# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001193125-25-298515
**Filing Date:** 2025-11
**Character Count:** 77836
**Document Hash:** ab10d15ea1e363e97b023bf4ae369f2f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-298515.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001193125-25-298515

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22127
- **FILM NUMBER:** 251524089

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

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

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

## Series and Classes Contracts Data

### Variable Portfolio - Partners International Value Fund (Series ID: S000028708)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000087834 | Variable Portfolio - Partners International Value Fund Class 1 |  |
| C000087835 | Variable Portfolio - Partners International Value Fund Class 2 |  |

## Nport-Ex

![](imgbba7369d1.jpg)

Variable Portfolio – Partners International Value Fund

**Third Quarter Report**

September 30, 2025 (Unaudited)

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

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

---

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

---

------

Portfolio of Investments

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

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | |
|:---|:---|:---|
| **Common Stocks 98.0%** | **Common Stocks 98.0%** | **Common Stocks 98.0%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Australia 1.4%** | **Australia 1.4%** | **Australia 1.4%** |
| BHP Group Ltd. | &nbsp;&nbsp; 41100 | &nbsp;&nbsp; 1148137 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 40600 | &nbsp;&nbsp; 5893092 |
| Santos Ltd. | &nbsp;&nbsp; 1398900 | &nbsp;&nbsp; 6212319 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 263100 | &nbsp;&nbsp; 3726518 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 716200 | &nbsp;&nbsp; 3126132 |
| **Total** | **Total** | &nbsp;&nbsp; **20106198** |
| **Belgium 1.0%** | **Belgium 1.0%** | **Belgium 1.0%** |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 101400 | &nbsp;&nbsp; 6061356 |
| KBC Group NV | &nbsp;&nbsp; 66600 | &nbsp;&nbsp; 7981274 |
| **Total** | **Total** | &nbsp;&nbsp; **14042630** |
| **Brazil 1.0%** | **Brazil 1.0%** | **Brazil 1.0%** |
| Ambev SA | &nbsp;&nbsp; 3000100 | &nbsp;&nbsp; 6803740 |
| Banco do Brasil SA | &nbsp;&nbsp; 1854300 | &nbsp;&nbsp; 7664916 |
| **Total** | **Total** | &nbsp;&nbsp; **14468656** |
| **Canada 1.3%** | **Canada 1.3%** | **Canada 1.3%** |
| Canadian National Railway Co. | &nbsp;&nbsp; 39400 | &nbsp;&nbsp; 3715496 |
| CCL Industries, Inc., Class B | &nbsp;&nbsp; 55900 | &nbsp;&nbsp; 3150676 |
| Magna International, Inc. | &nbsp;&nbsp; 237496 | &nbsp;&nbsp; 11252775 |
| **Total** | **Total** | &nbsp;&nbsp; **18118947** |
| **China 4.7%** | **China 4.7%** | **China 4.7%** |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 849200 | &nbsp;&nbsp; 18991608 |
| China Merchants Bank Co., Ltd., Class H | &nbsp;&nbsp; 1647500 | &nbsp;&nbsp; 9860248 |
| China Overseas Land & Investment Ltd. | &nbsp;&nbsp; 8645343 | &nbsp;&nbsp; 15921972 |
| Haier Smart Home Co., Ltd., Class H | &nbsp;&nbsp; 4784600 | &nbsp;&nbsp; 15522204 |
| SITC International Holdings Co., Ltd. | &nbsp;&nbsp; 270200 | &nbsp;&nbsp; 1040252 |
| Weichai Power Co., Ltd., Class H | &nbsp;&nbsp; 3386000 | &nbsp;&nbsp; 6057441 |
| **Total** | **Total** | &nbsp;&nbsp; **67393725** |
| **Denmark 1.3%** | **Denmark 1.3%** | **Denmark 1.3%** |
| Danske Bank A/S | &nbsp;&nbsp; 345981 | &nbsp;&nbsp; 14778431 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 45800 | &nbsp;&nbsp; 2550220 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 37000 | &nbsp;&nbsp; 1379412 |
| **Total** | **Total** | &nbsp;&nbsp; **18708063** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Finland 0.4%** | **Finland 0.4%** | **Finland 0.4%** |
| Nokia OYJ | &nbsp;&nbsp; 790324 | &nbsp;&nbsp; 3800510 |
| Nokia OYJ, ADR | &nbsp;&nbsp; 526359 | &nbsp;&nbsp; 2531787 |
| **Total** | **Total** | &nbsp;&nbsp; **6332297** |
| **France 11.8%** | **France 11.8%** | **France 11.8%** |
| Accor SA | &nbsp;&nbsp; 227040 | &nbsp;&nbsp; 10786760 |
| Amundi SA | &nbsp;&nbsp; 239637 | &nbsp;&nbsp; 19045046 |
| Arkema SA | &nbsp;&nbsp; 171848 | &nbsp;&nbsp; 10896544 |
| Capgemini SE | &nbsp;&nbsp; 50200 | &nbsp;&nbsp; 7323045 |
| Cie de Saint-Gobain SA | &nbsp;&nbsp; 52400 | &nbsp;&nbsp; 5677622 |
| Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 517609 | &nbsp;&nbsp; 18641031 |
| Edenred SE | &nbsp;&nbsp; 163600 | &nbsp;&nbsp; 3896087 |
| La Francaise des Jeux SAEM | &nbsp;&nbsp; 41200 | &nbsp;&nbsp; 1381525 |
| Rexel SA | &nbsp;&nbsp; 497027 | &nbsp;&nbsp; 16363738 |
| Sanofi SA | &nbsp;&nbsp; 230011 | &nbsp;&nbsp; 21780640 |
| Societe Generale SA | &nbsp;&nbsp; 206100 | &nbsp;&nbsp; 13721380 |
| Sodexo SA | &nbsp;&nbsp; 63004 | &nbsp;&nbsp; 3975189 |
| Teleperformance SE | &nbsp;&nbsp; 237059 | &nbsp;&nbsp; 17706744 |
| TotalEnergies SE | &nbsp;&nbsp; 108600 | &nbsp;&nbsp; 6614678 |
| Veolia Environnement SA | &nbsp;&nbsp; 368740 | &nbsp;&nbsp; 12574771 |
| **Total** | **Total** | &nbsp;&nbsp; **170384800** |
| **Germany 11.4%** | **Germany 11.4%** | **Germany 11.4%** |
| Allianz SE, Registered Shares | &nbsp;&nbsp; 15100 | &nbsp;&nbsp; 6352972 |
| Aumovio SE<sup>(a)</sup> <br>| &nbsp;&nbsp; 78924 | &nbsp;&nbsp; 3254245 |
| BASF SE | &nbsp;&nbsp; 399224 | &nbsp;&nbsp; 19946927 |
| Bayer AG, Registered Shares | &nbsp;&nbsp; 330469 | &nbsp;&nbsp; 11001694 |
| Continental AG | &nbsp;&nbsp; 157849 | &nbsp;&nbsp; 10442658 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 24200 | &nbsp;&nbsp; 2375822 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 435136 | &nbsp;&nbsp; 17993535 |
| Deutsche Boerse AG | &nbsp;&nbsp; 20200 | &nbsp;&nbsp; 5409381 |
| Deutsche Post AG | &nbsp;&nbsp; 136811 | &nbsp;&nbsp; 6113721 |
| Evonik Industries AG | &nbsp;&nbsp; 445158 | &nbsp;&nbsp; 7740889 |
| Fresenius Medical Care AG | &nbsp;&nbsp; 240660 | &nbsp;&nbsp; 12715888 |
| Heidelberg Materials AG | &nbsp;&nbsp; 40600 | &nbsp;&nbsp; 9177456 |
| Infineon Technologies AG | &nbsp;&nbsp; 178100 | &nbsp;&nbsp; 6986894 |
| Mercedes-Benz Group AG, Registered Shares | &nbsp;&nbsp; 132639 | &nbsp;&nbsp; 8360236 |
| Merck KGaA | &nbsp;&nbsp; 50600 | &nbsp;&nbsp; 6565082 |

