# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001410368-26-055088
**Filing Date:** 2026-5
**Character Count:** 119866
**Document Hash:** cd0b012766f4c094634bdfb2232c0df4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-055088.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001410368-26-055088

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22127
- **FILM NUMBER:** 261033093

**BUSINESS ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 800-345-6611

**MAIL ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RiverSource Variable Series Trust
- **DATE OF NAME CHANGE:** 20070920

## Series and Classes Contracts Data

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

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

## Nport-Ex

![](img2c4e63b51.jpg)

Columbia Variable Portfolio – Emerging Markets Bond Fund

**First Quarter Report**

March 31, 2026 (Unaudited)

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

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

---

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

---

------

Portfolio of Investments

Columbia Variable Portfolio – Emerging Markets Bond Fund, March 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Bonds 0.1%** | **Convertible Bonds 0.1%** | **Convertible Bonds 0.1%** | **Convertible Bonds 0.1%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **China 0.1%** | **China 0.1%** | **China 0.1%** | **China 0.1%** |
| Country Garden Holdings Co., Ltd.<sup>(a)</sup>  | Country Garden Holdings Co., Ltd.<sup>(a)</sup>  | Country Garden Holdings Co., Ltd.<sup>(a)</sup>  | Country Garden Holdings Co., Ltd.<sup>(a)</sup>  |
| 12/31/2031 | &nbsp;&nbsp; 0.000% | 2657509 | &nbsp;&nbsp; 295603 |
| &nbsp;&nbsp; Total Convertible Bonds <br>(Cost $348,042) | &nbsp;&nbsp; Total Convertible Bonds <br>(Cost $348,042) | &nbsp;&nbsp; Total Convertible Bonds <br>(Cost $348,042) | &nbsp;&nbsp; **295603** |
| **Corporate Bonds & Notes 7.1%** | **Corporate Bonds & Notes 7.1%** | **Corporate Bonds & Notes 7.1%** | **Corporate Bonds & Notes 7.1%** |
| **Brazil 0.7%** | **Brazil 0.7%** | **Brazil 0.7%** | **Brazil 0.7%** |
| Braskem Netherlands Finance BV<sup>(b)</sup>  | Braskem Netherlands Finance BV<sup>(b)</sup>  | Braskem Netherlands Finance BV<sup>(b)</sup>  | Braskem Netherlands Finance BV<sup>(b)</sup>  |
| 01/31/2030 | &nbsp;&nbsp; 4.500% | 5091000 | &nbsp;&nbsp; 2377909 |
| Raizen Fuels Finance SA<sup>(b)</sup>  | Raizen Fuels Finance SA<sup>(b)</sup>  | Raizen Fuels Finance SA<sup>(b)</sup>  | Raizen Fuels Finance SA<sup>(b)</sup>  |
| 07/08/2032 | &nbsp;&nbsp; 6.250% | 726000 | &nbsp;&nbsp; 403605 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2781514** |
| **China 0.0%** | **China 0.0%** | **China 0.0%** | **China 0.0%** |
| Country Garden Holdings Co., Ltd.<sup>(c)</sup>  | Country Garden Holdings Co., Ltd.<sup>(c)</sup>  | Country Garden Holdings Co., Ltd.<sup>(c)</sup>  | Country Garden Holdings Co., Ltd.<sup>(c)</sup>  |
| 12/31/2032 | &nbsp;&nbsp; 5.000% | 1282744 | &nbsp;&nbsp; 174504 |
| **Malaysia 0.5%** | **Malaysia 0.5%** | **Malaysia 0.5%** | **Malaysia 0.5%** |
| GENM Capital Labuan Ltd.<sup>(b)</sup>  | GENM Capital Labuan Ltd.<sup>(b)</sup>  | GENM Capital Labuan Ltd.<sup>(b)</sup>  | GENM Capital Labuan Ltd.<sup>(b)</sup>  |
| 04/19/2031 | &nbsp;&nbsp; 3.882% | 2210000 | &nbsp;&nbsp; 1966458 |
| **Russian Federation 0.4%** | **Russian Federation 0.4%** | **Russian Federation 0.4%** | **Russian Federation 0.4%** |
| Phosagro OAO Via Phosagro Bond Funding DAC<sup>(b)</sup>  | Phosagro OAO Via Phosagro Bond Funding DAC<sup>(b)</sup>  | Phosagro OAO Via Phosagro Bond Funding DAC<sup>(b)</sup>  | Phosagro OAO Via Phosagro Bond Funding DAC<sup>(b)</sup>  |
| 09/16/2028 | &nbsp;&nbsp; 2.600% | 2128000 | &nbsp;&nbsp; 1469298 |
| **Saudi Arabia 2.2%** | **Saudi Arabia 2.2%** | **Saudi Arabia 2.2%** | **Saudi Arabia 2.2%** |
| EIG Pearl Holdings Sarl<sup>(b)</sup>  | EIG Pearl Holdings Sarl<sup>(b)</sup>  | EIG Pearl Holdings Sarl<sup>(b)</sup>  | EIG Pearl Holdings Sarl<sup>(b)</sup>  |
| 08/31/2036 | &nbsp;&nbsp; 3.545% | 2376294 | &nbsp;&nbsp; 2121208 |
| Greensaif Pipelines Bidco Sarl<sup>(b)</sup>  | Greensaif Pipelines Bidco Sarl<sup>(b)</sup>  | Greensaif Pipelines Bidco Sarl<sup>(b)</sup>  | Greensaif Pipelines Bidco Sarl<sup>(b)</sup>  |
| 02/23/2036 | &nbsp;&nbsp; 5.853% | 3371000 | &nbsp;&nbsp; 3381342 |
| 02/23/2038 | &nbsp;&nbsp; 6.129% | 1500000 | &nbsp;&nbsp; 1518656 |
| 08/23/2042 | &nbsp;&nbsp; 6.103% | 1455000 | &nbsp;&nbsp; 1446803 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8468009** |
| **South Korea 0.4%** | **South Korea 0.4%** | **South Korea 0.4%** | **South Korea 0.4%** |
| LG Chem Ltd.<sup>(b)</sup>  | LG Chem Ltd.<sup>(b)</sup>  | LG Chem Ltd.<sup>(b)</sup>  | LG Chem Ltd.<sup>(b)</sup>  |
| 07/07/2026 | &nbsp;&nbsp; 1.375% | 1536000 | &nbsp;&nbsp; 1522720 |
| **Tanzania 0.7%** | **Tanzania 0.7%** | **Tanzania 0.7%** | **Tanzania 0.7%** |
| AngloGold Ashanti Holdings PLC | AngloGold Ashanti Holdings PLC | AngloGold Ashanti Holdings PLC | AngloGold Ashanti Holdings PLC |
| 10/01/2030 | &nbsp;&nbsp; 3.750% | 735000 | &nbsp;&nbsp; 705467 |
| HTA Group Ltd.<sup>(b)</sup>  | HTA Group Ltd.<sup>(b)</sup>  | HTA Group Ltd.<sup>(b)</sup>  | HTA Group Ltd.<sup>(b)</sup>  |
| 06/04/2029 | &nbsp;&nbsp; 7.500% | 1759000 | &nbsp;&nbsp; 1785035 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2490502** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>|  | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Turkey 0.8%** | **Turkey 0.8%** | **Turkey 0.8%** | **Turkey 0.8%** | **Turkey 0.8%** |
| Sisecam UK PLC<sup>(b)</sup>  | Sisecam UK PLC<sup>(b)</sup>  | Sisecam UK PLC<sup>(b)</sup>  | Sisecam UK PLC<sup>(b)</sup>  | Sisecam UK PLC<sup>(b)</sup>  |
| 05/02/2032 | &nbsp;&nbsp; 8.625% |  | 3154000 | &nbsp;&nbsp; 3179517 |
| **United Arab Emirates 1.4%** | **United Arab Emirates 1.4%** | **United Arab Emirates 1.4%** | **United Arab Emirates 1.4%** | **United Arab Emirates 1.4%** |
| Galaxy Pipeline Assets Bidco Ltd.<sup>(b)</sup>  | Galaxy Pipeline Assets Bidco Ltd.<sup>(b)</sup>  | Galaxy Pipeline Assets Bidco Ltd.<sup>(b)</sup>  | Galaxy Pipeline Assets Bidco Ltd.<sup>(b)</sup>  | Galaxy Pipeline Assets Bidco Ltd.<sup>(b)</sup>  |
| 03/31/2036 | &nbsp;&nbsp; 2.625% |  | 2600000 | &nbsp;&nbsp; 2210531 |
| 09/30/2040 | &nbsp;&nbsp; 2.940% |  | 3728033 | &nbsp;&nbsp; 3015556 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **5226087** |
| &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $30,889,792) | &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $30,889,792) | &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $30,889,792) | &nbsp;&nbsp; Total Corporate Bonds & Notes <br>(Cost $30,889,792) | &nbsp;&nbsp; **27278609** |
| **Foreign Government Obligations**<sup>(d),(e)</sup> **87.5%** | **Foreign Government Obligations**<sup>(d),(e)</sup> **87.5%** | **Foreign Government Obligations**<sup>(d),(e)</sup> **87.5%** | **Foreign Government Obligations**<sup>(d),(e)</sup> **87.5%** | **Foreign Government Obligations**<sup>(d),(e)</sup> **87.5%** |
| **Angola 1.1%** | **Angola 1.1%** | **Angola 1.1%** | **Angola 1.1%** | **Angola 1.1%** |
| Angolan Government International Bond<sup>(b)</sup>  | Angolan Government International Bond<sup>(b)</sup>  | Angolan Government International Bond<sup>(b)</sup>  | Angolan Government International Bond<sup>(b)</sup>  | Angolan Government International Bond<sup>(b)</sup>  |
| 04/14/2032 | &nbsp;&nbsp; 8.750% |  | 846000 | &nbsp;&nbsp; 821740 |
| 10/15/2035 | &nbsp;&nbsp; 9.875% |  | 1004000 | &nbsp;&nbsp; 1005122 |
| 05/08/2048 | &nbsp;&nbsp; 9.375% |  | 2536000 | &nbsp;&nbsp; 2245530 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **4072392** |
| **Argentina 2.7%** | **Argentina 2.7%** | **Argentina 2.7%** | **Argentina 2.7%** | **Argentina 2.7%** |
| Argentine Republic Government International Bond<sup>(f)</sup>  | Argentine Republic Government International Bond<sup>(f)</sup>  | Argentine Republic Government International Bond<sup>(f)</sup>  | Argentine Republic Government International Bond<sup>(f)</sup>  | Argentine Republic Government International Bond<sup>(f)</sup>  |
| 07/09/2035 | &nbsp;&nbsp; 2.750% |  | 13765998 | &nbsp;&nbsp; 9946418 |
| 07/09/2046 | &nbsp;&nbsp; 3.750% |  | 670909 | &nbsp;&nbsp; 459461 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **10405879** |
| **Bahrain 2.2%** | **Bahrain 2.2%** | **Bahrain 2.2%** | **Bahrain 2.2%** | **Bahrain 2.2%** |
| Bahrain Government International Bond<sup>(b)</sup>  | Bahrain Government International Bond<sup>(b)</sup>  | Bahrain Government International Bond<sup>(b)</sup>  | Bahrain Government International Bond<sup>(b)</sup>  | Bahrain Government International Bond<sup>(b)</sup>  |
| 05/18/2034 | &nbsp;&nbsp; 5.625% |  | 2635000 | &nbsp;&nbsp; 2320312 |
| CBB International Sukuk Programme Co. WLL<sup>(b)</sup>  | CBB International Sukuk Programme Co. WLL<sup>(b)</sup>  | CBB International Sukuk Programme Co. WLL<sup>(b)</sup>  | CBB International Sukuk Programme Co. WLL<sup>(b)</sup>  | CBB International Sukuk Programme Co. WLL<sup>(b)</sup>  |
| 05/18/2029 | &nbsp;&nbsp; 3.875% |  | 3867000 | &nbsp;&nbsp; 3517784 |
| 09/03/2034 | &nbsp;&nbsp; 6.124% |  | 2816000 | &nbsp;&nbsp; 2677579 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **8515675** |
| **Brazil 1.6%** | **Brazil 1.6%** | **Brazil 1.6%** | **Brazil 1.6%** | **Brazil 1.6%** |
| Brazil Notas do Tesouro Nacional | Brazil Notas do Tesouro Nacional | Brazil Notas do Tesouro Nacional | Brazil Notas do Tesouro Nacional | Brazil Notas do Tesouro Nacional |
| 01/01/2031 | &nbsp;&nbsp; 10.000% | BRL | 5897000 | &nbsp;&nbsp; 1022992 |
| Brazilian Government International Bond | Brazilian Government International Bond | Brazilian Government International Bond | Brazilian Government International Bond | Brazilian Government International Bond |
| 01/22/2032 | &nbsp;&nbsp; 6.125% |  | 1770000 | &nbsp;&nbsp; 1811850 |
| 01/27/2045 | &nbsp;&nbsp; 5.000% |  | 698000 | &nbsp;&nbsp; 547514 |
| 05/13/2054 | &nbsp;&nbsp; 7.125% |  | 931000 | &nbsp;&nbsp; 913292 |
| 01/12/2056 | &nbsp;&nbsp; 7.250% |  | 2003000 | &nbsp;&nbsp; 1961869 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **6257517** |
| **Chile 5.1%** | **Chile 5.1%** | **Chile 5.1%** | **Chile 5.1%** | **Chile 5.1%** |
| Chile Government International Bond | Chile Government International Bond | Chile Government International Bond | Chile Government International Bond | Chile Government International Bond |
| 01/05/2036 | &nbsp;&nbsp; 4.950% |  | 8504772 | &nbsp;&nbsp; 8404305 |

