Destra Multi-Alternative Fund (DMA) NPORT-P Destra Multi-Alternative Fund (Nov 2021 report)

Destra Multi-Alternative Fund

Schedule of Investments

As of November 30, 2021 (unaudited)

Shares/Contracts	Security	Value
	COMMON STOCKS – 16.5%
	AEROSPACE/DEFENSE – 0.5%
1,288	L3Harris Technologies, Inc.	$	269,295
808	Northrop Grumman Corp.		281,830
			551,125
	AUTO MANUFACTURERS – 0.5%
2,550	Cummins, Inc.		534,863
	BANKS – 0.5%
5,465	Morgan Stanley		518,191
	BIOTECHNOLOGY – 0.3%
6,257	Corteva, Inc.		281,565
	CHEMICALS – 0.3%
2,406	International Flavors & Fragrances, Inc.		342,061
	ELECTRIC – 0.3%
3,692	NextEra Energy, Inc.		320,392
	FINANCIAL SERVICES – 0.3%
2,499	Blackstone Group, Inc.		353,484
	HEALTHCARE-SERVICES – 0.5%
1,233	UnitedHealth Group, Inc.		547,723
	INSURANCE – 0.3%
3,780	Principal Financial Group, Inc.		259,232
	INVESTMENT COMPANIES – 0.5%
38,112	CION Investment Corp.		543,472
	LISTED BUSINESS DEVELOPMENT COMPANIES – 6.2%
470,155	Owl Rock Capital Corp.		6,553,961
	MACHINERY-DIVERSIFIED – 0.3%
861	Rockwell Automation, Inc.		289,468
	MEDIA – 0.3%
5,895	Comcast Corp., Class A		294,632
	MINING – 0.7%
14,264	Newmont Mining Corp.		783,379
	MISCELLANEOUS MANUFACTURING – 0.5%
1,308	Illinois Tool Works, Inc.		303,652
901	Parker-Hannifin Corp.		272,156
			575,808
	PHARMACEUTICALS – 0.6%
5,713	AbbVie, Inc.		658,595

Shares/Contracts	Security	Value
	COMMON STOCKS (continued)
	RETAIL – 1.5%
1,414	Advance Auto Parts, Inc.	$	312,098
1,050	McDonald’s Corp.		256,830
3,258	Starbucks Corp.		357,207
1,216	Target Corp.		296,510
4,671	The TJX Cos., Inc.		324,167
			1,546,812
	SEMICONDUCTORS – 0.6%
1,753	Analog Devices, Inc.		315,978
586	Broadcom Ltd.		324,457
			640,435
	SOFTWARE – 0.9%
877	Intuit, Inc.		572,067
1,143	Microsoft Corp.		377,865
			949,932
	TELECOMMUNICATIONS – 0.4%
10,116	Corning, Inc.		375,202
	TRANSPORTATION – 0.5%
1,095	Union Pacific Corp.		258,026
1,490	United Parcel Service, Inc., Class B		295,571
			553,597
	TOTAL COMMON STOCKS (Cost $18,460,840)		17,473,929
	EXCHANGE-TRADED FUND – 1.2%
26,051	KraneShares Global Carbon ETF(1)		1,246,019
	TOTAL EXCHANGE-TRADED FUND (Cost $1,005,891)		1,246,019
	PRIVATE COMPANIES – 7.3%
254,113	Always AI, Inc., Preferred Stock(1)(2)(3)		399,999
23,723	East Just, Inc., Common Stock(1)(2)(3)		557,965
542,467	GOSITE, Inc., Preferred Stock(1)(2)(3)		4,723,152
497,216	Iridia, Inc., Preferred Stock(1)(2)(3)		750,000
1,250,000	Long Game Savings, Inc., Convertible Debt, 7.00% 09/30/2022(2)(3)		1,250,000
	TOTAL PRIVATE COMPANIES (Cost $5,015,498)		7,681,116

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Destra Multi-Alternative Fund

Schedule of Investments (continued)

As of November 30, 2021 (unaudited)