---

Variable Portfolio – Partners International Value Fund \| 2025

------

Portfolio of Investments (continued)

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

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| SAP SE | &nbsp;&nbsp; 48100 | &nbsp;&nbsp; 12879604 |
| Siemens AG, Registered Shares | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 10799121 |
| Zalando SE<sup>(a)</sup> <br>| &nbsp;&nbsp; 203300 | &nbsp;&nbsp; 6238916 |
| **Total** | **Total** | &nbsp;&nbsp; **164355041** |
| **Hong Kong 2.5%** | **Hong Kong 2.5%** | **Hong Kong 2.5%** |
| AIA Group Ltd. | &nbsp;&nbsp; 850100 | &nbsp;&nbsp; 8147329 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 756900 | &nbsp;&nbsp; 3665746 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 1394100 | &nbsp;&nbsp; 9159213 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 2631000 | &nbsp;&nbsp; 14466182 |
| **Total** | **Total** | &nbsp;&nbsp; **35438470** |
| **Indonesia 0.3%** | **Indonesia 0.3%** | **Indonesia 0.3%** |
| PT Bank Rakyat Indonesia Persero Tbk | &nbsp;&nbsp; 20766700 | &nbsp;&nbsp; 4867351 |
| **Ireland 3.0%** | **Ireland 3.0%** | **Ireland 3.0%** |
| AerCap Holdings NV | &nbsp;&nbsp; 74300 | &nbsp;&nbsp; 8990300 |
| AIB Group PLC | &nbsp;&nbsp; 1023200 | &nbsp;&nbsp; 9328251 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 885977 | &nbsp;&nbsp; 14669403 |
| Ryanair Holdings PLC | &nbsp;&nbsp; 109600 | &nbsp;&nbsp; 3202777 |
| Smurfit WestRock PLC | &nbsp;&nbsp; 153800 | &nbsp;&nbsp; 6547266 |
| **Total** | **Total** | &nbsp;&nbsp; **42737997** |
| **Israel 0.4%** | **Israel 0.4%** | **Israel 0.4%** |
| Check Point Software Technologies Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 27100 | &nbsp;&nbsp; 5607261 |
| **Italy 0.9%** | **Italy 0.9%** | **Italy 0.9%** |
| Enel SpA | &nbsp;&nbsp; 1440497 | &nbsp;&nbsp; 13650928 |
| **Japan 18.8%** | **Japan 18.8%** | **Japan 18.8%** |
| Bridgestone Corp. | &nbsp;&nbsp; 163300 | &nbsp;&nbsp; 7547427 |
| Canon, Inc. | &nbsp;&nbsp; 143200 | &nbsp;&nbsp; 4179019 |
| Dai Nippon Printing Co., Ltd. | &nbsp;&nbsp; 78700 | &nbsp;&nbsp; 1338273 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 141300 | &nbsp;&nbsp; 16286537 |
| FANUC Corp. | &nbsp;&nbsp; 158600 | &nbsp;&nbsp; 4557681 |
| Fujitsu Ltd. | &nbsp;&nbsp; 418900 | &nbsp;&nbsp; 9826696 |
| Fukuoka Financial Group, Inc. | &nbsp;&nbsp; 195800 | &nbsp;&nbsp; 5856109 |
| Hitachi Ltd. | &nbsp;&nbsp; 463200 | &nbsp;&nbsp; 12271589 |
| Iida Group Holdings Co., Ltd. | &nbsp;&nbsp; 219400 | &nbsp;&nbsp; 3498998 |
| Komatsu Ltd. | &nbsp;&nbsp; 427200 | &nbsp;&nbsp; 14882456 |
| Kyocera Corp. | &nbsp;&nbsp; 410800 | &nbsp;&nbsp; 5518562 |
| MinebeaMitsumi, Inc. | &nbsp;&nbsp; 752500 | &nbsp;&nbsp; 14140066 |
| Murata Manufacturing Co., Ltd. | &nbsp;&nbsp; 944600 | &nbsp;&nbsp; 17932340 |
| Nintendo Co., Ltd. | &nbsp;&nbsp; 43200 | &nbsp;&nbsp; 3737632 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Olympus Corp. | &nbsp;&nbsp; 1372700 | &nbsp;&nbsp; 17355073 |
| ORIX Corp. | &nbsp;&nbsp; 408800 | &nbsp;&nbsp; 10729361 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 500800 | &nbsp;&nbsp; 5435733 |
| Rakuten Group, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 914900 | &nbsp;&nbsp; 5932819 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 355200 | &nbsp;&nbsp; 4086645 |
| Resona Holdings, Inc. | &nbsp;&nbsp; 720150 | &nbsp;&nbsp; 7343584 |
| SBI Holdings, Inc. | &nbsp;&nbsp; 214000 | &nbsp;&nbsp; 9317020 |
| Seven & I Holdings Co., Ltd. | &nbsp;&nbsp; 671400 | &nbsp;&nbsp; 9009127 |
| Sony Financial Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 598200 | &nbsp;&nbsp; 663386 |
| Sony Group Corp. | &nbsp;&nbsp; 598200 | &nbsp;&nbsp; 17196277 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp; 622900 | &nbsp;&nbsp; 17523968 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 409200 | &nbsp;&nbsp; 12789106 |
| Takeda Pharmaceutical Co., Ltd. | &nbsp;&nbsp; 221700 | &nbsp;&nbsp; 6511416 |
| TDK Corp. | &nbsp;&nbsp; 1255100 | &nbsp;&nbsp; 18174857 |
| Toray Industries, Inc. | &nbsp;&nbsp; 497000 | &nbsp;&nbsp; 3170744 |
| Toyota Industries Corp. | &nbsp;&nbsp; 29000 | &nbsp;&nbsp; 3261586 |
| **Total** | **Total** | &nbsp;&nbsp; **270074087** |
| **Luxembourg 1.8%** | **Luxembourg 1.8%** | **Luxembourg 1.8%** |
| ArcelorMittal SA | &nbsp;&nbsp; 544356 | &nbsp;&nbsp; 19638141 |
| Eurofins Scientific SE | &nbsp;&nbsp; 84100 | &nbsp;&nbsp; 6133109 |
| **Total** | **Total** | &nbsp;&nbsp; **25771250** |
| **Netherlands 6.9%** | **Netherlands 6.9%** | **Netherlands 6.9%** |
| ASML Holding NV | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 14627806 |
| EXOR NV | &nbsp;&nbsp; 20500 | &nbsp;&nbsp; 2006452 |
| Heineken Holding NV | &nbsp;&nbsp; 69720 | &nbsp;&nbsp; 4787193 |
| ING Groep NV | &nbsp;&nbsp; 870720 | &nbsp;&nbsp; 22826583 |
| Koninklijke Philips NV | &nbsp;&nbsp; 449271 | &nbsp;&nbsp; 12307359 |
| Prosus NV, Class N<sup>(a)</sup> <br>| &nbsp;&nbsp; 128700 | &nbsp;&nbsp; 9101027 |
| Randstad NV | &nbsp;&nbsp; 304668 | &nbsp;&nbsp; 12990817 |
| Shell PLC | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 7841029 |
| Shell PLC, ADR | &nbsp;&nbsp; 185989 | &nbsp;&nbsp; 13303793 |
| **Total** | **Total** | &nbsp;&nbsp; **99792059** |
| **Norway 2.3%** | **Norway 2.3%** | **Norway 2.3%** |
| Aker BP ASA | &nbsp;&nbsp; 192504 | &nbsp;&nbsp; 4885624 |
| DNB Bank ASA | &nbsp;&nbsp; 369200 | &nbsp;&nbsp; 10062915 |
| Equinor ASA | &nbsp;&nbsp; 740067 | &nbsp;&nbsp; 18047362 |
| **Total** | **Total** | &nbsp;&nbsp; **32995901** |

