# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001193125-25-298475
**Filing Date:** 2025-11
**Character Count:** 70070
**Document Hash:** 0fd7b2f13bb5cedb6ebee11896e917b7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-298475.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001193125-25-298475

**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:** 251524046

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

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

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

## Series and Classes Contracts Data

### Columbia Variable Portfolio - Overseas Core Fund (Series ID: S000019843)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000055680 | Columbia Variable Portfolio - Overseas Core Fund Class 3 |  |
| C000088763 | Columbia Variable Portfolio - Overseas Core Fund Class 1 |  |
| C000088764 | Columbia Variable Portfolio - Overseas Core Fund Class 2 |  |

## Nport-Ex

![](img95d90ceb1.jpg)

Columbia Variable Portfolio – Overseas Core Fund

**Third Quarter Report**

September 30, 2025 (Unaudited)

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

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

---

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

---

------

Portfolio of Investments

Columbia Variable Portfolio – Overseas Core 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 96.8%** | **Common Stocks 96.8%** | **Common Stocks 96.8%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Australia 4.1%** | **Australia 4.1%** | **Australia 4.1%** |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 4896540 | &nbsp;&nbsp; 76461042 |
| Paladin Energy Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 6290538 | &nbsp;&nbsp; 34747192 |
| Santos Ltd. | &nbsp;&nbsp; 10490187 | &nbsp;&nbsp; 46585451 |
| **Total** | **Total** | &nbsp;&nbsp; **157793685** |
| **Austria 0.9%** | **Austria 0.9%** | **Austria 0.9%** |
| Kontron AG | &nbsp;&nbsp; 1042227 | &nbsp;&nbsp; 33686985 |
| **Belgium 0.3%** | **Belgium 0.3%** | **Belgium 0.3%** |
| Galapagos NV, ADR<sup>(a)</sup> <br>| &nbsp;&nbsp; 399249 | &nbsp;&nbsp; 13829985 |
| **Brazil 1.3%** | **Brazil 1.3%** | **Brazil 1.3%** |
| Itaú Unibanco Holding SA, ADR | &nbsp;&nbsp; 6941196 | &nbsp;&nbsp; 50948379 |
| **Canada 3.8%** | **Canada 3.8%** | **Canada 3.8%** |
| Cameco Corp. | &nbsp;&nbsp; 205811 | &nbsp;&nbsp; 17259311 |
| Finning International, Inc. | &nbsp;&nbsp; 507815 | &nbsp;&nbsp; 23590026 |
| Pan American Silver Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1154100 | &nbsp;&nbsp; 44698293 |
| Vermilion Energy, Inc. | &nbsp;&nbsp; 1724688 | &nbsp;&nbsp; 13487060 |
| Whitecap Resources, Inc. | &nbsp;&nbsp; 6483693 | &nbsp;&nbsp; 49476769 |
| **Total** | **Total** | &nbsp;&nbsp; **148511459** |
| **China 1.9%** | **China 1.9%** | **China 1.9%** |
| &nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 10926500 | &nbsp;&nbsp; 74333956 |
| **Denmark 0.9%** | **Denmark 0.9%** | **Denmark 0.9%** |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 603723 | &nbsp;&nbsp; 33616303 |
| **Finland 1.1%** | **Finland 1.1%** | **Finland 1.1%** |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 1612437 | &nbsp;&nbsp; 44159219 |
| **France 6.2%** | **France 6.2%** | **France 6.2%** |
| AXA SA | &nbsp;&nbsp; 1294266 | &nbsp;&nbsp; 62066542 |
| Cie de Saint-Gobain SA | &nbsp;&nbsp; 420769 | &nbsp;&nbsp; 45590979 |
| Eiffage SA | &nbsp;&nbsp; 379054 | &nbsp;&nbsp; 48563596 |
| Sanofi SA | &nbsp;&nbsp; 615779 | &nbsp;&nbsp; 58310518 |
| TotalEnergies SE | &nbsp;&nbsp; 452010 | &nbsp;&nbsp; 27531312 |
| **Total** | **Total** | &nbsp;&nbsp; **242062947** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Germany 2.8%** | **Germany 2.8%** | **Germany 2.8%** |
| Duerr AG | &nbsp;&nbsp; 566536 | &nbsp;&nbsp; 13343078 |
| Fresenius Medical Care AG | &nbsp;&nbsp; 685898 | &nbsp;&nbsp; 36241178 |
| KION Group AG | &nbsp;&nbsp; 555278 | &nbsp;&nbsp; 37673146 |
| LANXESS AG | &nbsp;&nbsp; 414614 | &nbsp;&nbsp; 10323593 |
| TeamViewer SE<sup>(a)</sup> <br>| &nbsp;&nbsp; 1196249 | &nbsp;&nbsp; 12215195 |
| **Total** | **Total** | &nbsp;&nbsp; **109796190** |
| **Greece 3.3%** | **Greece 3.3%** | **Greece 3.3%** |
| JUMBO SA | &nbsp;&nbsp; 1441806 | &nbsp;&nbsp; 49462223 |
| National Bank of Greece SA | &nbsp;&nbsp; 5343770 | &nbsp;&nbsp; 77812995 |
| **Total** | **Total** | &nbsp;&nbsp; **127275218** |
| **Hong Kong 2.1%** | **Hong Kong 2.1%** | **Hong Kong 2.1%** |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 10177000 | &nbsp;&nbsp; 47676946 |
| WH Group Ltd. | &nbsp;&nbsp; 31334250 | &nbsp;&nbsp; 33933459 |
| **Total** | **Total** | &nbsp;&nbsp; **81610405** |
| **Ireland 2.6%** | **Ireland 2.6%** | **Ireland 2.6%** |
| AIB Group PLC | &nbsp;&nbsp; 5579964 | &nbsp;&nbsp; 50871095 |
| Flutter Entertainment PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 197197 | &nbsp;&nbsp; 50088038 |
| **Total** | **Total** | &nbsp;&nbsp; **100959133** |
| **Israel 2.1%** | **Israel 2.1%** | **Israel 2.1%** |
| Check Point Software Technologies Ltd.<sup>(a)</sup> <br>| &nbsp;&nbsp; 404003 | &nbsp;&nbsp; 83592261 |
| **Italy 2.4%** | **Italy 2.4%** | **Italy 2.4%** |
| BPER Banca SPA | &nbsp;&nbsp; 1230924 | &nbsp;&nbsp; 13690530 |
| Buzzi SpA | &nbsp;&nbsp; 1003013 | &nbsp;&nbsp; 55270967 |
| PRADA SpA | &nbsp;&nbsp; 4194200 | &nbsp;&nbsp; 25251634 |
| **Total** | **Total** | &nbsp;&nbsp; **94213131** |
| **Japan 24.0%** | **Japan 24.0%** | **Japan 24.0%** |
| Amano Corp. | &nbsp;&nbsp; 744800 | &nbsp;&nbsp; 21108630 |
| Furuno Electric Co., Ltd. | &nbsp;&nbsp; 425600 | &nbsp;&nbsp; 16278105 |
| Hitachi Ltd. | &nbsp;&nbsp; 1231800 | &nbsp;&nbsp; 32634162 |
| IHI Corp. | &nbsp;&nbsp; 868000 | &nbsp;&nbsp; 16165871 |
| ITOCHU Corp. | &nbsp;&nbsp; 1139700 | &nbsp;&nbsp; 64847102 |
| Kakaku.com, Inc. | &nbsp;&nbsp; 1379200 | &nbsp;&nbsp; 23687574 |
| Kinden Corp. | &nbsp;&nbsp; 900400 | &nbsp;&nbsp; 30789270 |
| Komatsu Ltd. | &nbsp;&nbsp; 1453900 | &nbsp;&nbsp; 50649820 |
| Macnica Holdings, Inc. | &nbsp;&nbsp; 2793700 | &nbsp;&nbsp; 38656801 |

