XFLT - XAI Floating Rate & Alternative Income Trust

What this means for you

Sit Investment owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.

Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.

Email me if this changes

What happened, and when

1. Aug 3, 2026

   Octagon Credit Investors, LLC started a fight over the shareholder vote. The meeting is on Aug 6, 2026.

   Original document →

2. July 31, 2026

   Octagon Credit Investors, LLC started a fight over the shareholder vote. The meeting is on Aug 6, 2026.

   Original document →

3. July 30, 2026

   Octagon Credit Investors, LLC started a fight over the shareholder vote. The meeting is on Aug 6, 2026.

   Original document →

4. July 28, 2026

   Octagon Credit Investors, LLC started a fight over the shareholder vote. The meeting is on July 30, 2026.

   Original document →

5. July 27, 2026

   Octagon Credit Investors, LLC started a fight over the shareholder vote. The meeting is on July 30, 2026.

   Original document →

About this fund

• Run by XA Investments. At its last yearly report (Sept 30, 2025) the fund was run by XA Investments LLC. As of Sept 30, 2025, from the fund's yearly report. Original document →
• Size: about $349 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 42% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. About 29% of that is money the fund has borrowed by selling preferred shares. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 2.9% a year in management fees; 8% a year in total, including interest on borrowed money. Fiscal year ended Sept 30, 2025. As of Sept 30, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Sept 30, 2025) the fund paid $0.91 a share. $0.88 of that was income; $0.03 was your own money back, not income. As of Sept 30, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Sept 30, 2025): $5.85. The shares traded at $5.30, about 9.4% below that. As of Sept 30, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 6% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: -26.5%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Sept 30, 2025): the value of the holdings returned +2.1%. How the share price did: the shares returned -9.7% over the same year, counting payouts and the change in the market price. As of Sept 30, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 2017.

What the fund holds

Mostly loans (43%), the rest asset-backed bonds and cash and short-term holdings. About 43% issued in the U.S.

1. Cash and short-term - 3.5%
2. Rram 2021-19A Sub - 2.3%
3. Ticp 2020-15A Sub - 2.2%
4. OHA Credit Partners, Oakc 2015-12A Sub - 1.9%
5. Cgms 2019-4A Suba - 1.8%
6. Ocp CLO, Ocp 2024-36A Sub - 1.7%
7. Regatta XIX Funding, REG19 2022-1A Sub - 1.6%
8. Oaktree CLO, Oakcl 2022-3A Sub - 1.6%
9. Apidos CLO, Apid 2024-48A Sub - 1.5%
10. Apidos CLO, Apid 2024-49A Sub - 1.5%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →