Columbia Variable Portfolio – Select Small Cap Value 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 – Select Small Cap Value Fund, March 31, 2024 (Unaudited)(Percentages represent value of investments compared to net assets)
Investments in securities
Common Stocks 97.1% | ||
Issuer | Shares | Value ($) |
Consumer Discretionary 12.6% | ||
Automobile Components 3.7% | ||
Atmus Filtration Technologies, Inc.(a) | 52,560 | 1,695,060 |
Visteon Corp.(a) | 20,000 | 2,352,200 |
Total | 4,047,260 | |
Hotels, Restaurants & Leisure 4.5% | ||
Six Flags Entertainment Corp.(a) | 81,790 | 2,152,713 |
Texas Roadhouse, Inc. | 17,879 | 2,761,769 |
Total | 4,914,482 | |
Household Durables 2.3% | ||
KB Home | 35,494 | 2,515,815 |
Textiles, Apparel & Luxury Goods 2.1% | ||
Kontoor Brands, Inc. | 37,022 | 2,230,575 |
Total Consumer Discretionary | 13,708,132 | |
Consumer Staples 2.2% | ||
Food Products 2.2% | ||
Nomad Foods Ltd. | 119,930 | 2,345,831 |
Total Consumer Staples | 2,345,831 | |
Energy 6.7% | ||
Energy Equipment & Services 2.2% | ||
Patterson-UTI Energy, Inc. | 199,387 | 2,380,681 |
Oil, Gas & Consumable Fuels 4.5% | ||
Devon Energy Corp. | 35,054 | 1,759,009 |
PBF Energy, Inc., Class A | 55,000 | 3,166,350 |
Total | 4,925,359 | |
Total Energy | 7,306,040 | |
Financials 26.7% | ||
Banks 12.1% | ||
Axos Financial, Inc.(a) | 58,369 | 3,154,260 |
First Hawaiian, Inc. | 71,929 | 1,579,561 |
OceanFirst Financial Corp. | 89,044 | 1,461,212 |
Pacific Premier Bancorp, Inc. | 84,030 | 2,016,720 |
Popular, Inc. | 31,922 | 2,812,009 |
Stock Yards Bancorp, Inc. | 44,747 | 2,188,576 |
Total | 13,212,338 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Consumer Finance 1.6% | ||
PROG Holdings, Inc. | 49,550 | 1,706,502 |
Financial Services 4.6% | ||
I3 Verticals, Inc.(a) | 66,589 | 1,524,222 |
Radian Group, Inc. | 104,721 | 3,505,012 |
Total | 5,029,234 | |
Insurance 8.4% | ||
CNO Financial Group, Inc. | 72,987 | 2,005,683 |
Hanover Insurance Group, Inc. (The) | 16,876 | 2,298,005 |
Kemper Corp. | 50,000 | 3,096,000 |
Skyward Specialty Insurance Group, Inc.(a) | 45,166 | 1,689,660 |
Total | 9,089,348 | |
Total Financials | 29,037,422 | |
Health Care 6.7% | ||
Health Care Equipment & Supplies 3.7% | ||
CONMED Corp. | 21,691 | 1,737,015 |
LivaNova PLC(a) | 41,393 | 2,315,525 |
Total | 4,052,540 | |
Health Care Providers & Services 2.8% | ||
Tenet Healthcare Corp.(a) | 28,670 | 3,013,504 |
Pharmaceuticals 0.2% | ||
Ligand Pharmaceuticals, Inc.(a) | 3,702 | 270,616 |
Total Health Care | 7,336,660 | |
Industrials 16.6% | ||
Aerospace & Defense 2.8% | ||
Curtiss-Wright Corp. | 11,898 | 3,045,174 |
Building Products 2.9% | ||
Zurn Elkay Water Solutions Corp. | 92,947 | 3,110,936 |
Commercial Services & Supplies 1.7% | ||
Waste Connections, Inc. | 11,068 | 1,903,807 |
Construction & Engineering 3.2% | ||
Primoris Services Corp. | 82,046 | 3,492,698 |
Electrical Equipment 2.5% |
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Columbia Variable Portfolio – Select Small Cap Value Fund | First Quarter Report 2024
Portfolio of Investments (continued)Columbia Variable Portfolio – Select Small Cap Value Fund, March 31, 2024 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Bloom Energy Corp., Class A(a) | 42,700 | 479,948 |
Regal Rexnord Corp. | 12,657 | 2,279,526 |
Total | 2,759,474 | |
Ground Transportation 1.6% | ||
Knight-Swift Transportation Holdings, Inc. | 31,071 | 1,709,526 |