---

Columbia Variable Portfolio – Overseas Core Fund \| 2025

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Overseas Core Fund, September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 2976600 | &nbsp;&nbsp; 60463917 |
| Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp; 4349900 | &nbsp;&nbsp; 70169884 |
| Niterra Co., Ltd. | &nbsp;&nbsp; 1400500 | &nbsp;&nbsp; 54023308 |
| Nomura Holdings, Inc. | &nbsp;&nbsp; 4381000 | &nbsp;&nbsp; 32106921 |
| Otsuka Corp. | &nbsp;&nbsp; 1787400 | &nbsp;&nbsp; 37310555 |
| Sankyo Co., Ltd. | &nbsp;&nbsp; 3692300 | &nbsp;&nbsp; 64149040 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 1070500 | &nbsp;&nbsp; 30603994 |
| Shimamura Co., Ltd. | &nbsp;&nbsp; 692700 | &nbsp;&nbsp; 46317710 |
| Ship Healthcare Holdings, Inc. | &nbsp;&nbsp; 1286800 | &nbsp;&nbsp; 19895162 |
| Sumitomo Corp. | &nbsp;&nbsp; 643600 | &nbsp;&nbsp; 18621275 |
| Sumitomo Metal Mining Co., Ltd. | &nbsp;&nbsp; 663100 | &nbsp;&nbsp; 21348494 |
| Suzuken Co., Ltd. | &nbsp;&nbsp; 1239700 | &nbsp;&nbsp; 48722853 |
| TBS Holdings, Inc. | &nbsp;&nbsp; 1530400 | &nbsp;&nbsp; 58045683 |
| TOPPAN Holdings, Inc. | &nbsp;&nbsp; 1747700 | &nbsp;&nbsp; 44779645 |
| USS Co., Ltd. | &nbsp;&nbsp; 2626400 | &nbsp;&nbsp; 30152706 |
| **Total** | **Total** | &nbsp;&nbsp; **931528482** |
| **Kazakhstan 0.7%** | **Kazakhstan 0.7%** | **Kazakhstan 0.7%** |
| Kaspi.KZ JSC, ADR | &nbsp;&nbsp; 314458 | &nbsp;&nbsp; 25684929 |
| **Netherlands 10.5%** | **Netherlands 10.5%** | **Netherlands 10.5%** |
| ASM International NV | &nbsp;&nbsp; 95773 | &nbsp;&nbsp; 57765460 |
| ASR Nederland NV | &nbsp;&nbsp; 819637 | &nbsp;&nbsp; 55775750 |
| ING Groep NV | &nbsp;&nbsp; 3528983 | &nbsp;&nbsp; 92514956 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 910243 | &nbsp;&nbsp; 36832530 |
| Prosus NV, Class N<sup>(a)</sup> <br>| &nbsp;&nbsp; 1340238 | &nbsp;&nbsp; 94775001 |
| Shell PLC | &nbsp;&nbsp; 1959468 | &nbsp;&nbsp; 70281106 |
| **Total** | **Total** | &nbsp;&nbsp; **407944803** |
| **Norway 0.8%** | **Norway 0.8%** | **Norway 0.8%** |
| SalMar ASA | &nbsp;&nbsp; 560935 | &nbsp;&nbsp; 29995131 |
| **Poland 1.5%** | **Poland 1.5%** | **Poland 1.5%** |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp; 3108671 | &nbsp;&nbsp; 60403635 |
| **Russian Federation —%** | **Russian Federation —%** | **Russian Federation —%** |
| Lukoil PJSC<sup>(a),(c),(d),(e),(f)</sup> <br>| &nbsp;&nbsp; 133228 | &nbsp;&nbsp; — |
| **Singapore 0.8%** | **Singapore 0.8%** | **Singapore 0.8%** |
| Venture Corp., Ltd. | &nbsp;&nbsp; 2862100 | &nbsp;&nbsp; 30954004 |
| **South Africa 0.7%** | **South Africa 0.7%** | **South Africa 0.7%** |
| Impala Platinum Holdings Ltd. | &nbsp;&nbsp; 2016933 | &nbsp;&nbsp; 25721535 |
| **South Korea 2.1%** | **South Korea 2.1%** | **South Korea 2.1%** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Samsung Electronics Co., Ltd. | &nbsp;&nbsp; 933907 | &nbsp;&nbsp; 55988031 |
| Youngone Corp. | &nbsp;&nbsp; 561352 | &nbsp;&nbsp; 25951583 |
| **Total** | **Total** | &nbsp;&nbsp; **81939614** |
| **Spain 1.4%** | **Spain 1.4%** | **Spain 1.4%** |
| Endesa SA | &nbsp;&nbsp; 1657365 | &nbsp;&nbsp; 52946017 |
| **Switzerland 2.7%** | **Switzerland 2.7%** | **Switzerland 2.7%** |