---

Variable Portfolio – Partners International Value Fund \| 2025

------

Portfolio of Investments (continued)

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

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Singapore 0.8%** | **Singapore 0.8%** | **Singapore 0.8%** |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 308860 | &nbsp;&nbsp; 12248710 |
| **South Korea 3.5%** | **South Korea 3.5%** | **South Korea 3.5%** |
| Samsung Electronics Co., Ltd. | &nbsp;&nbsp; 620366 | &nbsp;&nbsp; 37191145 |
| Shinhan Financial Group Co., Ltd. | &nbsp;&nbsp; 256090 | &nbsp;&nbsp; 12911535 |
| **Total** | **Total** | &nbsp;&nbsp; **50102680** |
| **Spain 0.3%** | **Spain 0.3%** | **Spain 0.3%** |
| CaixaBank SA | &nbsp;&nbsp; 370532 | &nbsp;&nbsp; 3913528 |
| **Sweden 1.3%** | **Sweden 1.3%** | **Sweden 1.3%** |
| Boliden AB<sup>(a)</sup> <br>| &nbsp;&nbsp; 91400 | &nbsp;&nbsp; 3730799 |
| Essity AB, Class B | &nbsp;&nbsp; 239400 | &nbsp;&nbsp; 6257707 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 418300 | &nbsp;&nbsp; 8201839 |
| **Total** | **Total** | &nbsp;&nbsp; **18190345** |
| **Switzerland 6.1%** | **Switzerland 6.1%** | **Switzerland 6.1%** |
| &nbsp;&nbsp; Cie Financiere Richemont SA, Class A, Registered <br> Shares<br>| &nbsp;&nbsp; 32300 | &nbsp;&nbsp; 6200515 |
| Glencore PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 1153400 | &nbsp;&nbsp; 5312131 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 268134 | &nbsp;&nbsp; 18670832 |
| Nestlé SA, Registered Shares | &nbsp;&nbsp; 103500 | &nbsp;&nbsp; 9504948 |
| Novartis AG, Registered Shares | &nbsp;&nbsp; 49900 | &nbsp;&nbsp; 6416062 |
| Roche Holding AG, Genusschein Shares | &nbsp;&nbsp; 77291 | &nbsp;&nbsp; 25736633 |
| UBS AG | &nbsp;&nbsp; 377864 | &nbsp;&nbsp; 15535331 |
| **Total** | **Total** | &nbsp;&nbsp; **87376452** |
| **United Kingdom 11.8%** | **United Kingdom 11.8%** | **United Kingdom 11.8%** |
| Ashtead Group PLC | &nbsp;&nbsp; 74800 | &nbsp;&nbsp; 5016193 |
| Aviva PLC | &nbsp;&nbsp; 658144 | &nbsp;&nbsp; 6088358 |
| Barclays Bank PLC | &nbsp;&nbsp; 1679713 | &nbsp;&nbsp; 8642670 |
| Barratt Redrow PLC | &nbsp;&nbsp; 573400 | &nbsp;&nbsp; 3016751 |
| BP PLC | &nbsp;&nbsp; 1499500 | &nbsp;&nbsp; 8609608 |
| Bunzl PLC | &nbsp;&nbsp; 82100 | &nbsp;&nbsp; 2594952 |
| CNH Industrial NV | &nbsp;&nbsp; 61200 | &nbsp;&nbsp; 664020 |
| DCC PLC | &nbsp;&nbsp; 101994 | &nbsp;&nbsp; 6565551 |
| HSBC Holdings PLC | &nbsp;&nbsp; 1163372 | &nbsp;&nbsp; 16418808 |
| Inchcape PLC | &nbsp;&nbsp; 420200 | &nbsp;&nbsp; 3915035 |
| Informa PLC | &nbsp;&nbsp; 265500 | &nbsp;&nbsp; 3288562 |
| J. Sainsbury PLC | &nbsp;&nbsp; 3616092 | &nbsp;&nbsp; 16258764 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Kingfisher PLC | &nbsp;&nbsp; 771200 | &nbsp;&nbsp; 3212641 |
| Legal & General Group PLC | &nbsp;&nbsp; 1447600 | &nbsp;&nbsp; 4649569 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 10792800 | &nbsp;&nbsp; 12212975 |
| Pearson PLC | &nbsp;&nbsp; 292800 | &nbsp;&nbsp; 4163930 |
| Persimmon PLC | &nbsp;&nbsp; 177200 | &nbsp;&nbsp; 2768318 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 353915 | &nbsp;&nbsp; 27252171 |
| Smith & Nephew PLC | &nbsp;&nbsp; 249500 | &nbsp;&nbsp; 4525269 |
| Standard Chartered PLC | &nbsp;&nbsp; 199289 | &nbsp;&nbsp; 3867714 |
| Tesco PLC | &nbsp;&nbsp; 2480852 | &nbsp;&nbsp; 14869460 |
| Travis Perkins PLC | &nbsp;&nbsp; 341791 | &nbsp;&nbsp; 2812898 |
| Unilever PLC | &nbsp;&nbsp; 98500 | &nbsp;&nbsp; 5822202 |
| Wise PLC, Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 198400 | &nbsp;&nbsp; 2765758 |
| **Total** | **Total** | &nbsp;&nbsp; **170002177** |
| **United States 3.0%** | **United States 3.0%** | **United States 3.0%** |
| GSK PLC | &nbsp;&nbsp; 1047975 | &nbsp;&nbsp; 22502098 |
| Linde PLC | &nbsp;&nbsp; 9600 | &nbsp;&nbsp; 4560000 |
| Medtronic PLC | &nbsp;&nbsp; 119635 | &nbsp;&nbsp; 11394037 |
| Tenaris SA | &nbsp;&nbsp; 260300 | &nbsp;&nbsp; 4664085 |
| **Total** | **Total** | &nbsp;&nbsp; **43120220** |
| &nbsp;&nbsp; Total Common Stocks <br>(Cost $1,159,461,651) | &nbsp;&nbsp; Total Common Stocks <br>(Cost $1,159,461,651) | &nbsp;&nbsp; **1409799773** |