Professional Services 1.9% | ||
CACI International, Inc., Class A(a) | 5,487 | 2,078,640 |
Total Industrials | 18,100,255 | |
Information Technology 7.5% | ||
Communications Equipment 3.0% | ||
Extreme Networks, Inc.(a) | 94,243 | 1,087,564 |
Viavi Solutions, Inc.(a) | 240,083 | 2,182,355 |
Total | 3,269,919 | |
Semiconductors & Semiconductor Equipment 4.5% | ||
Kulicke & Soffa Industries, Inc. | 29,942 | 1,506,382 |
MACOM Technology Solutions Holdings, Inc.(a) | 35,000 | 3,347,400 |
Total | 4,853,782 | |
Total Information Technology | 8,123,701 | |
Materials 9.2% | ||
Chemicals 1.6% | ||
Minerals Technologies, Inc. | 23,531 | 1,771,414 |
Construction Materials 2.9% | ||
Summit Materials, Inc., Class A(a) | 70,747 | 3,153,194 |
Containers & Packaging 1.8% | ||
O-I Glass, Inc.(a) | 114,217 | 1,894,860 |
Metals & Mining 2.9% | ||
ATI, Inc.(a) | 61,937 | 3,169,316 |
Total Materials | 9,988,784 | |
Real Estate 6.4% | ||
Health Care REITs 1.3% | ||
Healthpeak Properties, Inc. | 76,476 | 1,433,925 |
Hotel & Resort REITs 1.5% | ||
Apple Hospitality REIT, Inc. | 100,000 | 1,638,000 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Industrial REITs 1.0% | ||
First Industrial Realty Trust, Inc. | 20,792 | 1,092,412 |
Specialized REITs 2.6% | ||
Gaming and Leisure Properties, Inc. | 28,106 | 1,294,843 |
Outfront Media, Inc. | 90,000 | 1,511,100 |
Total | 2,805,943 | |
Total Real Estate | 6,970,280 | |
Utilities 2.5% | ||
Electric Utilities 2.5% | ||
Portland General Electric Co. | 63,743 | 2,677,206 |
Total Utilities | 2,677,206 | |
Total Common Stocks (Cost $73,651,797) | 105,594,311 | |
Rights —% | ||
Health Care —% | ||
Life Sciences Tools & Services —% | ||
OmniAb Operations, Inc.(a),(b),(c),(d) | 1,403 | — |
OmniAb, Inc.(a),(b),(c),(d) | 1,403 | — |
Total | — | |
Total Health Care | — | |
Total Rights (Cost $—) | — | |
Money Market Funds 2.9% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.543%(e),(f) | 3,163,996 | 3,163,363 |
Total Money Market Funds (Cost $3,163,328) | 3,163,363 | |
Total Investments in Securities (Cost: $76,815,125) | 108,757,674 | |
Other Assets & Liabilities, Net | (43,040 ) | |
Net Assets | 108,714,634 |
Columbia Variable Portfolio – Select Small Cap Value Fund | First Quarter Report 2024
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Portfolio of Investments (continued)Columbia Variable Portfolio – Select Small Cap Value Fund, March 31, 2024 (Unaudited)
Notes to Portfolio of Investments
(a) | Non-income producing investment. |
(b) | 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. |
(c) | 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 ($) |
OmniAb Operations, Inc. | 03/05/2015-06/10/2021 | 1,403 | — | — |
OmniAb, Inc. | 03/05/2015-06/10/2021 | 1,403 | — | — |
— | — |
(d) | Valuation based on significant unobservable inputs. |
(e) | The rate shown is the seven-day current annualized yield at March 31, 2024. |
(f) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended March 31, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | 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% | ||||||||
1,935,745 | 3,262,178 | (2,034,512 ) | (48 ) | 3,163,363 | 16 | 29,877 | 3,163,996 |
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
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Columbia Variable Portfolio – Select Small Cap Value Fund | First Quarter Report 2024