09/05/2024 | Press release | Distributed by Public on 09/05/2024 09:38
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class 1 |
$
13
|
0.25% |
Fund net assets |
$
2,112,107,564
|
Total number of portfolio holdings | 505 |
Portfolio turnover for the reporting period | 1% |
Microsoft Corp. | 7.2% |
NVIDIA Corp. | 6.6% |
Apple, Inc. | 6.6% |
Amazon.com, Inc. | 3.8% |
Meta Platforms, Inc., Class A | 2.4% |
Alphabet, Inc., Class A | 2.3% |
Alphabet, Inc., Class C | 1.9% |
Berkshire Hathaway, Inc., Class B | 1.6% |
Eli Lilly & Co. | 1.6% |
Broadcom, Inc. | 1.5% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class 2 |
$
27
|
0.50% |
Fund net assets |
$
2,112,107,564
|
Total number of portfolio holdings | 505 |
Portfolio turnover for the reporting period | 1% |
Microsoft Corp. | 7.2% |
NVIDIA Corp. | 6.6% |
Apple, Inc. | 6.6% |
Amazon.com, Inc. | 3.8% |
Meta Platforms, Inc., Class A | 2.4% |
Alphabet, Inc., Class A | 2.3% |
Alphabet, Inc., Class C | 1.9% |
Berkshire Hathaway, Inc., Class B | 1.6% |
Eli Lilly & Co. | 1.6% |
Broadcom, Inc. | 1.5% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class 3 |
$
20
|
0.38% |
Fund net assets |
$
2,112,107,564
|
Total number of portfolio holdings | 505 |
Portfolio turnover for the reporting period | 1% |
Microsoft Corp. | 7.2% |
NVIDIA Corp. | 6.6% |
Apple, Inc. | 6.6% |
Amazon.com, Inc. | 3.8% |
Meta Platforms, Inc., Class A | 2.4% |
Alphabet, Inc., Class A | 2.3% |
Alphabet, Inc., Class C | 1.9% |
Berkshire Hathaway, Inc., Class B | 1.6% |
Eli Lilly & Co. | 1.6% |
Broadcom, Inc. | 1.5% |
Item 2. Code of Ethics.
Not applicable.
Item 3. Audit Committee Financial Expert.
Not applicable.
Item 4. Principal Accountant Fees and Services.
Not applicable.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
(a) The registrant's "Schedule I - Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 7 of this Form N-CSR.
(b) Not applicable.
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
Not FDIC or NCUA Insured
|
No Financial Institution Guarantee
|
May Lose Value
|
Portfolio of Investments
|
3
|
Statement of Assets and Liabilities
|
14
|
Statement of Operations
|
15
|
Statement of Changes in Net Assets
|
16
|
Financial Highlights
|
18
|
Notes to Financial Statements
|
20
|
Approval of Management Agreement
|
29
|
Common Stocks 99.3%
|
||
Issuer
|
Shares
|
Value ($)
|
Communication Services 9.3%
|
||
Diversified Telecommunication Services 0.7%
|
||
AT&T, Inc.
|
327,858
|
6,265,366
|
Verizon Communications, Inc.
|
192,469
|
7,937,422
|
Total
|
14,202,788
|
|
Entertainment 1.2%
|
||
Electronic Arts, Inc.
|
11,124
|
1,549,907
|
Live Nation Entertainment, Inc.(a)
|
6,513
|
610,529
|
Netflix, Inc.(a)
|
19,703
|
13,297,161
|
Take-Two Interactive Software, Inc.(a)
|
7,261
|
1,129,013
|
Walt Disney Co. (The)
|
83,360
|
8,276,814
|
Warner Bros Discovery, Inc.(a)
|
101,957
|
758,560
|
Total
|
25,621,984
|
|
Interactive Media & Services 6.7%
|
||
Alphabet, Inc., Class A
|
268,589
|
48,923,486
|
Alphabet, Inc., Class C
|
223,449
|
40,985,016
|
Match Group, Inc.(a)
|
12,148
|
369,056
|
Meta Platforms, Inc., Class A
|
100,204
|
50,524,861
|
Total
|
140,802,419
|
|
Media 0.5%
|
||
Charter Communications, Inc., Class A(a)
|
4,478
|
1,338,743
|
Comcast Corp., Class A
|
178,976
|
7,008,700
|
Fox Corp., Class A
|
10,569
|
363,257
|
Fox Corp., Class B
|
6,032
|
193,145
|
Interpublic Group of Companies, Inc. (The)
|
17,258
|
502,035
|
News Corp., Class A
|
17,339
|
478,036
|
News Corp., Class B
|
5,231
|
148,508
|
Omnicom Group, Inc.
|
8,955
|
803,263
|
Paramount Global, Class B
|
22,605
|
234,866
|
Total
|
11,070,553
|
|
Wireless Telecommunication Services 0.2%
|
||
T-Mobile US, Inc.
|
23,577
|
4,153,796
|
Total Communication Services
|
195,851,540
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Consumer Discretionary 9.9%
|
||
Automobile Components 0.1%
|
||
Aptiv PLC(a)
|
12,440
|
876,025
|
BorgWarner, Inc.
|
10,418
|
335,876
|
Total
|
1,211,901
|
|
Automobiles 1.4%
|
||
Ford Motor Co.
|
179,310
|
2,248,547
|
General Motors Co.
|
52,170
|
2,423,818
|
Tesla, Inc.(a)
|
126,869
|
25,104,838
|
Total
|
29,777,203
|
|
Broadline Retail 3.9%
|
||
Amazon.com, Inc.(a)
|
418,743
|
80,922,085
|
eBay, Inc.
|
23,137
|
1,242,920
|
Etsy, Inc.(a)
|
5,347
|
315,366
|
Total
|
82,480,371
|
|
Distributors 0.1%
|
||
Genuine Parts Co.
|
6,369
|
880,960
|
LKQ Corp.
|
12,198
|
507,315
|
Pool Corp.
|
1,753
|
538,749
|
Total
|
1,927,024
|
|
Hotels, Restaurants & Leisure 1.9%
|
||
Airbnb, Inc., Class A(a)
|
20,188
|
3,061,106
|
Booking Holdings, Inc.
|
1,551
|
6,144,286
|
Caesars Entertainment, Inc.(a)
|
9,896
|
393,267
|
Carnival Corp.(a)
|
46,186
|
864,602
|
Chipotle Mexican Grill, Inc.(a)
|
62,800
|
3,934,420
|
Darden Restaurants, Inc.
|
5,458
|
825,905
|
Domino's Pizza, Inc.
|
1,595
|
823,546
|
Expedia Group, Inc.(a)
|
5,805
|
731,372
|
Hilton Worldwide Holdings, Inc.
|
11,433
|
2,494,681
|
Las Vegas Sands Corp.
|
16,693
|
738,665
|
Marriott International, Inc., Class A
|
10,970
|
2,652,217
|
McDonald's Corp.
|
32,953
|
8,397,743
|
MGM Resorts International(a)
|
11,474
|
509,905
|
Norwegian Cruise Line Holdings Ltd.(a)
|
19,618
|
368,622
|
Royal Caribbean Cruises Ltd.(a)
|
10,826
|
1,725,989
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Starbucks Corp.
|
51,793
|
4,032,085
|
Wynn Resorts Ltd.
|
4,318
|
386,461
|
Yum! Brands, Inc.
|
12,878
|
1,705,820
|
Total
|
39,790,692
|
|
Household Durables 0.3%
|
||
D.R. Horton, Inc.
|
13,552
|
1,909,883
|
Garmin Ltd.