---

Columbia Variable Portfolio – Emerging Markets Bond Fund \| 2026

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Emerging Markets Bond Fund, March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Corp Nacional del Cobre de Chile<sup>(b)</sup>  | Corp Nacional del Cobre de Chile<sup>(b)</sup>  | Corp Nacional del Cobre de Chile<sup>(b)</sup>  | Corp Nacional del Cobre de Chile<sup>(b)</sup>  |
| 01/30/2037 | &nbsp;&nbsp; 5.529% | 4030000 | &nbsp;&nbsp; 3946755 |
| 08/01/2047 | &nbsp;&nbsp; 4.500% | 5700000 | &nbsp;&nbsp; 4500578 |
| Corporación Nacional del Cobre de Chile<sup>(b)</sup>  | Corporación Nacional del Cobre de Chile<sup>(b)</sup>  | Corporación Nacional del Cobre de Chile<sup>(b)</sup>  | Corporación Nacional del Cobre de Chile<sup>(b)</sup>  |
| 01/26/2036 | &nbsp;&nbsp; 6.440% | 1991000 | &nbsp;&nbsp; 2091488 |
| Empresa Nacional del Petroleo<sup>(b)</sup>  | Empresa Nacional del Petroleo<sup>(b)</sup>  | Empresa Nacional del Petroleo<sup>(b)</sup>  | Empresa Nacional del Petroleo<sup>(b)</sup>  |
| 05/10/2033 | &nbsp;&nbsp; 6.150% | 881000 | &nbsp;&nbsp; 903090 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **19846216** |
| **Colombia 2.6%** | **Colombia 2.6%** | **Colombia 2.6%** | **Colombia 2.6%** |
| Colombia Government International Bond | Colombia Government International Bond | Colombia Government International Bond | Colombia Government International Bond |
| 04/25/2035 | &nbsp;&nbsp; 8.500% | 1158000 | &nbsp;&nbsp; 1250924 |
| 11/14/2035 | &nbsp;&nbsp; 8.000% | 2000000 | &nbsp;&nbsp; 2093368 |
| 11/07/2036 | &nbsp;&nbsp; 7.750% | 1757000 | &nbsp;&nbsp; 1797212 |
| 09/18/2037 | &nbsp;&nbsp; 7.375% | 3400000 | &nbsp;&nbsp; 3383174 |
| 02/26/2044 | &nbsp;&nbsp; 5.625% | 1721000 | &nbsp;&nbsp; 1356154 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9880832** |
| **Dominican Republic 3.5%** | **Dominican Republic 3.5%** | **Dominican Republic 3.5%** | **Dominican Republic 3.5%** |
| Dominican Republic International Bond<sup>(b)</sup>  | Dominican Republic International Bond<sup>(b)</sup>  | Dominican Republic International Bond<sup>(b)</sup>  | Dominican Republic International Bond<sup>(b)</sup>  |
| 01/25/2027 | &nbsp;&nbsp; 5.950% | 4035000 | &nbsp;&nbsp; 4055066 |
| 01/30/2030 | &nbsp;&nbsp; 4.500% | 3659000 | &nbsp;&nbsp; 3477314 |
| 09/23/2032 | &nbsp;&nbsp; 4.875% | 1487000 | &nbsp;&nbsp; 1369737 |
| 04/30/2044 | &nbsp;&nbsp; 7.450% | 2790000 | &nbsp;&nbsp; 2900791 |
| 01/27/2045 | &nbsp;&nbsp; 6.850% | 271000 | &nbsp;&nbsp; 263494 |
| 06/05/2049 | &nbsp;&nbsp; 6.400% | 1550000 | &nbsp;&nbsp; 1432535 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **13498937** |
| **Ecuador 1.5%** | **Ecuador 1.5%** | **Ecuador 1.5%** | **Ecuador 1.5%** |
| Ecuador Government International Bond<sup>(b)</sup>  | Ecuador Government International Bond<sup>(b)</sup>  | Ecuador Government International Bond<sup>(b)</sup>  | Ecuador Government International Bond<sup>(b)</sup>  |
| 01/29/2034 | &nbsp;&nbsp; 8.750% | 1810000 | &nbsp;&nbsp; 1772707 |
| 01/29/2039 | &nbsp;&nbsp; 9.250% | 1108000 | &nbsp;&nbsp; 1085144 |
| Ecuador Government International Bond<sup>(b),(f)</sup>  | Ecuador Government International Bond<sup>(b),(f)</sup>  | Ecuador Government International Bond<sup>(b),(f)</sup>  | Ecuador Government International Bond<sup>(b),(f)</sup>  |
| 07/31/2035 | &nbsp;&nbsp; 6.900% | 1304312 | &nbsp;&nbsp; 1148232 |
| 07/31/2040 | &nbsp;&nbsp; 5.000% | 2485221 | &nbsp;&nbsp; 1940921 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5947004** |
| **Egypt 1.4%** | **Egypt 1.4%** | **Egypt 1.4%** | **Egypt 1.4%** |
| Egypt Government International Bond<sup>(b)</sup>  | Egypt Government International Bond<sup>(b)</sup>  | Egypt Government International Bond<sup>(b)</sup>  | Egypt Government International Bond<sup>(b)</sup>  |
| 02/21/2048 | &nbsp;&nbsp; 7.903% | 1491000 | &nbsp;&nbsp; 1208793 |
| 02/16/2061 | &nbsp;&nbsp; 7.500% | 5440000 | &nbsp;&nbsp; 4120244 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5329037** |
| **Ghana 1.1%** | **Ghana 1.1%** | **Ghana 1.1%** | **Ghana 1.1%** |
| Ghana Government International Bond<sup>(b),(f)</sup>  | Ghana Government International Bond<sup>(b),(f)</sup>  | Ghana Government International Bond<sup>(b),(f)</sup>  | Ghana Government International Bond<sup>(b),(f)</sup>  |
| 07/03/2035 | &nbsp;&nbsp; 5.000% | 5135567 | &nbsp;&nbsp; 4371601 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Guatemala 0.6%** | **Guatemala 0.6%** | **Guatemala 0.6%** | **Guatemala 0.6%** |
| Guatemala Government Bond<sup>(b)</sup>  | Guatemala Government Bond<sup>(b)</sup>  | Guatemala Government Bond<sup>(b)</sup>  | Guatemala Government Bond<sup>(b)</sup>  |
| 08/06/2031 | &nbsp;&nbsp; 6.050% | 879000 | &nbsp;&nbsp; 895134 |
| 10/07/2033 | &nbsp;&nbsp; 3.700% | 909000 | &nbsp;&nbsp; 791348 |
| 06/01/2050 | &nbsp;&nbsp; 6.125% | 489000 | &nbsp;&nbsp; 465955 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2152437** |
| **Hungary 1.9%** | **Hungary 1.9%** | **Hungary 1.9%** | **Hungary 1.9%** |
| Hungary Government International Bond<sup>(b)</sup>  | Hungary Government International Bond<sup>(b)</sup>  | Hungary Government International Bond<sup>(b)</sup>  | Hungary Government International Bond<sup>(b)</sup>  |
| 09/22/2031 | &nbsp;&nbsp; 2.125% | 5637000 | &nbsp;&nbsp; 4774429 |
| 09/22/2032 | &nbsp;&nbsp; 6.250% | 1330000 | &nbsp;&nbsp; 1384510 |
| 09/21/2051 | &nbsp;&nbsp; 3.125% | 1930000 | &nbsp;&nbsp; 1141218 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7300157** |
| **India 1.3%** | **India 1.3%** | **India 1.3%** | **India 1.3%** |
| Export-Import Bank of India<sup>(b)</sup>  | Export-Import Bank of India<sup>(b)</sup>  | Export-Import Bank of India<sup>(b)</sup>  | Export-Import Bank of India<sup>(b)</sup>  |
| 02/01/2028 | &nbsp;&nbsp; 3.875% | 2700000 | &nbsp;&nbsp; 2666837 |
| 01/15/2030 | &nbsp;&nbsp; 3.250% | 2669000 | &nbsp;&nbsp; 2539682 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5206519** |
| **Indonesia 6.5%** | **Indonesia 6.5%** | **Indonesia 6.5%** | **Indonesia 6.5%** |
| Indonesia Government International Bond | Indonesia Government International Bond | Indonesia Government International Bond | Indonesia Government International Bond |
| 09/18/2029 | &nbsp;&nbsp; 3.400% | 1900000 | &nbsp;&nbsp; 1824542 |
| 02/11/2049 | &nbsp;&nbsp; 5.350% | 778000 | &nbsp;&nbsp; 734357 |
| 10/30/2049 | &nbsp;&nbsp; 3.700% | 2255000 | &nbsp;&nbsp; 1611841 |
| Perusahaan Penerbit SBSN Indonesia III<sup>(b)</sup>  | Perusahaan Penerbit SBSN Indonesia III<sup>(b)</sup>  | Perusahaan Penerbit SBSN Indonesia III<sup>(b)</sup>  | Perusahaan Penerbit SBSN Indonesia III<sup>(b)</sup>  |
| 06/06/2032 | &nbsp;&nbsp; 4.700% | 15702000 | &nbsp;&nbsp; 15411610 |
| 11/15/2033 | &nbsp;&nbsp; 5.600% | 2680000 | &nbsp;&nbsp; 2725915 |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara<sup>(b)</sup>  | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara<sup>(b)</sup>  | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara<sup>(b)</sup>  | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara<sup>(b)</sup>  |
| 02/03/2036 | &nbsp;&nbsp; 5.450% | 277000 | &nbsp;&nbsp; 265685 |
| PT Perusahaan Listrik Negara<sup>(b)</sup>  | PT Perusahaan Listrik Negara<sup>(b)</sup>  | PT Perusahaan Listrik Negara<sup>(b)</sup>  | PT Perusahaan Listrik Negara<sup>(b)</sup>  |
| 07/17/2049 | &nbsp;&nbsp; 4.875% | 3291000 | &nbsp;&nbsp; 2630473 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **25204423** |
| **Ivory Coast 2.0%** | **Ivory Coast 2.0%** | **Ivory Coast 2.0%** | **Ivory Coast 2.0%** |
| Ivory Coast Government International Bond<sup>(b)</sup>  | Ivory Coast Government International Bond<sup>(b)</sup>  | Ivory Coast Government International Bond<sup>(b)</sup>  | Ivory Coast Government International Bond<sup>(b)</sup>  |
| 03/03/2028 | &nbsp;&nbsp; 6.375% | 1667500 | &nbsp;&nbsp; 1676590 |
| 06/15/2033 | &nbsp;&nbsp; 6.125% | 2030000 | &nbsp;&nbsp; 1904486 |
| 04/01/2036 | &nbsp;&nbsp; 8.075% | 1157000 | &nbsp;&nbsp; 1173728 |
| 01/30/2037 | &nbsp;&nbsp; 8.250% | 2706000 | &nbsp;&nbsp; 2771127 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7525931** |
| **Jordan 0.3%** | **Jordan 0.3%** | **Jordan 0.3%** | **Jordan 0.3%** |
| Jordan Government International Bond<sup>(b)</sup>  | Jordan Government International Bond<sup>(b)</sup>  | Jordan Government International Bond<sup>(b)</sup>  | Jordan Government International Bond<sup>(b)</sup>  |
| 10/10/2047 | &nbsp;&nbsp; 7.375% | 1361000 | &nbsp;&nbsp; 1281410 |
| **Kazakhstan 1.6%** | **Kazakhstan 1.6%** | **Kazakhstan 1.6%** | **Kazakhstan 1.6%** |
| Development Bank of Kazakhstan<sup>(b)</sup>  | Development Bank of Kazakhstan<sup>(b)</sup>  | Development Bank of Kazakhstan<sup>(b)</sup>  | Development Bank of Kazakhstan<sup>(b)</sup>  |
| 04/15/2027 | &nbsp;&nbsp; 5.500% | 1898000 | &nbsp;&nbsp; 1905782 |

