![](https://capedge.com/proxy/NPORT-P/0001145549-24-030548/imga3a6a9331.jpg)
Columbia Variable Portfolio – Global Strategic Income Fund
First Quarter Report
March 31, 2024 (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.
Not FDIC or NCUA Insured | No Financial Institution Guarantee | May Lose Value |
Portfolio of InvestmentsColumbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)(Percentages represent value of investments compared to net assets)
Investments in securities
Asset-Backed Securities - Non-Agency 7.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cayman Islands 0.6% | ||||
Octagon Investment Partners Ltd.(a),(b) | ||||
Series 2018-18A Class A2 | ||||
3-month Term SOFR + 1.732% 04/16/2031 | 7.046% | 500,000 | 498,476 | |
United States 6.9% | ||||
Affirm Asset Securitization Trust(a) | ||||
Series 2023-A Class 1A | ||||
01/18/2028 | 6.610% | 250,000 | 251,527 | |
Series 2023-B Class 1A | ||||
09/15/2028 | 6.820% | 300,000 | 304,445 | |
Conn’s Receivables Funding LLC(a) | ||||
Series 2023-A Class A | ||||
01/17/2028 | 8.010% | 65,974 | 66,105 | |
Exeter Automobile Receivables Trust(c) | ||||
Series 2024-2A Class A2 | ||||
05/15/2026 | 5.700% | 500,000 | 500,011 | |
Exeter Automobile Receivables Trust(a) | ||||
Subordinated Series 2021-2A Class E | ||||
07/17/2028 | 2.900% | 600,000 | 560,550 | |
GLS Auto Receivables Issuer Trust(a) | ||||
Subordinated Series 2022-1A-B Class B | ||||
05/15/2026 | 2.840% | 143,252 | 142,568 | |
LL ABS Trust(a) | ||||
Series 2021-1A Class A | ||||
05/15/2029 | 1.070% | 4,660 | 4,649 | |
Subordinated Series 2022-2A Class C | ||||
05/15/2030 | 8.400% | 500,000 | 508,861 | |
Marlette Funding Trust(a) | ||||
Series 2021-1A Class D | ||||
06/16/2031 | 2.470% | 400,000 | 389,213 | |
Netcredit Combined Receivables LLC(a),(d) | ||||
Series 2023-A Class A | ||||
12/20/2027 | 7.780% | 168,353 | 168,668 | |
Oportun Issuance Trust(a) | ||||
Series 2022-3 Class A | ||||
01/08/2030 | 7.451% | 64,375 | 64,387 | |
Pagaya AI Debt Trust(a) | ||||
Series 2022-5 Class A | ||||
06/17/2030 | 8.096% | 105,147 | 106,275 | |
Series 2023-3 Class A | ||||
12/16/2030 | 7.600% | 168,704 | 169,896 | |
Series 2023-6 Class A | ||||
06/16/2031 | 7.128% | 290,627 | 291,662 | |
Series 2024-1 Class A | ||||
07/15/2031 | 6.660% | 500,000 | 501,804 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Research-Driven Pagaya Motor Asset Trust(a) | ||||
Series 2023-4A Class A | ||||
03/25/2032 | 7.540% | 394,171 | 394,372 | |
RR 3 Ltd.(a),(b) | ||||
Series 2014-14A Class A1R2 | ||||
3-month Term SOFR + 1.352% Floor 1.090% 01/15/2030 | 6.666% | 182,435 | 182,464 | |
Santander Drive Auto Receivables Trust | ||||
Series 2023-2 Class A2 | ||||
03/16/2026 | 5.870% | 83,779 | 83,792 | |
Theorem Funding Trust(a) | ||||
Series 2022-3A Class A | ||||
04/15/2029 | 7.600% | 187,556 | 188,960 | |
Series 2023-1A Class A | ||||
04/15/2029 | 7.580% | 285,389 | 287,886 | |
Subordinated Series 2021-1A Class B | ||||
12/15/2027 | 1.840% | 95,168 | 94,994 | |
Upstart Pass-Through Trust(a) | ||||
Series 2021-ST6 Class A | ||||
08/20/2027 | 1.850% | 125,190 | 121,852 | |
Upstart Structured Pass-Through Trust(a) | ||||
Series 2022-1A Class A | ||||
04/15/2030 | 3.400% | 241,381 | 236,786 | |
Total | 5,621,727 | |||
Total Asset-Backed Securities — Non-Agency (Cost $6,138,627) | 6,120,203 | |||
Commercial Mortgage-Backed Securities - Non-Agency(e) 1.1% | ||||
United Kingdom 0.4% | ||||
Tesco Property Finance 3 PLC(a) | ||||
04/13/2040 | 5.744% | GBP | 264,080 | 340,025 |
United States 0.7% | ||||
Credit Suisse Mortgage Capital Certificates OA LLC(a) | ||||
Subordinated Series 2014-USA Class E | ||||
09/15/2037 | 4.373% | 750,000 | 383,520 | |
Subordinated Series 2014-USA Class F | ||||
09/15/2037 | 4.373% | 160,000 | 55,904 | |
Hilton USA Trust(a),(f) | ||||
Subordinated Series 2016-SFP Class F | ||||
11/05/2035 | 0.000% | 550,000 | 16,437 |
2
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Commercial Mortgage-Backed Securities - Non-Agency(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Progress Residential Trust(a) | ||||
Series 2020-SFR1 Class F | ||||
04/17/2037 | 3.431% | 100,000 | 96,596 | |
Total | 552,457 | |||
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost $1,860,768) | 892,482 | |||
Convertible Bonds 0.0% | ||||
United States 0.0% | ||||
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 31,000 | 19,297 | |
Total Convertible Bonds (Cost $28,909) | 19,297 | |||
Corporate Bonds & Notes(e) 50.2% | ||||
Australia 0.6% | ||||
APT Pipelines Ltd.(a) | ||||
07/15/2030 | 2.000% | EUR | 300,000 | 293,766 |
Ausgrid Finance Pty, Ltd.(a) | ||||
10/07/2031 | 0.875% | EUR | 200,000 | 176,615 |
Total | 470,381 | |||
Belgium 0.3% | ||||
Anheuser-Busch InBev SA/NV(a) | ||||
04/02/2040 | 3.700% | EUR | 150,000 | 162,335 |
Telenet Finance Luxembourg Notes Sarl(a) | ||||
03/01/2028 | 3.500% | EUR | 100,000 | 103,030 |
Total | 265,365 | |||
Bermuda 0.4% | ||||
Bacardi Ltd.(a) | ||||
05/15/2048 | 5.300% | 345,000 | 323,757 | |
Canada 0.5% | ||||
1011778 BC ULC/New Red Finance, Inc.(a) | ||||
04/15/2025 | 5.750% | 14,000 | 13,966 | |
01/15/2028 | 4.375% | 62,000 | 58,608 | |
1375209 BC Ltd.(a) | ||||
01/30/2028 | 9.000% | 4,000 | 3,921 | |
Air Canada(a) | ||||
08/15/2026 | 3.875% | 17,000 | 16,244 | |
Bausch Health Companies, Inc.(a) | ||||
10/15/2030 | 14.000% | 1,000 | 587 | |
Baytex Energy Corp.(a) | ||||
04/30/2030 | 8.500% | 30,000 | 31,300 | |
Baytex Energy Corp.(a),(c) | ||||
03/15/2032 | 7.375% | 35,000 | 35,372 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Bombardier, Inc.(a),(c) | ||||
07/01/2031 | 7.250% | 6,000 | 6,017 | |
Clarios Global LP/US Finance Co.(a) | ||||
05/15/2028 | 6.750% | 16,000 | 16,211 | |
GFL Environmental, Inc.(a) | ||||
08/01/2025 | 3.750% | 18,000 | 17,548 | |
12/15/2026 | 5.125% | 14,000 | 13,752 | |
08/01/2028 | 4.000% | 41,000 | 37,797 | |
01/15/2031 | 6.750% | 30,000 | 30,745 | |
Hudbay Minerals, Inc.(a) | ||||
04/01/2026 | 4.500% | 5,000 | 4,832 | |
04/01/2029 | 6.125% | 60,000 | 59,313 | |
Panther BF Aggregator 2 LP/Finance Co., Inc.(a) | ||||
05/15/2026 | 6.250% | 39,000 | 38,974 | |
05/15/2027 | 8.500% | 21,000 | 21,028 | |
Videotron Ltd.(a) | ||||
06/15/2029 | 3.625% | 23,000 | 20,773 | |
Total | 426,988 | |||
Colombia 0.2% | ||||
Millicom International Cellular SA(a) | ||||
03/25/2029 | 6.250% | 180,000 | 175,252 | |
Finland 0.1% | ||||
Teollisuuden Voima OYJ(a) | ||||
02/04/2025 | 2.125% | EUR | 100,000 | 106,211 |
France 2.2% | ||||
Altice France SA(a) | ||||
02/01/2027 | 8.125% | 8,000 | 6,243 | |
01/15/2028 | 5.500% | 24,000 | 17,116 | |
07/15/2029 | 5.125% | 23,000 | 15,556 | |
10/15/2029 | 5.500% | 25,000 | 16,828 | |
Cab SELAS(a) | ||||
02/01/2028 | 3.375% | EUR | 100,000 | 97,633 |
Credit Agricole SA(a) | ||||
02/24/2029 | 1.125% | EUR | 200,000 | 195,770 |
Crown European Holdings SA(a) | ||||
09/30/2024 | 2.625% | EUR | 100,000 | 106,940 |
Elis SA(a) | ||||
04/11/2024 | 1.750% | EUR | 100,000 | 107,777 |
Faurecia SE(a) | ||||
06/15/2027 | 2.375% | EUR | 100,000 | 101,682 |
Foncia Management SASU(a) | ||||
03/31/2028 | 3.375% | EUR | 100,000 | 92,122 |
Getlink SE(a) | ||||
10/30/2025 | 3.500% | EUR | 100,000 | 106,806 |
Iliad Holding SA(a) | ||||
10/15/2026 | 5.125% | EUR | 100,000 | 106,707 |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
3
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Iliad Holding SAS(a) | ||||
10/15/2026 | 6.500% | 43,000 | 42,560 | |
10/15/2028 | 7.000% | 29,000 | 28,710 | |
iliad SA(a) | ||||
06/17/2026 | 2.375% | EUR | 100,000 | 103,286 |
Paprec Holding SA(a) | ||||
07/01/2028 | 3.500% | EUR | 100,000 | 102,649 |
Rexel SA(a) | ||||
06/15/2028 | 2.125% | EUR | 100,000 | 100,075 |
SANEF SA(a) | ||||
03/16/2026 | 1.875% | EUR | 200,000 | 209,156 |
Valeo(a) | ||||
06/18/2025 | 1.500% | EUR | 100,000 | 104,800 |
Veolia Environnement SA(a),(g),(h) | ||||
2.250% | EUR | 100,000 | 102,725 | |
Total | 1,765,141 | |||
Germany 3.1% | ||||
Amprion GmbH(a) | ||||
09/23/2033 | 0.625% | EUR | 400,000 | 331,900 |
Aroundtown SA(a) | ||||
01/31/2028 | 1.625% | EUR | 300,000 | 270,014 |
Bayer AG(a) | ||||
05/26/2033 | 4.625% | EUR | 100,000 | 111,480 |
Bayer AG(a),(h) | ||||
11/12/2079 | 3.125% | EUR | 100,000 | 95,246 |
