NPORT-P
    false
    
      
      
        
          0001413032
          XXXXXXXX
        
      
      
      
      
        S000019847
        C000088771
        C000088772
        C000055684
      
      
      
    
  
  
    
      Columbia Funds Variable Series Trust II
      811-22127
      0001413032
      54930017CSZ4UCL7G406
      290 Congress Street
      Boston
      
      02110
      800-345-6611
      Columbia Variable Portfolio - Select Mid Cap Value Fund
      S000019847
      SXB4YL7O95HT3GJ0SJ62
      2022-12-31
      2022-03-31
      N
    
    
      331149080.130000000000
      105751.370000000000
      331043328.760000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      N
      
        
          
          
          
        
        
        
        
      
      
      
      
      
    
    
      
        AMEREN CORPORATION
        XRZQ5S7HYJFPHJ78L959
        Ameren Corp
        023608102
        
          
          
          
        
        109609.000000000000
        NS
        USD
        10276939.840000000000
        3.1044092864
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        AMETEK INC
        549300WZDEF9KKE40E98
        AMETEK Inc
        031100100
        
          
          
          
        
        70104.000000000000
        NS
        USD
        9336450.720000000000
        2.8203107898
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        AES CORP
        2NUNNB7D43COUIRE5295
        AES Corp/The
        00130H105
        
          
          
          
        
        331206.000000000000
        NS
        USD
        8521930.380000000000
        2.5742643454
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        AGILENT TECH INC
        QUIX8Y7A2WP0XRMW7G29
        Agilent Technologies Inc
        00846U101
        
          
          
          
        
        40545.000000000000
        NS
        USD
        5365319.850000000000
        1.6207303951
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ALLEGHENY TECH INC
        ZW1LRE7C3H17O2ZN9B45
        Allegheny Technologies Inc
        01741R102
        
          
          
          
        
        213202.000000000000
        NS
        USD
        5722341.680000000000
        1.7285778576
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BLOOM ENERGY CORPORATION
        549300XB5J9BFW5JXV97
        Bloom Energy Corp
        093712107
        
          
          
          
        
        68590.000000000000
        NS
        USD
        1656448.500000000000
        0.5003721133
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BURLINGTON STORES INC
        5299003Z37DVGKKC1W09
        Burlington Stores Inc
        122017106
        
          
          
          
        
        22374.000000000000
        NS
        USD
        4075871.580000000000
        1.2312199721
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CACI INTL INC
        SYRPI2D1O9WRTS2WX210
        CACI International Inc
        127190304
        
          
          
          
        
        23872.000000000000
        NS
        USD
        7191678.720000000000
        2.1724282277
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CENTENE CORP
        549300Z7JJ4TQSQGT333
        Centene Corp
        15135B101
        
          
          
          
        
        82737.000000000000
        NS
        USD
        6965628.030000000000
        2.1041439065
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Chemours Co/The
        549300M1BOLNXL8DOV14
        Chemours Co/The
        163851108
        
          
          
          
        
        150000.000000000000
        NS
        USD
        4722000.000000000000
        1.4263993833
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        COLUMBIA SHORT TERM CASH FUND
        N/A
        COLUMBIA SHORT TERM CASH FUND
        19766H239
        
          
        
        1927803.493000000000
        NS
        USD
        1927032.370000000000
        0.5821088065
        Long
        STIV
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CORNING INC
        549300X2937PB0CJ7I56
        Corning Inc
        219350105
        
          
          
          
        
        164498.000000000000
        NS
        USD
        6071621.180000000000
        1.8340865538
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        D R HORTON INC
        529900ZIUEYVSB8QDD25
        DR Horton Inc
        23331A109
        
          
          
          
        
        64297.000000000000
        NS
        USD
        4790769.470000000000
        1.4471729389
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DEVON ENERGY CORPORATION
        54930042348RKR3ZPN35
        Devon Energy Corp
        25179M103
        
          
          
          
        
        194667.000000000000
        NS
        USD
        11510659.710000000000
        3.4770855384
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DISCOVER FINANCIAL SERVICES
        Z1YLO2USPORE63VVUL20
        Discover Financial Services
        254709108
        
