# EDGAR Filing Document

**Accession Number:** 0001289868
**File Stem:** 0001289868-26-000004
**Filing Date:** 2026-2
**Character Count:** 42884
**Document Hash:** c338732e392f09d69c5697867d3b4c1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001289868-26-000004.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001289868-26-000004

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** XAI Madison Equity Premium Income Fund
- **CENTRAL INDEX KEY:** 0001289868

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21582
- **FILM NUMBER:** 26683939

**BUSINESS ADDRESS:**
- **STREET 1:** 321 NORTH CLARK STREET
- **STREET 2:** SUITE 2430
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654
- **BUSINESS PHONE:** 312-374-6937

**MAIL ADDRESS:**
- **STREET 1:** 321 NORTH CLARK STREET
- **STREET 2:** SUITE 2430
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Madison Covered Call & Equity Strategy Fund
- **DATE OF NAME CHANGE:** 20130102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Madison/Claymore Covered Call & Equity Strategy Fund
- **DATE OF NAME CHANGE:** 20080515

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Madison/Claymore Covered Call Fund
- **DATE OF NAME CHANGE:** 20041206

## Nport-Ex

**XAI Madison Equity Premium Income Fund**

SCHEDULE OF INVESTMENTS

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 93.87%** | **COMMON STOCKS - 93.87%** | **COMMON STOCKS - 93.87%** |
| *Consumer Discretionary Products - 1.83%* | *Consumer Discretionary Products - 1.83%* | *Consumer Discretionary Products - 1.83%* |
| &nbsp;&nbsp;&nbsp;&nbsp;NIKE, Inc., Class B<sup>(a)</sup> | 39200 | $2497432 |
| *Consumer Discretionary Services - 1.67%* | *Consumer Discretionary Services - 1.67%* | *Consumer Discretionary Services - 1.67%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Las Vegas Sands Corp.<sup>(a)</sup> | 35000 | 2278150 |
| *Consumer Staple Products - 8.61%* | *Consumer Staple Products - 8.61%* | *Consumer Staple Products - 8.61%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A<sup>(a)</sup> | 21000 | 2897160 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hershey Co.<sup>(a)</sup> | 22000 | 4003560 |
| &nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc.<sup>(a)</sup> | 33900 | 4865328 |
|  |  | 11766048 |
| *Financial Services - 3.06%* | *Financial Services - 3.06%* | *Financial Services - 3.06%* |
| &nbsp;&nbsp;&nbsp;&nbsp;CME Group, Inc.<sup>(a)</sup> | 15300 | 4178124 |
| *Health Care - 14.49%* | *Health Care - 14.49%* | *Health Care - 14.49%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Agilent Technologies, Inc.<sup>(a)</sup> | 29000 | 3946030 |
| &nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corp.<sup>(a)</sup> | 48500 | 3848960 |
| &nbsp;&nbsp;&nbsp;&nbsp;Danaher Corp.<sup>(a)</sup> | 24200 | 5539864 |
| &nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson<sup>(a)</sup> | 7000 | 1448650 |
| &nbsp;&nbsp;&nbsp;&nbsp;Medtronic PLC<sup>(a)</sup> | 22000 | 2113320 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pfizer, Inc. | 116000 | 2888400 |
|  |  | 19785224 |
| *Industrial Products - 4.30%* | *Industrial Products - 4.30%* | *Industrial Products - 4.30%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Honeywell International, Inc.<sup>(a)</sup> | 20000 | 3901800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc.<sup>(a)</sup> | 8000 | 1970400 |
|  |  | 5872200 |
| *Industrial Services - 1.47%* | *Industrial Services - 1.47%* | *Industrial Services - 1.47%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Fastenal Co.<sup>(a)</sup> | 50000 | 2006500 |
