XAI Octagon Floating Rate & Alternative Income Term Trust: directors' dealings · United States · SEC (Form 4)

About XAI Octagon Floating Rate & Alternative Income Term Trust

XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) is a U.S.-listed closed-end management investment company based in the United States. For French-, Belgian- and Swiss-based investors, it should be viewed primarily as a specialized credit-income vehicle rather than a traditional bond fund. The trust is listed on the NYSE and aims to deliver attractive total return with an emphasis on current income by investing in floating-rate and structured credit instruments. The fund is advised by XA Investments LLC, a Chicago-based alternative investment manager, and sub-advised by Octagon Credit Investors, giving it a dual-manager structure that combines platform/distribution capabilities with dedicated credit expertise. The trust began operations on September 27, 2017. ([xainvestments.com](https://xainvestments.com/xflt/?utm_source=openai)) Strategically, XFLT focuses on dynamically managed exposure to private-credit-related opportunities. Under normal market conditions, it allocates at least 80% of managed assets to floating-rate credit instruments and other structured credit investments, including senior secured loans, CLO debt and CLO equity. That positioning places the trust in a niche within the broader fixed-income universe: it is designed to harvest yield and spread income from less vanilla credit segments, while accepting higher risk around credit quality, liquidity, leverage, and cyclical drawdowns. In other words, it is an income-oriented credit fund with a more opportunistic mandate than a plain-vanilla investment-grade vehicle. ([xainvestments.com](https://xainvestments.com/xflt/?utm_source=openai)) The sponsor platform matters. XA Investments is headquartered in Chicago and was founded in April 2016 by the principals of XMS Capital Partners. Octagon Credit Investors serves as the portfolio sub-adviser, which is important because credit selection and portfolio construction are central to performance in this strategy. XFLT therefore benefits from a specialist-manager model: XA provides the fund structure and public-market access, while Octagon brings underwriting and active management expertise in the credit markets. ([xainvestments.com](https://xainvestments.com/wp-content/uploads/2025/10/2024-Proxy-Statement_20240412.pdf?utm_source=openai)) From a geographic standpoint, this is a U.S. product, listed on the NYSE in the United States, and its investment universe is primarily tied to North American credit markets. Its competitive position is not based on scale or broad brand recognition, but on its ability to offer listed access to alternative credit exposures that are generally harder for retail investors to access directly. The trust’s investor page also highlighted, as of May 6, 2026, a closing price of $19.00, NAV of $23.58, and a discount of about 19.42%, with a current distribution rate of 14.21%. Those figures are useful as market-context indicators, although they should be read in conjunction with the fund’s risk profile and NAV volatility. ([xainvestments.com](https://xainvestments.com/xflt/?utm_source=openai)) Recent corporate and fund-level developments have included a 2024 transaction involving convertible preferred shares, portfolio-management changes announced in early 2024, and continued monthly distribution announcements and investor-webinar activity throughout 2025 and 2026. Shareholders also approved important proposals related to the fund’s structure and continued sub-advisory arrangements, reinforcing the trust’s ongoing evolution as a listed credit-income vehicle. For investors, XFLT is best understood as a high-yield, floating-rate, publicly traded U.S. credit fund with meaningful income appeal but also elevated sensitivity to the credit cycle. ([businesswire.com](https://www.businesswire.com/news/home/20240610307692/en/XAI-Octagon-Floating-Rate-Alternative-Income-Trust-Announces-Agreement-for-Private-Placement-of-Convertible-Preferred-Shares?utm_source=openai))