|
7,026
|
1,144,676
|
Lennar Corp., Class A
|
11,196
|
1,677,945
|
Mohawk Industries, Inc.(a)
|
2,424
|
275,342
|
NVR, Inc.(a)
|
143
|
1,085,164
|
PulteGroup, Inc.
|
9,618
|
1,058,942
|
Total
|
7,151,952
|
|
Leisure Products 0.0%
|
||
Hasbro, Inc.
|
5,984
|
350,064
|
Specialty Retail 1.8%
|
||
AutoZone, Inc.(a)
|
791
|
2,344,603
|
Bath & Body Works, Inc.
|
10,227
|
399,364
|
Best Buy Co., Inc.
|
8,805
|
742,174
|
CarMax, Inc.(a)
|
7,197
|
527,828
|
Home Depot, Inc. (The)
|
45,315
|
15,599,236
|
Lowe's Companies, Inc.
|
26,164
|
5,768,115
|
O'Reilly Automotive, Inc.(a)
|
2,693
|
2,843,970
|
Ross Stores, Inc.
|
15,332
|
2,228,046
|
TJX Companies, Inc. (The)
|
51,784
|
5,701,418
|
Tractor Supply Co.
|
4,930
|
1,331,100
|
Ulta Beauty, Inc.(a)
|
2,192
|
845,827
|
Total
|
38,331,681
|
|
Textiles, Apparel & Luxury Goods 0.4%
|
||
Deckers Outdoor Corp.(a)
|
1,174
|
1,136,373
|
lululemon athletica, Inc.(a)
|
5,239
|
1,564,889
|
NIKE, Inc., Class B
|
55,394
|
4,175,046
|
Ralph Lauren Corp.
|
1,785
|
312,482
|
Tapestry, Inc.
|
10,506
|
449,552
|
Total
|
7,638,342
|
|
Total Consumer Discretionary
|
208,659,230
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Consumer Staples 5.7%
|
||
Beverages 1.3%
|
||
Brown-Forman Corp., Class B
|
8,185
|
353,510
|
Coca-Cola Co. (The)
|
177,284
|
11,284,127
|
Constellation Brands, Inc., Class A
|
7,362
|
1,894,095
|
Keurig Dr. Pepper, Inc.
|
47,727
|
1,594,082
|
Molson Coors Beverage Co., Class B
|
8,314
|
422,601
|
Monster Beverage Corp.(a)
|
32,432
|
1,619,978
|
PepsiCo, Inc.
|
62,862
|
10,367,830
|
Total
|
27,536,223
|
|
Consumer Staples Distribution & Retail 1.9%
|
||
Costco Wholesale Corp.
|
20,279
|
17,236,947
|
Dollar General Corp.
|
10,044
|
1,328,118
|
Dollar Tree, Inc.(a)
|
9,476
|
1,011,753
|
Kroger Co. (The)
|
30,608
|
1,528,258
|
Sysco Corp.
|
22,770
|
1,625,550
|
Target Corp.
|
21,154
|
3,131,638
|
Walgreens Boots Alliance, Inc.
|
32,742
|
396,015
|
Walmart, Inc.
|
195,323
|
13,225,320
|
Total
|
39,483,599
|
|
Food Products 0.7%
|
||
Archer-Daniels-Midland Co.
|
22,608
|
1,366,654
|
Bunge Global SA
|
6,474
|
691,229
|
Campbell Soup Co.
|
8,996
|
406,529
|
ConAgra Foods, Inc.
|
21,859
|
621,233
|
General Mills, Inc.
|
25,814
|
1,632,994
|
Hershey Co. (The)
|
6,750
|
1,240,852
|
Hormel Foods Corp.
|
13,273
|
404,694
|
JM Smucker Co. (The)
|
4,855
|
529,389
|
Kellanova
|
12,037
|
694,294
|
Kraft Heinz Co. (The)
|
36,091
|
1,162,852
|
Lamb Weston Holdings, Inc.
|
6,602
|
555,096
|
McCormick & Co., Inc.
|
11,511
|
816,590
|
Mondelez International, Inc., Class A
|
61,334
|
4,013,697
|
Tyson Foods, Inc., Class A
|
13,078
|
747,277
|
Total
|
14,883,380
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Household Products 1.2%
|
||
Church & Dwight Co., Inc.
|
11,181
|
1,159,246
|
Clorox Co. (The)
|
5,679
|
775,013
|
Colgate-Palmolive Co.
|
37,515
|
3,640,456
|
Kimberly-Clark Corp.
|
15,396
|
2,127,727
|
Procter & Gamble Co. (The)
|
107,917
|
17,797,672
|
Total
|
25,500,114
|
|
Personal Care Products 0.1%
|
||
Estee Lauder Companies, Inc. (The), Class A
|
10,655
|
1,133,692
|
Kenvue, Inc.
|
87,555
|
1,591,750
|
Total
|
2,725,442
|
|
Tobacco 0.5%
|
||
Altria Group, Inc.
|
78,539
|
3,577,451
|
Philip Morris International, Inc.
|
71,082
|
7,202,739
|
Total
|
10,780,190
|
|
Total Consumer Staples
|
120,908,948
|
|
Energy 3.6%
|
||
Energy Equipment & Services 0.3%
|
||
Baker Hughes Co.
|
45,634
|
1,604,948
|
Halliburton Co.
|
40,480
|
1,367,415
|
Schlumberger NV
|
65,357
|
3,083,543
|
Total
|
6,055,906
|
|
Oil, Gas & Consumable Fuels 3.3%
|
||
APA Corp.
|
16,464
|
484,700
|
Chevron Corp.
|
78,372
|
12,258,948
|
ConocoPhillips Co.
|
53,477
|
6,116,699
|
Coterra Energy, Inc.
|
34,030
|
907,580
|
Devon Energy Corp.
|
28,898
|
1,369,765
|
Diamondback Energy, Inc.
|
8,155
|
1,632,549
|
EOG Resources, Inc.
|
26,279
|
3,307,738
|
EQT Corp.
|
20,192
|
746,700
|
Exxon Mobil Corp.
|
205,120
|
23,613,414
|
Hess Corp.
|
12,638
|
1,864,358
|
Kinder Morgan, Inc.
|
88,289
|
1,754,302
|
Marathon Oil Corp.
|
25,791
|
739,428
|
Marathon Petroleum Corp.
|
16,110
|
2,794,763
|
Occidental Petroleum Corp.
|
30,406
|
1,916,490
|
ONEOK, Inc.
|
26,687
|
2,176,325
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Phillips 66
|
19,385
|
2,736,581
|
Targa Resources Corp.
|
10,138
|
1,305,572
|
Valero Energy Corp.
|
14,952
|
2,343,876
|
Williams Companies, Inc. (The)
|
55,728
|
2,368,440
|
Total
|
70,438,228
|
|
Total Energy
|
76,494,134
|
|
Financials 12.3%
|
||
Banks 3.2%
|
||
Bank of America Corp.
|
311,101
|
12,372,487
|
Citigroup, Inc.
|
87,218
|
5,534,854
|
Citizens Financial Group, Inc.
|
20,806
|
749,640
|
Fifth Third Bancorp
|
31,278
|
1,141,334
|
Huntington Bancshares, Inc.
|
66,267
|
873,399
|
JPMorgan Chase & Co.
|
131,307
|
26,558,154
|
KeyCorp
|
43,112
|
612,622
|
M&T Bank Corp.
|
7,629
|
1,154,726
|
PNC Financial Services Group, Inc. (The)
|
18,194
|
2,828,803
|
Regions Financial Corp.
|
41,876
|
839,195
|
Truist Financial Corp.
|
61,186
|
2,377,076
|
U.S. Bancorp
|
71,352
|
2,832,674
|
Wells Fargo & Co.