| *Insurance - 2.35%* | *Insurance - 2.35%* | *Insurance - 2.35%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc.<sup>(a)</sup> | 17300 | 3209496 |
| *Materials - 2.16%* | *Materials - 2.16%* | *Materials - 2.16%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc., Class B<sup>(a)</sup> | 58000 | 2945820 |
| *Media - 1.97%* | *Media - 1.97%* | *Media - 1.97%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Comcast Corp., Class A<sup>(a)</sup> | 90000 | 2690100 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 93.87% (Continued)** | **COMMON STOCKS - 93.87% (Continued)** | **COMMON STOCKS - 93.87% (Continued)** |
| *Oil & Gas - 10.60%* | *Oil & Gas - 10.60%* | *Oil & Gas - 10.60%* |
| &nbsp;&nbsp;&nbsp;&nbsp;APA Corp.<sup>(a)</sup> | 133700 | $3270302 |
| &nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips<sup>(a)</sup> | 40000 | 3744400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Matador Resources Co.<sup>(a)</sup> | 65000 | 2758600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transocean Ltd.<sup>(b)</sup> | 1140000 | 4708200 |
|  |  | 14481502 |
| *Real Estate Investment Trusts (REITs) - 4.31%* | *Real Estate Investment Trusts (REITs) - 4.31%* | *Real Estate Investment Trusts (REITs) - 4.31%* |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp.<sup>(a)</sup> | 22500 | 3950325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weyerhaeuser Co.<sup>(a)</sup> | 82000 | 1942580 |
|  |  | 5892905 |
| *Retail & Wholesale - Discretionary - 4.73%* | *Retail & Wholesale - Discretionary - 4.73%* | *Retail & Wholesale - Discretionary - 4.73%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc.<sup>(a)(b)</sup> | 19500 | 4500990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lowe's Cos., Inc.<sup>(a)</sup> | 8100 | 1953396 |
|  |  | 6454386 |
| *Retail & Wholesale - Staples - 2.34%* | *Retail & Wholesale - Staples - 2.34%* | *Retail & Wholesale - Staples - 2.34%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co.<sup>(a)</sup> | 55500 | 3190695 |
| *Software & Tech Services - 15.11%* | *Software & Tech Services - 15.11%* | *Software & Tech Services - 15.11%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Accenture PLC, Class A<sup>(a)</sup> | 12500 | 3353750 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc.<sup>(a)(b)</sup> | 11600 | 4059884 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fiserv, Inc.<sup>(a)(b)</sup> | 35100 | 2357667 |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp.<sup>(a)</sup> | 8600 | 4159132 |
| &nbsp;&nbsp;&nbsp;&nbsp;PayPal Holdings, Inc.<sup>(a)</sup> | 51300 | 2994894 |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc., Class A<sup>(a)</sup> | 10600 | 3717526 |
|  |  | 20642853 |
| *Tech Hardware & Semiconductors - 7.92%* | *Tech Hardware & Semiconductors - 7.92%* | *Tech Hardware & Semiconductors - 7.92%* |
| &nbsp;&nbsp;&nbsp;&nbsp;ASML Holding NV - Sponsored ADR<sup>(a)</sup> | 2200 | 2353692 |
| &nbsp;&nbsp;&nbsp;&nbsp;Microchip Technology, Inc.<sup>(a)</sup> | 49500 | 3154140 |
| &nbsp;&nbsp;&nbsp;&nbsp;QUALCOMM, Inc.<sup>(a)</sup> | 12000 | 2052600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Texas Instruments, Inc.<sup>(a)</sup> | 18800 | 3261612 |
|  |  | 10822044 |
| *Telecommunications - 2.92%* | *Telecommunications - 2.92%* | *Telecommunications - 2.92%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Lumen Technologies, Inc.<sup>(b)</sup> | 124000 | 963480 |
| &nbsp;&nbsp;&nbsp;&nbsp;T-Mobile US, Inc.<sup>(a)</sup> | 14900 | 3025296 |
|  |  | 3988776 |
| *Utilities - 4.03%* | *Utilities - 4.03%* | *Utilities - 4.03%* |
| &nbsp;&nbsp;&nbsp;&nbsp;AES Corp.<sup>(a)</sup> | 384000 | 5506560 |
| **TOTAL COMMON STOCKS <br> (Cost $153,772,105)** |  | $128208815 |

