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Variable Portfolio – U.S. Flexible Moderate Growth Fund
Third Quarter Report
September 30, 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 InvestmentsVariable Portfolio – U.S. Flexible Moderate Growth Fund, September 30, 2024 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
Equity Funds 48.9% | ||
Shares | Value ($) | |
U.S. Large Cap 48.9% | ||
Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares(a),(b) | 1,015,189 | 111,599,709 |
Columbia Variable Portfolio – Large Cap Index Fund, Class 1 Shares(a),(b) | 5,005,263 | 246,208,883 |
Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares(a),(b) | 4,850,516 | 110,494,767 |
Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares(a),(b) | 2,213,822 | 99,179,218 |
CTIVP® – Principal Blue Chip Growth Fund, Class 1 Shares(a),(b) | 1,425,357 | 99,019,545 |
CTIVP® – T. Rowe Price Large Cap Value Fund, Class 1 Shares(a),(b) | 2,438,240 | 98,992,573 |
CTIVP® – Westfield Select Large Cap Growth Fund, Class 1 Shares(a),(b) | 1,787,708 | 96,268,091 |
Variable Portfolio – Partners Core Equity Fund, Class 1 Shares(a),(b) | 4,300,005 | 195,951,216 |
Total | 1,057,714,002 | |
Total Equity Funds (Cost $508,352,070) | 1,057,714,002 | |
Exchange-Traded Fixed Income Funds 4.4% | ||
Investment Grade 4.4% | ||
iShares iBoxx $ Investment Grade Corporate Bond ETF | 448,863 | 50,712,542 |
Vanguard Intermediate-Term Corporate Bond ETF | 534,400 | 44,756,000 |
Total | 95,468,542 | |
Total Exchange-Traded Fixed Income Funds (Cost $91,879,730) | 95,468,542 | |
Fixed Income Funds 25.1% | ||
Investment Grade 25.1% | ||
Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares(a) | 11,159,120 | 96,637,977 |
Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares(a) | 3,174,735 | 30,445,710 |
Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares(a) | 6,117,066 | 48,141,308 |
Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares(a) | 3,413,981 | 31,203,787 |
Fixed Income Funds (continued) | ||
Shares | Value ($) | |
CTIVP® – American Century Diversified Bond Fund, Class 1 Shares(a) | 14,720,431 | 136,016,781 |
CTIVP® – TCW Core Plus Bond Fund, Class 1 Shares(a) | 11,745,351 | 110,876,119 |
Variable Portfolio – Partners Core Bond Fund, Class 1 Shares(a) | 8,920,165 | 88,131,229 |
Total | 541,452,911 | |
Total Fixed Income Funds (Cost $614,058,199) | 541,452,911 |
Residential Mortgage-Backed Securities - Agency 8.8% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Uniform Mortgage-Backed Security TBA(c) | ||||
10/17/2039- 10/15/2054 | 3.000% | 72,100,000 | 64,910,664 | |
10/17/2039- 10/15/2054 | 3.500% | 20,025,000 | 18,784,869 | |
10/17/2039- 10/15/2054 | 4.000% | 48,400,000 | 46,640,870 | |
10/15/2054 | 4.500% | 35,650,000 | 35,044,915 | |
10/15/2054 | 5.000% | 25,300,000 | 25,283,199 | |
Total Residential Mortgage-Backed Securities - Agency (Cost $191,977,084) | 190,664,517 |
Call Option Contracts Purchased 0.0% | ||||
Value ($) | ||||
(Cost $591,337) | 756,900 | |||
Put Option Contracts Purchased 0.6% | ||||
(Cost $12,691,508) | 12,140,105 |
Money Market Funds 20.2% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.123%(a),(d) | 436,549,709 | 436,506,054 |
Total Money Market Funds (Cost $436,357,474) | 436,506,054 | |
Total Investments in Securities (Cost: $1,855,907,402) | 2,334,703,031 | |
Other Assets & Liabilities, Net | (172,192,168 ) | |
Net Assets | 2,162,510,863 |
At September 30, 2024, securities and/or cash totaling $24,138,159 were pledged as collateral.
