Shares/ | Security | Value | |||
COMMON STOCKS – 8.8% |
| ||||
INTERNET – 0.4% |
| ||||
1,400 | Facebook, Inc., Class A(1) | $ | 387,758 | ||
| |||||
LISTED BUSINESS DEVELOPMENT COMPANIES – 6.2% |
| ||||
522,155 | Owl Rock Capital Corp. |
| 7,059,536 | ||
| |||||
MINING – 1.3% |
| ||||
24,000 | Newmont Mining Corp. |
| 1,411,680 | ||
| |||||
RETAIL – 0.6% |
| ||||
4,500 | Lowe’s Companies, Inc. |
| 701,190 | ||
| |||||
SOFTWARE – 0.3% |
| ||||
1,100 | MicroStrategy, Inc. – Class A(1) |
| 377,047 | ||
TOTAL COMMON STOCKS |
| 9,937,211 | |||
| |||||
PREFERRED STOCK IN PRIVATE COMPANIES – 1.8% |
| ||||
542,467 | GOSITE, Inc.(2) |
| 2,099,998 | ||
TOTAL PREFERRED STOCK IN PRIVATE COMPANIES |
| 2,099,998 | |||
| |||||
PURCHASED OPTIONS CONTRACTS – 1.4% |
| ||||
CALL OPTIONS – 1.4% |
| ||||
140 | DraftKings, Inc. |
| 247,800 | ||
200 | DraftKings, Inc. |
| 186,000 | ||
150 | MP Materials Corp. |
| 30,000 | ||
230 | NXP Semiconductors NV |
| 79,350 | ||
110 | Peloton Interactive Inc. |
| 39,050 | ||
100 | Salesforce.com, Inc. |
| 180,000 |
Shares/ | Security | Value | |||
PURCHASED OPTIONS CONTRACTS (continued) |
| ||||
CALL OPTIONS (continued) |
| ||||
150 | Ulta Beauty Inc. | $ | 144,300 | ||
100 | Unity Software Inc. |
| 338,000 | ||
30 | Workhorse Group Inc. |
| 18,000 | ||
300 | Workhorse Group Inc. |
| 225,000 | ||
300 | Workhorse Group Inc. |
| 57,600 | ||
TOTAL CALL OPTIONS |
| 1,545,100 | |||
TOTAL PURCHASED OPTIONS CONTRACTS |
| 1,545,100 | |||
| |||||
RIGHTS – 0.5% |
| ||||
PHARMACEUTICALS – 0.5% |
| ||||
475,000 | Bristol-Myers Squibb Co. CVR(1) |
| 560,500 | ||
TOTAL RIGHTS |
| 560,500 | |||
REAL ESTATE INVESTMENT TRUSTS – 51.3% |
| ||||
LISTED REAL ESTATE INVESTMENT TRUSTS – 2.7% |
| ||||
40,000 | American Campus Communities, Inc.(3) |
| 1,592,000 | ||
25,000 | QTS Realty Trust, Inc.(3) |
| 1,485,250 | ||
TOTAL LISTED REAL ESTATE INVESTMENT TRUSTS |
| 3,077,250 | |||
| |||||
NON-LISTED REAL ESTATE INVESTMENT TRUSTS – 14.8% |
| ||||
281,878 | Healthcare Trust, Inc.(2) |
| 4,306,398 | ||
