Columbia Funds Variable Series Trust II

07/07/2026 | Press release | Distributed by Public on 07/07/2026 07:59

Summary Prospectus by Investment Company (Form 497K)

Supplement dated July 7, 2026
to the Prospectus and Summary Prospectus of the following fund (the Fund): 
Fund
Prospectus and Summary Prospectus Dated
Columbia Funds Variable Series Trust II
 Variable Portfolio - Partners Small Cap Value Fund
5/1/2026
Effective immediately, the portfolio manager information for William Blair Investment Management, LLC (William Blair) under the caption "Fund Management" in the Summary Prospectus and in the "Summary of the Fund" section of the Prospectus is hereby superseded and replaced with the following:
Subadviser: William Blair Investment Management, LLC (William Blair) 
Portfolio Management
Title
Role with Fund
Managed Fund Since
Matthew Fleming, CFA
Portfolio Manager of William Blair
Co-Portfolio Manager
2024
Mark Goodman, CFA
Portfolio Manager of William Blair
Co-Portfolio Manager
October 2025
The rest of the section remains the same.
Effective immediately, the portfolio manager information for William Blair under the caption "Primary Service Provider Contracts - Portfolio Managers" in the "More Information About the Fund" section of the Prospectus is hereby superseded and replaced with the following:
Subadviser: William Blair Investment Management, LLC (William Blair) 
Portfolio Management
Title
Role with Fund
Managed Fund Since
Matthew Fleming, CFA
Portfolio Manager of William Blair
Co-Portfolio Manager
2024
Mark Goodman, CFA
Portfolio Manager of William Blair
Co-Portfolio Manager
October 2025
Mr. Fleming joined William Blair in 2021. Prior to joining William Blair, Mr. Fleming worked at Investment Counselors of Maryland, LLC from 2008 to 2021. Mr. Fleming began his investment career in 1996 and earned a B.A. from Princeton University.
Mr. Goodman joined William Blair in 2025. Prior to joining William Blair, Mr. Goodman worked at Wellington Management Company LLP from 2019 to 2025. Mr. Goodman began his investment career in 2000 and earned a B.S. from The University of Virginia.
The rest of the section remains the same.
Shareholders should retain this Supplement for future reference.
SUP7058-0005_(07/26)
Columbia Funds Variable Series Trust II published this content on July 07, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 07, 2026 at 13:59 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]