<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-10-08</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001461237</issuerCik>
        <issuerName>GRAHAM ALTERNATIVE INVESTMENT FUND II LLC</issuerName>
        <issuerTradingSymbol>n/a</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001769424</rptOwnerCik>
            <rptOwnerName>Medeiros James Anthony Jr</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>40 HIGHLAND AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ROWAYTON</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06853</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO, Graham Capital Management</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>Effective October 8, 2021, James Medeiros resigned as CEO of Graham Capital Management, L.P.</remarks>

    <ownerSignature>
        <signatureName>James Medeiros</signatureName>
        <signatureDate>2021-10-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