| Landis+Gyr Group AG<sup>(a)</sup> <br>| &nbsp;&nbsp; 303424 | &nbsp;&nbsp; 24637310 |
| Nestlé SA, Registered Shares | &nbsp;&nbsp; 218976 | &nbsp;&nbsp; 20109715 |
| Novartis AG, Registered Shares | &nbsp;&nbsp; 303185 | &nbsp;&nbsp; 38983040 |
| Roche Holding AG, Genusschein Shares | &nbsp;&nbsp; 68321 | &nbsp;&nbsp; 22749770 |
| **Total** | **Total** | &nbsp;&nbsp; **106479835** |
| **Taiwan 2.6%** | **Taiwan 2.6%** | **Taiwan 2.6%** |
| Parade Technologies Ltd. | &nbsp;&nbsp; 1411000 | &nbsp;&nbsp; 34507571 |
| Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp; 1521000 | &nbsp;&nbsp; 66068935 |
| **Total** | **Total** | &nbsp;&nbsp; **100576506** |
| **United Arab Emirates 1.3%** | **United Arab Emirates 1.3%** | **United Arab Emirates 1.3%** |
| Emaar Properties PJSC | &nbsp;&nbsp; 13992491 | &nbsp;&nbsp; 49714000 |
| **United Kingdom 7.4%** | **United Kingdom 7.4%** | **United Kingdom 7.4%** |
| AstraZeneca PLC, ADR | &nbsp;&nbsp; 1057700 | &nbsp;&nbsp; 81146744 |
| DCC PLC | &nbsp;&nbsp; 295088 | &nbsp;&nbsp; 18995385 |
| Imperial Brands PLC | &nbsp;&nbsp; 890964 | &nbsp;&nbsp; 37849444 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 24458051 | &nbsp;&nbsp; 31486049 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 15248639 | &nbsp;&nbsp; 74811795 |
| TP Icap Group PLC | &nbsp;&nbsp; 11292335 | &nbsp;&nbsp; 41955882 |
| **Total** | **Total** | &nbsp;&nbsp; **286245299** |
| **United States 4.5%** | **United States 4.5%** | **United States 4.5%** |
| ACADIA Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 308555 | &nbsp;&nbsp; 6584564 |
| Burford Capital Ltd. | &nbsp;&nbsp; 2522192 | &nbsp;&nbsp; 30165416 |
| Energy Fuels, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 686333 | &nbsp;&nbsp; 10535212 |
| Insmed, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 92769 | &nbsp;&nbsp; 13359664 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 230949 | &nbsp;&nbsp; 30439078 |
| JBS NV, Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 1821858 | &nbsp;&nbsp; 27200332 |
| Primo Brands Corp., Class A | &nbsp;&nbsp; 2595590 | &nbsp;&nbsp; 57362539 |
| **Total** | **Total** | &nbsp;&nbsp; **175646805** |
| &nbsp;&nbsp; Total Common Stocks <br>(Cost $3,167,417,859) | &nbsp;&nbsp; Total Common Stocks <br>(Cost $3,167,417,859) | &nbsp;&nbsp; **3762169851** |

---

Columbia Variable Portfolio – Overseas Core Fund \| 2025

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Overseas Core Fund, September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Exchange-Traded Equity Funds 2.1%** | **Exchange-Traded Equity Funds 2.1%** | **Exchange-Traded Equity Funds 2.1%** |
|  | **Shares** | **Value ($)** |
| **United States 2.1%** | **United States 2.1%** | **United States 2.1%** |
| iShares MSCI EAFE ETF | &nbsp;&nbsp; 882371 | &nbsp;&nbsp; 82386980 |
| &nbsp;&nbsp; Total Exchange-Traded Equity Funds <br>(Cost $82,250,389) | &nbsp;&nbsp; Total Exchange-Traded Equity Funds <br>(Cost $82,250,389) | &nbsp;&nbsp; **82386980** |

---

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

---

| | |
|:---|:---|
| **Call Option Contracts Purchased 0.0%** | **Call Option Contracts Purchased 0.0%** |
|  | **Value ($)** |
| (Cost $1,239,263) | &nbsp;&nbsp; **780589** |

