XFLT: Sun Life reports 5,000,000 preferred shares (65%) on 13G

Accepted by SEC EDGAR 11/05/2025 - 04:29 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Sun Life Assurance Company of Canada and Sun Life Financial Inc. filed a Schedule 13G reporting beneficial ownership of 5,000,000 Mandatory Redeemable Preferred Shares of XAI Octagon Floating Rate & Alternative Income Trust (XFLT), representing 65% of that class as of 10/31/2025.

Sun Life Assurance reports sole voting and dispositive power over 5,000,000 shares. Sun Life Financial, as the parent, reports shared voting and dispositive power over 5,000,000 shares. The filing certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did XFLT disclose in the Schedule 13G?

A filing by Sun Life entities reporting beneficial ownership of 5,000,000 Mandatory Redeemable Preferred Shares, equal to 65% of that class as of 10/31/2025.

Who are the reporting persons in the XFLT Schedule 13G?

Sun Life Assurance Company of Canada and its parent, Sun Life Financial Inc.

How many XFLT preferred shares are beneficially owned?

The filing reports 5,000,000 Mandatory Redeemable Preferred Shares beneficially owned.

What percentage of the class do the reported shares represent?

They represent 65% of the Mandatory Redeemable Preferred Share class.

What voting and dispositive powers are reported?

Sun Life Assurance has 5,000,000 sole voting and sole dispositive power; Sun Life Financial has shared voting and dispositive power over 5,000,000.

What does the certification in the filing state?

It states the shares were acquired and are held in the ordinary course of business and not to change or influence control of the issuer.

What is the event date for the reported ownership?

The event date is 10/31/2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

XAI Octagon Floating Rate & Alternative Income Trust

(Name of Issuer)

Mandatory Redeemable Preferred Shares

(Title of Class of Securities)

98400TA*7

(CUSIP Number)

10/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 98400TA*7

1

Names of Reporting Persons

Sun Life Assurance Co of Canada

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,000,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,000,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,000,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

65 %

12

Type of Reporting Person (See Instructions)

CO, FI, IC

SCHEDULE 13G

CUSIP No. 98400TA*7

1

Names of Reporting Persons

Sun Life Financial Inc

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,000,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,000,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

65 %

12

Type of Reporting Person (See Instructions)

CO, FI, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: XAI Octagon Floating Rate & Alternative Income Trust
(b)	Address of issuer's principal executive offices: 321 North Clark Street, Suite 2430, Chicago, Illinois, 60654
Item 2.
(a)	Name of person filing: (i) Sun Life Assurance Company of Canada ("SLA") (ii) Sun Life Financial Inc. ("SLF")
(b)	Address or principal business office or, if none, residence: SLA and SLF: One York Street Toronto, Ontario, Canada M5J 0B6
(c)	Citizenship: SLA and SLF: Canada
(d)	Title of class of securities: Mandatory Redeemable Preferred Shares
(e)	CUSIP No.: 98400TA*7
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Insurance Company
Item 4.	Ownership
(a)	Amount beneficially owned: (i) SLA: 5,000,000 (ii) SLF: 5,000,000
(b)	Percent of class: (i) SLA: 65.0% (ii) SLF: 65.0%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: (1) SLA: 5,000,000 (2) SLF: 0
	(ii) Shared power to vote or to direct the vote: (1) SLA: 0 (2) SLF: 5,000,000
	(iii) Sole power to dispose or to direct the disposition of: (1) SLA: 5,000,000 (2) SLF: 0
	(iv) Shared power to dispose or to direct the disposition of: (1) SLA: 0 (2) SLF: 5,000,000
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Insurance Company is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Sun Life Assurance Co of Canada

Signature:	/s/ Randolph B. Brown
Name/Title:	Randolph B. Brown, Authorized Signatory
Date:	11/05/2025

Signature:	/s/ Brett W. Pacific
Name/Title:	Brett W. Pacific, Authorized Signatory
Date:	11/05/2025

Sun Life Financial Inc

Signature:	/s/ Randolph B. Brown
Name/Title:	Randolph B. Brown, Authorized Signatory
Date:	11/05/2025

Signature:	/s/ Brett W. Pacific
Name/Title:	Brett W. Pacific, Authorized Signatory
Date:	11/05/2025

Exhibit Information

Exhibit 1 - Joint Filing Agreement