|
159,412
|
9,467,479
|
Total
|
67,342,443
|
|
Capital Markets 2.8%
|
||
Ameriprise Financial, Inc.(b)
|
4,542
|
1,940,297
|
Bank of New York Mellon Corp. (The)
|
34,194
|
2,047,879
|
BlackRock, Inc.
|
6,387
|
5,028,613
|
Blackstone, Inc.
|
32,677
|
4,045,413
|
Cboe Global Markets, Inc.
|
4,808
|
817,648
|
Charles Schwab Corp. (The)
|
68,264
|
5,030,374
|
CME Group, Inc.
|
16,464
|
3,236,822
|
FactSet Research Systems, Inc.
|
1,743
|
711,615
|
Franklin Resources, Inc.
|
13,712
|
306,463
|
Goldman Sachs Group, Inc. (The)
|
14,745
|
6,669,458
|
Intercontinental Exchange, Inc.
|
26,227
|
3,590,214
|
Invesco Ltd.
|
20,569
|
307,712
|
KKR & Co., Inc., Class A
|
30,432
|
3,202,664
|
MarketAxess Holdings, Inc.
|
1,733
|
347,519
|
Moody's Corp.
|
7,180
|
3,022,277
|
Morgan Stanley
|
57,219
|
5,561,115
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
MSCI, Inc.
|
3,623
|
1,745,380
|
Nasdaq, Inc.
|
17,399
|
1,048,464
|
Northern Trust Corp.
|
9,355
|
785,633
|
Raymond James Financial, Inc.
|
8,530
|
1,054,393
|
S&P Global, Inc.
|
14,637
|
6,528,102
|
State Street Corp.
|
13,775
|
1,019,350
|
T. Rowe Price Group, Inc.
|
10,210
|
1,177,315
|
Total
|
59,224,720
|
|
Consumer Finance 0.5%
|
||
American Express Co.
|
25,983
|
6,016,364
|
Capital One Financial Corp.
|
17,472
|
2,418,998
|
Discover Financial Services
|
11,459
|
1,498,952
|
Synchrony Financial
|
18,361
|
866,455
|
Total
|
10,800,769
|
|
Financial Services 3.8%
|
||
Berkshire Hathaway, Inc., Class B(a)
|
82,779
|
33,674,497
|
Corpay, Inc.(a)
|
3,213
|
855,975
|
Fidelity National Information Services, Inc.
|
25,435
|
1,916,782
|
Fiserv, Inc.(a)
|
26,754
|
3,987,416
|
Global Payments, Inc.
|
11,671
|
1,128,586
|
Jack Henry & Associates, Inc.
|
3,333
|
553,345
|
MasterCard, Inc., Class A
|
37,540
|
16,561,146
|
PayPal Holdings, Inc.(a)
|
47,831
|
2,775,633
|
Visa, Inc., Class A
|
71,978
|
18,892,066
|
Total
|
80,345,446
|
|
Insurance 2.0%
|
||
Aflac, Inc.
|
23,644
|
2,111,646
|
Allstate Corp. (The)
|
12,068
|
1,926,777
|
American International Group, Inc.
|
30,346
|
2,252,887
|
Aon PLC, Class A
|
9,942
|
2,918,772
|
Arch Capital Group Ltd.(a)
|
17,100
|
1,725,219
|
Arthur J Gallagher & Co.
|
9,991
|
2,590,766
|
Assurant, Inc.
|
2,377
|
395,176
|
Brown & Brown, Inc.
|
10,826
|
967,953
|
Chubb Ltd.
|
18,567
|
4,736,070
|
Cincinnati Financial Corp.
|
7,159
|
845,478
|
Everest Group Ltd.
|
1,987
|
757,087
|
Globe Life, Inc.
|
3,839
|
315,873
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Hartford Financial Services Group, Inc. (The)
|
13,523
|
1,359,602
|
Loews Corp.
|
8,302
|
620,491
|
Marsh & McLennan Companies, Inc.
|
22,530
|
4,747,522
|
MetLife, Inc.
|
27,314
|
1,917,170
|
Principal Financial Group, Inc.
|
9,860
|
773,517
|
Progressive Corp. (The)
|
26,781
|
5,562,682
|
Prudential Financial, Inc.
|
16,415
|
1,923,674
|
Travelers Companies, Inc. (The)
|
10,471
|
2,129,173
|
Willis Towers Watson PLC
|
4,675
|
1,225,504
|
WR Berkley Corp.
|
9,235
|
725,686
|
Total
|
42,528,725
|
|
Total Financials
|
260,242,103
|
|
Health Care 11.6%
|
||
Biotechnology 1.9%
|
||
AbbVie, Inc.
|
80,744
|
13,849,211
|
Amgen, Inc.
|
24,529
|
7,664,086
|
Biogen, Inc.(a)
|
6,657
|
1,543,226
|
Gilead Sciences, Inc.
|
56,967
|
3,908,506
|
Incyte Corp.(a)
|
7,270
|
440,707
|
Moderna, Inc.(a)
|
15,246
|
1,810,463
|
Regeneron Pharmaceuticals, Inc.(a)
|
4,850
|
5,097,495
|
Vertex Pharmaceuticals, Inc.(a)
|
11,799
|
5,530,427
|
Total
|
39,844,121
|
|
Health Care Equipment & Supplies 2.3%
|
||
Abbott Laboratories
|
79,546
|
8,265,625
|
Align Technology, Inc.(a)
|
3,201
|
772,817
|
Baxter International, Inc.
|
23,301
|
779,419
|
Becton Dickinson & Co.
|
13,215
|
3,088,478
|
Boston Scientific Corp.(a)
|
67,224
|
5,176,920
|
Cooper Cos, Inc. (The)
|
9,088
|
793,382
|
DexCom, Inc.(a)
|
18,184
|
2,061,702
|
Edwards Lifesciences Corp.(a)
|
27,554
|
2,545,163
|
GE HealthCare Technologies, Inc.
|
19,411
|
1,512,505
|
Hologic, Inc.(a)
|
10,671
|
792,322
|
IDEXX Laboratories, Inc.(a)
|
3,776
|
1,839,667
|
Insulet Corp.(a)
|
3,203
|
646,365
|
Intuitive Surgical, Inc.(a)
|
16,219
|
7,215,022
|
Medtronic PLC
|
60,716
|
4,778,956
|
ResMed, Inc.
|
6,717
|
1,285,768
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Solventum Corp.(a)
|
6,318
|
334,096
|
STERIS PLC
|
4,518
|
991,882
|
Stryker Corp.
|
15,503
|
5,274,896
|
Teleflex, Inc.
|
2,154
|
453,051
|
Zimmer Biomet Holdings, Inc.
|
9,407
|
1,020,942
|
Total
|
49,628,978
|
|
Health Care Providers & Services 2.4%
|
||
Cardinal Health, Inc.
|
11,137
|
1,094,990
|
Cencora, Inc.
|
7,570
|
1,705,521
|
Centene Corp.(a)
|
24,402
|
1,617,853
|
Cigna Group (The)
|
12,989
|
4,293,774
|
CVS Health Corp.
|
57,402
|
3,390,162
|
DaVita, Inc.(a)
|
2,366
|
327,857
|
Elevance Health, Inc.
|
10,627
|
5,758,346
|
HCA Healthcare, Inc.
|
8,862
|
2,847,183
|
Henry Schein, Inc.(a)
|
5,855
|
375,305
|
Humana, Inc.
|
5,510
|
2,058,811
|
Labcorp Holdings, Inc.
|
3,854
|
784,328
|
McKesson Corp.
|
5,944
|
3,471,534
|
Molina Healthcare, Inc.(a)
|
2,679
|
796,467
|
Quest Diagnostics, Inc.
|
5,080
|
695,350
|
UnitedHealth Group, Inc.
