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Columbia Variable Portfolio – Large Cap Index 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 Investments
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
 
 
Common Stocks 99.1%
Issuer
Shares
Value ($)
Communication Services 8.9%
Diversified Telecommunication Services 0.7%
AT&T, Inc.
326,998
5,755,165
Verizon Communications, Inc.
192,278
8,067,985
Total
 
13,823,150
Entertainment 1.3%
Electronic Arts, Inc.
11,127
1,476,219
Live Nation Entertainment, Inc.(a)
6,489
686,342
Netflix, Inc.(a)
19,792
12,020,275
Take-Two Interactive Software, Inc.(a)
7,252
1,076,850
Walt Disney Co. (The)
83,890
10,264,780
Warner Bros Discovery, Inc.(a)
101,488
885,990
Total
 
26,410,456
Interactive Media & Services 6.1%
Alphabet, Inc., Class A(a)
269,510
40,677,144
Alphabet, Inc., Class C(a)
225,641
34,356,099
Match Group, Inc.(a)
12,431
450,997
Meta Platforms, Inc., Class A
100,617
48,857,603
Total
 
124,341,843
Media 0.6%
Charter Communications, Inc., Class A(a)
4,516
1,312,485
Comcast Corp., Class A
181,217
7,855,757
Fox Corp., Class A
10,945
342,250
Fox Corp., Class B
6,033
172,664
Interpublic Group of Companies, Inc. (The)
17,516
571,547
News Corp., Class A
17,379
454,982
News Corp., Class B
5,244
141,903
Omnicom Group, Inc.
9,055
876,162
Paramount Global, Class B
22,065
259,705
Total
 
11,987,455
Wireless Telecommunication Services 0.2%
T-Mobile US, Inc.
23,883
3,898,183
Total Communication Services
180,461,087
Common Stocks (continued)
Issuer
Shares
Value ($)
Consumer Discretionary 10.3%
Automobile Components 0.1%
Aptiv PLC(a)
12,761
1,016,413
BorgWarner, Inc.
10,509
365,083
Total
 
1,381,496
Automobiles 1.3%
Ford Motor Co.
178,490
2,370,347
General Motors Co.
52,797
2,394,344
Tesla, Inc.(a)
126,718
22,275,758
Total
 
27,040,449
Broadline Retail 3.8%
Amazon.com, Inc.(a)
418,050
75,407,859
eBay, Inc.
23,736
1,252,786
Etsy, Inc.(a)
5,476
376,311
Total
 
77,036,956
Distributors 0.1%
Genuine Parts Co.
6,412
993,411
LKQ Corp.
12,238
653,632
Pool Corp.
1,769
713,791
Total
 
2,360,834
Hotels, Restaurants & Leisure 2.0%
Airbnb, Inc., Class A(a)
19,920
3,286,003
Booking Holdings, Inc.
1,596
5,790,096
Caesars Entertainment, Inc.(a)
9,865
431,495
Carnival Corp.(a)
46,077
752,898
Chipotle Mexican Grill, Inc.(a)
1,254
3,645,090
Darden Restaurants, Inc.
5,461
912,806
Domino’s Pizza, Inc.
1,595
792,524
Expedia Group, Inc.(a)
5,980
823,745
Hilton Worldwide Holdings, Inc.
11,532
2,459,891
Las Vegas Sands Corp.
16,888
873,110
Marriott International, Inc., Class A
11,283
2,846,814
McDonald’s Corp.
33,173
9,353,127
MGM Resorts International(a)
12,498
590,031
Norwegian Cruise Line Holdings Ltd.(a)
19,456
407,214
Royal Caribbean Cruises Ltd.(a)
10,789
1,499,779
2
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Starbucks Corp.
51,780
4,732,174
Wynn Resorts Ltd.
4,358
445,518
Yum! Brands, Inc.
12,851
1,781,791
Total
 
41,424,106
Household Durables 0.4%
D.R. Horton, Inc.
13,658
2,247,424
Garmin Ltd.
7,000
1,042,090
Lennar Corp., Class A
11,304
1,944,062
Mohawk Industries, Inc.(a)
2,417
316,361
NVR, Inc.(a)
146
1,182,594
PulteGroup, Inc.
9,701
1,170,135
Total
 
