Variable Portfolio - Moderate Portfolio
Columbia Funds Variable Series Trust II · Series S000028702
data updated 2026-08-17
Fund profile
As filed in the prospectus · 2026 Q2
Variable Portfolio-Moderate Portfolio (Moderate Portfolio or the Fund) seeks to provide a high level of total return that is consistent with a moderate level of risk.
The fund is a fund of funds that invests in underlying funds across three primary asset classes—equity, fixed income and cash/cash equivalents—and alternative strategies seeking returns uncorrelated to broad equity and fixed income markets. The fund targets allocations of 40–55% equity, 40–60% fixed income and cash/cash equivalents, and 0–10% alternative strategies under normal circumstances. The fund may invest significantly in individual underlying funds and may use derivatives including futures, swaps, and forward contracts to achieve its desired exposures. Because the fund's actual allocations may diverge from its target ranges due to market appreciation or depreciation, returns will reflect those deviations until rebalancing occurs.
| Share class | Expense ratio |
|---|---|
| C000087822 | 0.96% |
| C000087823 | 0.96% |
| C000209987 | 0.71% |
Portfolio turnover 9.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q1
| Stocks | 94.29% |
| Cash & short-term | 4.82% |
| Derivatives | -0.07% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: Chicago Mercantile Exchange ×2, Chicago Board of Trade ×2, Eurex Deutschland, ICE Futures Europe - Financial Products Division, Euronext Paris Matif, The Montreal Exchange/Bourse De Montreal
Largest exited: Italian Derivatives Market, Chicago Board of Trade, Eurex Deutschland, Chicago Mercantile Exchange, ICE Futures Europe - Financial Products Division, ICE Futures U.S., Inc., Meff Financial Derivatives, The Montreal Exchange / Bourse De Montreal
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026
Mar 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-03-31
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | CTIVP - AMER CENT DIVERSE BD CLS 1 | 11.45% | $9.30 | $1.50B | 161.5M |
| — | VP - PARTNERS CORE BD FD CL1 | 9.53% | $9.76 | $1.25B | 128.0M |
| — | CTIVP - TCW CORE PLUS BOND FD CL1 | 8.31% | $9.31 | $1.09B | 117.1M |
| — | COLUMBIA VP OVERSEAS CORE-1 | 6.72% | $16.91 | $881.43M | 52.1M |
| — | COLUMBIA VARIABLE PORTFOLIO - CORPORATE BOND FUND | 5.67% | $7.82 | $744.04M | 95.1M |
| — | COLUMBIA VP INTERMED BOND FD CL 1 | 5.57% | $8.60 | $730.38M | 84.9M |
| — | COLUMBIA VP SEL LARGE CAP EQ FD 1 | 5.46% | $25.26 | $716.44M | 28.4M |
| — | COLUMBIA SHORT TERM CASH FUND | 4.82% | — | $632.56M | — |
| — | Columbia VP - US Government Mortgage Fund | 4.06% | $9.39 | $532.29M | 56.7M |
| — | Columbia Variable Portfolio - Large Cap Growth Fund | 3.78% | $51.45 | $496.11M | 9.6M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-03-31 — not a live quote, and not what the fund paid.
Top 10 positions are 65.38% of net assets, top 25 96.18%, across 40 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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