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Columbia Variable Portfolio – Overseas Core 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 – Overseas Core Fund, March 31, 2024 (Unaudited)(Percentages represent value of investments compared to net assets)
Investments in securities
Common Stocks 98.8% | ||
Issuer | Shares | Value ($) |
Australia 4.4% | ||
Northern Star Resources Ltd. | 8,217,362 | 77,535,484 |
Paladin Energy Ltd.(a) | 27,961,936 | 24,913,130 |
Santos Ltd. | 11,506,207 | 58,254,838 |
Total | 160,703,452 | |
Austria 0.5% | ||
Kontron AG | 853,153 | 18,816,031 |
Belgium 1.2% | ||
Liberty Global Ltd., Class C(a) | 2,543,417 | 44,865,876 |
Brazil 0.4% | ||
JBS S/A | 3,480,805 | 14,865,981 |
Canada 4.7% | ||
Cameco Corp.(b) | 1,051,600 | 45,555,312 |
Celestica, Inc.(a) | 363,237 | 16,323,871 |
Nutrien Ltd. | 355,882 | 19,327,951 |
Pan American Silver Corp. | 1,075,943 | 16,225,220 |
Vermilion Energy, Inc. | 1,342,158 | 16,696,446 |
Whitecap Resources, Inc. | 7,629,133 | 57,730,326 |
Total | 171,859,126 | |
Denmark 2.3% | ||
Novo Nordisk A/S | 659,433 | 84,587,720 |
Finland 1.5% | ||
UPM-Kymmene OYJ | 1,671,124 | 55,676,278 |
France 8.3% | ||
AXA SA | 1,398,415 | 52,518,586 |
Cie de Saint-Gobain SA | 590,052 | 45,796,165 |
DBV Technologies SA, ADR(a) | 574,359 | 434,043 |
Eiffage SA | 609,913 | 69,220,379 |
Safran SA | 61,589 | 13,948,167 |
Sanofi SA | 844,963 | 82,201,803 |
TotalEnergies SE | 538,541 | 37,045,909 |
Total | 301,165,052 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Germany 2.8% | ||
Duerr AG | 644,559 | 14,894,267 |
E.ON SE | 2,192,197 | 30,519,604 |
KION Group AG | 730,120 | 38,407,014 |
TeamViewer SE(a) | 1,151,366 | 17,157,951 |
Total | 100,978,836 | |
Greece 1.1% | ||
JUMBO SA | 1,414,701 | 40,750,880 |
Hong Kong 0.5% | ||
WH Group Ltd. | 25,769,250 | 17,009,789 |
Indonesia 1.0% | ||
PT Bank Rakyat Indonesia Persero Tbk | 97,522,200 | 37,290,047 |
Ireland 2.6% | ||
Amarin Corp. PLC, ADR(a) | 430,747 | 383,709 |
Bank of Ireland Group PLC | 3,259,838 | 33,266,892 |
Flutter Entertainment PLC(a) | 307,839 | 61,362,663 |
Total | 95,013,264 | |
Israel 3.2% | ||
Bank Hapoalim BM | 4,278,032 | 40,091,339 |
Check Point Software Technologies Ltd.(a) | 454,504 | 74,543,201 |
Total | 114,634,540 | |
Japan 24.6% | ||
Amano Corp. | 979,300 | 24,954,466 |
BayCurrent Consulting, Inc. | 993,100 | 19,520,804 |
Denso Corp. | 1,578,600 | 30,232,832 |
Hitachi Ltd. | 481,200 | 43,972,272 |
ITOCHU Corp. | 1,540,500 | 66,179,263 |
JustSystems Corp. | 390,800 | 6,858,923 |
Kinden Corp. | 1,120,500 | 19,529,818 |
Komatsu Ltd. | 852,400 | 25,223,194 |
Macnica Holdings, Inc. | 1,285,900 | 63,033,208 |
MatsukiyoCocokara & Co. | 3,460,500 | 55,564,899 |
Mebuki Financial Group, Inc. | 7,187,400 | 23,615,140 |
MEITEC Group Holdings, Inc. | 343,700 | 6,645,260 |
Mitsubishi UFJ Financial Group, Inc. | 7,887,300 | 80,246,197 |
Otsuka Corp. | 2,791,000 | 59,220,705 |
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Columbia Variable Portfolio – Overseas Core Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Overseas Core Fund, March 31, 2024 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
PAL GROUP Holdings Co., Ltd. | 1,360,000 | 23,132,906 |
Round One Corp. | 3,106,000 | 16,081,032 |
Sankyo Co., Ltd. | 5,133,000 | 56,071,774 |
Sanwa Holdings Corp. | 419,500 | 7,334,782 |
Shimamura Co., Ltd. | 839,200 | 47,843,814 |
Ship Healthcare Holdings, Inc. | 1,935,000 | 26,727,953 |