7,902,666
Leisure Products 0.0%
Hasbro, Inc.
5,965
337,142
Specialty Retail 2.1%
AutoZone, Inc.(a)
791
2,492,955
Bath & Body Works, Inc.
10,333
516,857
Best Buy Co., Inc.
8,767
719,157
CarMax, Inc.(a)
7,222
629,108
Home Depot, Inc. (The)
45,517
17,460,321
Lowe’s Companies, Inc.
26,302
6,699,908
O’Reilly Automotive, Inc.(a)
2,702
3,050,234
Ross Stores, Inc.
15,397
2,259,664
TJX Companies, Inc. (The)
52,122
5,286,213
Tractor Supply Co.
4,944
1,293,944
Ulta Beauty, Inc.(a)
2,221
1,161,317
Total
 
41,569,678
Textiles, Apparel & Luxury Goods 0.5%
Deckers Outdoor Corp.(a)
1,174
1,105,039
lululemon athletica, Inc.(a)
5,252
2,051,694
NIKE, Inc., Class B
55,669
5,231,773
Ralph Lauren Corp.
1,786
335,339
Tapestry, Inc.
10,490
498,065
VF Corp.
15,115
231,864
Total
 
9,453,774
Total Consumer Discretionary
208,507,101
Common Stocks (continued)
Issuer
Shares
Value ($)
Consumer Staples 5.9%
Beverages 1.4%
Brown-Forman Corp., Class B
8,270
426,897
Coca-Cola Co. (The)
177,954
10,887,226
Constellation Brands, Inc., Class A
7,357
1,999,338
Keurig Dr. Pepper, Inc.
47,632
1,460,873
Molson Coors Beverage Co., Class B
8,468
569,473
Monster Beverage Corp.(a)
33,784
2,002,716
PepsiCo, Inc.
62,858
11,000,779
Total
 
28,347,302
Consumer Staples Distribution & Retail 1.8%
Costco Wholesale Corp.
20,293
14,867,261
Dollar General Corp.
10,038
1,566,530
Dollar Tree, Inc.(a)
9,466
1,260,398
Kroger Co. (The)
30,270
1,729,325
Sysco Corp.
22,768
1,848,306
Target Corp.
21,114
3,741,612
Walgreens Boots Alliance, Inc.
32,735
710,022
Walmart, Inc.
195,771
11,779,541
Total
 
37,502,995
Food Products 0.8%
Archer-Daniels-Midland Co.
24,394
1,532,187
Bunge Global SA
6,645
681,245
Campbell Soup Co.
8,998
399,961
ConAgra Foods, Inc.
21,861
647,960
General Mills, Inc.
25,972
1,817,261
Hershey Co. (The)
6,855
1,333,298
Hormel Foods Corp.
13,255
462,467
JM Smucker Co. (The)
4,854
610,973
Kellanova
12,062
691,032
Kraft Heinz Co. (The)
36,461
1,345,411
Lamb Weston Holdings, Inc.
6,603
703,418
McCormick & Co., Inc.
11,499
883,238
Mondelez International, Inc., Class A
61,580
4,310,600
Tyson Foods, Inc., Class A
13,095
769,069
Total
 
16,188,120
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
3
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Household Products 1.2%
Church & Dwight Co., Inc.
11,268
1,175,365
Clorox Co. (The)
5,676
869,052
Colgate-Palmolive Co.
37,656
3,390,923
Kimberly-Clark Corp.
15,407
1,992,896
Procter & Gamble Co. (The)
107,613
17,460,209
Total
 
24,888,445
Personal Care Products 0.2%
Estee Lauder Companies, Inc. (The), Class A
10,653
1,642,160
Kenvue, Inc.
78,822
1,691,520
Total
 
3,333,680
Tobacco 0.5%
Altria Group, Inc.
80,650
3,517,953
Philip Morris International, Inc.
71,000
6,505,020
Total
 
10,022,973
Total Consumer Staples
120,283,515
Energy 3.9%
Energy Equipment & Services 0.3%
Baker Hughes Co.
45,774
1,533,429
Halliburton Co.
40,708
1,604,709
Schlumberger NV
65,280
3,577,997
Total
 
