# EDGAR Filing Document

**Accession Number:** 0001824796
**File Stem:** 0000926877-26-000075
**Filing Date:** 2026-3
**Character Count:** 42448
**Document Hash:** 499af8d1d52ba6789fd51af7c6f57af7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000926877-26-000075.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000926877-26-000075

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Destiny Alternative Fund LLC
- **CENTRAL INDEX KEY:** 0001824796

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23813
- **FILM NUMBER:** 26707270

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2217

**MAIL ADDRESS:**
- **STREET 1:** 225 WEST WACKER DRIVE
- **STREET 2:** SUITE 2100
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Destiny Alternative Fund I LLC
- **DATE OF NAME CHANGE:** 20200915

## Nport-Ex

---

| |
|:---|
| **Destiny Alternative Fund LLC** |
| **SCHEDULE OF INVESTMENTS** |
| **As of December 31, 2025 (Unaudited)** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Name** | **Percentage<br> of <br> Net Assets** | **Cost** | **Fair Value** | **Country of<br> Incorporation** | **Redemption<br> Frequency** | **Initial<br> Acquisition Date** | **Redemption<br> Notice Period** |
| Investments with Underlying Funds<sup>\*</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Credit |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DSC Meridian Credit Opportunities Fund LP<sup>a,b,c</sup> | 5.71% | $1667461 | $2371865 | &nbsp;&nbsp;United States | Quarterly | &nbsp;&nbsp;3/1/2022 | &nbsp;&nbsp;75 days |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WhiteHawk IV Onshore Fund, L.P.<sup>a,b</sup> | 1.02 | 413005 | 425601 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;7/12/2024 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total credit | 6.73 | 2080466 | 2797466 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Event Driven |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sachem Head L.P. <sup>a,b,c</sup> | 7.50 | 1682328 | 3115731 | &nbsp;&nbsp;United States | Quarterly | &nbsp;&nbsp;3/1/2022 | &nbsp;&nbsp;70 days |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total event driven | 7.50 | 1682328 | 3115731 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Long/Short Equity |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cooper Square Fund II, LP<sup>a,b</sup> | 1.19 | 504805 | 493694 | &nbsp;&nbsp;United States | Quarterly | &nbsp;&nbsp;8/1/2022 | &nbsp;&nbsp;60 days |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RA Capital Healthcare Fund, LP<sup>a,b,d</sup> | 6.97 | 2251976 | 2895408 | &nbsp;&nbsp;United States | Quarterly | &nbsp;&nbsp;10/1/2020 | &nbsp;&nbsp;95 days |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEG Partners II, L.P.<sup>a,b</sup> | 5.70 | 1777837 | 2368375 | &nbsp;&nbsp;United States | Quarterly | &nbsp;&nbsp;10/1/2020 | &nbsp;&nbsp;45 days |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long/short equity | 13.86 | 4534618 | 5757477 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Multi Strategy |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Linden Investors LP<sup>a,b</sup> | 4.81 | 1500000 | 1998980 | &nbsp;&nbsp;United States | Quarterly | &nbsp;&nbsp;6/3/2024 | &nbsp;&nbsp;65 days |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Point72 Capital, LP<sup>a,b,d</sup> | 7.03 | 1566189 | 2920055 | &nbsp;&nbsp;United States | Quarterly | &nbsp;&nbsp;4/1/2022 | &nbsp;&nbsp;45 days |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walleye Opportunity Fund LP<sup>a,b,c</sup> | 6.85 | 2250000 | 2844914 | &nbsp;&nbsp;United States | Quarterly | &nbsp;&nbsp;5/3/2024 | &nbsp;&nbsp;30 days |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total multi strategy | 18.69 | 5316189 | 7763949 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private Equity |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 Holdings AI II, LLC<sup>a,b</sup> | 1.53 | 274538 | 634948 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;2/21/2024 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 Holdings MA LLC-Series 2024-1<sup>a,b</sup> | 1.01 | 307323 | 420585 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;10/24/2024 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 Holdings SXVII, LLC<sup>a,b</sup> | 2.04 | 300714 | 847832 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;6/1/2022 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 Ventures VI, LP<sup>a,b</sup> | 3.59 | 980791 | 1493444 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;11/28/2023 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acer Tree Credit Opportunities Partners, LP<sup>a,b</sup> | 1.22 | 500000 | 505926 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;5/30/2025 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arbour Lane Credit Opportunity Fund IV (B), LP<sup>a,b</sup> | 0.42 | 176811 | 175489 | &nbsp;&nbsp;Cayman Islands | Not Permitted | &nbsp;&nbsp;2/27/2025 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arlington Capital Partners VI, L.P.<sup>a,b</sup> | 3.23 | 937360 | 1342787 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;12/21/2023 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone Capital Partners Asia II L.P.<sup>a,b</sup> | 2.53 | 759369 | 1049423 | &nbsp;&nbsp;Cayman Islands | Not Permitted | &nbsp;&nbsp;5/1/2021 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone Growth L.P.<sup>a,b</sup> | 3.79 | 1612630 | 1574840 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;12/4/2020 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone Tactical Opportunities Fund (Songs Co-Invest) L.P.<sup>a,b</sup> | 0.53 | 175473 | 220394 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;4/6/2022 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GHO Capital IV USD LP<sup>a,b</sup> | 0.00 | 11067 |  | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;8/20/2025 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glade Brook Private Investors XXXVII LP<sup>a,b</sup> | 0.06 | 19007 | 23886 | &nbsp;&nbsp;United States | Not Permitted | &nbsp;&nbsp;3/26/2025 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GPS II L.P.<sup>a,b</sup> | 0.80 | 152133 | 331780 | &nbsp;&nbsp;Guernsey | Not Permitted | &nbsp;&nbsp;3/9/2023 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hedosophia Partners III L.P. <sup>a,b</sup> | 3.46 | 1054830 | 1436022 | &nbsp;&nbsp;Guernsey | Not Permitted | &nbsp;&nbsp;10/30/2020 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hedosophia Partners V L.P.<sup>a,b</sup> | 0.80 | 351493 | 333978 | &nbsp;&nbsp;Guernsey | Not Permitted | &nbsp;&nbsp;12/31/2021 | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hedosophia Partners V Parallel L.P. <sup>a,b</sup> | 0.34 | 148023 | 142979 | &nbsp;&nbsp;Guernsey | Not Permitted | &nbsp;&nbsp;12/31/2021 | &nbsp;&nbsp;N/A |