---

Columbia Variable Portfolio – Emerging Markets Bond Fund \| 2026

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Emerging Markets Bond Fund, March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>|  | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| KazMunayGas National Co. JSC<sup>(b)</sup>  | KazMunayGas National Co. JSC<sup>(b)</sup>  | KazMunayGas National Co. JSC<sup>(b)</sup>  | KazMunayGas National Co. JSC<sup>(b)</sup>  | KazMunayGas National Co. JSC<sup>(b)</sup>  |
| 04/24/2030 | &nbsp;&nbsp; 5.375% |  | 1997000 | &nbsp;&nbsp; 2013385 |
| 04/19/2047 | &nbsp;&nbsp; 5.750% |  | 2598000 | &nbsp;&nbsp; 2416897 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **6336064** |
| **Kenya 0.5%** | **Kenya 0.5%** | **Kenya 0.5%** | **Kenya 0.5%** | **Kenya 0.5%** |
| Republic of Kenya Government International Bond<sup>(b)</sup>  | Republic of Kenya Government International Bond<sup>(b)</sup>  | Republic of Kenya Government International Bond<sup>(b)</sup>  | Republic of Kenya Government International Bond<sup>(b)</sup>  | Republic of Kenya Government International Bond<sup>(b)</sup>  |
| 02/26/2039 | &nbsp;&nbsp; 8.700% |  | 1946000 | &nbsp;&nbsp; 1757948 |
| **Lebanon 0.5%** | **Lebanon 0.5%** | **Lebanon 0.5%** | **Lebanon 0.5%** | **Lebanon 0.5%** |
| Lebanon Government International Bond<sup>(b),(g)</sup>  | Lebanon Government International Bond<sup>(b),(g)</sup>  | Lebanon Government International Bond<sup>(b),(g)</sup>  | Lebanon Government International Bond<sup>(b),(g)</sup>  | Lebanon Government International Bond<sup>(b),(g)</sup>  |
| 04/12/2021 | &nbsp;&nbsp; 0.000% |  | 2097000 | &nbsp;&nbsp; 496938 |
| 11/04/2024 | &nbsp;&nbsp; 0.000% |  | 1790000 | &nbsp;&nbsp; 419418 |
| 03/20/2028 | &nbsp;&nbsp; 0.000% |  | 2096000 | &nbsp;&nbsp; 491926 |
| Lebanon Government International Bond<sup>(g)</sup>  | Lebanon Government International Bond<sup>(g)</sup>  | Lebanon Government International Bond<sup>(g)</sup>  | Lebanon Government International Bond<sup>(g)</sup>  | Lebanon Government International Bond<sup>(g)</sup>  |
| 05/17/2034 | &nbsp;&nbsp; 0.000% |  | 2097000 | &nbsp;&nbsp; 500120 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **1908402** |
| **Mexico 8.3%** | **Mexico 8.3%** | **Mexico 8.3%** | **Mexico 8.3%** | **Mexico 8.3%** |
| Comision Federal de Electricidad<sup>(b)</sup>  | Comision Federal de Electricidad<sup>(b)</sup>  | Comision Federal de Electricidad<sup>(b)</sup>  | Comision Federal de Electricidad<sup>(b)</sup>  | Comision Federal de Electricidad<sup>(b)</sup>  |
| 07/26/2033 | &nbsp;&nbsp; 3.875% |  | 4200000 | &nbsp;&nbsp; 3595012 |
| 01/28/2034 | &nbsp;&nbsp; 6.045% |  | 271000 | &nbsp;&nbsp; 262483 |
| Mexican Bonos | Mexican Bonos | Mexican Bonos | Mexican Bonos | Mexican Bonos |
| 05/31/2029 | &nbsp;&nbsp; 8.500% | MXN | 15000000 | &nbsp;&nbsp; 836673 |
| Mexico Government International Bond | Mexico Government International Bond | Mexico Government International Bond | Mexico Government International Bond | Mexico Government International Bond |
| 02/12/2034 | &nbsp;&nbsp; 3.500% |  | 12841000 | &nbsp;&nbsp; 10888989 |
| 02/09/2038 | &nbsp;&nbsp; 6.125% |  | 1119000 | &nbsp;&nbsp; 1092205 |
| 05/16/2040 | &nbsp;&nbsp; 5.375% | EUR | 694000 | &nbsp;&nbsp; 776014 |
| 05/07/2054 | &nbsp;&nbsp; 6.400% |  | 4493000 | &nbsp;&nbsp; 4190585 |
| Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos |
| 11/12/2026 | &nbsp;&nbsp; 7.470% | MXN | 4700000 | &nbsp;&nbsp; 261347 |
| 01/28/2031 | &nbsp;&nbsp; 5.950% |  | 5982000 | &nbsp;&nbsp; 5715964 |
| 01/23/2045 | &nbsp;&nbsp; 6.375% |  | 1657000 | &nbsp;&nbsp; 1303490 |
| 02/12/2048 | &nbsp;&nbsp; 6.350% |  | 4191000 | &nbsp;&nbsp; 3203657 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **32126419** |
| **Mongolia 0.1%** | **Mongolia 0.1%** | **Mongolia 0.1%** | **Mongolia 0.1%** | **Mongolia 0.1%** |
| Mongolia Government International Bond<sup>(b)</sup>  | Mongolia Government International Bond<sup>(b)</sup>  | Mongolia Government International Bond<sup>(b)</sup>  | Mongolia Government International Bond<sup>(b)</sup>  | Mongolia Government International Bond<sup>(b)</sup>  |
| 01/19/2028 | &nbsp;&nbsp; 8.650% |  | 488000 | &nbsp;&nbsp; 509993 |
| **Morocco 0.9%** | **Morocco 0.9%** | **Morocco 0.9%** | **Morocco 0.9%** | **Morocco 0.9%** |
| OCP SA<sup>(b)</sup>  | OCP SA<sup>(b)</sup>  | OCP SA<sup>(b)</sup>  | OCP SA<sup>(b)</sup>  | OCP SA<sup>(b)</sup>  |
| 03/01/2036 | &nbsp;&nbsp; 6.700% |  | 1158000 | &nbsp;&nbsp; 1188606 |
| 06/23/2051 | &nbsp;&nbsp; 5.125% |  | 3071000 | &nbsp;&nbsp; 2388068 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **3576674** |
| **Nigeria 1.9%** | **Nigeria 1.9%** | **Nigeria 1.9%** | **Nigeria 1.9%** | **Nigeria 1.9%** |
| Nigeria Government International Bond<sup>(b)</sup>  | Nigeria Government International Bond<sup>(b)</sup>  | Nigeria Government International Bond<sup>(b)</sup>  | Nigeria Government International Bond<sup>(b)</sup>  | Nigeria Government International Bond<sup>(b)</sup>  |
| 09/28/2028 | &nbsp;&nbsp; 6.125% |  | 1600000 | &nbsp;&nbsp; 1583949 |
| 09/28/2033 | &nbsp;&nbsp; 7.375% |  | 2796000 | &nbsp;&nbsp; 2727309 |
| 12/09/2034 | &nbsp;&nbsp; 10.375% |  | 1024000 | &nbsp;&nbsp; 1172203 |
| 01/13/2036 | &nbsp;&nbsp; 8.631% |  | 306000 | &nbsp;&nbsp; 318044 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| 11/28/2047 | &nbsp;&nbsp; 7.625% | 1739000 | &nbsp;&nbsp; 1584319 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7385824** |
| **Oman 1.7%** | **Oman 1.7%** | **Oman 1.7%** | **Oman 1.7%** |
| Oman Government International Bond<sup>(b)</sup>  | Oman Government International Bond<sup>(b)</sup>  | Oman Government International Bond<sup>(b)</sup>  | Oman Government International Bond<sup>(b)</sup>  |
| 01/17/2048 | &nbsp;&nbsp; 6.750% | 4233000 | &nbsp;&nbsp; 4408388 |
| OQ SAOC<sup>(b)</sup>  | OQ SAOC<sup>(b)</sup>  | OQ SAOC<sup>(b)</sup>  | OQ SAOC<sup>(b)</sup>  |
| 05/06/2028 | &nbsp;&nbsp; 5.125% | 1964000 | &nbsp;&nbsp; 1957038 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6365426** |
| **Pakistan 0.7%** | **Pakistan 0.7%** | **Pakistan 0.7%** | **Pakistan 0.7%** |
| Pakistan Government International Bond<sup>(b)</sup>  | Pakistan Government International Bond<sup>(b)</sup>  | Pakistan Government International Bond<sup>(b)</sup>  | Pakistan Government International Bond<sup>(b)</sup>  |
| 12/05/2027 | &nbsp;&nbsp; 6.875% | 1400000 | &nbsp;&nbsp; 1378959 |
| 04/08/2031 | &nbsp;&nbsp; 7.375% | 1395000 | &nbsp;&nbsp; 1289252 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2668211** |
| **Panama 1.7%** | **Panama 1.7%** | **Panama 1.7%** | **Panama 1.7%** |
| Panama Government International Bond | Panama Government International Bond | Panama Government International Bond | Panama Government International Bond |
| 03/01/2031 | &nbsp;&nbsp; 7.500% | 1494000 | &nbsp;&nbsp; 1639691 |
| 09/29/2032 | &nbsp;&nbsp; 2.252% | 2800000 | &nbsp;&nbsp; 2300916 |
| 01/19/2033 | &nbsp;&nbsp; 3.298% | 2978000 | &nbsp;&nbsp; 2588867 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6529474** |
| **Paraguay 2.1%** | **Paraguay 2.1%** | **Paraguay 2.1%** | **Paraguay 2.1%** |
| Paraguay Government International Bond<sup>(b)</sup>  | Paraguay Government International Bond<sup>(b)</sup>  | Paraguay Government International Bond<sup>(b)</sup>  | Paraguay Government International Bond<sup>(b)</sup>  |
| 06/28/2033 | &nbsp;&nbsp; 3.849% | 2000000 | &nbsp;&nbsp; 1851247 |
| 08/11/2044 | &nbsp;&nbsp; 6.100% | 5068000 | &nbsp;&nbsp; 5033463 |
| 03/30/2050 | &nbsp;&nbsp; 5.400% | 1574000 | &nbsp;&nbsp; 1400495 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8285205** |
| **Peru 2.2%** | **Peru 2.2%** | **Peru 2.2%** | **Peru 2.2%** |
| Peruvian Government International Bond | Peruvian Government International Bond | Peruvian Government International Bond | Peruvian Government International Bond |
| 01/15/2034 | &nbsp;&nbsp; 3.000% | 3634000 | &nbsp;&nbsp; 3103993 |
| 11/18/2050 | &nbsp;&nbsp; 5.625% | 5677000 | &nbsp;&nbsp; 5402759 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8506752** |
| **Philippines 0.9%** | **Philippines 0.9%** | **Philippines 0.9%** | **Philippines 0.9%** |
| Philippine Government International Bond | Philippine Government International Bond | Philippine Government International Bond | Philippine Government International Bond |
| 07/06/2046 | &nbsp;&nbsp; 3.200% | 5234000 | &nbsp;&nbsp; 3583070 |
| **Poland 1.8%** | **Poland 1.8%** | **Poland 1.8%** | **Poland 1.8%** |
| Republic of Poland Government International Bond | Republic of Poland Government International Bond | Republic of Poland Government International Bond | Republic of Poland Government International Bond |
| 10/04/2033 | &nbsp;&nbsp; 4.875% | 1700000 | &nbsp;&nbsp; 1696944 |
| 09/18/2034 | &nbsp;&nbsp; 5.125% | 3384000 | &nbsp;&nbsp; 3398296 |
| 03/18/2054 | &nbsp;&nbsp; 5.500% | 1919000 | &nbsp;&nbsp; 1768459 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6863699** |