|
42,085
|
21,432,207
|
Universal Health Services, Inc., Class B
|
2,729
|
504,674
|
Total
|
51,154,362
|
|
Life Sciences Tools & Services 1.2%
|
||
Agilent Technologies, Inc.
|
13,400
|
1,737,042
|
Bio-Rad Laboratories, Inc., Class A(a)
|
933
|
254,812
|
Bio-Techne Corp.
|
7,206
|
516,310
|
Charles River Laboratories International, Inc.(a)
|
2,355
|
486,496
|
Danaher Corp.
|
30,143
|
7,531,229
|
IQVIA Holdings, Inc.(a)
|
8,331
|
1,761,507
|
Mettler-Toledo International, Inc.(a)
|
977
|
1,365,445
|
Revvity, Inc.
|
5,642
|
591,620
|
Thermo Fisher Scientific, Inc.
|
17,454
|
9,652,062
|
Waters Corp.(a)
|
2,712
|
786,805
|
West Pharmaceutical Services, Inc.
|
3,331
|
1,097,198
|
Total
|
25,780,526
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Pharmaceuticals 3.8%
|
||
Bristol-Myers Squibb Co.
|
92,689
|
3,849,374
|
Catalent, Inc.(a)
|
8,275
|
465,303
|
Eli Lilly & Co.
|
36,504
|
33,049,992
|
Johnson & Johnson
|
110,046
|
16,084,323
|
Merck & Co., Inc.
|
115,813
|
14,337,649
|
Pfizer, Inc.
|
259,106
|
7,249,786
|
Viatris, Inc.
|
54,444
|
578,740
|
Zoetis, Inc.
|
20,864
|
3,616,983
|
Total
|
79,232,150
|
|
Total Health Care
|
245,640,137
|
|
Industrials 8.1%
|
||
Aerospace & Defense 1.8%
|
||
Axon Enterprise, Inc.(a)
|
3,244
|
954,515
|
Boeing Co. (The)(a)
|
26,386
|
4,802,516
|
General Dynamics Corp.
|
10,396
|
3,016,295
|
General Electric Co.
|
50,051
|
7,956,608
|
Howmet Aerospace, Inc.
|
17,731
|
1,376,458
|
Huntington Ingalls Industries, Inc.
|
1,803
|
444,133
|
L3Harris Technologies, Inc.
|
8,673
|
1,947,782
|
Lockheed Martin Corp.
|
9,764
|
4,560,764
|
Northrop Grumman Corp.
|
6,361
|
2,773,078
|
RTX Corp.
|
60,792
|
6,102,909
|
Textron, Inc.
|
8,720
|
748,699
|
TransDigm Group, Inc.
|
2,559
|
3,269,404
|
Total
|
37,953,161
|
|
Air Freight & Logistics 0.4%
|
||
CH Robinson Worldwide, Inc.
|
5,354
|
471,794
|
Expeditors International of Washington, Inc.
|
6,459
|
806,019
|
FedEx Corp.
|
10,352
|
3,103,944
|
United Parcel Service, Inc., Class B
|
33,352
|
4,564,221
|
Total
|
8,945,978
|
|
Building Products 0.5%
|
||
Allegion PLC
|
3,998
|
472,364
|
AO Smith Corp.
|
5,523
|
451,671
|
Builders FirstSource, Inc.(a)
|
5,581
|
772,466
|
Carrier Global Corp.
|
38,315
|
2,416,910
|
Johnson Controls International PLC
|
30,804
|
2,047,542
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Masco Corp.
|
10,071
|
671,434
|
Trane Technologies PLC
|
10,350
|
3,404,425
|
Total
|
10,236,812
|
|
Commercial Services & Supplies 0.6%
|
||
Cintas Corp.
|
3,943
|
2,761,125
|
Copart, Inc.(a)
|
40,006
|
2,166,725
|
Republic Services, Inc.
|
9,360
|
1,819,023
|
Rollins, Inc.
|
12,842
|
626,561
|
Veralto Corp.
|
10,046
|
959,092
|
Waste Management, Inc.
|
16,689
|
3,560,431
|
Total
|
11,892,957
|
|
Construction & Engineering 0.1%
|
||
Quanta Services, Inc.
|
6,694
|
1,700,878
|
Electrical Equipment 0.7%
|
||
AMETEK, Inc.
|
10,584
|
1,764,459
|
Eaton Corp. PLC
|
18,281
|
5,732,007
|
Emerson Electric Co.
|
26,159
|
2,881,675
|
GE Vernova, Inc.(a)
|
12,533
|
2,149,535
|
Generac Holdings, Inc.(a)
|
2,772
|
366,514
|
Hubbell, Inc.
|
2,455
|
897,253
|
Rockwell Automation, Inc.
|
5,213
|
1,435,035
|
Total
|
15,226,478
|
|
Ground Transportation 1.0%
|
||
CSX Corp.
|
89,389
|
2,990,062
|
JB Hunt Transport Services, Inc.
|
3,728
|
596,480
|
Norfolk Southern Corp.
|
10,330
|
2,217,748
|
Old Dominion Freight Line, Inc.
|
8,147
|
1,438,760
|
Uber Technologies, Inc.(a)
|
95,544
|
6,944,138
|
Union Pacific Corp.
|
27,898
|
6,312,201
|
Total
|
20,499,389
|
|
Industrial Conglomerates 0.4%
|
||
3M Co.
|
25,302
|
2,585,611
|
Honeywell International, Inc.
|
29,776
|
6,358,367
|
Total
|
8,943,978
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Machinery 1.6%
|
||
Caterpillar, Inc.
|
22,362
|
7,448,782
|
Cummins, Inc.
|
6,254
|
1,731,920
|
Deere & Co.
|
11,837
|
4,422,658
|
Dover Corp.
|
6,284
|
1,133,948
|
Fortive Corp.
|
16,097
|
1,192,788
|
IDEX Corp.
|
3,461
|
696,353
|
Illinois Tool Works, Inc.
|
12,416
|
2,942,096
|
Ingersoll Rand, Inc.
|
18,447
|
1,675,726
|
Nordson Corp.
|
2,484
|
576,139
|
Otis Worldwide Corp.
|
18,488
|
1,779,655
|
PACCAR, Inc.
|
23,967
|
2,467,163
|
Parker-Hannifin Corp.
|
5,878
|
2,973,151
|
Pentair PLC
|
7,592
|
582,079
|
Snap-On, Inc.
|
2,411
|
630,211
|
Stanley Black & Decker, Inc.
|
7,036
|
562,106
|
Westinghouse Air Brake Technologies Corp.
|
8,065
|
1,274,673
|
Xylem, Inc.
|
11,086
|
1,503,594
|
Total
|
33,593,042
|
|
Passenger Airlines 0.1%
|
||
American Airlines Group, Inc.(a)
|
30,000
|
339,900
|
Delta Air Lines, Inc.
|
29,507
|
1,399,812
|
Southwest Airlines Co.
|
27,364
|
782,884
|
United Airlines Holdings, Inc.(a)
|
15,035
|
731,603
|
Total
|
3,254,199
|
|
Professional Services 0.6%
|
||
Automatic Data Processing, Inc.
|
18,715
|
4,467,083
|
Broadridge Financial Solutions, Inc.
|
5,404
|
1,064,588
|
Dayforce, Inc.(a)
|
7,220
|
358,112
|
Equifax, Inc.
|
5,652
|
1,370,384
|
Jacobs Solutions, Inc.
|
5,725
|
799,840
|
Leidos Holdings, Inc.
|
6,183
|
901,976
|
Paychex, Inc.
|
14,649
|
1,736,786
|
Paycom Software, Inc.
|
2,198
|
314,402
|
Verisk Analytics, Inc.