---

---

| |
|:---|
| **Destiny Alternative Fund LLC** |
| **SCHEDULE OF INVESTMENTS - CONTINUED** |
| **As of December 31, 2025 (Unaudited)** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Name** | **Percentage<br> of<br> Net Assets** | **Percentage<br> of<br> Net Assets** | **Cost** | **Fair Value** | **Country of<br> Incorporation** | **Redemption<br> Frequency** | **Initial<br> Acquisition Date** | **Redemption<br> Notice Period** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hedosophia Partners VI L.P.<sup>a,b</sup> |  | 2.23% | $680753 | $927093 | Guernsey | Not Permitted | 5/20/2024 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hedosophia SP A L.P.<sup>a,b</sup> |  | 0.65 | 253720 | 270822 | Guernsey | Not Permitted | 10/23/2024 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HOF Capital WH Strategic Opportunities Fund, LP<sup>a,b</sup> |  | 4.24 | 292950 | 1760000 | United States | Not Permitted | 6/21/2024 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HS Investments VI A LP<sup>a,b</sup> |  | 1.34 | 301642 | 555000 | Guernsey | Not Permitted | 7/2/2024 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Point72 Hyperscale International, L.P. <sup>a,b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Point72 Hyperscale International, L.P. <sup>a,b</sup> | 0.72 | 352872 | 299403 | Cayman Islands | Not Permitted | 4/8/2021 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Point72 Hyperscale, L.P. <sup>a,b</sup> |  | 0.72 | 354157 | 299974 | United States | Not Permitted | 4/8/2021 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RA Capital Nexus Fund II, LP<sup>a,b</sup> |  | 0.64 | 146847 | 264292 | United States | Not Permitted | 10/23/2020 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RA Capital Nexus International Fund II, LP <sup>a,b</sup> |  | 0.99 | 234837 | 411260 | Cayman Islands | Not Permitted | 10/23/2020 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schonfeld Strategic Partners Fund LLC<sup>a,b,e</sup> |  | 1.29 | 500000 | 535518 | United States | Not Permitted | 5/28/2025 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seer Capital Regulatory Capital Relief Fund LP<sup>a,b</sup> |  | 1.25 | 415138 | 520349 | Cayman Islands | Not Permitted | 6/3/2024 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total private equity |  | 39.42 | 11294478 | 16378024 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Venture Capital |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quiet Venture III, L.P.<sup>a,b,c</sup> |  | 2.70 | 789325 | 1120288 | United States | Not Permitted | 9/8/2023 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total venture capital |  | 2.70 | 789325 | 1120288 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments with Underlying Funds |  | 88.90% | $25697404 | $36932935 |  |  |  |  |