456,540 | Hospitality Investor Trust, Inc.(1)(2) |
| 3,594,588 | ||
1,061,081 | NorthStar Healthcare Income, |
| 6,492,824 | ||
161,451 | Steadfast Apartment REIT, Inc.(2) |
| 2,328,880 | ||
TOTAL NON-LISTED REAL ESTATE INVESTMENT TRUSTS |
| 16,722,690 |
1
Destra Multi-Alternative Fund |
Schedule of Investments (continued) |
As of November 30, 2020 (unaudited) |
Shares/ | Security | Value | |||
REAL ESTATE INVESTMENT TRUSTS (continued) |
| ||||
PRIVATE REAL ESTATE INVESTMENT TRUSTS – 33.8% |
| ||||
4,113 | Clarion Lion Industrial Trust(2) | $ | 9,282,279 | ||
275,000 | GreenAcreage Real Estate Corp.(2) |
| 5,500,000 | ||
159 | Preservation REIT 1, Inc.(2) |
| 6,333,080 | ||
715,000 | Treehouse Real Estate Investment Trust, Inc.(2) |
| 17,160,000 | ||
TOTAL PRIVATE REAL ESTATE INVESTMENT TRUSTS |
| 38,275,359 | |||
TOTAL REAL ESTATE INVESTMENT TRUSTS |
| 58,075,299 | |||
| |||||
NON-LISTED BUSINESS DEVELOPMENT COMPANIES – 0.7% |
| ||||
101,405 | Cion Investment Corp.(2) |
| 772,709 | ||
TOTAL NON-LISTED BUSINESS DEVELOPMENT COMPANIES |
| 772,709 | |||
| |||||
PRIVATE INVESTMENT FUNDS – 40.0% |
| ||||
AIM Infrastructure MLP |
| 2,493,633 | |||
Arboretum Core Asset Fund, LP(2) |
| 2,379,707 | |||
Canyon CLO Fund II LP(2) |
| 7,263,663 | |||
Clarion Lion Properties Fund(2) |
| 4,740,892 | |||
Longley Partners Ventures, LP(1)(2) |
| 5,498,912 | |||
Mosaic Real Estate Credit, LLC(2) |
| 10,389,939 | |||
Ovation Alternative Income Fund(2) |
| 4,865,485 | |||
Stepstone Capital Partners IV, |
| 7,616,567 | |||
TOTAL PRIVATE INVESTMENT FUNDS |
| 45,248,798 | |||
| |||||
CLOSED-END FUND – 1.6% |
| ||||
135,000 | Sprott Physical Gold Trust(1) |
| 1,875,150 | ||
TOTAL CLOSED-END FUND |
| 1,875,150 | |||
| |||||
HEDGE FUND – 1.0% |
| ||||
Collins Master Access Fund, LLC(1)(2) |
| 1,114,714 | |||
TOTAL HEDGE FUND |
| 1,114,714 |
Shares/ | Security | Value | ||||
SHORT-TERM INVESTMENTS – 10.0% |
|
| ||||
MONEY MARKET FUND – 10.0% |
|
| ||||
11,305,428 | Fidelity Investments Money Market Funds – Government Portfolio, Class I, 0.01%(3)(4) | $ | 11,305,428 |