Suntory Beverage & Food Ltd. | 739,500 | 25,013,523 |
Takeda Pharmaceutical Co., Ltd. | 2,097,585 | 58,342,004 |
Takuma Co., Ltd. | 905,300 | 11,243,993 |
TOPPAN Holdings, Inc. | 2,631,600 | 65,966,331 |
USS Co., Ltd. | 3,766,400 | 31,137,401 |
Total | 893,692,494 | |
Jersey 0.4% | ||
Arcadium Lithium PLC(a) | 3,450,933 | 14,873,521 |
Netherlands 11.5% | ||
Adyen NV(a) | 16,202 | 27,367,396 |
ASR Nederland NV | 1,521,391 | 74,563,014 |
Heineken NV | 375,870 | 36,236,739 |
ING Groep NV | 5,252,441 | 86,472,453 |
Koninklijke Ahold Delhaize NV | 2,020,093 | 60,444,817 |
Prosus NV | 1,760,769 | 55,112,768 |
Shell PLC | 2,387,566 | 79,988,469 |
Total | 420,185,656 | |
Norway 1.0% | ||
SalMar ASA | 539,670 | 35,617,287 |
Russian Federation —% | ||
Lukoil PJSC(c),(d),(e),(f) | 133,228 | — |
Singapore 2.7% | ||
DBS Group Holdings Ltd. | 2,144,100 | 57,221,353 |
Venture Corp., Ltd. | 3,763,100 | 39,773,767 |
Total | 96,995,120 | |
South Africa 0.2% | ||
Impala Platinum Holdings Ltd. | 1,388,626 | 5,736,718 |
South Korea 2.2% | ||
Hyundai Home Shopping Network Corp. | 178,910 | 6,935,294 |
Samsung Electronics Co., Ltd. | 867,729 | 52,148,354 |
Youngone Corp. | 738,106 | 22,205,120 |
Total | 81,288,768 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Switzerland 2.8% | ||
Landis+Gyr Group AG(a) | 398,965 | 30,622,788 |
Nestlé SA, Registered Shares | 287,925 | 30,592,019 |
Novartis AG, Registered Shares | 178,643 | 17,303,082 |
UBS AG | 764,911 | 23,552,323 |
Total | 102,070,212 | |
Taiwan 2.2% | ||
Parade Technologies Ltd. | 1,762,000 | 50,712,844 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,198,000 | 28,699,544 |
Total | 79,412,388 | |
United Kingdom 10.3% | ||
AstraZeneca PLC, ADR | 1,691,902 | 114,626,360 |
Crest Nicholson Holdings PLC | 2,491,625 | 6,075,762 |
DCC PLC | 836,628 | 60,869,829 |
Intermediate Capital Group PLC | 671,995 | 17,405,669 |
JD Sports Fashion PLC | 34,100,610 | 57,931,997 |
John Wood Group PLC(a) | 2,968,176 | 4,951,156 |
Just Group PLC | 12,689,915 | 16,836,273 |
TP Icap Group PLC | 15,454,926 | 43,933,348 |
Vodafone Group PLC | 60,161,910 | 53,359,128 |
Total | 375,989,522 | |
United States 6.4% | ||
ACADIA Pharmaceuticals, Inc.(a) | 97,305 | 1,799,169 |
Burford Capital Ltd. | 2,988,230 | 47,722,033 |
Energy Fuels, Inc.(a) | 2,734,965 | 17,202,930 |
Insmed, Inc.(a) | 335,437 | 9,100,406 |
Jazz Pharmaceuticals PLC(a) | 348,728 | 41,993,826 |
Primo Water Corp. | 4,034,763 | 73,473,034 |
Roche Holding AG, Genusschein Shares | 149,712 | 38,224,325 |
Sage Therapeutics, Inc.(a) | 117,597 | 2,203,768 |
Total | 231,719,491 | |
Total Common Stocks (Cost $3,428,635,947) | 3,595,798,049 | |
Columbia Variable Portfolio – Overseas Core Fund | First Quarter Report 2024
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Portfolio of Investments (continued)Columbia Variable Portfolio – Overseas Core Fund, March 31, 2024 (Unaudited)
Exchange-Traded Equity Funds 0.2% | ||
Shares | Value ($) | |
United States 0.2% | ||
iShares MSCI EAFE ETF | 81,035 | 6,471,455 |
Total Exchange-Traded Equity Funds (Cost $6,061,791) | 6,471,455 | |
Money Market Funds 0.7% | ||
Columbia Short-Term Cash Fund, 5.543%(g),(h) | 23,947,709 | 23,942,920 |
Total Money Market Funds (Cost $23,941,285) | 23,942,920 | |
Total Investments in Securities (Cost $3,458,639,023) | 3,626,212,424 | |
Other Assets & Liabilities, Net | 12,166,198 | |
Net Assets | $3,638,378,622 |
At March 31, 2024, securities and/or cash totaling $11,392,125 were pledged as collateral.
