# EDGAR Filing Document

**Accession Number:** 0001413032
**File Stem:** 0001193125-23-052671
**Filing Date:** 2023-2
**Character Count:** 9055
**Document Hash:** 0a88b50741138e05c36759019025072b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-052671.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001193125-23-052671

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**EFFECTIVENESS DATE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Columbia Funds Variable Series Trust II
- **CENTRAL INDEX KEY:** 0001413032
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-146374
- **FILM NUMBER:** 23678948

**BUSINESS ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 800-345-6611

**MAIL ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RiverSource Variable Series Trust
- **DATE OF NAME CHANGE:** 20070920

## Series and Classes Contracts Data

### Variable Portfolio - Moderately Aggressive Portfolio (Series ID: S000028694)

| Class ID   | Class Name                                                   | Ticker Symbol   |
|:---|:---|:---|
| C000087806 | Variable Portfolio - Moderately Aggressive Portfolio Class 2 |  |
| C000087807 | Variable Portfolio - Moderately Aggressive Portfolio Class 4 |  |
| C000209986 | Variable Portfolio - Moderately Aggressive Portfolio Class 1 |  |

#### Supplement dated February 28, 2023
to the Prospectus, Summary Prospectuses and Statement of Additional Information (SAI), each as supplemented, if

applicable, of each of the following funds (each, a Fund, and collectively, the Funds):

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Prospectus and Summary Prospectuses Dated** | &nbsp;&nbsp;&nbsp;&nbsp;**SAI Dated** |
| &nbsp;&nbsp;**Columbia Funds Variable Series Trust II** | | |
| &nbsp;&nbsp;Variable Portfolio – Aggressive Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;5/1/2022 | &nbsp;&nbsp;&nbsp;&nbsp;11/23/2022 |
| &nbsp;&nbsp;Variable Portfolio – Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;5/1/2022 | &nbsp;&nbsp;&nbsp;&nbsp;11/23/2022 |
| &nbsp;&nbsp;Variable Portfolio – Moderately Aggressive Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;5/1/2022 | &nbsp;&nbsp;&nbsp;&nbsp;11/23/2022 |
| &nbsp;&nbsp;Variable Portfolio – Moderately Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;5/1/2022 | &nbsp;&nbsp;&nbsp;&nbsp;11/23/2022 |
| &nbsp;&nbsp;Variable Portfolio – Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;5/1/2022 | &nbsp;&nbsp;&nbsp;&nbsp;11/23/2022 |

---

*The portfolio manager information under the heading "Fund Management" in the "Summary of the Fund" section of each Summary Prospectus and the Prospectus, is hereby superseded and replaced with the following:*

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*

<br> ---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Management** | &nbsp;&nbsp;&nbsp;&nbsp;**Title** | &nbsp;&nbsp;&nbsp;&nbsp;**Role with Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Fund Since** |
| Brian Virginia | &nbsp;&nbsp;&nbsp;&nbsp;Senior Portfolio Manager and Head of Insurance Investments | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2015 |
| David Weiss, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Vice President, Head of Sub-Advisory Management | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2016 |
| Joshua Kutin, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Senior Portfolio Manager and Head of North America Asset Allocation | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2018 |
| Dan Boncarosky, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Senior Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;February 2023 |

---

*The rest of the section remains the same.*

*The portfolio manager information under the heading "Primary Service Provider Contracts - Portfolio Managers" in the More Information About the Funds" section of the Prospectus, is hereby superseded and replaced with the following:*

#### Portfolio Managers
Information about the portfolio managers primarily responsible for overseeing the Fund's investments is shown below. The SAI provides additional information about the portfolio managers, including information relating to compensation, other accounts managed by the portfolio managers, and ownership by the portfolio managers of Fund shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Management** | &nbsp;&nbsp;&nbsp;&nbsp;**Title** | &nbsp;&nbsp;&nbsp;&nbsp;**Role with Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Fund Since** |
| Brian Virginia | &nbsp;&nbsp;&nbsp;&nbsp;Senior Portfolio Manager and Head of Insurance Investments | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2015 |
| David Weiss, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Vice President, Head of Sub-Advisory Management | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2016 |
| Joshua Kutin, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Senior Portfolio Manager and Head of North America Asset Allocation | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2018 |
| Dan Boncarosky, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Senior Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;February 2023 |

---

#### Mr. Virginia joined the Investment Manager in 2010. Mr. Virginia began his investment career in 1996 and earned a B.S. from Kansas State University.
**Mr. Weiss joined the Investment Manager in August 2015 as Vice President, Head of Sub-Advisory Management. Prior to joining the Investment Manager, Mr. Weiss was at Lincoln Financial Group where he was a Portfolio Manager and CIO of Lincoln Investment Advisors Corp. Mr. Weiss began his investment career in 1999 and earned a B.S. in management from Plymouth State College and an M.B.A. from Boston University Graduate School of Management.**

**Mr. Kutin joined the Investment Manager in 2015 as a senior portfolio manager for the Global Investment Solutions Group. Mr. Kutin began his investment career in 1998 and earned a B.S. in economics and a B.S. in mathematics with computer science from Massachusetts Institute of Technology and an M.S. in finance from Princeton University.**

**Mr. Boncarosky joined one of the Columbia Management legacy firms or acquired business lines in 2008. Mr. Boncarosky began his investment career in 2008 and earned a B.S. from Leonard N. Stern School of Business at New York University.**

SUP7041-0001_(02/23)

------

*Effective immediately, all references to Anwiti Bahuguna in the SAI are hereby removed. Additionally, the information under the subsection "The Investment Manager and Subadvisers – Portfolio Managers" in the "Investment Management and Other Services" section of the SAI with respect to each of the Funds listed below is hereby revised to add the following:*

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*

<br> ---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Other accounts Managed (excluding the Fund)** | **Other accounts Managed (excluding the Fund)** | **Other accounts Managed (excluding the Fund)** | **Potential <br> Conflicts<br> of Interest** | **Structure <br> of<br> Compensation** |
| **Fund** | **Portfolio <br> Manager** | **Number <br> and Type<br> of Account\*** | **Approximate <br> Total Net<br> Assets** | **Performance- <br> Based<br> Accounts\*\*** | **Potential <br> Conflicts<br> of Interest** | **Structure <br> of<br> Compensation** |
|  ***<u>Information is as of December 31, 2021, unless otherwise noted</u>*** |  ***<u>Information is as of December 31, 2021, unless otherwise noted</u>*** |  ***<u>Information is as of December 31, 2021, unless otherwise noted</u>*** |  ***<u>Information is as of December 31, 2021, unless otherwise noted</u>*** |  ***<u>Information is as of December 31, 2021, unless otherwise noted</u>*** |  ***<u>Information is as of December 31, 2021, unless otherwise noted</u>*** |  ***<u>Information is as of December 31, 2021, unless otherwise noted</u>*** |
| VP – Aggressive Portfolio<br> VP – Conservative Portfolio<br> VP – Moderate Portfolio<br> VP – Moderately Aggressive Portfolio<br> VP – Moderately Conservative Portfolio | Dan Boncarosky<sup>(i)</sup> | 7 RICs<br> 3 PIVs<br> 60 other accounts | $5.16 billion<br> $0.19 million<br> $127.95 million |  | Columbia Management - FoF | Columbia Management |

---

\* RIC refers to a Registered Investment Company; PIV refers to a Pooled Investment Vehicle.

\*\* Number and type of accounts for which the advisory fee paid is based in part or wholly on performance and the aggregate net assets in those accounts.

(i) The portfolio manager began managing the Fund after its last fiscal year end; reporting information is provided as of January 31, 2023.

*The rest of the section remains the same.*

*Shareholders should retain this Supplement for future reference.*

SUP7041-0001_(02/23)