-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001227268-09-000012.txt : 20091014
<SEC-HEADER>0001227268-09-000012.hdr.sgml : 20091014
<ACCEPTANCE-DATETIME>20091014163652
ACCESSION NUMBER:		0001227268-09-000012
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20091014
DATE AS OF CHANGE:		20091014
EFFECTIVENESS DATE:		20091014

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AAA CAPITAL ENERGY FUND L.P. II
		CENTRAL INDEX KEY:			0001227268
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				030407557
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-68406
		FILM NUMBER:		091119482

	BUSINESS ADDRESS:	
		STREET 1:		55 EAST 59TH STREET
		STREET 2:		10TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013
		BUSINESS PHONE:		212-559-2011

	MAIL ADDRESS:	
		STREET 1:		55 EAST 59TH STREET
		STREET 2:		10TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITIGROUP AAA ENERGY FUND L.P. II
		DATE OF NAME CHANGE:	20090625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITIGROUP AAA ENERGY FUND II LP
		DATE OF NAME CHANGE:	20080902

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SALOMON SMITH BARNEY AAA ENERGY FUND II LP
		DATE OF NAME CHANGE:	20030414
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001227268</cik>
        <entityName>AAA CAPITAL ENERGY FUND L.P. II</entityName>
        <issuerAddress>
            <street1>C/O CERES MANAGED FUTURES LLC</street1>
            <street2>55 EAST 59TH STREET10TH FL</street2>
            <city>NEW YORK</city>
            <stateOrCountry>NY</stateOrCountry>
            <zipCode>10013</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-559-2011</issuerPhoneNumber>
        <jurisdictionOfInc>NEW YORK</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>CITIGROUP AAA ENERGY FUND L.P. II</previousName>
            <previousName>CITIGROUP AAA ENERGY FUND II LP</previousName>
            <previousName>SALOMON SMITH BARNEY AAA ENERGY FUND II LP</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jennifer</firstName>
                <lastName>Magro</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>55 East 59th Street, 10th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Financial Officer, Vice-President (&quot;VP&quot;) and Director of
Ceres Managed Futures LLC, the General Partner (&quot;General
Partner&quot;)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Daryl</firstName>
                <lastName>Dewbrey</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>55 East 59th Street, 10th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Shelley</firstName>
                <middleName>Deavitt</middleName>
                <lastName>Ullman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>55 East 59th Street, 10th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Senior VP and Director of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jerry</firstName>
                <lastName>Pascucci</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>55 East 59th Street, 10th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President, Chief Investment Officer and Director of the General
Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Raymond</firstName>
                <lastName>Nolte</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>55 East 59th Street, 10th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the General Partner</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001227268-09-000009</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2002-07-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Citigroup Global Markets Inc. (&quot;CGM&quot;)</recipientName>
                <recipientCRDNumber>7059</recipientCRDNumber>
                <associatedBDName>Citigroup Global Markets Inc.</associatedBDName>
                <associatedBDCRDNumber>7059</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>390 Greenwich Street</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10013</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Morgan Stanley Smith Barney LLC (&quot;MSSB&quot;)</recipientName>
                <recipientCRDNumber>149777</recipientCRDNumber>
                <associatedBDName>Morgan Stanley Smith Barney LLC</associatedBDName>
                <associatedBDCRDNumber>149777</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2000 WESTCHESTER AVENUE</street1>
                    <city>Purchase</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10577-2530</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Richard S. Zinman</recipientName>
                <recipientCRDNumber>1212093</recipientCRDNumber>
                <associatedBDName>CREDIT SUISSE SECURITIES (USA) LLC (&quot;CS&quot;)</associatedBDName>
                <associatedBDCRDNumber>816</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>12 EAST 49TH STREET</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10017</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <state>AK</state>
                    <state>AZ</state>
                    <state>AR</state>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>GA</state>
                    <state>HI</state>
                    <state>ID</state>
                    <state>IL</state>
                    <state>IN</state>
                    <state>IA</state>
                    <state>KS</state>
                    <state>KY</state>
                    <state>LA</state>
                    <state>ME</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MN</state>
                    <state>MS</state>
                    <state>MO</state>
                    <state>MT</state>
                    <state>NE</state>
                    <state>NV</state>
                    <state>NH</state>
                    <state>NJ</state>
                    <state>NM</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>ND</state>
                    <state>OH</state>
                    <state>OK</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>RI</state>
                    <state>SC</state>
                    <state>SD</state>
                    <state>TN</state>
                    <state>TX</state>
                    <state>UT</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                    <state>WV</state>
                    <state>WI</state>
                    <state>WY</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>ANTHONY A. DERTOUZOS</recipientName>
                <recipientCRDNumber>4025638</recipientCRDNumber>
                <associatedBDName>CREDIT SUISSE SECURITIES (USA) LLC</associatedBDName>
                <associatedBDCRDNumber>816</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>12 EAST 49TH STREET</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10017</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <state>AK</state>
                    <state>AZ</state>
                    <state>AR</state>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>GA</state>
                    <state>HI</state>
                    <state>ID</state>
                    <state>IL</state>
                    <state>IN</state>
                    <state>IA</state>
                    <state>KS</state>
                    <state>KY</state>
                    <state>LA</state>
                    <state>ME</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MN</state>
                    <state>MS</state>
                    <state>MO</state>
                    <state>MT</state>
                    <state>NE</state>
                    <state>NV</state>
                    <state>NH</state>
                    <state>NJ</state>
                    <state>NM</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>ND</state>
                    <state>OH</state>
                    <state>OK</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>RI</state>
                    <state>SC</state>
                    <state>SD</state>
                    <state>TN</state>
                    <state>TX</state>
                    <state>UT</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                    <state>WV</state>
                    <state>WI</state>
                    <state>WY</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>JOHN D. MORENO</recipientName>
                <recipientCRDNumber>5111456</recipientCRDNumber>
                <associatedBDName>CREDIT SUISSE SECURITIES (USA) LLC</associatedBDName>
                <associatedBDCRDNumber>816</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>12 EAST 49TH STREET</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10017</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <state>AK</state>
                    <state>AZ</state>
                    <state>AR</state>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>GA</state>
                    <state>HI</state>
                    <state>ID</state>
                    <state>IL</state>
                    <state>IN</state>
                    <state>IA</state>
                    <state>KS</state>
                    <state>KY</state>
                    <state>LA</state>
                    <state>ME</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MN</state>
                    <state>MS</state>
                    <state>MO</state>
                    <state>MT</state>
                    <state>NE</state>
                    <state>NV</state>
                    <state>NH</state>
                    <state>NJ</state>
                    <state>NM</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>ND</state>
                    <state>OH</state>
                    <state>OK</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>RI</state>
                    <state>SC</state>
                    <state>SD</state>
                    <state>TN</state>
                    <state>TX</state>
                    <state>UT</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                    <state>WV</state>
                    <state>WI</state>
                    <state>WY</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>276720547</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>2360</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>CGM may pay a portion of its commodity brokerage fees to its qualified registered representatives or those of other qualified firms, including MSSB and CS, who provide ongoing services to investors.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>AAA CAPITAL ENERGY FUND L.P. II</issuerName>
                <signatureName>Jennifer Magro</signatureName>
                <nameOfSigner>Jennifer Magro</nameOfSigner>
                <signatureTitle>See the Title in the Clarification Box in Item #3 Above</signatureTitle>
                <signatureDate>2009-10-14</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----