0001352280 cfstii:S000036208Member 2025-05-31 2025-05-31 0001352280 2025-05-31 2025-05-31 false 2025-05-31 497 0001352280 N-1A <div style="line-height:10.0pt;text-align:center;"><span style="color:#003c78;font-family:arial;font-size:10pt;font-weight:bold">Supplement dated June 25, 2026</span></div><div style="margin-top:4pt;"><span style="color:#003c78;font-family:arial;font-size:10pt">to the Prospectus and Summary Prospectus of the following fund (the Fund):</span><span style="color:#003c78;float:left;font-family:arial;font-size:1pt;line-height:1pt"> </span></div> <table cellpadding="0" cellspacing="0" style="empty-cells:show;width:516pt"> <tr style="height:14pt"> <td style="background-color:#003C78;border-bottom:2pt solid #FFFFFF;padding-bottom:3pt;padding-top:3pt;vertical-align:Bottom;width:339.64pt;"> <div style="line-height:10pt;text-align:left;"> <div style="margin-left:6pt;margin-right:6pt;margin-top:1pt;text-align:left;white-space:nowrap;"><span style="color:#ffffff;font-family:arial;font-size:8pt;font-weight:bold;margin-left:0.0pt">Fund</span></div> </div> </td> <td style="background-color:#003C78;border-bottom:2pt solid #FFFFFF;padding-bottom:3pt;padding-top:3pt;vertical-align:Bottom;width:176.36pt;"> <div style="line-height:10pt;text-align:left;"> <div style="margin-left:6pt;margin-right:12pt;margin-top:1pt;text-align:center;white-space:nowrap;"><span style="color:#ffffff;font-family:arial;font-size:8pt;font-weight:bold">Prospectus and Summary Prospectus Dated</span></div> </div> </td> </tr> <tr style="height:15pt"> <td style="background-color:#D9E5F1;border-bottom:2pt solid #FFFFFF;padding-bottom:3pt;padding-top:3pt;vertical-align:Bottom;width:339.64pt;"> <div style="line-height:10pt;text-align:left;"> <div style="margin-left:6pt;margin-right:6pt;text-align:left;white-space:nowrap;"><span style="color:#003c78;font-family:arial;font-size:8pt;margin-left:0.0pt">Columbia Funds Series Trust II</span></div> </div> </td> <td style="background-color:#D9E5F1;border-bottom:2pt solid #FFFFFF;padding-bottom:3pt;padding-top:3pt;vertical-align:Bottom;width:176.36pt;"> <div style="line-height:0.5pt;text-align:left;"> <div style="margin-left:6pt;margin-right:12pt;text-align:center;white-space:nowrap;"><span style="color:#003c78;font-family:arial;font-size:8pt;margin-left:-85.18pt"> </span></div> </div> </td> </tr> <tr style="height:11pt"> <td style="background-color:#D9E5F1;padding-bottom:2pt;padding-top:3pt;vertical-align:Bottom;width:339.64pt;"> <div style="line-height:9pt;text-align:left;"> <div style="margin-left:6pt;margin-right:6pt;text-align:left;white-space:nowrap;"><span style="color:#003c78;font-family:arial;font-size:8pt;margin-left:0.0pt"> Multi-Manager Value Strategies Fund</span></div> </div> </td> <td style="background-color:#D9E5F1;padding-bottom:2pt;padding-top:3pt;vertical-align:Bottom;width:176.36pt;"> <div style="line-height:9pt;text-align:left;"> <div style="margin-left:6pt;margin-right:12pt;text-align:center;white-space:nowrap;"><span style="color:#003c78;font-family:arial;font-size:8pt;margin-left:0.00pt">10/1/2025</span></div> </div> </td> </tr> </table><div style="margin-top:12pt;"><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">Effective June 25, 2026 </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">(the Effective Date), </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">Diamond Hill Capital Management, Inc. (Diamond Hill)</span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic"> no longer manages </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">a portion of the Fund. Accordingly, as of the Effective Date, the changes described in this Supplement are hereby made </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">to the Fund’s Prospectus and Summary Prospectus.</span></div><div style="margin-top:12pt;"><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">The fourth and fifth paragraph under </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">the heading “Principal Investment Strategies” in the Summary Prospectus and in </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">the </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">“</span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">Summary of the Fund” section of the Prospectus are hereby superseded and replaced with the following:</span></div><div style="margin-top:4pt;"><span style="color:#003c78;font-family:arial;font-size:10pt">The Fund may also invest in exchange-traded funds (ETFs), including pending the engagement of one or more </span><span style="color:#003c78;font-family:arial;font-size:10pt">additional subadvisers.</span></div><div style="margin-top:4pt;"><span style="color:#003c78;font-family:arial;font-size:10pt">Columbia Management Investment Advisers, LLC (Columbia Management or the Investment Manager) serves as the </span><span style="color:#003c78;font-family:arial;font-size:10pt">investment manager for the Fund and attempts to achieve the Fund’s objective by managing a portion of the Fund’s </span><span style="color:#003c78;font-family:arial;font-size:10pt">assets and selecting one or more subadvisers to manage other portions of the Fund’s assets independently of each </span><span style="color:#003c78;font-family:arial;font-size:10pt">other and Columbia Management.</span><span style="color:#003c78;font-family:arial;font-size:10pt;line-height:10pt"> </span><span style="color:#003c78;font-family:arial;font-size:10pt">The Fund’s subadviser is American Century Investment Management, Inc. </span><span style="color:#003c78;font-family:arial;font-size:10pt">(American Century).