---

Columbia Variable Portfolio – Emerging Markets Bond Fund \| 2026

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Emerging Markets Bond Fund, March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Romania 2.7%** | **Romania 2.7%** | **Romania 2.7%** | **Romania 2.7%** |
| Romanian Government International Bond<sup>(b)</sup>  | Romanian Government International Bond<sup>(b)</sup>  | Romanian Government International Bond<sup>(b)</sup>  | Romanian Government International Bond<sup>(b)</sup>  |
| 03/27/2032 | &nbsp;&nbsp; 3.625% | 9002000 | &nbsp;&nbsp; 7885763 |
| 02/10/2037 | &nbsp;&nbsp; 7.500% | 1636000 | &nbsp;&nbsp; 1725320 |
| 06/15/2048 | &nbsp;&nbsp; 5.125% | 982000 | &nbsp;&nbsp; 768554 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10379637** |
| **Russian Federation 0.4%** | **Russian Federation 0.4%** | **Russian Federation 0.4%** | **Russian Federation 0.4%** |
| Gazprom PJSC via Gaz Finance PLC<sup>(b)</sup>  | Gazprom PJSC via Gaz Finance PLC<sup>(b)</sup>  | Gazprom PJSC via Gaz Finance PLC<sup>(b)</sup>  | Gazprom PJSC via Gaz Finance PLC<sup>(b)</sup>  |
| 02/25/2030 | &nbsp;&nbsp; 3.250% | 2254000 | &nbsp;&nbsp; 1531811 |
| **Saudi Arabia 4.7%** | **Saudi Arabia 4.7%** | **Saudi Arabia 4.7%** | **Saudi Arabia 4.7%** |
| Avilease Capital Ltd.<sup>(b)</sup>  | Avilease Capital Ltd.<sup>(b)</sup>  | Avilease Capital Ltd.<sup>(b)</sup>  | Avilease Capital Ltd.<sup>(b)</sup>  |
| 11/12/2030 | &nbsp;&nbsp; 4.750% | 2453000 | &nbsp;&nbsp; 2388881 |
| KSA Ijarah Sukuk Ltd.<sup>(b)</sup>  | KSA Ijarah Sukuk Ltd.<sup>(b)</sup>  | KSA Ijarah Sukuk Ltd.<sup>(b)</sup>  | KSA Ijarah Sukuk Ltd.<sup>(b)</sup>  |
| 09/09/2030 | &nbsp;&nbsp; 4.250% | 3070000 | &nbsp;&nbsp; 2998094 |
| KSA Sukuk Ltd.<sup>(b)</sup>  | KSA Sukuk Ltd.<sup>(b)</sup>  | KSA Sukuk Ltd.<sup>(b)</sup>  | KSA Sukuk Ltd.<sup>(b)</sup>  |
| 10/29/2029 | &nbsp;&nbsp; 2.969% | 1000000 | &nbsp;&nbsp; 939774 |
| Saudi Government International Bond<sup>(b)</sup>  | Saudi Government International Bond<sup>(b)</sup>  | Saudi Government International Bond<sup>(b)</sup>  | Saudi Government International Bond<sup>(b)</sup>  |
| 10/22/2030 | &nbsp;&nbsp; 3.250% | 1900000 | &nbsp;&nbsp; 1775329 |
| 07/18/2033 | &nbsp;&nbsp; 4.875% | 1830000 | &nbsp;&nbsp; 1804642 |
| 01/13/2035 | &nbsp;&nbsp; 5.625% | 5587000 | &nbsp;&nbsp; 5764219 |
| 01/12/2056 | &nbsp;&nbsp; 5.875% | 2477000 | &nbsp;&nbsp; 2355735 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18026674** |
| **South Africa 1.9%** | **South Africa 1.9%** | **South Africa 1.9%** | **South Africa 1.9%** |
| Republic of South Africa Government International Bond | Republic of South Africa Government International Bond | Republic of South Africa Government International Bond | Republic of South Africa Government International Bond |
| 09/30/2049 | &nbsp;&nbsp; 5.750% | 3900000 | &nbsp;&nbsp; 3009887 |
| 04/20/2052 | &nbsp;&nbsp; 7.300% | 2592000 | &nbsp;&nbsp; 2394025 |
| Republic of South Africa Government International Bond<sup>(b)</sup>  | Republic of South Africa Government International Bond<sup>(b)</sup>  | Republic of South Africa Government International Bond<sup>(b)</sup>  | Republic of South Africa Government International Bond<sup>(b)</sup>  |
| 11/19/2054 | &nbsp;&nbsp; 7.950% | 1262000 | &nbsp;&nbsp; 1250747 |
| 12/11/2055 | &nbsp;&nbsp; 7.250% | 610000 | &nbsp;&nbsp; 557035 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7211694** |
| **Sri Lanka 0.8%** | **Sri Lanka 0.8%** | **Sri Lanka 0.8%** | **Sri Lanka 0.8%** |
| Sri Lanka Government International Bond<sup>(b)</sup>  | Sri Lanka Government International Bond<sup>(b)</sup>  | Sri Lanka Government International Bond<sup>(b)</sup>  | Sri Lanka Government International Bond<sup>(b)</sup>  |
| 04/15/2028 | &nbsp;&nbsp; 4.000% | 419659 | &nbsp;&nbsp; 399555 |
| Sri Lanka Government International Bond<sup>(b),(f)</sup>  | Sri Lanka Government International Bond<sup>(b),(f)</sup>  | Sri Lanka Government International Bond<sup>(b),(f)</sup>  | Sri Lanka Government International Bond<sup>(b),(f)</sup>  |
| 01/15/2030 | &nbsp;&nbsp; 3.100% | 429898 | &nbsp;&nbsp; 394790 |
| 03/15/2033 | &nbsp;&nbsp; 3.350% | 843238 | &nbsp;&nbsp; 702991 |
| 06/15/2035 | &nbsp;&nbsp; 3.600% | 569380 | &nbsp;&nbsp; 428911 |
| 05/15/2036 | &nbsp;&nbsp; 3.600% | 395163 | &nbsp;&nbsp; 349473 |
| 02/15/2038 | &nbsp;&nbsp; 3.600% | 790658 | &nbsp;&nbsp; 703985 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2979705** |
| **Turkey 6.5%** | **Turkey 6.5%** | **Turkey 6.5%** | **Turkey 6.5%** |
| Turkey Government International Bond | Turkey Government International Bond | Turkey Government International Bond | Turkey Government International Bond |
| 04/14/2026 | &nbsp;&nbsp; 4.250% | 3300000 | &nbsp;&nbsp; 3299607 |
| 02/17/2028 | &nbsp;&nbsp; 5.125% | 8000000 | &nbsp;&nbsp; 7884220 |
| 03/14/2029 | &nbsp;&nbsp; 9.375% | 1600000 | &nbsp;&nbsp; 1725136 |
| 04/26/2029 | &nbsp;&nbsp; 7.625% | 1885000 | &nbsp;&nbsp; 1946331 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| 05/11/2047 | &nbsp;&nbsp; 5.750% | 500000 | &nbsp;&nbsp; 373691 |
| Turkiye Government International Bond | Turkiye Government International Bond | Turkiye Government International Bond | Turkiye Government International Bond |
| 03/13/2030 | &nbsp;&nbsp; 5.250% | 4749000 | &nbsp;&nbsp; 4533615 |
| 05/15/2034 | &nbsp;&nbsp; 7.625% | 4335000 | &nbsp;&nbsp; 4401271 |
| 01/03/2035 | &nbsp;&nbsp; 6.500% | 1000000 | &nbsp;&nbsp; 938824 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **25102695** |
| **Ukraine 1.4%** | **Ukraine 1.4%** | **Ukraine 1.4%** | **Ukraine 1.4%** |
| Ukraine Government International Bond<sup>(b),(f)</sup>  | Ukraine Government International Bond<sup>(b),(f)</sup>  | Ukraine Government International Bond<sup>(b),(f)</sup>  | Ukraine Government International Bond<sup>(b),(f)</sup>  |
| 02/01/2032 | &nbsp;&nbsp; 4.000% | 2948000 | &nbsp;&nbsp; 2128447 |
| 02/01/2034 | &nbsp;&nbsp; 4.500% | 1575787 | &nbsp;&nbsp; 844417 |
| 02/01/2035 | &nbsp;&nbsp; 4.500% | 4480482 | &nbsp;&nbsp; 2354119 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5326983** |
| **United Arab Emirates 5.6%** | **United Arab Emirates 5.6%** | **United Arab Emirates 5.6%** | **United Arab Emirates 5.6%** |
| Abu Dhabi Developmental Holding Co. PJSC<sup>(b)</sup>  | Abu Dhabi Developmental Holding Co. PJSC<sup>(b)</sup>  | Abu Dhabi Developmental Holding Co. PJSC<sup>(b)</sup>  | Abu Dhabi Developmental Holding Co. PJSC<sup>(b)</sup>  |
| 05/06/2035 | &nbsp;&nbsp; 5.000% | 2179000 | &nbsp;&nbsp; 2113248 |
| Abu Dhabi Future Energy Co Pjsc Masdar<sup>(b)</sup>  | Abu Dhabi Future Energy Co Pjsc Masdar<sup>(b)</sup>  | Abu Dhabi Future Energy Co Pjsc Masdar<sup>(b)</sup>  | Abu Dhabi Future Energy Co Pjsc Masdar<sup>(b)</sup>  |
| 07/25/2034 | &nbsp;&nbsp; 5.250% | 2500000 | &nbsp;&nbsp; 2466846 |
| Adnoc Murban Rsc Ltd.<sup>(b)</sup>  | Adnoc Murban Rsc Ltd.<sup>(b)</sup>  | Adnoc Murban Rsc Ltd.<sup>(b)</sup>  | Adnoc Murban Rsc Ltd.<sup>(b)</sup>  |
| 09/11/2034 | &nbsp;&nbsp; 4.500% | 2000000 | &nbsp;&nbsp; 1890768 |
| DAE Sukuk Difc Ltd.<sup>(b)</sup>  | DAE Sukuk Difc Ltd.<sup>(b)</sup>  | DAE Sukuk Difc Ltd.<sup>(b)</sup>  | DAE Sukuk Difc Ltd.<sup>(b)</sup>  |
| 10/16/2030 | &nbsp;&nbsp; 4.500% | 2051000 | &nbsp;&nbsp; 1959534 |
| DP World Crescent Ltd.<sup>(b)</sup>  | DP World Crescent Ltd.<sup>(b)</sup>  | DP World Crescent Ltd.<sup>(b)</sup>  | DP World Crescent Ltd.<sup>(b)</sup>  |
| 09/26/2028 | &nbsp;&nbsp; 4.848% | 2000000 | &nbsp;&nbsp; 1975168 |
| 05/08/2035 | &nbsp;&nbsp; 5.500% | 1910000 | &nbsp;&nbsp; 1869449 |
| DP World Ltd.<sup>(b)</sup>  | DP World Ltd.<sup>(b)</sup>  | DP World Ltd.<sup>(b)</sup>  | DP World Ltd.<sup>(b)</sup>  |
| 09/25/2048 | &nbsp;&nbsp; 5.625% | 1291000 | &nbsp;&nbsp; 1153339 |
| DP World PLC<sup>(b)</sup>  | DP World PLC<sup>(b)</sup>  | DP World PLC<sup>(b)</sup>  | DP World PLC<sup>(b)</sup>  |
| 07/02/2037 | &nbsp;&nbsp; 6.850% | 5900000 | &nbsp;&nbsp; 6229032 |
| MDGH GMTN (RSC), Ltd.<sup>(b)</sup>  | MDGH GMTN (RSC), Ltd.<sup>(b)</sup>  | MDGH GMTN (RSC), Ltd.<sup>(b)</sup>  | MDGH GMTN (RSC), Ltd.<sup>(b)</sup>  |
| 04/28/2033 | &nbsp;&nbsp; 5.500% | 1808000 | &nbsp;&nbsp; 1832577 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **21489961** |
| **Uruguay 0.9%** | **Uruguay 0.9%** | **Uruguay 0.9%** | **Uruguay 0.9%** |
| Oriental Republic of Uruguay | Oriental Republic of Uruguay | Oriental Republic of Uruguay | Oriental Republic of Uruguay |
| 09/10/2060 | &nbsp;&nbsp; 5.250% | 2907578 | &nbsp;&nbsp; 2633147 |
| Uruguay Government International Bond | Uruguay Government International Bond | Uruguay Government International Bond | Uruguay Government International Bond |
| 11/20/2045 | &nbsp;&nbsp; 4.125% | 1077570 | &nbsp;&nbsp; 914956 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3548103** |
| **Venezuela 1.6%** | **Venezuela 1.6%** | **Venezuela 1.6%** | **Venezuela 1.6%** |
| Petroleos de Venezuela SA<sup>(b),(g)</sup>  | Petroleos de Venezuela SA<sup>(b),(g)</sup>  | Petroleos de Venezuela SA<sup>(b),(g)</sup>  | Petroleos de Venezuela SA<sup>(b),(g)</sup>  |
| 05/16/2024 | &nbsp;&nbsp; 0.000% | 12559928 | &nbsp;&nbsp; 4352472 |
| Venezuela Government International Bond<sup>(b),(g)</sup>  | Venezuela Government International Bond<sup>(b),(g)</sup>  | Venezuela Government International Bond<sup>(b),(g)</sup>  | Venezuela Government International Bond<sup>(b),(g)</sup>  |
| 10/13/2024 | &nbsp;&nbsp; 0.000% | 4300000 | &nbsp;&nbsp; 1828556 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6181028** |

---

Columbia Variable Portfolio – Emerging Markets Bond Fund \| 2026

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Emerging Markets Bond Fund, March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** | **Foreign Government Obligations**<sup>(d),(e)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Zambia 0.7%** | **Zambia 0.7%** | **Zambia 0.7%** | **Zambia 0.7%** |
| Zambia Government International Bond<sup>(b),(f)</sup>  | Zambia Government International Bond<sup>(b),(f)</sup>  | Zambia Government International Bond<sup>(b),(f)</sup>  | Zambia Government International Bond<sup>(b),(f)</sup>  |
| 06/30/2033 | &nbsp;&nbsp; 5.750% | 1574988 | &nbsp;&nbsp; 1474845 |
| Zambia Government International Bond<sup>(b)</sup>  | Zambia Government International Bond<sup>(b)</sup>  | Zambia Government International Bond<sup>(b)</sup>  | Zambia Government International Bond<sup>(b)</sup>  |
| 12/31/2053 | &nbsp;&nbsp; 0.500% | 1617939 | &nbsp;&nbsp; 1056121 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2530966** |
| &nbsp;&nbsp; Total Foreign Government Obligations <br>(Cost $339,773,783) | &nbsp;&nbsp; Total Foreign Government Obligations <br>(Cost $339,773,783) | &nbsp;&nbsp; Total Foreign Government Obligations <br>(Cost $339,773,783) | &nbsp;&nbsp; **337508385** |

---

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

---

| | | |
|:---|:---|:---|
| **Money Market Funds 4.2%** | **Money Market Funds 4.2%** | **Money Market Funds 4.2%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.790%<sup>(h),(i)</sup> <br>| &nbsp;&nbsp; 16464126 | &nbsp;&nbsp; 16457540 |
| &nbsp;&nbsp; Total Money Market Funds <br>(Cost $16,458,160) | &nbsp;&nbsp; Total Money Market Funds <br>(Cost $16,458,160) | &nbsp;&nbsp; **16457540** |
| **Total Investments in Securities** <br>**(Cost $387,469,777)** | **Total Investments in Securities** <br>**(Cost $387,469,777)** | &nbsp;&nbsp; **381540137** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **4325291** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$385865428** |

---

**Investments in derivatives** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** |
| **Currency to** <br>**be sold**<br>| &nbsp;&nbsp;&nbsp; **Currency to** <br>**be purchased**<br>| **Counterparty** | **Settlement** <br>**date**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**depreciation ($)**<br>|
| &nbsp;&nbsp; 3,062,222 EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3,551,779 USD | Citi | 04/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10873 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 20,742,607 MXN | &nbsp;&nbsp;&nbsp;&nbsp; 1,166,713 USD | HSBC | 04/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10170 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 21043 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Zero coupon bond.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents privately placed and other securities and instruments exempt from Securities
 and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only
 to qualified institutional buyers. At March 31, 2026, the total value of these securities amounted to $236,481,001, which represents 61.29% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment-in-kind security. Interest can be paid by issuing additional par of the security
 or in cash.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Principal amounts are denominated in United States Dollars unless otherwise noted.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Principal and interest may not be guaranteed by a governmental entity.