Cheplapharm Arzneimittel GmbH(a) | ||||
02/11/2027 | 3.500% | EUR | 100,000 | 104,210 |
Commerzbank AG(a) | ||||
12/04/2026 | 0.500% | EUR | 350,000 | 351,084 |
Deutsche Bank AG(a),(h) | ||||
11/19/2030 | 1.750% | EUR | 100,000 | 94,963 |
Douglas Service GmbH(a) | ||||
04/08/2026 | 6.000% | EUR | 100,000 | 109,381 |
Grand City Properties SA(a) | ||||
01/11/2028 | 0.125% | EUR | 100,000 | 91,369 |
Gruenenthal GmbH(a) | ||||
11/15/2026 | 3.625% | EUR | 100,000 | 105,459 |
IHO Verwaltungs GmbH(a),(i) | ||||
05/15/2028 | 8.750% | EUR | 100,000 | 117,165 |
Mahle GmbH(a) | ||||
05/14/2028 | 2.375% | EUR | 100,000 | 94,183 |
Schaeffler AG(a) | ||||
10/12/2028 | 3.375% | EUR | 100,000 | 103,974 |
Techem Verwaltungsgesellschaft 674 mbH(a) | ||||
07/30/2026 | 6.000% | EUR | 87,920 | 94,679 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Vertical Holdco GmbH(a) | ||||
07/15/2028 | 7.625% | 8,000 | 7,833 | |
Vier Gas Transport GmbH(a) | ||||
09/10/2029 | 0.125% | EUR | 100,000 | 91,392 |
Vonovia SE(a) | ||||
06/28/2028 | 1.875% | EUR | 200,000 | 199,154 |
ZF Finance GmbH(a) | ||||
05/03/2028 | 2.250% | EUR | 100,000 | 98,984 |
Total | 2,472,470 | |||
Gibraltar 0.1% | ||||
888 Acquisitions Ltd.(a) | ||||
07/15/2027 | 7.558% | EUR | 100,000 | 104,408 |
India 0.7% | ||||
GMR Hyderabad International Airport Ltd.(a) | ||||
10/27/2027 | 4.250% | 200,000 | 185,088 | |
ReNew Wind Energy AP2/Power Pvt Ltd.(a) | ||||
07/14/2028 | 4.500% | 200,000 | 182,725 | |
Summit Digitel Infrastructure Ltd.(a) | ||||
08/12/2031 | 2.875% | 200,000 | 166,755 | |
Total | 534,568 | |||
Ireland 0.3% | ||||
Experian Europe DAC(a) | ||||
05/16/2031 | 1.560% | EUR | 200,000 | 191,936 |
GGAM Finance Ltd.(a),(c) | ||||
04/15/2029 | 6.875% | 15,000 | 15,109 | |
James Hardie International Finance DAC(a) | ||||
01/15/2028 | 5.000% | 18,000 | 17,547 | |
Total | 224,592 | |||
Isle of Man 0.2% | ||||
AngloGold Ashanti Holdings PLC | ||||
10/01/2030 | 3.750% | 200,000 | 174,262 | |
Italy 1.2% | ||||
Autostrade per l’Italia SpA(a) | ||||
12/04/2028 | 2.000% | EUR | 200,000 | 199,905 |
09/26/2029 | 1.875% | EUR | 200,000 | 194,958 |
Banca Monte dei Paschi di Siena SpA(a) | ||||
04/28/2025 | 2.625% | EUR | 100,000 | 105,223 |
FIS Fabbrica Italiana Sintetici SpA(a) | ||||
08/01/2027 | 5.625% | EUR | 100,000 | 104,215 |
Lottomatica SpA(a) | ||||
06/01/2028 | 7.125% | EUR | 100,000 | 113,819 |
Nexi SpA(a) | ||||
04/30/2029 | 2.125% | EUR | 100,000 | 96,817 |
4
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Telecom Italia SpA(a) | ||||
07/31/2028 | 7.875% | EUR | 100,000 | 118,355 |
Total | 933,292 | |||
Jersey 0.4% | ||||
Adient Global Holdings Ltd.(a) | ||||
08/15/2024 | 3.500% | EUR | 14,945 | 16,041 |
Galaxy Pipeline Assets Bidco Ltd.(a) | ||||
03/31/2036 | 2.625% | 400,000 | 325,777 | |
Total | 341,818 | |||
Liberia 0.1% | ||||
Royal Caribbean Cruises Ltd.(a) | ||||
07/01/2026 | 4.250% | 39,000 | 37,657 | |
08/31/2026 | 5.500% | 20,000 | 19,807 | |
01/15/2029 | 8.250% | 16,000 | 16,931 | |
01/15/2030 | 7.250% | 24,000 | 24,913 | |
03/15/2032 | 6.250% | 9,000 | 9,070 | |
Total | 108,378 | |||
Luxembourg 0.8% | ||||
Altice Financing SA(a) | ||||
01/15/2025 | 2.250% | EUR | 100,000 | 103,158 |
Altice France Holding SA(a) | ||||
02/15/2028 | 6.000% | 24,000 | 6,575 | |
Eurofins Scientific SE(a),(g),(h) | ||||
6.750% | EUR | 100,000 | 112,905 | |
FAGE International SA/USA Dairy Industry, Inc.(a) | ||||
08/15/2026 | 5.625% | 60,000 | 58,920 | |
Herens Holdco Sarl(a) | ||||
05/15/2028 | 4.750% | 19,000 | 16,622 | |
ION Trading Technologies Sarl(a) | ||||
05/15/2028 | 5.750% | 17,000 | 15,620 | |
Loarre Investments Sarl(a) | ||||
05/15/2029 | 6.500% | EUR | 100,000 | 108,219 |
Matterhorn Telecom SA(a) | ||||
09/15/2026 | 3.125% | EUR | 100,000 | 104,934 |
Sani/Ikos Financial Holdings 1 Sarl(a) | ||||
12/15/2026 | 5.625% | EUR | 100,000 | 105,113 |
Total | 632,066 | |||
Macau 0.2% | ||||
Sands China Ltd.(h) | ||||
06/18/2030 | 4.625% | 200,000 | 183,313 | |
Netherlands 3.3% | ||||
Alcoa Nederland Holding BV(a) | ||||
03/15/2031 | 7.125% | 9,000 | 9,170 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Braskem Netherlands Finance BV(a) | ||||
01/31/2050 | 5.875% | 200,000 | 154,723 | |
Constellium SE(a) | ||||
02/15/2026 | 4.250% | EUR | 100,000 | 107,659 |
06/15/2028 | 5.625% | 28,000 | 27,252 | |
04/15/2029 | 3.750% | 34,000 | 30,616 | |
Darling Global Finance BV(a) | ||||
05/15/2026 | 3.625% | EUR | 100,000 | 106,806 |
Digital Dutch Finco BV(a) | ||||
03/15/2030 | 1.500% | EUR | 200,000 | 187,762 |
E.ON International Finance BV(a) | ||||
06/03/2030 | 6.250% | GBP | 315,000 | 426,719 |
ING Groep NV(a),(h) | ||||
02/01/2030 | 0.250% | EUR | 200,000 | 183,130 |
LKQ European Holdings BV(a) | ||||
04/01/2028 | 4.125% | EUR | 100,000 | 108,169 |
Nobel Bidco BV(a) | ||||
06/15/2028 | 3.125% | EUR | 100,000 | 94,498 |
NXP BV/Funding LLC/USA, Inc. | ||||
05/01/2030 | 3.400% | 30,000 | 27,215 | |
OCI NV(a) | ||||
10/15/2025 | 3.625% | EUR | 90,000 | 95,626 |
OI European Group BV(a) | ||||
02/15/2025 | 2.875% | EUR | 100,000 | 106,451 |
Phoenix PIB Dutch Finance BV(a) | ||||
08/05/2025 | 2.375% | EUR | 100,000 | 104,743 |
PPF Telecom Group BV(a) | ||||
03/27/2026 | 3.125% | EUR | 100,000 | 105,594 |
Repsol International Finance BV(a),(g),(h) | ||||
3.750% | EUR | 100,000 | 105,821 | |
Telefonica Europe BV(a),(g),(h) | ||||
3.875% | EUR | 100,000 | 105,727 | |
Teva Pharmaceutical Finance Netherlands II BV | ||||
05/09/2027 | 3.750% | EUR | 100,000 | 104,529 |
Trivium Packaging Finance BV(a) | ||||
08/15/2026 | 5.500% | 14,000 | 13,781 | |
08/15/2027 | 8.500% | 13,000 | 12,843 | |
United Group BV(a) | ||||
08/15/2028 | 4.625% | EUR | 100,000 | 103,230 |
Volkswagen International Finance NV(a) | ||||
11/16/2038 | 4.125% | EUR | 100,000 | 110,081 |
Vonovia Finance BV(a) | ||||
10/07/2039 | 1.625% | EUR | 200,000 | 148,117 |
VZ Secured Financing BV(a) | ||||
01/15/2032 | 5.000% | 43,000 | 36,917 | |
Ziggo Bond Co. BV(a) | ||||
02/28/2030 | 5.125% | 34,000 | 29,078 |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
5
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Ziggo Bond Finance BV(a) | ||||
01/15/2027 | 6.000% | 7,000 | 6,900 | |
Ziggo BV(a) | ||||
01/15/2030 | 4.875% | 20,000 | 17,947 | |
Total | 2,671,104 | |||
Panama 0.1% | ||||
Carnival Corp.(a) | ||||
03/01/2026 | 7.625% | 20,000 | 20,212 | |
03/01/2027 | 5.750% | 20,000 | 19,797 | |
08/01/2028 | 4.000% | 15,000 | 13,972 | |
08/15/2029 | 7.000% | 7,000 | 7,309 | |
Total | 61,290 | |||
Poland 0.3% | ||||
Canpack SA/Eastern PA Land Investment Holding LLC(a) | ||||
11/01/2025 | 3.125% | 9,000 | 8,651 | |
Canpack SA/US LLC(a) | ||||
11/01/2027 | 2.375% | EUR | 100,000 | 100,043 |
11/15/2029 | 3.875% | 24,000 | 21,244 | |
InPost SA(a) | ||||
07/15/2027 | 2.250% | EUR | 100,000 | 100,932 |
Total | 230,870 | |||
Portugal 0.1% | ||||
EDP - Energias de Portugal SA(a),(h) | ||||
04/23/2083 | 5.943% | EUR | 100,000 | 112,782 |
Singapore 0.2% | ||||
Pfizer Investment Enterprises Pte., Ltd. | ||||
05/19/2033 | 4.750% | 128,000 | 126,118 | |
Spain 0.7% | ||||
Cirsa Finance International Sarl(a) | ||||
07/31/2028 | 7.875% | EUR | 100,000 | 114,316 |
Grifols Escrow Issuer SA(a) | ||||
10/15/2028 | 4.750% | 34,000 | 28,136 | |
Grifols SA(a) | ||||
11/15/2027 | 2.250% | EUR | 100,000 | 94,312 |
Lorca Telecom Bondco SA(a) | ||||
09/18/2027 | 4.000% | EUR | 100,000 | 104,783 |
NorteGas Energia Distribucion SA(a) | ||||
09/28/2027 | 2.065% | EUR | 235,000 | 238,222 |
Total | 579,769 | |||
Sweden 0.5% | ||||
Sagax AB(a) | ||||
01/30/2027 | 1.125% | EUR | 300,000 | 297,370 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Verisure Holding AB(a) | ||||
02/15/2027 | 3.250% | EUR | 100,000 | 103,436 |
Total | 400,806 | |||
Switzerland 0.1% | ||||
SIG Combibloc PurchaseCo Sarl(a) | ||||
06/18/2025 | 2.125% | EUR | 100,000 | 105,428 |
United Kingdom 7.8% | ||||
B&M European Value Retail SA(a) | ||||
07/15/2025 | 3.625% | GBP | 100,000 | 123,454 |
BAE Systems PLC(a) | ||||
02/15/2031 | 1.900% | 350,000 | 284,900 | |
BAT International Finance PLC(a) | ||||
03/25/2025 | 2.750% | EUR | 200,000 | 213,477 |
Bellis Acquisition Co. PLC(a) | ||||
02/16/2026 | 3.250% | GBP | 100,000 | 119,095 |
