Vehicle file · Interval / non-traded fund

SL Investment Fund II LLC

What its SEC filings show.

SEC CIK 2028686·Inc. DE·Fiscal year end 12/31·Data as filed · pulled Oct 12, 2026

What this file is.Not a review. Every figure below is the issuer's own number as tagged in its filings to the SEC, unadjusted, with a link to the filing it came from. When a new filing lands, the table updates; when a filing changes something for the people who hold this vehicle, we write it up and link it under Our reads.

SL Investment Fund II LLC is a non-traded interval fund registered with the SEC under CIK 2028686 (incorporated in DE). Its most recent filing is an 8-K (current report) dated Oct 2, 2026. As of Jun 30, 2026 it reported total assets of $757.6M (up 77.7% from $426.3M a year earlier) and stockholders' equity of $359.3M. Net income (loss) for the six months to Jun 30, 2026 was $11.3M. It raised $104.0M from new shares in the six months to Jun 30, 2026; paid $15.3M in distributions in the six months to Jun 30, 2026. Reported NAV per share: $19.75 as of Jun 30, 2026.

What the figures say together

Our arithmetic on the issuer's own figures, only pairing numbers from the same period or date, and ranked against the 43 other vehicles of this type we track.

Liabilities were 53% of total assets at Jun 30, 2026.
The management fee ran at about 0.23% a year of stockholders' equity ($416K in the six months to Jun 30, 2026, annualised; our arithmetic).
NAV per share moved down 2.0% in a year, from $20.15 to $19.75 (before distributions).

Key figures, as filed.

Balance sheet

Figure	Latest	Period	A year earlier	Change	Source
Total assets	$757.6M	as of Jun 30, 2026	$426.3M	+77.7%	10-Q · Aug 12, 2026
Investments at fair value	$729.0M	as of Jun 30, 2026	$406.9M	+79.2%	10-Q · Aug 12, 2026
Cash and equivalents	$20.8M	as of Jun 30, 2026	$14.8M	+40.4%	10-Q · Aug 12, 2026
Total liabilities	$398.3M	as of Jun 30, 2026	$171.0M	+132.9%	10-Q · Aug 12, 2026
Long-term debt	$385.5M	as of Jun 30, 2026	$163.5M	+135.8%	10-Q · Aug 12, 2026
Stockholders' equity	$359.3M	as of Jun 30, 2026	$255.3M	+40.7%	10-Q · Aug 12, 2026
NAV per share	$19.75	as of Jun 30, 2026	$20.15	−2.0%	10-Q · Aug 12, 2026
Shares outstanding	18.1M shares	as of Jun 30, 2026	12.6M shares	+43.8%	10-Q · Aug 12, 2026
Shares outstanding (cover page)	19.6M shares	as of Aug 12, 2026	12.6M shares	+55.7%	10-Q · Aug 12, 2026

Results and cash flow

Figure	Latest	Period	A year earlier	Change	Source
Net income (loss)	$11.3M	six months to Jun 30, 2026	$11.8M	−4.2%	10-Q · Aug 12, 2026
Cash from operations	−$138.6M	six months to Jun 30, 2026	−$114.2M	−21.4%	10-Q · Aug 12, 2026
Interest expense	$10.5M	six months to Jun 30, 2026	$4.4M	+138.9%	10-Q · Aug 12, 2026
Management fees	$416K	six months to Jun 30, 2026	$312K	+33.3%	10-Q · Aug 12, 2026

Capital raised, distributions and repurchases

Figure	Latest	Period	A year earlier	Change	Source
Capital raised (common stock issued)	$104.0M	six months to Jun 30, 2026	$0	—	10-Q · Aug 12, 2026
Distributions paid	$15.3M	six months to Jun 30, 2026	$10.4M	+47.4%	10-Q · Aug 12, 2026
Distributions declared per share	$1.03	six months to Jun 30, 2026	$0.91	+13.2%	10-Q · Aug 12, 2026

Flows (revenues, income, cash, distributions, repurchases) are shown for the period the issuer reported them in, which may be a quarter, a year-to-date span or a full year; “a year earlier” compares only periods of the same length. A vehicle that does not tag a figure in XBRL will not show it here even if the PDF discloses it.

If you have real money in this, do not decide it alone.

We can tell you what the filings say. What we cannot tell you is what it means for your particular position, your tax situation and the rest of your portfolio, and anyone who does that from a web page without knowing your circumstances is guessing. With money in an interval fund that only buys back shares in limited quarterly windows, that is the part that actually matters.

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Filing timeline.

The last 25 documents this issuer filed with the SEC. Marked rows are the ones that tend to matter to holders.

Oct 2, 20268-K · Current reportItems 1.01,2.03,9.01EDGAR ↗
Sep 29, 20268-K · Current reportItems 5.02EDGAR ↗
Aug 12, 202610-Q · Quarterly reportEDGAR ↗
Jul 29, 20268-K · Current reportItems 3.02EDGAR ↗
May 29, 202610-Q/A · FilingEDGAR ↗
May 14, 202610-Q · Quarterly reportEDGAR ↗
May 4, 20268-K · Current reportItems 3.02EDGAR ↗
Mar 4, 202610-K · Annual reportEDGAR ↗
Feb 23, 2026SC TO-I/A · Issuer tender offer (amendment)EDGAR ↗
Feb 23, 20268-K · Current reportItems 3.02EDGAR ↗
Feb 9, 2026SCHEDULE 13G/A · FilingEDGAR ↗
Jan 2, 20263 · Insider holdingsEDGAR ↗
Dec 31, 2025SC TO-I · Issuer tender offerEDGAR ↗
Dec 23, 20258-K · Current reportItems 5.02EDGAR ↗
Dec 1, 20258-K · Current reportItems 3.02EDGAR ↗
Nov 12, 202510-Q · Quarterly reportEDGAR ↗
Nov 6, 202540-17G · FilingEDGAR ↗
Oct 30, 20258-K · Current reportItems 1.01,2.03,9.01EDGAR ↗
Oct 2, 20258-K · Current reportItems 3.02EDGAR ↗
Aug 13, 202510-Q · Quarterly reportEDGAR ↗
Aug 12, 20253 · Insider holdingsEDGAR ↗
Aug 5, 20253 · Insider holdingsEDGAR ↗
Jul 25, 20258-K · Current reportItems 5.02EDGAR ↗
May 14, 202510-Q · Quarterly reportEDGAR ↗
May 2, 202540-APP/A · FilingEDGAR ↗

Our reads on SL Investment Fund II LLC.

No forensic read of this vehicle yet. When a filing changes something for holders — a tender offer, a repurchase cap, a NAV reset, a distribution cut — the read goes here.

Source: SEC EDGAR, XBRL company facts and filing index for CIK 2028686, retrieved Oct 12, 2026. Figures are reproduced as tagged by the issuer; errors in the source carry through, which is why every row links to the filing. Nothing here is investment advice.

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SL Investment Fund II LLC

What the figures say together

Key figures, as filed.

Filing timeline.

Our reads on SL Investment Fund II LLC.

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