---

\* Investments with Underlying Funds do not issue shares of units.

<sup>a</sup> Non-income producing.

<sup>b</sup> Investments with Underlying Funds are issued in private placement transactions and as such are restricted to resale.

<sup>c</sup> Investments with Underlying Funds can institute a gate provision on redemptions at the investor level of 25% of the fair value of the investment in the Investments with Underlying Funds.

<sup>d</sup> Investments with Underlying Funds can institute a gate provision on redemptions at the fund level of 20-25% of the fair value of the investment in the Investments with Underlying Funds.

<sup>e</sup> Investments with Underlying Funds can institute a gate provision on redemptions at the investor level of 12.5% of the fair value of the investment in the Investments with Underlying Funds.

*See accompanying Notes to Schedule of Investments.*

**Destiny Alternative Fund LLC**

**SCHEDULE OF INVESTMENTS - CONTINUED**

**As of December 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of<br> Shares** | **Percentage<br> of Net Assets** | **Cost** | **Fair Value** |
| Investments in securities, at fair value |  |  |  |  |
| **Mutual Funds** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United States |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Janus Henderson Developed World Bond Fund | 19903 | 0.38% | $201101 | $156634 |
| &nbsp;&nbsp;&nbsp;RiverNorth/DoubleLine Strategic Income Fund | 20394 | 0.43 | 209271 | 180489 |
| &nbsp;&nbsp;&nbsp;Voya Securitized Credit Fund | 22422 | 0.52 | 213799 | 217269 |
| &nbsp;&nbsp;&nbsp;**Total Mutual Funds** |  | 1.33 | 624171 | 554392 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United States |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UMB Bank, Money Market Special II Deposit Investment, 3.48%<sup>1</sup> | 3886185 | 9.35 | 3886185 | 3886185 |
|  |  | 9.35 | 3886185 | 3886185 |
| &nbsp;&nbsp;&nbsp;**Total investment in securities, at fair value** |  | 10.68 | 4510356 | 4440577 |
| &nbsp;&nbsp;&nbsp;**Total investments with Underlying Funds and investments in securities** |  | **99.58** |  | **41373512** |
| &nbsp;&nbsp;&nbsp;**Assets in excess of other liabilities** |  | **0.42** |  | **172813** |
| &nbsp;&nbsp;&nbsp;**Total Net Assets** |  | **100.00%** |  | $**41546325** |

---

<sup>1</sup> The rate is the annualized seven-day yield at period end.

