# EDGAR Filing Document

**Accession Number:** 0002026098
**File Stem:** 0001049169-26-001088
**Filing Date:** 2026-5
**Character Count:** 10984
**Document Hash:** 0538efe854ad305ee380f7e3774ac02a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-26-001088.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0001049169-26-001088

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260520

**DATE AS OF CHANGE**: 20260520

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gladstone Alternative Income Fund
- **CENTRAL INDEX KEY:** 0002026098

**ORGANIZATION NAME:**
- **EIN:** 996587386
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23983
- **FILM NUMBER:** 261003704

**BUSINESS ADDRESS:**
- **STREET 1:** 1521 WESTBRANCH DRIVE
- **STREET 2:** SUITE 100
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22102
- **BUSINESS PHONE:** 703-287-5800

**MAIL ADDRESS:**
- **STREET 1:** 1521 WESTBRANCH DRIVE
- **STREET 2:** SUITE 100
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22102

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Gladstone Alternative Income Fund

- **b. Investment Company Act file number:** 811-23983

- **c. CIK number of Registrant:** 0002026098

- **d. LEI of Registrant:** 5299008TNQEFDPVB0997

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1521 Westbranch Dr Suite 100

  - **City:** McLean

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 22102

  - **Telephone number:** 7032875800

**Item A.2. Information about the Series.**

- **a. Name of Series:** Gladstone Alternative Income Fund

- **c. LEI of Series:** 5299008TNQEFDPVB0997

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $29784453.61

**Total Liabilities:** $8549887.63

**Net Assets:** $21234565.98

**Cash Not Reported:** $41439.60

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.98%               | 0.45%                | 0.41%                |
| Class ID N/A | -1.09%               | 0.46%                | 0.31%                |
| Class ID N/A | -1.08%               | 0.55%                | 0.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $45000.07                | $-386337.99                                |
| Month 2  | $-0.01                   | $-14404.01                                 |
| Month 3  | $0.04                    | $45874.53                                  |

### Schedule of Portfolio Investments

| Name                                         | Title                                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Morgan Stanley Institutional Liquidity Funds | MSILF Government Portfolio                                         | CUSIP: 61747C608<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |   3674909 | NS      | $3674908.75   | 17.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Treasury Bill                                | United States Treasury Bill                                        | CUSIP: 912797SD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9000000 | PA      | $8999100.00   | 42.38%            | 2026-04-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                          | Dutch Gold Honey (Common Stock)                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    100000 | NS      | $377488.00    | 1.78%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                          | Dutch Gold Honey (Secured Second Lien Debt)                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2700000 | PA      | $2700000.00   | 12.72%            | 2030-08-04      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| N/A                                          | Flexible Technology Solutions (Secured Second Lien Debt)           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1000000 | PA      | $1000000.00   | 4.71%             | 2031-03-31      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| N/A                                          | Flexible Technology Solutions (Preferred Stock)                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      2500 | NS      | $250000.00    | 1.18%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                          | Nielsen-Kellerman (Preferred Stock Series A)                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         3 | NS      | $2647.36      | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                          | Nielsen-Kellerman (Preferred Stock Series B)                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       628 | NS      | $552658.54    | 2.60%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                          | Nielsen-Kellerman (Secured First Lien Debt)                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1368858 | PA      | $1396235.29   | 6.58%             | 2029-12-19      | Floating      | 13.50%                | No            |                  3 | On Loan: No      |
| N/A                                          | REVERSE REPO                                                       | CUSIP: RP797SD08<br>LEI: N/A                  | Short            | RA               | CORP              | US        |  -8100000 | NS      | $-8100000.00  | -38.15%           |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                          | Detroit Defense (Preferred Stock)                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      1039 | NS      | $750839.46    | 3.54%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                          | Detroit Defense (Secured First Lien Debt)                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3661466 | PA      | $3661466.00   | 17.24%            | 2029-12-31      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| N/A                                          | Smart Chemical Solutions (Preferred Stock Series A)                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         3 | NS      | $2340.16      | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                          | Smart Chemical Solutions (Preferred Stock Series B)                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       614 | NS      | $480679.84    | 2.26%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                          | Smart Chemical Solutions (Secured First Lien Debt)                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1589823 | PA      | $1602411.22   | 7.55%             | 2030-05-15      | Floating      | 13.50%                | No            |                  3 | On Loan: No      |
| N/A                                          | Viron International (Common Stock)                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        50 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                          | Viron International (Secured First Lien Debt)                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2042500 | PA      | $2039401.53   | 9.60%             | 2030-02-07      | Floating      | 10.66%                | No            |                  3 | On Loan: No      |
| N/A                                          | Clean Water Environmental Services, Inc. (Secured First Lein Debt) | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 9.42%             | 2031-02-18      | Floating      | 10.97%                | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Gladstone Alternative Income Fund

**Signature:** Michael J. Malesardi

**Name of Signer:** Michael J. Malesardi

**Title:** Chief Financial Officer and Treasurer