|
6,524
|
1,758,544
|
Total
|
12,771,715
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Trading Companies & Distributors 0.3%
|
||
Fastenal Co.
|
26,180
|
1,645,151
|
United Rentals, Inc.
|
3,045
|
1,969,293
|
W.W. Grainger, Inc.
|
1,999
|
1,803,578
|
Total
|
5,418,022
|
|
Total Industrials
|
170,436,609
|
|
Information Technology 32.2%
|
||
Communications Equipment 0.8%
|
||
Arista Networks, Inc.(a)
|
11,606
|
4,067,671
|
Cisco Systems, Inc.
|
185,149
|
8,796,429
|
F5, Inc.(a)
|
2,680
|
461,576
|
Juniper Networks, Inc.
|
14,860
|
541,796
|
Motorola Solutions, Inc.
|
7,626
|
2,944,017
|
Total
|
16,811,489
|
|
Electronic Equipment, Instruments & Components 0.6%
|
||
Amphenol Corp., Class A
|
54,925
|
3,700,297
|
CDW Corp.
|
6,145
|
1,375,497
|
Corning, Inc.
|
35,252
|
1,369,540
|
Jabil, Inc.
|
5,514
|
599,868
|
Keysight Technologies, Inc.(a)
|
7,982
|
1,091,538
|
TE Connectivity Ltd.
|
14,002
|
2,106,321
|
Teledyne Technologies, Inc.(a)
|
2,168
|
841,141
|
Trimble Navigation Ltd.(a)
|
11,166
|
624,403
|
Zebra Technologies Corp., Class A(a)
|
2,351
|
726,294
|
Total
|
12,434,899
|
|
IT Services 1.0%
|
||
Accenture PLC, Class A
|
28,749
|
8,722,734
|
Akamai Technologies, Inc.(a)
|
6,965
|
627,407
|
Cognizant Technology Solutions Corp., Class A
|
22,734
|
1,545,912
|
EPAM Systems, Inc.(a)
|
2,651
|
498,680
|
Gartner, Inc.(a)
|
3,550
|
1,594,163
|
GoDaddy, Inc., Class A(a)
|
6,445
|
900,431
|
International Business Machines Corp.
|
42,003
|
7,264,419
|
VeriSign, Inc.(a)
|
3,962
|
704,443
|
Total
|
21,858,189
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Semiconductors & Semiconductor Equipment 11.9%
|
||
Advanced Micro Devices, Inc.(a)
|
73,906
|
11,988,292
|
Analog Devices, Inc.
|
22,675
|
5,175,795
|
Applied Materials, Inc.
|
37,993
|
8,965,968
|
Broadcom, Inc.
|
19,919
|
31,980,552
|
Enphase Energy, Inc.(a)
|
6,221
|
620,296
|
First Solar, Inc.(a)
|
4,894
|
1,103,401
|
Intel Corp.
|
194,652
|
6,028,372
|
KLA Corp.
|
6,156
|
5,075,684
|
Lam Research Corp.
|
5,978
|
6,365,673
|
Microchip Technology, Inc.
|
24,709
|
2,260,874
|
Micron Technology, Inc.
|
50,635
|
6,660,022
|
Monolithic Power Systems, Inc.
|
2,226
|
1,829,060
|
NVIDIA Corp.
|
1,124,762
|
138,953,097
|
NXP Semiconductors NV
|
11,691
|
3,145,931
|
ON Semiconductor Corp.(a)
|
19,672
|
1,348,516
|
Qorvo, Inc.(a)
|
4,415
|
512,317
|
QUALCOMM, Inc.
|
51,121
|
10,182,281
|
Skyworks Solutions, Inc.
|
7,336
|
781,871
|
Teradyne, Inc.
|
7,138
|
1,058,494
|
Texas Instruments, Inc.
|
41,632
|
8,098,673
|
Total
|
252,135,169
|
|
Software 10.9%
|
||
Adobe, Inc.(a)
|
20,485
|
11,380,237
|
ANSYS, Inc.(a)
|
3,992
|
1,283,428
|
Autodesk, Inc.(a)
|
9,781
|
2,420,308
|
Cadence Design Systems, Inc.(a)
|
12,443
|
3,829,333
|
Crowdstrike Holdings, Inc., Class A(a)
|
10,547
|
4,041,505
|
Fair Isaac Corp.(a)
|
1,130
|
1,682,186
|
Fortinet, Inc.(a)
|
28,993
|
1,747,408
|
Gen Digital, Inc.
|
25,195
|
629,371
|
Intuit, Inc.
|
12,802
|
8,413,602
|
Microsoft Corp.
|
339,843
|
151,892,829
|
Oracle Corp.
|
72,892
|
10,292,350
|
Palo Alto Networks, Inc.(a)
|
14,774
|
5,008,534
|
PTC, Inc.(a)
|
5,475
|
994,643
|
Roper Technologies, Inc.
|
4,895
|
2,759,116
|
Salesforce, Inc.
|
44,411
|
11,418,068
|
ServiceNow, Inc.(a)
|
9,374
|
7,374,245
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Synopsys, Inc.(a)
|
6,975
|
4,150,544
|
Tyler Technologies, Inc.(a)
|
1,941
|
975,896
|
Total
|
230,293,603
|
|
Technology Hardware, Storage & Peripherals 7.0%
|
||
Apple, Inc.(c)
|
659,083
|
138,816,062
|
Hewlett Packard Enterprise Co.
|
59,443
|
1,258,408
|
HP, Inc.
|
39,463
|
1,381,994
|
NetApp, Inc.
|
9,437
|
1,215,486
|
Seagate Technology Holdings PLC
|
8,930
|
922,201
|
Super Micro Computer, Inc.(a)
|
2,303
|
1,886,963
|
Western Digital Corp.(a)
|
14,930
|
1,131,246
|
Total
|
146,612,360
|
|
Total Information Technology
|
680,145,709
|
|
Materials 2.2%
|
||
Chemicals 1.4%
|
||
Air Products & Chemicals, Inc.
|
10,165
|
2,623,078
|
Albemarle Corp.
|
5,374
|
513,324
|
Celanese Corp., Class A
|
4,595
|
619,820
|
CF Industries Holdings, Inc.
|
8,358
|
619,495
|
Corteva, Inc.
|
31,870
|
1,719,068
|
Dow, Inc.
|
32,154
|
1,705,770
|
DuPont de Nemours, Inc.
|
19,118
|
1,538,808
|
Eastman Chemical Co.
|
5,380
|
527,079
|
Ecolab, Inc.
|
11,621
|
2,765,798
|
FMC Corp.
|
5,707
|
328,438
|
International Flavors & Fragrances, Inc.
|
11,676
|
1,111,672
|
Linde PLC
|
21,981
|
9,645,483
|
LyondellBasell Industries NV, Class A
|
11,762
|
1,125,153
|
Mosaic Co. (The)
|
14,696
|
424,714
|
PPG Industries, Inc.
|
10,762
|
1,354,828
|
Sherwin-Williams Co. (The)
|
10,666
|
3,183,054
|
Total
|
29,805,582
|
|
Construction Materials 0.2%
|
||
Martin Marietta Materials, Inc.
|
2,818
|
1,526,792
|
Vulcan Materials Co.
|
6,047
|
1,503,768
|
Total
|
3,030,560
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Containers & Packaging 0.2%
|
||
Amcor PLC
|
66,088
|
646,341
|
Avery Dennison Corp.
|
3,683
|
805,288
|
Ball Corp.
|
14,192
|
851,804
|
International Paper Co.
|
15,882
|
685,308
|
Packaging Corp. of America
|
4,076
|
744,114
|
WestRock Co.
