# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001193125-25-298464
**Filing Date:** 2025-11
**Character Count:** 118839
**Document Hash:** e79c0e1d745c7d673dcbe9f63fee9852
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-298464.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001193125-25-298464

**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:** 251524039

**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 - Corporate Bond Fund (Series ID: S000019860)

| Class ID   | Class Name                                                | Ticker Symbol   |
|:---|:---|:---|
| C000055697 | Columbia Variable Portfolio - Corporate Bond Fund Class 3 |  |
| C000088791 | Columbia Variable Portfolio - Corporate Bond Fund Class 1 |  |
| C000088792 | Columbia Variable Portfolio - Corporate Bond Fund Class 2 |  |

## Nport-Ex

![](img5d9474901.jpg)

Columbia Variable Portfolio – Corporate Bond 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

Columbia Variable Portfolio – Corporate Bond 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;

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes 91.6%** | **Corporate Bonds & Notes 91.6%** | **Corporate Bonds & Notes 91.6%** | **Corporate Bonds & Notes 91.6%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Australia 0.5%** | **Australia 0.5%** | **Australia 0.5%** | **Australia 0.5%** |
| Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. |
| 05/19/2035 | &nbsp;&nbsp; 6.000% | 9885000 | &nbsp;&nbsp; 10317818 |
| **Bermuda 1.3%** | **Bermuda 1.3%** | **Bermuda 1.3%** | **Bermuda 1.3%** |
| Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  |
| 05/15/2038 | &nbsp;&nbsp; 5.150% | 13778000 | &nbsp;&nbsp; 13026014 |
| 05/15/2048 | &nbsp;&nbsp; 5.300% | 160000 | &nbsp;&nbsp; 144981 |
| Bacardi Ltd./Bacardi-Martini BV<sup>(a)</sup>  | Bacardi Ltd./Bacardi-Martini BV<sup>(a)</sup>  | Bacardi Ltd./Bacardi-Martini BV<sup>(a)</sup>  | Bacardi Ltd./Bacardi-Martini BV<sup>(a)</sup>  |
| 06/15/2033 | &nbsp;&nbsp; 5.400% | 12425000 | &nbsp;&nbsp; 12570267 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **25741262** |
| **Canada 3.1%** | **Canada 3.1%** | **Canada 3.1%** | **Canada 3.1%** |
| Canadian Natural Resources Ltd.<sup>(a)</sup>  | Canadian Natural Resources Ltd.<sup>(a)</sup>  | Canadian Natural Resources Ltd.<sup>(a)</sup>  | Canadian Natural Resources Ltd.<sup>(a)</sup>  |
| 12/15/2029 | &nbsp;&nbsp; 5.000% | 5510000 | &nbsp;&nbsp; 5634040 |
| Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. |
| 12/02/2031 | &nbsp;&nbsp; 2.450% | 12781000 | &nbsp;&nbsp; 11383215 |
| Cenovus Energy, Inc. | Cenovus Energy, Inc. | Cenovus Energy, Inc. | Cenovus Energy, Inc. |
| 02/15/2052 | &nbsp;&nbsp; 3.750% | 5075000 | &nbsp;&nbsp; 3604452 |
| Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. |
| 04/05/2027 | &nbsp;&nbsp; 5.250% | 5704000 | &nbsp;&nbsp; 5792970 |
| 04/05/2034 | &nbsp;&nbsp; 5.625% | 3265000 | &nbsp;&nbsp; 3409111 |
| Royal Bank of Canada<sup>(b)</sup>  | Royal Bank of Canada<sup>(b)</sup>  | Royal Bank of Canada<sup>(b)</sup>  | Royal Bank of Canada<sup>(b)</sup>  |
| 10/18/2030 | &nbsp;&nbsp; 4.650% | 60000 | &nbsp;&nbsp; 60720 |
| 02/04/2031 | &nbsp;&nbsp; 5.153% | 3302000 | &nbsp;&nbsp; 3401963 |
| 08/06/2031 | &nbsp;&nbsp; 4.696% | 27388000 | &nbsp;&nbsp; 27747781 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **61034252** |
| **China 0.8%** | **China 0.8%** | **China 0.8%** | **China 0.8%** |
| NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. |
| 05/01/2030 | &nbsp;&nbsp; 3.400% | 30000 | &nbsp;&nbsp; 28763 |
| 05/11/2031 | &nbsp;&nbsp; 2.500% | 16825000 | &nbsp;&nbsp; 15107419 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15136182** |
| **France 0.3%** | **France 0.3%** | **France 0.3%** | **France 0.3%** |
| TotalEnergies Capital SA | TotalEnergies Capital SA | TotalEnergies Capital SA | TotalEnergies Capital SA |
| 09/10/2064 | &nbsp;&nbsp; 5.425% | 6395000 | &nbsp;&nbsp; 6158251 |
| **Netherlands 0.2%** | **Netherlands 0.2%** | **Netherlands 0.2%** | **Netherlands 0.2%** |
| Siemens Funding BV<sup>(a)</sup>  | Siemens Funding BV<sup>(a)</sup>  | Siemens Funding BV<sup>(a)</sup>  | Siemens Funding BV<sup>(a)</sup>  |
| 05/28/2035 | &nbsp;&nbsp; 5.200% | 3004000 | &nbsp;&nbsp; 3115379 |
| **United Kingdom 2.7%** | **United Kingdom 2.7%** | **United Kingdom 2.7%** | **United Kingdom 2.7%** |
| BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  |
| 03/26/2029 | &nbsp;&nbsp; 5.125% | 25600000 | &nbsp;&nbsp; 26364759 |
| 02/15/2031 | &nbsp;&nbsp; 1.900% | 13250000 | &nbsp;&nbsp; 11655034 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  |
| 05/13/2031 | &nbsp;&nbsp; 5.240% | 200000 | &nbsp;&nbsp; 205717 |
| 05/13/2036 | &nbsp;&nbsp; 5.790% | 12622000 | &nbsp;&nbsp; 13303166 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **51528676** |
| **United States 82.7%** | **United States 82.7%** | **United States 82.7%** | **United States 82.7%** |
| AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
| 03/15/2029 | &nbsp;&nbsp; 4.800% | 285000 | &nbsp;&nbsp; 291383 |
| 11/21/2029 | &nbsp;&nbsp; 3.200% | 22333000 | &nbsp;&nbsp; 21541616 |
| AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. |
| 06/01/2033 | &nbsp;&nbsp; 5.400% | 14620000 | &nbsp;&nbsp; 15031091 |
| 05/15/2034 | &nbsp;&nbsp; 5.700% | 854000 | &nbsp;&nbsp; 888834 |
| 01/15/2050 | &nbsp;&nbsp; 3.450% | 8593000 | &nbsp;&nbsp; 5972718 |
| Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. |
| 05/15/2065 | &nbsp;&nbsp; 5.300% | 3313000 | &nbsp;&nbsp; 3292478 |
| Amazon.com, Inc. | Amazon.com, Inc. | Amazon.com, Inc. | Amazon.com, Inc. |
| 05/12/2051 | &nbsp;&nbsp; 3.100% | 5130000 | &nbsp;&nbsp; 3561633 |
| American Transmission Systems, Inc.<sup>(a)</sup>  | American Transmission Systems, Inc.<sup>(a)</sup>  | American Transmission Systems, Inc.<sup>(a)</sup>  | American Transmission Systems, Inc.<sup>(a)</sup>  |
| 01/15/2032 | &nbsp;&nbsp; 2.650% | 14380000 | &nbsp;&nbsp; 12893420 |
| Amgen, Inc. | Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
| 03/02/2063 | &nbsp;&nbsp; 5.750% | 17001000 | &nbsp;&nbsp; 16961444 |
| APA Corp. | APA Corp. | APA Corp. | APA Corp. |
| 02/15/2055 | &nbsp;&nbsp; 6.750% | 6514000 | &nbsp;&nbsp; 6569224 |
| Apple, Inc. | Apple, Inc. | Apple, Inc. | Apple, Inc. |
| 02/08/2051 | &nbsp;&nbsp; 2.650% | 7440000 | &nbsp;&nbsp; 4724026 |
| AT&T, Inc. | AT&T, Inc. | AT&T, Inc. | AT&T, Inc. |
| 12/01/2033 | &nbsp;&nbsp; 2.550% | 8170000 | &nbsp;&nbsp; 6959477 |
| 05/15/2035 | &nbsp;&nbsp; 4.500% | 845000 | &nbsp;&nbsp; 815317 |
| 08/15/2035 | &nbsp;&nbsp; 5.375% | 14775000 | &nbsp;&nbsp; 15206779 |
| 11/01/2035 | &nbsp;&nbsp; 4.900% | 9003000 | &nbsp;&nbsp; 8932838 |
| Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  |
| 07/21/2032 | &nbsp;&nbsp; 2.299% | 47835000 | &nbsp;&nbsp; 42424208 |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 09/21/2036 | &nbsp;&nbsp; 2.482% | 25818000 | &nbsp;&nbsp; 22425155 |
| Becton Dickinson & Co. | Becton Dickinson & Co. | Becton Dickinson & Co. | Becton Dickinson & Co. |
| 02/08/2029 | &nbsp;&nbsp; 4.874% | 12970000 | &nbsp;&nbsp; 13228701 |
| Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) |
| 08/01/2059 | &nbsp;&nbsp; 3.950% | 109000 | &nbsp;&nbsp; 78264 |
| 05/01/2060 | &nbsp;&nbsp; 5.930% | 16205000 | &nbsp;&nbsp; 16225447 |
| BP Capital Markets America, Inc. | BP Capital Markets America, Inc. | BP Capital Markets America, Inc. | BP Capital Markets America, Inc. |
| 11/17/2027 | &nbsp;&nbsp; 5.017% | 8660000 | &nbsp;&nbsp; 8836177 |
| 03/17/2052 | &nbsp;&nbsp; 3.001% | 11215000 | &nbsp;&nbsp; 7301030 |
| Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. |
| 02/15/2030 | &nbsp;&nbsp; 4.350% | 15582000 | &nbsp;&nbsp; 15661498 |
| 10/15/2030 | &nbsp;&nbsp; 4.200% | 4135000 | &nbsp;&nbsp; 4127410 |