6,716,135
Oil, Gas & Consumable Fuels 3.6%
APA Corp.
16,518
567,889
Chevron Corp.
79,323
12,512,410
ConocoPhillips Co.
53,879
6,857,719
Coterra Energy, Inc.
34,401
959,100
Devon Energy Corp.
29,302
1,470,374
Diamondback Energy, Inc.
8,186
1,622,220
EOG Resources, Inc.
26,670
3,409,493
EQT Corp.
18,812
697,361
Exxon Mobil Corp.
181,610
21,110,346
Hess Corp.
12,589
1,921,585
Kinder Morgan, Inc.
88,441
1,622,008
Marathon Oil Corp.
26,766
758,548
Marathon Petroleum Corp.
16,830
3,391,245
Occidental Petroleum Corp.
30,101
1,956,264
ONEOK, Inc.
26,642
2,135,889
Common Stocks (continued)
Issuer
Shares
Value ($)
Phillips 66
19,666
3,212,245
Pioneer Natural Resources Co.
10,685
2,804,813
Targa Resources Corp.
10,198
1,142,074
Valero Energy Corp.
15,570
2,657,643
Williams Companies, Inc. (The)
55,635
2,168,096
Total
 
72,977,322
Total Energy
79,693,457
Financials 13.0%
Banks 3.3%
Bank of America Corp.
314,876
11,940,098
Citigroup, Inc.
87,036
5,504,157
Citizens Financial Group, Inc.
21,322
773,775
Comerica, Inc.
6,032
331,700
Fifth Third Bancorp
31,151
1,159,129
Huntington Bancshares, Inc.
66,237
924,006
JPMorgan Chase & Co.
132,217
26,483,065
KeyCorp
42,833
677,190
M&T Bank Corp.
7,599
1,105,198
PNC Financial Services Group, Inc. (The)
18,203
2,941,605
Regions Financial Corp.
42,258
889,108
Truist Financial Corp.
60,997
2,377,663
U.S. Bancorp
71,208
3,182,998
Wells Fargo & Co.
164,590
9,539,636
Total
 
67,829,328
Capital Markets 2.8%
Ameriprise Financial, Inc.(b)
4,583
2,009,370
Bank of New York Mellon Corp. (The)
34,728
2,001,027
BlackRock, Inc.
6,395
5,331,511
Blackstone, Inc.
32,899
4,321,942
Cboe Global Markets, Inc.
4,827
886,865
Charles Schwab Corp. (The)
68,062
4,923,605
CME Group, Inc.
16,464
3,544,535
FactSet Research Systems, Inc.
1,742
791,547
Franklin Resources, Inc.
13,727
385,866
Goldman Sachs Group, Inc. (The)
14,914
6,229,429
Intercontinental Exchange, Inc.
26,188
3,599,017
Invesco Ltd.
20,557
341,041
MarketAxess Holdings, Inc.
1,734
380,179
Moody’s Corp.
7,198
2,829,030
4
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Morgan Stanley
57,295
5,394,897
MSCI, Inc.
3,617
2,027,148
Nasdaq, Inc.
17,377
1,096,489
Northern Trust Corp.
9,381
834,158
Raymond James Financial, Inc.
8,604
1,104,926
S&P Global, Inc.
14,694
6,251,562
State Street Corp.
13,809
1,067,712
T. Rowe Price Group, Inc.
10,240
1,248,461
Total
 
56,600,317
Consumer Finance 0.5%
American Express Co.
26,153
5,954,777
Capital One Financial Corp.
17,397
2,590,239
Discover Financial Services
11,436
1,499,145
Synchrony Financial
18,607
802,334
Total
 
10,846,495
Financial Services 4.2%
Berkshire Hathaway, Inc., Class B(a)
83,210
34,991,469
Corpay, Inc.(a)
3,302
1,018,799
Fidelity National Information Services, Inc.
27,097
2,010,056
Fiserv, Inc.(a)
27,449
4,386,899
Global Payments, Inc.
11,909
1,591,757
Jack Henry & Associates, Inc.
3,333
579,042
MasterCard, Inc., Class A
37,732
18,170,599
PayPal Holdings, Inc.(a)
49,015
3,283,515
Visa, Inc., Class A
72,332
20,186,415
Total
 