---

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

---

| | | |
|:---|:---|:---|
| **Money Market Funds 1.3%** | **Money Market Funds 1.3%** | **Money Market Funds 1.3%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 4.265%<sup>(g),(h)</sup> <br>| &nbsp;&nbsp; 48814716 | &nbsp;&nbsp; 48800072 |
| &nbsp;&nbsp; Total Money Market Funds <br>(Cost $48,797,026) | &nbsp;&nbsp; Total Money Market Funds <br>(Cost $48,797,026) | &nbsp;&nbsp; **48800072** |
| **Total Investments in Securities** <br>**(Cost $3,299,704,537)** | **Total Investments in Securities** <br>**(Cost $3,299,704,537)** | &nbsp;&nbsp; **3894137492** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(7886172)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$3886251320** |

---

At September 30, 2025, securities and/or cash totaling $11,658,692 were pledged as collateral.

**Investments in derivatives** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** |
| **Currency to** <br>**be sold**<br>| &nbsp;&nbsp;&nbsp; **Currency to** <br>**be purchased**<br>| **Counterparty** | **Settlement** <br>**date**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**depreciation ($)**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,180,000 NZD | &nbsp;&nbsp;&nbsp;&nbsp; 30,957,090 USD | Barclays | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 658146 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35,231,495 USD | &nbsp;&nbsp;&nbsp;&nbsp; 52,754,000 AUD | Barclays | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (304865)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 132,014,696 USD | &nbsp;&nbsp;&nbsp;&nbsp; 112,527,000 EUR | Barclays | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 418443 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35,295,552 USD | &nbsp;&nbsp;&nbsp;&nbsp; 345,877,000 NOK | Barclays | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (629476)<br>|
| 22,800,182,000 JPY | &nbsp;&nbsp;&nbsp;&nbsp; 155,646,878 USD | Citi | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 811503 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96,976,337 USD | &nbsp;&nbsp;&nbsp;&nbsp; 77,006,000 CHF | Citi | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 229504 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32,265,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp; 23,502,631 USD | Goldman Sachs International | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 273214 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49,655,000 SGD | &nbsp;&nbsp;&nbsp;&nbsp; 38,838,786 USD | HSBC | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 222752 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 120,177,578 USD | &nbsp;&nbsp;&nbsp;&nbsp; 181,964,000 AUD | HSBC | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 294600 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27,162,979 USD | &nbsp;&nbsp;&nbsp;&nbsp; 172,856,000 DKK | HSBC | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 100874 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39,167,471 USD | &nbsp;&nbsp;&nbsp;&nbsp; 65,369,000 NZD | HSBC | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1210176)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,913,000 GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,918,350 USD | JPMorgan | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,868,000 AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,814,060 USD | Morgan Stanley | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (43340)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 231,074,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp; 166,855,673 USD | Morgan Stanley | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 492292 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23,069,000 EUR | &nbsp;&nbsp;&nbsp;&nbsp; 27,402,396 USD | Morgan Stanley | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 252467 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 43,091,202,000 KRW | &nbsp;&nbsp;&nbsp;&nbsp; 31,101,553 USD | State Street | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 360850 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp; 4,206,784,000 TWD | &nbsp;&nbsp;&nbsp;&nbsp; 139,136,233 USD | State Street | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 665495 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,827,733 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,734,000 GBP | State Street | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (114752)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,818,694 USD | &nbsp;&nbsp;&nbsp;&nbsp; 1,158,466,000 JPY | State Street | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 48415 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23,232,193 USD | &nbsp;&nbsp;&nbsp;&nbsp; 231,089,000 NOK | State Street | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (70928)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 433,776,000 SEK | &nbsp;&nbsp;&nbsp;&nbsp; 46,818,502 USD | UBS | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 622514 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; 159,284,499 USD | &nbsp;&nbsp;&nbsp;&nbsp; 117,741,000 GBP | UBS | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (907430)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85,307,962 USD | &nbsp;&nbsp;&nbsp;&nbsp; 795,774,000 SEK | UBS | 11/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (560150)<br>|
| Total |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5451069 | &nbsp;&nbsp;&nbsp;&nbsp; (3841134)<br>|

---

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** |
| **Description** | **Counterparty** | &nbsp;&nbsp; **Trading** <br>**currency**<br>| **Notional** <br>**amount**<br>| **Number of** <br>**contracts**<br>| **Exercise** <br>**price/Rate**<br>| **Expiration** <br>**date**<br>| **Cost ($)** | **Value ($)** |
| CBOE Volatility Index | Morgan Stanley | USD | &nbsp;&nbsp; 13168892 | &nbsp;&nbsp; 8089 | 20.00 | &nbsp;&nbsp; 10/22/2025 | &nbsp;&nbsp; 1239263 | &nbsp;&nbsp; 780589 |

---

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** |
| **Description** | **Counterparty** | &nbsp;&nbsp; **Trading** <br>**currency**<br>| **Notional** <br>**amount**<br>| **Number of** <br>**contracts**<br>| **Exercise** <br>**price/Rate**<br>| **Expiration** <br>**date**<br>| **Premium** <br>**received ($)**<br>| **Value ($)** |
| Pan American Silver Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (11649984)<br>| &nbsp;&nbsp; (3008)<br>| 45.00 | &nbsp;&nbsp; 11/21/2025 | &nbsp;&nbsp; (145878)<br>| &nbsp;&nbsp; (270720)<br>|

---

Columbia Variable Portfolio – Overseas Core Fund \| 2025

------

Portfolio of Investments (continued)