|
11,804
|
593,269
|
Total
|
4,326,124
|
|
Metals & Mining 0.4%
|
||
Freeport-McMoRan, Inc.
|
65,684
|
3,192,242
|
Newmont Corp.
|
52,727
|
2,207,680
|
Nucor Corp.
|
10,963
|
1,733,031
|
Steel Dynamics, Inc.
|
6,754
|
874,643
|
Total
|
8,007,596
|
|
Total Materials
|
45,169,862
|
|
Real Estate 2.1%
|
||
Health Care REITs 0.3%
|
||
Alexandria Real Estate Equities, Inc.
|
7,197
|
841,833
|
Healthpeak Properties, Inc.
|
32,181
|
630,748
|
Ventas, Inc.
|
18,508
|
948,720
|
Welltower, Inc.
|
27,340
|
2,850,195
|
Total
|
5,271,496
|
|
Hotel & Resort REITs 0.0%
|
||
Host Hotels & Resorts, Inc.
|
32,238
|
579,639
|
Industrial REITs 0.2%
|
||
Prologis, Inc.
|
42,334
|
4,754,531
|
Office REITs 0.0%
|
||
BXP, Inc.
|
6,607
|
406,727
|
Real Estate Management & Development 0.1%
|
||
CBRE Group, Inc., Class A(a)
|
13,791
|
1,228,916
|
CoStar Group, Inc.(a)
|
18,671
|
1,384,268
|
Total
|
2,613,184
|
|
Residential REITs 0.3%
|
||
AvalonBay Communities, Inc.
|
6,493
|
1,343,337
|
Camden Property Trust
|
4,871
|
531,475
|
Equity Residential
|
15,769
|
1,093,422
|
Essex Property Trust, Inc.
|
2,936
|
799,179
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
Invitation Homes, Inc.
|
26,328
|
944,912
|
Mid-America Apartment Communities, Inc.
|
5,342
|
761,823
|
UDR, Inc.
|
13,853
|
570,051
|
Total
|
6,044,199
|
|
Retail REITs 0.3%
|
||
Federal Realty Investment Trust
|
3,414
|
344,712
|
Kimco Realty Corp.
|
30,516
|
593,841
|
Realty Income Corp.
|
39,816
|
2,103,081
|
Regency Centers Corp.
|
7,520
|
467,744
|
Simon Property Group, Inc.
|
14,903
|
2,262,275
|
Total
|
5,771,653
|
|
Specialized REITs 0.9%
|
||
American Tower Corp.
|
21,352
|
4,150,402
|
Crown Castle, Inc.
|
19,869
|
1,941,201
|
Digital Realty Trust, Inc.
|
14,838
|
2,256,118
|
Equinix, Inc.
|
4,340
|
3,283,644
|
Extra Space Storage, Inc.
|
9,681
|
1,504,524
|
Iron Mountain, Inc.
|
13,404
|
1,201,267
|
Public Storage
|
7,232
|
2,080,285
|
SBA Communications Corp.
|
4,913
|
964,422
|
VICI Properties, Inc.
|
47,700
|
1,366,128
|
Weyerhaeuser Co.
|
33,334
|
946,352
|
Total
|
19,694,343
|
|
Total Real Estate
|
45,135,772
|
|
Utilities 2.3%
|
||
Electric Utilities 1.5%
|
||
Alliant Energy Corp.
|
11,723
|
596,701
|
American Electric Power Co., Inc.
|
24,103
|
2,114,797
|
Constellation Energy Corp.
|
14,414
|
2,886,692
|
Duke Energy Corp.
|
35,289
|
3,537,017
|
Edison International
|
17,593
|
1,263,353
|
Entergy Corp.
|
9,764
|
1,044,748
|
Evergy, Inc.
|
10,514
|
556,927
|
Eversource Energy
|
16,107
|
913,428
|
Exelon Corp.
|
45,727
|
1,582,611
|
FirstEnergy Corp.
|
23,685
|
906,425
|
NextEra Energy, Inc.
|
93,944
|
6,652,175
|
NRG Energy, Inc.
|
9,533
|
742,239
|
Common Stocks (continued)
|
||
Issuer
|
Shares
|
Value ($)
|
PG&E Corp.
|
97,716
|
1,706,121
|
Pinnacle West Capital Corp.
|
5,192
|
396,565
|
PPL Corp.
|
33,733
|
932,717
|
Southern Co. (The)
|
49,997
|
3,878,267
|
Xcel Energy, Inc.
|
25,407
|
1,356,988
|
Total
|
31,067,771
|
|
Gas Utilities 0.0%
|
||
Atmos Energy Corp.
|
6,899
|
804,769
|
Independent Power and Renewable Electricity Producers 0.1%
|
||
AES Corp. (The)
|
32,495
|
570,937
|
Vistra Corp.
|
14,934
|
1,284,026
|
Total
|
1,854,963
|
|
Multi-Utilities 0.6%
|
||
Ameren Corp.
|
12,194
|
867,115
|
CenterPoint Energy, Inc.
|
29,251
|
906,196
|
CMS Energy Corp.
|
13,655
|
812,882
|
Consolidated Edison, Inc.
|
15,813
|
1,413,998
|
Dominion Energy, Inc.
|
38,327
|
1,878,023
|
DTE Energy Co.
|
9,462
|
1,050,377
|
NiSource, Inc.
|
20,499
|
590,576
|
Public Service Enterprise Group, Inc.
|
22,775
|
1,678,518
|
Sempra
|
28,937
|
2,200,948
|
WEC Energy Group, Inc.
|
14,441
|
1,133,041
|
Total
|
12,531,674
|
|
Water Utilities 0.1%
|
||
American Water Works Co., Inc.
|
8,908
|
1,150,557
|
Total Utilities
|
47,409,734
|
|
Total Common Stocks
(Cost $1,003,389,599)
|
2,096,093,778
|
|
|
||
Money Market Funds 0.8%
|
||
|
Shares
|
Value ($)
|
Columbia Short-Term Cash Fund, 5.547%(b),(d)
|
17,342,744
|
17,337,541
|
Total Money Market Funds
(Cost $17,338,233)
|
17,337,541
|
|
Total Investments in Securities
(Cost: $1,020,727,832)
|
2,113,431,319
|
|
Other Assets & Liabilities, Net
|
(1,323,755
)
|
|
Net Assets
|
2,112,107,564
|
Long futures contracts
|
||||||
Description
|
Number of
contracts
|
Expiration
date
|
Trading
currency
|
Notional
amount
|
Value/Unrealized
appreciation ($)
|
Value/Unrealized
depreciation ($)
|
S&P 500 Index E-mini
|
75
|
09/2024
|
USD
|
20,705,625
|
69,682
|
-
|
(a)
|
Non-income producing investment.
|
(b)
|
As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended June 30, 2024 are as follows:
|
Affiliated issuers
|
Beginning
of period($)
|
Purchases($)
|
Sales($)
|
Net change in
unrealized
appreciation
(depreciation)($)
|
End of
period($)
|
Realized gain
(loss)($)
|
Dividends($)
|
End of
period shares
|
Ameriprise Financial, Inc.
|
||||||||
|
1,771,147
|
-
|
(4,557
)
|
173,707
|
1,940,297
|
46,308
|
13,047
|
4,542
|
Columbia Short-Term Cash Fund, 5.547%
|
||||||||
|
16,099,315
|
40,108,414
|
(38,868,510
)
|
(1,678
)
|
17,337,541
|
508
|
405,243
|
17,342,744
|
Total
|
17,870,462
|
172,029
|
19,277,838
|
46,816
|
418,290
|
(c)
|
This security or a portion of this security has been pledged as collateral in connection with derivative contracts.
|
(d)
|
The rate shown is the seven-day current annualized yield at June 30, 2024.