          
          
          
        
        69956.000000000000
        NS
        USD
        7708451.640000000000
        2.3285325425
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DOLLAR TREE INC
        549300PMSTQITB1WHR43
        Dollar Tree Inc
        256746108
        
          
          
          
        
        48262.000000000000
        NS
        USD
        7729159.300000000000
        2.3347878143
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        EASTMAN CHEMICAL COMPANY
        FDPVHDGJ1IQZFK9KH630
        Eastman Chemical Co
        277432100
        
          
          
          
        
        32375.000000000000
        NS
        USD
        3627942.500000000000
        1.0959116783
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        FMC CORP
        CKDHZ2X64EEBQCSP7013
        FMC Corp
        302491303
        
          
          
          
        
        52374.000000000000
        NS
        USD
        6890847.180000000000
        2.0815544617
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        FIRST IND REALTY TRUST INC
        N/A
        First Industrial Realty Trust Inc
        32054K103
        
          
          
          
        
        159437.000000000000
        NS
        USD
        9870744.670000000000
        2.9817077743
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        FREEPORT-MCMORAN INC
        549300IRDTHJQ1PVET45
        Freeport-McMoRan Inc
        35671D857
        
          
          
          
        
        112317.000000000000
        NS
        USD
        5586647.580000000000
        1.6875880269
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        GAMING AND LEISURE PROPERTIES INC
        5493006GWRDBCZYWTM57
        Gaming and Leisure Properties Inc
        36467J108
        
          
          
          
        
        143550.000000000000
        NS
        USD
        6736801.500000000000
        2.0350210727
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Hanover Insurance Group Inc/The
        JJYR6MFKFF6CF8DBZ078
        Hanover Insurance Group Inc/The
        410867105
        
          
          
          
        
        42709.000000000000
        NS
        USD
        6385849.680000000000
        1.9290072100
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        HYATT HOTELS CORP
        T27JQIMTYSH41TCD5186
        Hyatt Hotels Corp
        448579102
        
          
          
          
        
        76235.000000000000
        NS
        USD
        7276630.750000000000
        2.1980901344
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ITT INC
        549300KDSERHTJOXUS80
        ITT Inc
        45073V108
        
          
          
          
        
        94882.000000000000
        NS
        USD
        7136075.220000000000
        2.1556317859
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        INGERSOLL RAND INC
        5299004C02FMZCUOIR50
        Gardner Denver Holdings Inc
        000000000
        
          
          
          
        
        155605.000000000000
        NS
        USD
        7834711.750000000000
        2.3666725982
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        LINCOLN NATIONAL CORPORATION
        EFQMQROEDSNBRIP7LE47
        Lincoln National Corp
        534187109
        
          
          
          
        
        117613.000000000000
        NS
        USD
        7687185.680000000000
        2.3221086221
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        LIVE NATION ENTERTAINMENT INC
        5493007B9BM9ZXJINO78
        Live Nation Entertainment Inc
        538034109
        
          
          
          
        
        45713.000000000000
        NS
        USD
        5377677.320000000000
        1.6244632810
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MARATHON PETROLEUM CORP
        3BNYRYQHD39K4LCKQF12
        Marathon Petroleum Corp
        56585A102
        
          
          
          
        
        127568.000000000000
        NS
        USD
        10907064.000000000000
        3.2947542066
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MARVELL TECHNOLOGY INC
        N/A
        Marvell Technology Inc
        573874104
        
          
          
          
        
        57008.000000000000
        NS
        USD
        4088043.680000000000
        1.2348968624
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MOTOROLA SOLUTIONS INC
        6S552MUG6KGJVEBSEC55
        Motorola Solutions Inc
        620076307
        
          
          
          
        
        31233.000000000000
        NS
        USD
        7564632.600000000000
        2.2850883684
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        NEXSTAR MEDIA GROUP INC
        52990083ZRR5UT591988
        Nexstar Media Group Inc
        65336K103
        
          
          
          
        