---

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

---

| | | |
|:---|:---|:---|
| **Preferred Stocks 0.3%** | **Preferred Stocks 0.3%** | **Preferred Stocks 0.3%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Germany 0.3%** | **Germany 0.3%** | **Germany 0.3%** |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 58000 | &nbsp;&nbsp; 4679807 |
| &nbsp;&nbsp; Total Preferred Stocks <br>(Cost $4,531,356) | &nbsp;&nbsp; Total Preferred Stocks <br>(Cost $4,531,356) | &nbsp;&nbsp; **4679807** |

---

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

---

| | | |
|:---|:---|:---|
| **Money Market Funds 0.9%** | **Money Market Funds 0.9%** | **Money Market Funds 0.9%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 4.265%<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 13023861 | &nbsp;&nbsp; 13019954 |
| &nbsp;&nbsp; Total Money Market Funds <br>(Cost $13,019,280) | &nbsp;&nbsp; Total Money Market Funds <br>(Cost $13,019,280) | &nbsp;&nbsp; **13019954** |
| **Total Investments in Securities** <br>**(Cost $1,177,012,287)** | **Total Investments in Securities** <br>**(Cost $1,177,012,287)** | &nbsp;&nbsp; **1427499534** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **10798839** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$1438298373** |

---

Variable Portfolio – Partners International Value Fund \| 2025

------

Portfolio of Investments (continued)

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

**Notes to Portfolio of Investments** 

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the
 holdings and transactions in these affiliated companies during the period ended September 30, 2025 are as follows:

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends($)** | **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% | Columbia Short-Term Cash Fund, 4.265% |
|  | 6044281 | &nbsp;&nbsp; 177661702 | &nbsp;&nbsp; (170686729)<br>| &nbsp;&nbsp; 700 | &nbsp;&nbsp; 13019954 | &nbsp;&nbsp; (2660)<br>| &nbsp;&nbsp; 312618 | &nbsp;&nbsp; 13023861 |

---

**Abbreviation Legend** 

ADR American Depositary Receipt

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

Variable Portfolio – Partners International Value Fund \| 2025

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

3QT7056_12_D01_(11/25)