---

Columbia Variable Portfolio – Corporate Bond Fund \| 2025

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Corporate Bond Fund, September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  |
| 11/15/2036 | &nbsp;&nbsp; 3.187% | 16982000 | &nbsp;&nbsp; 14496840 |
| Burlington Northern Santa Fe LLC | Burlington Northern Santa Fe LLC | Burlington Northern Santa Fe LLC | Burlington Northern Santa Fe LLC |
| 03/15/2056 | &nbsp;&nbsp; 5.800% | 4175000 | &nbsp;&nbsp; 4369661 |
| Campbell Soup Co. | Campbell Soup Co. | Campbell Soup Co. | Campbell Soup Co. |
| 03/23/2035 | &nbsp;&nbsp; 4.750% | 17990000 | &nbsp;&nbsp; 17436029 |
| Carrier Global Corp. | Carrier Global Corp. | Carrier Global Corp. | Carrier Global Corp. |
| 02/15/2030 | &nbsp;&nbsp; 2.722% | 25710000 | &nbsp;&nbsp; 24094642 |
| Caterpillar, Inc. | Caterpillar, Inc. | Caterpillar, Inc. | Caterpillar, Inc. |
| 05/15/2035 | &nbsp;&nbsp; 5.200% | 13649000 | &nbsp;&nbsp; 14125281 |
| Centene Corp. | Centene Corp. | Centene Corp. | Centene Corp. |
| 10/15/2030 | &nbsp;&nbsp; 3.000% | 16015000 | &nbsp;&nbsp; 14310919 |
| Charter Communications Operating LLC | Charter Communications Operating LLC | Charter Communications Operating LLC | Charter Communications Operating LLC |
| 06/30/2062 | &nbsp;&nbsp; 3.950% | 725000 | &nbsp;&nbsp; 458396 |
| Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital |
| 05/01/2047 | &nbsp;&nbsp; 5.375% | 16940000 | &nbsp;&nbsp; 14629519 |
| Cigna Corp. | Cigna Corp. | Cigna Corp. | Cigna Corp. |
| 03/15/2050 | &nbsp;&nbsp; 3.400% | 3621000 | &nbsp;&nbsp; 2543054 |
| Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  |
| 09/11/2031 | &nbsp;&nbsp; 4.503% | 64204000 | &nbsp;&nbsp; 64232784 |
| 01/25/2033 | &nbsp;&nbsp; 3.057% | 1862000 | &nbsp;&nbsp; 1696211 |
| 09/11/2036 | &nbsp;&nbsp; 5.174% | 8000 | &nbsp;&nbsp; 8080 |
| CMS Energy Corp. | CMS Energy Corp. | CMS Energy Corp. | CMS Energy Corp. |
| 11/15/2025 | &nbsp;&nbsp; 3.600% | 682000 | &nbsp;&nbsp; 681113 |
| Comcast Corp. | Comcast Corp. | Comcast Corp. | Comcast Corp. |
| 11/01/2056 | &nbsp;&nbsp; 2.937% | 25850000 | &nbsp;&nbsp; 15327788 |
| Consolidated Edison Co. of New York, Inc. | Consolidated Edison Co. of New York, Inc. | Consolidated Edison Co. of New York, Inc. | Consolidated Edison Co. of New York, Inc. |
| 03/15/2055 | &nbsp;&nbsp; 5.500% | 640000 | &nbsp;&nbsp; 633910 |
| Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
| 05/01/2033 | &nbsp;&nbsp; 4.900% | 6479000 | &nbsp;&nbsp; 6539086 |
| Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  |
| 06/06/2030 | &nbsp;&nbsp; 4.850% | 9148000 | &nbsp;&nbsp; 9315400 |
| Corebridge Global Funding<sup>(a),(c)</sup>  | Corebridge Global Funding<sup>(a),(c)</sup>  | Corebridge Global Funding<sup>(a),(c)</sup>  | Corebridge Global Funding<sup>(a),(c)</sup>  |
| 10/02/2030 | &nbsp;&nbsp; 4.450% | 4579000 | &nbsp;&nbsp; 4575154 |
| CSX Corp. | CSX Corp. | CSX Corp. | CSX Corp. |
| 11/01/2026 | &nbsp;&nbsp; 2.600% | 10697000 | &nbsp;&nbsp; 10533701 |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| 03/25/2038 | &nbsp;&nbsp; 4.780% | 18721000 | &nbsp;&nbsp; 17552998 |
| Diamondback Energy, Inc. | Diamondback Energy, Inc. | Diamondback Energy, Inc. | Diamondback Energy, Inc. |
| 04/18/2064 | &nbsp;&nbsp; 5.900% | 4660000 | &nbsp;&nbsp; 4488275 |
| Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. |
| 03/15/2035 | &nbsp;&nbsp; 5.450% | 18394000 | &nbsp;&nbsp; 18853220 |
| DTE Electric Co. | DTE Electric Co. | DTE Electric Co. | DTE Electric Co. |
| 05/15/2035 | &nbsp;&nbsp; 5.250% | 6580000 | &nbsp;&nbsp; 6776545 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| DTE Energy Co. | DTE Energy Co. | DTE Energy Co. | DTE Energy Co. |
| 10/01/2026 | &nbsp;&nbsp; 2.850% | 490000 | &nbsp;&nbsp; 483882 |
| 07/01/2027 | &nbsp;&nbsp; 4.950% | 150000 | &nbsp;&nbsp; 151924 |
| 06/15/2029 | &nbsp;&nbsp; 3.400% | 3645000 | &nbsp;&nbsp; 3525754 |
| Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. |
| 09/01/2046 | &nbsp;&nbsp; 3.750% | 16765000 | &nbsp;&nbsp; 12865140 |
| Duke Energy Indiana LLC | Duke Energy Indiana LLC | Duke Energy Indiana LLC | Duke Energy Indiana LLC |
| 04/01/2050 | &nbsp;&nbsp; 2.750% | 3000000 | &nbsp;&nbsp; 1903295 |
| 04/01/2053 | &nbsp;&nbsp; 5.400% | 4495000 | &nbsp;&nbsp; 4389679 |
| Edison International | Edison International | Edison International | Edison International |
| 11/15/2028 | &nbsp;&nbsp; 5.250% | 10789000 | &nbsp;&nbsp; 10872828 |
| Energy Transfer LP | Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
| 09/01/2054 | &nbsp;&nbsp; 6.050% | 13010000 | &nbsp;&nbsp; 12806825 |
| Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC | Entergy Louisiana LLC |
| 03/15/2055 | &nbsp;&nbsp; 5.800% | 3480000 | &nbsp;&nbsp; 3569666 |
| ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  |
| 11/01/2025 | &nbsp;&nbsp; 3.800% | 13000 | &nbsp;&nbsp; 12991 |
| 05/01/2028 | &nbsp;&nbsp; 4.600% | 21269000 | &nbsp;&nbsp; 21532460 |
| Eversource Energy | Eversource Energy | Eversource Energy | Eversource Energy |
| 08/15/2030 | &nbsp;&nbsp; 1.650% | 6305000 | &nbsp;&nbsp; 5536738 |
| 07/15/2034 | &nbsp;&nbsp; 5.950% | 10446000 | &nbsp;&nbsp; 11087897 |
| Exelon Corp. | Exelon Corp. | Exelon Corp. | Exelon Corp. |
| 03/15/2052 | &nbsp;&nbsp; 4.100% | 10729000 | &nbsp;&nbsp; 8381582 |
| 03/15/2053 | &nbsp;&nbsp; 5.600% | 4520000 | &nbsp;&nbsp; 4425283 |
| FirstEnergy Corp. | FirstEnergy Corp. | FirstEnergy Corp. | FirstEnergy Corp. |
| 03/01/2050 | &nbsp;&nbsp; 3.400% | 8128000 | &nbsp;&nbsp; 5663808 |
| FirstEnergy Transmission LLC | FirstEnergy Transmission LLC | FirstEnergy Transmission LLC | FirstEnergy Transmission LLC |
| 01/15/2035 | &nbsp;&nbsp; 5.000% | 4090000 | &nbsp;&nbsp; 4086599 |
| Florida Power & Light Co. | Florida Power & Light Co. | Florida Power & Light Co. | Florida Power & Light Co. |
| 03/15/2055 | &nbsp;&nbsp; 5.700% | 4505000 | &nbsp;&nbsp; 4674137 |
| Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  |
| 01/25/2034 | &nbsp;&nbsp; 5.875% | 8565000 | &nbsp;&nbsp; 8927167 |
| GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. |
| 06/15/2035 | &nbsp;&nbsp; 5.500% | 3997000 | &nbsp;&nbsp; 4142153 |
| General Electric Co. | General Electric Co. | General Electric Co. | General Electric Co. |
| 07/29/2030 | &nbsp;&nbsp; 4.300% | 4769000 | &nbsp;&nbsp; 4797898 |
| General Mills, Inc. | General Mills, Inc. | General Mills, Inc. | General Mills, Inc. |
| 01/30/2027 | &nbsp;&nbsp; 4.700% | 5449000 | &nbsp;&nbsp; 5491412 |
| Gilead Sciences, Inc. | Gilead Sciences, Inc. | Gilead Sciences, Inc. | Gilead Sciences, Inc. |
| 03/01/2026 | &nbsp;&nbsp; 3.650% | 660000 | &nbsp;&nbsp; 659049 |
| Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  |
| 04/23/2031 | &nbsp;&nbsp; 5.218% | 15046000 | &nbsp;&nbsp; 15558570 |
| 10/21/2032 | &nbsp;&nbsp; 2.650% | 10555000 | &nbsp;&nbsp; 9492650 |
| HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. |
| 09/01/2030 | &nbsp;&nbsp; 3.500% | 10783000 | &nbsp;&nbsp; 10298884 |
| 03/01/2035 | &nbsp;&nbsp; 5.750% | 13463000 | &nbsp;&nbsp; 14077776 |
| Intel Corp. | Intel Corp. | Intel Corp. | Intel Corp. |
| 08/12/2051 | &nbsp;&nbsp; 3.050% | 9720000 | &nbsp;&nbsp; 6161475 |