        41805.000000000000
        NS
        USD
        7879406.400000000000
        2.3801737463
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        O'Reilly Automotive Inc
        549300K2RLMQL149Q332
        O'Reilly Automotive Inc
        67103H107
        
          
          
          
        
        11545.000000000000
        NS
        USD
        7907863.200000000000
        2.3887698416
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ON SEMICONDUCTOR CORP
        ZV20P4CNJVT8V1ZGJ064
        ON Semiconductor Corp
        682189105
        
          
          
          
        
        70022.000000000000
        NS
        USD
        4384077.420000000000
        1.3243213317
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        POPULAR INC
        5493008CARDZMVQ3LO89
        Popular Inc
        733174700
        
          
          
          
        
        90189.000000000000
        NS
        USD
        7372048.860000000000
        2.2269135849
        Long
        EC
        CORP
        PR
        
        N
        
        1
        
          N
          N
          N
        
      
      
        QUEST DIAGNOSTICS INC
        8MCWUBXQ0WE04KMXBX50
        Quest Diagnostics Inc
        74834L100
        
          
          
          
        
        41427.000000000000
        NS
        USD
        5669699.220000000000
        1.7126758727
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        REGIONS FINANCIAL CORPORATION
        CW05CS5KW59QTC0DG824
        Regions Financial Corp
        7591EP100
        
          
          
          
        
        301724.000000000000
        NS
        USD
        6716376.240000000000
        2.0288511069
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        REINSURANCE GROUP OF AMERICA IN
        LORM1GNEU1DKEW527V90
        Reinsurance Group of America Inc
        759351604
        
          
          
          
        
        58473.000000000000
        NS
        USD
        6400454.580000000000
        1.9334189890
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SVB FINANCIAL GROUP
        549300D2KJ20JMXE7542
        SVB Financial Group
        78486Q101
        
          
          
          
        
        11597.000000000000
        NS
        USD
        6487941.650000000000
        1.9598466685
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SIMON PROP GRP INC
        529900GQL5X8H7AO3T64
        Simon Property Group Inc
        828806109
        
          
          
          
        
        40000.000000000000
        NS
        USD
        5262400.000000000000
        1.5896408545
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SOUTHWEST AIRLINES CO
        UDTZ87G0STFETI6HGH41
        Southwest Airlines Co
        844741108
        
          
          
          
        
        131518.000000000000
        NS
        USD
        6023524.400000000000
        1.8195577064
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SYNEOS HEALTH INC
        549300F1ZGKDS8P6GU13
        Syneos Health Inc
        87166B102
        
          
          
          
        
        60000.000000000000
        NS
        USD
        4857000.000000000000
        1.4671795436
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        TAKE-TWO INTERACTIVE SOFTWARE INC.
        BOMSTHHJK882EWYX3334
        Take-Two Interactive Software Inc
        874054109
        
          
          
          
        
        48000.000000000000
        NS
        USD
        7379520.000000000000
        2.2291704314
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        TERADYNE INC
        C3X4YJ278QNZHRJULN75
        Teradyne Inc
        880770102
        
          
          
          
        
        39381.000000000000
        NS
        USD
        4656015.630000000000
        1.4064671375
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        TYSON FOODS INC
        WD6L6041MNRW1JE49D58
        Tyson Foods Inc
        902494103
        
          
          
          
        
        66662.000000000000
        NS
        USD
        5974915.060000000000
        1.8048740273
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        US FOODS HOLDING CORP
        549300UGOZSO64CFPR97
        US Foods Holding Corp
        912008109
        
          
          
          
        
        161579.000000000000
        NS
        USD
        6080217.770000000000
        1.8366833710
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        VOYA FINANCIAL INC
        549300T065Z4KJ686G75
        Voya Financial Inc
        929089100
        
          
          
          
        
        64425.000000000000
        NS
        USD
        4274598.750000000000
        1.2912505339
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        WELLTOWER INC
        T6IZ0MBEG5ACZDTR7D06
        Welltower Inc
        95040Q104
        
          
          
          
        
        115411.000000000000
        NS
        USD
        11095613.540000000000
        3.3517103581
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ZIMMER BIOMET HOLDINGS INC
        2P2YLDVPES3BXQ1FRB91
        Zimmer Biomet Holdings Inc
        98956P102
        