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

&nbsp;&nbsp;&nbsp;&nbsp;(g) Represents a security in default.

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

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

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated 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, 3.790% | Columbia Short-Term Cash Fund, 3.790% | Columbia Short-Term Cash Fund, 3.790% | Columbia Short-Term Cash Fund, 3.790% | Columbia Short-Term Cash Fund, 3.790% | Columbia Short-Term Cash Fund, 3.790% | Columbia Short-Term Cash Fund, 3.790% | Columbia Short-Term Cash Fund, 3.790% | Columbia Short-Term Cash Fund, 3.790% |
|  | 3761490 | &nbsp;&nbsp; 37946666 | &nbsp;&nbsp; (25249996)<br>| &nbsp;&nbsp; (620)<br>| &nbsp;&nbsp; 16457540 | &nbsp;&nbsp; (1615)<br>| &nbsp;&nbsp; 93873 | &nbsp;&nbsp; 16464126 |

---

**Currency Legend** 

---

| | |
|:---|:---|
| BRL | Brazilian Real |
| EUR | Euro |
| MXN | Mexican Peso |
| 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 – Emerging Markets Bond Fund \| 2026

------

[THIS PAGE INTENTIONALLY LEFT BLANK]

------

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

1QT7006_(05/26)

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1800-345-6611

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

- **a. Name of Series:** Columbia Variable Portfolio - Emerging Markets Bond Fund

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

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

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

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

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $388860838.57

**Total Liabilities:** $2780960.15

**Net Assets:** $386079878.42

**Cash Not Reported:** $2790617.44

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 41.02000000 | **1-Year:** 1890.33000000 | **5-Year:** 28139.41000000 | **10-Year:** 53059.95000000 | **30-Year:** 50909.76000000