86,218,551
Insurance 2.2%
Aflac, Inc.
24,075
2,067,079
Allstate Corp. (The)
12,005
2,076,985
American International Group, Inc.
32,107
2,509,804
Aon PLC, Class A
9,157
3,055,874
Arch Capital Group Ltd.(a)
16,968
1,568,522
Arthur J Gallagher & Co.
9,915
2,479,147
Assurant, Inc.
2,375
447,070
Brown & Brown, Inc.
10,803
945,695
Chubb Ltd.
18,535
4,802,974
Cincinnati Financial Corp.
7,180
891,541
Everest Group Ltd.
1,985
789,037
Common Stocks (continued)
Issuer
Shares
Value ($)
Globe Life, Inc.
3,917
455,821
Hartford Financial Services Group, Inc. (The)
13,652
1,406,839
Loews Corp.
8,333
652,391
Marsh & McLennan Companies, Inc.
22,501
4,634,756
MetLife, Inc.
28,075
2,080,638
Principal Financial Group, Inc.
10,031
865,776
Progressive Corp. (The)
26,768
5,536,158
Prudential Financial, Inc.
16,510
1,938,274
Travelers Companies, Inc. (The)
10,436
2,401,741
Willis Towers Watson PLC
4,689
1,289,475
WR Berkley Corp.
9,269
819,750
Total
 
43,715,347
Total Financials
265,210,038
Health Care 12.3%
Biotechnology 1.9%
AbbVie, Inc.
80,745
14,703,664
Amgen, Inc.
24,468
6,956,742
Biogen, Inc.(a)
6,627
1,428,980
Gilead Sciences, Inc.
56,985
4,174,151
Incyte Corp.(a)
8,507
484,644
Moderna, Inc.(a)
15,171
1,616,622
Regeneron Pharmaceuticals, Inc.(a)
4,832
4,650,752
Vertex Pharmaceuticals, Inc.(a)
11,786
4,926,666
Total
 
38,942,221
Health Care Equipment & Supplies 2.6%
Abbott Laboratories
79,397
9,024,263
Align Technology, Inc.(a)
3,258
1,068,363
Baxter International, Inc.
23,225
992,636
Becton Dickinson & Co.
13,213
3,269,557
Boston Scientific Corp.(a)
67,000
4,588,830
Cooper Cos, Inc. (The)
9,089
922,170
Dentsply Sirona, Inc.
9,689
321,578
DexCom, Inc.(a)
17,631
2,445,420
Edwards Lifesciences Corp.(a)
27,738
2,650,643
GE HealthCare Technologies, Inc.
19,368
1,760,745
Hologic, Inc.(a)
10,735
836,901
IDEXX Laboratories, Inc.(a)
3,798
2,050,654
Insulet Corp.(a)
3,194
547,452
Intuitive Surgical, Inc.(a)
16,113
6,430,537
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
5
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Medtronic PLC
60,810
5,299,591
ResMed, Inc.
6,727
1,332,148
STERIS PLC
4,519
1,015,962
Stryker Corp.
15,465
5,534,459
Teleflex, Inc.
2,149
486,039
Zimmer Biomet Holdings, Inc.
9,558
1,261,465
Total
 
51,839,413
Health Care Providers & Services 2.6%
Cardinal Health, Inc.
11,124
1,244,776
Cencora, Inc.
7,572
1,839,920
Centene Corp.(a)
24,444
1,918,365
Cigna Group (The)
13,377
4,858,393
CVS Health Corp.
57,554
4,590,507
DaVita, Inc.(a)
2,464
340,155
Elevance Health, Inc.
10,746
5,572,231
HCA Healthcare, Inc.
9,058
3,021,115
Henry Schein, Inc.(a)
5,943
448,815
Humana, Inc.
5,590
1,938,165
Laboratory Corp. of America Holdings
3,883
848,280
McKesson Corp.
6,010
3,226,469
Molina Healthcare, Inc.(a)
2,653
1,089,932
Quest Diagnostics, Inc.
5,076
675,666
UnitedHealth Group, Inc.
42,301
20,926,305
Universal Health Services, Inc., Class B
2,790
509,063
Total
 
53,048,157
Life Sciences Tools & Services 1.4%
Agilent Technologies, Inc.
13,402
1,950,125
Bio-Rad Laboratories, Inc., Class A(a)
957
330,997
Bio-Techne Corp.
7,189
506,034
Charles River Laboratories International, Inc.(a)
2,346
635,649
Danaher Corp.
30,077
7,510,828
Illumina, Inc.(a)
7,263
997,355
IQVIA Holdings, Inc.(a)
8,346
2,110,620
Mettler-Toledo International, Inc.(a)
982
1,307,327
Revvity, Inc.
5,644
592,620
Thermo Fisher Scientific, Inc.
17,670
10,269,981
Waters Corp.(a)
2,704
930,798
West Pharmaceutical Services, Inc.
3,384
1,339,082
Total
 
