Portfolio of Investments
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
Common Stocks 100.1% | ||
Issuer | Shares | Value ($) |
Communication Services 2.7% | ||
Diversified Telecommunication Services 0.5% | ||
Liberty Latin America Ltd., Class C(a) | 283,074 | 3,713,931 |
Entertainment 0.4% | ||
Gaia, Inc.(a) | 155,940 | 1,478,311 |
Playstudios, Inc.(a) | 276,359 | 1,260,197 |
Total | 2,738,508 | |
Interactive Media & Services 0.8% | ||
Cargurus, Inc.(a) | 148,250 | 4,656,532 |
Trivago NV, ADR(a) | 606,525 | 1,498,117 |
Total | 6,154,649 | |
Media 0.4% | ||
Criteo SA, ADR(a) | 94,218 | 3,453,090 |
Wireless Telecommunication Services 0.6% | ||
Telephone and Data Systems, Inc. | 237,750 | 4,636,125 |
Total Communication Services | 20,696,303 | |
Consumer Discretionary 9.5% | ||
Auto Components 1.4% | ||
Gentherm, Inc.(a) | 52,114 | 4,217,586 |
Modine Manufacturing Co.(a) | 187,081 | 2,119,628 |
Visteon Corp.(a) | 45,475 | 4,292,385 |
Total | 10,629,599 | |
Distributors 0.2% | ||
Educational Development Corp. | 140,225 | 1,367,194 |
Diversified Consumer Services 1.3% | ||
American Public Education, Inc.(a) | 91,378 | 2,340,191 |
Carriage Services, Inc. | 68,570 | 3,057,536 |
Stride, Inc.(a) | 120,130 | 4,317,472 |
Total | 9,715,199 | |
Household Durables 3.3% | ||
Cavco Industries, Inc.(a) | 15,047 | 3,562,227 |
Ethan Allen Interiors, Inc. | 101,609 | 2,408,133 |
Hamilton Beach Brands Holding Co. | 138,359 | 2,168,086 |
Hooker Furnishings Corp. | 62,423 | 1,684,797 |
Legacy Housing Corp.(a) | 104,270 | 1,873,732 |
Lifetime Brands, Inc. | 114,265 | 2,078,480 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Meritage Homes Corp.(a) | 63,414 | 6,151,158 |
Tri Pointe Homes, Inc.(a) | 249,767 | 5,250,102 |
Total | 25,176,715 | |
Internet & Direct Marketing Retail 0.4% | ||
Redbubble Ltd.(a) | 1,080,937 | 3,373,363 |
Leisure Products 0.5% | ||
Malibu Boats, Inc., Class A(a) | 51,944 | 3,635,041 |
Multiline Retail 0.6% | ||
Big Lots, Inc. | 98,277 | 4,261,291 |
Specialty Retail 0.5% | ||
Urban Outfitters, Inc.(a) | 140,038 | 4,157,728 |
Textiles, Apparel & Luxury Goods 1.3% | ||
Culp, Inc. | 127,533 | 1,642,625 |
Movado Group, Inc. | 99,742 | 3,140,876 |
Steven Madden Ltd. | 118,620 | 4,763,779 |
Total | 9,547,280 | |
Total Consumer Discretionary | 71,863,410 | |
Consumer Staples 4.6% | ||
Beverages 0.5% | ||
MGP Ingredients, Inc. | 59,991 | 3,905,414 |
Food & Staples Retailing 1.2% | ||
Andersons, Inc. (The) | 120,491 | 3,714,738 |
Sprouts Farmers Market, Inc.(a) | 207,620 | 4,810,555 |
Total | 8,525,293 | |
Food Products 2.1% | ||
Dole PLC(a) | 226,070 | 3,834,147 |
Fresh Del Monte Produce, Inc. | 176,653 | 5,691,760 |
TreeHouse Foods, Inc.(a) | 162,350 | 6,474,518 |
Total | 16,000,425 | |
Personal Products 0.8% | ||
Honest Co., Inc. (The)(a) | 279,576 | 2,901,999 |
Inter Parfums, Inc. | 40,009 | 2,991,473 |
Total | 5,893,472 | |
Total Consumer Staples | 34,324,604 |
Columbia Variable Portfolio – Small Cap Value Fund | Quarterly Report 2021 | 1 |
