GAINZ Gladstone Investment Corporation

November 26, 2024

Office of Registration and Reports

Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

RE: Gladstone Investment Corporation Fidelity Bond

Ladies and Gentlemen:

On behalf of Gladstone Investment Corporation (the “Company”), I enclose the following documents for filing pursuant to Rule 17g-1 of the Investment Company Act of 1940, as amended (the “1940 Act”):

The period for which premiums have been paid on behalf of the Company is November 25, 2024 to November 25, 2025. The Company’s premium is $9,448.

Thank you for your assistance. Should you have any questions, please feel free to call me at 703-287-5872.

				Anupama Muniyappa
				PO Box 2950
				Hartford, CT 06104-2950
				Phone: (312) 458-6687
				Fax: 312) 917-4173
				Email: AMUNIYAP@travelers.com

November 12, 2024

Justin Salazar

AON RISK SERVS CENTRAL

200 E RANDOLPH ST FL 9

CHICAGO, IL 60601

Dear Justin Salazar:

On behalf of Travelers Casualty and Surety Company of America we are pleased to bind coverage for the following Insurance.

INVESTMENT COMPANY BOND:

If “Not Covered” is inserted opposite any specified Insuring Agreement above, or if no amount is included, in the Single Loss Limit of Insurance, such Insuring Agreement and any other reference thereto is deemed to be deleted from this bond.

DISCOVERY PERIOD FOR BOND COVERAGE:

TOTAL ANNUAL PREMIUM - $9,448.00

(Other term options listed below, if available)

PREMIUM DETAIL:

CONTINGENCIES:

This binder is contingent on the acceptable underwriting review of the following information prior to the Binder expiration date.

None

This binder is a conditional binder, valid until December 12, 2024. This binder will expire on the noted date, at the noted time, unless the required underwriting information stated in the Contingencies section is provided to Travelers and then reviewed and accepted by Travelers prior to the noted expiration date and time.

This bond will not take effect unless Underwriting Information is received and satisfactorily reviewed by December 12, 2024 (Binder Expiration Date). If you do not submit the Underwriting Information on or before the Binder Expiration Date, no bond will be issued.

COMMISSION:   15.00%

NOTES:

NOTICES:

It is the agent’s or broker’s responsibility to comply with any applicable laws regarding disclosure to the bondholder of commission or other compensation we pay, if any, in connection with this bond or program.

Important Notice Regarding Compensation Disclosure

For information about how Travelers compensates independent agents, brokers, or other insurance producers, please visit this website: http://www.travelers.com/w3c/legal/Producer_Compensation_Disclosure.html

If you prefer, you can call the following toll-free number: 1-866-904-8348. Or you can write to us at Travelers, Agency Compensation, P.O. Box 2950, Hartford, CT 06104-2950.

Sincerely,

Anupama Muniyappa

Travelers Bond & Specialty Insurance

ACTION BY WRITTEN CONSENT

OF THE

BOARD OF DIRECTORS

OF

GLADSTONE INVESTMENT CORPORATION

The undersigned, being all of the members of the Board of Directors of Gladstone Investment Corporation, a Delaware Corporation (the “Company”), pursuant to Section 141(f) of the Delaware General Corporation Law, hereby adopt the following resolutions by written consent dated effective as of the 25th day of November, 2024:

WHEREAS, the Board has reviewed the renewal of the Company’s Investment Company Blanket Bond No. 106628401, the terms of which are attached hereto as Exhibit A, issued by Travelers Casualty and Surety Company of America (the “Fidelity Bond”);

NOW, THEREFORE, BE IT RESOLVED, that the members of the Board, including Paul W. Adelgren, Anthony Parker, Michela A. English, John H. Outland, Walter Wilkinson, and Katharine Gorka, each of whom is not an interested person under the 1940 Act, hereby acknowledge and agree that the Fidelity Bond is reasonable in form and amount; and it be

RESOLVED FURTHER, that the appropriate officers of the Company be, and they hereby are, authorized to enter into the Fidelity Bond for the Company; and it be

RESOLVED, FURTHER, that any and all previous actions taken by the Company’s officers, principals or agents in connection with the Fidelity Bond be, and hereby are, approved and ratified as duly authorized actions of the Company; and it be

RESOLVED FURTHER, that the appropriate officers of the Company be, and each of them hereby is, authorized and directed, for and on behalf of the Company, to file the Fidelity Bond with the Securities and Exchange Commission.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the undersigned have executed this Action by Written Consent of the Board of Directors of Gladstone Investment Corporation as of the day and year first written above.

EXHIBIT A

TERMS OF FIDELITY BOND

				Anupama Muniyappa
				PO Box 2950
				Hartford, CT 06104-2950
				Phone: (312) 458-6687
				Fax: 312) 917-4173
				Email: AMUNIYAP@travelers.com

November 12, 2024

Justin Salazar

AON RISK SERVS CENTRAL

200 E RANDOLPH ST FL 9

CHICAGO, IL 60601

Dear Justin Salazar:

On behalf of Travelers Casualty and Surety Company of America we are pleased to bind coverage for the following Insurance.

INVESTMENT COMPANY BOND:

If “Not Covered” is inserted opposite any specified Insuring Agreement above, or if no amount is included, in the Single Loss Limit of Insurance, such Insuring Agreement and any other reference thereto is deemed to be deleted from this bond.

DISCOVERY PERIOD FOR BOND COVERAGE:

TOTAL ANNUAL PREMIUM - $9,448.00

(Other term options listed below, if available)

PREMIUM DETAIL:

CONTINGENCIES:

This binder is contingent on the acceptable underwriting review of the following information prior to the Binder expiration date.

None

This binder is a conditional binder, valid until December 12, 2024. This binder will expire on the noted date, at the noted time, unless the required underwriting information stated in the Contingencies section is provided to Travelers and then reviewed and accepted by Travelers prior to the noted expiration date and time.

This bond will not take effect unless Underwriting Information is received and satisfactorily reviewed by December 12, 2024 (Binder Expiration Date). If you do not submit the Underwriting Information on or before the Binder Expiration Date, no bond will be issued.

COMMISSION:   15.00%

NOTES:

NOTICES:

It is the agent’s or broker’s responsibility to comply with any applicable laws regarding disclosure to the bondholder of commission or other compensation we pay, if any, in connection with this bond or program.

Important Notice Regarding Compensation Disclosure

For information about how Travelers compensates independent agents, brokers, or other insurance producers, please visit this website: http://www.travelers.com/w3c/legal/Producer_Compensation_Disclosure.html

If you prefer, you can call the following toll-free number: 1-866-904-8348. Or you can write to us at Travelers, Agency Compensation, P.O. Box 2950, Hartford, CT 06104-2950.

Sincerely,

Anupama Muniyappa

Travelers Bond & Specialty Insurance