Columbia Variable Portfolio – Overseas Core Fund, September 30, 2025 (Unaudited)

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) This security or a portion of this security has been pledged as collateral in connection
 with investments sold short and/or derivative contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Represents fair value as determined in good faith under procedures approved by the
 Board of Trustees. At September 30, 2025, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Denotes a restricted security, which is subject to legal or contractual restrictions
 on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable
 price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between
 qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These
 securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund's Board of Trustees. At September 30, 2025, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **Acquisition** <br>**Dates**<br>| **Shares** | **Cost ($)** | **Value ($)** |
| Lukoil PJSC | 01/25/2022-01/26/2022 | &nbsp;&nbsp; 133228 | &nbsp;&nbsp; 10912642 | &nbsp;&nbsp; — |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(e) As a result of sanctions and restricted cross-border payments, certain payments have
 not been recognized by the Fund. The Fund will continue to monitor the net realizable value and record payments when it is considered collectible.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Valuation based on significant unobservable inputs.

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

&nbsp;&nbsp;&nbsp;&nbsp;(h) 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% |
|  | 18159308 | &nbsp;&nbsp; 606339556 | &nbsp;&nbsp; (575702245)<br>| &nbsp;&nbsp; 3453 | &nbsp;&nbsp; 48800072 | &nbsp;&nbsp; (5214)<br>| &nbsp;&nbsp; 630559 | &nbsp;&nbsp; 48814716 |

---

**Abbreviation Legend** 

ADR American Depositary Receipt

**Currency Legend** 

---

| | |
|:---|:---|
| AUD | Australian Dollar |
| CAD | Canada Dollar |
| CHF | Swiss Franc |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| TWD | New Taiwan Dollar |
| USD | US Dollar |

---

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

Columbia Variable Portfolio – Overseas Core Fund \| 2025

------

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

3QT7018_12_D01_(11/25)

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

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

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

- **a. Name of Series:** Columbia Variable Portfolio - Overseas Core Fund

- **b. EDGAR series identifier (if any):** S000019843

- **c. LEI of Series:** Q0EBCBICSMH65I7QD232

**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:** $3934553657.57

**Total Liabilities:** $43066538.99

**Net Assets:** $3891487118.58

**Cash Not Reported:** $248685.97

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000055680 | -1.19%               | 5.19%                | 2.41%                |
| Class ID C000088763 | -1.18%               | 5.24%                | 2.46%                |
| Class ID C000088764 | -1.20%               | 5.16%                | 2.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $45874142.54             | $-84438942.76                              |
| Month 2  | $91537858.50             | $83691629.43                               |
| Month 3  | $77363090.89             | $-1587895.77                               |

**Designated Index Information**

- **Index Name:** MSCI EAFE Index (Net Total Return)

