[Form 5] XAI Octagon Floating Rate & Alternative Income Trust Annual Statement of Beneficial Ownership

Rhea-AI Filing Summary

XAI Octagon Floating Rate & Alternative Income Trust (XFLT)09/30/2025. He held 550,859.238 common shares directly at year-end. In addition, he reported indirect ownership of 22,928.464 common shares through XMS Holdings LLC, 10,250 common shares through XA Investments LLC, and 9,874.915 common shares held by his spouse.

The filing explains that some of these positions changed through the XFLT Dividend Reinvestment Plan, including 7,553.144, 1,951.454, and 574.465 shares credited to various accounts, and that 8,500 shares were gifted from his direct account to his spouse’s account. The form confirms he is a vice president of XFLT and that this report is filed by one reporting person.

11/14/2025 - 07:24 PM

SEC Form 5

FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

Spence John Yogi

(Last) (First) (Middle)

321 N. CLARK STREET

(Street)

CHICAGO IL 60054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
XAI Octagon Floating Rate & Alternative Income Trust [ XFLT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price
Common Shares of Beneficial Ownership							550,859.238(1)(2)	D
Common Shares of Beneficial Ownership							22,928.464(3)	I	XMS Holdings LLC(4)
Common Shares of Beneficial Ownership							10,250	I	XA Investments LLC(5)
Common Shares of Beneficial Ownership							9,874.915(6)(7)	I	By Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
					(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares beneficially owned reflect 7,553.144 received through the XFLT Dividend Reinvestment Plan

2. Shares reflect reduction of 8,500 shares, gifted to Spouse's account

3. Shares beneficially owned reflect 1,951.454 received through the XFLT Dividend Reinvestment Plan

4. Mr. Spence may be deemed to beneficially own shares owned by XMS Holdings LLC due to his control of XMS Holdings LLC.

5. Mr. Spence may be deemed to beneficially own shares owned by XA Investments LLC due to his control of XA Investments LLC

6. Shares beneficially owned reflect 574.465 received through the XFLT Dividend Reinvestment Plan

7. Shares include 8,500 gift from Direct account

	/s/John Yogi Spence	11/14/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does the XFLT Form 5 filed by John Yogi Spence report?

The Form 5 reports John Yogi Spence’s beneficial ownership of XAI Octagon Floating Rate & Alternative Income Trust (XFLT) shares for the fiscal year ended 09/30/2025, including his direct and indirect holdings and certain year-end adjustments such as dividend reinvestments and a share gift.

How many XFLT shares does John Yogi Spence own directly according to this Form 5?

As of the issuer’s fiscal year ended 09/30/2025, John Yogi Spence directly owned 550,859.238 common shares of XAI Octagon Floating Rate & Alternative Income Trust.

What indirect XFLT share holdings does John Yogi Spence report on Form 5?

John Yogi Spence reports indirect ownership of 22,928.464 common shares through XMS Holdings LLC, 10,250 common shares through XA Investments LLC, and 9,874.915 common shares held by his spouse.

What transactions affected John Yogi Spence’s XFLT holdings in this Form 5?

The explanation notes that his holdings reflect shares received through the XFLT Dividend Reinvestment Plan (including 7,553.144, 1,951.454, and 574.465 shares credited to different accounts) and an 8,500-share gift transferred from his direct account to his spouse’s account.

What is John Yogi Spence’s relationship to XAI Octagon Floating Rate & Alternative Income Trust (XFLT)?

On this Form 5, John Yogi Spence is identified as an officer of XAI Octagon Floating Rate & Alternative Income Trust, with the title of Vice President.

Is this XFLT Form 5 filed by one or multiple reporting persons?

The filing indicates that it is a Form filed by one reporting person, specifically John Yogi Spence.