# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0001398344-26-000620
**Filing Date:** 2026-1
**Character Count:** 18580
**Document Hash:** 2484a4d95448fe2a8bc9b7b72d953564
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-26-000620.hdr.sgml**: 20260113

**ACCESSION NUMBER**: 0001398344-26-000620

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260113

**DATE AS OF CHANGE**: 20260113

**EFFECTIVENESS DATE**: 20260113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund II
- **CENTRAL INDEX KEY:** 0000890540

**ORGANIZATION NAME:**
- **EIN:** 233040006
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-50718
- **FILM NUMBER:** 26530033

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** 6106761000

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Advisors Inner Circle Fund II
- **DATE OF NAME CHANGE:** 20041029

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARBOR FUND
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Mango Growth ETF (Series ID: S000098510)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000268188 | Mango Growth ETF | GARY            |

**SUMMARY PROSPECTUS** 

**December 17, 2025** 

**The Advisors' Inner Circle Fund II** 

**Mango Growth ETF** 

Ticker Symbol: GARY

Principal Listing Exchange: The NASDAQ Stock Market LLC (the "Exchange")

**INVESTMENT ADVISER:** 

**KKM FINANCIAL LLC** 

**INVESTMENT SUB-ADVISER:** 

**SAVOIE CAPITAL LLC** 

**Before you invest, you may want to review the Fund's complete prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus and other information about the Fund online at www.mangogrowthetf.com. You can also get this information at no cost by calling 1-800-451-5493, by sending an e-mail request to info@kkmfinancial.com, or by asking any financial intermediary that offers shares of the Fund. The Fund's prospectus and statement of additional information, both dated December 17, 2025, as they may be amended from time to time, are incorporated by reference into this summary prospectus and may be obtained, free of charge, at the website, phone number or e-mail address noted above.**

**Mango Growth ETF** 

**Investment Objective** 

The Mango Growth ETF (the "Fund") is an actively managed Exchange Traded Fund ("ETF") that seeks long-term capital appreciation.

**Fees and Expenses** 

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may be required to pay commissions and/or other forms of compensation to a broker, which are not reflected in the table or the example below.** 

**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;Management Fees<sup>(1)</sup>  | 0.75% |
| &nbsp;&nbsp;Other Expenses<sup>(2)</sup> | 0.00% |
| &nbsp;&nbsp;Acquired Fund Fees and Expenses ("AFFE")<sup>(2)</sup> | 0.02% |
| &nbsp;&nbsp;Total Annual Fund Operating Expenses | 0.77% |

---

<sup>(1)</sup> The Fund's management fee is a "unitary" fee designed to pay the Fund's expenses and to compensate KKM Financial LLC, the Fund's investment adviser (the "Adviser"), for the services the Adviser provides to the Fund. Out of the unitary management fee, the Adviser will pay all of the Fund's expenses, except for the following: advisory fees, interest, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, AFFE, accrued deferred tax liability, non-routine expenses, distribution fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended (the "1940 Act"), litigation expenses, and other non-routine or extraordinary expenses. 

<sup>(2)</sup> Other Expenses and AFFE are based on estimated amounts for the current fiscal year. 

**Example** 

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain at current levels. This example does not include the brokerage commissions that investors may pay to buy and sell

shares. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | |
|:---|:---|
| **1 Year** | **3 Years** |
| $79 | $246 |

---

**Portfolio Turnover** 

The Fund pays transaction costs, such as brokerage commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in total annual Fund operating expenses or in the Example, affect the Fund's performance. Because the Fund has not commenced investment operations as of the date of this prospectus, it does not have portfolio turnover information to report.

**Principal Investment Strategies** 

The Fund is an actively managed exchange-traded Fund ("ETF"). The Fund seeks long-term capital appreciation by investing primarily in the common stock of companies that the Fund believes have high growth characteristics. The Fund considers a company to have high growth characteristics if it demonstrates consistently strong year-over-year growth across multiple fundamental and market-based metrics. These may include, but are not limited to, sustained increases in sales, earnings, and cash flows, as well as positive share price trends over a specified evaluation period.

