Variant Alternative Income Fund
Sponsored by Variant. Interval Fund structure focused on private credit.
Interval FundPrivate Credit
- Net assets
- $2.46B
source
Monthly portfolio report (Form N-PORT) · filed 2026-06-29 · period 2026-04-30
Net assets (N-PORT Part B, Item B.2)
Method Direct: read from a structured filing field
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-04-30 - NAV / share
- $26.74
source
Shareholder report (Form N-CSR) · filed 2025-07-07 · period 2025-04-30
financial-highlights end-of-period NAV (fallback)
“Net asset value, end of year $ 26.74”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Filed fund value · as of 2025-04-30 - Net flows, last qtr
- -3.0% qtr ended 2026-03-31
- Distribution coverage (NII)
- 111% period ended 2025-10-31
- Leverage in use
- Pending Pending
- Total return, 12m
- Pending SEC-filed periodic NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
No current Urgent or Notify findings in filings reviewed through 2026-07-21.
Historical findings (2)
NAV per share fell 6.0% from $28.46 to $26.74 (2025-04-30).
Net outflow of 5.4% of NAV in the period ended 2024-09-30.
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Monthly performance eligibility
Canonical class: not designated · basis: no qualifying monthly chain · qualifying history: 0 months.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
Pending
Where exit demand met the cap.
The disclosed history shows no rationed period.
| Period | Requested | Filled | Cap used | Status |
|---|---|---|---|---|
| 2023-09-15 | 3.4% | 100% | 67% | filled |
| 2023-06-15 | 3.4% | 100% | 68% | filled |
| 2023-03-15 | 3.4% | 100% | 69% | filled |
| 2022-12-15 | 3.9% | 100% | 78% | filled |
| 2022-09-15 | 1.4% | 100% | 27% | filled |
| 2022-06-15 | 3.6% | 100% | 71% | filled |
| 2022-03-15 | 1.8% | 100% | 37% | filled |
| 2021-12-15 | 2.4% | 100% | 47% | filled |
| 2021-09-15 | 0.9% | 100% | 17% | filled |
| 2021-06-15 | 0.7% | 100% | 14% | filled |
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Pending
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Pending
Management fee: 0.95% of avg daily managed assets per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001213900-26-002829.
Filed fee conditions
Pursuant to the Investment Management Agreement, the Fund pays the Investment Manager a management fee ('Investment Management Fee') at an annual rate of 0.95%, calculated daily and payable monthly in arrears, based upon the Fund's average daily 'Managed Assets' (total assets, including any assets attributable to leverage, minus accrued liabilities other than debt representing leverage).
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| not designated | 0.95% | Pending | Pending | Pending | Pending | Pending |
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (2)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Pursuant to the Investment Management Agreement, the Fund pays the Investment Manager a management fee ('Investment Management Fee') at an annual rate of 0.95%, calculated daily and payable monthly in arrears, based upon the Fund's average daily 'Managed Assets' (total assets, including any assets attributable to leverage, minus accrued liabilities other than debt representing leverage). | 0.95 pct_annual_of_avg_daily_managed_assets | Pending |
| incentive_fee_schedule | The management agreements of the private investment companies provide compensation to the managers in the form of fees ranging from 0% to 4.25% annually of net assets and performance incentive allocations or fees ranging from 0% to 20% on net profits earned. | 20.0 pct_of_net_profits | Pending |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-06-29 | NPORT-P | 0001193125-26-287686 |
| 2026-05-22 | N-23C3A | 0001213900-26-060470 |
| 2026-03-27 | NPORT-P | 0001193125-26-129430 |
| 2026-02-20 | N-23C3A | 0001213900-26-018752 |
| 2026-01-09 | N-CSRS | 0001213900-26-002829 |
| 2025-12-22 | NPORT-P | 0001193125-25-328161 |
| 2025-11-24 | N-23C3A | 0001213900-25-114010 |
| 2025-09-26 | NPORT-P | 0001193125-25-219597 |
| 2025-08-25 | N-23C3A | 0001213900-25-080311 |
| 2025-07-07 | N-CSR | 0001213900-25-061814 |
| 2025-06-27 | NPORT-P | 0001145549-25-043743 |
| 2025-05-23 | N-23C3A | 0001213900-25-047244 |
| 2025-03-28 | NPORT-P | 0001145549-25-021623 |
| 2025-02-21 | N-23C3A | 0001213900-25-015987 |
| 2025-01-08 | N-CSRS | 0001213900-25-002142 |