|
USD
|
US Dollar
|
|
Level 1 ($)
|
Level 2 ($)
|
Level 3 ($)
|
Total ($)
|
Investments in Securities
|
||||
Common Stocks
|
||||
Communication Services
|
195,851,540
|
-
|
-
|
195,851,540
|
Consumer Discretionary
|
208,659,230
|
-
|
-
|
208,659,230
|
Consumer Staples
|
120,908,948
|
-
|
-
|
120,908,948
|
Energy
|
76,494,134
|
-
|
-
|
76,494,134
|
Financials
|
260,242,103
|
-
|
-
|
260,242,103
|
Health Care
|
245,640,137
|
-
|
-
|
245,640,137
|
Industrials
|
170,436,609
|
-
|
-
|
170,436,609
|
Information Technology
|
680,145,709
|
-
|
-
|
680,145,709
|
Materials
|
45,169,862
|
-
|
-
|
45,169,862
|
Real Estate
|
45,135,772
|
-
|
-
|
45,135,772
|
Utilities
|
47,409,734
|
-
|
-
|
47,409,734
|
Total Common Stocks
|
2,096,093,778
|
-
|
-
|
2,096,093,778
|
Money Market Funds
|
17,337,541
|
-
|
-
|
17,337,541
|
Total Investments in Securities
|
2,113,431,319
|
-
|
-
|
2,113,431,319
|
Investments in Derivatives
|
||||
Asset
|
||||
Futures Contracts
|
69,682
|
-
|
-
|
69,682
|
Total
|
2,113,501,001
|
-
|
-
|
2,113,501,001
|
Assets
|
|
Investments in securities, at value
|
|
Unaffiliated issuers (cost $1,002,834,940)
|
$2,094,153,481
|
Affiliated issuers (cost $17,892,892)
|
19,277,838
|
Receivable for:
|
|
Investments sold
|
75,882
|
Capital shares sold
|
249,362
|
Dividends
|
1,123,844
|
Foreign tax reclaims
|
18,730
|
Expense reimbursement due from Investment Manager
|
98
|
Prepaid expenses
|
6,327
|
Total assets
|
2,114,905,562
|
Liabilities
|
|
Due to custodian
|
2,667
|
Payable for:
|
|
Capital shares redeemed
|
2,440,922
|
Variation margin for futures contracts
|
91,875
|
Management services fees
|
11,603
|
Distribution and/or service fees
|
4,307
|
Service fees
|
51,564
|
Compensation of chief compliance officer
|
169
|
Compensation of board members
|
3,675
|
Other expenses
|
81,083
|
Deferred compensation of board members
|
110,133
|
Total liabilities
|
2,797,998
|
Net assets applicable to outstanding capital stock
|
$2,112,107,564
|
Represented by
|
|
Trust capital
|
$2,112,107,564
|
Total - representing net assets applicable to outstanding capital stock
|
$2,112,107,564
|
Class 1
|
|
Net assets
|
$1,031,447,633
|
Shares outstanding
|
22,188,739
|
Net asset value per share
|
$46.49
|
Class 2
|
|
Net assets
|
$174,753,841
|
Shares outstanding
|
3,882,545
|
Net asset value per share
|
$45.01
|
Class 3
|
|
Net assets
|
$905,906,090
|
Shares outstanding
|
19,794,688
|
Net asset value per share
|
$45.77
|
Net investment income
|
|
Income:
|
|
Dividends - unaffiliated issuers
|
$13,961,400
|
Dividends - affiliated issuers
|
418,290
|
Foreign taxes withheld
|
(3,586
)
|
Total income
|
14,376,104
|
Expenses:
|
|
Management services fees
|
1,972,115
|
Distribution and/or service fees
|
|
Class 2
|
188,627
|
Class 3
|
533,413
|
Service fees
|
329,625
|
Custodian fees
|
10,269
|
Printing and postage fees
|
19,766
|
Licensing fees and expenses
|
86,893
|
Accounting services fees
|
15,328
|
Legal fees
|
15,982
|
Interest on collateral
|
386
|
Compensation of chief compliance officer
|
178
|
Compensation of board members
|
15,718
|
Deferred compensation of board members
|
16,092
|
Other
|
14,790
|
Total expenses
|
3,219,182
|
Fees waived or expenses reimbursed by Investment Manager and its affiliates
|
(31,560
)
|
Total net expenses
|
3,187,622
|
Net investment income
|
11,188,482
|
Realized and unrealized gain (loss) - net
|
|
Net realized gain (loss) on:
|
|
Investments - unaffiliated issuers
|
19,148,171
|
Investments - affiliated issuers
|
46,816
|
Futures contracts
|
2,478,147
|
Net realized gain
|
21,673,134
|
Net change in unrealized appreciation (depreciation) on:
|
|
Investments - unaffiliated issuers
|
246,386,764
|
Investments - affiliated issuers
|
172,029
|
Futures contracts
|
(609,469
)
|
Net change in unrealized appreciation (depreciation)
|
245,949,324
|
Net realized and unrealized gain
|
267,622,458
|
Net increase in net assets resulting from operations
|
$278,810,940
|
|
Six Months Ended
June 30, 2024
(Unaudited)
|
Year Ended
December 31, 2023
|
Operations
|
||
Net investment income
|
$11,188,482
|
$22,811,236
|
Net realized gain
|
21,673,134
|
41,805,380
|
Net change in unrealized appreciation (depreciation)
|
245,949,324
|
325,297,025
|
Net increase in net assets resulting from operations
|
278,810,940
|
389,913,641
|
Decrease in net assets from capital stock activity
|
(27,602,673
)
|
(53,954,838
)
|
Total increase in net assets
|
251,208,267
|
335,958,803
|
Net assets at beginning of period
|
1,860,899,297
|
1,524,940,494
|
Net assets at end of period
|
$2,112,107,564
|
$1,860,899,297
|
|
Six Months Ended
|
Year Ended
|
||
|
June 30, 2024 (Unaudited)
|
December 31, 2023
|
||
|
Shares
|
Dollars ($)
|
Shares
|
Dollars ($)
|
Capital stock activity
|
||||
Class 1
|
||||
Shares sold
|
471,574
|
20,478,302
|
945,949
|
34,218,490
|
Shares redeemed
|
(979,662
)
|
(42,497,891
)
|
(2,636,470
)
|
(96,357,997
)
|
Net decrease
|
(508,088
)
|
(22,019,589
)
|
(1,690,521
)
|
(62,139,507
)
|
Class 2
|
||||
Shares sold
|
608,130
|
25,724,813
|
1,309,291
|
45,838,679
|
Shares redeemed
|
(107,358
)
|
(4,563,102
)
|
(155,137
)
|
(5,509,594
)
|
Net increase
|
500,772
|
21,161,711
|
1,154,154
|
40,329,085
|
Class 3
|
||||
Shares sold
|
209,843
|
8,945,428
|
504,043
|
17,818,075
|
Shares redeemed
|
(837,519
)
|
(35,690,223
)
|
(1,402,920
)
|
(49,962,491
)
|
Net decrease
|
(627,676
)
|
(26,744,795
)
|
(898,877
)
|
(32,144,416
)
|
Total net decrease
|
(634,992
)
|
(27,602,673
)
|
(1,435,244
)
|
(53,954,838
)
|
|
Net asset value,
beginning of
period
|
Net
investment
income
|
Net
realized
and
unrealized
gain (loss)
|
Total from
investment
operations
|
Class 1
|
||||
Six Months Ended 6/30/2024 (Unaudited)
|
$40.37
|
0.26
|
5.86
|
6.12
|
Year Ended 12/31/2023
|
$32.05
|
0.51
|
7.81
|
8.32
|
Year Ended 12/31/2022
|
$39.25
|
0.46
|
(7.66
)
|
(7.20
)
|
Year Ended 12/31/2021
|
$30.57
|
0.40
|
8.28
|
8.68
|
Year Ended 12/31/2020
|
$25.90
|
0.45
|
4.22
|
4.67
|
Year Ended 12/31/2019
|
$19.75
|
0.44
|
5.71
|
6.15
|
Class 2
|
||||
Six Months Ended 6/30/2024 (Unaudited)
|
$39.14
|
0.20
|
5.67
|
5.87
|
Year Ended 12/31/2023
|
$31.15
|
0.41
|
7.58
|
7.99
|
Year Ended 12/31/2022
|
$38.24
|
0.37
|
(7.46
)
|
(7.09
)
|
Year Ended 12/31/2021
|
$29.86
|
0.31
|
8.07
|
8.38
|
Year Ended 12/31/2020
|
$25.36
|
0.37
|
4.13
|
4.50
|
Year Ended 12/31/2019
|
$19.39
|
0.37
|
5.60
|
5.97
|
Class 3
|
||||
Six Months Ended 6/30/2024 (Unaudited)
|
$39.77
|
0.23
|
5.77
|
6.00
|
Year Ended 12/31/2023
|
$31.61
|
0.46
|
7.70
|
8.16
|
Year Ended 12/31/2022
|
$38.76
|
0.41
|
(7.56
)
|
(7.15
)
|
Year Ended 12/31/2021
|
$30.23
|
0.35
|
8.18
|
8.53
|
Year Ended 12/31/2020
|
$25.65
|
0.41
|
4.17
|
4.58
|
Year Ended 12/31/2019
|
$19.58
|
0.40
|
5.67
|
6.07
|
Notes to Financial Highlights
|
|
(a)
|
In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios.