Portfolio of Investments (continued)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Energy 7.2% | ||
Energy Equipment & Services 3.6% | ||
ChampionX Corp.(a) | 296,830 | 6,637,119 |
Core Laboratories NV | 89,220 | 2,475,855 |
Dawson Geophysical Co.(a) | 565,204 | 1,407,358 |
Expro Group Holdings NV(a) | 565,307 | 1,662,003 |
Natural Gas Services Group, Inc.(a) | 180,567 | 1,874,285 |
Newpark Resources, Inc.(a) | 1,047,435 | 3,456,535 |
Pason Systems, Inc. | 278,958 | 1,898,483 |
Profire Energy, Inc.(a) | 680,732 | 782,842 |
ProPetro Holding Corp.(a) | 192,850 | 1,668,152 |
TechnipFMC PLC(a) | 697,948 | 5,255,548 |
Total | 27,118,180 | |
Oil, Gas & Consumable Fuels 3.6% | ||
Chesapeake Energy Corp. | 125,540 | 7,732,009 |
HollyFrontier Corp. | 124,030 | 4,109,114 |
Range Resources Corp.(a) | 391,650 | 8,863,039 |
Talos Energy, Inc.(a) | 319,410 | 4,398,276 |
W&T Offshore, Inc.(a) | 439,960 | 1,636,651 |
Total | 26,739,089 | |
Total Energy | 53,857,269 | |
Financials 30.6% | ||
Banks 18.4% | ||
Altabancorp | 55,437 | 2,448,098 |
Ameris Bancorp | 149,051 | 7,732,766 |
BancFirst Corp. | 83,323 | 5,009,379 |
Bank of Marin Bancorp | 62,578 | 2,362,320 |
BankUnited, Inc. | 189,512 | 7,925,392 |
Banner Corp. | 88,592 | 4,891,164 |
Brookline Bancorp, Inc. | 273,961 | 4,180,645 |
Capital Bancorp, Inc. | 109,023 | 2,623,093 |
Capital City Bank Group, Inc. | 118,844 | 2,940,201 |
Central Pacific Financial Corp. | 104,199 | 2,675,830 |
Central Valley Community Bancorp | 80,910 | 1,739,565 |
Columbia Banking System, Inc. | 139,966 | 5,317,308 |
Community Trust Bancorp, Inc. | 75,824 | 3,192,190 |
First BanCorp | 534,693 | 7,031,213 |
First BanCorp | 108,032 | 4,646,456 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
First Community Corp. | 157,622 | 3,144,559 |
First Financial Corp. | 98,976 | 4,161,941 |
First of Long Island Corp. (The) | 111,687 | 2,300,752 |
FVCBankcorp, Inc.(a) | 85,930 | 1,717,741 |
Heritage Financial Corp. | 143,510 | 3,659,505 |
Hilltop Holdings, Inc. | 171,650 | 5,607,805 |
National Bank Holdings Corp., Class A | 94,289 | 3,816,819 |
Northrim BanCorp, Inc. | 130,754 | 5,558,353 |
OFG Bancorp | 210,809 | 5,316,603 |
Plumas Bancorp | 48,381 | 1,515,777 |
Popular, Inc. | 144,190 | 11,199,237 |
Professional Holding Corp., Class A(a) | 83,853 | 1,576,436 |
Shore Bancshares, Inc. | 109,752 | 1,945,903 |
Sierra Bancorp | 71,814 | 1,743,644 |
Southern First Bancshares, Inc.(a) | 66,035 | 3,532,873 |
Spirit of Texas Bancshares, Inc. | 128,413 | 3,107,595 |
Towne Bank | 191,400 | 5,954,454 |
UMB Financial Corp. | 87,547 | 8,466,670 |
Total | 139,042,287 | |
Capital Markets 0.5% | ||
StoneX Group, Inc.(a) | 63,774 | 4,202,707 |
Consumer Finance 1.7% | ||
Ezcorp, Inc., Class A(a) | 559,430 | 4,234,885 |
FirstCash, Inc. | 41,574 | 3,637,725 |
PROG Holdings, Inc. | 114,229 | 4,798,760 |
Total | 12,671,370 | |
Insurance 4.9% | ||
American Equity Investment Life Holding Co. | 183,915 | 5,438,366 |
Crawford & Co., Class A | 213,790 | 1,917,696 |