BP Capital Markets PLC(a),(g),(h) | ||||
3.250% | EUR | 200,000 | 210,106 | |
Cadent Finance PLC(a) | ||||
09/22/2024 | 0.625% | EUR | 330,000 | 350,364 |
03/11/2032 | 0.750% | EUR | 100,000 | 87,308 |
Cadent Finance, PLC(a) | ||||
03/19/2030 | 0.625% | EUR | 200,000 | 182,247 |
Co-operative Group Holdings Ltd.(a),(h) | ||||
07/08/2026 | 7.500% | GBP | 100,000 | 125,758 |
Deuce Finco PLC(a) | ||||
06/15/2027 | 5.500% | GBP | 100,000 | 119,417 |
DS Smith PLC(a) | ||||
07/26/2029 | 2.875% | GBP | 270,000 | 309,471 |
07/27/2030 | 4.500% | EUR | 300,000 | 338,355 |
HBOS PLC(h) | ||||
Subordinated | ||||
03/18/2030 | 4.500% | EUR | 255,000 | 274,294 |
INEOS Finance PLC(a) | ||||
05/01/2026 | 2.875% | EUR | 100,000 | 104,648 |
04/15/2029 | 7.500% | 30,000 | 30,093 | |
INEOS Quattro Finance 2 PLC(a) | ||||
03/15/2029 | 9.625% | 27,000 | 28,982 | |
Jaguar Land Rover Automotive PLC(a) | ||||
01/15/2026 | 4.500% | EUR | 100,000 | 107,985 |
Kane Bidco Ltd.(a) | ||||
02/15/2027 | 5.000% | EUR | 100,000 | 104,198 |
Market Bidco Finco PLC(a) | ||||
11/04/2027 | 5.500% | GBP | 100,000 | 114,637 |
Marks & Spencer PLC(a) | ||||
05/19/2026 | 3.750% | GBP | 100,000 | 121,836 |
6
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
National Grid Electricity Transmission PLC(a) | ||||
07/07/2032 | 0.823% | EUR | 200,000 | 173,241 |
NGG Finance PLC(a),(h) | ||||
09/05/2082 | 2.125% | EUR | 150,000 | 148,868 |
Pinewood Finance Co., Ltd.(a) | ||||
09/30/2025 | 3.250% | GBP | 100,000 | 124,052 |
Pinnacle Bidco PLC(a) | ||||
10/11/2028 | 8.250% | EUR | 100,000 | 112,777 |
Premier Foods Finance PLC(a) | ||||
10/15/2026 | 3.500% | GBP | 100,000 | 120,589 |
Rolls-Royce PLC | ||||
06/18/2026 | 3.375% | GBP | 100,000 | 120,596 |
Royal Bank of Scotland Group PLC(a),(h) | ||||
03/02/2026 | 1.750% | EUR | 335,000 | 354,488 |
Sherwood Financing, PLC(a) | ||||
11/15/2026 | 4.500% | EUR | 100,000 | 99,307 |
Southern Water Services Finance Ltd.(a) | ||||
05/28/2028 | 2.375% | GBP | 200,000 | 221,243 |
Synthomer PLC(a) | ||||
07/01/2025 | 3.875% | EUR | 100,000 | 106,852 |
Thames Water Utilities Finance PLC(a) | ||||
01/31/2028 | 0.875% | EUR | 400,000 | 362,826 |
01/18/2031 | 4.375% | EUR | 100,000 | 100,141 |
Victoria PLC(a) | ||||
08/24/2026 | 3.625% | EUR | 100,000 | 85,536 |
Virgin Media Finance PLC(a) | ||||
07/15/2030 | 5.000% | 18,000 | 15,218 | |
Virgin Media Secured Finance PLC(a) | ||||
04/15/2027 | 5.000% | GBP | 100,000 | 124,586 |
05/15/2029 | 5.500% | 15,000 | 13,866 | |
Virgin Money UK PLC(a),(h) | ||||
06/24/2025 | 2.875% | EUR | 200,000 | 215,126 |
Vmed O2 UK Financing I PLC(a) | ||||
01/31/2029 | 4.000% | GBP | 100,000 | 110,650 |
01/31/2031 | 4.250% | 26,000 | 22,026 | |
07/15/2031 | 4.750% | 38,000 | 32,757 | |
Vodafone Group PLC(a),(h) | ||||
10/03/2078 | 4.200% | EUR | 100,000 | 105,859 |
Western Power Distribution PLC(a) | ||||
10/16/2026 | 3.500% | GBP | 205,000 | 248,317 |
Total | 6,369,546 | |||
United States 25.5% | ||||
AbbVie, Inc. | ||||
03/15/2029 | 4.800% | 108,000 | 108,231 | |
03/15/2034 | 5.050% | 21,000 | 21,260 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Acadia Healthcare Co., Inc.(a) | ||||
07/01/2028 | 5.500% | 4,000 | 3,902 | |
04/15/2029 | 5.000% | 19,000 | 18,048 | |
Acushnet Co.(a) | ||||
10/15/2028 | 7.375% | 4,000 | 4,142 | |
Aetna, Inc. | ||||
08/15/2047 | 3.875% | 35,000 | 26,712 | |
AG Issuer LLC(a) | ||||
03/01/2028 | 6.250% | 5,000 | 4,886 | |
AG TTMT Escrow Issuer LLC(a) | ||||
09/30/2027 | 8.625% | 29,000 | 30,014 | |
Allegheny Technologies, Inc. | ||||
12/01/2027 | 5.875% | 8,000 | 7,884 | |
10/01/2029 | 4.875% | 5,000 | 4,708 | |
10/01/2031 | 5.125% | 21,000 | 19,462 | |
Alliant Holdings Intermediate LLC/Co-Issuer(a) | ||||
10/15/2027 | 6.750% | 45,000 | 44,272 | |
04/15/2028 | 6.750% | 40,000 | 40,251 | |
11/01/2029 | 5.875% | 23,000 | 21,401 | |
01/15/2031 | 7.000% | 35,000 | 35,391 | |
Ally Financial, Inc. | ||||
05/21/2024 | 3.875% | 8,000 | 7,975 | |
Subordinated | ||||
11/20/2025 | 5.750% | 24,000 | 23,830 | |
American Airlines, Inc.(a) | ||||
05/15/2029 | 8.500% | 10,000 | 10,561 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(a) | ||||
04/20/2026 | 5.500% | 33,090 | 32,868 | |
04/20/2029 | 5.750% | 44,343 | 43,620 | |
American Axle & Manufacturing, Inc. | ||||
04/01/2027 | 6.500% | 2,000 | 1,992 | |
American Builders & Contractors Supply Co., Inc.(a) | ||||
01/15/2028 | 4.000% | 65,000 | 60,846 | |
Amgen, Inc. | ||||
03/02/2063 | 5.750% | 71,000 | 72,430 | |
AmWINS Group, Inc.(a) | ||||
02/15/2029 | 6.375% | 20,000 | 20,090 | |
Antero Midstream Partners LP/Finance Corp.(a) | ||||
02/01/2032 | 6.625% | 36,000 | 36,154 | |
APX Group, Inc.(a) | ||||
07/15/2029 | 5.750% | 17,000 | 16,343 | |
Arches Buyer, Inc.(a) | ||||
06/01/2028 | 4.250% | 30,000 | 26,400 | |
12/01/2028 | 6.125% | 34,000 | 28,527 | |
Archrock Partners LP/Finance Corp.(a) | ||||
04/01/2027 | 6.875% | 20,000 | 20,056 | |
04/01/2028 | 6.250% | 11,000 | 10,860 |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
7
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Ardagh Metal Packaging Finance USA LLC/PLC(a) | ||||
06/15/2027 | 6.000% | 39,000 | 37,955 | |
09/01/2028 | 2.000% | EUR | 100,000 | 91,433 |
09/01/2029 | 4.000% | 41,000 | 33,055 | |
Aretec Escrow Issuer 2, Inc.(a) | ||||
08/15/2030 | 10.000% | 25,000 | 27,357 | |
Aretec Escrow Issuer, Inc.(a) | ||||
04/01/2029 | 7.500% | 15,000 | 14,275 | |
Asbury Automotive Group, Inc.(a) | ||||
11/15/2029 | 4.625% | 6,000 | 5,551 | |
Ashland Services BV(a) | ||||
01/30/2028 | 2.000% | EUR | 100,000 | 98,726 |
AssuredPartners, Inc.(a) | ||||
01/15/2029 | 5.625% | 26,000 | 23,948 | |
02/15/2032 | 7.500% | 15,000 | 14,739 | |
AT&T, Inc. | ||||
09/04/2036 | 3.150% | EUR | 100,000 | 101,288 |
Avantor Funding, Inc.(a) | ||||
11/01/2025 | 2.625% | EUR | 100,000 | 105,367 |
07/15/2028 | 4.625% | 21,000 | 19,896 | |
11/01/2029 | 3.875% | 27,000 | 24,350 | |
Avient Corp.(a) | ||||
08/01/2030 | 7.125% | 8,000 | 8,211 | |
Avis Budget Car Rental LLC/Finance, Inc.(a) | ||||
02/15/2031 | 8.000% | 4,000 | 3,992 | |
Axalta Coating Systems LLC(a) | ||||
02/15/2029 | 3.375% | 17,000 | 15,230 | |
Axalta Coating Systems LLC/Dutch Holding B BV(a) | ||||
06/15/2027 | 4.750% | 3,000 | 2,896 | |
Ball Corp. | ||||
03/15/2028 | 6.875% | 8,000 | 8,207 | |
06/15/2029 | 6.000% | 13,000 | 13,121 | |
Bank of America Corp.(a),(h) | ||||
03/22/2031 | 0.694% | EUR | 700,000 | 639,051 |
Bank of America Corp.(h) | ||||
07/21/2032 | 2.299% | 600,000 | 491,120 | |
10/20/2032 | 2.572% | 18,000 | 14,906 | |
Subordinated | ||||
09/21/2036 | 2.482% | 3,000 | 2,397 | |
Bausch & Lomb Escrow Corp.(a) | ||||
10/01/2028 | 8.375% | 16,000 | 16,547 | |
Beacon Roofing Supply, Inc.(a) | ||||
11/15/2026 | 4.500% | 12,000 | 11,664 | |
08/01/2030 | 6.500% | 23,000 | 23,351 | |
Becton Dickinson and Co. | ||||
12/15/2026 | 1.900% | EUR | 300,000 | 311,503 |
Berkshire Hathaway Finance Corp. | ||||
03/18/2030 | 1.500% | EUR | 150,000 | 147,502 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Block, Inc. | ||||
06/01/2026 | 2.750% | 75,000 | 70,595 | |
Boeing Co. (The) | ||||
08/01/2059 | 3.950% | 97,000 | 66,388 | |
Boyd Gaming Corp.(a) | ||||
06/15/2031 | 4.750% | 27,000 | 24,833 | |
Boyne USA, Inc.(a) | ||||
05/15/2029 | 4.750% | 29,000 | 26,896 | |
Bristol-Myers Squibb Co. | ||||
02/22/2064 | 5.650% | 112,000 | 115,322 | |
Broadcom, Inc.(a) | ||||
11/15/2036 | 3.187% | 126,000 | 100,161 | |
BroadStreet Partners, Inc.(a) | ||||
04/15/2029 | 5.875% | 29,000 | 26,845 | |
Caesars Entertainment, Inc.(a) | ||||
10/15/2029 | 4.625% | 51,000 | 46,604 | |
02/15/2030 | 7.000% | 37,000 | 37,984 | |
02/15/2032 | 6.500% | 30,000 | 30,294 | |
Callon Petroleum Co. | ||||
07/01/2026 | 6.375% | 44,000 | 44,468 | |
Callon Petroleum Co.(a) | ||||
06/15/2030 | 7.500% | 16,000 | 16,940 | |
Camelot Finance SA(a) | ||||
11/01/2026 | 4.500% | 10,000 | 9,621 | |
Carnival Holdings Bermuda Ltd.(a) | ||||
05/01/2028 | 10.375% | 11,000 | 12,002 | |
Carrier Global Corp. | ||||
02/15/2030 | 2.722% | 230,000 | 203,429 | |
Catalent Pharma Solutions, Inc.(a) | ||||
03/01/2028 | 2.375% | EUR | 100,000 | 102,500 |
02/15/2029 | 3.125% | 6,000 | 5,735 | |
04/01/2030 | 3.500% | 20,000 | 19,117 | |
CCO Holdings LLC/Capital Corp.(a) | ||||