---

**XAI Madison Equity Premium Income Fund**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Expiration Date, Exercise Price, Notional Value** | **Number of Contracts** | **Value** |
| **PURCHASED OPTIONS - 0.00%<sup>(c)</sup>** | **PURCHASED OPTIONS - 0.00%<sup>(c)</sup>** | **PURCHASED OPTIONS - 0.00%<sup>(c)</sup>** |
| **Call Options Purchased - 0.00%<sup>(c)</sup>** | **Call Options Purchased - 0.00%<sup>(c)</sup>** | **Call Options Purchased - 0.00%<sup>(c)</sup>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Honeywell International, Inc., 1/16/2026, $220.00, $2,145,990 | 110 | $2200 |
| **TOTAL PURCHASED OPTIONS <br> (Cost $2,311)** |  | $2200 |
|  | **Shares** | **Value** |
| **MONEY MARKET FUNDS - 7.57%** | **MONEY MARKET FUNDS - 7.57%** | **MONEY MARKET FUNDS - 7.57%** |
| &nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund, X Class, 3.67% (7-Day Yield) | 10342638 | 10342638 |
| **TOTAL MONEY MARKET FUNDS <br> (Cost $10,342,638)** |  | $10342638 |
| **TOTAL INVESTMENTS - 101.44%<br> (Cost $164,117,054)** |  | $138553653 |
| **TOTAL CALL OPTIONS WRITTEN - (1.48)%** |  | (2023113) |
| **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.04%** |  | 58207 |
| **NET ASSETS - 100.00%** |  | $136588747 |

---

*<sup>(a)</sup>* *Pledged security; a portion or all of the security is pledged as collateral for written options in the amounts of $110,900,040 as of December 31, 2025.*

*<sup>(b)</sup>* *Non-income producing security.*

*<sup>(c)</sup>* *Less than 0.005%.*

Investment Abbreviations:

ADR - American Depositary Receipt

Ltd. – Limited

NV - Naamloze Vennootschap (Dutch: Public Limited Company)