          
          
          
        
        54878.000000000000
        NS
        USD
        7018896.200000000000
        2.1202349029
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CAPRI HOLDINGS LTD
        549300LPG8W0H1OX3A26
        Capri Holdings Ltd
        G1890L107
        
          
          
          
        
        76234.000000000000
        NS
        USD
        3917665.260000000000
        1.1834297567
        Long
        EC
        CORP
        VG
        
        N
        
        1
        
          N
          N
          N
        
      
      
        GLOBALFOUNDRIES INC
        549300BA76VK784VMX48
        GLOBALFOUNDRIES Inc
        G39387108
        
          
          
          
        
        47065.000000000000
        NS
        USD
        2937797.300000000000
        0.8874358867
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        TRANE TECHNOLOGIES PLC
        549300BURLR9SLYY2705
        Trane Technologies PLC
        G8994E103
        
          
          
          
        
        52724.000000000000
        NS
        USD
        8050954.800000000000
        2.4319942740
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2022-04-25
      Columbia Funds Variable Series Trust II
      Martha Skinner
      Martha Skinner
      Assistant Treasurer
    
  
  XXXX




Portfolio of Investments
Columbia Variable Portfolio – Select Mid Cap Value Fund, March 31, 2022 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
Common Stocks 99.6%
Issuer Shares Value ($)
Communication Services 6.2%
Entertainment 3.8%
Live Nation Entertainment, Inc.(a) 45,713 5,377,677
Take-Two Interactive Software, Inc.(a) 48,000 7,379,520
Total   12,757,197
Media 2.4%
Nexstar Media Group, Inc., Class A 41,805 7,879,407
Total Communication Services 20,636,604
Consumer Discretionary 10.8%
Hotels, Restaurants & Leisure 2.2%
Hyatt Hotels Corp., Class A(a) 76,235 7,276,631
Household Durables 1.5%
D.R. Horton, Inc. 64,297 4,790,769
Multiline Retail 2.3%
Dollar Tree, Inc.(a) 48,262 7,729,159
Specialty Retail 3.6%
Burlington Stores, Inc.(a) 22,374 4,075,872
O’Reilly Automotive, Inc.(a) 11,545 7,907,863
Total   11,983,735
Textiles, Apparel & Luxury Goods 1.2%
Capri Holdings Ltd.(a) 76,234 3,917,665
Total Consumer Discretionary 35,697,959
Consumer Staples 3.7%
Food & Staples Retailing 1.9%
U.S. Foods Holding Corp.(a) 161,579 6,080,218
Food Products 1.8%
Tyson Foods, Inc., Class A 66,662 5,974,915
Total Consumer Staples 12,055,133
Energy 6.8%
Oil, Gas & Consumable Fuels 6.8%
Devon Energy Corp. 194,667 11,510,660
Marathon Petroleum Corp. 127,568 10,907,064
Total   22,417,724
Total Energy 22,417,724
Common Stocks (continued)
Issuer Shares Value ($)
Financials 16.1%
Banks 6.2%
Popular, Inc. 90,189 7,372,049
Regions Financial Corp. 301,724 6,716,376
SVB Financial Group(a) 11,597 6,487,942
Total   20,576,367
Consumer Finance 2.4%
Discover Financial Services 69,956 7,708,451
Diversified Financial Services 1.3%
Voya Financial, Inc. 64,425 4,274,599
Insurance 6.2%
Hanover Insurance Group, Inc. (The) 42,709 6,385,850
Lincoln National Corp. 117,613 7,687,186
Reinsurance Group of America, Inc. 58,473 6,400,454
Total   20,473,490
Total Financials 53,032,907
Health Care 9.0%
Health Care Equipment & Supplies 2.1%
Zimmer Biomet Holdings, Inc. 54,878 7,018,896
Health Care Providers & Services 3.8%
Centene Corp.(a) 82,737 6,965,628
Quest Diagnostics, Inc. 41,427 5,669,699
Total   12,635,327
Life Sciences Tools & Services 3.1%
Agilent Technologies, Inc. 40,545 5,365,320
Syneos Health, Inc.(a) 60,000 4,857,000
Total   10,222,320
Total Health Care 29,876,543
Industrials 14.3%
Airlines 1.8%
Southwest Airlines Co.(a) 131,518 6,023,524
Building Products 2.5%
Trane Technologies PLC 52,724 8,050,955
Columbia Variable Portfolio – Select Mid Cap Value Fund  | First Quarter Report 2022
1