</span><span style="color:#003c78;font-family:arial;font-size:10pt;line-height:10pt"> </span></div> <div style="line-height:10.0pt;text-align:center;"><span style="color:#003c78;font-family:arial;font-size:10pt;font-weight:bold">Supplement dated June 25, 2026</span></div><div style="margin-top:4pt;"><span style="color:#003c78;font-family:arial;font-size:10pt">to the Prospectus and Summary Prospectus of the following fund (the Fund):</span><span style="color:#003c78;float:left;font-family:arial;font-size:1pt;line-height:1pt"> </span></div> <table cellpadding="0" cellspacing="0" style="empty-cells:show;width:516pt"> <tr style="height:14pt"> <td style="background-color:#003C78;border-bottom:2pt solid #FFFFFF;padding-bottom:3pt;padding-top:3pt;vertical-align:Bottom;width:339.64pt;"> <div style="line-height:10pt;text-align:left;"> <div style="margin-left:6pt;margin-right:6pt;margin-top:1pt;text-align:left;white-space:nowrap;"><span style="color:#ffffff;font-family:arial;font-size:8pt;font-weight:bold;margin-left:0.0pt">Fund</span></div> </div> </td> <td style="background-color:#003C78;border-bottom:2pt solid #FFFFFF;padding-bottom:3pt;padding-top:3pt;vertical-align:Bottom;width:176.36pt;"> <div style="line-height:10pt;text-align:left;"> <div style="margin-left:6pt;margin-right:12pt;margin-top:1pt;text-align:center;white-space:nowrap;"><span style="color:#ffffff;font-family:arial;font-size:8pt;font-weight:bold">Prospectus and Summary Prospectus Dated</span></div> </div> </td> </tr> <tr style="height:15pt"> <td style="background-color:#D9E5F1;border-bottom:2pt solid #FFFFFF;padding-bottom:3pt;padding-top:3pt;vertical-align:Bottom;width:339.64pt;"> <div style="line-height:10pt;text-align:left;"> <div style="margin-left:6pt;margin-right:6pt;text-align:left;white-space:nowrap;"><span style="color:#003c78;font-family:arial;font-size:8pt;margin-left:0.0pt">Columbia Funds Series Trust II</span></div> </div> </td> <td style="background-color:#D9E5F1;border-bottom:2pt solid #FFFFFF;padding-bottom:3pt;padding-top:3pt;vertical-align:Bottom;width:176.36pt;"> <div style="line-height:0.5pt;text-align:left;"> <div style="margin-left:6pt;margin-right:12pt;text-align:center;white-space:nowrap;"><span style="color:#003c78;font-family:arial;font-size:8pt;margin-left:-85.18pt"> </span></div> </div> </td> </tr> <tr style="height:11pt"> <td style="background-color:#D9E5F1;padding-bottom:2pt;padding-top:3pt;vertical-align:Bottom;width:339.64pt;"> <div style="line-height:9pt;text-align:left;"> <div style="margin-left:6pt;margin-right:6pt;text-align:left;white-space:nowrap;"><span style="color:#003c78;font-family:arial;font-size:8pt;margin-left:0.0pt"> Multi-Manager Value Strategies Fund</span></div> </div> </td> <td style="background-color:#D9E5F1;padding-bottom:2pt;padding-top:3pt;vertical-align:Bottom;width:176.36pt;"> <div style="line-height:9pt;text-align:left;"> <div style="margin-left:6pt;margin-right:12pt;text-align:center;white-space:nowrap;"><span style="color:#003c78;font-family:arial;font-size:8pt;margin-left:0.00pt">10/1/2025</span></div> </div> </td> </tr> </table><div style="margin-top:12pt;"><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">Effective June 25, 2026 </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">(the Effective Date), </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">Diamond Hill Capital Management, Inc. (Diamond Hill)</span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic"> no longer manages </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">a portion of the Fund. Accordingly, as of the Effective Date, the changes described in this Supplement are hereby made </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">to the Fund’s Prospectus and Summary Prospectus.</span></div><div style="margin-top:12pt;"><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">The fourth and fifth paragraph under </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">the heading “Principal Investment Strategies” in the Summary Prospectus and in </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">the </span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">“</span><span style="color:#003c78;font-family:arial;font-size:10pt;font-style:italic">Summary of the Fund” section of the Prospectus are hereby superseded and replaced with the following:</span></div><div style="margin-top:4pt;"><span style="color:#003c78;font-family:arial;font-size:10pt">The Fund may also invest in exchange-traded funds (ETFs), including pending the engagement of one or more </span><span style="color:#003c78;font-family:arial;font-size:10pt">additional subadvisers.</span></div><div style="margin-top:4pt;"><span style="color:#003c78;font-family:arial;font-size:10pt">Columbia Management Investment Advisers, LLC (Columbia Management or the Investment Manager) serves as the </span><span style="color:#003c78;font-family:arial;font-size:10pt">investment manager for the Fund and attempts to achieve the Fund’s objective by managing a portion of the Fund’s </span><span style="color:#003c78;font-family:arial;font-size:10pt">assets and selecting one or more subadvisers to manage other portions of the Fund’s assets independently of each </span><span style="color:#003c78;font-family:arial;font-size:10pt">other and Columbia Management.</span><span style="color:#003c78;font-family:arial;font-size:10pt;line-height:10pt"> </span><span style="color:#003c78;font-family:arial;font-size:10pt">The Fund’s subadviser is American Century Investment Management, Inc. </span><span style="color:#003c78;font-family:arial;font-size:10pt">(American Century).</span><span style="color:#003c78;font-family:arial;font-size:10pt;line-height:10pt"> </span></div> Columbia Funds Series Trust II 2025-10-01