Shares/Contracts	Security	Value
	PURCHASED OPTIONS CONTRACTS – 0.0%
	PUT OPTIONS – 0.0%
150	Deere & Co. Exercise Price: $230, Notional Amount: $3,450,000, Expiration Date: 01/21/2022(1)	$	14,100
	CALL OPTIONS – 0.0%
300	Invitation Homes, Inc. Exercise Price: $43, Notional Amount: $1,275,000, Expiration Date: 01/21/2022(1)		27,000
230	KraneShares CSI China Internet ETF Exercise Price: $70, Notional Amount: $1,610,000, Expiration Date: 01/21/2022(1)		1,150
500	Lions Gate Entertainment Corp. Exercise Price: $25, Notional Amount: $1,250,000, Expiration Date: 12/17/2021(1)		—-
	TOTAL CALL OPTIONS		28,150
	TOTAL PURCHASED OPTIONS CONTRACTS (Cost $242,541)		42,250
	RIGHTS – 0.2%
	PHARMACEUTICALS – 0.0%
142,000	Bristol-Myers Squibb Co. CVR(1)(2)		—
	REAL ESTATE – 0.2%
456,540	Hospitality Investor CVR(1)(2)(3)		241,226
	TOTAL RIGHTS (Cost $9,395,584)		241,226
	REAL ESTATE INVESTMENT TRUSTS – 35.9%
	LISTED REAL ESTATE INVESTMENT TRUSTS – 10.1%
40,000	American Campus Communities, Inc.(4)		2,069,600
2,216	Digital Realty Trust, Inc.		371,712
275,000	Newlake Capital Partners, Inc.		7,933,750
2,147	Prologis, Inc., REIT		323,660
	TOTAL LISTED REAL ESTATE INVESTMENT TRUSTS		10,698,722
	NON-LISTED REAL ESTATE INVESTMENT TRUSTS – 11.3%
302,451	Healthcare Trust, Inc.(2)(3)		4,321,633
1,061,081	NorthStar Healthcare Income, Inc.(1)(2)(3)		4,100,291
158,330	Steadfast Apartment REIT, Inc.(3)		3,510,573
	TOTAL NON-LISTED REAL ESTATE INVESTMENT TRUSTS		11,932,497

Shares/Contracts		Security	Value
		REAL ESTATE INVESTMENT TRUSTS (continued)
		PRIVATE REAL ESTATE INVESTMENT TRUSTS – 14.5%
715,000		Aventine Property Group, Inc.(1)(2)(3)	$	4,804,800
715,000		Treehouse Real Estate Investment Trust, Inc.(2)(3)(5)		10,582,000
		TOTAL PRIVATE REAL ESTATE INVESTMENT TRUSTS		15,386,800
		TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $35,330,966)		38,018,019
		ALTERNATIVE INVESTMENT FUNDS(6) – 42.4%
250		Arboretum Core Asset Fund, LP(3)(5)		2,392,703
—		Canyon CLO Fund II LP(3)(7)		10,433,655
4,113		Clarion Lion Industrial Trust(3)		12,325,856
—		Collins Master Access Fund, LLC(1)(3)(7)		105,740
—		Mosaic Real Estate Credit, LLC(3)(7)		10,068,695
—		Ovation Alternative Income Fund(3)(7)		2,043,229
159		Preservation REIT 1, Inc.(3)(8)		7,034,578
173		SGOF Liquidating Master, Ltd.(3)		461,174
		TOTAL ALTERNATIVE INVESTMENT FUNDS (Cost $34,801,115)		44,865,630
		SHORT-TERM INVESTMENTS – 15.3%
		MONEY MARKET FUND – 15.3%
16,231,610		Fidelity Investments Money Market Funds - Government Portfolio, Class I, 0.01%(4)(9)		16,231,610
		TOTAL SHORT-TERM INVESTMENTS (Cost $16,231,610)		16,231,610
		TOTAL INVESTMENTS – 118.8% (Cost $120,484,045)		125,799,799
		Liabilities in Excess of Other Assets – (18.8)%		(19,894,842	)
		TOTAL NET ASSETS – 100.0%	$	105,904,957
		WRITTEN OPTIONS CONTRACTS – (0.0)%
		PUT OPTIONS – (0.0)%
(250	)	Deere & Co. Exercise Price: $180, Notional Amount: $(4,500,000), Expiration Date: 01/21/2022		(9,750	)