eHealth, Inc.(a) | 72,258 | 2,926,449 |
Employers Holdings, Inc. | 91,806 | 3,625,419 |
Global Indemnity Group LLC | 211,660 | 5,661,905 |
Heritage Insurance Holdings, Inc. | 271,011 | 1,845,585 |
Horace Mann Educators Corp. | 70,482 | 2,804,479 |
Mercury General Corp. | 74,490 | 4,146,858 |
National Western Life Group, Inc., Class A | 18,505 | 3,896,968 |
ProAssurance Corp. | 183,633 | 4,366,793 |
Total | 36,630,518 |
2 | Columbia Variable Portfolio – Small Cap Value Fund | Quarterly Report 2021 |
Portfolio of Investments (continued)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Thrifts & Mortgage Finance 5.1% | ||
HomeStreet, Inc. | 85,490 | 3,517,914 |
MGIC Investment Corp. | 473,466 | 7,083,051 |
NMI Holdings, Inc., Class A(a) | 193,409 | 4,372,977 |
Provident Financial Holdings, Inc. | 139,047 | 2,374,923 |
Radian Group, Inc. | 368,570 | 8,373,910 |
Riverview Bancorp, Inc. | 215,905 | 1,569,629 |
Territorial Bancorp, Inc. | 76,431 | 1,939,819 |
Washington Federal, Inc. | 183,712 | 6,303,159 |
Western New England Bancorp, Inc. | 326,009 | 2,780,857 |
Total | 38,316,239 | |
Total Financials | 230,863,121 | |
Health Care 8.7% | ||
Biotechnology 4.0% | ||
ACADIA Pharmaceuticals, Inc.(a) | 205,131 | 3,407,226 |
Allogene Therapeutics, Inc.(a) | 116,030 | 2,981,971 |
Atara Biotherapeutics, Inc.(a) | 213,045 | 3,813,505 |
Coherus Biosciences, Inc.(a) | 209,581 | 3,367,967 |
Insmed, Inc.(a) | 157,630 | 4,341,130 |
Iovance Biotherapeutics, Inc.(a) | 131,805 | 3,250,311 |
Sage Therapeutics, Inc.(a) | 71,880 | 3,185,003 |
Spero Therapeutics, Inc.(a) | 125,811 | 2,316,181 |
uniQure NV(a) | 115,130 | 3,685,311 |
Total | 30,348,605 | |
Health Care Equipment & Supplies 1.1% | ||
Inogen, Inc.(a) | 73,926 | 3,185,472 |
iRhythm Technologies, Inc.(a) | 68,775 | 4,027,464 |
Quotient Ltd.(a) | 354,089 | 828,568 |
Total | 8,041,504 | |
Health Care Technology 0.4% | ||
Sharecare, Inc.(a) | 324,860 | 2,673,598 |
Pharmaceuticals 3.2% | ||
Aerie Pharmaceuticals, Inc.(a) | 216,322 | 2,466,071 |
ANI Pharmaceuticals, Inc.(a) | 67,005 | 2,199,104 |
Athira Pharma, Inc.(a) | 149,390 | 1,401,278 |
Perrigo Co. PLC | 171,070 | 8,096,743 |
Satsuma Pharmaceuticals, Inc.(a) | 261,286 | 1,217,593 |
Supernus Pharmaceuticals, Inc.(a) | 148,572 | 3,962,415 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Taro Pharmaceutical Industries Ltd.(a) | 57,861 | 3,681,696 |
TherapeuticsMD, Inc.(a) | 1,657,350 | 1,228,759 |
Total | 24,253,659 | |
Total Health Care | 65,317,366 | |
Industrials 14.7% | ||
Aerospace & Defense 1.4% | ||
Curtiss-Wright Corp. | 38,090 | 4,806,196 |
Moog, Inc., Class A | 78,295 | 5,968,428 |
Total | 10,774,624 | |
Airlines 0.5% | ||
Skywest, Inc.(a) | 81,570 | 4,024,664 |
Building Products 1.7% | ||
Caesarstone Ltd. | 169,028 | 2,099,328 |
Resideo Technologies, Inc.(a) | 195,380 | 4,843,470 |
UFP Industries, Inc. | 82,676 | 5,620,314 |
Total | 12,563,112 | |
Commercial Services & Supplies 0.9% | ||
HNI Corp. | 112,113 | 4,116,789 |
KAR Auction Services, Inc.(a) | 168,253 | 2,757,667 |