05/01/2027 | 5.125% | 41,000 | 39,054 | |
06/01/2029 | 5.375% | 10,000 | 9,154 | |
03/01/2030 | 4.750% | 42,000 | 36,027 | |
08/15/2030 | 4.500% | 17,000 | 14,280 | |
02/01/2031 | 4.250% | 53,000 | 43,139 | |
02/01/2032 | 4.750% | 46,000 | 37,587 | |
CCO Holdings LLC/Capital Corp. | ||||
05/01/2032 | 4.500% | 24,000 | 19,279 | |
CD&R Smokey Buyer, Inc.(a) | ||||
07/15/2025 | 6.750% | 41,000 | 40,618 | |
CDI Escrow Issuer, Inc.(a) | ||||
04/01/2030 | 5.750% | 10,000 | 9,648 | |
Cedar Fair LP | ||||
07/15/2029 | 5.250% | 12,000 | 11,362 |
8
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op(a) | ||||
05/01/2025 | 5.500% | 25,000 | 24,930 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op | ||||
04/15/2027 | 5.375% | 23,000 | 22,625 | |
10/01/2028 | 6.500% | 8,000 | 8,011 | |
Centene Corp. | ||||
12/15/2029 | 4.625% | 16,000 | 15,192 | |
02/15/2030 | 3.375% | 16,000 | 14,182 | |
10/15/2030 | 3.000% | 312,000 | 267,449 | |
08/01/2031 | 2.625% | 51,000 | 41,884 | |
Centennial Resource Production LLC(a) | ||||
04/01/2027 | 6.875% | 10,000 | 10,000 | |
Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.(a) | ||||
06/15/2029 | 8.000% | 4,000 | 4,143 | |
Central Parent, Inc./CDK Global, Inc.(a) | ||||
06/15/2029 | 7.250% | 9,000 | 9,194 | |
Charles River Laboratories International, Inc.(a) | ||||
05/01/2028 | 4.250% | 10,000 | 9,439 | |
03/15/2029 | 3.750% | 7,000 | 6,388 | |
03/15/2031 | 4.000% | 9,000 | 8,040 | |
Charter Communications Operating LLC/Capital | ||||
05/01/2047 | 5.375% | 155,000 | 125,142 | |
12/01/2061 | 4.400% | 15,000 | 9,802 | |
06/30/2062 | 3.950% | 11,000 | 6,644 | |
Cheever Escrow Issuer LLC(a) | ||||
10/01/2027 | 7.125% | 16,000 | 16,172 | |
Chobani LLC/Finance Corp., Inc.(a) | ||||
07/01/2029 | 7.625% | 7,000 | 7,103 | |
CHS/Community Health Systems, Inc.(a) | ||||
03/15/2027 | 5.625% | 25,000 | 23,008 | |
04/15/2029 | 6.875% | 19,000 | 14,240 | |
05/15/2030 | 5.250% | 38,000 | 30,998 | |
02/15/2031 | 4.750% | 10,000 | 7,717 | |
Churchill Downs, Inc.(a) | ||||
04/01/2027 | 5.500% | 7,000 | 6,870 | |
05/01/2031 | 6.750% | 9,000 | 9,062 | |
Cigna Group (The) | ||||
02/15/2054 | 5.600% | 20,000 | 20,078 | |
Cinemark USA, Inc.(a) | ||||
03/15/2026 | 5.875% | 15,000 | 14,818 | |
07/15/2028 | 5.250% | 9,000 | 8,522 | |
Citigroup, Inc.(h) | ||||
06/03/2031 | 2.572% | 170,000 | 145,314 | |
01/25/2033 | 3.057% | 113,000 | 95,899 | |
Civitas Resources, Inc.(a) | ||||
07/01/2028 | 8.375% | 8,000 | 8,416 | |
11/01/2030 | 8.625% | 7,000 | 7,515 | |
07/01/2031 | 8.750% | 41,000 | 43,900 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Clarivate Science Holdings Corp.(a) | ||||
07/01/2028 | 3.875% | 12,000 | 11,103 | |
07/01/2029 | 4.875% | 45,000 | 41,629 | |
Clean Harbors, Inc.(a) | ||||
02/01/2031 | 6.375% | 2,000 | 2,014 | |
Clear Channel Outdoor Holdings, Inc.(a) | ||||
04/15/2028 | 7.750% | 15,000 | 13,128 | |
09/15/2028 | 9.000% | 15,000 | 15,625 | |
06/01/2029 | 7.500% | 26,000 | 21,507 | |
Clear Channel Worldwide Holdings, Inc.(a) | ||||
08/15/2027 | 5.125% | 15,000 | 14,158 | |
Clearway Energy Operating LLC(a) | ||||
03/15/2028 | 4.750% | 33,000 | 31,397 | |
02/15/2031 | 3.750% | 51,000 | 43,926 | |
01/15/2032 | 3.750% | 9,000 | 7,576 | |
Cloud Software Group, Inc.(a) | ||||
09/30/2029 | 9.000% | 81,000 | 77,719 | |
Clydesdale Acquisition Holdings, Inc.(a) | ||||
04/15/2030 | 8.750% | 10,000 | 9,824 | |
CMS Energy Corp. | ||||
11/15/2025 | 3.600% | 682,000 | 661,771 | |
CNX Midstream Partners LP(a) | ||||
04/15/2030 | 4.750% | 19,000 | 16,918 | |
CNX Resources Corp.(a) | ||||
01/15/2029 | 6.000% | 9,000 | 8,820 | |
01/15/2031 | 7.375% | 5,000 | 5,087 | |
Colgate Energy Partners III LLC(a) | ||||
07/01/2029 | 5.875% | 22,000 | 21,635 | |
Colt Merger Sub, Inc.(a) | ||||
07/01/2027 | 8.125% | 49,000 | 50,182 | |
Comstock Resources, Inc.(a) | ||||
03/01/2029 | 6.750% | 6,000 | 5,722 | |
01/15/2030 | 5.875% | 16,000 | 14,490 | |
Condor Merger Sub, Inc.(a) | ||||
02/15/2030 | 7.375% | 50,000 | 46,132 | |
Constellation Brands, Inc. | ||||
05/01/2033 | 4.900% | 63,000 | 61,812 | |
CrownRock LP/Finance, Inc.(a) | ||||
10/15/2025 | 5.625% | 40,000 | 39,883 | |
CSC Holdings LLC(a) | ||||
02/01/2028 | 5.375% | 31,000 | 26,664 | |
01/15/2030 | 5.750% | 11,000 | 5,820 | |
12/01/2030 | 4.125% | 41,000 | 29,153 | |
12/01/2030 | 4.625% | 18,000 | 9,144 | |
02/15/2031 | 3.375% | 11,000 | 7,464 | |
11/15/2031 | 5.000% | 5,000 | 2,533 | |
CVS Health Corp. | ||||
07/20/2045 | 5.125% | 147,000 | 135,397 |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
9
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Darling Ingredients, Inc.(a) | ||||
06/15/2030 | 6.000% | 21,000 | 20,819 | |
DaVita, Inc.(a) | ||||
06/01/2030 | 4.625% | 12,000 | 10,741 | |
Delek Logistics Partners LP/Finance Corp.(a) | ||||
03/15/2029 | 8.625% | 31,000 | 31,660 | |
Delta Air Lines, Inc./SkyMiles IP Ltd.(a) | ||||
10/20/2028 | 4.750% | 18,000 | 17,605 | |
DISH DBS Corp.(a) | ||||
12/01/2028 | 5.750% | 17,000 | 11,689 | |
DISH Network Corp.(a) | ||||
11/15/2027 | 11.750% | 32,000 | 32,688 | |
DT Midstream, Inc.(a) | ||||
06/15/2029 | 4.125% | 7,000 | 6,446 | |
06/15/2031 | 4.375% | 37,000 | 33,513 | |
04/15/2032 | 4.300% | 4,000 | 3,629 | |
DTE Energy Co. | ||||
10/01/2026 | 2.850% | 490,000 | 463,553 | |
Duke Energy Corp. | ||||
09/01/2046 | 3.750% | 195,000 | 147,407 | |
Edison International | ||||
11/15/2028 | 5.250% | 24,000 | 23,952 | |
Element Solutions, Inc.(a) | ||||
09/01/2028 | 3.875% | 25,000 | 22,916 | |
Emera US Finance LP | ||||
06/15/2046 | 4.750% | 128,000 | 105,409 | |
Emerald Debt Merger Sub LLC(a) | ||||
12/15/2030 | 6.375% | EUR | 100,000 | 113,323 |
12/15/2030 | 6.625% | 50,000 | 50,482 | |
Encompass Health Corp. | ||||
02/01/2028 | 4.500% | 10,000 | 9,520 | |
Entegris Escrow Corp.(a) | ||||
04/15/2029 | 4.750% | 7,000 | 6,716 | |
06/15/2030 | 5.950% | 23,000 | 22,735 | |
EQM Midstream Partners LP(a) | ||||
07/01/2025 | 6.000% | 16,000 | 16,010 | |
07/01/2027 | 6.500% | 13,000 | 13,125 | |
01/15/2029 | 4.500% | 19,000 | 17,823 | |
04/01/2029 | 6.375% | 11,000 | 11,077 | |
01/15/2031 | 4.750% | 49,000 | 45,632 | |
EQM Midstream Partners LP | ||||
07/15/2048 | 6.500% | 18,000 | 18,046 | |
ERAC USA Finance LLC(a) | ||||
05/01/2028 | 4.600% | 109,000 | 107,627 | |
Esab Corp.(a),(c) | ||||
04/15/2029 | 6.250% | 11,000 | 11,059 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Exelon Corp. | ||||
03/15/2052 | 4.100% | 17,000 | 13,530 | |
03/15/2053 | 5.600% | 45,000 | 44,951 | |
Fertitta Entertainment LLC/Finance Co., Inc.(a) | ||||
01/15/2030 | 6.750% | 25,000 | 22,440 | |
Fidelity National Information Services, Inc. | ||||
05/21/2027 | 1.500% | EUR | 271,000 | 274,801 |
FirstEnergy Corp. | ||||
03/01/2050 | 3.400% | 38,000 | 26,124 | |
Ford Motor Credit Co. LLC | ||||
09/08/2024 | 3.664% | 25,000 | 24,734 | |
11/25/2025 | 2.330% | EUR | 100,000 | 104,954 |
Freeport-McMoRan, Inc. | ||||
09/01/2029 | 5.250% | 36,000 | 36,152 | |
03/15/2043 | 5.450% | 214,000 | 204,618 | |
Frontier Communications Holdings LLC(a) | ||||
05/15/2030 | 8.750% | 12,000 | 12,289 | |
03/15/2031 | 8.625% | 34,000 | 34,713 | |
Gates Global LLC/Co.(a) | ||||
01/15/2026 | 6.250% | 33,000 | 32,916 | |
Georgia Power Co. | ||||
03/15/2042 | 4.300% | 195,000 | 169,825 | |
Goldman Sachs Group, Inc. (The)(h) | ||||
07/21/2032 | 2.383% | 98,000 | 80,334 | |
10/21/2032 | 2.650% | 115,000 | 95,714 | |
GoTo Group, Inc.(a) | ||||
05/01/2028 | 5.500% | 13,510 | 9,113 | |
05/01/2028 | 5.500% | 8,601 | 7,454 | |
GTCR W-2 Merger Sub LLC(a) | ||||
01/15/2031 | 7.500% | 41,000 | 42,933 | |
H&E Equipment Services, Inc.(a) | ||||
12/15/2028 | 3.875% | 22,000 | 20,141 | |
Hanesbrands, Inc.(a) | ||||
05/15/2026 | 4.875% | 8,000 | 7,797 | |
02/15/2031 | 9.000% | 7,000 | 7,190 | |
Hawaiian Brand Intellectual Property Ltd./Miles Loyalty Ltd.(a) | ||||
01/20/2026 | 5.750% | 37,585 | 35,360 | |
HB Fuller Co. | ||||
10/15/2028 | 4.250% | 27,000 | 25,037 | |
HCA, Inc. | ||||
09/01/2030 | 3.500% | 128,000 | 115,691 | |
HealthEquity, Inc.(a) | ||||
10/01/2029 | 4.500% | 19,000 | 17,562 | |
Helios Software Holdings, Inc.(a) | ||||
05/01/2028 | 4.625% | 19,000 | 17,038 | |
Herc Holdings, Inc.(a) | ||||