*See accompanying Notes to Schedule of Investments.*

**Destiny Alternative Fund LLC**

**NOTES TO SCHEDULE OF INVESTMENTS**

**As of December 31, 2025 (Unaudited)**

**Note 1 – Organization**

Destiny Alternative Fund LLC (the "Fund") is a Delaware limited liability company registered under the Investment Company Act of 1940, as amended (the "Investment Company Act") as a non-diversified, closed-end management investment company. The Fund was organized as a limited liability company on August 14, 2020, commenced operations on October 1, 2020 and currently operates under an Amended and Restated Limited Liability Company Agreement ("LLC Agreement") dated November 21, 2022. On July 1, 2022, the Fund registered with the Securities and Exchange Commission ("SEC") under the Investment Company Act. On December 5, 2025, the Board approved the reorganization of the Fund with and into the Destiny Alternative Fund (the "Acquiring Fund" and, collectively with the Fund, the "Funds") (the "Reorganization"). The Funds are closed-end management investment companies, registered under the Investment Company Act of 1940, as amended. Each Fund's investment adviser is First Trust Capital Management L.P. (the "Investment Adviser") and each Fund is overseen by the same Board. The Fund's investment objective, strategies and policies will not change as a result of the Reorganization. The Reorganization is expected to be treated as a tax-free reorganization for U.S. federal income tax purposes, under which the Acquiring Fund will acquire substantially all of the assets and liabilities of the Fund. The Reorganization was completed on January 1, 2026.

**Note 2 –** **Valuation of Investments**

UMB Fund Services, Inc., the Fund's Administrator, ("UMBFS" or the "Administrator") calculates the Fund's net asset value ("NAV") as of the close of business on the last day of each quarter and at such other times as the Board may determine, including in connection with repurchases of Units, in accordance with the procedures described below or as may be determined from time to time in accordance with policies established by the Board.

For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act. As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board has designated the Investment Adviser as the valuation designee ("Valuation Designee") for the Fund to perform in good faith the fair value determination relating to all Fund investments, under the Board's oversight. The Investment Manager carries out its designated responsibilities as Valuation Designee through its Valuation Committee. The fair values of one or more assets may not be the prices at which those assets are ultimately sold and the differences may be significant.

The Valuation Designee may value Fund portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services, quotation reporting systems, valuation agents and other third-party sources.

The Fund values its investments in private Underlying Funds (generally private funds that are excluded from the definition of "investment company" pursuant to Sections 3(c)(1) or 3(c)(7) of the Investment Company Act). Fair value as of each quarter-end or other applicable accounting periods, as applicable, ordinarily will be the value determined as of such date by each private Underlying Fund in accordance with the private Underlying Fund's valuation policies and reported at the time of the Fund's valuation. As a general matter, the fair value of the Fund's interest in a private Underlying Fund will represent the amount that the Fund could reasonably expect to receive from the private Underlying Fund if the Fund's interest was redeemed at the time of valuation, based on information reasonably available at the time the valuation is made and that the Valuation Designee believes to be reliable. The Valuation Designee will determine the fair value of such private Underlying Fund based on the most recent final or estimated value reported by the private Underlying Fund, as well as any other relevant information available at the time the Valuation Designee values the portfolio.. A substantial amount of time may elapse between the occurrence of an event necessitating the pricing of Fund assets and the receipt of valuation information from the underlying manager of a private Underlying Fund.

**Destiny Alternative Fund LLC**

**NOTES TO SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

The Valuation Designee will consider whether it is appropriate, in light of all relevant circumstances, to value such interests at the NAV as reported by the underlying manager at the time of valuation, or whether to adjust such value to reflect a premium or discount to NAV. In accordance with accounting principles generally accepted in the United States of America ("GAAP"), and industry practice the Fund may not always apply a discount in cases where there is no contemporaneous redemption activity in a particular Underlying Fund. In other cases, as when an Underlying Fund imposes extraordinary restrictions on redemptions, when other extraordinary circumstances exist, or when there have been no recent transactions in Underlying Fund interests, the Fund may determine that it is appropriate to apply a discount to the NAV of the Underlying Fund. Any such decision will be made in good faith by the Valuation Designee, under oversight by the Board.