|
(b)
|
Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.
|
(c)
|
Ratios include interest on collateral expense which is less than 0.01%.
|
(d)
|
Ratios include interfund lending expense which is less than 0.01%.
|
|
Net
asset
value,
end of
period
|
Total
return
|
Total gross
expense
ratio to
average
net assets(a)
|
Total net
expense
ratio to
average
net assets(a),(b)
|
Net investment
income
ratio to
average
net assets
|
Portfolio
turnover
|
Net
assets,
end of
period
(000's)
|
Class 1
|
|||||||
Six Months Ended 6/30/2024 (Unaudited)
|
$46.49
|
15.16%
|
0.25%
(c)
|
0.25%
(c)
|
1.21%
|
1%
|
$1,031,448
|
Year Ended 12/31/2023
|
$40.37
|
25.96%
|
0.25%
(c)
|
0.25%
(c)
|
1.42%
|
2%
|
$916,315
|
Year Ended 12/31/2022
|
$32.05
|
(18.34%
)
|
0.25%
(c)
|
0.25%
(c)
|
1.36%
|
2%
|
$781,574
|
Year Ended 12/31/2021
|
$39.25
|
28.39%
|
0.25%
(c)
|
0.25%
(c)
|
1.14%
|
5%
|
$947,973
|
Year Ended 12/31/2020
|
$30.57
|
18.03%
|
0.26%
(d)
|
0.26%
(d)
|
1.72%
|
9%
|
$742,971
|
Year Ended 12/31/2019
|
$25.90
|
31.14%
|
0.26%
|
0.26%
|
1.91%
|
2%
|
$599,584
|
Class 2
|
|||||||
Six Months Ended 6/30/2024 (Unaudited)
|
$45.01
|
15.00%
|
0.50%
(c)
|
0.50%
(c)
|
0.96%
|
1%
|
$174,754
|
Year Ended 12/31/2023
|
$39.14
|
25.65%
|
0.51%
(c)
|
0.50%
(c)
|
1.18%
|
2%
|
$132,360
|
Year Ended 12/31/2022
|
$31.15
|
(18.54%
)
|
0.50%
(c)
|
0.50%
(c)
|
1.15%
|
2%
|
$69,385
|
Year Ended 12/31/2021
|
$38.24
|
28.07%
|
0.50%
(c)
|
0.50%
(c)
|
0.89%
|
5%
|
$43,195
|
Year Ended 12/31/2020
|
$29.86
|
17.74%
|
0.51%
(d)
|
0.51%
(d)
|
1.48%
|
9%
|
$11,359
|
Year Ended 12/31/2019
|
$25.36
|
30.79%
|
0.51%
|
0.51%
|
1.63%
|
2%
|
$11,354
|
Class 3
|
|||||||
Six Months Ended 6/30/2024 (Unaudited)
|
$45.77
|
15.09%
|
0.38%
(c)
|
0.38%
(c)
|
1.08%
|
1%
|
$905,906
|
Year Ended 12/31/2023
|
$39.77
|
25.82%
|
0.38%
(c)
|
0.38%
(c)
|
1.30%
|
2%
|
$812,224
|
Year Ended 12/31/2022
|
$31.61
|
(18.45%
)
|
0.38%
(c)
|
0.38%
(c)
|
1.23%
|
2%
|
$673,982
|
Year Ended 12/31/2021
|
$38.76
|
28.22%
|
0.38%
(c)
|
0.38%
(c)
|
1.01%
|
5%
|
$858,770
|
Year Ended 12/31/2020
|
$30.23
|
17.85%
|
0.38%
(d)
|
0.38%
(d)
|
1.59%
|
9%
|
$689,960
|
Year Ended 12/31/2019
|
$25.65
|
31.00%
|
0.39%
|
0.39%
|
1.76%
|
2%
|
$599,751
|
|
Asset derivatives
|
|
Risk exposure
category
|
Statement
of assets and liabilities
location
|
Fair value ($)
|
Equity risk
|
Component of trust capital - unrealized appreciation on futures contracts
|
69,682
*
|
*
|
Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day's variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities.
|
Amount of realized gain (loss) on derivatives recognized in income
|
|
Risk exposure category
|
Futures
contracts
($)
|
Equity risk
|
2,478,147
|
|
|
Change in unrealized appreciation (depreciation) on derivatives recognized in income
|
|
Risk exposure category
|
Futures
contracts
($)
|
Equity risk
|
(609,469
)
|
Derivative instrument
|
Average notional
amounts ($)
|
Futures contracts - long
|
17,323,286
|
|
Fee rate(s) contractual
through
April 30, 2025 (%)
|
Class 1
|
0.25
|
Class 2
|
0.50
|
Class 3
|
0.375
|
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.
Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies is included in Item 7 of this Form N-CSR.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Statement regarding basis for approval of Investment Advisory Contract is included in Item 7 of this Form N-CSR.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 15. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors implemented since the registrant last provided disclosure as to such procedures in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K or Item 15 of Form N-CSR.
Item 16. Controls and Procedures.
(a) The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b) There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.
Item 19. Exhibits.
(a)(1) Not applicable.
(a)(2) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.
(b) Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) attached hereto as Exhibit 99.906CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) | Columbia Funds Variable Series Trust II |
|
|
By (Signature and Title) | /s/ Daniel J. Beckman |
Daniel J. Beckman, President and Principal Executive Officer | |
|
|
Date | August 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman |
Daniel J. Beckman, President and Principal Executive Officer | |
|
|
Date | August 22, 2024 |
|
|
By (Signature and Title) | /s/ Michael G. Clarke |
Michael G. Clarke, Chief Financial Officer, | |
Principal Financial Officer and Senior Vice President | |
|
|
Date | August 22, 2024 |
|
|
By (Signature and Title) | /s/ Charles H. Chiesa |
Charles H. Chiesa, Treasurer, Chief Accounting | |
Officer and Principal Financial Officer | |
|
|
Date | August 22, 2024 |