07/15/2027 | 5.500% | 17,000 | 16,706 |
10
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Hess Midstream Operations LP(a) | ||||
02/15/2026 | 5.625% | 42,000 | 41,653 | |
HF Sinclair Corp.(a) | ||||
04/15/2027 | 6.375% | 15,000 | 15,088 | |
02/01/2028 | 5.000% | 27,000 | 26,243 | |
Hightower Holding LLC(a) | ||||
04/15/2029 | 6.750% | 16,000 | 15,026 | |
Hilcorp Energy I LP/Finance Co.(a) | ||||
11/01/2028 | 6.250% | 5,000 | 4,996 | |
02/01/2029 | 5.750% | 7,000 | 6,827 | |
04/15/2030 | 6.000% | 26,000 | 25,439 | |
02/01/2031 | 6.000% | 36,000 | 35,084 | |
04/15/2032 | 6.250% | 9,000 | 8,881 | |
11/01/2033 | 8.375% | 16,000 | 17,318 | |
Hilton Domestic Operating Co., Inc.(a) | ||||
05/01/2025 | 5.375% | 13,000 | 12,972 | |
Hilton Grand Vacations Borrower Escrow LLC(a) | ||||
01/15/2032 | 6.625% | 16,000 | 16,047 | |
Honeywell International, Inc. | ||||
11/02/2034 | 4.125% | EUR | 334,000 | 380,288 |
HUB International Ltd.(a) | ||||
12/01/2029 | 5.625% | 44,000 | 41,262 | |
01/31/2032 | 7.375% | 25,000 | 25,194 | |
HUB International, Ltd.(a) | ||||
06/15/2030 | 7.250% | 44,000 | 45,255 | |
iHeartCommunications, Inc. | ||||
05/01/2026 | 6.375% | 16,082 | 13,693 | |
05/01/2027 | 8.375% | 20,385 | 11,356 | |
iHeartCommunications, Inc.(a) | ||||
08/15/2027 | 5.250% | 8,000 | 5,737 | |
01/15/2028 | 4.750% | 12,000 | 8,418 | |
Illuminate Buyer LLC/Holdings IV, Inc.(a) | ||||
07/01/2028 | 9.000% | 15,000 | 14,886 | |
Ingevity Corp.(a) | ||||
11/01/2028 | 3.875% | 24,000 | 21,682 | |
Innophos Holdings, Inc.(a) | ||||
02/15/2028 | 9.375% | 15,000 | 12,549 | |
International Business Machines Corp. | ||||
02/06/2031 | 3.625% | EUR | 245,000 | 269,915 |
IQVIA, Inc.(a) | ||||
05/15/2027 | 5.000% | 15,000 | 14,644 | |
01/15/2028 | 2.250% | EUR | 100,000 | 100,063 |
05/15/2030 | 6.500% | 9,000 | 9,186 | |
IRB Holding Corp.(a) | ||||
06/15/2025 | 7.000% | 41,000 | 41,052 | |
Iris Holdings, Inc.(a),(i) | ||||
02/15/2026 | 8.750% | 14,000 | 12,052 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Iron Mountain, Inc.(a) | ||||
09/15/2027 | 4.875% | 39,000 | 37,662 | |
03/15/2028 | 5.250% | 26,000 | 25,160 | |
JPMorgan Chase & Co.(a),(h) | ||||
07/25/2031 | 1.001% | EUR | 600,000 | 558,782 |
JPMorgan Chase & Co.(h) | ||||
04/22/2032 | 2.580% | 80,000 | 67,538 | |
11/08/2032 | 2.545% | 191,000 | 158,826 | |
Kaiser Aluminum Corp.(a) | ||||
03/01/2028 | 4.625% | 4,000 | 3,760 | |
06/01/2031 | 4.500% | 15,000 | 13,293 | |
KAR Auction Services, Inc.(a) | ||||
06/01/2025 | 5.125% | 8,000 | 7,871 | |
Kinder Morgan Energy Partners LP | ||||
03/01/2043 | 5.000% | 105,000 | 93,090 | |
09/01/2044 | 5.400% | 40,000 | 37,269 | |
Kinder Morgan, Inc. | ||||
02/15/2046 | 5.050% | 22,000 | 19,567 | |
Kodiak Gas Services LLC(a) | ||||
02/15/2029 | 7.250% | 25,000 | 25,485 | |
Kraft Heinz Foods Co.(a) | ||||
05/25/2028 | 2.250% | EUR | 400,000 | 413,153 |
L Brands, Inc.(a) | ||||
07/01/2025 | 9.375% | 4,000 | 4,172 | |
10/01/2030 | 6.625% | 5,000 | 5,116 | |
L Brands, Inc. | ||||
06/15/2029 | 7.500% | 7,000 | 7,291 | |
11/01/2035 | 6.875% | 16,000 | 16,345 | |
L3Harris Technologies, Inc. | ||||
07/31/2033 | 5.400% | 10,000 | 10,067 | |
Ladder Capital Finance Holdings LLLP/Corp.(a) | ||||
10/01/2025 | 5.250% | 50,000 | 49,144 | |
02/01/2027 | 4.250% | 5,000 | 4,675 | |
06/15/2029 | 4.750% | 40,000 | 36,342 | |
Lamb Weston Holdings, Inc.(a) | ||||
01/31/2030 | 4.125% | 16,000 | 14,598 | |
LCM Investments Holdings II LLC(a) | ||||
05/01/2029 | 4.875% | 27,000 | 24,812 | |
08/01/2031 | 8.250% | 15,000 | 15,680 | |
Leeward Renewable Energy Operations LLC(a) | ||||
07/01/2029 | 4.250% | 5,000 | 4,303 | |
Light & Wonder International, Inc.(a) | ||||
09/01/2031 | 7.500% | 5,000 | 5,203 | |
Lithia Motors, Inc.(a) | ||||
01/15/2031 | 4.375% | 8,000 | 7,167 | |
Live Nation Entertainment, Inc.(a) | ||||
03/15/2026 | 5.625% | 36,000 | 35,615 |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
11
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Lockheed Martin Corp. | ||||
08/15/2034 | 4.800% | 16,000 | 15,826 | |
Lowe’s Companies, Inc. | ||||
04/01/2062 | 4.450% | 80,000 | 65,341 | |
09/15/2062 | 5.800% | 3,000 | 3,071 | |
Madison IAQ LLC(a) | ||||
06/30/2028 | 4.125% | 29,000 | 26,828 | |
06/30/2029 | 5.875% | 16,000 | 14,668 | |
Matador Resources Co. | ||||
09/15/2026 | 5.875% | 37,000 | 37,027 | |
Matador Resources Co.(a) | ||||
04/15/2028 | 6.875% | 11,000 | 11,261 | |
Matador Resources Co.(a),(c) | ||||
04/15/2032 | 6.500% | 21,000 | 21,037 | |
Match Group Holdings II LLC(a) | ||||
10/01/2031 | 3.625% | 25,000 | 21,248 | |
Match Group, Inc.(a) | ||||
12/15/2027 | 5.000% | 27,000 | 25,924 | |
Mattel, Inc.(a) | ||||
04/01/2026 | 3.375% | 6,000 | 5,736 | |
Medline Borrower LP/Co-Issuer, Inc.(a) | ||||
04/01/2029 | 6.250% | 16,000 | 16,072 | |
Meritage Homes Corp.(a) | ||||
04/15/2029 | 3.875% | 18,000 | 16,550 | |
Midwest Gaming Borrower LLC(a) | ||||
05/01/2029 | 4.875% | 24,000 | 22,216 | |
Minerva Merger Sub, Inc.(a) | ||||
02/15/2030 | 6.500% | 37,000 | 33,879 | |
Morgan Stanley(h) | ||||
07/21/2032 | 2.239% | 25,000 | 20,387 | |
10/20/2032 | 2.511% | 216,000 | 178,482 | |
07/21/2034 | 5.424% | 19,000 | 19,059 | |
Subordinated | ||||
09/16/2036 | 2.484% | 100,000 | 79,045 | |
Mozart Debt Merger Sub, Inc.(a) | ||||
04/01/2029 | 3.875% | 8,000 | 7,282 | |
10/01/2029 | 5.250% | 79,000 | 74,671 | |
Nabors Industries Ltd.(a) | ||||
01/15/2026 | 7.250% | 10,000 | 9,928 | |
01/15/2028 | 7.500% | 26,000 | 24,376 | |
Nabors Industries, Inc.(a) | ||||
05/15/2027 | 7.375% | 10,000 | 9,982 | |
01/31/2030 | 9.125% | 16,000 | 16,640 | |
Navient Corp. | ||||
03/15/2028 | 4.875% | 26,000 | 24,176 | |
03/15/2031 | 11.500% | 22,000 | 24,511 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
NCL Corp., Ltd.(a) | ||||
03/15/2026 | 5.875% | 20,000 | 19,749 | |
02/15/2029 | 7.750% | 16,000 | 16,637 | |
NCR Atleos Escrow Corp.(a) | ||||
04/01/2029 | 9.500% | 32,000 | 34,222 | |
NCR Corp.(a) | ||||
10/01/2028 | 5.000% | 20,000 | 18,655 | |
04/15/2029 | 5.125% | 7,000 | 6,490 | |
10/01/2030 | 5.250% | 4,000 | 3,626 | |
Neptune Bidco US, Inc.(a) | ||||
04/15/2029 | 9.290% | 27,000 | 25,545 | |
Netflix, Inc. | ||||
04/15/2028 | 4.875% | 56,000 | 55,887 | |
11/15/2028 | 5.875% | 17,000 | 17,672 | |
05/15/2029 | 4.625% | EUR | 250,000 | 285,030 |
05/15/2029 | 6.375% | 3,000 | 3,196 | |
Netflix, Inc.(a) | ||||
11/15/2029 | 5.375% | 24,000 | 24,502 | |
06/15/2030 | 4.875% | 40,000 | 39,730 | |
New York Life Global Funding(a) | ||||
01/09/2030 | 3.625% | EUR | 250,000 | 274,777 |
Newell Brands, Inc. | ||||
06/01/2025 | 4.875% | 11,000 | 10,843 | |
09/15/2027 | 6.375% | 3,000 | 2,961 | |
NextEra Energy Operating Partners LP(a) | ||||
10/15/2026 | 3.875% | 36,000 | 33,603 | |
09/15/2027 | 4.500% | 79,000 | 74,033 | |
01/15/2029 | 7.250% | 16,000 | 16,389 | |
NFP Corp.(a) | ||||
08/15/2028 | 4.875% | 22,000 | 22,042 | |
08/15/2028 | 6.875% | 56,000 | 56,711 | |
10/01/2030 | 7.500% | 22,000 | 23,184 | |
10/01/2031 | 8.500% | 12,000 | 13,213 | |
NiSource, Inc. | ||||
05/01/2030 | 3.600% | 36,000 | 33,191 | |
05/15/2047 | 4.375% | 45,000 | 37,699 | |
Northrop Grumman Corp. | ||||
06/01/2034 | 4.900% | 40,000 | 39,301 | |
Novelis Corp.(a) | ||||
11/15/2026 | 3.250% | 13,000 | 12,120 | |
01/30/2030 | 4.750% | 33,000 | 30,438 | |
08/15/2031 | 3.875% | 12,000 | 10,312 | |
NRG Energy, Inc. | ||||
01/15/2027 | 6.625% | 10,000 | 10,014 | |
NRG Energy, Inc.(a) | ||||
02/15/2029 | 3.375% | 12,000 | 10,673 | |
02/15/2031 | 3.625% | 70,000 | 60,434 |
12
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
NuStar Logistics LP | ||||
10/01/2025 | 5.750% | 43,000 | 42,820 | |
06/01/2026 | 6.000% | 20,000 | 19,939 | |
04/28/2027 | 5.625% | 24,000 | 23,766 | |
Olympus Water US Holding Corp.(a) | ||||
10/01/2028 | 4.250% | 24,000 | 21,742 | |
11/15/2028 | 9.750% | 51,000 | 54,373 | |
10/01/2029 | 6.250% | 14,000 | 12,784 | |
OneMain Finance Corp. | ||||
01/15/2029 | 9.000% | 10,000 | 10,609 | |
03/15/2030 | 7.875% | 18,000 | 18,605 | |
09/15/2030 | 4.000% | 16,000 | 13,697 | |
Organon Finance 1 LLC(a) | ||||
04/30/2028 | 4.125% | 19,000 | 17,700 | |
04/30/2031 | 5.125% | 50,000 | 44,281 | |
Outfront Media Capital LLC/Corp.(a) | ||||
08/15/2027 | 5.000% | 29,000 | 27,921 | |