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Variable Portfolio – U.S. Flexible Moderate Growth Fund | 2024
Portfolio of Investments (continued)Variable Portfolio – U.S. Flexible Moderate Growth Fund, September 30, 2024 (Unaudited)
Investments in derivatives
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 733 | 12/2024 | USD | 213,092,263 | 4,920,528 | — |
U.S. Long Bond | 44 | 12/2024 | USD | 5,464,250 | — | (3,510 ) |
U.S. Treasury 10-Year Note | 72 | 12/2024 | USD | 8,228,250 | 12,019 | — |
U.S. Treasury 10-Year Note | 35 | 12/2024 | USD | 3,999,844 | — | (1,289 ) |
U.S. Treasury 2-Year Note | 283 | 12/2024 | USD | 58,932,539 | 212,480 | — |
U.S. Treasury 2-Year Note | 30 | 12/2024 | USD | 6,247,266 | — | (3,335 ) |
U.S. Treasury 5-Year Note | 450 | 12/2024 | USD | 49,447,266 | 172,977 | — |
U.S. Treasury 5-Year Note | 56 | 12/2024 | USD | 6,153,438 | — | (8,741 ) |
U.S. Treasury Ultra Bond | 44 | 12/2024 | USD | 5,856,125 | — | (9,997 ) |
Total | 5,318,004 | (26,872 ) |
Call option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
S&P 500 Index | Morgan Stanley | USD | 10,372,464 | 18 | 5,690.00 | 12/20/2024 | 313,209 | 423,720 |
S&P 500 Index | Morgan Stanley | USD | 10,372,464 | 18 | 5,765.00 | 12/20/2024 | 278,128 | 333,180 |
Total | 591,337 | 756,900 |
Put option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
S&P 500 Index | Morgan Stanley | USD | 212,059,264 | 368 | 4,300.00 | 12/19/2025 | 3,095,810 | 2,820,720 |
S&P 500 Index | Morgan Stanley | USD | 91,047,184 | 158 | 4,500.00 | 12/19/2025 | 1,434,565 | 1,480,460 |
S&P 500 Index | Morgan Stanley | USD | 204,568,040 | 355 | 4,600.00 | 06/18/2026 | 5,235,457 | 5,048,100 |
S&P 500 Index | Morgan Stanley | USD | 89,318,440 | 155 | 4,500.00 | 06/18/2026 | 2,151,947 | 2,017,325 |
S&P 500 Index | Morgan Stanley | USD | 37,456,120 | 65 | 4,400.00 | 06/18/2026 | 773,729 | 773,500 |
Total | 12,691,508 | 12,140,105 |
Put option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
S&P 500 Index | Morgan Stanley | USD | (10,372,464 ) | (18 ) | 5,690.00 | 12/20/2024 | (298,782 ) | (209,790 ) |
S&P 500 Index | Morgan Stanley | USD | (10,372,464 ) | (18 ) | 5,765.00 | 12/20/2024 | (278,073 ) | (247,860 ) |
Total | (576,855 ) | (457,650 ) |
Notes to Portfolio of Investments
(a) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended September 30, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Capital gain distributions($) | Realized gain (loss)($) | Dividends — affiliated issuers ($) | End of period shares |
Columbia Short-Term Cash Fund, 5.123% | |||||||||
463,331,114 | 567,785,232 | (594,646,403 ) | 36,111 | 436,506,054 | — | 3,398 | 19,025,466 | 436,549,709 | |
Columbia Variable Portfolio – Disciplined Core Fund, Class 1 Shares | |||||||||
100,947,738 | — | (5,577,926 ) | 16,229,897 | 111,599,709 | — | 5,699,935 | — | 1,015,189 | |
Columbia Variable Portfolio – Intermediate Bond Fund, Class 1 Shares | |||||||||
90,763,505 | 5,120,080 | (239,154 ) | 993,546 | 96,637,977 | — | (59,356 ) | 4,451,612 | 11,159,120 |
Variable Portfolio – U.S. Flexible Moderate Growth Fund | 2024