---

Columbia Variable Portfolio – Corporate Bond Fund \| 2025

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Corporate Bond Fund, September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| International Business Machines Corp. | International Business Machines Corp. | International Business Machines Corp. | International Business Machines Corp. |
| 05/15/2026 | &nbsp;&nbsp; 3.300% | 10850000 | &nbsp;&nbsp; 10795555 |
| 05/15/2030 | &nbsp;&nbsp; 1.950% | 20796000 | &nbsp;&nbsp; 18831288 |
| 02/10/2035 | &nbsp;&nbsp; 5.200% | 348000 | &nbsp;&nbsp; 357351 |
| JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  |
| 01/31/2031 | &nbsp;&nbsp; 5.875% | 2249000 | &nbsp;&nbsp; 2285959 |
| 07/31/2032 | &nbsp;&nbsp; 6.125% | 3726000 | &nbsp;&nbsp; 3817819 |
| JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  |
| 07/22/2030 | &nbsp;&nbsp; 4.995% | 23848000 | &nbsp;&nbsp; 24461348 |
| 10/22/2030 | &nbsp;&nbsp; 4.603% | 4000 | &nbsp;&nbsp; 4045 |
| 01/24/2031 | &nbsp;&nbsp; 5.140% | 39000 | &nbsp;&nbsp; 40275 |
| 11/08/2032 | &nbsp;&nbsp; 2.545% | 11673000 | &nbsp;&nbsp; 10472899 |
| 01/24/2036 | &nbsp;&nbsp; 5.502% | 25395000 | &nbsp;&nbsp; 26574225 |
| Kenvue, Inc. | Kenvue, Inc. | Kenvue, Inc. | Kenvue, Inc. |
| 05/22/2032 | &nbsp;&nbsp; 4.850% | 6466000 | &nbsp;&nbsp; 6557092 |
| Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP |
| 03/01/2043 | &nbsp;&nbsp; 5.000% | 4445000 | &nbsp;&nbsp; 4074075 |
| 09/01/2044 | &nbsp;&nbsp; 5.400% | 8260000 | &nbsp;&nbsp; 7880571 |
| Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
| 06/01/2026 | &nbsp;&nbsp; 3.000% | 18950000 | &nbsp;&nbsp; 18792605 |
| 06/01/2046 | &nbsp;&nbsp; 4.375% | 11200000 | &nbsp;&nbsp; 9318006 |
| Kroger Co. (The) | Kroger Co. (The) | Kroger Co. (The) | Kroger Co. (The) |
| 09/15/2064 | &nbsp;&nbsp; 5.650% | 7655000 | &nbsp;&nbsp; 7477895 |
| L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. |
| 01/15/2027 | &nbsp;&nbsp; 5.400% | 39480000 | &nbsp;&nbsp; 40125987 |
| 07/31/2033 | &nbsp;&nbsp; 5.400% | 3875000 | &nbsp;&nbsp; 4036731 |
| Lincoln Financial Global Funding<sup>(a)</sup>  | Lincoln Financial Global Funding<sup>(a)</sup>  | Lincoln Financial Global Funding<sup>(a)</sup>  | Lincoln Financial Global Funding<sup>(a)</sup>  |
| 01/13/2030 | &nbsp;&nbsp; 5.300% | 617000 | &nbsp;&nbsp; 638421 |
| Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. |
| 08/15/2030 | &nbsp;&nbsp; 4.400% | 15890000 | &nbsp;&nbsp; 16026669 |
| 11/15/2054 | &nbsp;&nbsp; 5.700% | 7015000 | &nbsp;&nbsp; 7234784 |
| Lowe's Companies, Inc. | Lowe's Companies, Inc. | Lowe's Companies, Inc. | Lowe's Companies, Inc. |
| 04/01/2052 | &nbsp;&nbsp; 4.250% | 15720000 | &nbsp;&nbsp; 12685875 |
| 04/01/2062 | &nbsp;&nbsp; 4.450% | 70000 | &nbsp;&nbsp; 55853 |
| LYB International Finance III LLC | LYB International Finance III LLC | LYB International Finance III LLC | LYB International Finance III LLC |
| 04/01/2051 | &nbsp;&nbsp; 3.625% | 6400000 | &nbsp;&nbsp; 4280252 |
| Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  |
| 04/20/2028 | &nbsp;&nbsp; 4.550% | 17685000 | &nbsp;&nbsp; 17906208 |
| 03/01/2030 | &nbsp;&nbsp; 4.800% | 3130000 | &nbsp;&nbsp; 3189275 |
| Merck & Co, Inc. | Merck & Co, Inc. | Merck & Co, Inc. | Merck & Co, Inc. |
| 09/15/2035 | &nbsp;&nbsp; 4.950% | 24480000 | &nbsp;&nbsp; 24765566 |
| Met Tower Global Funding<sup>(a)</sup>  | Met Tower Global Funding<sup>(a)</sup>  | Met Tower Global Funding<sup>(a)</sup>  | Met Tower Global Funding<sup>(a)</sup>  |
| 09/16/2030 | &nbsp;&nbsp; 4.200% | 7067000 | &nbsp;&nbsp; 7022480 |
| Mondelez International, Inc. | Mondelez International, Inc. | Mondelez International, Inc. | Mondelez International, Inc. |
| 03/17/2027 | &nbsp;&nbsp; 2.625% | 315000 | &nbsp;&nbsp; 308601 |
| Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  |
| 10/18/2030 | &nbsp;&nbsp; 4.654% | 43000 | &nbsp;&nbsp; 43468 |
| 04/17/2036 | &nbsp;&nbsp; 5.664% | 16205000 | &nbsp;&nbsp; 17099000 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 09/16/2036 | &nbsp;&nbsp; 2.484% | 14478000 | &nbsp;&nbsp; 12582551 |
| Morgan Stanley Private Bank NA<sup>(b)</sup>  | Morgan Stanley Private Bank NA<sup>(b)</sup>  | Morgan Stanley Private Bank NA<sup>(b)</sup>  | Morgan Stanley Private Bank NA<sup>(b)</sup>  |
| 07/18/2031 | &nbsp;&nbsp; 4.734% | 11807000 | &nbsp;&nbsp; 11986045 |
| MPLX LP | MPLX LP | MPLX LP | MPLX LP |
| 03/14/2052 | &nbsp;&nbsp; 4.950% | 6325000 | &nbsp;&nbsp; 5399850 |
| New York Life Global Funding<sup>(a)</sup>  | New York Life Global Funding<sup>(a)</sup>  | New York Life Global Funding<sup>(a)</sup>  | New York Life Global Funding<sup>(a)</sup>  |
| 10/01/2027 | &nbsp;&nbsp; 3.900% | 1200000 | &nbsp;&nbsp; 1199543 |
| New York Life Insurance Co.<sup>(a)</sup>  | New York Life Insurance Co.<sup>(a)</sup>  | New York Life Insurance Co.<sup>(a)</sup>  | New York Life Insurance Co.<sup>(a)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 05/15/2050 | &nbsp;&nbsp; 3.750% | 8985000 | &nbsp;&nbsp; 6791061 |
| NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
| 09/01/2027 | &nbsp;&nbsp; 4.685% | 6984000 | &nbsp;&nbsp; 7061619 |
| 03/15/2035 | &nbsp;&nbsp; 5.450% | 7870000 | &nbsp;&nbsp; 8138179 |
| NiSource, Inc. | NiSource, Inc. | NiSource, Inc. | NiSource, Inc. |
| 07/15/2035 | &nbsp;&nbsp; 5.350% | 25717000 | &nbsp;&nbsp; 26269570 |
| Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. |
| 06/15/2026 | &nbsp;&nbsp; 2.900% | 7080000 | &nbsp;&nbsp; 7017056 |
| 08/01/2030 | &nbsp;&nbsp; 5.050% | 2830000 | &nbsp;&nbsp; 2932908 |
| 11/01/2047 | &nbsp;&nbsp; 3.942% | 10475000 | &nbsp;&nbsp; 8463141 |
| 08/25/2051 | &nbsp;&nbsp; 2.900% | 729000 | &nbsp;&nbsp; 473425 |
| Northrop Grumman Corp. | Northrop Grumman Corp. | Northrop Grumman Corp. | Northrop Grumman Corp. |
| 02/01/2027 | &nbsp;&nbsp; 3.200% | 2892000 | &nbsp;&nbsp; 2861305 |
| 02/01/2029 | &nbsp;&nbsp; 4.600% | 6108000 | &nbsp;&nbsp; 6204434 |
| 06/01/2054 | &nbsp;&nbsp; 5.200% | 10090000 | &nbsp;&nbsp; 9607750 |
| Northwestern Mutual Life Insurance Co. (The)<sup>(a)</sup>  | Northwestern Mutual Life Insurance Co. (The)<sup>(a)</sup>  | Northwestern Mutual Life Insurance Co. (The)<sup>(a)</sup>  | Northwestern Mutual Life Insurance Co. (The)<sup>(a)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 05/29/2055 | &nbsp;&nbsp; 6.170% | 4062000 | &nbsp;&nbsp; 4393128 |
| Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. |
| 08/01/2027 | &nbsp;&nbsp; 5.000% | 10015000 | &nbsp;&nbsp; 10127316 |
| 10/01/2054 | &nbsp;&nbsp; 6.050% | 12628000 | &nbsp;&nbsp; 12319426 |
| Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC | Oncor Electric Delivery Co. LLC |
| 06/15/2054 | &nbsp;&nbsp; 5.550% | 8035000 | &nbsp;&nbsp; 7999136 |
| Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. |
| 07/15/2046 | &nbsp;&nbsp; 4.000% | 16890000 | &nbsp;&nbsp; 13145602 |
| 02/06/2053 | &nbsp;&nbsp; 5.550% | 600000 | &nbsp;&nbsp; 566285 |
| 09/26/2065 | &nbsp;&nbsp; 6.100% | 3302000 | &nbsp;&nbsp; 3299710 |
| Pacific Gas and Electric Co. | Pacific Gas and Electric Co. | Pacific Gas and Electric Co. | Pacific Gas and Electric Co. |
| 07/01/2050 | &nbsp;&nbsp; 4.950% | 11730000 | &nbsp;&nbsp; 10105713 |
| Peachtree Corners Funding Trust II<sup>(a)</sup>  | Peachtree Corners Funding Trust II<sup>(a)</sup>  | Peachtree Corners Funding Trust II<sup>(a)</sup>  | Peachtree Corners Funding Trust II<sup>(a)</sup>  |
| 05/15/2035 | &nbsp;&nbsp; 6.012% | 5993000 | &nbsp;&nbsp; 6290650 |
| PepsiCo, Inc. | PepsiCo, Inc. | PepsiCo, Inc. | PepsiCo, Inc. |
| 07/23/2035 | &nbsp;&nbsp; 5.000% | 14045000 | &nbsp;&nbsp; 14291613 |
| Pfizer Investment Enterprises Pte., Ltd. | Pfizer Investment Enterprises Pte., Ltd. | Pfizer Investment Enterprises Pte., Ltd. | Pfizer Investment Enterprises Pte., Ltd. |
| 05/19/2033 | &nbsp;&nbsp; 4.750% | 25323000 | &nbsp;&nbsp; 25584983 |
| Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. |
| 06/15/2044 | &nbsp;&nbsp; 4.700% | 3760000 | &nbsp;&nbsp; 3195647 |