Where deemed appropriate by the Valuation Designee and consistent with the Investment Company Act, investments in Underlying Funds may be valued at cost. Cost will be used only when cost is determined to best approximate the fair value of the particular security under consideration.

To the extent the Fund invests in securities or other instruments that are not investments in Underlying Funds, the Fund, as applicable, will generally value such assets as described below. Securities traded (1) on one or more of the U.S. national securities exchanges or the OTC Bulletin Board will be valued at their last sales price, and (2) on NASDAQ will be valued at the NASDAQ Official Closing Price ("NOCP"), at the close of trading on the exchanges or markets where such securities are traded for the business day as of which such value is being determined. Securities traded on NASDAQ for which the NOCP is not available will be valued at the mean between the closing bid and asked prices in this market. Securities traded on a foreign securities exchange generally will be valued at their closing prices on the exchange where such securities are primarily traded and translated into U.S. dollars at the current exchange rate. Except as specified above, the value of a security, derivative, or synthetic security that is not actively traded on an exchange shall be determined by an unaffiliated pricing service that may use actual trade data or procedures using market indices, matrices, yield curves, specific trading characteristics of certain groups of securities, pricing models, or combinations of these. If the Valuation Designee believes that the value received from the pricing service does not reflect fair value then the Valuation Designee will fair value the security using another methodology.

Debt securities generally will be valued by the Valuation Designee using a third-party pricing system, agent or dealer selected by the Valuation Designee, which may include the use of valuations furnished by a pricing service that employs a matrix to determine valuations for normal institutional size trading units. Debt securities with remaining maturities of 60 days or less, absent unusual circumstances, will be valued at amortized cost, so long as such valuations are determined by the Fund or its Valuation Designee to represent fair value.

Assets and liabilities initially expressed in foreign currencies will be converted into U.S. dollars using foreign exchange rates provided by a pricing service. Trading in foreign securities generally is completed, and the values of such securities are determined, prior to the close of securities markets in the United States. Foreign exchange rates are also determined prior to such close. On occasion, the values of securities and exchange rates may be affected by events occurring between the time as of which determination of such values or exchange rates are made and the time as of which the NAV of the Fund is determined. When such events materially affect the values of securities held by the Fund or its liabilities, such securities and liabilities will be valued at fair value as determined in good faith by the Valuation Designee.

The Fund will generally value shares of exchange-traded funds ("ETFs") at the last sale price on the exchange on which the ETF is principally traded. The Fund will generally value shares of open-end investment companies and closed-end investment companies that do not trade on one or more of the U.S. national securities exchanges at their respective NAVs.

**Destiny Alternative Fund LLC**

**NOTES TO SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

Investors should be aware that situations involving uncertainties as to the value of portfolio positions could have an adverse effect on the Fund's net assets if the judgments of the Valuation Designee (in reliance on the underlying Funds and/or their administrators) regarding appropriate valuations should prove incorrect.

**Note 3– Fair Value Measurements and Disclosure**

ASC 820, *Fair Value Measurements and Disclosures* defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and expands disclosure about fair value measurements. It also provides guidance on determining when there has been a significant decrease in the volume and level of activity for an asset or a liability, when a transaction is not orderly, and how that information must be incorporated into a fair value measurement.

 

Under ASC 820, various inputs are used in determining the value of the Fund's investments. These inputs are summarized into three broad levels as described below:

● Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

● Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

● Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.

In accordance with Accounting Standards Update ASU 2015-07, *Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)*, investments valued at the NAV as practical expedient are no longer included in the fair value hierarchy. As such, investments with Underlying Funds with a fair value of $36,932,935 are excluded from the fair value hierarchy as of December 31, 2025.

