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      <regStreet1>321 NORTH CLARK STREET #2430</regStreet1>
      <regCity>CHICAGO</regCity>
      <regStateConditional regCountry="US" regState="US-IL"/>
      <regZipOrPostalCode>60654</regZipOrPostalCode>
      <regPhone>3123746930</regPhone>
      <seriesName>XAI Madison Equity Premium Income Fund</seriesName>
      <seriesLei>254900DMET709D189F74</seriesLei>
      <repPdEnd>2025-09-30</repPdEnd>
      <repPdDate>2025-09-30</repPdDate>
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      <totLiabs>3730134.38</totLiabs>
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        <name>The Options Clearing Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>The Options Clearing Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>APA Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Matador Resources Co</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ASML Holding NV</name>
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        <fairValLevel>1</fairValLevel>
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        <name>American Tower Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CAPITAL INSTITUTIONAL SVCS</counterpartyName>
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      <invstOrSec>
        <name>NIKE Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
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      <invstOrSec>
        <name>Weyerhaeuser Co</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Illinois Tool Works Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Visa Inc</name>
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        <fairValLevel>1</fairValLevel>
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    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>XAI Madison Equity Premium Income Fund</ncom:nameOfApplicant>
      <ncom:signature>Derek Mullins</ncom:signature>
      <ncom:signerName>Derek Mullins</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