The Adviser is responsible for making the day-to-day investment decisions for the Fund. The Fund constructs its portfolio by utilizing a "quantamental" investment methodology developed by Savoie Capital LLC, the Fund's investment sub-adviser (the "Sub-Adviser"). The Sub-Adviser's quantamental methodology seeks to identify long term secular and thematic companies with high growth characteristics and strong earnings power using a combination of quantitative analysis and traditional fundamental research. The Sub-Adviser uses quantitative models to identify and rank a broad universe of companies based on momentum, valuation, sentiment, investor positioning, and technical analysis. The highest-ranked candidates are then subjected to in-depth fundamental analysis to evaluate factors including competitive position in the marketplace, product and/or service offered, valuation, management team

experience and expertise. This integrated process is designed to construct a portfolio of companies with strong and sustainable growth prospects.

While the Fund may invest in companies of any size, it generally emphasizes large-capitalization companies that meet its growth criteria, though it may also invest in mid-capitalization and small-capitalization companies when compelling growth opportunities exist.

The Fund typically maintains a long-term investment horizon, holding securities to allow growth to materialize, but may sell positions when momentum, valuation, sentiment, and technical factors fail to meet the model criteria or there is a breakdown in the investment thesis.

The Fund is classified as "non-diversified," which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.

**Principal Risks** 

As with all funds, there is no guarantee that the Fund will achieve its investment objective. You could lose money by investing in the Fund. **A Fund share is not a bank deposit and is not insured or guaranteed by the FDIC, or any government agency.** The principal risk factors affecting shareholders' investments in the Fund are set forth below.

**Equity Risk** – Since it purchases equity securities, the Fund is subject to the risk that stock prices may fall over short or extended periods of time. Historically, the equity market has moved in cycles, and the value of the Fund's securities may fluctuate from day to day. Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments. The prices of securities issued by such companies may suffer a decline in response. These factors contribute to price volatility, which is the principal risk of investing in the Fund.

**Market Risk** – The prices of and the income generated by the Fund's securities may decline in response to, among other things, investor sentiment, general economic and market conditions, regional or global instability, and currency and interest rate fluctuations. A variety of factors can lead to volatility in local, regional, or global markets, including regulatory events, inflation, interest rates, government defaults, government shutdowns, war, regional conflicts, acts of terrorism, social unrest, the imposition of tariffs, trade disputes, and substantial economic downturn or recessions. In addition, the

impact of any epidemic, pandemic or natural disaster, or widespread fear that such events may occur, could negatively affect the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Fund invests, which in turn could negatively impact the Fund's performance and cause losses on your investment in the Fund. Market risk may affect a single issuer, an industry, a sector or the equity or bond market as a whole.

**ETF Risks** – The Fund is an ETF and, as a result of this structure, it is exposed to the following risks:

● **Trading Risk** – Shares of the Fund may trade on the Exchange above (premium) or below (discount) their net asset value ("NAV"). In stressed market conditions, the market for Fund shares may become less liquid in response to deteriorating liquidity in the markets for the Fund's underlying portfolio holdings, which may increase the variance between the market price of the Fund shares and the value of its underlying holdings. In addition, although the Fund's shares are currently listed on the Exchange, there can be no assurance that an active trading market for Fund shares will develop or be maintained. Trading in Fund shares may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in shares of the Fund inadvisable.

● **Limited Authorized Participants, Market Makers and Liquidity Providers Risk** – Because the Fund is an ETF, only a limited number of institutional investors (known as "Authorized Participants") are authorized to purchase and redeem shares directly from the Fund. Retail investors cannot transact directly with the Fund. In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace to transact in Fund shares. As a result of these and other considerations, Fund shares may trade at a material discount to its NAV. In addition, the Fund may face possible delisting if: (i) Authorized Participants exit the business or otherwise become unable to process creation and/or redemption orders and no other Authorized Participants step forward to perform these services, or (ii) market makers and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform their functions.

**Growth Investment Style Risk** – The Fund pursues a "growth style" of investing, meaning that the Fund invests in equity securities of companies that the Adviser believes will have above-average rates of relative earnings growth and which, therefore, may experience above-average increases in stock prices. Over time, a relative growth investing style may go in and out of favor, causing the Fund to sometimes underperform other equity funds that use differing investing styles.