PLC - Public Limited Company

**XAI Madison Equity Premium Income Fund**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Continued) (Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Call Options Written** | **Call Options Written** | **Call Options Written** | **Call Options Written** | **Call Options Written** | **Call Options Written** | **Call Options Written** | **Call Options Written** |
| **Underlying Security** | **Expiration<br> Date** | **Exercise<br> Price** | **Number of<br> Contracts** | **Notional Value** | **Market Value** | **Premiums<br> Received** | **Unrealized Appreciation/<br> (Depreciation)** |
| Accenture PLC, Class A | 1/16/2026 | $300.00 | (125) | $(3353750) | $(1562) | $(58622) | $57060 |
| Adobe, Inc. | 3/20/2026 | 400.00 | (116) | (4059884) | (78300) | (102079) | 23779 |
| AES Corp. | 1/16/2026 | 17.00 | (1290) | (1849860) |  | (30930) | 30930 |
| Agilent Technologies, Inc. | 3/20/2026 | 150.00 | (290) | (3946030) | (68875) | (92474) | 23599 |
| Amazon.com, Inc. | 2/20/2026 | 250.00 | (195) | (4500990) | (97500) | (95627) | (1873) |
| American Tower Corp. | 1/16/2026 | 185.00 | (225) | (3950325) | (8437) | (74814) | 66377 |
| APA Corp. | 1/16/2026 | 32.50 | (667) | (1631482) |  | (34902) | 34902 |
| Archer-Daniels-Midland Co. | 3/20/2026 | 62.50 | (280) | (1609720) | (29400) | (31964) | 2564 |
| ASML Holding NV | 2/20/2026 | 1100.00 | (22) | (2353692) | (115390) | (111298) | (4092) |
| CME Group, Inc. | 1/16/2026 | 280.00 | (153) | (4178124) | (22950) | (95787) | 72837 |
| Comcast Corp., Class A | 1/16/2026 | 35.00 | (900) | (2690100) | (1800) | (76479) | 74679 |
| ConocoPhillips | 2/20/2026 | 97.50 | (200) | (1872200) | (42000) | (36705) | (5295) |
| Constellation Brands, Inc., Class A | 1/16/2026 | 145.00 | (130) | (1793480) | (26975) | (47974) | 20999 |
| Constellation Brands, Inc., Class A | 3/20/2026 | 160.00 | (80) | (1103680) | (15200) | (24719) | 9519 |
| CVS Health Corp. | 1/16/2026 | 90.00 | (485) | (3848960) | (1212) | (105777) | 104565 |
| Danaher Corp. | 2/20/2026 | 240.00 | (242) | (5539864) | (118580) | (115301) | (3279) |
| Fastenal Co. | 2/20/2026 | 42.50 | (500) | (2006500) | (35000) | (60468) | 25468 |
| Fiserv, Inc. | 2/20/2026 | 75.00 | (351) | (2357667) | (88628) | (111437) | 22809 |
| Freeport-McMoRan, Inc. | 1/16/2026 | 45.00 | (580) | (2945820) | (350900) | (54509) | (296391) |
| Hershey Co. | 1/16/2026 | 195.00 | (220) | (4003560) | (8800) | (92187) | 83387 |
| Honeywell International, Inc. | 3/20/2026 | 210.00 | (200) | (3901800) | (58500) | (79797) | 21297 |
| Illinois Tool Works, Inc. | 3/20/2026 | 260.00 | (80) | (1970400) | (37200) | (50319) | 13119 |
| Johnson & Johnson | 3/20/2026 | 220.00 | (70) | (1448650) | (20580) | (25129) | 4549 |
| Las Vegas Sands Corp. | 2/20/2026 | 70.00 | (350) | (2278150) | (60550) | (62722) | 2172 |
| Lowe's Cos, Inc. | 1/16/2026 | 250.00 | (81) | (1953396) | (10894) | (28934) | 18040 |
| Marsh & McLennan Cos., Inc. | 4/17/2026 | 200.00 | (173) | (3209496) | (45413) | (57040) | 11627 |
| Matador Resources Co. | 1/16/2026 | 55.00 | (650) | (2758600) |  | (90409) | 90409 |
| Medtronic PLC | 3/20/2026 | 105.00 | (220) | (2113320) | (18700) | (33982) | 15282 |
| Microchip Technology, Inc. | 3/20/2026 | 75.00 | (495) | (3154140) | (74250) | (125723) | 51473 |
| Microsoft Corp. | 3/20/2026 | 520.00 | (86) | (4159132) | (82990) | (98438) | 15448 |
| NIKE, Inc., Class B | 3/20/2026 | 65.00 | (280) | (1783880) | (102200) | (42956) | (59244) |
| NIKE, Inc., Class B | 1/16/2026 | 72.50 | (112) | (713552) | (1344) | (12789) | 11445 |
| PayPal Holdings, Inc. | 2/20/2026 | 65.00 | (253) | (1477014) | (32764) | (45031) | 12267 |
| PayPal Holdings, Inc. | 3/20/2026 | 70.00 | (260) | (1517880) | (24180) | (32236) | 8056 |
| PepsiCo, Inc. | 1/16/2026 | 150.00 | (339) | (4865328) | (10340) | (107800) | 97460 |
| QUALCOMM, Inc. | 3/20/2026 | 195.00 | (120) | (2052600) | (34980) | (54478) | 19498 |
| Texas Instruments, Inc. | 1/16/2026 | 170.00 | (188) | (3261612) | (121730) | (80705) | (41025) |
| T-Mobile US, Inc. | 2/20/2026 | 230.00 | (40) | (812160) | (5800) | (15761) | 9961 |
| T-Mobile US, Inc. | 1/16/2026 | 240.00 | (109) | (2213136) | (109) | (75099) | 74990 |
| Visa, Inc., Class A | 2/20/2026 | 340.00 | (24) | (841704) | (43620) | (18456) | (25164) |
| Visa, Inc., Class A | 1/16/2026 | 340.00 | (82) | (2875822) | (104960) | (66336) | (38624) |
| Weyerhaeuser Co. | 1/16/2026 | 28.00 | (410) | (971290) |  | (26230) | 26230 |
| Weyerhaeuser Co. | 2/20/2026 | 25.00 | (410) | (971290) | (20500) | (18034) | (2466) |
|  |  |  |  | $(110900040) | $(2023113) | $(2702457) | $679344 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** XAI Madison Equity Premium Income Fund