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

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

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

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

- **b. EDGAR series identifier (if any):** S000028708

- **c. LEI of Series:** BG0TCP4ZOOXFPMNV7023

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1441285352.67

**Total Liabilities:** $2969171.23

**Net Assets:** $1438316181.44

**Cash Not Reported:** $78487.11

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000087834 | -1.34%               | 3.90%                | 2.61%                |
| Class ID C000087835 | -1.43%               | 3.92%                | 2.54%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $543079.82               | $-20005983.48                              |
| Month 2  | $7574322.17              | $43747560.68                               |
| Month 3  | $9957697.08              | $23683280.76                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                               | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BANK OF IRELAND GROUP PLC                          | Bank of Ireland Group PLC                    | CUSIP: 000000000<br>LEI: 635400C8EK6DRI12LJ39 | Long             | EC               | CORP              | IE        |    885977 | NS      | $14669403.26  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB GROUP PLC                                      | AIB Group PLC                                | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | EC               | CORP              | IE        |   1023200 | NS      | $9328250.88   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| ESSITY AB (PUBL)                                   | Essity AB                                    | CUSIP: 000000000<br>LEI: 549300G8E6YUVJ1DA153 | Long             | EC               | CORP              | SE        |    239400 | NS      | $6257707.56   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| IIDA GROUP HOLDINGS CO LTD                         | Iida Group Holdings Co Ltd                   | CUSIP: 000000000<br>LEI: 35380051BV8PV1I4S949 | Long             | EC               | CORP              | JP        |    219400 | NS      | $3498998.18   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| FDJ UNITED                                         | FDJ UNITED                                   | CUSIP: 000000000<br>LEI: 969500R4CLSQFTYYI535 | Long             | EC               | CORP              | FR        |     41200 | NS      | $1381525.02   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| AMBEV SA                                           | Ambev SA                                     | CUSIP: 000000000<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |   3000100 | NS      | $6803740.34   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSUS NV                                          | Prosus NV                                    | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |    128700 | NS      | $9101027.34   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                          | Alibaba Group Holding Ltd                    | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    849200 | NS      | $18991607.69  | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| TRAVIS PERKINS PLC                                 | Travis Perkins PLC                           | CUSIP: 000000000<br>LEI: 2138001I27OUBAF22K83 | Long             | EC               | CORP              | GB        |    341791 | NS      | $2812898.07   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| WISE PLC                                           | Wise PLC                                     | CUSIP: 000000000<br>LEI: 213800LD9XCHIC1C4V71 | Long             | EC               | CORP              | GB        |    198400 | NS      | $2765758.19   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| QINGDAO HAIER CO LTD                               | Haier Smart Home Co Ltd                      | CUSIP: 000000000<br>LEI: 3003002BYTNGNJTWSH07 | Long             | EC               | CORP              | CN        |   4784600 | NS      | $15522203.51  | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| TESCO PLC                                          | Tesco PLC                                    | CUSIP: 000000000<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |   2480852 | NS      | $14869459.71  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| TENARIS S.A.                                       | Tenaris SA                                   | CUSIP: 000000000<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |    260300 | NS      | $4664085.36   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| EXOR NV                                            | EXOR NV                                      | CUSIP: 000000000<br>LEI: 5493002ENHZ6NYET7405 | Long             | EC               | CORP              | NL        |     20500 | NS      | $2006452.18   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Aumovio SE                                         | Aumovio SE                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     78924 | NS      | $3254265.18   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                            | GSK PLC                                      | CUSIP: 000000000<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |   1047975 | NS      | $22502097.66  | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB BANK ASA                                       | DNB Bank ASA                                 | CUSIP: 000000000<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |    362600 | NS      | $9883025.10   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVO NORDISK A/S                                   | Novo Nordisk A/S                             | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     45800 | NS      | $2550220.36   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| SHELL PLC                                          | Shell PLC                                    | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    220000 | NS      | $7841028.56   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK HOLDING AG                           | Daimler Truck Holding AG                     | CUSIP: 000000000<br>LEI: 529900PW78JIYOUBSR24 | Long             | EC               | CORP              | DE        |    435136 | NS      | $17993535.13  | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN SCA | Cie Generale des Etablissements Michelin SCA | CUSIP: 000000000<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |    517609 | NS      | $18641031.45  | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| AVIVA PLC                                          | Aviva PLC                                    | CUSIP: 000000000<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |    658144 | NS      | $6088357.97   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| BOLIDEN AB                                         | Boliden AB                                   | CUSIP: 000000000<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |     91400 | NS      | $3730798.76   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| ZALANDO SE                                         | Zalando SE                                   | CUSIP: 000000000<br>LEI: 529900YRFFGH5AXU4S86 | Long             | EC               | CORP              | DE        |    203300 | NS      | $6238915.72   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCKWOOL A/S                                       | ROCKWOOL A/S                                 | CUSIP: 000000000<br>LEI: 213800QRC7LNX935OZ09 | Long             | EC               | CORP              | DK        |     37000 | NS      | $1379411.41   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS Group AG                                 | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |    377864 | NS      | $15535331.65  | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| CK HUTCHISON HOLDINGS LTD                          | CK Hutchison Holdings Ltd                    | CUSIP: 000000000<br>LEI: 254900Z8HM1VEPOQ2G79 | Long             | EC               | CORP              | KY        |   1394100 | NS      | $9159212.91   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| RYANAIR HOLDINGS PLC                               | Ryanair Holdings PLC                         | CUSIP: 000000000<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |    109600 | NS      | $3202777.00   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ANHEUSER BUSCH INBEV SA                            | Anheuser-Busch InBev SA/NV                   | CUSIP: 000000000<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |    101400 | NS      | $6061356.48   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| CK ASSET HOLDINGS LTD                              | CK Asset Holdings Ltd                        | CUSIP: 000000000<br>LEI: 5299006GJZSGP78B8S35 | Long             | EC               | CORP              | KY        |    756900 | NS      | $3665745.89   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| AMUNDI SA                                          | Amundi SA                                    | CUSIP: 000000000<br>LEI: 96950010FL2T1TJKR531 | Long             | EC               | CORP              | FR        |    239637 | NS      | $19045046.36  | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| ING GROEP NV                                       | ING Groep NV                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |    870720 | NS      | $22826582.85  | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| TOTALENERGIES SE                                   | TotalEnergies SE                             | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    108600 | NS      | $6614677.77   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| TOYOTA INDUSTRIES CORPORATION                      | Toyota Industries Corp                       | CUSIP: 000000000<br>LEI: 35380000WKGEAHEMW830 | Long             | EC               | CORP              | JP        |     29000 | NS      | $3261586.12   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| UNILEVER PLC                                       | Unilever PLC                                 | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     98500 | NS      | $5822201.84   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| VEOLIA ENVIRONNEMENT SA                            | Veolia Environnement SA                      | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Long             | EC               | CORP              | FR        |    368740 | NS      | $12574771.44  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| WEICHAI POWER CO LTD                               | Weichai Power Co Ltd                         | CUSIP: 000000000<br>LEI: 529900OKTPKBG85F9502 | Long             | EC               | CORP              | CN        |   3386000 | NS      | $6057440.63   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| WHITEHAVEN COAL LTD                                | Whitehaven Coal Ltd                          | CUSIP: 000000000<br>LEI: 529900WCZ4I6ZO3RRP86 | Long             | EC               | CORP              | AU        |    716200 | NS      | $3126131.96   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ARCELORMITTAL SA                                   | ArcelorMittal SA                             | CUSIP: 000000000<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |    544356 | NS      | $19638140.72  | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| AKER BP ASA                                        | Aker BP ASA                                  | CUSIP: 000000000<br>LEI: 549300NFTY73920OYK69 | Long             | EC               | CORP              | NO        |    192504 | NS      | $4885624.34   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| REXEL SA                                           | Rexel SA                                     | CUSIP: 000000000<br>LEI: 969500N6AVPA51648T62 | Long             | EC               | CORP              | FR        |    497027 | NS      | $16363738.42  | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| GLENCORE PLC                                       | Glencore PLC                                 | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   1153400 | NS      | $5312130.79   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA GROUP LTD                                      | AIA Group Ltd                                | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    850100 | NS      | $8147329.25   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| EVONIK INDUSTRIES AG                               | Evonik Industries AG                         | CUSIP: 000000000<br>LEI: 41GUOJQTALQHLF39XJ34 | Long             | EC               | CORP              | DE        |    445158 | NS      | $7740889.10   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| SITC INTERNATIONAL HOLDINGS CO LTD                 | SITC International Holdings Co Ltd           | CUSIP: 000000000<br>LEI: 529900JUV4MOM9CE3V12 | Long             | EC               | CORP              | KY        |    270200 | NS      | $1040252.38   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNTORY BEVERAGE & FOOD LTD                        | Suntory Beverage & Food Ltd                  | CUSIP: 000000000<br>LEI: 549300FONLMVK7YYYH41 | Long             | EC               | CORP              | JP        |    409200 | NS      | $12789106.43  | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| LINDE PLC                                          | Linde PLC                                    | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      9600 | NS      | $4560000.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PLC                                      | Medtronic PLC                                | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    119635 | NS      | $11394037.40  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| SMURFIT WESTROCK PLC                               | Smurfit WestRock PLC                         | CUSIP: G8267P108<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |    153100 | NS      | $6517467.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECK POINT SOFTWARE TECH LTD.                     | Check Point Software Technologies Ltd        | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     27100 | NS      | $5607261.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AERCAP HOLDINGS NV                                 | AerCap Holdings NV                           | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |     74300 | NS      | $8990300.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH INDUSTRIAL NV                                  | CNH Industrial NV                            | CUSIP: N20944109<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | NL        |     61200 | NS      | $664020.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                       | Barclays PLC                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |   1679713 | NS      | $8642669.53   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| BARRATT REDROW PLC                                 | Barratt Redrow PLC                           | CUSIP: 000000000<br>LEI: 2138006R85VEOF5YNK29 | Long             | EC               | CORP              | GB        |    573400 | NS      | $3016751.49   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                                            | BASF SE                                      | CUSIP: 000000000<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |    399224 | NS      | $19946927.31  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML HOLDING NV                                    | ASML Holding NV                              | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     15000 | NS      | $14627806.01  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BAYER AG                                           | Bayer AG                                     | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | EC               | CORP              | DE        |    330469 | NS      | $11001693.59  | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP GROUP LTD                                      | BHP Group Ltd                                | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     41100 | NS      | $1148137.64   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| BRIDGESTONE CORP                                   | Bridgestone Corp                             | CUSIP: 000000000<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |    163300 | NS      | $7547426.79   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| BUNZL PLC                                          | Bunzl PLC                                    | CUSIP: 000000000<br>LEI: 213800Q1Q9DV4L78UM09 | Long             | EC               | CORP              | GB        |     82100 | NS      | $2594952.19   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| COMPAGNIE DE SAINT GOBAIN SA                       | Cie de Saint-Gobain SA                       | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |     52400 | NS      | $5677621.98   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| CANADIAN NTL RAIL CO                               | Canadian National Railway Co                 | CUSIP: 000000000<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |     39400 | NS      | $3715496.16   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CANON INC                                          | Canon Inc                                    | CUSIP: 000000000<br>LEI: 529900JH1GSC035SSP77 | Long             | EC               | CORP              | JP        |    143200 | NS      | $4179019.39   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPGEMINI SE                                       | Capgemini SE                                 | CUSIP: 000000000<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |     50200 | NS      | $7323045.05   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| CCL INDS INC                                       | CCL Industries Inc                           | CUSIP: 000000000<br>LEI: 549300TD3EMSRRC0YH75 | Long             | EC               | CORP              | CA        |     55900 | NS      | $3150676.15   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA MERCHANTS BANK CO LTD                        | China Merchants Bank Co Ltd                  | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |   1647500 | NS      | $9860247.96   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA OVERSEAS LAND & INVESTMENT LTD               | China Overseas Land & Investment Ltd         | CUSIP: 000000000<br>LEI: 529900I6W35GYKRIZ151 | Long             | EC               | NUSS              | HK        |   8645343 | NS      | $15921972.32  | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| COMPAGNIE FINANCIERE RICHEMONT SA                  | Cie Financiere Richemont SA                  | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     32300 | NS      | $6200515.09   | 0.43%             |  |  |  | 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        |  13023861 | NS      | $13019954.26  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTINENTAL AG                                     | Continental AG                               | CUSIP: 000000000<br>LEI: 529900A7YD9C0LLXM621 | Long             | EC               | CORP              | DE        |    157849 | NS      | $10442658.42  | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                       | CaixaBank SA                                 | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | EC               | CORP              | ES        |    370532 | NS      | $3913527.80   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS GROUP HOLDINGS LTD                             | DBS Group Holdings Ltd                       | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |    308860 | NS      | $12248710.24  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                    | Danske Bank A/S                              | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EC               | CORP              | DK        |    345981 | NS      | $14778430.91  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BOERSE AG                                 | Deutsche Boerse AG                           | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |     20200 | NS      | $5409380.98   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE POST AG                                   | Deutsche Post AG                             | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |    136811 | NS      | $6113720.52   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| EDENRED                                            | Edenred SE                                   | CUSIP: 000000000<br>LEI: 9695006LOD5B2D7Y0N70 | Long             | EC               | CORP              | FR        |    163600 | NS      | $3896086.87   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEL SPA                                           | Enel SpA                                     | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |   1440497 | NS      | $13650928.36  | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| EUROFINS SCIENTIFIC SE                             | Eurofins Scientific SE                       | CUSIP: 000000000<br>LEI: 529900JEHFM47DYY3S57 | Long             | EC               | CORP              | LU        |     84100 | NS      | $6133109.14   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| FANUC CORP                                         | FANUC Corp                                   | CUSIP: 000000000<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |    158600 | NS      | $4557680.67   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| FRESENIUS MEDICAL CARE AG                          | Fresenius Medical Care AG                    | CUSIP: 000000000<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |    240660 | NS      | $12715887.81  | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| FUJITSU LTD                                        | Fujitsu Ltd                                  | CUSIP: 000000000<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |    418900 | NS      | $9826696.50   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC Holdings PLC                            | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |   1163372 | NS      | $16418808.28  | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| HEIDELBERG MATERIALS AG                            | Heidelberg Materials AG                      | CUSIP: 000000000<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |     40600 | NS      | $9177456.47   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| HEINEKEN HOLDING NV                                | Heineken Holding NV                          | CUSIP: 000000000<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |     69720 | NS      | $4787193.23   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| HENKEL AG & CO KGAA                                | Henkel AG & Co KGaA                          | CUSIP: 000000000<br>LEI: 549300VZCL1HTH4O4Y49 | Long             | EP               | CORP              | DE        |     58000 | NS      | $4679807.02   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| HITACHI LTD                                        | Hitachi Ltd                                  | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |    463200 | NS      | $12271589.32  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCHE HOLDING AG                                   | Roche Holding AG                             | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     77291 | NS      | $25736632.82  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| INCHCAPE PLC                                       | Inchcape PLC                                 | CUSIP: 000000000<br>LEI: 213800RGEH1MPPNM2T57 | Long             | EC               | CORP              | GB        |    420200 | NS      | $3915034.70   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| INFINEON TECHNOLOGIES AG                           | Infineon Technologies AG                     | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |    178100 | NS      | $6986893.57   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| INFORMA PLC                                        | Informa PLC                                  | CUSIP: 000000000<br>LEI: 5493006VM2LKUPSEDU20 | Long             | EC               | CORP              | GB        |    265500 | NS      | $3288562.03   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| JULIUS BAER GRUPPE AG                              | Julius Baer Group Ltd                        | CUSIP: 000000000<br>LEI: 5299007MF0604ZGJER92 | Long             | EC               | CORP              | CH        |    268134 | NS      | $18670831.79  | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| NINTENDO CO LTD                                    | Nintendo Co Ltd                              | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |     43200 | NS      | $3737631.64   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| NOKIA OYJ                                          | Nokia Oyj                                    | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |    479790 | NS      | $2307789.90   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NOKIA OYJ                                          | Nokia Oyj                                    | CUSIP: 000000000<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |    790324 | NS      | $3800509.74   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVARTIS AG                                        | Novartis AG                                  | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     49900 | NS      | $6416061.77   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| OLYMPUS CORP                                       | Olympus Corp                                 | CUSIP: 000000000<br>LEI: 5299000Y52IFDI1I2A21 | Long             | EC               | CORP              | JP        |   1372700 | NS      | $17355072.87  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| ORIX CORP                                          | ORIX Corp                                    | CUSIP: 000000000<br>LEI: 35380016EMHNBOVYE123 | Long             | EC               | CORP              | JP        |    408800 | NS      | $10729360.62  | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| PEARSON PLC                                        | Pearson PLC                                  | CUSIP: 000000000<br>LEI: 2138004JBXWWJKIURC57 | Long             | EC               | CORP              | GB        |    292800 | NS      | $4163930.31   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC GROEP NV                                       | KBC Group NV                                 | CUSIP: 000000000<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | EC               | CORP              | BE        |     66600 | NS      | $7981273.53   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| KINGFISHER PLC                                     | Kingfisher PLC                               | CUSIP: 000000000<br>LEI: 213800KBMEV7I92FY281 | Long             | EC               | CORP              | GB        |    771200 | NS      | $3212640.73   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| KOMATSU LTD                                        | Komatsu Ltd                                  | CUSIP: 000000000<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |    427200 | NS      | $14882456.30  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| KYOCERA CORP                                       | Kyocera Corp                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    410800 | NS      | $5518562.18   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| PERSIMMON PLC                                      | Persimmon PLC                                | CUSIP: 000000000<br>LEI: 213800XI72Y57UWN6F31 | Long             | EC               | CORP              | GB        |    177200 | NS      | $2768317.90   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| KONINKLIJKE PHILIPS NV                             | Koninklijke Philips NV                       | CUSIP: 000000000<br>LEI: H1FJE8H61JGM1JSGM897 | Long             | EC               | CORP              | NL        |    449271 | NS      | $12307359.07  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| PRYSMIAN SPA                                       | Prysmian SpA                                 | CUSIP: 000000000<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |     10400 | NS      | $1035023.51   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                  | Rakuten Group Inc                            | CUSIP: 000000000<br>LEI: 529900IMXUCQKUL1H943 | Long             | EC               | CORP              | JP        |    914900 | NS      | $5932819.14   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| LEGAL & GEN GRP PLC                                | Legal & General Group PLC                    | CUSIP: 000000000<br>LEI: 213800JH9QQWHLO99821 | Long             | EC               | CORP              | GB        |   1447600 | NS      | $4649569.21   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                           | Lloyds Banking Group PLC                     | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |  10792800 | NS      | $12212975.03  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| MACQUARIE GROUP LTD                                | Macquarie Group Ltd                          | CUSIP: 000000000<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |     40600 | NS      | $5893092.03   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| MAGNA INTERNATIONAL INC                            | Magna International Inc                      | CUSIP: 000000000<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |    237496 | NS      | $11252774.48  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PANASONIC HOLDINGS CORP                            | Panasonic Holdings Corp                      | CUSIP: 000000000<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |    500800 | NS      | $5435732.70   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| MERCK KGAA                                         | Merck KGaA                                   | CUSIP: 000000000<br>LEI: 529900OAREIS0MOPTW25 | Long             | EC               | CORP              | DE        |     50600 | NS      | $6565081.99   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| RANDSTAD NV                                        | Randstad NV                                  | CUSIP: 000000000<br>LEI: 7245009EAAUUQJ0U4T57 | Long             | EC               | CORP              | NL        |    304668 | NS      | $12990816.46  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| RECKITT BENCKISER GROUP PLC                        | Reckitt Benckiser Group PLC                  | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |    353915 | NS      | $27252170.71  | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| RESONA HOLDINGS INC                                | Resona Holdings Inc                          | CUSIP: 000000000<br>LEI: 52990067JE75XZCYYT81 | Long             | EC               | CORP              | JP        |    720150 | NS      | $7343583.65   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| SHELL PLC                                          | Shell PLC                                    | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    185989 | NS      | $13303793.17  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| MINEBEA MITSUMI INC                                | MINEBEA MITSUMI Inc                          | CUSIP: 000000000<br>LEI: 353800CCB0CZ75YZ4010 | Long             | EC               | CORP              | JP        |    752500 | NS      | $14140066.28  | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| MURATA MANUFACTURING CO LTD                        | Murata Manufacturing Co Ltd                  | CUSIP: 000000000<br>LEI: 529900QZG6DL8ZRI7140 | Long             | EC               | CORP              | JP        |    944600 | NS      | $17932340.07  | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| J SAINSBURY PLC                                    | J Sainsbury PLC                              | CUSIP: 000000000<br>LEI: 213800VGZAAJIKJ9Y484 | Long             | EC               | CORP              | GB        |   3616092 | NS      | $16258764.33  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD                         | Samsung Electronics Co Ltd                   | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    620366 | NS      | $37191145.03  | 2.59%             |  |  |  | No            |                  2 | On Loan: No      |
