Columbia Variable Portfolio - Emerging Markets Fund
Columbia Funds Variable Series Trust II
Expense ratio
Net assets1
$469.87M
Holdings1
90
Category
International Equity
Return

Investment objective & strategy

As of April 28, 2025 · prospectus

Objective. Columbia Variable Portfolio Emerging Markets Fund (the Fund) seeks to provide shareholders with long-term capital growth.

Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities (including, but not limited to, common stocks, preferred stocks and securities convertible into common or preferred stocks) of companies located in emerging market countries. The Fund may also gain exposure to such companies through investment in depositary receipts. The Fund may seek investment exposure to Chinese companies operating in certain sectors using a structure known as a variable interest entity (a VIE), rather than an equity ownership in the Chinese company. Emerging market countries include those countries whose economies are considered to be developing or emerging from underdevelopment. The Fund may invest in a variety … Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities (including, but not limited to, common stocks, preferred stocks and securities convertible into common or preferred stocks) of companies located in emerging market countries. The Fund may also gain exposure to such companies through investment in depositary receipts. The Fund may seek investment exposure to Chinese companies operating in certain sectors using a structure known as a variable interest entity (a VIE), rather than an equity ownership in the Chinese company. Emerging market countries include those countries whose economies are considered to be developing or emerging from underdevelopment. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector. However, the Fund has invested substantially in the financial services and information technology sectors and may continue to invest substantially in these or other sectors in the future. From time to time, the Fund may focus its investments in certain countries or geographic areas, including the Asia/Pacific region. The Fund may invest in companies that have market capitalizations of any size. The Fund may invest in special situations, such as companies involved in initial public offerings, tender offers, mergers and other corporate restructurings, and in companies involved in management changes or companies developing new technologies. The Fund may invest in securities that the investment manager believes are undervalued, represent growth opportunities, or both.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
TSMC $68.06M 14.49%
SAMSUNG ELECTRONICS CO LTD $32.45M 6.91%
SK HYNIX INC $22.36M 4.76%
TENCENT HOLDINGS LTD $20.85M 4.44%
BABA-W $16.47M 3.51%
NU HOLDINGS LTD/CAYMAN ISLANDS $12.39M 2.64%
COLUMBIA SHORT TERM CASH FUND $11.30M 2.40%
UNIMICRON TECH $9.83M 2.09%
CAPITEC BANK HOLDINGS LTD COMMON STOCK CPI $9.47M 2.02%
ACCTON TECH $8.72M 1.86%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
14
Exited
17
Increased
14
Decreased
30
Unchanged
32

How 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.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Columbia Emerging Markets Fund · EEMAX, EEMCX, UMEMX, CEKRX, CEKYX, UMEBX 90% 0.99%
Hartford Schroders Emerging Markets Equity Fund · SEMVX, HHHCX, SEMNX, HHHRX, HHHSX, HHHTX, HHHYX, SEMTX, HHHFX 53% 0.97%
Federated Hermes Emerging Markets Equity Fund · FRIEX, PIEFX 51% 0.93%
View all similar funds →

Advisers

As of December 31, 2025 · N-CEN
FirmRole
Columbia Management Investment Advisers, LLC Adviser

Footnotes

  1. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.

Machine-readable: JSON · Markdown. Programmatic access via the agent surface.