---

Columbia Variable Portfolio – Corporate Bond Fund \| 2025

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Corporate Bond Fund, September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| PNC Financial Services Group, Inc. (The)<sup>(b)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(b)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(b)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(b)</sup>  |
| 07/21/2036 | &nbsp;&nbsp; 5.373% | 5130000 | &nbsp;&nbsp; 5281752 |
| Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  |
| 11/27/2029 | &nbsp;&nbsp; 4.950% | 27855000 | &nbsp;&nbsp; 28500101 |
| Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. |
| 03/15/2027 | &nbsp;&nbsp; 3.500% | 12763000 | &nbsp;&nbsp; 12662653 |
| 03/15/2032 | &nbsp;&nbsp; 2.375% | 9387000 | &nbsp;&nbsp; 8297272 |
| Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  |
| 11/13/2030 | &nbsp;&nbsp; 5.489% | 22365000 | &nbsp;&nbsp; 23686029 |
| Sempra Energy | Sempra Energy | Sempra Energy | Sempra Energy |
| 06/15/2027 | &nbsp;&nbsp; 3.250% | 3925000 | &nbsp;&nbsp; 3857375 |
| Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. | Southern California Gas Co. |
| 09/01/2034 | &nbsp;&nbsp; 5.050% | 5955000 | &nbsp;&nbsp; 6055508 |
| Southern Co Gas Capital Corp. | Southern Co Gas Capital Corp. | Southern Co Gas Capital Corp. | Southern Co Gas Capital Corp. |
| 09/15/2035 | &nbsp;&nbsp; 5.100% | 6681000 | &nbsp;&nbsp; 6699971 |
| Teachers Insurance & Annuity Association of America<sup>(a)</sup>  | Teachers Insurance & Annuity Association of America<sup>(a)</sup>  | Teachers Insurance & Annuity Association of America<sup>(a)</sup>  | Teachers Insurance & Annuity Association of America<sup>(a)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 05/15/2050 | &nbsp;&nbsp; 3.300% | 11970000 | &nbsp;&nbsp; 8242103 |
| T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. |
| 02/15/2029 | &nbsp;&nbsp; 2.625% | 29250000 | &nbsp;&nbsp; 27766929 |
| 02/15/2031 | &nbsp;&nbsp; 2.550% | 13903000 | &nbsp;&nbsp; 12624083 |
| Union Pacific Corp. | Union Pacific Corp. | Union Pacific Corp. | Union Pacific Corp. |
| 02/05/2050 | &nbsp;&nbsp; 3.250% | 9091000 | &nbsp;&nbsp; 6404462 |
| United Parcel Service, Inc. | United Parcel Service, Inc. | United Parcel Service, Inc. | United Parcel Service, Inc. |
| 05/14/2065 | &nbsp;&nbsp; 6.050% | 8465000 | &nbsp;&nbsp; 8855657 |
| UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
| 01/15/2031 | &nbsp;&nbsp; 4.650% | 20978000 | &nbsp;&nbsp; 21259647 |
| 04/15/2054 | &nbsp;&nbsp; 5.375% | 14889000 | &nbsp;&nbsp; 14276260 |
| 07/15/2064 | &nbsp;&nbsp; 5.750% | 7000 | &nbsp;&nbsp; 6976 |
| US Bancorp<sup>(b)</sup>  | US Bancorp<sup>(b)</sup>  | US Bancorp<sup>(b)</sup>  | US Bancorp<sup>(b)</sup>  |
| 05/15/2031 | &nbsp;&nbsp; 5.083% | 17590000 | &nbsp;&nbsp; 18076631 |
| 06/12/2034 | &nbsp;&nbsp; 5.836% | 6272000 | &nbsp;&nbsp; 6680455 |
| Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
| 03/21/2031 | &nbsp;&nbsp; 2.550% | 56352000 | &nbsp;&nbsp; 51231745 |
| Voya Financial, Inc. | Voya Financial, Inc. | Voya Financial, Inc. | Voya Financial, Inc. |
| 06/15/2026 | &nbsp;&nbsp; 3.650% | 440000 | &nbsp;&nbsp; 438425 |
| Walmart, Inc. | Walmart, Inc. | Walmart, Inc. | Walmart, Inc. |
| 04/28/2035 | &nbsp;&nbsp; 4.900% | 12132000 | &nbsp;&nbsp; 12465879 |
| WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. |
| 10/15/2030 | &nbsp;&nbsp; 1.800% | 4655000 | &nbsp;&nbsp; 4117743 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  |
| 07/25/2034 | &nbsp;&nbsp; 5.557% | 125000 | &nbsp;&nbsp; 131296 |
| 09/15/2036 | &nbsp;&nbsp; 4.892% | 30610000 | &nbsp;&nbsp; 30540654 |
| Welltower OP LLC | Welltower OP LLC | Welltower OP LLC | Welltower OP LLC |
| 07/01/2035 | &nbsp;&nbsp; 5.125% | 5026000 | &nbsp;&nbsp; 5114291 |
| Western Gas Partners LP | Western Gas Partners LP | Western Gas Partners LP | Western Gas Partners LP |
| 03/01/2048 | &nbsp;&nbsp; 5.300% | 5720000 | &nbsp;&nbsp; 4988099 |
| Williams Companies, Inc. (The) | Williams Companies, Inc. (The) | Williams Companies, Inc. (The) | Williams Companies, Inc. (The) |
| 08/15/2028 | &nbsp;&nbsp; 5.300% | 2485000 | &nbsp;&nbsp; 2561767 |
| Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. |
| 11/15/2031 | &nbsp;&nbsp; 2.350% | 10690000 | &nbsp;&nbsp; 9411438 |
| 03/15/2034 | &nbsp;&nbsp; 5.500% | 11072000 | &nbsp;&nbsp; 11433958 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1604343279** |
| &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $1,746,114,341) | &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $1,746,114,341) | &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $1,746,114,341) | &nbsp;&nbsp; **1777375099** |
| **U.S. Treasury Obligations 5.6%** | **U.S. Treasury Obligations 5.6%** | **U.S. Treasury Obligations 5.6%** | **U.S. Treasury Obligations 5.6%** |
| **United States 5.6%** | **United States 5.6%** | **United States 5.6%** | **United States 5.6%** |
| U.S. Treasury | U.S. Treasury | U.S. Treasury | U.S. Treasury |
| 05/31/2026 | &nbsp;&nbsp; 4.875% | 500000 | &nbsp;&nbsp; 503320 |
| 04/30/2032 | &nbsp;&nbsp; 4.000% | 196000 | &nbsp;&nbsp; 197164 |
| 02/15/2045 | &nbsp;&nbsp; 4.750% | 160000 | &nbsp;&nbsp; 161025 |
| 05/15/2045 | &nbsp;&nbsp; 5.000% | 91165000 | &nbsp;&nbsp; 94697644 |
| 08/15/2045 | &nbsp;&nbsp; 4.875% | 12271000 | &nbsp;&nbsp; 12545180 |
| 02/15/2055 | &nbsp;&nbsp; 4.625% | 53000 | &nbsp;&nbsp; 52106 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **108156439** |
| &nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $105,734,620) | &nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $105,734,620) | &nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $105,734,620) | &nbsp;&nbsp; **108156439** |

