Variable Portfolio - Partners Core Equity Fund

Columbia Funds Variable Series Trust II

Actively managed U.S. equity fund
$2.24B NAV
124 positions · as of 2026-06-30 · filed 2026-08-28

Fund classification

Classified from what the fund holds · as of 2026 Q2

Variable Portfolio - Partners Core Equity Fund is an actively managed U.S. equity fund. 23% of Variable Portfolio - Partners Core Equity Fund’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 93% of the fund’s equity).

Asset class
Equity
Region
United States
Management
Actively managed
Fund type
Open-end fund

Fund profile

As filed in the prospectus · 2026 Q2

Variable Portfolio Partners Core Equity Fund (the Fund) seeks to provide shareholders with long-term capital growth.

Strategy · summarised

The fund invests at least 80% of its net assets in equity securities across companies of any size, with up to 25% allocated to foreign investments. Day-to-day portfolio management is delegated to multiple subadvisers. The fund may emphasize particular sectors, including information technology, in its selection process.

Expenses
0.68% 0.93%across 3 share classes
Share classGrossNet
C0000556960.83%0.81%
C0000887890.70%0.68%
C0000887900.95%0.93%

Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.

Portfolio turnover 52.00% · as of 2026 Q2

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q2

99.98%
of net assets
Stocks99.72%
Cash & short-term0.26%

Sector allocation

The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2

100%
of net assets
Information Technology34.6%
Financials13.3%
Consumer Discretionary10.2%
Communication Services10.1%
9 smaller31.9%

Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).

Portfolio growth profile

How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2

Revenue growth
23%of stock holdings in top-quartile growers
covering 93% of the fund’s equity
Earnings growth
29%of stock holdings in top-quartile growers
covering 90% of the fund’s equity

Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.

Latest quarter

What changed since the fund's previous filing

2026Q2 vs 2026Q1: 18 new10 exited

Largest new: LRCX, Aon PLC, HD, AMGN, SPCX, GLW, CRM, CRWD

Largest exited: VLO, Pentair PLC, BALL, PTC, DLTR, TE Connectivity PLC, GE, OTIS

Return profile

Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026

1-year
+25.00%
3-year
+69.33%
5-year
+69.70%
Volatility
13.57%
Worst 3-yr fall
-9.02%
Cumulative return· Jul 2023 – Apr 2026

May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are 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.

Holdings

By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page

Issuer%NAVValue
NVIDIA CorpNVDA8.06%$180.58M
Apple IncAAPL6.47%$145.01M
Broadcom IncAVGO3.76%$84.25M
Amazon.com IncAMZN3.70%$82.91M
Microsoft CorpMSFT3.57%$80.03M
Alphabet IncGOOG3.50%$78.43M
Alphabet IncGOOGL3.38%$75.61M
Advanced Micro Devices IncAMD2.35%$52.71M
American Express CoAXP1.62%$36.25M
Micron Technology IncMU1.60%$35.88M
Showing 10 of 124Sign in to see more

Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.

Top 10 positions are 38.03% of net assets, top 25 54.78%, across 123 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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