Portfolio of Investments   (continued)
Columbia Variable Portfolio – Select Mid Cap Value Fund, March 31, 2022 (Unaudited)
Common Stocks (continued)
Issuer Shares Value ($)
Electrical Equipment 3.3%
AMETEK, Inc. 70,104 9,336,451
Bloom Energy Corp., Class A(a) 68,590 1,656,448
Total   10,992,899
Machinery 4.5%
Ingersoll Rand, Inc. 155,605 7,834,712
ITT, Inc. 94,882 7,136,075
Total   14,970,787
Professional Services 2.2%
CACI International, Inc., Class A(a) 23,872 7,191,679
Total Industrials 47,229,844
Information Technology 9.0%
Communications Equipment 2.3%
Motorola Solutions, Inc. 31,233 7,564,633
Electronic Equipment, Instruments & Components 1.8%
Corning, Inc. 164,498 6,071,621
Semiconductors & Semiconductor Equipment 4.9%
GlobalFoundries, Inc.(a) 47,065 2,937,797
Marvell Technology, Inc. 57,008 4,088,044
ON Semiconductor Corp.(a) 70,022 4,384,077
Teradyne, Inc. 39,381 4,656,016
Total   16,065,934
Total Information Technology 29,702,188
Materials 8.0%
Chemicals 4.6%
Chemours Co. LLC (The) 150,000 4,722,000
Eastman Chemical Co. 32,375 3,627,943
FMC Corp. 52,374 6,890,847
Total   15,240,790
Common Stocks (continued)
Issuer Shares Value ($)
Metals & Mining 3.4%
Allegheny Technologies, Inc.(a) 213,202 5,722,342
Freeport-McMoRan, Inc. 112,317 5,586,647
Total   11,308,989
Total Materials 26,549,779
Real Estate 10.0%
Equity Real Estate Investment Trusts (REITS) 10.0%
First Industrial Realty Trust, Inc. 159,437 9,870,745
Gaming and Leisure Properties, Inc. 143,550 6,736,801
Simon Property Group, Inc. 40,000 5,262,400
Welltower, Inc. 115,411 11,095,614
Total   32,965,560
Total Real Estate 32,965,560
Utilities 5.7%
Independent Power and Renewable Electricity Producers 2.6%
AES Corp. (The) 331,206 8,521,930
Multi-Utilities 3.1%
Ameren Corp. 109,609 10,276,940
Total Utilities 18,798,870
Total Common Stocks
(Cost $235,805,979)
328,963,111
Money Market Funds 0.6%
  Shares Value ($)
Columbia Short-Term Cash Fund, 0.308%(b),(c) 1,927,803 1,927,032
Total Money Market Funds
(Cost $1,927,086)
1,927,032
Total Investments in Securities
(Cost: $237,733,065)
330,890,143
Other Assets & Liabilities, Net   (731,443)
Net Assets 330,158,700
 
2 Columbia Variable Portfolio – Select Mid Cap Value Fund  | First Quarter Report 2022

Portfolio of Investments   (continued)
Columbia Variable Portfolio – Select Mid Cap Value Fund, March 31, 2022 (Unaudited)
Notes to Portfolio of Investments
(a) Non-income producing investment.
(b) The rate shown is the seven-day current annualized yield at March 31, 2022.
(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 March 31, 2022 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, 0.308%
  3,559,678 11,124,785 (12,757,483) 52 1,927,032 (707) 1,628 1,927,803
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
Columbia Variable Portfolio – Select Mid Cap Value Fund  | First Quarter Report 2022
3

You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.
1QT7021_12_A01_(05/22)