---

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

---

| | | |
|:---|:---|:---|
| **Money Market Funds 2.0%** | **Money Market Funds 2.0%** | **Money Market Funds 2.0%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 4.265%<sup>(d),(e)</sup> <br>| &nbsp;&nbsp; 38112211 | &nbsp;&nbsp; 38100777 |
| &nbsp;&nbsp; Total Money Market Funds <br>(Cost $38,099,276) | &nbsp;&nbsp; Total Money Market Funds <br>(Cost $38,099,276) | &nbsp;&nbsp; **38100777** |
| **Total Investments in Securities** <br>**(Cost $1,889,948,237)** | **Total Investments in Securities** <br>**(Cost $1,889,948,237)** | &nbsp;&nbsp; **1923632315** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **16064993** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$1939697308** |

---

At September 30, 2025, securities and/or cash totaling $4,114,080 were pledged as collateral.

Columbia Variable Portfolio – Corporate Bond Fund \| 2025

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Corporate Bond Fund, September 30, 2025 (Unaudited)

**Investments in derivatives** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** |
| **Description** | **Number of** <br>**contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Expiration** <br>**date**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Trading** <br>**currency**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**amount**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**depreciation ($)**<br>|
| U.S. Long Bond | 450 | 12/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 52467188 | &nbsp;&nbsp;&nbsp;&nbsp; 1313966 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 10-Year Note | 413 | 12/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 46462500 | &nbsp;&nbsp;&nbsp;&nbsp; 134731 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 10-Year Note | 142 | 12/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 15975000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (112062)<br>|
| U.S. Treasury 2-Year Note | 1293 | 12/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 269459180 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (105870)<br>|
| U.S. Treasury Ultra Bond | 42 | 12/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 5042625 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6761)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1448697 | &nbsp;&nbsp;&nbsp;&nbsp; (224693)<br>|

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** |
| **Description** | **Number of** <br>**contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Expiration** <br>**date**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Trading** <br>**currency**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**amount**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**depreciation ($)**<br>|
| U.S. Treasury 5-Year Note | (1997) | 12/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (218063040)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (664291)<br>|
| U.S. Treasury Ultra 10-Year Note | (1149) | 12/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (132224766)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (850007)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1514298)<br>|

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Represents privately placed and other securities and instruments exempt from Securities
 and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only
 to qualified institutional buyers. At September 30, 2025, the total value of these securities amounted to $258,226,683, which represents 13.31% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents a variable rate security with a step coupon where the rate adjusts according
 to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the
 current rate as of September 30, 2025.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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% |
|  | 5196477 | &nbsp;&nbsp; 423407862 | &nbsp;&nbsp; (390505041)<br>| &nbsp;&nbsp; 1479 | &nbsp;&nbsp; 38100777 | &nbsp;&nbsp; 4027 | &nbsp;&nbsp; 726113 | &nbsp;&nbsp; 38112211 |

---

**Currency Legend** 

USD US Dollar

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

Columbia Variable Portfolio – Corporate Bond 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.

3QT7008_12_D01_(11/25)

------

## 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 - Corporate Bond Fund

- **b. EDGAR series identifier (if any):** S000019860

- **c. LEI of Series:** 6PJD8HWXFL0VNI53CH04

**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:** $1944816340.98

**Total Liabilities:** $5049334.89

**Net Assets:** $1939767006.09

**Delayed Delivery Securities:** $4574146.26

**Cash Not Reported:** $10.53

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 34.538800000000 | **1-Year:** 28206.490700000000 | **5-Year:** 323227.639300000000 | **10-Year:** 404280.809000000000 | **30-Year:** 498179.943200000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 718.373800000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000055697 | 0.00%                | 0.93%                | 1.44%                |
| Class ID C000088791 | 0.00%                | 0.92%                | 1.43%                |
| Class ID C000088792 | -0.13%               | 0.94%                | 1.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $675613.08               | $-2815986.32                               |
| Month 2  | $992747.09               | $11041675.64                               |
| Month 3  | $4779908.16              | $16629309.44                               |