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

- **3-Month:** 12.88000000 | **1-Year:** 3206.75000000 | **5-Year:** 22265.61000000 | **10-Year:** 47955.69000000 | **30-Year:** 35819.97000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000112082 | 0.82%                | 1.17%                | -3.39%               |
| Class ID C000112083 | 0.71%                | 1.17%                | -3.45%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-378872.75              | $1868996.19                                |
| Month 2  | $692227.99               | $2243513.58                                |
| Month 3  | $-2247823.84             | $-13679160.07                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABU DHABI DEVELOPMENT HO                                | Abu Dhabi Developmental Holding Co PJSC                   | CUSIP: 00402AAB7<br>LEI: 254900G082ZFKTCR2Q75 | Long             | DBT              | CORP              | AE        |   2179000 | PA      | $2113248.19   | 0.55%             | 2035-05-06      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                                  | AngloGold Ashanti Holdings PLC                            | CUSIP: 03512TAE1<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    735000 | PA      | $705467.22    | 0.18%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                      | Angolan Government International Bond                     | CUSIP: 035198AJ9<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   1004000 | PA      | $1005122.21   | 0.26%             | 2035-10-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds       | Argentina Republic Government International Bonds         | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |  13765998 | PA      | $9946417.63   | 2.58%             | 2035-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds       | Argentina Republic Government International Bonds         | CUSIP: 040114HW3<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    670909 | PA      | $459461.33    | 0.12%             | 2046-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| AVILEASE CAPITAL LTD                                    | Avilease Capital Ltd                                      | CUSIP: 05370HAA1<br>LEI: 635400SXOPVAVBWNE366 | Long             | DBT              | CORP              | KY        |   2453000 | PA      | $2388880.66   | 0.62%             | 2030-11-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF BAHRAIN                                      | Bahrain Government International Bond                     | CUSIP: 05675M2J2<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |   2635000 | PA      | $2320311.88   | 0.60%             | 2034-05-18      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Brazil Government International Bonds                   | Brazil Government International Bonds                     | CUSIP: 105756BW9<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    698000 | PA      | $547513.70    | 0.14%             | 2045-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brazil Government International Bonds                   | Brazil Government International Bonds                     | CUSIP: 105756CJ7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    931000 | PA      | $913292.33    | 0.24%             | 2054-05-13      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Brazil Government International Bonds                   | Brazil Government International Bonds                     | CUSIP: 105756CK4<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1770000 | PA      | $1811849.49   | 0.47%             | 2032-01-22      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                                  | Brazilian Government International Bond                   | CUSIP: 105756CN8<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   2003000 | PA      | $1961868.62   | 0.51%             | 2056-01-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CBB INTL SUKUK PROG WLL                                 | CBB International Sukuk Programme Co WLL                  | CUSIP: 124808AD8<br>LEI: 5493006IRJ2IWXTNIM16 | Long             | DBT              | NUSS              | BH        |   2816000 | PA      | $2677578.80   | 0.69%             | 2034-09-03      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CBB INTL SUKUK PROG WLL                                 | CBB INTERNATIONAL SUKUK PROGRAMME COMPANY WLL             | CUSIP: 12482TAC2<br>LEI: 5493006IRJ2IWXTNIM16 | Long             | DBT              | NUSS              | BH        |   3867000 | PA      | $3517784.35   | 0.91%             | 2029-05-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds                    | Chile Government International Bonds                      | CUSIP: 168863DZ8<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   8504772 | PA      | $8404304.86   | 2.18%             | 2036-01-05      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                 | Colombia Government International Bonds                   | CUSIP: 195325BK0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   3400000 | PA      | $3383174.37   | 0.88%             | 2037-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                 | Colombia Government International Bonds                   | CUSIP: 195325BR5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1721000 | PA      | $1356154.44   | 0.35%             | 2044-02-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                 | Colombia Government International Bonds                   | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   2000000 | PA      | $2093368.16   | 0.54%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                 | Colombia Government International Bonds                   | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1757000 | PA      | $1797211.68   | 0.47%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                 | Colombia Government International Bonds                   | CUSIP: 195325ES0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1158000 | PA      | $1250923.54   | 0.32%             | 2035-04-25      | Fixed         | 8.50%                 | 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        |  16464126 | NS      | $16457540.31  | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| COMISION FEDERAL DE ELEC                                | Comision Federal de Electricidad                          | CUSIP: 200447AQ3<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    271000 | PA      | $262482.52    | 0.07%             | 2034-01-28      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                             | Corp Nacional del Cobre de Chile                          | CUSIP: 21987BBK3<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |   1991000 | PA      | $2091488.48   | 0.54%             | 2036-01-26      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                             | Corp Nacional del Cobre de Chile                          | CUSIP: 21987BBQ0<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |   4030000 | PA      | $3946755.28   | 1.02%             | 2037-01-30      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                             | Ivory Coast Government International Bond                 | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   1157000 | PA      | $1173727.72   | 0.30%             | 2036-04-01      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| DAE SUKUK DIFC LTD                                      | DAE Sukuk Difc Ltd                                        | CUSIP: 23302JAC9<br>LEI: 635400AMGMPG1J5EQD94 | Long             | DBT              | CORP              | AE        |   2051000 | PA      | $1959533.99   | 0.51%             | 2030-10-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                      | Dominican Republic International Bond                     | CUSIP: 25714PCF3<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   2790000 | PA      | $2900791.40   | 0.75%             | 2044-04-30      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                      | Dominican Republic International Bond                     | CUSIP: 25714PCW6<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    271000 | PA      | $263494.05    | 0.07%             | 2045-01-27      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                      | Dominican Republic International Bond                     | CUSIP: 25714PDT2<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   4035000 | PA      | $4055065.54   | 1.05%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                      | Dominican Republic International Bond                     | CUSIP: 25714PED6<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   3659000 | PA      | $3477314.06   | 0.90%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LTD                                   | DP World Crescent Ltd                                     | CUSIP: 260979AA7<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | CORP              | KY        |   1910000 | PA      | $1869448.89   | 0.48%             | 2035-05-08      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                     | Ecuador Government International Bond                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | EC        |   1810000 | PA      | $1772707.24   | 0.46%             | 2034-01-29      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                     | Ecuador Government International Bond                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | EC        |   1108000 | PA      | $1085144.08   | 0.28%             | 2039-01-29      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| EMPRESA NACIONAL DEL PET                                | Empresa Nacional del Petroleo                             | CUSIP: 29245JAN2<br>LEI: 549300YP3P0JZBLIV197 | Long             | DBT              | CORP              | CL        |    881000 | PA      | $903090.01    | 0.23%             | 2033-05-10      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| EXPORT-IMPORT BK INDIA                                  | Export-Import Bank of India                               | CUSIP: 30216JAE5<br>LEI: 335800OFZ8YEIVN1QI11 | Long             | DBT              | NUSS              | IN        |   2669000 | PA      | $2539682.25   | 0.66%             | 2030-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Export-Import Bank of India                             | Export-Import Bank of India                               | CUSIP: 30216KAC6<br>LEI: 335800OFZ8YEIVN1QI11 | Long             | DBT              | NUSS              | IN        |   2700000 | PA      | $2666836.61   | 0.69%             | 2028-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                                  | Galaxy Pipeline Assets Bidco Ltd                          | CUSIP: 36321PAB6<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |   2600000 | PA      | $2210531.07   | 0.57%             | 2036-03-31      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                                  | Galaxy Pipeline Assets Bidco Ltd                          | CUSIP: 36321PAE0<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |   3728033 | PA      | $3015555.55   | 0.78%             | 2040-09-30      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                                       | Ghana Government International Bond                       | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |   5135567 | PA      | $4371600.50   | 1.13%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                                | Greensaif Pipelines Bidco Sarl                            | CUSIP: 39541EAA1<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |   1500000 | PA      | $1518655.79   | 0.39%             | 2038-02-23      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                                | Greensaif Pipelines Bidco Sarl                            | CUSIP: 39541EAD5<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |   3371000 | PA      | $3381341.83   | 0.88%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                                | Greensaif Pipelines Bidco Sarl                            | CUSIP: 39541EAE3<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |   1455000 | PA      | $1446803.05   | 0.37%             | 2042-08-23      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                   | Guatemala Government Bond                                 | CUSIP: 401494AT6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    909000 | PA      | $791347.92    | 0.20%             | 2033-10-07      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                   | Guatemala Government Bond                                 | CUSIP: 401494AY5<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    879000 | PA      | $895134.48    | 0.23%             | 2031-08-06      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                           | HTA Group Ltd/Mauritius                                   | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |   1759000 | PA      | $1785035.03   | 0.46%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF JORDAN                                       | Jordan Government International Bond                      | CUSIP: 418097AJ0<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |   1361000 | PA      | $1281410.33   | 0.33%             | 2047-10-10      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Indonesia Government International Bonds                | Indonesia Government International Bonds                  | CUSIP: 455780CJ3<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    778000 | PA      | $734356.66    | 0.19%             | 2049-02-11      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                                   | Indonesia Government International Bond                   | CUSIP: 455780CK0<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |   1900000 | PA      | $1824542.28   | 0.47%             | 2029-09-18      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Indonesia Government International Bonds                | Indonesia Government International Bonds                  | CUSIP: 455780CN4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |   2255000 | PA      | $1611841.37   | 0.42%             | 2049-10-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO                                 | KazMunayGas National Co JSC                               | CUSIP: 48667QAQ8<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |   1997000 | PA      | $2013384.46   | 0.52%             | 2030-04-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                       | Republic of Kenya Government International Bond           | CUSIP: 491798AS3<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   1946000 | PA      | $1757948.22   | 0.46%             | 2039-02-26      | Fixed         | 8.70%                 | No            |                  2 | On Loan: No      |
