NPORT-EX 3 nportpoi_253.htm EDGAR HTML
 
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 Investments
Columbia 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
2
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
3
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.
4
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
5
You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.
1QT7018_12_C01_(05/24)