Total | 6,874,456 | |
Construction & Engineering 0.4% | ||
Dycom Industries, Inc.(a) | 46,520 | 3,314,085 |
Electrical Equipment 2.3% | ||
Acuity Brands, Inc. | 29,000 | 5,027,730 |
AZZ, Inc. | 73,841 | 3,928,341 |
Encore Wire Corp. | 60,602 | 5,746,888 |
Thermon(a) | 133,313 | 2,307,648 |
Total | 17,010,607 | |
Machinery 2.9% | ||
Gorman-Rupp Co. | 85,245 | 3,052,624 |
Greenbrier Companies, Inc. (The) | 98,670 | 4,241,823 |
Hurco Companies, Inc. | 52,811 | 1,703,683 |
LB Foster Co., Class A(a) | 111,362 | 1,724,997 |
Manitex International, Inc.(a) | 293,034 | 2,103,984 |
Mueller Industries, Inc. | 127,870 | 5,255,457 |
Standex International Corp. | 40,519 | 4,007,734 |
Total | 22,090,302 |
Columbia Variable Portfolio – Small Cap Value Fund | Quarterly Report 2021 | 3 |
Portfolio of Investments (continued)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Marine 0.5% | ||
Costamare, Inc. | 228,227 | 3,535,236 |
Professional Services 1.3% | ||
Korn/Ferry International | 104,375 | 7,552,575 |
Red Violet, Inc.(a) | 76,354 | 1,970,697 |
Total | 9,523,272 | |
Road & Rail 1.8% | ||
Marten Transport Ltd. | 268,831 | 4,217,958 |
Schneider National, Inc., Class B | 201,690 | 4,586,431 |
Werner Enterprises, Inc. | 102,828 | 4,552,196 |
Total | 13,356,585 | |
Trading Companies & Distributors 1.0% | ||
H&E Equipment Services, Inc. | 102,155 | 3,545,800 |
Textainer Group Holdings Ltd.(a) | 111,091 | 3,878,187 |
Total | 7,423,987 | |
Total Industrials | 110,490,930 | |
Information Technology 7.1% | ||
Communications Equipment 2.3% | ||
Applied Optoelectronics, Inc.(a) | 274,630 | 1,971,843 |
Casa Systems, Inc.(a) | 307,918 | 2,087,684 |
Digi International, Inc.(a) | 138,572 | 2,912,783 |
KVH Industries, Inc.(a) | 172,740 | 1,663,486 |
NETGEAR, Inc.(a) | 114,037 | 3,638,921 |
Netscout Systems, Inc.(a) | 193,671 | 5,219,434 |
Total | 17,494,151 | |
Electronic Equipment, Instruments & Components 2.3% | ||
Airgain, Inc.(a) | 113,284 | 1,428,511 |
Bel Fuse, Inc., Class B | 141,530 | 1,759,218 |
ePlus, Inc.(a) | 43,836 | 4,498,012 |
Powerfleet, Inc.(a) | 231,900 | 1,553,730 |
Vishay Intertechnology, Inc. | 305,131 | 6,130,082 |
Vishay Precision Group, Inc.(a) | 49,854 | 1,733,423 |
Total | 17,102,976 | |
IT Services 0.9% | ||
Cass Information Systems, Inc. | 60,746 | 2,542,220 |
IBEX Holdings Ltd.(a) | 146,233 | 2,485,961 |
International Money Express, Inc.(a) | 119,888 | 2,002,130 |
Total | 7,030,311 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Semiconductors & Semiconductor Equipment 0.9% | ||
Cohu, Inc.(a) | 98,931 | 3,159,856 |
CyberOptics Corp.(a) | 51,070 | 1,817,071 |
NeoPhotonics Corp.(a) | 224,450 | 1,954,959 |
Total | 6,931,886 | |
Software 0.7% | ||
Asure Software, Inc.(a) | 210,947 | 1,900,633 |
Cognyte Software Ltd.(a) | 153,491 | 3,154,240 |
Total | 5,054,873 | |
Total Information Technology | 53,614,197 | |
Materials 8.0% | ||
Chemicals 1.4% | ||
Livent Corp.(a) | 178,108 | 4,116,076 |
Tronox Holdings PLC, Class A | 246,664 | 6,080,268 |