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Portfolio of Investments (continued)Variable Portfolio – U.S. Flexible Moderate Growth Fund, September 30, 2024 (Unaudited)
Notes to Portfolio of Investments (continued)
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Capital gain distributions($) | Realized gain (loss)($) | Dividends — affiliated issuers ($) | End of period shares |
Columbia Variable Portfolio – Large Cap Index Fund, Class 1 Shares | |||||||||
223,887,348 | — | (11,569,899 ) | 33,891,434 | 246,208,883 | — | 12,860,111 | — | 5,005,263 | |
Columbia Variable Portfolio – Limited Duration Credit Fund, Class 1 Shares | |||||||||
28,635,688 | 1,448,917 | — | 361,105 | 30,445,710 | — | — | 1,139,342 | 3,174,735 | |
Columbia Variable Portfolio – Long Government/Credit Bond Fund, Class 1 Shares | |||||||||
46,096,933 | 2,205,470 | (150,242 ) | (10,853 ) | 48,141,308 | — | (50,545 ) | 1,765,833 | 6,117,066 | |
Columbia Variable Portfolio – Select Large Cap Equity Fund, Class 1 Shares | |||||||||
101,313,557 | — | (7,336,220 ) | 16,517,430 | 110,494,767 | — | 3,104,457 | — | 4,850,516 | |
Columbia Variable Portfolio – Select Large Cap Value Fund, Class 1 Shares | |||||||||
90,499,631 | 33,628 | (3,171,085 ) | 11,817,044 | 99,179,218 | — | 2,113,555 | — | 2,213,822 | |
Columbia Variable Portfolio – U.S. Government Mortgage Fund, Class 1 Shares | |||||||||
29,311,873 | 1,223,161 | (83,814 ) | 752,567 | 31,203,787 | — | (12,428 ) | 993,150 | 3,413,981 | |
CTIVP® – American Century Diversified Bond Fund, Class 1 Shares | |||||||||
128,410,637 | 6,570,019 | (24,360 ) | 1,060,485 | 136,016,781 | — | (5,225 ) | 5,521,330 | 14,720,431 | |
CTIVP® – Principal Blue Chip Growth Fund, Class 1 Shares | |||||||||
92,966,639 | — | (4,451,969 ) | 10,504,875 | 99,019,545 | — | 5,188,242 | — | 1,425,357 | |
CTIVP® – T. Rowe Price Large Cap Value Fund, Class 1 Shares | |||||||||
91,300,924 | 7,625 | (3,606,002 ) | 11,290,026 | 98,992,573 | — | 2,634,737 | — | 2,438,240 | |
CTIVP® – TCW Core Plus Bond Fund, Class 1 Shares | |||||||||
105,043,015 | 5,337,961 | (19,585 ) | 514,728 | 110,876,119 | — | (3,608 ) | 4,410,194 | 11,745,351 | |
CTIVP® – Westfield Select Large Cap Growth Fund, Class 1 Shares | |||||||||
— | 90,000,143 | — | 6,267,948 | 96,268,091 | — | — | — | 1,787,708 | |
Variable Portfolio – Partners Core Bond Fund, Class 1 Shares | |||||||||
82,984,186 | 3,763,232 | (19,869 ) | 1,403,680 | 88,131,229 | — | (2,725 ) | 3,074,129 | 8,920,165 | |
Variable Portfolio – Partners Core Equity Fund, Class 1 Shares | |||||||||
179,089,176 | — | (10,226,837 ) | 27,088,877 | 195,951,216 | — | 11,092,169 | — | 4,300,005 | |
Total | 1,854,581,964 | 138,718,900 | 2,035,672,967 | — | 42,562,717 | 40,381,056 |
(b) | Non-income producing investment. |
(c) | Represents a security purchased on a when-issued basis. |
(d) | The rate shown is the seven-day current annualized yield at September 30, 2024. |
Abbreviation Legend
TBA | To Be Announced |
Currency Legend
USD | US Dollar |
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
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Variable Portfolio – U.S. Flexible Moderate Growth Fund | 2024