- **Index Identifier:** MSCIEAFEN

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EIFFAGE SA                                  | Eiffage SA                                  | CUSIP: 000000000<br>LEI: 969500OQXKE5WDM9M994 | Long             | EC               | CORP              | FR        |       379054 | NS      | $48563595.71  | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| ENDESA SA                                   | Endesa SA                                   | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |      1657365 | NS      | $52946017.37  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY FUELS INC                            | Energy Fuels Inc/Canada                     | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |       686333 | NS      | $10535211.55  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| FINNING INTL INC                            | Finning International Inc                   | CUSIP: 000000000<br>LEI: 549300QLDCP11KB6XW55 | Long             | EC               | CORP              | CA        |       507815 | NS      | $23590026.41  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO METAL MNG CO LTD                   | Sumitomo Metal Mining Co Ltd                | CUSIP: 000000000<br>LEI: 353800CF81IXL9974H84 | Long             | EC               | CORP              | JP        |       358300 | NS      | $11535462.70  | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| SUZUKEN CO LTD                              | Suzuken Co Ltd/Aichi Japan                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1239700 | NS      | $48722852.61  | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD   | Taiwan Semiconductor Manufacturing Co Ltd   | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      1521000 | NS      | $66068935.15  | 1.70%             |  |  |  | No            |                  2 | On Loan: No      |
| TBS HOLDINGS INC                            | TBS Holdings Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1530400 | NS      | $58045682.56  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| TOPPAN HOLDINGS INC                         | TOPPAN Holdings Inc                         | CUSIP: 000000000<br>LEI: 3538003H9W4KIDODQY20 | Long             | EC               | CORP              | JP        |      1747700 | NS      | $44779644.83  | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| TOTALENERGIES SE                            | TotalEnergies SE                            | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |       452010 | NS      | $27531312.12  | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| UPM-KYMMENE OYJ                             | UPM-Kymmene Oyj                             | CUSIP: 000000000<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |      1612437 | NS      | $44159219.21  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| USS CO LTD                                  | USS Co Ltd                                  | CUSIP: 000000000<br>LEI: 5299000RRQD6UZXG4W72 | Long             | EC               | CORP              | JP        |      2626400 | NS      | $30152706.45  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE CORPORATION LTD                     | Venture Corp Ltd                            | CUSIP: 000000000<br>LEI: 254900B1NLZC3J1MAE72 | Long             | EC               | CORP              | SG        |      2862100 | NS      | $30954003.67  | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC (PRE-MERGER)           | Vermilion Energy Inc                        | CUSIP: 923725105<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | EC               | CORP              | CA        |      1724688 | NS      | $13487060.16  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| YOUNGONE CORP                               | Youngone Corp                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       561352 | NS      | $25951583.00  | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| PING AN INSURANCE GROUP CO OF CHINA LTD     | Ping An Insurance Group Co of China Ltd     | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |     10365500 | NS      | $70517422.44  | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| PRADA SPA                                   | PRADA SpA                                   | CUSIP: 000000000<br>LEI: 8156000FE0A2DC5B7852 | Long             | EC               | CORP              | IT        |      4119700 | NS      | $24803098.55  | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| NK LUKOIL PAO                               | LUKOIL PJSC                                 | CUSIP: 000000000<br>LEI: 549300LCJ1UJXHYBWI24 | Long             | EC               | CORP              | RU        |       133228 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PARADE TECHNOLOGIES LTD                     | Parade Technologies Ltd                     | CUSIP: 000000000<br>LEI: 529900D9FDQHQKAQLY02 | Long             | EC               | CORP              | KY        |      1411000 | NS      | $34507570.63  | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| KION GROUP AG                               | KION Group AG                               | CUSIP: 000000000<br>LEI: 5299005KY91C4C6U9H17 | Long             | EC               | CORP              | DE        |       555278 | NS      | $37673145.53  | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays                                    | US DOLLARS                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | NZ        |    -52180000 | OU      | $658146.34    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays                                    | AUSTRALIA DOLLAR                            | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | AU        |     52754000 | OU      | $-304865.36   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays                                    | EURO COUNTRIES                              | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | XX        |    112527000 | OU      | $418442.94    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays                                    | NORWAY KRONA                                | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | NO        |    345877000 | OU      | $-629475.88   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| KONINKLIJKE AHOLD DELHAIZE NV               | Koninklijke Ahold Delhaize NV               | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |       910243 | NS      | $36832529.72  | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR NEDERLAND NV                            | ASR Nederland NV                            | CUSIP: 000000000<br>LEI: 7245000G0HS48PZWUD53 | Long             | EC               | CORP              | NL        |       819637 | NS      | $55775749.99  | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB GROUP PLC                               | AIB Group PLC                               | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | EC               | CORP              | IE        |      5579964 | NS      | $50871094.66  | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| LANDIS+GYR GROUP AG                         | Landis+Gyr Group AG                         | CUSIP: 000000000<br>LEI: 529900PZYVAKCYSLFL19 | Long             | EC               | CORP              | CH        |       303424 | NS      | $24637310.31  | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF GREECE SA                  | National Bank of Greece SA                  | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |      5242698 | NS      | $76341240.69  | 1.96%             |  |  |  | No            |                  2 | On Loan: No      |
| PROSUS NV                                   | Prosus NV                                   | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |      1340238 | NS      | $94775001.46  | 2.44%             |  |  |  | No            |                  2 | On Loan: No      |
| WH GROUP LTD                                | WH Group Ltd                                | CUSIP: 000000000<br>LEI: 254900A4AYEDRWYSE928 | Long             | EC               | CORP              | KY        |     31334250 | NS      | $33933459.25  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| JD SPORTS FASHION PLC                       | JD Sports Fashion PLC                       | CUSIP: 000000000<br>LEI: 213800HROV6Y9MUU8375 | Long             | EC               | CORP              | GB        |     24458051 | NS      | $31486048.47  | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| TP ICAP GROUP PLC                           | TP ICAP Group PLC                           | CUSIP: 000000000<br>LEI: 2138006YAA7IRVKKGE63 | Long             | EC               | CORP              | JE        |     11292335 | NS      | $41955881.99  | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVO NORDISK A/S                            | Novo Nordisk A/S                            | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |       603723 | NS      | $33616303.15  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| SHELL PLC                                   | Shell PLC                                   | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      1959468 | NS      | $70281105.50  | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| MACNICA HOLDINGS INC                        | Macnica Holdings Inc                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2793700 | NS      | $38656801.06  | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| ING GROEP NV                                | ING Groep NV                                | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |      3528983 | NS      | $92514956.37  | 2.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Citi                                        | US DOLLARS                                  | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | JP        | -22800182000 | OU      | $811503.37    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TEAMVIEWER SE                               | TeamViewer SE                               | CUSIP: 000000000<br>LEI: 3912000FZ0R0KEK9JS42 | Long             | EC               | CORP              | DE        |      1196249 | NS      | $12215195.46  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| JUMBO SA                                    | JUMBO SA                                    | CUSIP: 000000000<br>LEI: 549300TGIVUUMY40MZ05 | Long             | EC               | CORP              | GR        |      1441806 | NS      | $49462223.19  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| KAKAKU.COM INC.                             | Kakaku.com Inc                              | CUSIP: 000000000<br>LEI: 353800KA15Y0DCPWYY65 | Long             | EC               | CORP              | JP        |      1379200 | NS      | $23687573.71  | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| KASPIKZ AO                                  | Kaspi.KZ JSC                                | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |       267154 | NS      | $21821138.72  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDEN CORP                                 | Kinden Corp                                 | CUSIP: 000000000<br>LEI: 35380008T6JUN5TU9T34 | Long             | EC               | CORP              | JP        |       900400 | NS      | $30789269.46  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| KOMATSU LTD                                 | Komatsu Ltd                                 | CUSIP: 000000000<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |      1453900 | NS      | $50649820.24  | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| LANXESS                                     | LANXESS AG                                  | CUSIP: 000000000<br>LEI: 529900PTLRE72EMYIJ77 | Long             | EC               | CORP              | DE        |       414614 | NS      | $10323593.23  | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| MARKS AND SPENCER GROUP PLC                 | Marks & Spencer Group PLC                   | CUSIP: 000000000<br>LEI: 213800EJP14A79ZG1X44 | Long             | EC               | CORP              | GB        |     15248639 | NS      | $74811794.61  | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| MATSUKIYOCOCOKARA & CO                      | MatsukiyoCocokara & Co                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2976600 | NS      | $60463917.23  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI UFJ FINANCIAL GROUP              | Mitsubishi UFJ Financial Group Inc          | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |      4349900 | NS      | $70169883.65  | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| NITERRA CO LTD                              | Niterra Co Ltd                              | CUSIP: 000000000<br>LEI: 549300RG3XQGTFM4HH31 | Long             | EC               | CORP              | JP        |      1400500 | NS      | $54023308.25  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| FURUNO ELECTRIC                             | Furuno Electric Co Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       425600 | NS      | $16278105.15  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| NESTLE SA                                   | Nestle SA                                   | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |       218976 | NS      | $20109714.39  | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                         | Nomura Holdings Inc                         | CUSIP: 000000000<br>LEI: 549300B3CEAHYG7K8164 | Long             | EC               | CORP              | JP        |      4381000 | NS      | $32106921.40  | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| ACADIA PHARMACEUTICALS INC                  | ACADIA Pharmaceuticals Inc                  | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |       308555 | NS      | $6584563.70   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AMANO CORP                                  | Amano Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       744800 | NS      | $21108630.43  | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| DCC PLC                                     | DCC PLC                                     | CUSIP: 000000000<br>LEI: 213800UPS1QEE4TD3T45 | Long             | EC               | CORP              | IE        |       295088 | NS      | $18995385.41  | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM INTERNATIONAL NV                        | ASM International NV                        | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |        95773 | NS      | $57765460.44  | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| ASTRAZENECA PLC                             | AstraZeneca PLC                             | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      1057700 | NS      | $81146744.00  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                      | AXA SA                                      | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |      1294266 | NS      | $62066542.40  | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| BOC HONG KONG HOLDINGS LTD                  | BOC Hong Kong Holdings Ltd                  | CUSIP: 000000000<br>LEI: 254900JB98W77JDJMW15 | Long             | EC               | CORP              | HK        |     10177000 | NS      | $47676946.27  | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| COMPAGNIE DE SAINT GOBAIN SA                | Cie de Saint-Gobain SA                      | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |       420769 | NS      | $45590979.50  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| CAMECO CORP                                 | Cameco Corp                                 | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |       205811 | NS      | $17259310.46  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BUZZI SPA                                   | Buzzi SpA                                   | CUSIP: 000000000<br>LEI: 5299003DX5YLKSVJ6K59 | Long             | EC               | CORP              | IT        |      1003013 | NS      | $55270967.22  | 1.42%             |  |  |  | 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        |     48814716 | NS      | $48800072.03  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DUERR AG                                    | Duerr AG                                    | CUSIP: 000000000<br>LEI: 5299003APZ54EDTSRO20 | Long             | EC               | CORP              | DE        |       566536 | NS      | $13343077.53  | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| FRESENIUS MEDICAL CARE AG                   | Fresenius Medical Care AG                   | CUSIP: 000000000<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |       685898 | NS      | $36241178.49  | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| GALAPAGOS NV                                | Galapagos NV                                | CUSIP: 36315X101<br>LEI: 549300QKJ78IY0IOV655 | Long             | EC               | CORP              | BE        |       399249 | NS      | $13829985.36  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| HITACHI LTD                                 | Hitachi Ltd                                 | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |      1231800 | NS      | $32634161.76  | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCHE HOLDING AG                            | Roche Holding AG                            | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |        68321 | NS      | $22749770.24  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| IMPALA PLATINUM HOLDINGS LTD                | Impala Platinum Holdings Ltd                | CUSIP: 000000000<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |      2016933 | NS      | $25721535.34  | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS PLC                         | Imperial Brands PLC                         | CUSIP: 000000000<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |       890964 | NS      | $37849444.23  | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| INSMED                                      | Insmed Inc                                  | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |        92769 | NS      | $13359663.69  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES MSCI EAFE INDEX FUND                | iShares MSCI EAFE ETF                       | CUSIP: 464287465<br>LEI: 549300O0XO3KDQV68404 | Long             | EC               | RF                | US        |       944727 | NS      | $88209159.99  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| IHI CORP                                    | IHI Corp                                    | CUSIP: 000000000<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |       868000 | NS      | $16165870.77  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| ITAU UNIBANCO HOLDING SA                    | Itau Unibanco Holding SA                    | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |      6941196 | NS      | $50948378.64  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU CORPORATION                          | ITOCHU Corp                                 | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |      1139700 | NS      | $64847102.03  | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| KONTRON AG                                  | Kontron AG                                  | CUSIP: 000000000<br>LEI: 5299002PSXXMVHB26433 | Long             | EC               | CORP              | AT        |      1042227 | NS      | $33686985.06  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVARTIS AG                                 | Novartis AG                                 | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |       303185 | NS      | $38983039.80  | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NORTHERN STAR RESOURCES LTD                 | Northern Star Resources Ltd                 | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |      5143999 | NS      | $80325193.87  | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| OTSUKA CORP                                 | Otsuka Corp                                 | CUSIP: 000000000<br>LEI: 529900RG9DJ58J3UIE72 | Long             | EC               | CORP              | JP        |      1787400 | NS      | $37310554.98  | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| PALADIN ENERGY LTD                          | Paladin Energy Ltd                          | CUSIP: 000000000<br>LEI: 549300M44UTJAP8J6B37 | Long             | EC               | CORP              | AU        |      6290538 | NS      | $34747191.26  | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| PAN AMERICAN SILVER CORP                    | Pan American Silver Corp                    | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |      1154100 | NS      | $44698293.00  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SA | Powszechna Kasa Oszczednosci Bank Polski SA | CUSIP: 000000000<br>LEI: P4GTT6GF1W40CVIMFR43 | Long             | EC               | CORP              | PL        |      3108671 | NS      | $60403634.99  | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| PRIMO BRANDS CORP                           | Primo Brands Corp                           | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |      2595590 | NS      | $57362539.00  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SANWA HOLDINGS CORP                         | Sanwa Holdings Corp                         | CUSIP: 000000000<br>LEI: 5299003X6BCA4ROO5A70 | Long             | EC               | CORP              | JP        |      1070500 | NS      | $30603993.90  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD                  | Samsung Electronics Co Ltd                  | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |       933907 | NS      | $55988030.74  | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| SANKYO CO LTD                               | Sankyo Co Ltd                               | CUSIP: 000000000<br>LEI: 3538009H2R9ZBZAOAK48 | Long             | EC               | CORP              | JP        |      3692300 | NS      | $64149040.21  | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| SANOFI SA                                   | Sanofi SA                                   | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |       615779 | NS      | $58310517.75  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| SANTOS LTD                                  | Santos Ltd                                  | CUSIP: 000000000<br>LEI: 5299000RK70B5O2M7077 | Long             | EC               | CORP              | AU        |     10490187 | NS      | $46585451.11  | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| SHIMAMURA CO LTD                            | Shimamura Co Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       692700 | NS      | $46317709.70  | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA                         | Societe Generale SA                         | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |       164125 | NS      | $10926838.57  | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| SUMITOMO CORPORATION                        | Sumitomo Corp                               | CUSIP: 000000000<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |       643600 | NS      | $18621275.43  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| EMAAR PROPERTIES PJSC                       | Emaar Properties PJSC                       | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |     13992491 | NS      | $49713999.96  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIP HEALTHCARE HOLDINGS INC                | Ship Healthcare Holdings Inc                | CUSIP: 000000000<br>LEI: 353800BIFUE1L527TH13 | Long             | EC               | CORP              | JP        |      1286800 | NS      | $19895162.44  | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| SALMAR ASA                                  | Salmar ASA                                  | CUSIP: 000000000<br>LEI: 5967007LIEEXZXGDBK67 | Long             | EC               | CORP              | NO        |       560935 | NS      | $29995130.69  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| WHITECAP RESOURCES INC(PRE-MERGER)          | Whitecap Resources Inc                      | CUSIP: 000000000<br>LEI: 894500O7XZ1G8OL9CB28 | Long             | EC               | CORP              | CA        |      6483693 | NS      | $49476769.17  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Citi                                        | SWISS FRANC                                 | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | CH        |     77006000 | OU      | $229504.06    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL LTD                         | Burford Capital Ltd                         | CUSIP: G17977110<br>LEI: 549300FUKUWFYJMT2277 | Long             | EC               | CORP              | GG        |      2522192 | NS      | $30165416.32  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUTTER ENTERTAINMENT PLC                   | Flutter Entertainment PLC                   | CUSIP: G3643J108<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | IE        |       197197 | NS      | $50088038.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ PHARMACEUTICALS PLC                    | Jazz Pharmaceuticals PLC                    | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |       230949 | NS      | $30439078.20  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                 | US DOLLARS                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              | CORP              | CA        |    -32265000 | OU      | $273213.68    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC                                        | US DOLLARS                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | SG        |    -49655000 | OU      | $222752.26    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC                                        | AUSTRALIA DOLLAR                            | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | AU        |    181964000 | OU      | $294599.72    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC                                        | DANISH KRONA                                | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | DK        |    172856000 | OU      | $100874.38    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC                                        | NEW ZEALAND DOLLAR                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | NZ        |     65369000 | OU      | $-1210176.30  | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan                                    | US DOLLARS                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | GB        |     -2913000 | OU      | $-16.60       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CHECK POINT SOFTWARE TECH LTD.              | Check Point Software Technologies Ltd       | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |       404003 | NS      | $83592260.73  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                              | US DOLLARS                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | AU        |    -11868000 | OU      | $-43339.56    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                              | US DOLLARS                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | CA        |   -231074000 | OU      | $492292.35    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                              | US DOLLARS                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | XX        |    -23069000 | OU      | $252467.13    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JBS NV                                      | JBS NV                                      | CUSIP: N4732M103<br>LEI: 254900JSFON4WL81TW77 | Long             | EC               | CORP              | NL        |      1821858 | NS      | $27200332.48  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street                                | US DOLLARS                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | KW        | -43091202000 | OU      | $360849.91    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street                                | US DOLLARS                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | TW        |  -4206784000 | OU      | $665495.12    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street                                | BRITISH POUND                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | GB        |      5734000 | OU      | $-114751.67   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street                                | JAPANESE YEN                                | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | JP        |   1158466000 | OU      | $48414.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street                                | NORWAY KRONA                                | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | NO        |    231089000 | OU      | $-70928.02    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS                                         | US DOLLARS                                  | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | SE        |   -433776000 | OU      | $622513.57    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS                                         | BRITISH POUND                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | GB        |    117741000 | OU      | $-907429.86   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS                                         | SWEDISH KRONA                               | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | SE        |    795774000 | OU      | $-560150.51   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                              | VIX US 10/22/25 C20                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |         8089 | NC      | $780588.50    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                              | Pan American Silver Corp                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | CA        |        -3008 | NC      | $-270720.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-21

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

**Signature:** Martha Skinner

**Name of Signer:** Martha Skinner

**Title:** Assistant Treasurer