Total | 10,196,344 | |
Construction Materials 0.7% | ||
Eagle Materials, Inc. | 40,880 | 5,361,821 |
Containers & Packaging 0.5% | ||
Greif, Inc., Class A | 60,643 | 3,917,538 |
Metals & Mining 4.1% | ||
Ampco-Pittsburgh Corp.(a) | 453,061 | 2,129,387 |
Capstone Mining Corp.(a) | 896,215 | 3,488,347 |
Centerra Gold, Inc. | 432,090 | 2,950,875 |
Commercial Metals Co. | 232,360 | 7,077,686 |
ERO Copper Corp.(a) | 193,544 | 3,432,021 |
Ferroglobe PLC(a) | 255,553 | 2,223,311 |
Olympic Steel, Inc. | 71,648 | 1,745,345 |
Pretium Resources, Inc.(a) | 390,669 | 3,778,379 |
Torex Gold Resources, Inc.(a) | 254,207 | 2,540,866 |
Universal Stainless & Alloy Products, Inc.(a) | 160,695 | 1,664,800 |
Total | 31,031,017 | |
Paper & Forest Products 1.3% | ||
Clearwater Paper Corp.(a) | 73,710 | 2,825,304 |
Glatfelter Corp. | 183,263 | 2,584,008 |
Louisiana-Pacific Corp. | 67,840 | 4,163,341 |
Total | 9,572,653 | |
Total Materials | 60,079,373 |
4 | Columbia Variable Portfolio – Small Cap Value Fund | Quarterly Report 2021 |
Portfolio of Investments (continued)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Columbia Variable Portfolio – Small Cap Value Fund, September 30, 2021 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Real Estate 6.0% | ||
Equity Real Estate Investment Trusts (REITS) 6.0% | ||
American Assets Trust, Inc. | 141,700 | 5,302,414 |
Brixmor Property Group, Inc. | 146,680 | 3,243,095 |
Farmland Partners, Inc. | 258,004 | 3,093,468 |
Highwoods Properties, Inc. | 73,700 | 3,232,482 |
Hudson Pacific Properties, Inc. | 145,197 | 3,814,325 |
Macerich Co. (The) | 207,250 | 3,463,148 |
Pebblebrook Hotel Trust | 258,554 | 5,794,195 |
PotlatchDeltic Corp. | 122,602 | 6,323,811 |
RLJ Lodging Trust | 376,776 | 5,598,891 |
Sunstone Hotel Investors, Inc.(a) | 454,079 | 5,421,703 |
Total | 45,287,532 | |
Total Real Estate | 45,287,532 | |
Utilities 1.0% | ||
Gas Utilities 1.0% | ||
National Fuel Gas Co. | 99,670 | 5,234,668 |
RGC Resources, Inc. | 87,641 | 1,985,069 |
Total | 7,219,737 | |
Total Utilities | 7,219,737 | |
Total Common Stocks (Cost $661,841,413) | 753,613,842 | |
Money Market Funds 0.0% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.065%(b),(c) | 10,466 | 10,465 |
Total Money Market Funds (Cost $10,465) | 10,465 | |
Total Investments in Securities (Cost: $661,851,878) | 753,624,307 | |
Other Assets & Liabilities, Net | (402,173) | |
Net Assets | 753,222,134 |
Notes to Portfolio of Investments
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at September 30, 2021. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended September 30, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.065% | ||||||||
461,061 | 289,737,202 | (290,187,798) | — | 10,465 | — | 4,001 | 10,466 |
Abbreviation Legend
ADR | American Depositary Receipt |
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
Columbia Variable Portfolio – Small Cap Value Fund | Quarterly Report 2021 | 5 |
You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.
3QT7024_12_L01_(11/21)