524216.55   | 0.39%             | 2030-02-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| EGYPT (ARAB REPUBLIC OF)                             | EGYPT (ARAB REPUBLIC OF)           | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     2218000 | PA      | $2051979.66   | 0.53%             | 2032-05-29      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC (GOVERNMENT)                      | DOMINICAN (REPUBLIC OF)            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     1487000 | PA      | $1373718.55   | 0.35%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HOLDINGS CO LTD                       | COUNTRY GARDEN HOLDINGS CO LTD     | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |     4800000 | PA      | $357476.15    | 0.09%             | 2026-07-12      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELECTRICIDAD                     | COMISION FEDERAL DE ELECTRICIDAD   | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | NUSS              | MX        |     4200000 | PA      | $3570491.46   | 0.92%             | 2033-07-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NIGERIA (FEDERAL REPUBLIC OF)                        | NIGERIA (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     2796000 | PA      | $2496332.94   | 0.64%             | 2033-09-28      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ANGOLA (REPUBLIC OF)                                 | ANGOLA (REPUBLIC OF)               | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      846000 | PA      | $749187.13    | 0.19%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SRC SUKUK LTD                                        | SRC SUKUK LIMITED                  | CUSIP: 000000000<br>LEI: 254900F2OG3526JLAV10 | Long             | DBT              | NUSS              | KY        |     2600000 | PA      | $2620352.81   | 0.67%             | 2028-02-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA (REPUBLIC OF)                                | ROMANIA (REPUBLIC OF)              | CUSIP: 77586RAK6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     9762000 | PA      | $9401475.21   | 2.41%             | 2027-02-27      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA (REPUBLIC OF)                                | ROMANIA (REPUBLIC OF)              | CUSIP: 77586RAW0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     1636000 | PA      | $1699388.83   | 0.44%             | 2037-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                              | SASOL FINANCING USA LLC            | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |     3324000 | PA      | $2728614.05   | 0.70%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIA KINGDOM OF (GOVERNMENT)                 | SAUDI ARABIA INTERNATIONAL         | CUSIP: 80413TAR0<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     1700000 | PA      | $1155635.21   | 0.30%             | 2055-01-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIA KINGDOM OF (GOVERNMENT)                 | SAUDI INTERNATIONAL BOND           | CUSIP: 80413TAW9<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     4500000 | PA      | $2770829.19   | 0.71%             | 2061-02-02      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIA KINGDOM OF (GOVERNMENT)                 | SAUDI ARABIA (KINGDOM OF)          | CUSIP: 80413TBD0<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     1830000 | PA      | $1831037.13   | 0.47%             | 2033-07-18      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIA KINGDOM OF (GOVERNMENT)                 | SAUDI ARABIA KINGDOM OF (GOVERNMEN | CUSIP: 80413TBL2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     1964000 | PA      | $2047871.26   | 0.53%             | 2035-01-13      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SISECAM UK PLC                                       | SISECAM UK PLC                     | CUSIP: 829688AB6<br>LEI: 789000T82YRLMLUOC889 | Long             | DBT              | CORP              | GB        |     3154000 | PA      | $3190732.06   | 0.82%             | 2032-05-02      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SOUTH AFRICA (REPUBLIC OF)                           | SOUTH AFRICA (REPUBLIC OF)         | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     1034000 | PA      | $776106.04    | 0.20%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTH AFRICA (REPUBLIC OF)                           | SOUTH AFRICA (REPUBLIC OF)         | CUSIP: 836205BE3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     2050000 | PA      | $1848272.86   | 0.47%             | 2052-04-20      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| SOUTH AFRICA (REPUBLIC OF)                           | SOUTH AFRICA (REPUBLIC OF)         | CUSIP: 836205BG8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     1262000 | PA      | $1203244.23   | 0.31%             | 2054-11-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| TURKEY (REPUBLIC OF)                                 | TURKEY (REPUBLIC OF)               | CUSIP: 900123CJ7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     3300000 | PA      | $3274992.65   | 0.84%             | 2026-04-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TURKEY (REPUBLIC OF)                                 | TURKEY (REPUBLIC OF)               | CUSIP: 900123CM0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      500000 | PA      | $374660.00    | 0.10%             | 2047-05-11      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TURKEY (REPUBLIC OF)                                 | TURKEY (REPUBLIC OF)               | CUSIP: 900123CP3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     8000000 | PA      | $7846205.49   | 2.01%             | 2028-02-17      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TURKEY (REPUBLIC OF)                                 | TURKEY (REPUBLIC OF)               | CUSIP: 900123CT5<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     1885000 | PA      | $1969823.62   | 0.51%             | 2029-04-26      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TURKEY (REPUBLIC OF)                                 | TURKEY (REPUBLIC OF)               | CUSIP: 900123CY4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     4749000 | PA      | $4515701.09   | 1.16%             | 2030-03-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TURKEY (REPUBLIC OF)                                 | TURKEY (REPUBLIC OF)               | CUSIP: 900123DH0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     1600000 | PA      | $1762129.28   | 0.45%             | 2029-03-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| TURKEY (REPUBLIC OF)                                 | TURKEY (REPUBLIC OF)               | CUSIP: 900123DK3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     4335000 | PA      | $4441430.51   | 1.14%             | 2034-05-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TURKEY (REPUBLIC OF)                                 | TURKEY (REPUBLIC OF)               | CUSIP: 900123DN7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     1000000 | PA      | $943164.40    | 0.24%             | 2035-01-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE REPUBLIC OF (GOVERNMENT)                     | UKRAINE (REPUBLIC OF)              | CUSIP: 903724CA8<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     1575787 | PA      | $808938.61    | 0.21%             | 2034-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| UKRAINE REPUBLIC OF (GOVERNMENT)                     | UKRAINE (REPUBLIC OF)              | CUSIP: 903724CB6<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     4480482 | PA      | $2269210.43   | 0.58%             | 2035-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| UKRAINE REPUBLIC OF (GOVERNMENT)                     | UKRAINE (REPUBLIC OF)              | CUSIP: 903724CC4<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     1735886 | PA      | $859466.89    | 0.22%             | 2036-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| UKRAINE REPUBLIC OF (GOVERNMENT)                     | UKRAINE (REPUBLIC OF)              | CUSIP: 903724CD2<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |      262298 | PA      | $126244.78    | 0.03%             | 2030-02-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NK KAZMUNAYGAZ AO                                    | JSC NATIONAL KAZMUNAYGAS           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | KZ        |     5924000 | PA      | $5131909.57   | 1.32%             | 2047-04-19      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Azerbaijan                                           | AZERBAIJAN (REPUBLIC OF)           | CUSIP: 000000000<br>LEI: 549300P74FF45UQVU281 | Long             | DBT              | NUSS              | AZ        |     1340000 | PA      | $1192655.31   | 0.31%             | 2032-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NIGERIA (FEDERAL REPUBLIC OF)                        | NIGERIA (REPUBLIC OF)              | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     1739000 | PA      | $1387210.93   | 0.36%             | 2047-11-28      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LTD                                | DP WORLD CRESCENT LTD              | CUSIP: 000000000<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | NUSS              | KY        |     2000000 | PA      | $2001253.69   | 0.51%             | 2028-09-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| PAKISTAN (ISLAMIC REPUBLIC OF)                       | PAKISTAN (ISLAMIC REPUBLIC OF)     | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     1400000 | PA      | $1321479.99   | 0.34%             | 2027-12-05      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OMAN SULTANATE OF (GOVERNMENT)                       | OMAN GOVT INTL BOND                | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |     4233000 | PA      | $4363534.50   | 1.12%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| QATAR (STATE OF)                                     | QATAR (STATE OF)                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | QA        |      200000 | PA      | $202009.22    | 0.05%             | 2028-04-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD (UAE)                                   | DP WORLD LTD                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AE        |     1291000 | PA      | $1202366.44   | 0.31%             | 2048-09-25      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ANGOLA (REPUBLIC OF)                                 | ANGOLA (REPUBLIC OF)               | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     2536000 | PA      | $2019444.98   | 0.52%             | 2048-05-08      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS FINANCE