| KSA IJARAH SUKUK LTD                                    | KSA Ijarah Sukuk Ltd                                      | CUSIP: 50116FAA0<br>LEI: 558600OCHJOSSXHWLV71 | Long             | DBT              | NUSS              | KY        |   3070000 | PA      | $2998094.09   | 0.78%             | 2030-09-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                                       | MDGH GMTN RSC Ltd                                         | CUSIP: 55285GAB0<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |   1808000 | PA      | $1832577.58   | 0.47%             | 2033-04-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                                      | Mongolia Government International Bond                    | CUSIP: 60937LAG0<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |    488000 | PA      | $509992.54    | 0.13%             | 2028-01-19      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                     | Nigeria Government International Bond                     | CUSIP: 65412AFD9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   1024000 | PA      | $1172202.55   | 0.30%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                     | Nigeria Government International Bond                     | CUSIP: 65412AFF4<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    306000 | PA      | $318044.52    | 0.08%             | 2036-01-13      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                | OCP SA                                                    | CUSIP: 67091TAJ4<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |   1158000 | PA      | $1188605.95   | 0.31%             | 2036-03-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                                 | Pakistan Government International Bond                    | CUSIP: 695847AT0<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |   1395000 | PA      | $1289251.73   | 0.33%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                   | Panama Government International Bonds                     | CUSIP: 698299BN3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   2800000 | PA      | $2300916.28   | 0.60%             | 2032-09-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                   | Panama Government International Bonds                     | CUSIP: 698299BR4<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   2978000 | PA      | $2588866.81   | 0.67%             | 2033-01-19      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                   | Panama Government International Bonds                     | CUSIP: 698299BX1<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   1494000 | PA      | $1639691.02   | 0.42%             | 2031-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                    | Paraguay Government International Bond                    | CUSIP: 699149AB6<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |   5068000 | PA      | $5033463.41   | 1.30%             | 2044-08-11      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                    | Paraguay Government International Bond                    | CUSIP: 699149AH3<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |   1574000 | PA      | $1400494.73   | 0.36%             | 2050-03-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                    | Paraguay Government International Bond                    | CUSIP: 699149AL4<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |   2000000 | PA      | $1851246.82   | 0.48%             | 2033-06-28      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds                     | Peru Government International Bonds                       | CUSIP: 715638BM3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   5677000 | PA      | $5402759.45   | 1.40%             | 2050-11-18      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds                     | Peru Government International Bonds                       | CUSIP: 715638DU3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   3634000 | PA      | $3103992.72   | 0.80%             | 2034-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Perusahaan Penerbit SBSN Indonesia III                  | Perusahaan Penerbit SBSN Indonesia III                    | CUSIP: 71567RAV8<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |  15702000 | PA      | $15411609.72  | 3.99%             | 2032-06-06      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Perusahaan Penerbit SBSN Indonesia III                  | Perusahaan Penerbit SBSN Indonesia III                    | CUSIP: 71567RAY2<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |   2680000 | PA      | $2725914.67   | 0.71%             | 2033-11-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN LISTRIK NEGAR                                | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | CUSIP: 71568PAX7<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | CORP              | ID        |    277000 | PA      | $265685.22    | 0.07%             | 2036-02-03      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN LISTRIK NEGAR                                | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | CUSIP: 71568QAK3<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | CORP              | ID        |   3291000 | PA      | $2630472.60   | 0.68%             | 2049-07-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                     | Petroleos Mexicanos                                       | CUSIP: 71654QBR2<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1657000 | PA      | $1303489.66   | 0.34%             | 2045-01-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                     | Petroleos Mexicanos                                       | CUSIP: 71654QCL4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   4191000 | PA      | $3203656.89   | 0.83%             | 2048-02-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                     | Petroleos Mexicanos                                       | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   5982000 | PA      | $5715964.10   | 1.48%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Philippines Government International Bonds              | Philippines Government International Bonds                | CUSIP: 718286CP0<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   5234000 | PA      | $3583069.53   | 0.93%             | 2046-07-06      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| PHOSAGRO(PHOS BOND FUND)                                | PHOSAGRO BOND FUNDING DAC                                 | CUSIP: 71922LAD1<br>LEI: 635400F8A3KGJIIBIK95 | Long             | DBT              | CORP              | IE        |   2128000 | PA      | $1469298.24   | 0.38%             | 2028-09-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds       | Republic of Poland Government International Bonds         | CUSIP: 731011AV4<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |   1700000 | PA      | $1696944.08   | 0.44%             | 2033-10-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds       | Republic of Poland Government International Bonds         | CUSIP: 731011AY8<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |   3384000 | PA      | $3398295.89   | 0.88%             | 2034-09-18      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds       | Republic of Poland Government International Bonds         | CUSIP: 731011AZ5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |   1919000 | PA      | $1768459.33   | 0.46%             | 2054-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                                    | Raizen Fuels Finance SA                                   | CUSIP: 75102XAF3<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    726000 | PA      | $403605.43    | 0.10%             | 2032-07-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                                | Uruguay Government International Bond                     | CUSIP: 760942AY8<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   1077570 | PA      | $914956.21    | 0.24%             | 2045-11-20      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                            | Oriental Republic of Uruguay                              | CUSIP: 760942BG6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   2907578 | PA      | $2633146.42   | 0.68%             | 2060-09-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                 | Romanian Government International Bond                    | CUSIP: 77586RAW0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1636000 | PA      | $1725320.57   | 0.45%             | 2037-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                | Saudi Government International Bond                       | CUSIP: 80413TBD0<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   1830000 | PA      | $1804642.40   | 0.47%             | 2033-07-18      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                | Saudi Government International Bond                       | CUSIP: 80413TBL2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   5587000 | PA      | $5764218.41   | 1.49%             | 2035-01-13      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                | Saudi Government International Bond                       | CUSIP: 80413TBS7<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   2477000 | PA      | $2355735.34   | 0.61%             | 2056-01-12      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SISECAM UK PLC                                          | Sisecam UK PLC                                            | CUSIP: 829688AB6<br>LEI: 789000T82YRLMLUOC889 | Long             | DBT              | CORP              | GB        |   3154000 | PA      | $3179517.02   | 0.82%             | 2032-05-02      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds   | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   3900000 | PA      | $3009886.82   | 0.78%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds   | CUSIP: 836205BE3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   2592000 | PA      | $2394025.65   | 0.62%             | 2052-04-20      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                | Republic of South Africa Government International Bond    | CUSIP: 836205BG8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   1262000 | PA      | $1250747.01   | 0.32%             | 2054-11-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                | Republic of South Africa Government International Bond    | CUSIP: 836205BJ2<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    610000 | PA      | $557034.81    | 0.14%             | 2055-12-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                  | Turkiye Government International Bonds                    | CUSIP: 900123CJ7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   3300000 | PA      | $3299606.97   | 0.85%             | 2026-04-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                  | Turkiye Government International Bonds                    | CUSIP: 900123CM0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    500000 | PA      | $373691.30    | 0.10%             | 2047-05-11      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                  | Turkiye Government International Bonds                    | CUSIP: 900123CP3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   8000000 | PA      | $7884220.18   | 2.04%             | 2028-02-17      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                  | Turkiye Government International Bonds                    | CUSIP: 900123CT5<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1885000 | PA      | $1946330.77   | 0.50%             | 2029-04-26      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                  | Turkiye Government International Bonds                    | CUSIP: 900123CY4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   4749000 | PA      | $4533614.75   | 1.17%             | 2030-03-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                  | Turkiye Government International Bonds                    | CUSIP: 900123DH0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1600000 | PA      | $1725136.03   | 0.45%             | 2029-03-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                  | Turkiye Government International Bonds                    | CUSIP: 900123DK3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   4335000 | PA      | $4401271.40   | 1.14%             | 2034-05-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                                     | Turkiye Government International Bond                     | CUSIP: 900123DN7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1000000 | PA      | $938823.97    | 0.24%             | 2035-01-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                     | CUSIP: 903724CA8<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |   1575787 | PA      | $844417.18    | 0.22%             | 2034-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                     | CUSIP: 903724CB6<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |   4480482 | PA      | $2354118.93   | 0.61%             | 2035-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                     | CUSIP: 903724CH3<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |   2948000 | PA      | $2128446.77   | 0.55%             | 2032-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                   | Mexico Government International Bonds                     | CUSIP: 91087BAR1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  12841000 | PA      | $10888988.49  | 2.82%             | 2034-02-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                   | Mexico Government International Bonds                     | CUSIP: 91087BBA7<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   4493000 | PA      | $4190585.19   | 1.09%             | 2054-05-07      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                   | Mexico Government International Bond                      | CUSIP: 91087BBR0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1119000 | PA      | $1092204.99   | 0.28%             | 2038-02-09      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                                      | Zambia Government International Bond                      | CUSIP: 988895AQ1<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |   1574988 | PA      | $1474844.61   | 0.38%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE                                        | DP World Ltd/United Arab Emirates                         | CUSIP: 000000000<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | NUSS              | AE        |   5900000 | PA      | $6229031.94   | 1.61%             | 2037-07-02      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                 | Mexican Bonos                                             | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  15000000 | PA      | $836673.12    | 0.22%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                       | Lebanon Government International Bond                     | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   2096000 | PA      | $491925.76    | 0.13%             | 2028-03-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Egypt Government International Bonds                    | Egypt Government International Bonds                      | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   1491000 | PA      | $1208793.10   | 0.31%             | 2048-02-21      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                       | Lebanon Government International Bond                     | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   2097000 | PA      | $500120.28    | 0.13%             | 2034-05-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Dominican Republic International Bonds                  | Dominican Republic International Bonds                    | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1550000 | PA      | $1432534.58   | 0.37%             | 2049-06-05      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| GAZPROM PJSC (GAZ FN)                                   | Gazprom PJSC via Gaz Finance PLC                          | CUSIP: 000000000<br>LEI: 213800UNP9N6BPNYMQ45 | Long             | DBT              | NUSS              | GB        |   2254000 | PA      | $1531810.79   | 0.40%             | 2030-02-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                      | Dominican Republic International Bond                     | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1487000 | PA      | $1369737.49   | 0.35%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Egypt Government International Bonds                    | Egypt Government International Bonds                      | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   5440000 | PA      | $4120243.90   | 1.07%             | 2061-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                                | Comision Federal de Electricidad                          | CUSIP: 200447AK6<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | NUSS              | MX        |   4200000 | PA      | $3595012.28   | 0.93%             | 2033-07-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Nigeria Government International Bonds                  | Nigeria Government International Bonds                    | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   2796000 | PA      | $2727308.71   | 0.71%             | 2033-09-28      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Angola Government International Bonds                   | Angola Government International Bonds                     | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    846000 | PA      | $821739.64    | 0.21%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Ivory Coast Government International Bonds              | Ivory Coast Government International Bonds                | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   2706000 | PA      | $2771126.85   | 0.72%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Adnoc Murban Rsc Ltd.                                   | Adnoc Murban Rsc Ltd.                                     | CUSIP: 000000000<br>LEI: 213800OWGH7RAYG61M70 | Long             | DBT              | NUSS              | AE        |   2000000 | PA      | $1890768.33   | 0.49%             | 2034-09-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                                    | Country Garden Holdings Co Ltd                            | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |   2657509 | PA      | $295603.40    | 0.08%             | 2031-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                                    | Country Garden Holdings Co Ltd                            | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |   1282744 | PA      | $174503.28    | 0.05%             | 2032-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                   | Mexico Government International Bond                      | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    694000 | PA      | $776013.99    | 0.20%             | 2040-05-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Corp. Nacional del Cobre de Chile                       | Corp. Nacional del Cobre de Chile                         | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | NUSS              | CL        |   5700000 | PA      | $4500577.54   | 1.17%             | 2047-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO                                 | KazMunayGas National Co JSC                               | CUSIP: 000000000<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |   2598000 | PA      | $2416897.26   | 0.63%             | 2047-04-19      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                     | Nigeria Government International Bond                     | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   1739000 | PA      | $1584319.42   | 0.41%             | 2047-11-28      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                 | Romanian Government International Bond                    | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1966000 | PA      | $1538672.54   | 0.40%             | 2048-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LTD                                   | DP World Crescent Ltd.                                    | CUSIP: 000000000<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | NUSS              | KY        |   2000000 | PA      | $1975168.17   | 0.51%             | 2028-09-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                                 | Pakistan Government International Bonds                   | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |   1400000 | PA      | $1378959.40   | 0.36%             | 2027-12-05      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                                  | Oman Government International Bond                        | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |   4233000 | PA      | $4408388.38   | 1.14%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DP WORLD PLC                                            | DP World Ltd/United Arab Emirates                         | CUSIP: 000000000<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | NUSS              | AE        |   1291000 | PA      | $1153338.59   | 0.30%             | 2048-09-25      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                      | Angola Government International Bonds                     | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   2536000 | PA      | $2245530.07   | 0.58%             | 2048-05-08      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                     | Braskem Netherlands Finance BV                            | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |   5091000 | PA      | $2377908.84   | 0.62%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Guatemala Government Bonds                              | Guatemala Government Bonds                                | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    489000 | PA      | $465955.05    | 0.12%             | 2050-06-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                | Brazil Notas do Tesouro Nacional Serie F                  | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   5897000 | PA      | $1022992.36   | 0.26%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                | OCP SA                                                    | CUSIP: 000000000<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | NUSS              | MA        |   3071000 | PA      | $2388067.56   | 0.62%             | 2051-06-23      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| KSA Sukuk Ltd.                                          | KSA Sukuk Ltd.                                            | CUSIP: 000000000<br>LEI: 635400XBJFPNCGN9CK71 | Long             | DBT              | NUSS              | KY        |   1000000 | PA      | $939774.30    | 0.24%             | 2029-10-29      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| GENM CAPITAL LABUAN                                     | GENM Capital Labuan Ltd                                   | CUSIP: 000000000<br>LEI: 254900DWSHIWTSE0YG58 | Long             | DBT              | CORP              | MY        |   2210000 | PA      | $1966458.00   | 0.51%             | 2031-04-19      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LG CHEM LTD                                             | LG Chem Ltd                                               | CUSIP: 000000000<br>LEI: 988400IES4EIG7O06940 | Long             | DBT              | CORP              | KR        |   1536000 | PA      | $1522719.95   | 0.39%             | 2026-07-07      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Saudi Government International Bonds                    | Saudi Government International Bonds                      | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   1900000 | PA      | $1775328.75   | 0.46%             | 2030-10-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                     | Ecuador Government International Bond                     | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |   1304312 | PA      | $1148231.88   | 0.30%             | 2035-07-31      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                     | Ecuador Government International Bond                     | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |   2485221 | PA      | $1940920.58   | 0.50%             | 2040-07-31      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| OQ SAOC                                                 | OQ SAOC                                                   | CUSIP: 000000000<br>LEI: 549300YK417GKI6EQ392 | Long             | DBT              | NUSS              | OM        |   1964000 | PA      | $1957037.92   | 0.51%             | 2028-05-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| EIG PEARL HOLDINGS SARL                                 | EIG Pearl Holdings Sarl                                   | CUSIP: 000000000<br>LEI: 549300KIMRL45BWA5H76 | Long             | DBT              | CORP              | LU        |   2376294 | PA      | $2121208.29   | 0.55%             | 2036-08-31      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                 | Hungary Government International Bond                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1930000 | PA      | $1141217.55   | 0.30%             | 2051-09-21      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                                | Petroleos de Venezuela SA                                 | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | NUSS              | VE        |  12559928 | PA      | $4352471.63   | 1.13%             | 2024-05-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                 | Romanian Government International Bond                    | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   6766000 | PA      | $5927024.17   | 1.54%             | 2032-03-27      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                 | Hungary Government International Bond                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   5637000 | PA      | $4774429.53   | 1.24%             | 2031-09-22      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                     | Nigeria Government International Bond                     | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   1600000 | PA      | $1583948.58   | 0.41%             | 2028-09-28      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                 | Hungary Government International Bond                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1330000 | PA      | $1384509.58   | 0.36%             | 2032-09-22      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                                | Development Bank of Kazakhstan JSC                        | CUSIP: 000000000<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |   1898000 | PA      | $1905782.23   | 0.49%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                       | Lebanon Government International Bond                     | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   2097000 | PA      | $496937.80    | 0.13%             | 2021-04-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ABU DHABI FUTURE ENERGY                                 | Abu Dhabi Future Energy Co Pjsc Masdar                    | CUSIP: 000000000<br>LEI: 213800BBECR1I9FTPZ70 | Long             | DBT              | NUSS              | AE        |   2500000 | PA      | $2466845.80   | 0.64%             | 2034-07-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                   | Sri Lanka Government International Bond                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    419659 | PA      | $399555.09    | 0.10%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                   | Sri Lanka Government International Bond                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    429898 | PA      | $394790.00    | 0.10%             | 2030-01-15      | Floating      | 3.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                   | Sri Lanka Government International Bond                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    843238 | PA      | $702990.97    | 0.18%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                   | Sri Lanka Government International Bond                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    569380 | PA      | $428910.86    | 0.11%             | 2035-06-15      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                   | Sri Lanka Government International Bond                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    395163 | PA      | $349473.34    | 0.09%             | 2036-05-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                   | Sri Lanka Government International Bond                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    790658 | PA      | $703984.85    | 0.18%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                                      | Zambia Government International Bond                      | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |   1617939 | PA      | $1056121.42   | 0.27%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                     | Petroleos Mexicanos                                       | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   4700000 | PA      | $261347.31    | 0.07%             | 2026-11-12      | Fixed         | 7.47%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                             | Ivory Coast Government International Bond                 | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   1667500 | PA      | $1676590.69   | 0.43%             | 2028-03-03      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                             | Ivory Coast Government International Bond                 | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   2030000 | PA      | $1904485.85   | 0.49%             | 2033-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                       | Lebanon Government International Bond                     | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   1790000 | PA      | $419418.63    | 0.11%             | 2024-11-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                          | US DOLLARS                                                | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              |  | XX        |         1 | NC      | $10872.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank Co. Ltd.                                      | US DOLLARS                                                | CUSIP: 000000000<br>LEI: 2HI3YI5320L3RW6NJ957 | N/A              | DFE              |  | MX        |         1 | NC      | $10169.59     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                                   | Venezuela Government International Bond                   | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |   4300000 | PA      | $1828556.60   | 0.47%             | 2024-10-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

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

**Signature:** Jennifer Borges

**Name of Signer:** Jennifer Borges

**Title:** Senior Manager