01/15/2029 | 4.250% | 9,000 | 8,155 | |
03/15/2030 | 4.625% | 18,000 | 16,146 | |
02/15/2031 | 7.375% | 6,000 | 6,295 | |
Pacific Gas and Electric Co. | ||||
07/01/2050 | 4.950% | 65,000 | 55,995 | |
Panther Escrow Issuer LLC(a),(c) | ||||
06/01/2031 | 7.125% | 34,000 | 34,607 | |
Park Intermediate Holdings LLC/Domestic Property/Finance Co-Issuer(a) | ||||
06/01/2025 | 7.500% | 10,000 | 10,026 | |
10/01/2028 | 5.875% | 2,000 | 1,965 | |
Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer(a) | ||||
05/15/2029 | 4.875% | 20,000 | 18,620 | |
Peachtree Corners Funding Trust(a) | ||||
02/15/2025 | 3.976% | 1,100,000 | 1,079,944 | |
Penn National Gaming, Inc.(a) | ||||
01/15/2027 | 5.625% | 33,000 | 31,934 | |
07/01/2029 | 4.125% | 19,000 | 16,432 | |
Permian Resources Operating LLC(a) | ||||
01/15/2032 | 7.000% | 86,000 | 89,154 | |
PetSmart, Inc./Finance Corp.(a) | ||||
02/15/2028 | 4.750% | 17,000 | 15,875 | |
02/15/2029 | 7.750% | 39,000 | 37,978 | |
Picard Midco, Inc.(a) | ||||
03/31/2029 | 6.500% | 43,000 | 40,832 | |
Plains All American Pipeline LP/Finance Corp. | ||||
06/15/2044 | 4.700% | 75,000 | 63,631 | |
Playtika Holding Corp.(a) | ||||
03/15/2029 | 4.250% | 41,000 | 35,489 | |
Post Holdings, Inc.(a) | ||||
04/15/2030 | 4.625% | 29,000 | 26,619 | |
09/15/2031 | 4.500% | 28,000 | 25,189 | |
02/15/2032 | 6.250% | 17,000 | 17,119 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Prestige Brands, Inc.(a) | ||||
01/15/2028 | 5.125% | 11,000 | 10,707 | |
Primo Water Holdings, Inc.(a) | ||||
04/30/2029 | 4.375% | 29,000 | 26,621 | |
Provident Funding Associates LP/Finance Corp.(a) | ||||
06/15/2025 | 6.375% | 18,000 | 17,259 | |
Quicken Loans LLC/Co-Issuer, Inc.(a) | ||||
03/01/2029 | 3.625% | 15,000 | 13,493 | |
03/01/2031 | 3.875% | 27,000 | 23,535 | |
Raytheon Technologies Corp. | ||||
03/15/2032 | 2.375% | 97,000 | 80,000 | |
Resideo Funding, Inc.(a) | ||||
09/01/2029 | 4.000% | 13,000 | 11,660 | |
RHP Hotel Properties LP/Finance Corp.(a) | ||||
07/15/2028 | 7.250% | 5,000 | 5,154 | |
04/01/2032 | 6.500% | 16,000 | 16,046 | |
Ritchie Bros Holdings, Inc.(a) | ||||
03/15/2028 | 6.750% | 4,000 | 4,082 | |
03/15/2031 | 7.750% | 26,000 | 27,200 | |
RLJ Lodging Trust LP(a) | ||||
07/01/2026 | 3.750% | 10,000 | 9,525 | |
09/15/2029 | 4.000% | 9,000 | 7,940 | |
Roblox Corp.(a) | ||||
05/01/2030 | 3.875% | 34,000 | 29,960 | |
Rocket Mortgage LLC/Co-Issuer, Inc.(a) | ||||
10/15/2033 | 4.000% | 54,000 | 45,792 | |
SBA Communications Corp. | ||||
02/01/2029 | 3.125% | 25,000 | 22,157 | |
Scientific Games Holdings LP/US FinCo, Inc.(a) | ||||
03/01/2030 | 6.625% | 42,000 | 40,615 | |
Scientific Games International, Inc.(a) | ||||
05/15/2028 | 7.000% | 8,000 | 8,067 | |
11/15/2029 | 7.250% | 8,000 | 8,216 | |
Scotts Miracle-Gro Co. (The) | ||||
02/01/2032 | 4.375% | 12,000 | 10,350 | |
Select Medical Corp.(a) | ||||
08/15/2026 | 6.250% | 29,000 | 29,086 | |
Sempra Energy | ||||
06/15/2027 | 3.250% | 260,000 | 245,006 | |
Service Properties Trust(a) | ||||
11/15/2031 | 8.625% | 11,000 | 11,741 | |
Shea Homes LP/Funding Corp. | ||||
02/15/2028 | 4.750% | 18,000 | 17,116 | |
Shift4 Payments LLC/Finance Sub, Inc.(a) | ||||
11/01/2026 | 4.625% | 50,000 | 48,334 | |
Silgan Holdings, Inc. | ||||
06/01/2028 | 2.250% | EUR | 100,000 | 98,253 |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
13
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed(a) | ||||
03/01/2029 | 4.625% | 35,000 | 30,961 | |
Sirius XM Radio, Inc.(a) | ||||
09/01/2026 | 3.125% | 47,000 | 44,066 | |
07/01/2030 | 4.125% | 20,000 | 17,485 | |
Six Flags Entertainment Corp.(a) | ||||
05/15/2031 | 7.250% | 23,000 | 23,288 | |
Six Flags Theme Parks, Inc.(a) | ||||
07/01/2025 | 7.000% | 7,000 | 7,020 | |
SM Energy Co. | ||||
09/15/2026 | 6.750% | 23,000 | 23,040 | |
Spectrum Brands, Inc.(a) | ||||
10/01/2026 | 4.000% | EUR | 100,000 | 106,705 |
10/01/2029 | 5.000% | 10,000 | 9,801 | |
07/15/2030 | 5.500% | 9,000 | 8,813 | |
03/15/2031 | 3.875% | 11,000 | 10,615 | |
Spirit AeroSystems, Inc.(a) | ||||
11/30/2029 | 9.375% | 14,000 | 15,270 | |
11/15/2030 | 9.750% | 13,000 | 14,544 | |
Springleaf Finance Corp. | ||||
03/15/2025 | 6.875% | 12,000 | 12,127 | |
11/15/2029 | 5.375% | 2,000 | 1,880 | |
SRS Distribution, Inc.(a) | ||||
07/01/2028 | 4.625% | 19,000 | 19,156 | |
07/01/2029 | 6.125% | 42,000 | 42,841 | |
12/01/2029 | 6.000% | 14,000 | 14,295 | |
Standard Industries, Inc.(a) | ||||
02/15/2027 | 5.000% | 10,000 | 9,702 | |
Star Parent, Inc.(a) | ||||
10/01/2030 | 9.000% | 33,000 | 34,946 | |
Summit Materials LLC /Finance Corp.(a) | ||||
01/15/2031 | 7.250% | 18,000 | 18,702 | |
Summit Materials LLC/Finance Corp.(a) | ||||
01/15/2029 | 5.250% | 4,000 | 3,893 | |
Sunoco LP/Finance Corp.(a) | ||||
09/15/2028 | 7.000% | 13,000 | 13,285 | |
Sunoco LP/Finance Corp. | ||||
05/15/2029 | 4.500% | 10,000 | 9,311 | |
Surgery Center Holdings, Inc.(a) | ||||
07/01/2025 | 6.750% | 8,000 | 8,000 | |
04/15/2027 | 10.000% | 7,000 | 7,018 | |
Surgery Center Holdings, Inc.(a),(c) | ||||
04/15/2032 | 7.250% | 16,000 | 16,140 | |
Tallgrass Energy Partners LP/Finance Corp.(a) | ||||
02/15/2029 | 7.375% | 35,000 | 35,200 | |
Tempo Acquisition LLC/Finance Corp.(a) | ||||
06/01/2025 | 5.750% | 7,000 | 6,983 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Tenet Healthcare Corp. | ||||
02/01/2027 | 6.250% | 44,000 | 43,976 | |
11/01/2027 | 5.125% | 14,000 | 13,689 | |
06/15/2028 | 4.625% | 8,000 | 7,622 | |
10/01/2028 | 6.125% | 25,000 | 24,908 | |
01/15/2030 | 4.375% | 34,000 | 31,439 | |
Tenet Healthcare Corp.(a) | ||||
05/15/2031 | 6.750% | 14,000 | 14,265 | |
TerraForm Power Operating LLC(a) | ||||
01/31/2028 | 5.000% | 32,000 | 30,505 | |
01/15/2030 | 4.750% | 28,000 | 25,697 | |
T-Mobile US, Inc. | ||||
02/15/2029 | 2.625% | 26,000 | 23,288 | |
02/15/2031 | 2.875% | 422,000 | 366,978 | |
04/15/2031 | 3.500% | 53,000 | 47,880 | |
TransDigm, Inc.(a) | ||||
08/15/2028 | 6.750% | 20,000 | 20,293 | |
03/01/2029 | 6.375% | 44,000 | 44,134 | |
12/15/2030 | 6.875% | 27,000 | 27,542 | |
03/01/2032 | 6.625% | 45,000 | 45,463 | |
TransMontaigne Partners LP/TLP Finance Corp. | ||||
02/15/2026 | 6.125% | 42,000 | 40,219 | |
Transocean Aquila Ltd.(a) | ||||
09/30/2028 | 8.000% | 27,000 | 27,706 | |
Transocean Titan Financing Ltd.(a) | ||||
02/01/2028 | 8.375% | 26,000 | 27,059 | |
Triton Water Holdings, Inc.(a) | ||||
04/01/2029 | 6.250% | 15,000 | 13,660 | |
Uber Technologies, Inc.(a) | ||||
09/15/2027 | 7.500% | 19,000 | 19,462 | |
01/15/2028 | 6.250% | 12,000 | 12,058 | |
08/15/2029 | 4.500% | 45,000 | 42,793 | |
UKG, Inc.(a) | ||||
02/01/2031 | 6.875% | 42,000 | 42,798 | |
United Airlines, Inc.(a) | ||||
04/15/2026 | 4.375% | 12,000 | 11,605 | |
United Wholesale Mortgage LLC(a) | ||||
06/15/2027 | 5.750% | 6,000 | 5,839 | |
04/15/2029 | 5.500% | 2,000 | 1,893 | |
UnitedHealth Group, Inc. | ||||
04/15/2034 | 5.000% | 114,000 | 114,129 | |
Univision Communications, Inc.(a) | ||||
08/15/2028 | 8.000% | 29,000 | 29,554 | |
06/30/2030 | 7.375% | 26,000 | 25,727 | |
US Bancorp(h) | ||||
06/12/2034 | 5.836% | 57,000 | 58,108 |
14
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
US Foods, Inc.(a) | ||||
09/15/2028 | 6.875% | 12,000 | 12,294 | |
02/15/2029 | 4.750% | 14,000 | 13,287 | |
06/01/2030 | 4.625% | 16,000 | 14,823 | |
01/15/2032 | 7.250% | 12,000 | 12,463 | |
USA Compression Partners LP/Finance Corp. | ||||
04/01/2026 | 6.875% | 17,000 | 17,000 | |
09/01/2027 | 6.875% | 5,000 | 5,007 | |
USA Compression Partners LP/Finance Corp.(a) | ||||
03/15/2029 | 7.125% | 26,000 | 26,294 | |
USI, Inc.(a) | ||||
01/15/2032 | 7.500% | 14,000 | 14,015 | |
Venture Global Calcasieu Pass LLC(a) | ||||
08/15/2029 | 3.875% | 28,000 | 25,207 | |
08/15/2031 | 4.125% | 37,000 | 32,950 | |
11/01/2033 | 3.875% | 20,000 | 17,006 | |
Venture Global LNG, Inc.(a) | ||||
02/01/2029 | 9.500% | 14,000 | 15,092 | |
06/01/2031 | 8.375% | 27,000 | 27,872 | |
02/01/2032 | 9.875% | 36,000 | 38,810 | |
Verizon Communications, Inc. | ||||
03/21/2031 | 2.550% | 357,000 | 305,002 | |
Verscend Escrow Corp.(a) | ||||
08/15/2026 | 9.750% | 33,000 | 33,114 | |
Vertical US Newco, Inc.(a) | ||||
07/15/2027 | 5.250% | 28,000 | 27,055 | |
Viking Cruises Ltd.(a) | ||||
09/15/2027 | 5.875% | 20,000 | 19,632 | |
