Third Quarter Report
September 30, 2023 (Unaudited)
September 30, 2023 (Unaudited)
Variable Portfolio – Partners International Core Equity Fund
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
Variable Portfolio – Partners International Core Equity Fund, September 30, 2023 (Unaudited)
Variable Portfolio – Partners International Core Equity Fund, September 30, 2023 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
Common Stocks 96.1% | ||
Issuer | Shares | Value ($) |
Austria 1.9% | ||
Erste Group Bank AG | 924,205 | 31,919,167 |
Brazil 1.9% | ||
MercadoLibre, Inc.(a) | 25,186 | 31,932,826 |
China 0.7% | ||
Contemporary Amperex Technology Co., Ltd., Class A | 411,481 | 11,493,773 |
Denmark 4.6% | ||
Novo Nordisk A/S | 566,478 | 51,578,538 |
Vestas Wind Systems A/S(a) | 1,242,547 | 26,582,911 |
Total | 78,161,449 | |
France 10.6% | ||
Carrefour SA | 1,525,669 | 26,203,533 |
EssilorLuxottica SA | 200,456 | 34,868,436 |
Legrand SA | 266,743 | 24,510,021 |
Sanofi | 430,495 | 46,224,513 |
Schneider Electric SE | 293,728 | 48,930,310 |
Total | 180,736,813 | |
Germany 8.0% | ||
Infineon Technologies AG | 1,010,984 | 33,484,547 |
SAP SE | 422,809 | 54,729,253 |
Siemens AG, Registered Shares | 343,468 | 49,084,583 |
Total | 137,298,383 | |
Hong Kong 2.3% | ||
AIA Group Ltd. | 4,919,400 | 39,783,911 |
India 1.7% | ||
HDFC Bank Ltd., ADR | 480,644 | 28,362,803 |
Italy 1.4% | ||
FinecoBank Banca Fineco SpA | 2,031,142 | 24,526,594 |
Japan 17.0% | ||
Bridgestone Corp. | 946,000 | 36,863,687 |
FUJIFILM Holdings Corp. | 389,900 | 22,555,945 |
KDDI Corp. | 1,256,300 | 38,455,945 |
Keyence Corp. | 81,100 | 29,992,881 |
Mitsubishi UFJ Financial Group, Inc. | 4,894,900 | 41,480,144 |
Recruit Holdings Co., Ltd. | 883,900 | 27,042,949 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Shimano, Inc. | 16,500 | 2,208,435 |
SMC Corp. | 51,600 | 23,130,337 |
Sony Group Corp. | 522,300 | 42,711,388 |
Terumo Corp. | 928,300 | 24,572,894 |
Total | 289,014,605 | |
Netherlands 6.4% | ||
ASML Holding NV | 93,019 | 54,764,971 |
Shell PLC | 1,718,351 | 55,318,676 |
Total | 110,083,647 | |
South Korea 2.0% | ||
Samsung Electronics Co., Ltd. | 679,970 | 34,375,294 |
Spain 2.1% | ||
Iberdrola SA | 3,182,172 | 35,590,837 |
Sweden 2.2% | ||
Nibe Industrier AB, Class B | 1,244,182 | 8,134,146 |
Svenska Handelsbanken AB, Class A | 3,228,570 | 28,727,473 |
Total | 36,861,619 | |
Switzerland 3.9% | ||
Chocoladefabriken Lindt & Spruengli AG | 3,410 | 37,893,778 |
Lonza Group AG, Registered Shares | 61,105 | 28,263,941 |
Total | 66,157,719 | |
Taiwan 0.6% | ||
Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 121,056 | 10,519,766 |
United Kingdom 22.1% | ||
ARM Holdings PLC, ADR(a) | 191,029 | 10,223,872 |
AstraZeneca PLC | 363,805 | 49,071,657 |
Bunzl PLC | 781,281 | 27,824,374 |
Burberry Group PLC | 1,114,519 | 25,828,894 |
Diageo PLC | 1,084,461 | 39,982,041 |
GSK PLC | 2,136,061 | 38,649,453 |
National Grid PLC | 2,206,544 | 26,388,836 |
NMC Health PLC(a),(b),(c) | 293,698 | 0 |
Reckitt Benckiser Group PLC | 555,517 | 39,175,470 |
RELX PLC | 1,388,063 | 46,833,153 |
Rio Tinto PLC | 480,479 | 30,170,474 |
2 | Variable Portfolio – Partners International Core Equity Fund | Third Quarter Report 2023 |
Portfolio of Investments (continued)
Variable Portfolio – Partners International Core Equity Fund, September 30, 2023 (Unaudited)
Variable Portfolio – Partners International Core Equity Fund, September 30, 2023 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Unilever PLC | 846,014 | 41,849,607 |
Total | 375,997,831 | |
United States 6.7% | ||
Booking Holdings, Inc.(a) | 10,517 | 32,433,902 |
lululemon athletica, Inc.(a) | 85,532 | 32,981,995 |
Roche Holding AG, Genusschein Shares | 180,769 | 49,350,139 |
Total | 114,766,036 | |
Total Common Stocks (Cost $1,656,456,394) | 1,637,583,073 |
Preferred Stocks 1.7% | |||
Issuer | Shares | Value ($) | |
Germany 1.7% | |||
Porsche AG | 299,646 | 28,114,917 | |
Total Preferred Stocks (Cost $24,736,865) | 28,114,917 |
Money Market Funds 1.8% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.515%(d),(e) | 30,896,385 | 30,887,116 |
Total Money Market Funds (Cost $30,886,978) | 30,887,116 | |
Total Investments in Securities (Cost $1,712,080,237) | 1,696,585,106 | |
Other Assets & Liabilities, Net | 7,261,567 | |
Net Assets | $1,703,846,673 |
Notes to Portfolio of Investments
(a) | Non-income producing investment. |
(b) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At September 30, 2023, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(c) | Valuation based on significant unobservable inputs. |
(d) | The rate shown is the seven-day current annualized yield at September 30, 2023. |
(e) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended September 30, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.515% | ||||||||
10,942,105 | 276,370,203 | (256,425,330) | 138 | 30,887,116 | 4,630 | 628,238 | 30,896,385 |
Abbreviation Legend
ADR | American Depositary Receipt |
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
Variable Portfolio – Partners International Core Equity Fund | Third Quarter Report 2023 | 3 |
You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.
3QT7054_12_B01_(11/23)