- **b. Investment Company Act file number:** 811-21582

- **c. CIK number of Registrant:** 0001289868

- **d. LEI of Registrant:** 254900DMET709D189F74

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

  - **Street Address 1:** 321 NORTH CLARK STREET #2430

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60654

  - **Telephone number:** 3123746930

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

- **a. Name of Series:** XAI Madison Equity Premium Income Fund

- **c. LEI of Series:** 254900DMET709D189F74

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $138746866.40

**Total Liabilities:** $2160215.11

**Net Assets:** $136586651.29

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -1.61%               | 0.34%                | 1.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-794223.00                                |
| Month 2  | $1509900.43              | $379178.45                                 |
| Month 3  | $407935.17               | $-386095.68                                |

**Designated Index Information**

- **Index Name:** Securities Portfolio VaR

- **Index Identifier:** Designated Reference Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AES Corp/The                   | AES Corp/The                         | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    384000 | NS      | $5506560.00   | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe Inc                            | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     11600 | NS      | $4059884.00   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc       | Agilent Technologies Inc             | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |     29000 | NS      | $3946030.00   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                       | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     19500 | NS      | $4500990.00   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | MTDR US 01/16/26 C55                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -650 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp            | American Tower Corp                  | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     22500 | NS      | $3950325.00   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                       | APA Corp                             | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    133700 | NS      | $3270302.00   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co      | Archer-Daniels-Midland Co            | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     55500 | NS      | $3190695.00   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | AMT US 01/16/26 C185                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -225 | NC      | $-8437.50     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group Inc                        | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |     15300 | NS      | $4178124.00   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                | CVS Health Corp                      | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     48500 | NS      | $3848960.00   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp                         | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     90000 | NS      | $2690100.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                       | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     40000 | NS      | $3744400.00   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc       | Constellation Brands Inc             | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |     21000 | NS      | $2897160.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                         | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     24200 | NS      | $5539864.00   | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | APA US 01/16/26 C32.5                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -667 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | V US 01/16/26 C340                   | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -82 | NC      | $-104960.00   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | CVS US 01/16/26 C90                  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -485 | NC      | $-1212.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | STZ US 01/16/26 C145                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -130 | NC      | $-26975.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | CMCSA US 01/16/26 C35                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -900 | NC      | $-1800.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | FCX US 01/16/26 C45                  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -580 | NC      | $-350900.00   | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | TXN US 01/16/26 C170                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -188 | NC      | $-121730.00   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | ITW US 03/20/26 C260                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -80 | NC      | $-37200.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | HON US 01/16/26 C220                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       110 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                    | Fastenal Co                          | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     50000 | NS      | $2006500.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | ACN US 01/16/26 C300                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | IE        |      -125 | NC      | $-1562.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligation | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  10342638 | NS      | $10342637.71  | 7.57%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | HSY US 01/16/26 C195                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -220 | NC      | $-8800.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | LOW US 01/16/26 C250                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -81 | NC      | $-10894.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| FISERV, INC.                   | FISERV INC                           | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     35100 | NS      | $2357667.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | CME US 01/16/26 C280                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -153 | NC      | $-22950.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | PEP US 01/16/26 C150                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -339 | NC      | $-10339.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc           | Freeport-McMoRan Inc                 | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     58000 | NS      | $2945820.00   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | MRSH US 04/17/26 C200                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -173 | NC      | $-45412.50    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | A US 03/20/26 C150                   | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -290 | NC      | $-68875.00    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | TMUS US 01/16/26 C240                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -109 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | NKE US 01/16/26 C72.5                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -112 | NC      | $-1344.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | QCOM US 03/20/26 C195                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -120 | NC      | $-34980.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co/The                 | Hershey Co/The                       | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     22000 | NS      | $4003560.00   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc          | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     20000 | NS      | $3901800.00   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc        | Illinois Tool Works Inc              | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      8000 | NS      | $1970400.