02/15/2029 | 7.000% | 11,000 | 11,046 | |
07/15/2031 | 9.125% | 24,000 | 26,241 | |
Vistra Operations Co. LLC(a) | ||||
09/01/2026 | 5.500% | 15,000 | 14,773 | |
05/01/2029 | 4.375% | 11,000 | 10,194 | |
10/15/2031 | 7.750% | 45,000 | 47,099 | |
Warnermedia Holdings, Inc. | ||||
03/15/2062 | 5.391% | 57,000 | 47,256 | |
Waste Pro USA, Inc.(a) | ||||
02/15/2026 | 5.500% | 41,000 | 40,396 | |
Wells Fargo & Co.(h) | ||||
10/30/2030 | 2.879% | 5,000 | 4,420 | |
07/25/2034 | 5.557% | 143,000 | 143,665 | |
WESCO Distribution, Inc.(a) | ||||
06/15/2025 | 7.125% | 19,000 | 19,024 | |
06/15/2028 | 7.250% | 18,000 | 18,378 | |
03/15/2029 | 6.375% | 21,000 | 21,221 | |
03/15/2032 | 6.625% | 27,000 | 27,448 | |
White Cap Buyer LLC(a) | ||||
10/15/2028 | 6.875% | 25,000 | 24,528 |
Corporate Bonds & Notes(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Williams Companies, Inc. (The) | ||||
08/15/2028 | 5.300% | 40,000 | 40,348 | |
Wolverine World Wide, Inc.(a) | ||||
08/15/2029 | 4.000% | 26,000 | 20,887 | |
WR Grace Holdings LLC(a) | ||||
06/15/2027 | 4.875% | 42,000 | 39,950 | |
08/15/2029 | 5.625% | 52,000 | 46,546 | |
03/01/2031 | 7.375% | 5,000 | 5,073 | |
Wynn Resorts Finance LLC/Capital Corp.(a) | ||||
10/01/2029 | 5.125% | 7,000 | 6,635 | |
ZoomInfo Technologies LLC/Finance Corp.(a) | ||||
02/01/2029 | 3.875% | 43,000 | 38,673 | |
Total | 20,714,036 | |||
Virgin Islands 0.2% | ||||
Studio City Finance Ltd.(a) | ||||
01/15/2029 | 5.000% | 200,000 | 175,974 | |
Total Corporate Bonds & Notes (Cost $42,920,259) | 40,789,985 | |||
Foreign Government Obligations(e),(j) 14.4% | ||||
Angola 0.4% | ||||
Angolan Government International Bond(a) | ||||
11/26/2049 | 9.125% | 400,000 | 339,257 | |
Australia 0.6% | ||||
NBN Co., Ltd.(a) | ||||
03/15/2029 | 4.125% | EUR | 400,000 | 447,299 |
Canada 0.1% | ||||
NOVA Chemicals Corp.(a) | ||||
05/01/2025 | 5.000% | 15,000 | 14,765 | |
06/01/2027 | 5.250% | 12,000 | 11,322 | |
11/15/2028 | 8.500% | 8,000 | 8,514 | |
05/15/2029 | 4.250% | 24,000 | 20,594 | |
02/15/2030 | 9.000% | 33,000 | 34,100 | |
Total | 89,295 | |||
Chile 0.3% | ||||
Corporación Nacional del Cobre de Chile(a) | ||||
01/26/2036 | 6.440% | 200,000 | 206,190 | |
Colombia 0.6% | ||||
Colombia Government International Bond | ||||
01/30/2030 | 3.000% | 400,000 | 331,123 | |
04/15/2031 | 3.125% | 200,000 | 159,826 | |
Total | 490,949 |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
15
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Foreign Government Obligations(e),(j) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Dominican Republic 0.6% | ||||
Dominican Republic International Bond(a) | ||||
04/20/2027 | 8.625% | 200,000 | 208,112 | |
09/23/2032 | 4.875% | 150,000 | 134,472 | |
01/30/2060 | 5.875% | 150,000 | 127,456 | |
Total | 470,040 | |||
Egypt 0.4% | ||||
Egypt Government International Bond(a) | ||||
03/01/2049 | 8.700% | 355,000 | 286,703 | |
France 0.2% | ||||
Electricite de France SA(a),(g),(h) | ||||
6.000% | GBP | 100,000 | 123,112 | |
Germany 0.5% | ||||
Bundesrepublik Deutschland Bundesanleihe(a) | ||||
02/15/2026 | 0.500% | EUR | 400,000 | 413,564 |
India 0.4% | ||||
Export-Import Bank of India(a) | ||||
01/15/2030 | 3.250% | 200,000 | 179,585 | |
Indian Railway Finance Corp., Ltd.(a) | ||||
02/13/2030 | 3.249% | 200,000 | 177,665 | |
Total | 357,250 | |||
Indonesia 0.9% | ||||
Indonesia Government International Bond(a) | ||||
01/08/2027 | 4.350% | 400,000 | 393,572 | |
Indonesia Government International Bond | ||||
07/28/2031 | 2.150% | 200,000 | 165,342 | |
Perusahaan Penerbit SBSN Indonesia III(a) | ||||
06/23/2025 | 2.300% | 200,000 | 193,144 | |
Total | 752,058 | |||
Ireland 0.1% | ||||
Permanent TSB Group Holdings PLC(a),(h) | ||||
06/30/2029 | 6.625% | EUR | 100,000 | 117,458 |
Ivory Coast 0.5% | ||||
Ivory Coast Government International Bond(a) | ||||
03/03/2028 | 6.375% | 250,000 | 246,551 | |
06/15/2033 | 6.125% | 200,000 | 180,100 | |
Total | 426,651 | |||
Kazakhstan 0.2% | ||||
KazMunayGas National Co., JSC(a) | ||||
10/24/2048 | 6.375% | 200,000 | 186,981 |
Foreign Government Obligations(e),(j) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Luxembourg 0.2% | ||||
P3 Group Sarl(a) | ||||
01/26/2029 | 1.625% | EUR | 190,000 | 181,973 |
Malaysia 0.2% | ||||
Petronas Capital Ltd.(a) | ||||
04/21/2030 | 3.500% | 200,000 | 183,893 | |
Mexico 1.6% | ||||
Comision Federal de Electricidad(a) | ||||
07/26/2033 | 3.875% | 200,000 | 162,707 | |
Mexico Government International Bond | ||||
05/24/2031 | 2.659% | 400,000 | 333,962 | |
05/29/2031 | 7.750% | MXN | 1,010,000 | 56,003 |
05/07/2036 | 6.000% | 200,000 | 200,800 | |
Petroleos Mexicanos | ||||
02/12/2028 | 5.350% | 357,000 | 316,033 | |
02/16/2032 | 6.700% | 300,000 | 249,603 | |
Total | 1,319,108 | |||
Mongolia 0.2% | ||||
Mongolia Government International Bond(a) | ||||
07/07/2031 | 4.450% | 200,000 | 169,489 | |
Netherlands 0.8% | ||||
Greenko Dutch BV(a) | ||||
03/29/2026 | 3.850% | 185,000 | 174,087 | |
Stedin Holding NV(a),(g),(h) | ||||
1.500% | EUR | 250,000 | 246,573 | |
TenneT Holding BV(a),(g),(h) | ||||
2.374% | EUR | 250,000 | 261,982 | |
Total | 682,642 | |||
Oman 0.3% | ||||
Oman Government International Bond(a) | ||||
01/17/2048 | 6.750% | 200,000 | 204,583 | |
Panama 0.5% | ||||
Panama Government International Bond | ||||
01/23/2030 | 3.160% | 200,000 | 165,989 | |
07/23/2060 | 3.870% | 400,000 | 229,936 | |
Total | 395,925 | |||
Paraguay 0.2% | ||||
Paraguay Government International Bond(a) | ||||
03/30/2050 | 5.400% | 200,000 | 175,798 | |
Qatar 1.0% | ||||
Qatar Government International Bond(a) | ||||
03/14/2029 | 4.000% | 400,000 | 391,026 | |
04/23/2048 | 5.103% | 250,000 | 243,100 |
16
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Foreign Government Obligations(e),(j) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Qatar Petroleum(a) | ||||
07/12/2031 | 2.250% | 200,000 | 167,337 | |
Total | 801,463 | |||
Romania 0.3% | ||||
Romanian Government International Bond(a) | ||||
02/14/2051 | 4.000% | 342,000 | 241,827 | |
Saudi Arabia 1.2% | ||||
Gaci First Investment Co.(a) | ||||
02/14/2053 | 5.125% | 250,000 | 216,731 | |
Saudi Arabian Oil Co.(a) | ||||
04/16/2029 | 3.500% | 300,000 | 279,340 | |
Saudi Government International Bond(a) | ||||
01/21/2055 | 3.750% | 625,000 | 451,546 | |
Total | 947,617 | |||
Serbia 0.5% | ||||
Serbia International Bond(a) | ||||
12/01/2030 | 2.125% | 500,000 | 395,757 | |
South Africa 0.2% | ||||
Republic of South Africa Government International Bond | ||||
09/30/2049 | 5.750% | 200,000 | 145,074 | |
South Korea 0.3% | ||||
Korea Treasury Bond | ||||
03/10/2028 | 3.250% | KRW | 327,380,000 | 242,707 |
Turkey 0.2% | ||||
Turkey Government International Bond | ||||
01/14/2041 | 6.000% | 200,000 | 164,494 | |
United Arab Emirates 0.9% | ||||
Abu Dhabi Government International Bond(a) | ||||
09/30/2049 | 3.125% | 250,000 | 175,595 | |
04/16/2050 | 3.875% | 200,000 | 159,881 | |
DP World PLC(a) | ||||
07/02/2037 | 6.850% | 400,000 | 436,515 | |
Total | 771,991 | |||
Total Foreign Government Obligations (Cost $12,752,582) | 11,731,148 | |||
Residential Mortgage-Backed Securities - Agency 0.9% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United States 0.9% | ||||
Federal National Mortgage Association(b),(k) | ||||
CMO Series 2019-33 Class SB | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 07/25/2049 | 0.615% | 116,869 | 11,762 | |
Federal National Mortgage Association(k) | ||||
CMO Series 2021-3 Class TI | ||||
02/25/2051 | 2.500% | 507,973 | 85,327 | |
Freddie Mac STACR REMIC Trust(a),(b) | ||||
Subordinated CMO Series 2021-HQA2 Class B2 | ||||
30-day Average SOFR + 5.450% 12/25/2033 | 10.770% | 500,000 | 543,632 | |
Government National Mortgage Association(b),(k) | ||||
CMO Series 2017-141 Class ES | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 09/20/2047 | 0.757% | 83,438 | 9,704 | |
CMO Series 2018-155 Class ES | ||||
-1.0 x 1-month Term SOFR + 5.986% Cap 6.100% 11/20/2048 | 0.657% | 60,497 | 5,428 | |
CMO Series 2019-23 Class LS | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 02/20/2049 | 0.607% | 247,742 | 23,824 | |
CMO Series 2019-23 Class SQ | ||||
