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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LrPKJ6yxZv+3BERgHqKXKownA1v1LQvSzM8BTkTQT2l2JHWhbi0gal1t/onq+rmc
 J/LVsGPygP3pUXuAul/06w==

<SEC-DOCUMENT>0001269194-10-000003.txt : 20100325
<SEC-HEADER>0001269194-10-000003.hdr.sgml : 20100325
<ACCEPTANCE-DATETIME>20100325134054
ACCESSION NUMBER:		0001269194-10-000003
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100325
DATE AS OF CHANGE:		20100325
EFFECTIVENESS DATE:		20100325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAHAM GLOBAL INVESTMENT FUND II LTD
		CENTRAL INDEX KEY:			0001269194
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-60022
		FILM NUMBER:		10704101

	BUSINESS ADDRESS:	
		STREET 1:		C/O BLENHEIM CORPORATE SERVICES LIMITED
		STREET 2:		125 MAIN STREET PO BOX 144
		CITY:			ROAD TOWN
		STATE:			D8
		ZIP:			VG1110
		BUSINESS PHONE:		2038993400

	MAIL ADDRESS:	
		STREET 1:		C/O GRAHAM CAPITAL MANAGEMENT LP
		STREET 2:		40 HIGHLAND AVENUE
		CITY:			ROWAYTON
		STATE:			CT
		ZIP:			06853
</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>0001269194</cik>
        <entityName>GRAHAM GLOBAL INVESTMENT FUND II LTD</entityName>
        <issuerAddress>
            <street1>C/O BLENHEIM CORPORATE SERVICES LIMITED</street1>
            <street2>125 MAIN STREET PO BOX 144</street2>
            <city>ROAD TOWN</city>
            <stateOrCountry>D8</stateOrCountry>
            <zipCode>VG1110</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>2038993400</issuerPhoneNumber>
        <jurisdictionOfInc>VIRGIN ISLANDS, BRITISH</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>BVI BUSINESS COMPANY</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>GRAHAM</firstName>
                <middleName>CAPITAL</middleName>
                <lastName>MANAGEMENT LP</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>40 HIGHLAND AVENUE</street1>
                <city>ROWAYTON</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06853</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>MICHAEL</firstName>
                <lastName>HAMMOND</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>40 HIGHLAND AVENUE</street1>
                <city>ROWAYTON</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06853</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>PATRICK</firstName>
                <lastName>HARRIGAN</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>40 HIGHLAND AVENUE</street1>
                <city>ROWAYTON</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06853</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>KENNETH</firstName>
                <lastName>TROPIN</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>40 HIGHLAND AVENUE</street1>
                <city>ROWAYTON</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06853</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Over $100,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-015914</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2001-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>3000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>6762844753</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>841</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>PURSUANT TO ITS CONSTITUENT DOCUMENTS AND SERVICE AGREEMENTS, THE ISSUER PAYS ONGOING ADVISORY FEES AND TRANSACTION FEES CALCULATED AS A PERCENTAGE OF NET ASSETS AND FIXED FEES FOR CERTAIN OF ITS DIRECTORS</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>GRAHAM GLOBAL INVESTMENT FUND II LTD</issuerName>
                <signatureName>TIMOTHY SPERRY</signatureName>
                <nameOfSigner>TIMOTHY SPERRY</nameOfSigner>
                <signatureTitle>ASSISTANT SECRETARY</signatureTitle>
                <signatureDate>2010-03-25</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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