# EDGAR Filing Document

**Accession Number:** 0001589390
**File Stem:** 0000910472-26-008648
**Filing Date:** 2026-6
**Character Count:** 13116
**Document Hash:** 1f68181016477b7b1251df2cb1409a7f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-008648.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000910472-26-008648

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Evanston Multi-Alpha Fund
- **CENTRAL INDEX KEY:** 0001589390

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22904
- **FILM NUMBER:** 261047962

**BUSINESS ADDRESS:**
- **STREET 1:** 1560 SHERMAN AVENUE
- **STREET 2:** SUITE 960
- **CITY:** EVANSTON
- **STATE:** IL
- **ZIP:** 60201
- **BUSINESS PHONE:** 847-328-4961

**MAIL ADDRESS:**
- **STREET 1:** 1560 SHERMAN AVENUE
- **STREET 2:** SUITE 960
- **CITY:** EVANSTON
- **STATE:** IL
- **ZIP:** 60201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** North Square Evanston Multi-Alpha Fund
- **DATE OF NAME CHANGE:** 20240509

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Evanston Alternative Opportunities Fund
- **DATE OF NAME CHANGE:** 20131016

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Evanston Multi-Alpha Fund

- **b. Investment Company Act file number:** 811-22904

- **c. CIK number of Registrant:** 0001589390

- **d. LEI of Registrant:** 5493003LZ0D84WKLJ903

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

**Item A.2. Information about the Series.**

- **a. Name of Series:** Evanston Multi-Alpha Fund

- **c. LEI of Series:** 5493003LZ0D84WKLJ903

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $93219167.33

**Total Liabilities:** $475290.52

**Net Assets:** $92743876.81

**Cash Not Reported:** $2699999.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C299222109 | 2.85%                | 1.04%                | -3.41%               |
| Class ID C299222208 | 2.78%                | 0.98%                | -3.47%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $230221.48               | $2433773.74                                |
| Month 2  | $252004.22               | $837990.07                                 |
| Month 3  | $426554.62               | $-3595371.80                               |

### Schedule of Portfolio Investments

| Name   | Title                                                                                | Identifiers            | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| N/A    | Blackrock Liquidity Funds T-Fund Institutional Shares                                | CUSIP: N/A<br>LEI: N/A | Long             | STIV             | RF                | US        |         0 | PA      | $0.03         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | 140 Summer Partners Offshore Ltd. Founders Sub-Class A Shar                          | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      2601 | NS      | $4978123.30   | 5.37%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | 59 North Offshore Partners Ltd. Series B-1                                           | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      2016 | NS      | $3783540.00   | 4.08%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | STIT- Treasury Portfolio                                                             | CUSIP: N/A<br>LEI: N/A | Long             | STIV             | RF                | US        |   3721873 | PA      | $3721873.19   | 4.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Agave Global Macro Fund Ltd. Class A-1 Non Restricted Shares, 08/01/2025             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      2486 | NS      | $2574613.72   | 2.78%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Alamut Feeder Fund Ltd. Class F USD UR Jul25                                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |     20000 | NS      | $1690974.44   | 1.82%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Alamut Feeder Fund Ltd. Class F USD UR Sep25                                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      5000 | NS      | $419545.41    | 0.45%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Alamut Feeder Fund Ltd. Class F USD UR Nov25                                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      2500 | NS      | $222673.64    | 0.24%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Anchorage Capital Partners Offshore, Ltd.                                            | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |        97 | NS      | $143594.24    | 0.15%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Cassiopeia Fund Ltd. Class B Series 01Oct2023                                        | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | BM        |         4 | NS      | $5053.62      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Castlehook Offshore Fund Ltd. Class A/U NV, Series 1                                 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |       420 | NS      | $2249602.46   | 2.43%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Castlehook Offshore Fund Ltd. Class F -A/U NV, Series 1                              | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |       601 | NS      | $3650073.87   | 3.94%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Crake Global Feeder Fund ICAV Sub-Class A Shares                                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | IE        |      6983 | NS      | $1969589.00   | 2.12%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Crake Global Feeder Fund ICAV Sub-Class B Shares                                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | IE        |     19286 | NS      | $5171535.00   | 5.58%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | XN Exponent Offshore Fund LP                                                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |     25982 | NS      | $3078718.08   | 3.32%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Foreword Capital Offshore Fund LP                                                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |     24217 | NS      | $2804438.36   | 3.02%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Hein Park Offshore Investors Ltd. Class A                                            | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      3188 | NS      | $3144320.80   | 3.39%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Hill City Capital Offshore Fund Ltd. Class A Sub Series Common 38                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      4814 | NS      | $5018902.84   | 5.41%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Iguazu Investors (Cayman) SPC Class A1                                               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |       560 | NS      | $2292482.22   | 2.47%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Matrix Capital Management Fund (Offshore) Ltd. Class I-T1, Series 11 07 14           | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |       314 | NS      | $472774.63    | 0.51%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Oxbow Fund (Offshore) Limited Series B Non-Restricted I000084043                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      1513 | NS      | $5844673.37   | 6.30%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Redwood Opportunity Offshore Fund Ltd. Non-Voting Shares                             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      1764 | NS      | $2737400.94   | 2.95%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Rokos Global Macro Fund Limited Class A UR NV/ 1                                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |     20842 | NS      | $7467087.17   | 8.05%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Sachem Head Offshore Ltd. Common, Series NR 09-2013                                  | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |       788 | NS      | $4415560.97   | 4.76%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Silver Point Capital Offshore Fund Ltd. H-551                                        | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |       327 | NS      | $7874775.00   | 8.49%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Soroban Long Only Equity Cayman Fund Ltd. Class 2-E, Series 1                        | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      2433 | NS      | $3413602.76   | 3.68%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Steelhead Pathfinder Fund Ltd. Default Class                                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |      2187 | NS      | $3511384.51   | 3.79%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | TIG Zebedee Core Fund Limited Class B USD - Non- Voting Shares                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |     27292 | NS      | $5588609.52   | 6.03%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Tribune Investment Group Offshore Fund Ltd. Class B, Discount E Series July 2024     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |       998 | NS      | $1081936.03   | 1.17%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Tribune Investment Group Offshore Fund Ltd. Class B, Discount E Series December 2024 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |       500 | NS      | $519703.95    | 0.56%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | Whale Rock Flagship Fund Ltd. Class A-1, Initial Series                              | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |        21 | NS      | $281842.38    | 0.30%             |  |  |  | No            | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

**Name of Applicant:** Evanston Multi-Alpha Fund

**Signature:** Ian Martin

**Name of Signer:** Ian Martin

**Title:** President