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Destra Multi-Alternative Fund

Schedule of Investments (continued)

As of November 30, 2021 (unaudited)

Shares/Contracts		Security	Value
		WRITTEN OPTIONS CONTRACTS (continued)
		CALL OPTIONS – (0.0)%
(300	)	Invitation Homes, Inc. Exercise Price: $48, Notional Amount: $(1,425,000), Expiration Date: 01/21/2022	$	(13,500	)
(400	)	Lions Gate Entertainment Corp. Exercise Price: $30, Notional Amount: $(1,200,000), Expiration Date: 12/17/2021		—
		TOTAL CALL OPTIONS		(13,500	)
		TOTAL WRITTEN OPTIONS CONTRACTS (Proceeds $(88,208))		(23,250	)
		EXCHANGE-TRADED FUNDS SOLD SHORT – (2.3)%
(9,900	)	Direxion Daily S&P 500 Bull 3X		(1,255,023	)
(1,290	)	iShares Transportation Average ETF		(335,387	)
(4,900	)	ProShares UltraPro QQQ		(801,101	)
		TOTAL EXCHANGE-TRADED FUNDS SOLD SHORT (Proceeds $(802,222))		(2,391,511	)
		TOTAL SECURITIES SOLD SHORT (Proceeds $(890,430))	$	(2,414,761	)

(1)     Non-income producing security.

(2)     Fair valued using significant unobservable inputs.

(3)     Restricted investments as to resale.

(4)     All or a portion of this security is segregated as collateral for securities sold short.

(5)     Affiliated investment for which ownership exceeds 5% of the investment’s capital.

(6)     Investments in Alternative Investment Funds are valued using net asset value per share (or it’s equivalent) as practical expedient. See Note 2 for respective investment strategies, unfunded commitments and redemptive restrictions.

(7)     Alternative investment fund does not issue shares.

(8)     Affiliated investment for which ownership exceeds 25% of the investment’s capital.

(9)     The rate is the annualized seven-day yield as of November 30, 2021.

CVR — Contingent Value Right

ETF — Exchange-Traded Fund

LLC — Limited Liability Company

LP — Limited Partnership

REIT — Real Estate Investment Trusts

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Destra Multi-Alternative Fund

Schedule of Investments (continued)

As of November 30, 2021 (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, 2021 is as follows:

Security Description	Acquisition Date	Cost		Value		% of Net Assets
Always AI, Inc.	1/5/2021	$	399,999	$	399,999	0.4%
Arboretum Core Asset Fund, LP	8/2/2018		2,500,000		2,392,703	2.3
Aventine Property Group, Inc.	1/13/2021		5,692,400		4,804,800	4.5
Canyon CLO Fund II LP	2/25/2019		9,630,261		10,433,655	9.9
Clarion Lion Industrial Trust	6/29/2015		5,554,169		12,325,856	11.7
Collins Master Access Fund, LLC	6/2/2015		—		105,740	0.1
East Just, Inc.	6/11/2021		515,501		557,965	0.5
GOSITE, Inc.	7/31/2020		2,099,998		4,723,152	4.5
Healthcare Trust, Inc.	3/30/2012		4,371,313		4,321,633	4.1
Hospitality Investor CVR	2/17/2015		9,236,371		241,226	0.2
Iridia, Inc.	2/25/2021		750,000		750,000	0.7
Long Game Savings, Inc.	3/29/2021		1,250,000		1,250,000	1.2
Mosaic Real Estate Credit, LLC	7/6/2017		9,999,997		10,068,695	9.5
NorthStar Healthcare Income, Inc.	3/29/2012		7,237,071		4,100,291	3.9
Ovation Alternative Income Fund	7/25/2014		2,162,679		2,043,229	1.9
Preservation REIT 1, Inc.	10/22/2019		4,954,009		7,034,578	6.6
SGOF Liquidating Master, Ltd.	6/2/2015		—		461,174	0.4
Steadfast Apartment REIT, Inc.	4/12/2012		1,264,738		3,510,573	3.3
Treehouse Real Estate Investment Trust, Inc.	12/31/2018		9,169,276		10,582,000	10.0
Total		$	76,787,782	$	80,107,269

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