28,481,416
Common Stocks (continued)
Issuer
Shares
Value ($)
Pharmaceuticals 3.8%
Bristol-Myers Squibb Co.
93,058
5,046,535
Catalent, Inc.(a)
8,266
466,616
Eli Lilly & Co.
36,469
28,371,423
Johnson & Johnson
110,094
17,415,770
Merck & Co., Inc.
115,891
15,291,818
Pfizer, Inc.
258,233
7,165,966
Viatris, Inc.
54,866
655,100
Zoetis, Inc.
20,997
3,552,902
Total
 
77,966,130
Total Health Care
250,277,337
Industrials 8.7%
Aerospace & Defense 1.5%
Axon Enterprise, Inc.(a)
3,221
1,007,786
Boeing Co. (The)(a)
26,230
5,062,128
General Dynamics Corp.
10,383
2,933,094
Howmet Aerospace, Inc.
17,889
1,224,144
Huntington Ingalls Industries, Inc.
1,811
527,852
L3Harris Technologies, Inc.
8,668
1,847,151
Lockheed Martin Corp.
9,836
4,474,101
Northrop Grumman Corp.
6,450
3,087,357
RTX Corp.
60,681
5,918,218
Textron, Inc.
8,964
859,917
TransDigm Group, Inc.
2,543
3,131,959
Total
 
30,073,707
Air Freight & Logistics 0.4%
CH Robinson Worldwide, Inc.
5,335
406,207
Expeditors International of Washington, Inc.
6,649
808,319
FedEx Corp.
10,514
3,046,326
United Parcel Service, Inc., Class B
33,077
4,916,235
Total
 
9,177,087
Building Products 0.5%
Allegion PLC
4,015
540,861
AO Smith Corp.
5,617
502,497
Builders FirstSource, Inc.(a)
5,641
1,176,430
Carrier Global Corp.
38,210
2,221,147
Johnson Controls International PLC
31,168
2,035,894
6
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Masco Corp.
10,051
792,823
Trane Technologies PLC
10,407
3,124,181
Total
 
10,393,833
Commercial Services & Supplies 0.6%
Cintas Corp.
3,941
2,707,585
Copart, Inc.(a)
39,963
2,314,657
Republic Services, Inc.
9,353
1,790,538
Rollins, Inc.
12,839
594,061
Veralto Corp.
10,029
889,171
Waste Management, Inc.
16,763
3,573,034
Total
 
11,869,046
Construction & Engineering 0.1%
Quanta Services, Inc.
6,644
1,726,111
Electrical Equipment 0.6%
AMETEK, Inc.
10,555
1,930,510
Eaton Corp. PLC
18,262
5,710,162
Emerson Electric Co.
26,146
2,965,479
Generac Holdings, Inc.(a)
2,810
354,453
Hubbell, Inc.
2,453
1,018,118
Rockwell Automation, Inc.
5,241
1,526,861
Total
 
13,505,583
Ground Transportation 1.1%
CSX Corp.
90,376
3,350,238
JB Hunt Transport Services, Inc.
3,729
743,003
Norfolk Southern Corp.
10,330
2,632,807
Old Dominion Freight Line, Inc.
8,184
1,794,833
Uber Technologies, Inc.(a)
94,114
7,245,837
Union Pacific Corp.
27,888
6,858,496
Total
 
22,625,214
Industrial Conglomerates 0.9%
3M Co.
25,277
2,681,131
General Electric Co.
49,774
8,736,830
Honeywell International, Inc.
30,150
6,188,288
Total
 
17,606,249
Common Stocks (continued)
Issuer
Shares
Value ($)
Machinery 1.8%
Caterpillar, Inc.
23,282
8,531,223
Cummins, Inc.
6,233
1,836,553
Deere & Co.
11,909
4,891,503
Dover Corp.
6,398
1,133,662
Fortive Corp.
16,039
1,379,675
IDEX Corp.
3,459
844,065
Illinois Tool Works, Inc.
12,435
3,336,684
Ingersoll Rand, Inc.
18,513
1,757,809
Nordson Corp.
2,482
681,408
Otis Worldwide Corp.
18,543
1,840,764
PACCAR, Inc.
23,922
2,963,697
Parker-Hannifin Corp.
5,873
3,264,155
Pentair PLC
7,560
645,926
Snap-On, Inc.
2,414
715,075
Stanley Black & Decker, Inc.
7,012
686,685
Westinghouse Air Brake Technologies Corp.
8,194
1,193,702
Xylem, Inc.
11,025
1,424,871
Total
 
