PORTFOLIO OF INVESTMENTS CTIVP® – Morgan Stanley Advantage Fund, September 30, 2020 (Unaudited) (Percentages represent value of investments compared to net assets) Investments in securities Common Stocks 97.8% Common Stocks (continued) Issuer Shares Value ($) Issuer Shares Value ($) Communication Services 17.4% Health Care 15.3% Entertainment 7.4% Health Care Equipment & Supplies 6.1% Activision Blizzard, Inc. 294,212 23,816,461 Danaher Corp. 76,850 16,548,111 (a) Spotify Technology SA 339,876 82,443,721 Intuitive Surgical, Inc.(a) 116,923 82,961,545 (a) Take-Two Interactive Software, Inc. 94,757 15,655,752 Total 99,509,656 Total 121,915,934 Health Care Technology 5.2% Interactive Media & Services 10.0% Veeva Systems Inc., Class A(a) 302,405 85,033,262 Facebook, Inc., Class A(a) 215,456 56,427,926 Pharmaceuticals 4.0% IAC/InterActiveCorp(a) 126,310 15,129,412 Royalty Pharma PLC, Class A 569,299 23,950,409 Match Group, Inc.(a) 143,221 15,847,404 Zoetis, Inc. 258,366 42,725,985 Twitter, Inc.(a) 1,709,332 76,065,274 Total 66,676,394 Total 163,470,016 Total Health Care 251,219,312 Total Communication Services 285,385,950 Industrials 3.4% Consumer Discretionary 9.1% Aerospace & Defense 2.1% Internet & Direct Marketing Retail 8.1% HEICO Corp., Class A 387,576 34,362,488 Amazon.com, Inc.(a) 34,525 108,709,903 Industrial Conglomerates 1.3% Chewy, Inc., Class A(a) 439,432 24,094,057 Roper Technologies, Inc. 53,546 21,156,560 Total 132,803,960 Total Industrials 55,519,048 Textiles, Apparel & Luxury Goods 1.0% Information Technology 41.5% lululemon athletica, Inc.(a) 47,148 15,529,137 Electronic Equipment, Instruments & Components 2.1% Total Consumer Discretionary 148,333,097 Adyen NV(a) 19,112 35,251,776 Consumer Staples 2.5% IT Services 23.2% Food & Staples Retailing 2.5% Okta, Inc.(a) 385,915 82,527,923 Costco Wholesale Corp. 117,362 41,663,510 Shopify, Inc., Class A(a) 102,105 104,450,352 Total Consumer Staples 41,663,510 Square, Inc., Class A(a) 688,506 111,916,650 Energy 0.2% Twilio, Inc., Class A(a) 327,677 80,965,710 Oil, Gas & Consumable Fuels 0.2% Total 379,860,635 Texas Pacific Land Trust 5,922 2,674,139 Software 16.2% Total Energy 2,674,139 Autodesk, Inc.(a) 102,933 23,778,552 Financials 1.5% Coupa Software, Inc.(a) 178,819 49,039,323 Capital Markets 1.5% ServiceNow, Inc.(a) 129,308 62,714,380 Intercontinental Exchange, Inc. 116,925 11,698,346 Slack Technologies, Inc.(a) 1,177,679 31,632,458 S&P Global, Inc. 36,244 13,069,587 Workday, Inc., Class A(a) 215,948 46,456,893 Total 24,767,933 Zoom Video Communications, Inc., Class A(a) 108,720 51,110,359 Total Financials 24,767,933 Total 264,731,965 Total Information Technology 679,844,376 CTIVP® – Morgan Stanley Advantage Fund | Quarterly Report 2020 1 PORTFOLIO OF INVESTMENTS (continued) CTIVP® – Morgan Stanley Advantage Fund, September 30, 2020 (Unaudited) Common Stocks (continued) Money Market Funds 2.4% Issuer Shares Value ($) Shares Value ($) (b),(c) Materials 6.9% Columbia Short-Term Cash Fund, 0.136% 39,442,019 39,438,075 Chemicals 4.1% Total Money Market Funds (Cost $39,441,267) 39,438,075 Ecolab, Inc. 208,712 41,709,006 Total Investments in Securities Sherwin-Williams Co. (The) 37,132 25,871,350 (Cost: $1,072,467,428) 1,642,144,742 Total 67,580,356 Other Assets & Liabilities, Net (3,038,679) Construction Materials 1.5% Net Assets 1,639,106,063 Martin Marietta Materials, Inc. 107,863 25,386,635 Containers & Packaging 1.1% Ball Corp. 213,957 17,784,106 Metals & Mining 0.2% Royal Gold, Inc. 21,205 2,548,205 Total Materials 113,299,302 Total Common Stocks (Cost $1,033,026,161) 1,602,706,667 Notes to Portfolio of Investments (a) Non-income producing investment. (b) The rate shown is the seven-day current annualized yield at September 30, 2020. (c) As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended September 30, 2020 are as follows: Net change in unrealized Beginning appreciation End of Realized gain End of Affiliated issuers of period($) Purchases($) Sales($) (depreciation)($) period($) (loss)($) Dividends($) period shares Columbia Short-Term Cash Fund, 0.136% 50,981,933 607,306,100 (618,847,329) (2,629) 39,438,075 (1,491) 231,727 39,442,019 Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report. 2 CTIVP® – Morgan Stanley Advantage Fund | Quarterly Report 2020 3QT7035_09_K01_(09/20).