**Active Management Risk** – The Fund is subject to the risk that the Adviser's judgments about the attractiveness, value, or potential appreciation of the Fund's investments may prove to be incorrect. If the investments selected and strategies employed by the Fund fail to produce the intended results, the Fund could underperform in comparison to other funds with similar objectives and investment strategies.

**Large Capitalization Company Risk** – The large capitalization companies in which the Fund may invest may lag the performance of smaller capitalization companies because large capitalization companies may experience slower rates of growth than smaller capitalization companies and may not respond as quickly to market changes and opportunities.

**Small- and Mid-Capitalization Company Risk** – The small- and mid-capitalization companies in which the Fund may invest may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, investments in these small- and mid-sized companies may pose additional risks, including liquidity risk, because these companies tend to have limited product lines, markets and financial resources, and may depend upon a relatively small management group. Therefore, small- and mid-cap stocks may be more volatile than those of larger companies. These securities may be traded over-the-counter or listed on an exchange.

**Non-Diversification Risk** – The Fund is non-diversified, meaning that it may invest a large percentage of its assets in a single issuer or a relatively small number of issuers. Because the Fund is non-diversified, it may be more susceptible to a single adverse economic or political occurrence affecting one or more of the issuers, and may experience increased volatility due to its investments in those securities. However, the Fund intends to satisfy the diversification requirements for classification as a regulated investment company (a "RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code").

**New Fund Risk** – Because the Fund is new, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy, may not employ a successful investment strategy, or may fail to attract sufficient assets under management to realize economies of scale, any of which could result in the Fund being liquidated at any time without shareholder approval and at a time that may not be favorable for all shareholders. Such liquidation could have negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation.

**Performance Information** 

The Fund is new, and therefore has no performance history. Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by showing the variability of the Fund's returns and comparing the Fund's performance to a broad measure of market performance. Of course, the Fund's past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.

Current performance information is available online at mangogrowthetf.com or by calling toll-free at 1-800-451-5493.

**Investment Adviser and Sub-Adviser** 

KKM Financial LLC serves as the Fund's investment adviser. Savoie Capital LLC serves as the Fund's investment sub-adviser.

**Portfolio Managers** 

**KKM Financial LLC** 

Jeff Kilburg, Co-Founder and Chief Executive Officer of the Adviser, has managed the Fund since its inception in 2025.

Daniel Deming, Co-Founder, Managing Partner of the Adviser, has managed the Fund since its inception in 2025.

**Savoie Capital LLC** 

Paul Savoie, Owner and Chief Investment Officer of the Sub-Adviser, has managed the Fund since its inception in 2025.

John Hurford, Chief Investment Strategist of the Sub-Adviser, has managed the Fund since its inception in 2025.

**Purchase and Sale of Fund Shares** 

The Fund issues shares to (or redeems shares from) certain institutional investors known as "Authorized Participants" (typically market makers or other broker-dealers) only in large blocks of at least 10,000 shares known as "Creation Units." Creation Unit transactions are conducted in exchange for the deposit or delivery of a portfolio of in-kind securities designated by the Fund and/or cash.

Individual shares of the Fund may only be purchased and sold on the Exchange, other national securities exchanges, electronic crossing networks and other alternative trading systems through a broker-dealer at market prices. Because Fund shares trade at market prices rather than at NAV, Fund shares may trade at a price greater than NAV (premium) or less than NAV (discount). When buying or selling shares in the secondary market, you may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase shares of the Fund (bid) and the lowest price a seller is willing to accept for shares of the Fund (ask) (the "bid-ask spread"). Recent information regarding the Fund's NAV, market price, premiums and discounts, and bid-ask spreads is available at mangogrowthetf.com.

**Tax Information** 

The Fund intends to make distributions that may be taxed as qualified dividend income, ordinary income or capital gains if you are not investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account ("IRA"), in which case your distribution will be taxed when withdrawn from the tax-deferred account.

**Payments to Broker-Dealers and Other Financial Intermediaries** 

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

KKM-SM-001-0100