1-month Term SOFR + 6.164% Cap 6.050% 02/20/2049 | 0.607% | 293,929 | 34,561 | |
CMO Series 2021-46 Class SE | ||||
-1.0 x 1-month Term SOFR + 6.186% Cap 6.300% 03/20/2051 | 0.857% | 269,065 | 30,593 | |
Total | 744,831 | |||
Total Residential Mortgage-Backed Securities - Agency (Cost $777,153) | 744,831 | |||
Residential Mortgage-Backed Securities - Non-Agency 8.2% | ||||
United States 8.2% | ||||
BVRT Financing Trust(a),(b),(d) | ||||
CMO Series 2021-3F Class M2 | ||||
30-day Average SOFR + 2.900% Floor 2.900% 07/12/2033 | 4.187% | 416,142 | 416,142 |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
17
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CHNGE Mortgage Trust(a),(l) | ||||
CMO Series 2023-3 Class M1 | ||||
07/25/2058 | 8.258% | 300,000 | 305,682 | |
CIM Trust(a),(l) | ||||
CMO Series 2021-NR2 Class A1 | ||||
07/25/2059 | 2.568% | 194,207 | 192,217 | |
Connecticut Avenue Securities Trust(a),(b) | ||||
Subordinated CMO Series 2019-R01 Class 2B1 | ||||
30-day Average SOFR + 4.464% 07/25/2031 | 9.785% | 700,000 | 751,162 | |
Freddie Mac STACR REMIC Trust(a),(b) | ||||
Subordinated CMO Series 2021-HQA1 Class B2 | ||||
30-day Average SOFR + 5.000% 08/25/2033 | 10.320% | 250,000 | 264,141 | |
Homeward Opportunities Fund I Trust(a),(l) | ||||
Subordinated CMO Series 2020-2 Class B1 | ||||
05/25/2065 | 5.450% | 389,000 | 376,040 | |
LHOME Mortgage Trust(a),(l) | ||||
CMO Series 2021-RTL3 Class A1 | ||||
09/25/2026 | 2.363% | 190,781 | 187,964 | |
CMO Series 2024-RTL1 Class A1 | ||||
01/25/2029 | 7.017% | 400,000 | 400,863 | |
New Residential Mortgage Loan Trust(a),(l) | ||||
Subordinated CMO Series 2019-RPL3 Class B3 | ||||
07/25/2059 | 4.012% | 500,000 | 368,525 | |
Oaktown Re V Ltd.(a),(b) | ||||
CMO Series 2020-2A Class M2 | ||||
30-day Average SOFR + 5.364% Floor 5.250% 10/25/2030 | 10.685% | 226,400 | 232,424 | |
OBX Trust(a),(l) | ||||
CMO Series 2021-NQM3 Class A1 | ||||
07/25/2061 | 1.054% | 331,587 | 257,214 | |
Preston Ridge Partners Mortgage Trust(a),(l) | ||||
CMO Series 2022-NQM1 Class M1 | ||||
08/25/2067 | 5.448% | 248,000 | 231,355 | |
PRET LLC(a),(l) | ||||
CMO Series 2024-NPL1 Class A2 | ||||
01/25/2054 | 9.798% | 500,000 | 495,623 | |
Pretium Mortgage Credit Partners(a),(l) | ||||
CMO Series 2022-NPL1 Class A1 | ||||
01/25/2052 | 2.981% | 279,548 | 271,679 | |
SG Residential Mortgage Trust(a),(l) | ||||
CMO Series 2019-3 Class M1 | ||||
09/25/2059 | 3.526% | 400,000 | 376,677 | |
Stanwich Mortgage Loan Co. LLC(a),(l) | ||||
CMO Series 2021-NPB1 Class A2 | ||||
10/16/2026 | 4.375% | 500,000 | 449,839 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Triangle Re Ltd.(a),(b) | ||||
Subordinated CMO Series 2021-1 Class B1 | ||||
1-month Term SOFR + 4.614% Floor 4.500% 08/25/2033 | 9.944% | 500,000 | 500,979 | |
VCAT Asset Securitization LLC(a),(l) | ||||
CMO Series 2021-NPL3 Class A2 | ||||
05/25/2051 | 3.967% | 300,000 | 270,277 | |
Verus Securitization Trust(a),(l) | ||||
CMO Series 2020-1 Class M1 | ||||
01/25/2060 | 3.021% | 400,000 | 346,627 | |
Total | 6,695,430 | |||
Total Residential Mortgage-Backed Securities - Non-Agency (Cost $6,632,196) | 6,695,430 | |||
Senior Loans 0.1% | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
United States 0.1% | ||||
Ascend Learning LLC(b),(m) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.500% Floor 0.500% 12/11/2028 | 8.926% | 32,257 | 32,044 | |
2nd Lien Term Loan | ||||
1-month Term SOFR + 5.750% Floor 0.500% 12/10/2029 | 11.176% | 20,000 | 19,644 | |
UKG, Inc.(b),(m) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 3.500% 02/10/2031 | 8.814% | 14,888 | 14,958 | |
2nd Lien Term Loan | ||||
3-month Term SOFR + 5.250% Floor 0.500% 05/03/2027 | 10.680% | 24,897 | 25,073 | |
Total | 91,719 | |||
Total Senior Loans (Cost $91,814) | 91,719 | |||
Treasury Bills 6.1% | ||||
Issuer | Yield | Principal Amount ($) | Value ($) | |
United States 6.1% | ||||
U.S. Treasury Bills | ||||
06/20/2024 | 5.090% | 5,000,000 | 4,942,158 | |
Total Treasury Bills (Cost $4,941,727) | 4,942,158 |
18
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Money Market Funds 8.4% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.543%(n),(o) | 6,794,919 | 6,793,560 |
Total Money Market Funds (Cost $6,793,275) | 6,793,560 | |
Total Investments in Securities (Cost $82,937,310) | 78,820,813 | |
Other Assets & Liabilities, Net | 2,486,994 | |
Net Assets | $81,307,807 |
At March 31, 2024, securities and/or cash totaling $781,548 were pledged as collateral.
Investments in derivatives
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
20,312,000 EUR | 22,120,093 USD | Citi | 04/26/2024 | 185,367 | — |
2,410,000 GBP | 3,062,029 USD | Morgan Stanley | 04/26/2024 | 19,843 | — |
Total | 205,210 | — |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | 76 | 06/2024 | USD | 8,420,563 | 28,930 | — |
U.S. Treasury 5-Year Note | 232 | 06/2024 | USD | 24,827,625 | 65,736 | — |
U.S. Treasury Ultra Bond | 11 | 06/2024 | USD | 1,419,000 | 13,857 | — |
Total | 108,523 | — |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Euro-Bund | (16) | 06/2024 | EUR | (2,134,080 ) | — | (26,934 ) |
Cleared credit default swap contracts - buy protection | |||||||||||
Reference entity | Counterparty | Maturity date | Pay fixed rate (%) | Payment frequency | Notional currency | Notional amount | Value ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CDX North America High Yield Index, Series 42 | Morgan Stanley | 06/20/2029 | 5.000 | Quarterly | USD | 3,200,000 | (12,784 ) | — | — | — | (12,784 ) |
Notes to Portfolio of Investments
(a) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At March 31, 2024, the total value of these securities amounted to $52,735,733, which represents 64.86% of total net assets. |
(b) | Variable rate security. The interest rate shown was the current rate as of March 31, 2024. |
(c) | Represents a security purchased on a when-issued basis. |
(d) | Valuation based on significant unobservable inputs. |
(e) | Principal amounts are denominated in United States Dollars unless otherwise noted. |
(f) | Represents a security in default. |
(g) | Perpetual security with no specified maturity date. |
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024
19
Portfolio of Investments (continued)Columbia Variable Portfolio – Global Strategic Income Fund, March 31, 2024 (Unaudited)
Notes to Portfolio of Investments (continued)
(h) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of March 31, 2024. |
(i) | Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash. |
(j) | Principal and interest may not be guaranteed by a governmental entity. |
(k) | Represents interest only securities which have the right to receive the monthly interest payments on an underlying pool of mortgage loans. |
(l) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of March 31, 2024. |
(m) | The stated interest rate represents the weighted average interest rate at March 31, 2024 of contracts within the senior loan facility. Interest rates on contracts are primarily determined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. Base lending rates may be subject to a floor or minimum rate. The interest rate for senior loans purchased on a when-issued or delayed delivery basis will be determined upon settlement, therefore no interest rate is disclosed. Senior loans often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay cannot be predicted with accuracy. As a result, remaining maturities of senior loans may be less than the stated maturities. Generally, the Fund is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. |
(n) | The rate shown is the seven-day current annualized yield at March 31, 2024. |
(o) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended March 31, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.543% | ||||||||
5,802,206 | 14,574,320 | (13,583,017 ) | 51 | 6,793,560 | (407 ) | 74,162 | 6,794,919 |
Abbreviation Legend
CMO | Collateralized Mortgage Obligation |
SOFR | Secured Overnight Financing Rate |
Currency Legend
EUR | Euro |
GBP | British Pound |
KRW | South Korean Won |
MXN | Mexican Peso |
USD | US Dollar |
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
20
Columbia Variable Portfolio – Global Strategic Income Fund | First Quarter Report 2024