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      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
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      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
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      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
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      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentDividend>N</isPaymentDividend>
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        <isFirstFilingByFund>N</isFirstFilingByFund>
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        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
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        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <aggregateCommission>0</aggregateCommission>
        <principalAggregatePurchase>0</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>20741108</mnthlyAvgNetAssets>
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    <closedEndManagementInvestment>
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        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>common</securityClassTitle>
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            <commonStock commonStockExchange="N/A" commonStockTickerSymbol="GAIIX"/>
            <commonStock commonStockExchange="N/A" commonStockTickerSymbol="GAICX"/>
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      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <isRepurchaseSecurity>N</isRepurchaseSecurity>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>1.21</managementFee>
      <netOperatingExpenses>1.46</netOperatingExpenses>
      <marketPricePerShare>N/A</marketPricePerShare>
      <netAssetValuePerShare>10.01</netAssetValuePerShare>
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    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
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    <signature registrantSignedName="Gladstone Alternative Income Fund" signedDate="2026-06-05" signature="Michael Malesardi" title="CFO and Treasurer"/>
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