**Destiny Alternative Fund LLC**

**NOTES TO SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following table summarizes the Fund's investments that are measured at fair value by level within the fair value hierarchy as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;**Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual Funds | $554392 | $- | $- | $554392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | 3886185 |  |  | 3866185 |
| &nbsp;&nbsp;&nbsp;Subtotal | $4440577 | $- | $- | $4440577 |
| Investments with Underlying Funds |  |  |  | 36932935 |
| Total Investments |  |  |  | $41373512 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Destiny Alternative Fund LLC

- **b. Investment Company Act file number:** 811-23813

- **c. CIK number of Registrant:** 0001824796

- **d. LEI of Registrant:** 549300XRSLTUZJ5MLR04

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

  - **Street Address 1:** 235 West Galena Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53212

  - **Telephone number:** 414-299-2270

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

- **a. Name of Series:** Destiny Alternative Fund LLC

- **c. LEI of Series:** 549300XRSLTUZJ5MLR04

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $41685158.94

**Total Liabilities:** $138834.16

**Net Assets:** $41546324.78

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A |  |  | 4.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $131485.85               | $1808419.00                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| RA Capital Healthcare Fund, LP                                | RA Capital Healthcare Fund, LP                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2895408 | OU      | $2895408.00   | 6.97%             |  |  |  | Yes           | N/A                | On Loan: No      |
| RA Capital Nexus Fund II, LP                                  | RA Capital Nexus Fund II, LP                                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    264292 | OU      | $264292.00    | 0.64%             |  |  |  | Yes           | N/A                | On Loan: No      |
| RA Capital Nexus International Fund II, LP                    | RA Capital Nexus International Fund II, LP                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |    411260 | OU      | $411260.00    | 0.99%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Sachem Head LP                                                | Sachem Head LP                                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3115731 | OU      | $3115730.85   | 7.50%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Schonfeld Strategic Partners Fund LLC                         | Schonfeld Strategic Partners Fund LLC                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    535518 | OU      | $535518.18    | 1.29%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Seer Capital Regulatory Capital Relief Fund LP                | Seer Capital Regulatory Capital Relief Fund LP                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |    520349 | OU      | $520349.00    | 1.25%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SEG Partners II LP                                            | SEG Partners II LP                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2368375 | OU      | $2368374.87   | 5.70%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Walleye Opportunity Fund LP                                   | Walleye Opportunity Fund LP                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2844914 | OU      | $2844914.00   | 6.85%             |  |  |  | Yes           | N/A                | On Loan: No      |
| WhiteHawk IV Onshore Fund, L.P.                               | WhiteHawk IV Onshore Fund, L.P.                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    425601 | OU      | $425600.80    | 1.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| RIVERNORTH FDS RNRTH DBLN STG I                               | RIVERNORTH FDS RNRTH DBLN STG I                               | CUSIP: 76881N202<br>LEI: N/A | Long             |  | RF                | US        |     20394 | NS      | $180488.98    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| JNS HDRSN-DVLPD WRLD BOND-I                                   | JNS HDRSN-DVLPD WRLD BOND-I                                   | CUSIP: 47103Y839<br>LEI: N/A | Long             |  | RF                | US        |     19903 | NS      | $156633.97    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| VOYA SECURITIZED CREDIT-I                                     | VOYA SECURITIZED CREDIT-I                                     | CUSIP: 92913M732<br>LEI: N/A | Long             |  | RF                | US        |     22422 | NS      | $217268.54    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| UMB Money Market II Special                                   | SF8888628                                                     | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             | CORP              | US        |   3886185 | PA      | $3886185.13   | 9.35%             |  |  |  | No            | 1                  | On Loan: No      |
| 137 Holdings AI II, LLC                                       | 137 Holdings AI II, LLC                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    634948 | OU      | $634948.00    | 1.53%             |  |  |  | Yes           | N/A                | On Loan: No      |
| 137 Holdings MA LLC-Series 2024-1                             | 137 Holdings MA LLC-Series 2024-1                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    420585 | OU      | $420585.00    | 1.01%             |  |  |  | Yes           | N/A                | On Loan: No      |