**Designated Index Information**

- **Index Name:** BBG U.S. Corporate Investment Grade Index

- **Index Identifier:** LEH_CORP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| RTX CORP                                    | RAYTHEON TECHNOLOGIES CORPORATION  | CUSIP: 75513ECN9<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   9387000 | PA      | $8297272.06   | 0.43%             | 2032-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| ROCHE HOLDINGS INC                          | ROCHE HOLDINGS INC                 | CUSIP: 771196CG5<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | DBT              | CORP              | US        |  22365000 | PA      | $23686029.11  | 1.22%             | 2030-11-13      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                        | ROYAL BANK OF CANADA               | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   3302000 | PA      | $3401962.45   | 0.18%             | 2031-02-04      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                        | ROYAL BANK OF CANADA               | CUSIP: 78017DAM0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  27388000 | PA      | $27747780.78  | 1.43%             | 2031-08-06      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                        | ROYAL BANK OF CANADA               | CUSIP: 78017FZT3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     60000 | PA      | $60719.93     | 0.00%             | 2030-10-18      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                      | SEMPRA ENERGY                      | CUSIP: 816851BA6<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   3925000 | PA      | $3857375.24   | 0.20%             | 2027-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                          | SIEMENS FUNDING B.V.               | CUSIP: 82622RAE6<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |   3004000 | PA      | $3115378.87   | 0.16%             | 2035-05-28      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIFORNIA GAS COMPANY             | SOUTHERN CALIFORNIA GAS COMPANY    | CUSIP: 842434DB5<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |   5955000 | PA      | $6055508.48   | 0.31%             | 2034-09-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SOUTHERN COMPANY GAS CAPITAL CORPORATION    | SOUTHERN COMPANY GAS CAPITAL CORPO | CUSIP: 8426EPAK4<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |   6681000 | PA      | $6699971.50   | 0.35%             | 2035-09-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                            | T-MOBILE USA INC                   | CUSIP: 87264ABS3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |  29250000 | PA      | $27766929.13  | 1.43%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                            | T-MOBILE USA INC                   | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |  13903000 | PA      | $12624082.64  | 0.65%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| TEACHERS INS & ANN ASSOC OF AMER            | TEACHERS INSURANCE & ANNUITY       | CUSIP: 878091BG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11970000 | PA      | $8242103.48   | 0.42%             | 2050-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                    | TOTALENERGIES CAPITAL SA           | CUSIP: 89157XAF8<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |   6395000 | PA      | $6158251.03   | 0.32%             | 2064-09-10      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORPORATION                   | UNION PACIFIC CORPORATION          | CUSIP: 907818FK9<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   9091000 | PA      | $6404461.79   | 0.33%             | 2050-02-05      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE INC                   | UNITED PARCEL SERVICE INC          | CUSIP: 911312CL8<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |   8465000 | PA      | $8855656.78   | 0.46%             | 2065-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                  | US BANCORP                         | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   6272000 | PA      | $6680455.01   | 0.34%             | 2034-06-12      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                  | US BANCORP                         | CUSIP: 91159HJV3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |  17590000 | PA      | $18076630.76  | 0.93%             | 2031-05-15      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                      | TREASURY BOND                      | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     53000 | PA      | $52105.63     | 0.00%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                      | TREASURY BOND                      | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    160000 | PA      | $161025.00    | 0.01%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                      | TREASURY BOND                      | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  91165000 | PA      | $94697643.75  | 4.88%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                      | TREASURY BOND                      | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10756000 | PA      | $10996329.38  | 0.57%             | 2045-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                      | TREASURY NOTE                      | CUSIP: 91282CKS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $503320.31    | 0.03%             | 2026-05-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                      | TREASURY NOTE                      | CUSIP: 91282CNA5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    196000 | PA      | $197163.75    | 0.01%             | 2032-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                      | UNITEDHEALTH GROUP INC             | CUSIP: 91324PFC1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |  14889000 | PA      | $14276259.94  | 0.74%             | 2054-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                      | UNITEDHEALTH GROUP INC             | CUSIP: 91324PFM9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6976.22      | 0.00%             | 2064-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                      | UNITEDHEALTH GROUP INC             | CUSIP: 91324PFP2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |  20978000 | PA      | $21259646.72  | 1.10%             | 2031-01-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS INC                  | VERIZON COMMUNICATIONS INC         | CUSIP: 92343VGJ7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |  56352000 | PA      | $51231745.40  | 2.64%             | 2031-03-21      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| VOYA FINANCIAL INC                          | VOYA FINANCIAL INC                 | CUSIP: 929089AB6<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |    440000 | PA      | $438424.95    | 0.02%             | 2026-06-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                        | WEC ENERGY GROUP INC               | CUSIP: 92939UAE6<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |   4655000 | PA      | $4117743.02   | 0.21%             | 2030-10-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                 | WALMART INC                        | CUSIP: 931142FP3<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |  12132000 | PA      | $12465878.74  | 0.64%             | 2035-04-28      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | WELLS FARGO & COMPANY              | CUSIP: 95000U3F8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    125000 | PA      | $131296.02    | 0.01%             | 2034-07-25      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | WELLS FARGO & COMPANY              | CUSIP: 95000U4B6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  30610000 | PA      | $30540654.32  | 1.57%             | 2036-09-15      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                            | WELLTOWER OP LLC                   | CUSIP: 95041AAG3<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              | CORP              | US        |   5026000 | PA      | $5114291.32   | 0.26%             | 2035-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERATING LP              | WESTERN MIDSTREAM OPERATING LP     | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   5720000 | PA      | $4988099.41   | 0.26%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                      | WILLIAMS COMPANIES INC             | CUSIP: 969457CK4<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   2485000 | PA      | $2561766.71   | 0.13%             | 2028-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| WOODSIDE FIN LTD                            | WOODSIDE FINANCE LTD               | CUSIP: 980236AV5<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |   9885000 | PA      | $10317818.19  | 0.53%             | 2035-05-19      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                             | XCEL ENERGY INC                    | CUSIP: 98388MAC1<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |  10690000 | PA      | $9411438.35   | 0.49%             | 2031-11-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                             | XCEL ENERGY INC                    | CUSIP: 98389BBB5<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |   8020000 | PA      | $8282184.41   | 0.43%             | 2034-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan                                    | US 5YR NOTE DEC 25                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |     -2041 | NC      | $-683287.96   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan                                    | US 2YR NOTE DEC 25                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |      1293 | NC      | $-105869.89   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan                                    | US 10YR NOTE DEC 25                | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |       413 | NC      | $134730.92    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan                                    | US 10YR NOTE DEC 25                | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |       142 | NC      | $-112062.43   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ERAC USA FINANCE LLC                        | ERAC USA FINANCE LLC               | CUSIP: 26884TAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     13000 | PA      | $12990.77     | 0.00%             | 2025-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| ERAC USA FINANCE LLC                        | ERAC USA FINANCE LLC               | CUSIP: 26884TAV4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21269000 | PA      | $21532460.11  | 1.11%             | 2028-05-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| EDISON INTL                                 | EDISON INTERNATIONAL               | CUSIP: 281020AY3<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |  10789000 | PA      | $10872827.67  | 0.56%             | 2028-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                | ENBRIDGE INC                       | CUSIP: 29250NCA1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   5704000 | PA      | $5792970.30   | 0.30%             | 2027-04-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                | ENBRIDGE INC                       | CUSIP: 29250NCC7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   3265000 | PA      | $3409111.28   | 0.18%             | 2034-04-05      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | ENERGY TRANSFER LP                 | CUSIP: 29273VBB5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  13010000 | PA      | $12806825.29  | 0.66%             | 2054-09-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ENTERGY LOUISIANA LLC                       | ENTERGY LOUISIANA LLC              | CUSIP: 29364WBQ0<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |   3480000 | PA      | $3569666.01   | 0.18%             | 2055-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                           | EVERSOURCE ENERGY                  | CUSIP: 30040WAK4<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   6305000 | PA      | $5536738.40   | 0.29%             | 2030-08-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                           | EVERSOURCE ENERGY                  | CUSIP: 30040WAZ1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |  10446000 | PA      | $11087896.94  | 0.57%             | 2034-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EXELON CORPORATION                          | EXELON CORPORATION                 | CUSIP: 30161NBH3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |  10729000 | PA      | $8381581.81   | 0.43%             | 2052-03-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| EXELON CORPORATION                          | EXELON CORPORATION                 | CUSIP: 30161NBL4<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |   4520000 | PA      | $4425282.81   | 0.23%             | 2053-03-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION LLC                | FIRSTENERGY TRANSMISSION LLC       | CUSIP: 33767BAH2<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |   4090000 | PA      | $4086598.58   | 0.21%             | 2035-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                            | FIRSTENERGY CORPORATION            | CUSIP: 337932AM9<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   8128000 | PA      | $5663808.52   | 0.29%             | 2050-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                    | FLORIDA POWER & LIGHT CO           | CUSIP: 341081GY7<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   4505000 | PA      | $4674137.00   | 0.24%             | 2055-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                       | FOUNDRY JV HOLDCO LLC              | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   8565000 | PA      | $8927166.88   | 0.46%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECHNOLOGIES INC              | GE HEALTHCARE TECHNOLOGIES INC     | CUSIP: 36266GAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3997000 | PA      | $4142153.35   | 0.21%             | 2035-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                         | GENERAL ELECTRIC CO                | CUSIP: 369604BZ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   4769000 | PA      | $4797897.92   | 0.25%             | 2030-07-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC                           | GENERAL MILLS INC                  | CUSIP: 370334CX0<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |   5449000 | PA      | $5491411.97   | 0.28%             | 2027-01-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                         | GILEAD SCIENCES INC                | CUSIP: 375558BF9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    660000 | PA      | $659048.71    | 0.03%             | 2026-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC/THE                 | GOLDMAN SACHS GROUP INC/THE        | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  15046000 | PA      | $15558570.02  | 0.80%             | 2031-04-23      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC/THE                 | GOLDMAN SACHS GROUP INC            | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  10555000 | PA      | $9492650.14   | 0.49%             | 2032-10-21      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA INC                            | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |  10783000 | PA      | $10298883.73  | 0.53%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA INC                            | CUSIP: 404119DB2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |  13463000 | PA      | $14077776.26  | 0.73%             | 2035-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC HOLDINGS PLC                  | CUSIP: 404280EW5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $205717.09    | 0.01%             | 2031-05-13      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC HOLDINGS PLC                  | CUSIP: 404280EX3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  12622000 | PA      | $13303165.80  | 0.69%             | 2036-05-13      | Variable      | 5.79%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                  | INTEL CORP                         | CUSIP: 458140BW9<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   9720000 | PA      | $6161474.99   | 0.32%             | 2051-08-12      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORP        | IBM CORP                           | CUSIP: 459200JZ5<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |  10850000 | PA      | $10795554.84  | 0.56%             | 2026-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORP        | INTERNATIONAL BUSINESS MACHINES CO | CUSIP: 459200KJ9<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |  20796000 | PA      | $18831288.33  | 0.97%             | 2030-05-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORP        | INTERNATIONAL BUSINESS MACHINES CO | CUSIP: 459200LJ8<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    348000 | PA      | $357350.57    | 0.02%             | 2035-02-10      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDINGS INC               | JH NORTH AMERICA HOLDINGS INC      | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |   2249000 | PA      | $2285958.99   | 0.12%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDINGS INC               | JH NORTH AMERICA HOLDINGS INC      | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |   3726000 | PA      | $3817819.04   | 0.20%             | 2032-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMORGAN CHASE & CO                | CUSIP: 46647PCR5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  11673000 | PA      | $10472898.59  | 0.54%             | 2032-11-08      | Variable      | 2.54%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMORGAN CHASE & CO                | CUSIP: 46647PEJ1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  23848000 | PA      | $24461348.12  | 1.26%             | 2030-07-22      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NXP BV                                      | NXP BV/NXP FUNDING LLC/NXP USA     | CUSIP: 62954HBA5<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |  16825000 | PA      | $15107419.53  | 0.78%             | 2031-05-11      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE INS CO                        | NEW YORK LIFE INSURANCE COMPANY    | CUSIP: 64952GAT5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8985000 | PA      | $6791060.91   | 0.35%             | 2050-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FUNDING                | NEW YORK LIFE GLOBAL FUNDING       | CUSIP: 64952WFJ7<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1199543.44   | 0.06%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC         | NEXTERA ENERGY CAPITAL HOLDINGS IN | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   6984000 | PA      | $7061618.78   | 0.36%             | 2027-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC         | NEXTERA ENERGY CAPITAL HOLDINGS IN | CUSIP: 65339KDL1<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   7870000 | PA      | $8138178.91   | 0.42%             | 2035-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC.                               | NISOURCE INC                       | CUSIP: 65473PAX3<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |  25717000 | PA      | $26269570.39  | 1.35%             | 2035-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORPORATION                | NORFOLK SOUTHERN CORPORATION       | CUSIP: 655844BS6<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |   7080000 | PA      | $7017056.46   | 0.36%             | 2026-06-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORPORATION                | NORFOLK SOUTHERN CORPORATION       | CUSIP: 655844BX5<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |  10475000 | PA      | $8463140.97   | 0.44%             | 2047-11-01      | Fixed         | 3.94%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORPORATION                | NORFOLK SOUTHERN CORPORATION       | CUSIP: 655844CL0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    729000 | PA      | $473424.90    | 0.02%             | 2051-08-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORPORATION                | NORFOLK SOUTHERN CORPORATION       | CUSIP: 655844CR7<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |   2830000 | PA      | $2932908.28   | 0.15%             | 2030-08-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                               | AEP TEXAS INC                      | CUSIP: 00108WAK6<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |   8593000 | PA      | $5972718.49   | 0.31%             | 2050-01-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                               | AEP TEXAS INC                      | CUSIP: 00108WAR1<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |  14620000 | PA      | $15031090.85  | 0.77%             | 2033-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                               | AEP TEXAS INC                      | CUSIP: 00108WAT7<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    854000 | PA      | $888834.49    | 0.05%             | 2034-05-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOBAL FUNDING                   | COREBRIDGE GLOBAL FUNDING          | CUSIP: 00138CBF4<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   9148000 | PA      | $9315399.60   | 0.48%             | 2030-06-06      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOBAL FUNDING                   | COREBRIDGE GLOBAL FUNDING          | CUSIP: 00138CBJ6<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   4579000 | PA      | $4575153.87   | 0.24%             | 2030-10-02      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T INC                           | CUSIP: 00206RCP5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    845000 | PA      | $815316.92    | 0.04%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T INC                           | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   8170000 | PA      | $6959477.32   | 0.36%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T INC                           | CUSIP: 00206RMY5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |  14775000 | PA      | $15206779.26  | 0.78%             | 2035-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T INC                           | CUSIP: 00206RNC2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   9003000 | PA      | $8932838.47   | 0.46%             | 2035-11-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                  | ABBVIE INC                         | CUSIP: 00287YBX6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |  22333000 | PA      | $21541615.93  | 1.11%             | 2029-11-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                  | ABBVIE INC                         | CUSIP: 00287YDS5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    285000 | PA      | $291383.33    | 0.02%             | 2029-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                | ALPHABET INC                       | CUSIP: 02079KAN7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   3313000 | PA      | $3292477.65   | 0.17%             | 2065-05-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                       | NORTHROP GRUMMAN CORP              | CUSIP: 666807BK7<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |   2892000 | PA      | $2861304.65   | 0.15%             | 2027-02-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                       | NORTHROP GRUMMAN CORP              | CUSIP: 666807CK6<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |   6108000 | PA      | $6204433.73   | 0.32%             | 2029-02-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                       | NORTHROP GRUMMAN CORP              | CUSIP: 666807CM2<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |  10090000 | PA      | $9607750.01   | 0.50%             | 2054-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE INSURANCE CO       | NORTHWESTERN MUTUAL LIFE INSURANCE | CUSIP: 668138AF7<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |   4062000 | PA      | $4393128.49   | 0.23%             | 2055-05-29      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORPORATION            | OCCIDENTAL PETROLEUM CORPORATION   | CUSIP: 674599EH4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |  10015000 | PA      | $10127315.59  | 0.52%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORPORATION            | OCCIDENTAL PETROLEUM CORPORATION   | CUSIP: 674599EM3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |  12628000 | PA      | $12319426.03  | 0.64%             | 2054-10-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY COMPANY LLC         | ONCOR ELECTRIC DELIVERY COMPANY LL | CUSIP: 68233JCU6<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |   8035000 | PA      | $7999135.59   | 0.41%             | 2054-06-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ORACLE CORPORATION                          | ORACLE CORPORATION                 | CUSIP: 68389XBJ3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |  16890000 | PA      | $13145601.79  | 0.68%             | 2046-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORPORATION                          | ORACLE CORPORATION                 | CUSIP: 68389XCQ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    600000 | PA      | $566285.01    | 0.03%             | 2053-02-06      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                 | PEPSICO INC                        | CUSIP: 713448GK8<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |  14045000 | PA      | $14291612.60  | 0.74%             | 2035-07-23      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTERPRISES PTE LTD       | PFIZER INVESTMENT ENTERPRISES PTE  | CUSIP: 716973AE2<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |  25323000 | PA      | $25584983.06  | 1.32%             | 2033-05-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPELINE LP             | PLAINS ALL AMERICAN PIPELINE LP    | CUSIP: 72650RBE1<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |   3760000 | PA      | $3195646.69   | 0.16%             | 2044-06-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LIFE GLOBAL FUNDING II            | PRINCIPAL LIFE GLOBAL FUNDING II   | CUSIP: 74256LFB0<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |  27855000 | PA      | $28500101.22  | 1.47%             | 2029-11-27      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                    | RAYTHEON TECHNOLOGIES CORPORATION  | CUSIP: 75513ECH2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |  12763000 | PA      | $12662653.45  | 0.65%             | 2027-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY COMPANY            | CANADIAN PACIFIC RAILWAY LTD       | CUSIP: 13645RBF0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  12781000 | PA      | $11383215.38  | 0.59%             | 2031-12-02      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP                         | CARRIER GLOBAL CORP                | CUSIP: 14448CAQ7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |  25710000 | PA      | $24094641.75  | 1.24%             | 2030-02-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR INC                             | CATERPILLAR INC                    | CUSIP: 149123CL3<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |  13649000 | PA      | $14125280.81  | 0.73%             | 2035-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                | CENTENE CORPORATION                | CUSIP: 15135BAW1<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |  16015000 | PA      | $14310919.42  | 0.74%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CENOVUS ENERGY INC                          | CENOVUS ENERGY INC                 | CUSIP: 15135UAX7<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |   6370000 | PA      | $4524208.50   | 0.23%             | 2052-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING            | CHARTER COMM OPT/OPT CAP           | CUSIP: 161175BL7<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |  16940000 | PA      | $14629518.78  | 0.75%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING            | CHARTER COMM OPT/OPT CAP           | CUSIP: 161175CG7<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    725000 | PA      | $458395.73    | 0.02%             | 2062-06-30      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | CITIGROUP INC                      | CUSIP: 172967QF1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  64204000 | PA      | $64232783.89  | 3.31%             | 2031-09-11      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | CITIGROUP INC                      | CUSIP: 172967QH7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8079.81      | 0.00%             | 2036-09-11      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | CITIGROUP INC                      | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1862000 | PA      | $1696210.65   | 0.09%             | 2033-01-25      | Variable      | 3.06%                 | 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        |  38112211 | NS      | $38100777.11  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORPORATION                         | COMCAST CORPORATION                | CUSIP: 20030NDU2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |  25850000 | PA      | $15327787.94  | 0.79%             | 2056-11-01      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED EDISON COMPANY OF NEW YORK INC | CONSOLIDATED EDISON COMPANY OF NEW | CUSIP: 209111GN7<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |    640000 | PA      | $633909.65    | 0.03%             | 2055-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                    | CONSTELLATION BRANDS INC           | CUSIP: 21036PBP2<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   6479000 | PA      | $6539085.68   | 0.34%             | 2033-05-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY COMPANY                          | DTE ENERGY COMPANY                 | CUSIP: 233331AY3<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    490000 | PA      | $483881.77    | 0.02%             | 2026-10-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY COMPANY                          | DTE ENERGY COMPANY                 | CUSIP: 233331BC0<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |   3645000 | PA      | $3525753.52   | 0.18%             | 2029-06-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY COMPANY                          | DTE ENERGY COMPANY                 | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151923.84    | 0.01%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC COMPANY                        | DTE ELECTRIC COMPANY               | CUSIP: 23338VAY2<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |   6580000 | PA      | $6776544.92   | 0.35%             | 2035-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                      | DIAMONDBACK ENERGY INC             | CUSIP: 25278XBB4<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   4660000 | PA      | $4488275.42   | 0.23%             | 2064-04-18      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                         | DOMINION ENERGY INC                | CUSIP: 25746UDX4<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |  18394000 | PA      | $18853219.98  | 0.97%             | 2035-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                            | DUKE ENERGY CORP                   | CUSIP: 26441CAT2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |  16765000 | PA      | $12865140.15  | 0.66%             | 2046-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY INDIANA LLC                     | DUKE ENERGY INDIANA LLC            | CUSIP: 26443TAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $1903294.88   | 0.10%             | 2050-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY INDIANA LLC                     | DUKE ENERGY INDIANA LLC            | CUSIP: 26443TAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4495000 | PA      | $4389679.02   | 0.23%             | 2053-04-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                             | BAE SYSTEMS PLC                    | CUSIP: 05523RAF4<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |  13250000 | PA      | $11655033.91  | 0.60%             | 2031-02-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                             | BAE SYSTEMS PLC                    | CUSIP: 05523RAJ6<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |  25600000 | PA      | $26364759.16  | 1.36%             | 2029-03-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BACARDI LTD                                 | BACARDI LTD / MARTINI BV           | CUSIP: 05635JAB6<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |  12425000 | PA      | $12570267.29  | 0.65%             | 2033-06-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | BANK OF AMERICA CORP               | CUSIP: 06051GKA6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  47835000 | PA      | $42424208.13  | 2.19%             | 2032-07-21      | Variable      | 2.30%                 | No            |                  2 | On Loan: No      |