BV                       | BRASKEM NETHERLANDS FINANCE BV     | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |     5091000 | PA      | $3950336.51   | 1.01%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC (GOVERNMENT)                      | DOMINICAN REPUBLIC                 | CUSIP: 25714PDT2<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     4035000 | PA      | $4074994.02   | 1.04%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC (GOVERNMENT)                      | DOMINICAN (REPUBLIC OF)            | CUSIP: 25714PED6<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     3659000 | PA      | $3466759.89   | 0.89%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LTD                                | DP WORLD CRESCENT LTD              | CUSIP: 260979AA7<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | NUSS              | KY        |     1910000 | PA      | $1930218.48   | 0.49%             | 2035-05-08      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ABU DHABI (EMIRATE OF)                               | ABU DHABI (EMIRATE OF)             | CUSIP: 29135LAJ9<br>LEI: 213800FER4348CINTA77 | Long             | DBT              | NUSS              | AE        |      490000 | PA      | $378459.21    | 0.10%             | 2050-04-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EMPRESA NACIONAL DEL PETROLEO EN                     | EMPRESA NACIONAL DEL PETROLEO ENAP | CUSIP: 29245JAN2<br>LEI: N/A                  | Long             | DBT              | NUSS              | CL        |      881000 | PA      | $903050.83    | 0.23%             | 2033-05-10      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| ETHIOPIA FEDERAL DEMOCRATIC REPUBLIC OF (GOVERNMENT) | ETHIOPIA FEDERAL DEMOCRATIC REPUB  | CUSIP: 29766LAA4<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |      610000 | PA      | $561874.29    | 0.14%             | 2024-12-11      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| EXPORT-IMPORT BANK OF INDIA                          | EXPORT-IMPORT BANK OF INDIA        | CUSIP: 30216JAE5<br>LEI: N/A                  | Long             | DBT              | NUSS              | IN        |     2669000 | PA      | $2514904.47   | 0.64%             | 2030-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| EXPORT-IMPORT BANK OF INDIA                          | EXPORT-IMPORT BANK OF INDIA        | CUSIP: 30216KAC6<br>LEI: N/A                  | Long             | DBT              | NUSS              | IN        |     2700000 | PA      | $2653291.03   | 0.68%             | 2028-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS BIDCO LTD                     | GALAXY PIPELINE ASSETS BIDCO LTD   | CUSIP: 36321PAB6<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |     2600000 | PA      | $2207461.53   | 0.57%             | 2036-03-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS BIDCO LTD                     | GALAXY PIPELINE ASSETS BIDCO LTD   | CUSIP: 36321PAE0<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |     3800582 | PA      | $3114036.00   | 0.80%             | 2040-09-30      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| GHANA (REPUBLIC OF)                                  | GHANA (REPUBLIC OF)                | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     5135567 | PA      | $3997557.09   | 1.02%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDCO SA RL                      | GREENSAIF PIPELINES BIDCO SARL     | CUSIP: 39541EAA1<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     1500000 | PA      | $1544315.62   | 0.40%             | 2038-02-23      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDCO SA RL                      | GREENSAIF PIPELINES BIDCO SARL     | CUSIP: 39541EAD5<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     3371000 | PA      | $3403572.15   | 0.87%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDCO SA RL                      | GREENSAIF PIPELINES BIDCO SARL     | CUSIP: 39541EAE3<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     1455000 | PA      | $1453768.89   | 0.37%             | 2042-08-23      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GUATEMALA REPUBLIC OF (GOVERNMENT)                   | GUATEMALA (REPUBLIC OF)            | CUSIP: 401494AT6<br>LEI: N/A                  | Long             | DBT              | NUSS              | GT        |      909000 | PA      | $769197.56    | 0.20%             | 2033-10-07      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GUATEMALA REPUBLIC OF (GOVERNMENT)                   | GUATEMALA (REPUBLIC OF)            | CUSIP: 401494AY5<br>LEI: N/A                  | Long             | DBT              | NUSS              | GT        |      879000 | PA      | $893528.76    | 0.23%             | 2031-08-06      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                        | HTA GROUP LTD                      | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |     1759000 | PA      | $1801790.94   | 0.46%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| JORDAN (HASHEMITE KINGDOM OF)                        | JORDAN (HASHEMITE KINGDOM OF)      | CUSIP: 418097AJ0<br>LEI: N/A                  | Long             | DBT              | NUSS              | JO        |     1361000 | PA      | $1202576.88   | 0.31%             | 2047-10-10      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HUNGARY (GOVERNMENT)                                 | HUNGARY (GOVERNMENT)               | CUSIP: 445545AX4<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |     3854000 | PA      | $3883259.60   | 1.00%             | 2055-09-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                                    | MDGH GMTN RSC LTD                  | CUSIP: 55285GAC8<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | NUSS              | AE        |      279000 | PA      | $254970.67    | 0.07%             | 2053-05-22      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| MONGOLIA (GOVERNMENT OF)                             | MONGOLIA (GOVERNMENT OF)           | CUSIP: 60937LAG0<br>LEI: 254900PW61ADCBDCLP71 | Long             | DBT              | NUSS              | MN        |      488000 | PA      | $510597.72    | 0.13%             | 2028-01-19      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| NIGERIA (FEDERAL REPUBLIC OF)                        | NIGERIA (FEDERAL REPUBLIC OF)      | CUSIP: 65412AFD9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     1024000 | PA      | $1077561.12   | 0.28%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| OCP SA                                               | OCP SA                             | CUSIP: 67091TAJ4<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | NUSS              | MA        |     1158000 | PA      | $1163237.53   | 0.30%             | 2036-03-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| PERTAMINA PERSERO PT                                 | PERTAMINA PERSERO PT               | CUSIP: 69370RAK3<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |     1961000 | PA      | $1921866.65   | 0.49%             | 2026-02-09      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| PAKISTAN (ISLAMIC REPUBLIC OF)                       | PAKISTAN (ISLAMIC REPUBLIC OF)     | CUSIP: 695847AT0<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     1395000 | PA      | $1241517.65   | 0.32%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PANAMA REPUBLIC OF (GOVERNMENT)                      | PANAMA (REPUBLIC OF)               | CUSIP: 698299BN3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     2800000 | PA      | $2136823.80   | 0.55%             | 2032-09-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| PANAMA REPUBLIC OF (GOVERNMENT)                      | PANAMA (REPUBLIC OF)               | CUSIP: 698299BR4<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     2978000 | PA      | $2426811.18   | 0.62%             | 2033-01-19      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| PANAMA REPUBLIC OF (GOVERNMENT)                      | PANAMA (REPUBLIC OF)               | CUSIP: 698299BS2<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     2790000 | PA      | $1793604.17   | 0.46%             | 2063-01-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PANAMA REPUBLIC OF (GOVERNMENT)                      | PANAMA (REPUBLIC OF)               | CUSIP: 698299BX1<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     1494000 | PA      | $1592101.20   | 0.41%             | 2031-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PARAGUAY REPUBLIC OF (GOVERNMENT)                    | PARAGUAY (REPUBLIC OF)             | CUSIP: 699149AB6<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     5068000 | PA      | $4855788.66   | 1.25%             | 2044-08-11      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| PARAGUAY REPUBLIC OF (GOVERNMENT)                    | PARAGUAY (REPUBLIC OF)             | CUSIP: 699149AH3<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     1574000 | PA      | $1351004.80   | 0.35%             | 2050-03-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| PARAGUAY REPUBLIC OF (GOVERNMENT)                    | PARAGUAY (REPUBLIC OF)             | CUSIP: 699149AL4<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     2000000 | PA      | $1811511.39   | 0.46%             | 2033-06-28      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| PERU (REPUBLIC OF)                                   | PERU (REPUBLIC OF)                 | CUSIP: 715638BM3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     5677000 | PA      | $5401223.57   | 1.38%             | 2050-11-18      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PERU (REPUBLIC OF)                                   | PERU (REPUBLIC OF)                 | CUSIP: 715638DU3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     3634000 | PA      | $3056076.39   | 0.78%             | 2034-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN LISTRIK NEGARA (PERSERO) PT               | PERUSAHAAN LISTRIK NEGARA (PERSERO | CUSIP: 71568QAK3<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |     3987000 | PA      | $3250967.32   | 0.83%             | 2049-07-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                  | PETROLEOS MEXICANOS                | CUSIP: 71654QBR2<br>LEI: N/A                  | Long             | DBT              | NUSS              | MX        |     1657000 | PA      | $1173517.62   | 0.30%             | 2045-01-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                  | PETROLEOS MEXICANOS                | CUSIP: 71654QCL4<br>LEI: N/A                  | Long             | DBT              | NUSS              | MX        |     4191000 | PA      | $2917476.84   | 0.75%             | 2048-02-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                  | PETROLEOS MEXICANOS                | CUSIP: 71654QDE9<br>LEI: N/A                  | Long             | DBT              | NUSS              | MX        |     5982000 | PA      | $5401413.13   | 1.38%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                                 | PETRONAS CAPITAL LTD               | CUSIP: 716743AX7<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | NUSS              | MY        |     3920000 | PA      | $3974495.05   | 1.02%             | 2055-04-03      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| PHILIPPINES (REPUBLIC OF)                            | PHILIPPINES (REPUBLIC OF)          | CUSIP: 718286CP0<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     5234000 | PA      | $3673513.92   | 0.94%             | 2046-07-06      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| PHOSAGRO BOND FUNDING DAC                            | PHOSAGRO BOND FUNDING DAC          | CUSIP: 71922LAD1<br>LEI: 635400F8A3KGJIIBIK95 | Long             | DBT              | CORP              | IE        |     2128000 | PA      | $1506351.78   | 0.39%             | 2028-09-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| POLAND (REPUBLIC OF)                                 | POLAND (REPUBLIC OF)               | CUSIP: 731011AV4<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     1700000 | PA      | $1690414.48   | 0.43%             | 2033-10-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NIGERIA (FEDERAL REPUBLIC OF)                        | NIGERIA (FEDERAL REPUBLIC OF)      | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     1600000 | PA      | $1518515.11   | 0.39%             | 2028-09-28      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SK HYNIX INC                                         | SK HYNIX INC                       | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |     2000000 | PA      | $2017697.12   | 0.52%             | 2026-01-17      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZAKHSTAN J                     | DEVELOPMENT BANK OF KAZAKHSTAN JSC | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | KZ        |     1898000 | PA      | $1914553.22   | 0.49%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SRI LANKA (DEMOCRATIC SOCIALIST                      | SRI LANKA (DEMOCRATIC SOCIALIST RE | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      419659 | PA      | $393340.85    | 0.10%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SRI LANKA (DEMOCRATIC SOCIALIST                      | SRI LANKA (DEMOCRATIC SOCIALIST RE | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      429898 | PA      | $382139.82    | 0.10%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| SRI LANKA (DEMOCRATIC SOCIALIST                      | SRI LANKA (DEMOCRATIC SOCIALIST RE | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      843238 | PA      | $676174.97    | 0.17%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| SRI LANKA (DEMOCRATIC SOCIALIST                      | SRI LANKA (DEMOCRATIC SOCIALIST RE | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      569380 | PA      | $388667.88    | 0.10%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| SRI LANKA (DEMOCRATIC SOCIALIST                      | SRI LANKA (DEMOCRATIC SOCIALIST RE | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      395163 | PA      | $319199.77    | 0.08%             | 2036-05-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| SRI LANKA (DEMOCRATIC SOCIALIST                      | SRI LANKA (DEMOCRATIC SOCIALIST RE | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      790658 | PA      | $638686.58    | 0.16%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| ETHIOPIA FEDERAL DEMOCRATIC REPUBLIC OF (GOVERNMENT) | ETHIOPIA (FEDERAL REPUBLIC OF)     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |     1539000 | PA      | $1417581.20   | 0.36%             | 2024-12-11      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                  | PETROLEOS MEXICANOS                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MX        |     4700000 | PA      | $241393.32    | 0.06%             | 2026-11-12      | Fixed         | 7.47%                 | No            |                  2 | On Loan: No      |
| PAKISTAN (ISLAMIC REPUBLIC OF)                       | PAKISTAN (ISLAMIC REPUBLIC OF)     | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      546000 | PA      | $544014.70    | 0.14%             | 2025-09-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| UKRAINE REPUBLIC OF (GOVERNMENT)                     | UKRAINE (GOVERNMENT OF)            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     1600000 | PA      | $1132773.59   | 0.29%             | 2041-08-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DEL PERU PETROPERU SA                      | PETROLEOS DEL PERU - PETROPERU SA  | CUSIP: 000000000<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | NUSS              | PE        |     1900000 | PA      | $1200356.35   | 0.31%             | 2047-06-19      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Citi                                                 | US DOLLARS                         | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | XX        |    -9772331 | OU      | $-237476.10   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| COLOMBIA (REPUBLIC OF)                               | COLOMBIA (REPUBLIC OF)             | CUSIP: P6S32JV23<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 23656000000 | PA      | $3735295.33   | 0.96%             | 2036-07-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VENEZUELA REPUBLIC OF (GOVERNMENT)                   | VENEZUELA (REPUBLIC OF)            | CUSIP: P97475AP5<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |     4300000 | PA      | $689420.66    | 0.18%             | 2024-10-13      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street                                         | US DOLLARS                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | MX        |   -20742607 | OU      | $-23662.89    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ABU DHABI DEVELOPMENTAL HOLDING COMPANY PJSC         | ABU DHABI DEVELOPMENTAL HOLDING CO | CUSIP: 00402AAB7<br>LEI: 254900G082ZFKTCR2Q75 | Long             | DBT              | NUSS              | AE        |     2179000 | PA      | $2169408.32   | 0.56%             | 2035-05-06      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD ASHANTI HOLDINGS PLC                       | ANGLOGOLD ASHANTI HOLDINGS PLC     | CUSIP: 03512TAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | IM        |      735000 | PA      | $689085.04    | 0.18%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| EGYPT (ARAB REPUBLIC OF)                             | EGYPT GOVERNMENT INTL BOND         | CUSIP: 03846JAE0<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     2245000 | PA      | $1991843.34   | 0.51%             | 2033-09-30      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| ARGENTINA REPUBLIC OF GOVERNMENT                     | ARGENTINA (REPUBLIC OF)            | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    18075555 | PA      | $12131047.30  | 3.11%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| ARGENTINA REPUBLIC OF GOVERNMENT                     | ARGENTINA (REPUBLIC OF)            | CUSIP: 040114HW3<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |      703636 | PA      | $460601.39    | 0.12%             | 2046-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| BAHRAIN (KINGDOM OF)                                 | CBB INTERNATIONAL SUKUK CO 7 WLL   | CUSIP: 05675M2J2<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |     2635000 | PA      | $2399410.21   | 0.62%             | 2034-05-18      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT)           | BRAZIL (FEDERATIVE REPUBLIC OF)    | CUSIP: 105756BW9<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     1900000 | PA      | $1447008.31   | 0.37%             | 2045-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT)           | BRAZIL (FEDERATIVE REPUBLIC OF)    | CUSIP: 105756BY5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     1219000 | PA      | $987499.35    | 0.25%             | 2047-02-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT)           | BRAZIL (FEDERATIVE REPUBLIC OF)    | CUSIP: 105756CJ7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      931000 | PA      | $890996.55    | 0.23%             | 2054-05-13      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT)           | BRAZIL (FEDERATIVE REPUBLIC OF)    | CUSIP: 105756CK4<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     1770000 | PA      | $1809379.01   | 0.46%             | 2032-01-22      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CBB INTERNATIONAL SUKUK PROGRAMME COMPANY WLL        | CBB INTERNATIONAL SUKUK CO 7 WLL   | CUSIP: 12482TAC2<br>LEI: 5493006IRJ2IWXTNIM16 | Long             | DBT              | NUSS              | BH        |     3867000 | PA      | $3608389.55   | 0.93%             | 2029-05-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHILE (REPUBLIC OF)                                  | CHILE (REPUBLIC OF)                | CUSIP: 168863DL9<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     3522000 | PA      | $2507968.31   | 0.64%             | 2050-01-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COLOMBIA (REPUBLIC OF)                               | COLOMBIA (REPUBLIC OF)             | CUSIP: 195325BK0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     3400000 | PA      | $3246765.96   | 0.83%             | 2037-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| COLOMBIA (REPUBLIC OF)                               | COLOMBIA (REPUBLIC OF)             | CUSIP: 195325BR5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     1721000 | PA      | $1270177.80   | 0.33%             | 2044-02-26      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COLOMBIA (REPUBLIC OF)                               | COLOMBIA (REPUBLIC OF)             | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      611000 | PA      | $614223.04    | 0.16%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| COLOMBIA (REPUBLIC OF)                               | COLOMBIA (REPUBLIC OF)             | CUSIP: 195325EM3<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     3497000 | PA      | $3468318.60   | 0.89%             | 2053-11-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| COLOMBIA (REPUBLIC OF)                               | COLOMBIA (REPUBLIC OF)             | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     1757000 | PA      | $1717726.38   | 0.44%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | 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