| RENESAS ELECTRONICS CORP                           | Renesas Electronics Corp                     | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |    355200 | NS      | $4086644.61   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| NESTLE SA                                          | Nestle SA                                    | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |    103500 | NS      | $9504947.75   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| GALAXY ENTERTAINMENT GROUP LTD                     | Galaxy Entertainment Group Ltd               | CUSIP: 000000000<br>LEI: 549300ZSEBV3HR826S10 | Long             | EC               | CORP              | HK        |   2631000 | NS      | $14466182.25  | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SANOFI SA                                          | Sanofi SA                                    | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    230011 | NS      | $21780639.64  | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| SANTOS LTD                                         | Santos Ltd                                   | CUSIP: 000000000<br>LEI: 5299000RK70B5O2M7077 | Long             | EC               | CORP              | AU        |   1398900 | NS      | $6212318.96   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                             | SAP SE                                       | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     48100 | NS      | $12879603.85  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| SEVEN & I HOLDINGS CO LTD                          | Seven & i Holdings Co Ltd                    | CUSIP: 000000000<br>LEI: 52990037G8JRM3TWGY86 | Long             | EC               | CORP              | JP        |    671400 | NS      | $9009126.60   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| SHINHAN FINANCIAL GROUP CO LTD                     | Shinhan Financial Group Co Ltd               | CUSIP: 000000000<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |    256090 | NS      | $12911534.46  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| SIEMENS AG                                         | Siemens AG                                   | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     40000 | NS      | $10799121.25  | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| SKANDINAVISKA ENSKILDA BANKEN AB                   | Skandinaviska Enskilda Banken AB             | CUSIP: 000000000<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | EC               | CORP              | SE        |    418300 | NS      | $8201839.11   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC                                 | Smith & Nephew PLC                           | CUSIP: 000000000<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |    249500 | NS      | $4525269.07   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA                                | Societe Generale SA                          | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |    206100 | NS      | $13721379.62  | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| SODEXO SA                                          | Sodexo SA                                    | CUSIP: 000000000<br>LEI: 969500LCBOG12HXPYM84 | Long             | EC               | CORP              | FR        |     63004 | NS      | $3975189.09   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI HOLDINGS                                       | SBI Holdings Inc                             | CUSIP: 000000000<br>LEI: 353800L6LMHYIPSMRQ17 | Long             | EC               | CORP              | JP        |    214000 | NS      | $9317019.88   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| SONIC HEALTHCARE LTD                               | Sonic Healthcare Ltd                         | CUSIP: 000000000<br>LEI: 549300NQQ5L2NONWR862 | Long             | EC               | CORP              | AU        |    263100 | NS      | $3726517.80   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| SONY GROUP CORP                                    | Sony Group Corp                              | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    598200 | NS      | $17196277.16  | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| SONY FINANCIAL GROUP INC                           | Sony Financial Holdings Inc                  | CUSIP: 000000000<br>LEI: 353800O7BDSU41WOZA60 | Long             | EC               | CORP              | JP        |    598200 | NS      | $663385.74    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED PLC                             | Standard Chartered PLC                       | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |    199289 | NS      | $3867714.42   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| EQUINOR ASA                                        | Equinor ASA                                  | CUSIP: 000000000<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | NUSS              | NO        |    646850 | NS      | $15774160.95  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FIN GRP INC                        | Sumitomo Mitsui Financial Group Inc          | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    622900 | NS      | $17523967.76  | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| TDK CORPORATION                                    | TDK Corp                                     | CUSIP: 000000000<br>LEI: 3538005O8WNU39U8NX03 | Long             | EC               | CORP              | JP        |   1255100 | NS      | $18174857.46  | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL CO LTD                       | Takeda Pharmaceutical Co Ltd                 | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |    221700 | NS      | $6511416.17   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| TELEPERFORMANCE                                    | Teleperformance SE                           | CUSIP: 000000000<br>LEI: 9695004GI61FHFFNRG61 | Long             | EC               | CORP              | FR        |    237059 | NS      | $17706743.61  | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| TORAY INDUSTRIES INC                               | Toray Industries Inc                         | CUSIP: 000000000<br>LEI: 35380099TCYR5FHT0A11 | Long             | EC               | CORP              | JP        |    497000 | NS      | $3170744.02   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ACCOR SA                                           | Accor SA                                     | CUSIP: 000000000<br>LEI: 969500QZC2Q0TK11NV07 | Long             | EC               | CORP              | FR        |    227040 | NS      | $10786759.87  | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                         | Allianz SE                                   | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |     15100 | NS      | $6352972.50   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| DCC PLC                                            | DCC PLC                                      | CUSIP: 000000000<br>LEI: 213800UPS1QEE4TD3T45 | Long             | EC               | CORP              | IE        |    101994 | NS      | $6565551.09   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| ARKEMA SA                                          | Arkema SA                                    | CUSIP: 000000000<br>LEI: 9695000EHMS84KKP2785 | Long             | EC               | CORP              | FR        |    171848 | NS      | $10896543.77  | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| ASHTEAD GROUP PLC                                  | Ashtead Group PLC                            | CUSIP: 000000000<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |     74800 | NS      | $5016192.80   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| BP PLC                                             | BP PLC                                       | CUSIP: 000000000<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |   1499500 | NS      | $8609607.87   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO DO BRASIL SA                                 | Banco do Brasil SA                           | CUSIP: 000000000<br>LEI: QE0Q0253K88YAGNPE356 | Long             | EC               | NUSS              | BR        |   1854300 | NS      | $7664916.15   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| FUKUOKA FIN GRP                                    | Fukuoka Financial Group Inc                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    195800 | NS      | $5856109.14   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK RAKYAT INDONESIA (PERSERO)                    | Bank Rakyat Indonesia Persero Tbk PT         | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | NUSS              | ID        |  20766700 | NS      | $4867350.81   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| CTS EVENTIM AG & CO KGAA                           | CTS Eventim AG & Co KGaA                     | CUSIP: 000000000<br>LEI: 529900FDHSN08UBJII80 | Long             | EC               | CORP              | DE        |     24200 | NS      | $2375822.48   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| DAIKIN INDUSTRIES LTD                              | Daikin Industries Ltd                        | CUSIP: 000000000<br>LEI: 549300Y7FWSTSHMW5Y57 | Long             | EC               | CORP              | JP        |    141300 | NS      | $16286536.66  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| DAI NIPPON PRINTING CO LTD                         | Dai Nippon Printing Co Ltd                   | CUSIP: 000000000<br>LEI: 529900S7NFNQ4FT6OP83 | Long             | EC               | CORP              | JP        |     78700 | NS      | $1338272.97   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ GROUP AG                             | Mercedes-Benz Group AG                       | CUSIP: 000000000<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |    132639 | NS      | $8360235.57   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-22

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

**Signature:** Martha Skinner

**Name of Signer:** Martha Skinner

**Title:** Assistant Treasurer