37,127,457
Passenger Airlines 0.2%
American Airlines Group, Inc.(a)
29,923
459,318
Delta Air Lines, Inc.
29,286
1,401,921
Southwest Airlines Co.
27,288
796,536
United Airlines Holdings, Inc.(a)
15,002
718,296
Total
 
3,376,071
Professional Services 0.7%
Automatic Data Processing, Inc.
18,787
4,691,865
Broadridge Financial Solutions, Inc.
5,386
1,103,376
Dayforce, Inc.(a)
7,140
472,739
Equifax, Inc.
5,639
1,508,545
Jacobs Solutions, Inc.
5,747
883,486
Leidos Holdings, Inc.
6,289
824,425
Paychex, Inc.
14,646
1,798,529
Paycom Software, Inc.
2,197
437,225
Robert Half, Inc.
4,763
377,611
Verisk Analytics, Inc.
6,631
1,563,126
Total
 
13,660,927
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
7
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Trading Companies & Distributors 0.3%
Fastenal Co.
26,171
2,018,831
United Rentals, Inc.
3,073
2,215,971
W.W. Grainger, Inc.
2,020
2,054,946
Total
 
6,289,748
Total Industrials
177,431,033
Information Technology 29.3%
Communications Equipment 0.8%
Arista Networks, Inc.(a)
11,525
3,342,020
Cisco Systems, Inc.
185,839
9,275,224
F5, Inc.(a)
2,689
509,808
Juniper Networks, Inc.
14,722
545,597
Motorola Solutions, Inc.
7,590
2,694,298
Total
 
16,366,947
Electronic Equipment, Instruments & Components 0.6%
Amphenol Corp., Class A
27,434
3,164,512
CDW Corp.
6,127
1,567,164
Corning, Inc.
35,117
1,157,456
Jabil, Inc.
5,833
781,330
Keysight Technologies, Inc.(a)
7,988
1,249,163
TE Connectivity Ltd.
14,123
2,051,224
Teledyne Technologies, Inc.(a)
2,158
926,473
Trimble Navigation Ltd.(a)
11,377
732,224
Zebra Technologies Corp., Class A(a)
2,349
708,083
Total
 
12,337,629
IT Services 1.1%
Accenture PLC, Class A
28,675
9,939,042
Akamai Technologies, Inc.(a)
6,898
750,226
Cognizant Technology Solutions Corp., Class A
22,776
1,669,253
EPAM Systems, Inc.(a)
2,639
728,786
Gartner, Inc.(a)
3,565
1,699,329
International Business Machines Corp.
41,847
7,991,103
VeriSign, Inc.(a)
4,031
763,915
Total
 
23,541,654
Common Stocks (continued)
Issuer
Shares
Value ($)
Semiconductors & Semiconductor Equipment 10.2%
Advanced Micro Devices, Inc.(a)
73,896
13,337,489
Analog Devices, Inc.
22,677
4,485,284
Applied Materials, Inc.
38,054
7,847,876
Broadcom, Inc.
20,125
26,673,876
Enphase Energy, Inc.(a)
6,209
751,165
First Solar, Inc.(a)
4,886
824,757
Intel Corp.
193,363
8,540,844
KLA Corp.
6,185
4,320,655
Lam Research Corp.
5,996
5,825,534
Microchip Technology, Inc.
24,714
2,217,093
Micron Technology, Inc.
50,486
5,951,795
Monolithic Power Systems, Inc.
2,197
1,488,292
NVIDIA Corp.
112,963
102,068,848
NXP Semiconductors NV
11,789
2,920,960
ON Semiconductor Corp.(a)
19,543
1,437,388
Qorvo, Inc.(a)
4,416
507,089
QUALCOMM, Inc.
51,039
8,640,903
Skyworks Solutions, Inc.
7,328
793,769
Teradyne, Inc.
6,992
788,907
Texas Instruments, Inc.
41,585
7,244,523
Total
 