| ||
TOTAL SHORT-TERM INVESTMENTS |
| 11,305,428 |
| |||
TOTAL INVESTMENTS – 117.1% |
| 132,534,907 |
| |||
Liabilities in Excess of Other Assets – (17.1)% |
| (19,331,095 | ) | |||
TOTAL NET ASSETS – 100.0% | $ | 113,203,812 |
| |||
|
| |||||
WRITTEN OPTIONS CONTRACTS – (0.7)% |
|
| ||||
CALL OPTIONS – (0.7)% |
|
| ||||
(100) | DraftKings, Inc. |
| (43,100 | ) | ||
(150) | MP Materials Corp. |
| (12,000 | ) | ||
(90) | Peloton Interactive Inc. |
| (6,030 | ) | ||
(200) | Salesforce.com, Inc. |
| (88,000 | ) | ||
(290) | Ulta Beauty Inc. |
| (98,600 | ) | ||
(200) | Unity Software Inc. |
| (274,400 | ) | ||
(600) | Workhorse Group Inc. |
| (222,000 | ) | ||
(300) | Workhorse Group Inc. |
| (43,500 | ) | ||
TOTAL CALL OPTIONS |
| (787,630 | ) |
2
Shares/ | Security | Value | ||||
WRITTEN OPTIONS CONTRACTS (continued) |
|
| ||||
PUT OPTIONS – (0.0)%(5) |
|
| ||||
(100) | Salesforce.com, Inc. | $ | (31,800 | ) | ||
TOTAL WRITTEN OPTIONS CONTRACTS |
| (819,430 | ) | |||
|
| |||||
EXCHANGE-TRADED FUNDS SOLD SHORT – (2.4)% |
|
| ||||
(14,000) | Direxion Daily S&P 500 Bull 3X |
| (911,260 | ) | ||
(3,000) | iShares Transportation Average ETF |
| (659,460 | ) | ||
(3,897) | ProShares UltraPro QQQ |
| (615,804 | ) | ||
(8,000) | SPDR S&P Retail ETF |
| (480,640 | ) | ||
TOTAL EXCHANGE-TRADED FUNDS SOLD SHORT |
| (2,667,164 | ) | |||
TOTAL SECURITIES SOLD SHORT | $ | (3,486,594 | ) |
1 Non-income producing security.
2 Restricted investments as to resale.
3 All or a portion of this security is segregated as collateral for securities sold short.
4 The rate is the annualized seven-day yield as of November 30, 2020.
5 Rounds to less than (0.05%).
CVR — Contingent Value Right
REIT — Real Estate Investment Trusts
MLP — Master Limited Partnership
LLC — Limited Liability Company
LP — Limited Partnership
ETF — Exchange-Traded Fund
SPDR — Standard & Poor’s Depository Receipts
3
Destra Multi-Alternative Fund |
Schedule of Investments (continued) |
As of November 30, 2020 (unaudited) |
Restricted securities — Restricted securities are securities that may be resold only upon registration under federal securities laws or in transactions exempt from such registration. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer’s expense either upon demand by the Fund or in connection with another registered offering of the securities. Many restricted securities may be resold in the secondary market in transactions exempt from registration. Such restricted securities may be determined to be liquid under criteria established by the Board. The restricted securities are valued at the price provided by dealers in the secondary market or, if no market prices are available, the fair value as determined in good faith using methods approved by the Board.
Additional information on each restricted investment held by the Fund at November 30, 2020 is as follows:
Security Description | Acquisition | Cost | Value | % of Net | |||||||
AIM Infrastructure MLP Fund II, LP | 3/12/2014 | $ | 3,515,523 | $ | 2,493,633 | 2.2 | % | ||||
Arboretum Core Asset Fund, LP | 8/2/2018 |
| 2,500,000 |
| 2,379,707 | 2.1 | % | ||||
Canyon CLO Fund II LP | 2/25/2019 |
| 7,166,456 |
| 7,263,663 | 6.4 | % | ||||
Cion Investment Corp. | 4/21/2014 |
| 978,155 |
| 772,709 | 0.7 | % | ||||
Clarion Lion Industrial Trust | 6/29/2015 |
| 5,372,686 |
| 9,282,279 | 8.2 | % | ||||
Clarion Lion Properties Fund | 4/1/2014 |
| 3,376,078 |
| 4,740,892 | 4.2 | % | ||||
Collins Master Access Fund, LLC | 6/2/2015 |
| — |
| 1,114,714 | 1.0 | % | ||||
GOSITE, Inc. | 7/31/2020 |
| 2,099,998 |
| 2,099,998 | 1.8 | % | ||||
GreenAcreage Real Estate Corp. | 8/7/2019 |
| 5,500,000 |
| 5,500,000 | 4.9 | % | ||||
Healthcare Trust, Inc. | 3/30/2012 |
| 4,381,100 |
| 4,306,398 | 3.8 | % | ||||
Hospitality Investor Trust, Inc. | 2/17/2015 |
| 9,236,371 |
| 3,594,588 | 3.2 | % | ||||
Longley Partners Ventures, LP | 2/28/2020 |
| 4,916,166 |
| 5,498,912 | 4.9 | % | ||||
Mosaic Real Estate Credit, LLC | 7/6/2017 |
| 9,999,997 |
| 10,389,939 | 9.2 | % | ||||
NorthStar Healthcare Income, Inc. | 3/29/2012 |
| 7,237,071 |
| 6,492,824 | 5.7 | % | ||||
Ovation Alternative Income Fund | 7/25/2014 |
| 4,922,790 |
| 4,865,485 | 4.3 | % | ||||
Preservation REIT 1, Inc. | 10/22/2019 |
| 4,954,009 |
| 6,333,080 | 5.6 | % | ||||
Steadfast Apartment REIT, Inc. | 4/12/2012 |
| 1,019,079 |
| 2,328,880 | 2.1 | % | ||||
Stepstone Capital Partners IV, LP | 7/30/2018 |
| 6,322,768 |
| 7,616,567 | 6.7 | % | ||||
Treehouse Real Estate Investment Trust, Inc. | 12/31/2018 |
| 14,885,460 |
| 17,160,000 | 15.2 | % | ||||
Total | $ | 98,383,707 | $ | 104,234,268 |
|
4