| ORACLE CORPORATION                          | ORACLE CORPORATION                 | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3302000 | PA      | $3299709.55   | 0.17%             | 2065-09-26      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC (THE)      | PNC FINANCIAL SERVICES GROUP INC ( | CUSIP: 693475CE3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   5130000 | PA      | $5281752.06   | 0.27%             | 2036-07-21      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS AND ELECTRIC COMPANY            | PACIFIC GAS & ELECTRIC COMPANY     | CUSIP: 694308JN8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |  11730000 | PA      | $10105713.19  | 0.52%             | 2050-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| PEACHTREE CORNERS FUNDING TRUST II          | PEACHTREE CORNERS FUNDING TRUST II | CUSIP: 70470BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5993000 | PA      | $6290650.51   | 0.32%             | 2035-05-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| JPMorgan                                    | US LONG BOND DEC 25                | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |       450 | NC      | $1313966.25   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan                                    | US ULTRA 10YR NOTE DEC 25          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |     -1278 | NC      | $-972548.59   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan                                    | US ULTRA T-BOND DEC 25             | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DIR              | CORP              | US        |        32 | NC      | $-7056.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                              | AMAZON.COM INC                     | CUSIP: 023135CB0<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   5130000 | PA      | $3561632.67   | 0.18%             | 2051-05-12      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| AMERICAN TRANSMISSION SYSTEMS INC           | AMERICAN TRANSMISSION SYSTEMS INC  | CUSIP: 030288AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14380000 | PA      | $12893419.53  | 0.66%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                   | AMGEN INC                          | CUSIP: 031162DU1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |  17001000 | PA      | $16961444.36  | 0.87%             | 2063-03-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APA CORP (US)                               | APA CORP (US)                      | CUSIP: 03743QAT5<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |   6514000 | PA      | $6569224.19   | 0.34%             | 2055-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                   | APPLE INC                          | CUSIP: 037833EF3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   7440000 | PA      | $4724026.35   | 0.24%             | 2051-02-08      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | BANK OF AMERICA CORP               | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  25818000 | PA      | $22425155.07  | 1.16%             | 2036-09-21      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| BACARDI LTD                                 | BACARDI LTD                        | CUSIP: 067316AG4<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |  13778000 | PA      | $13026013.56  | 0.67%             | 2038-05-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BACARDI LTD                                 | BACARDI LTD                        | CUSIP: 067316AH2<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |    160000 | PA      | $144981.43    | 0.01%             | 2048-05-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON AND COMPANY                | BECTON DICKINSON AND COMPANY       | CUSIP: 075887CR8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |  12970000 | PA      | $13228700.75  | 0.68%             | 2029-02-08      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                   | BOEING CO                          | CUSIP: 097023CR4<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    109000 | PA      | $78263.89     | 0.00%             | 2059-08-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                   | BOEING CO                          | CUSIP: 097023CX1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |  16205000 | PA      | $16225447.06  | 0.84%             | 2060-05-01      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS AMERICA INC              | BP CAPITAL MARKETS AMERICA INC     | CUSIP: 10373QBS8<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |  11215000 | PA      | $7301030.35   | 0.38%             | 2052-03-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS AMERICA INC              | BP CAPITAL MARKETS AMERICA INC     | CUSIP: 10373QBY5<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   8660000 | PA      | $8836177.11   | 0.46%             | 2027-11-17      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                | BROADCOM INC                       | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |  16982000 | PA      | $14496840.31  | 0.75%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                | BROADCOM INC                       | CUSIP: 11135FCB5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |  15582000 | PA      | $15661497.63  | 0.81%             | 2030-02-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                | BROADCOM INC                       | CUSIP: 11135FCW9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   4135000 | PA      | $4127409.78   | 0.21%             | 2030-10-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| BURLINGTON NORTHERN SANTA FE LLC            | BURLINGTON NORTHERN SANTA FE LLC   | CUSIP: 12189LBM2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4175000 | PA      | $4369660.95   | 0.23%             | 2056-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP                                 | CIGNA CORP                         | CUSIP: 125523CK4<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   3621000 | PA      | $2543053.75   | 0.13%             | 2050-03-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                             | CMS ENERGY CORPORATION             | CUSIP: 125896BP4<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    682000 | PA      | $681113.35    | 0.04%             | 2025-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| CSX CORP                                    | CSX CORPORATION                    | CUSIP: 126408HE6<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |  10697000 | PA      | $10533700.56  | 0.54%             | 2026-11-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                             | CVS HEALTH CORP                    | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |  18721000 | PA      | $17552997.99  | 0.90%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| CAMPBELLS CO                                | CAMPBELL SOUP COMPANY              | CUSIP: 134429BQ1<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |  17990000 | PA      | $17436028.82  | 0.90%             | 2035-03-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LTD              | CANADIAN NATURAL RESOURCES LTD     | CUSIP: 136385BB6<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |   5510000 | PA      | $5634039.60   | 0.29%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMORGAN CHASE & CO                | CUSIP: 46647PEQ5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4045.01      | 0.00%             | 2030-10-22      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMORGAN CHASE & CO                | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     39000 | PA      | $40274.84     | 0.00%             | 2031-01-24      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMORGAN CHASE & CO                | CUSIP: 46647PEW2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  25395000 | PA      | $26574224.86  | 1.37%             | 2036-01-24      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| KENVUE INC                                  | KENVUE INC                         | CUSIP: 49177JAS1<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |   6466000 | PA      | $6557092.04   | 0.34%             | 2032-05-22      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENERGY PARTNERS LP            | KINDER MORGAN ENERGY PARTNERS LP   | CUSIP: 494550BP0<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   4445000 | PA      | $4074074.62   | 0.21%             | 2043-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENERGY PARTNERS LP            | KINDER MORGAN ENERGY PARTNERS LP   | CUSIP: 494550BW5<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   8260000 | PA      | $7880571.34   | 0.41%             | 2044-09-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                        | KRAFT HEINZ FOODS CO               | CUSIP: 50077LAB2<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |  11200000 | PA      | $9318006.45   | 0.48%             | 2046-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                        | KRAFT HEINZ FOODS CO               | CUSIP: 50077LAD8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |  18950000 | PA      | $18792605.02  | 0.97%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                   | KROGER CO                          | CUSIP: 501044DX6<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   7655000 | PA      | $7477895.49   | 0.39%             | 2064-09-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC                   | L3HARRIS TECHNOLOGIES INC          | CUSIP: 502431AP4<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |  39480000 | PA      | $40125986.81  | 2.07%             | 2027-01-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC                   | L3HARRIS TECHNOLOGIES INC          | CUSIP: 502431AQ2<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   3875000 | PA      | $4036731.25   | 0.21%             | 2033-07-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LYB INTERNATIONAL FINANCE III LLC           | LYB INTERNATIONAL FINANCE III LLC  | CUSIP: 50249AAJ2<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |   6400000 | PA      | $4280251.58   | 0.22%             | 2051-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| LINCOLN FINANCIAL GLOBAL FUNDING            | LINCOLN FINANCIAL GLOBAL FUNDING   | CUSIP: 53359KAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    617000 | PA      | $638420.61    | 0.03%             | 2030-01-13      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORPORATION                 | LOCKHEED MARTIN CORPORATION        | CUSIP: 539830BX6<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |   7015000 | PA      | $7234784.21   | 0.37%             | 2054-11-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORPORATION                 | LOCKHEED MARTIN CORPORATION        | CUSIP: 539830CL1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |  15890000 | PA      | $16026668.71  | 0.83%             | 2030-08-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| LOWES COMPANIES INC                         | LOWES COMPANIES INC                | CUSIP: 548661EF0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     70000 | PA      | $55852.81     | 0.00%             | 2062-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| LOWES COMPANIES INC                         | LOWES COMPANIES INC                | CUSIP: 548661EJ2<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |  15720000 | PA      | $12685875.38  | 0.65%             | 2052-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                     | MPLX LP                            | CUSIP: 55336VBT6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   6325000 | PA      | $5399850.16   | 0.28%             | 2052-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MARS INC                                    | MARS INC                           | CUSIP: 571676AT2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  17685000 | PA      | $17906207.87  | 0.92%             | 2028-04-20      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MARS INC                                    | MARS INC                           | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   3130000 | PA      | $3189275.35   | 0.16%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                              | MERCK & CO INC                     | CUSIP: 58933YBS3<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |  24480000 | PA      | $24765565.64  | 1.28%             | 2035-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MET TOWER GLOBAL FUNDING                    | MET TOWER GLOBAL FUNDING           | CUSIP: 58989V2L7<br>LEI: 635400OFJCY9IOGBGY57 | Long             | DBT              | CORP              | US        |   7067000 | PA      | $7022479.61   | 0.36%             | 2030-09-16      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL INC                  | MONDELEZ INTERNATIONAL INC         | CUSIP: 609207BA2<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    315000 | PA      | $308601.12    | 0.02%             | 2027-03-17      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | MORGAN STANLEY                     | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  14478000 | PA      | $12582551.50  | 0.65%             | 2036-09-16      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | MORGAN STANLEY                     | CUSIP: 61747YFU4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     43000 | PA      | $43467.66     | 0.00%             | 2030-10-18      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | MORGAN STANLEY                     | CUSIP: 61747YGA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  16205000 | PA      | $17099000.16  | 0.88%             | 2036-04-17      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PRIVATE BANK NA              | MORGAN STANLEY PRIVATE BANK NA     | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |  11807000 | PA      | $11986044.56  | 0.62%             | 2031-07-18      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| NXP BV                                      | NXP BV/NXP FUNDING LLC/NXP USA INC | CUSIP: 62954HAY4<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |     30000 | PA      | $28762.85     | 0.00%             | 2030-05-01      | Fixed         | 3.40%                 | 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