Investments in derivatives
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
16,931,706,000 JPY | 115,545,603 USD | Barclays | 05/13/2024 | 2,976,121 | — |
82,790,038 USD | 72,421,000 CHF | Barclays | 05/13/2024 | — | (2,118,629 ) |
126,435,000 CAD | 93,991,837 USD | Citi | 05/13/2024 | 595,021 | — |
56,768,000 EUR | 61,299,506 USD | Citi | 05/13/2024 | — | (45,717 ) |
310,727,170 USD | 283,322,000 EUR | Citi | 05/13/2024 | — | (4,560,823 ) |
131,572,000 ILS | 36,334,715 USD | HSBC | 05/13/2024 | 490,811 | — |
115,213,000 SGD | 86,710,745 USD | HSBC | 05/13/2024 | 1,219,937 | — |
53,558,000 SGD | 39,709,361 USD | HSBC | 05/13/2024 | — | (31,959 ) |
39,725,488 USD | 31,049,000 GBP | HSBC | 05/13/2024 | — | (528,081 ) |
36,004,235 USD | 48,122,000 SGD | HSBC | 05/13/2024 | — | (296,557 ) |
226,760,000 NOK | 21,656,369 USD | Morgan Stanley | 05/13/2024 | 747,726 | — |
108,026,907 USD | 1,125,198,000 SEK | Morgan Stanley | 05/13/2024 | — | (2,730,665 ) |
98,411,000 DKK | 14,443,277 USD | State Street | 05/13/2024 | 179,803 | — |
108,956,656,000 KRW | 82,605,501 USD | State Street | 05/13/2024 | 1,687,533 | — |
2,720,533,000 TWD | 86,613,594 USD | State Street | 05/13/2024 | 1,511,766 | — |
43,292,401 USD | 294,626,000 DKK | State Street | 05/13/2024 | — | (589,957 ) |
16,478,000 AUD | 10,864,769 USD | UBS | 05/13/2024 | 114,149 | — |
79,588,249 USD | 119,916,000 AUD | UBS | 05/13/2024 | — | (1,352,333 ) |
61,510,092 USD | 99,731,000 NZD | UBS | 05/13/2024 | — | (1,923,080 ) |
1,087,161,000 JPY | 7,228,799 USD | Wells Fargo | 05/13/2024 | 871 | — |
Total | 9,523,738 | (14,177,801 ) |
Notes to Portfolio of Investments
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At March 31, 2024, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
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Columbia Variable Portfolio – Overseas Core Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Overseas Core Fund, March 31, 2024 (Unaudited)
Notes to Portfolio of Investments (continued)
(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 March 31, 2024, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Lukoil PJSC | 01/25/2022-01/26/2022 | 133,228 | 10,912,642 | — |
(e) | As a result of sanctions and restricted cross-border payments, certain income and/or principal has not been recognized by the Fund. The Fund will continue to monitor the net realizable value and record the income when it is considered collectible. |
(f) | Valuation based on significant unobservable inputs. |
(g) | The rate shown is the seven-day current annualized yield at March 31, 2024. |
(h) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended March 31, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | 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% | ||||||||
20,724,347 | 113,854,192 | (110,635,181 ) | (438 ) | 23,942,920 | 1,928 | 261,177 | 23,947,709 |
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 |
ILS | Israeli Shekel |
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 in the most recent shareholder report.
Columbia Variable Portfolio – Overseas Core Fund | First Quarter Report 2024
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