206,667,047
Software 10.6%
Adobe, Inc.(a)
20,672
10,431,091
ANSYS, Inc.(a)
3,975
1,379,961
Autodesk, Inc.(a)
9,783
2,547,689
Cadence Design Systems, Inc.(a)
12,442
3,872,946
Fair Isaac Corp.(a)
1,137
1,420,807
Fortinet, Inc.(a)
29,149
1,991,168
Gen Digital, Inc.
25,633
574,179
Intuit, Inc.
12,803
8,321,950
Microsoft Corp.
339,824
142,970,753
Oracle Corp.
72,917
9,159,104
Palo Alto Networks, Inc.(a)
14,420
4,097,155
PTC, Inc.(a)
5,468
1,033,124
Roper Technologies, Inc.
4,885
2,739,703
Salesforce, Inc.
44,271
13,333,540
ServiceNow, Inc.(a)
9,375
7,147,500
8
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Synopsys, Inc.(a)
6,975
3,986,213
Tyler Technologies, Inc.(a)
1,926
818,569
Total
 
215,825,452
Technology Hardware, Storage & Peripherals 6.0%
Apple, Inc.(c)
663,846
113,836,312
Hewlett Packard Enterprise Co.
59,454
1,054,119
HP, Inc.
39,880
1,205,174
NetApp, Inc.
9,423
989,132
Seagate Technology Holdings PLC
8,911
829,169
Super Micro Computer, Inc.(a)
2,303
2,326,099
Western Digital Corp.(a)
14,829
1,011,931
Total
 
121,251,936
Total Information Technology
595,990,665
Materials 2.3%
Chemicals 1.5%
Air Products & Chemicals, Inc.
10,167
2,463,159
Albemarle Corp.
5,367
707,049
Celanese Corp., Class A
4,580
787,119
CF Industries Holdings, Inc.
8,738
727,089
Corteva, Inc.
32,095
1,850,919
Dow, Inc.
32,119
1,860,654
DuPont de Nemours, Inc.
19,671
1,508,175
Eastman Chemical Co.
5,365
537,680
Ecolab, Inc.
11,606
2,679,825
FMC Corp.
5,706
363,472
International Flavors & Fragrances, Inc.
11,675
1,003,933
Linde PLC
22,176
10,296,760
LyondellBasell Industries NV, Class A
11,706
1,197,290
Mosaic Co. (The)
14,947
485,180
PPG Industries, Inc.
10,784
1,562,602
Sherwin-Williams Co. (The)
10,770
3,740,744
Total
 
31,771,650
Construction Materials 0.2%
Martin Marietta Materials, Inc.
2,827
1,735,608
Vulcan Materials Co.
6,077
1,658,535
Total
 
3,394,143
Common Stocks (continued)
Issuer
Shares
Value ($)
Containers & Packaging 0.2%
Amcor PLC
66,101
628,621
Avery Dennison Corp.
3,683
822,230
Ball Corp.
14,420
971,331
International Paper Co.
15,825
617,491
Packaging Corp. of America
4,068
772,025
WestRock Co.
11,752
581,136
Total
 
4,392,834
Metals & Mining 0.4%
Freeport-McMoRan, Inc.
65,582
3,083,665
Newmont Corp.
52,708
1,889,055
Nucor Corp.
11,243
2,224,990
Steel Dynamics, Inc.
6,956
1,031,088
Total
 
8,228,798
Total Materials
47,787,425
Real Estate 2.3%
Health Care REITs 0.2%
Healthpeak Properties, Inc.
32,376
607,050
Ventas, Inc.
18,403
801,267
Welltower, Inc.
25,312
2,365,153
Total
 
3,773,470
Hotel & Resort REITs 0.0%
Host Hotels & Resorts, Inc.
32,262
667,178
Industrial REITs 0.3%
Prologis, Inc.
42,257
5,502,706
Office REITs 0.1%
Alexandria Real Estate Equities, Inc.
7,202
928,410
Boston Properties, Inc.
6,603
431,242
Total
 
1,359,652
Real Estate Management & Development 0.1%
CBRE Group, Inc., Class A(a)
13,600
1,322,464
CoStar Group, Inc.(a)
18,676
1,804,102
Total
 
3,126,566
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
9
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Residential REITs 0.3%
AvalonBay Communities, Inc.
6,487
1,203,728
Camden Property Trust
4,883
480,487
Equity Residential
15,785
996,191
Essex Property Trust, Inc.
2,936
718,762
Invitation Homes, Inc.
26,308
936,828
Mid-America Apartment Communities, Inc.
5,338
702,374
UDR, Inc.
13,840
517,755
Total
 
5,556,125
Retail REITs 0.3%
Federal Realty Investment Trust
3,360
343,123
Kimco Realty Corp.
30,466
597,438
Realty Income Corp.
38,034
2,057,639
Regency Centers Corp.
7,513
454,987
Simon Property Group, Inc.
14,905
2,332,484
Total
 