| 137 HOLDINGS SXVII, LLC                                       | 137 HOLDINGS SXVII, LLC                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    847832 | OU      | $847832.00    | 2.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| 137 Ventures VI, LP                                           | 137 Ventures VI, LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1493444 | OU      | $1493444.00   | 3.59%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Acer Tree Credit Opportunities Partners, LP                   | Acer Tree Credit Opportunities Partners, LP                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    505925 | OU      | $505925.08    | 1.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Arbour Lane Credit Opportunity Fund IV (B), LP                | Arbour Lane Credit Opportunity Fund IV (B), LP                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |    175489 | OU      | $175488.92    | 0.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Arlington Capital Partners VI, L.P.                           | Arlington Capital Partners VI, L.P.                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1342787 | OU      | $1342787.00   | 3.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Blackstone Capital Partners Asia II L.P.                      | Blackstone Capital Partners Asia II L.P.                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   1049423 | OU      | $1049423.08   | 2.53%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Blackstone Growth LP                                          | Blackstone Growth LP                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1574840 | OU      | $1574840.15   | 3.79%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Blackstone Tactical Opportunities Fund (Songs Co-Invest) L.P. | Blackstone Tactical Opportunities Fund (Songs Co-Invest) L.P. | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    220394 | OU      | $220394.22    | 0.53%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Cooper Square Fund II, LP                                     | Cooper Square Fund II, LP                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    493695 | OU      | $493694.67    | 1.19%             |  |  |  | Yes           | N/A                | On Loan: No      |
| DSC MERIDIAN CREDIT OPPORTUNITIES ONSHORE FUND LP             | DSC MERIDIAN CREDIT OPPORTUNITIES ONSHORE FUND LP             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2371866 | OU      | $2371865.75   | 5.71%             |  |  |  | Yes           | N/A                | On Loan: No      |
| GHO Capital IV USD LP                                         | GHO Capital IV USD LP                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         0 | OU      | $0.02         | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Glade Brook Private Investors XXXVII LP                       | Glade Brook Private Investors XXXVII LP                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     23886 | OU      | $23885.83     | 0.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| GPS II L.P.                                                   | GPS II L.P.                                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |    331780 | OU      | $331780.00    | 0.80%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hedosophia Partners III L.P.                                  | Hedosophia Partners III L.P.                                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |   1436022 | OU      | $1436022.00   | 3.46%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hedosophia Partners V LP                                      | Hedosophia Partners V LP                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |    333978 | OU      | $333978.00    | 0.80%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hedosophia Partners V Parallel L.P.                           | Hedosophia Partners V Parallel L.P.                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |    142979 | OU      | $142979.00    | 0.34%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hedosophia Partners VI L.P.                                   | Hedosophia Partners VI L.P.                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |    927093 | OU      | $927093.00    | 2.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hedosophia SP A L.P.                                          | Hedosophia SP A L.P.                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |    270822 | OU      | $270821.65    | 0.65%             |  |  |  | Yes           | N/A                | On Loan: No      |
| HOF Capital WH Strategic Opportunities Fund, LP               | HOF Capital WH Strategic Opportunities Fund, LP               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1760000 | OU      | $1760000.00   | 4.24%             |  |  |  | Yes           | N/A                | On Loan: No      |
| HS Investments VI A LP                                        | HS Investments VI A LP                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |    555000 | OU      | $555000.00    | 1.34%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Linden Investors LP                                           | Linden Investors LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1998980 | OU      | $1998980.14   | 4.81%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Point72 Capital, LP                                           | Point72 Capital, LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2920056 | OU      | $2920055.61   | 7.03%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Point72 Hyperscale International LP                           | Point72 Hyperscale International LP                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |    299403 | OU      | $299403.00    | 0.72%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Point72 Hyperscale LP                                         | Point72 Hyperscale LP                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    299974 | OU      | $299974.00    | 0.72%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Quiet Venture III, L.P.                                       | Quiet Venture III, L.P.                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1120288 | OU      | $1120288.00   | 2.70%             |  |  |  | Yes           | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** Destiny Alternative Fund LLC

**Signature:** /s/ Michael D. Peck

**Name of Signer:** Michael D. Peck

**Title:** President