# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001410368-26-018824
**Filing Date:** 2026-2
**Character Count:** 21556
**Document Hash:** fd9902a4de4694cec0face5ccbd02195
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-018824.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001410368-26-018824

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**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:** 26684783

**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

### CTIVP - CenterSquare Real Estate Fund (Series ID: S000028695)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000087808 | CTIVP - CenterSquare Real Estate Fund Class 1 |  |
| C000087809 | CTIVP - CenterSquare Real Estate Fund Class 2 |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

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

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

- **a. Name of Series:** CTIVP - CenterSquare Real Estate Fund

- **b. EDGAR series identifier (if any):** S000028695

- **c. LEI of Series:** 549300JPY21A46E31P45

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $143934539.79

**Total Liabilities:** $118744.02

**Net Assets:** $143815795.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000087808 | -1.23%               | 2.18%                | -2.29%               |
| Class ID C000087809 | -1.40%               | 2.20%                | -2.31%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $759726.80               | $-2716267.01                               |
| Month 2  | $-87788.37               | $3017471.73                                |
| Month 3  | $-115756.17              | $-4015122.41                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agree Realty Corp                   | Agree Realty Corp                   | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               |  | US        |     40770 | NS      | $2936663.10   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc | Alexandria Real Estate Equities Inc | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               |  | US        |     21040 | NS      | $1029697.60   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent               | American Homes 4 Rent               | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               |  | US        |     79080 | NS      | $2538468.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                 | American Tower Corp                 | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |      3770 | NS      | $661898.90    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc          | Americold Realty Trust Inc          | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               |  | US        |     34520 | NS      | $443927.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                             | BXP Inc                             | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               |  | US        |     23130 | NS      | $1560812.40   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc          | Brixmor Property Group Inc          | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               |  | US        |    150560 | NS      | $3947683.20   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc            | Broadstone Net Lease Inc            | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               |  | US        |     55160 | NS      | $958129.20    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust               | Camden Property Trust               | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               |  | US        |     37790 | NS      | $4159923.20   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBIA SHORT TERM CASH FUND       | COLUMBIA SHORT TERM CASH FUND       | CUSIP: 19766H239<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1118952 | NS      | $1118616.04   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc              | Cousins Properties Inc              | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               |  | US        |     81058 | NS      | $2089675.24   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                    | Crown Castle Inc                    | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |      5770 | NS      | $512779.90    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co          | DiamondRock Hospitality Co          | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               |  | US        |    102690 | NS      | $920102.40    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc            | Digital Realty Trust Inc            | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |     42210 | NS      | $6530309.10   | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust        | Diversified Healthcare Trust        | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               |  | US        |     68923 | NS      | $334276.55    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                  | Douglas Emmett Inc                  | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               |  | US        |     35910 | NS      | $394650.90    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc            | EastGroup Properties Inc            | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |      7030 | NS      | $1252324.20   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc       | Empire State Realty Trust Inc       | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               |  | US        |     72030 | NS      | $469635.60    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                         | Equinix Inc                         | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |     13020 | NS      | $9975403.20   | 6.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc     | Equity LifeStyle Properties Inc     | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |     32490 | NS      | $1969218.90   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                  | Equity Residential                  | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               |  | US        |     34260 | NS      | $2159750.40   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc            | Essex Property Trust Inc            | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               |  | US        |      7840 | NS      | $2051571.20   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc             | Extra Space Storage Inc             | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               |  | US        |     43830 | NS      | $5707542.60   | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust     | Federal Realty Investment Trust     | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               |  | US        |     10790 | NS      | $1087632.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc   | First Industrial Realty Trust Inc   | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               |  | US        |     33220 | NS      | $1902509.40   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc        | American Healthcare REIT Inc        | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               |  | US        |     42630 | NS      | $2006167.80   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc         | Healthcare Realty Trust Inc         | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |     93950 | NS      | $1592452.50   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc           | Healthpeak Properties Inc           | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               |  | US        |     77470 | NS      | $1245717.60   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc           | Host Hotels & Resorts Inc           | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               |  | US        |    121950 | NS      | $2162173.50   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp          | InvenTrust Properties Corp          | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               |  | US        |     24490 | NS      | $690862.90    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                | Invitation Homes Inc                | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               |  | US        |     84440 | NS      | $2346587.60   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                   | Iron Mountain Inc                   | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |     48120 | NS      | $3991554.00   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                   | Kimco Realty Corp                   | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               |  | US        |    186890 | NS      | $3788260.30   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust             | Kite Realty Group Trust             | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               |  | US        |    112630 | NS      | $2699741.10   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                | Lamar Advertising Co                | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               |  | US        |      4720 | NS      | $597457.60    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                         | Lineage Inc                         | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               |  | US        |      8550 | NS      | $299250.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                     | Macerich Co/The                     | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               |  | US        |     84430 | NS      | $1558577.80   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc       | National Health Investors Inc       | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               |  | US        |     20200 | NS      | $1542674.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                        | NNN REIT Inc                        | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               |  | US        |      1450 | NS      | $57463.50     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                      | NETSTREIT Corp                      | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |     58430 | NS      | $1030705.20   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc      | Omega Healthcare Investors Inc      | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |     55230 | NS      | $2448898.20   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc           | Piedmont Realty Trust Inc           | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               |  | US        |     72480 | NS      | $604483.20    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                        | Prologis Inc                        | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |     84820 | NS      | $10828121.20  | 7.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                      | Public Storage                      | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               |  | US        |     20680 | NS      | $5366460.00   | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                   | RLJ Lodging Trust                   | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               |  | US        |     38310 | NS      | $285409.50    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                  | Realty Income Corp                  | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               |  | US        |     75700 | NS      | $4267209.00   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc       | Rexford Industrial Realty Inc       | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |     36160 | NS      | $1400115.20   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc    | Ryman Hospitality Properties Inc    | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |      5150 | NS      | $487293.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                | SL Green Realty Corp                | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               |  | US        |      8440 | NS      | $387142.80    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc          | Sabra Health Care REIT Inc          | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               |  | US        |     42147 | NS      | $798264.18    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc            | Simon Property Group Inc            | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |     25740 | NS      | $4764731.40   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc        | Sunstone Hotel Investors Inc        | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               |  | US        |     33190 | NS      | $296718.60    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                             | UDR Inc                             | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               |  | US        |    131100 | NS      | $4808748.00   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                          | Ventas Inc                          | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               |  | US        |     86530 | NS      | $6695691.40   | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                 | VICI Properties Inc                 | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |     82560 | NS      | $2321587.20   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                | Vornado Realty Trust                | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               |  | US        |     40370 | NS      | $1343513.60   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                       | Welltower Inc                       | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |     74880 | NS      | $13898476.80  | 9.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc          | Xenia Hotels & Resorts Inc          | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               |  | US        |      7179 | NS      | $101511.06    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-02

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

**Signature:** Jennifer Borges

**Name of Signer:** Jennifer Borges

**Title:** Senior Manager