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | WY US 01/16/26 C28                   | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -410 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | WY US 02/20/26 C25                   | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -410 | NC      | $-20500.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | MDT US 03/20/26 C105                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | IE        |      -220 | NC      | $-18700.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | NKE US 03/20/26 C65                  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -280 | NC      | $-102200.00   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                    | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      7000 | NS      | $1448650.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | STZ US 03/20/26 C160                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -80 | NC      | $-15200.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | AES US 01/16/26 C17                  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |     -1290 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | PYPL US 03/20/26 C70                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -260 | NC      | $-24180.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | JNJ US 03/20/26 C220                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -70 | NC      | $-20580.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | MSFT US 03/20/26 C520                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -86 | NC      | $-82990.00    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | MCHP US 03/20/26 C75                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -495 | NC      | $-74250.00    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | ADBE US 03/20/26 C400                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -116 | NC      | $-78300.00    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | COP US 02/20/26 C97.5                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -200 | NC      | $-42000.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp           | Las Vegas Sands Corp                 | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     35000 | NS      | $2278150.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                 | Lowe's Cos Inc                       | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      8100 | NS      | $1953396.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumen Technologies Inc         | Lumen Technologies Inc               | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |    124000 | NS      | $963480.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc             | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     17300 | NS      | $3209496.00   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co           | Matador Resources Co                 | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     65000 | NS      | $2758600.00   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | TMUS US 02/20/26 C230                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -40 | NC      | $-5800.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                       | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      8600 | NS      | $4159132.00   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc       | Microchip Technology Inc             | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     49500 | NS      | $3154140.00   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | FAST US 02/20/26 C42.5               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -500 | NC      | $-35000.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | AMZN US 02/20/26 C250                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -195 | NC      | $-97500.00    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | ADM US 03/20/26 C62.5                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -280 | NC      | $-29400.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | V US 02/20/26 C340                   | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -24 | NC      | $-43620.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | PYPL US 02/20/26 C65                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -253 | NC      | $-32763.50    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | FISV US 02/20/26 C75                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -351 | NC      | $-88627.50    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | LVS US 02/20/26 C70                  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -350 | NC      | $-60550.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | ASML US 02/20/26 C1100               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | NL        |       -22 | NC      | $-115390.00   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | DHR US 02/20/26 C240                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -242 | NC      | $-118580.00   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| The Options Clearing Corp      | HON US 03/20/26 C210                 | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |      -200 | NC      | $-58500.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                       | NIKE Inc                             | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     39200 | NS      | $2497432.00   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc            | PayPal Holdings Inc                  | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     51300 | NS      | $2994894.00   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                    | PepsiCo Inc                          | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     33900 | NS      | $4865328.00   | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                     | Pfizer Inc                           | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    116000 | NS      | $2888400.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     12000 | NS      | $2052600.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US Inc                      | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     14900 | NS      | $3025296.00   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments Inc                | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     18800 | NS      | $3261612.00   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                             | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     10600 | NS      | $3717526.00   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                | Weyerhaeuser Co                      | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |     82000 | NS      | $1942580.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                  | Accenture PLC                        | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     12500 | NS      | $3353750.00   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                        | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     22000 | NS      | $2113320.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Transocean Ltd                 | Transocean Ltd                       | CUSIP: H8817H100<br>LEI: 529900QO4W5DQGBGEF32 | Long             | EC               | CORP              | CH        |   1140000 | NS      | $4708200.00   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                      | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      2200 | NS      | $2353692.00   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** XAI Madison Equity Premium Income Fund

**Signature:** Derek Mullins

**Name of Signer:** Derek Mullins

**Title:** Principal Financial Officer