5,785,671
Specialized REITs 1.0%
American Tower Corp.
21,320
4,212,619
Crown Castle, Inc.
19,834
2,099,032
Digital Realty Trust, Inc.
13,851
1,995,098
Equinix, Inc.
4,294
3,543,967
Extra Space Storage, Inc.
9,663
1,420,461
Iron Mountain, Inc.
13,354
1,071,125
Public Storage
7,238
2,099,454
SBA Communications Corp.
4,934
1,069,198
VICI Properties, Inc.
47,313
1,409,454
Weyerhaeuser Co.
33,375
1,198,496
Total
 
20,118,904
Total Real Estate
45,890,272
Utilities 2.2%
Electric Utilities 1.5%
Alliant Energy Corp.
11,670
588,168
American Electric Power Co., Inc.
24,050
2,070,705
Constellation Energy Corp.
14,607
2,700,104
Duke Energy Corp.
35,261
3,410,091
Edison International
17,542
1,240,746
Entergy Corp.
9,671
1,022,031
Evergy, Inc.
10,506
560,810
Common Stocks (continued)
Issuer
Shares
Value ($)
Eversource Energy
15,976
954,886
Exelon Corp.
45,525
1,710,374
FirstEnergy Corp.
23,620
912,204
NextEra Energy, Inc.
93,833
5,996,867
NRG Energy, Inc.
10,325
698,899
PG&E Corp.
97,574
1,635,340
Pinnacle West Capital Corp.
5,186
387,550
PPL Corp.
33,712
928,092
Southern Co. (The)
49,878
3,578,248
Xcel Energy, Inc.
25,237
1,356,489
Total
 
29,751,604
Gas Utilities 0.0%
Atmos Energy Corp.
6,899
820,084
Independent Power and Renewable Electricity Producers 0.0%
AES Corp. (The)
30,625
549,106
Multi-Utilities 0.6%
Ameren Corp.
12,026
889,443
CenterPoint Energy, Inc.
28,868
822,449
CMS Energy Corp.
13,466
812,539
Consolidated Edison, Inc.
15,788
1,433,708
Dominion Energy, Inc.
38,270
1,882,501
DTE Energy Co.
9,442
1,058,826
NiSource, Inc.
18,907
522,968
Public Service Enterprise Group, Inc.
22,790
1,521,916
Sempra
28,782
2,067,411
WEC Energy Group, Inc.
14,426
1,184,663
Total
 
12,196,424
Water Utilities 0.1%
American Water Works Co., Inc.
8,905
1,088,280
Total Utilities
44,405,498
Total Common Stocks
(Cost $997,462,283)
2,015,937,428
 
10
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
Portfolio of Investments  (continued)
Columbia Variable Portfolio – Large Cap Index Fund, March 31, 2024 (Unaudited)
Money Market Funds 0.9%
 
Shares
Value ($)
Columbia Short-Term Cash Fund, 5.543%(b),(d)
17,876,129
17,872,554
Total Money Market Funds
(Cost $17,871,706)
17,872,554
Total Investments in Securities
(Cost: $1,015,333,989)
2,033,809,982
Other Assets & Liabilities, Net
 
(250,345
)
Net Assets
2,033,559,637
At March 31, 2024, securities and/or cash totaling $2,812,272 were pledged as collateral.
Investments in derivatives 
Long futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
S&P 500 Index E-mini
74
06/2024
USD
19,641,450
360,949
—
Notes to Portfolio of Investments 
(a)
Non-income producing investment.
(b)
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
Ameriprise Financial, Inc.
 
1,771,147
—
(3,013
)
241,236
2,009,370
29,776
6,264
4,583
Columbia Short-Term Cash Fund, 5.543%
 
16,099,315
24,289,166
(22,515,789
)
(138
)
17,872,554
762
196,566
17,876,129
Total
17,870,462
 
 
241,098
19,881,924
30,538
202,830
 
 
(c)
This security or a portion of this security has been pledged as collateral in connection with derivative contracts.
(d)
The rate shown is the seven-day current annualized yield at March 31, 2024.
Currency Legend 
USD
US Dollar
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
Columbia Variable Portfolio – Large Cap Index Fund  | First Quarter Report 2024
11
You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.
1QT7014_12_C01_(05/24)