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        <lei>529900VBK42Y5HHRMD23</lei>
        <title>BlackRock Inc</title>
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          <isin value="US09290D1019"/>
          <ticker value="BLK"/>
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        <balance>2100.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
        <lei>549300CII6SLYGKNHA04</lei>
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          <ticker value="ROK 7 C300"/>
          <other otherDesc="OCC" value="ROK   250718C00300000"/>
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        <balance>-103.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-347625.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CAPITAL INSTITUTIONAL SVCS</counterpartyName>
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                <issuerName>The Options Clearing Corp</issuerName>
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            <unrealizedAppr>-279154.55000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T-Mobile US Inc</name>
        <lei>549300QHIJYOHPACPG31</lei>
        <title>T-Mobile US Inc</title>
        <cusip>872590104</cusip>
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          <isin value="US8725901040"/>
          <ticker value="TMUS"/>
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        <balance>14900.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>LOW US 09/19/25 C250</title>
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          <ticker value="LOW 9 C250"/>
          <other otherDesc="OCC" value="LOW   250919C00250000"/>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>CAPITAL INSTITUTIONAL SVCS</counterpartyName>
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                <issuerName>The Options Clearing Corp</issuerName>
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            <unrealizedAppr>31577.37000000</unrealizedAppr>
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      <invstOrSec>
        <name>Pfizer Inc</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>Pfizer Inc</title>
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          <isin value="US7170811035"/>
          <ticker value="PFE"/>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>FI US 07/18/25 C175</title>
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          <ticker value="FI 7 C175"/>
          <other otherDesc="OCC" value="FI    250718C00175000"/>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>CAPITAL INSTITUTIONAL SVCS</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>The Options Clearing Corp</issuerName>
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            <shareNo>100.00000000</shareNo>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
        <lei>549300CII6SLYGKNHA04</lei>
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          <ticker value="AMZN 7 C220"/>
          <other otherDesc="OCC" value="AMZN  250718C00220000"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CAPITAL INSTITUTIONAL SVCS</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>The Options Clearing Corp</issuerName>
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            <shareNo>100.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-8352.95000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>JNJ US 08/15/25 C160</title>
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          <ticker value="JNJ 8 C160"/>
          <other otherDesc="OCC" value="JNJ   250815C00160000"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CAPITAL INSTITUTIONAL SVCS</counterpartyName>
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      <invstOrSec>
        <name>APA Corp</name>
        <lei>549300VCIWLRHYVSHC79</lei>
        <title>APA Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Matador Resources Co</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>Matador Resources Co</title>
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          <isin value="US5764852050"/>
          <ticker value="MTDR"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>LVS US 07/18/25 C45</title>
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          <other otherDesc="OCC" value="LVS   250718C00045000"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ASML Holding NV</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
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          <ticker value="ASML"/>
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        <fairValLevel>1</fairValLevel>
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        <name>MKS Inc</name>
        <lei>549300KEQATBHAGVF505</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>American Tower Corp</name>
        <lei>5493006ORUSIL88JOE18</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Options Clearing Corp</name>
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          <other otherDesc="OCC" value="MMC   250919C00240000"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Labcorp Holdings Inc</name>
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        <title>Labcorp Holdings Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-07-30</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>
