Investment objective & strategy
As of April 28, 2025 · prospectusObjective. Variable Portfolio Partners Small Cap Value Fund (the Fund) seeks to provide shareholders with long-term capital appreciation.
Strategy. Under normal market conditions, at least 80% of the Funds net assets (including the amount of any borrowings for investment purposes) are invested in small cap companies. For these purposes, small cap companies are those that have a market capitalization, at the time of investment, that falls within the range of the Russell 2000 Value Index (the Index) or up to $2.5 billion, whichever is greater. The Fund may buy and hold stock in a company that is not included in the Index. The market capitalization range of the companies included within the Index was $ 5.2 million to $ 14.2 billion as of March 31, 2025 . The market capitalization range and composition of companies in the Index are … Under normal market conditions, at least 80% of the Funds net assets (including the amount of any borrowings for investment purposes) are invested in small cap companies. For these purposes, small cap companies are those that have a market capitalization, at the time of investment, that falls within the range of the Russell 2000 Value Index (the Index) or up to $2.5 billion, whichever is greater. The Fund may buy and hold stock in a company that is not included in the Index. The market capitalization range of the companies included within the Index was $ 5.2 million to $ 14.2 billion as of March 31, 2025 . The market capitalization range and composition of companies in the Index are subject to change. The Fund may invest in any type of security, including common stocks and depositary receipts. The Fund may also invest in exchange-traded funds (ETFs). The Fund may invest up to 25% of its net assets in foreign investments. The Fund may at times emphasize one or more sectors in selecting its investments, including the financials and industrials sectors. The Fund also may invest in real estate investment trusts. Multiple subadvisers provide the day-to-day management of the Funds portfolio. Each of the subadvisers employs an active investment strategy that focuses on small cap companies in an attempt to take advantage of what are believed to be undervalued securities.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| COLUMBIA SHORT TERM CASH FUND | — | $8.57M | 2.15% |
| NATIONAL-CL A | — | $6.34M | 1.59% |
| SEACOAST BANKING CORP FLORIDA | — | $6.17M | 1.54% |
| INGEVITY CORP | — | $6.06M | 1.52% |
| MERCURY SYSTEMS INC | — | $5.95M | 1.49% |
| TEXAS CAPITAL BANCSHARES INC | — | $5.83M | 1.46% |
| HANCOCK WHITNEY CORP | — | $5.51M | 1.38% |
| VALMONT INDUSTRIES INC | — | $5.21M | 1.30% |
| ICU MEDICAL INC | — | $4.98M | 1.25% |
| AMERIS BANCORP | — | $4.98M | 1.25% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| William Blair Small Cap Value Fund · WBVNX, ICSCX, WBVRX | 57% | 0.79% |
| SBH SMALL CAP VALUE FUND · SBHVX, SBRVX | 50% | 0.99% |
| iMGP Small Company Fund · PFSVX | 31% | 1.17% |
Advisers
| Firm | Role |
|---|---|
| Columbia Management Investment Advisers, LLC | Adviser |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | Sub-adviser |
| SEGALL BRYANT AND HAMILL LLC | Sub-adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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