# EDGAR Filing Document

**Accession Number:** 0001523289
**File Stem:** 0001752724-25-212801
**Filing Date:** 2025-8
**Character Count:** 86304
**Document Hash:** 50c93723b80da7c2528c7800315bac4d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212801.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212801

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Destra Multi-Alternative Fund
- **CENTRAL INDEX KEY:** 0001523289

**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:** 811-22572
- **FILM NUMBER:** 251279811

**BUSINESS ADDRESS:**
- **STREET 1:** 443 N. WILLSON AVE.
- **CITY:** BOZEMAN
- **STATE:** MT
- **ZIP:** 59715
- **BUSINESS PHONE:** 877-855-3434

**MAIL ADDRESS:**
- **STREET 1:** 443 N. WILLSON AVE.
- **CITY:** BOZEMAN
- **STATE:** MT
- **ZIP:** 59715

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Multi-Strategy Growth & Income Fund
- **DATE OF NAME CHANGE:** 20110614

## Nport-Ex

---

| |
|:---|
| **Destra Multi-Alternative Fund** |
| **Schedule of Investments (unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares/<br> Contracts/<br> Principal** |  | **Fair Value** |
|  | **COMMON STOCKS – 12.7%** |  |
|  | **BANKING – 0.8%** |  |
| 9400 | Bank of America Corp. | $444809 |
| 1306 | JPMorgan Chase & Company | 378622 |
|  |  | **823431** |
|  | **BIOTECH & PHARMA – 0.8%** |  |
| 1463 | Amgen, Inc. | 408485 |
| 2014 | Zoetis, Inc. | 314083 |
|  |  | **722568** |
|  | **BIOTECHNOLOGY – 0.7%** |  |
| 3603 | Corteva, Inc. | 268532 |
| 13708 | Viking Therapeutics, Inc.<sup>(1)</sup> | 363262 |
|  |  | **631794** |
|  | **CHEMICALS – 0.4%** |  |
| 1314 | Ecolab, Inc. | 354044 |
|  | **COMPUTERS – 0.4%** |  |
| 4498 | Cognizant Technology Solutions Corp., Class A | 350979 |
|  | **DIVERSIFIED FINANCIAL SERVICES – 0.3%** |  |
| 843 | American Express Co. | 268900 |
|  | **ELECTRIC – 0.7%** |  |
| 3664 | Carrier Global Corp. | 268168 |
| 4814 | NextEra Energy, Corp. | 334188 |
|  |  | **602356** |
|  | **ELECTRICAL EQUIPMENT – 0.6%** |  |
| 3366 | Johnson Controls International PLC | 355517 |
| 760 | Rockwell Automation, Inc. | 252449 |
|  |  | **607966** |
|  | **FOOD – 0.3%** |  |
| 966 | McDonald's Corp. | 282236 |
|  | **HEALTH CARE – PRODUCTS – 0.4%** |  |
| 2311 | Natera, Inc.<sup>(1)</sup> | 390420 |
|  | **INSTITUTIONAL FINANCIAL SERVICES – 0.4%** |  |
| 1536 | Cboe Global Markets, Inc. | 358211 |
|  | **INSURANCE – 0.9%** |  |
| 5420 | MetLife, Inc. | 435876 |
| 1363 | Travelers Companies, Inc. (The) | 364657 |
|  |  | **800533** |

---

---

| | | |
|:---|:---|:---|
| **Shares/<br> Contracts/<br> Principal** |  | **Fair Value** |
|  | **COMMON STOCKS (continued)** |  |
|  | **LEISURE FACILITIES & SERVICES – 0.6%** |  |
| 1638 | Darden Restaurants, Inc. | $357035 |
| 1743 | Shake Shack, Inc., Class A<sup>(1)</sup> | 245066 |
|  |  | **602101** |
|  | **LEISURE PRODUCTS – 0.3%** |  |
| 297 | Axon Enterprise, Inc.<sup>(1)</sup> | 245898 |
|  | **OIL & GAS PRODUCERS – 0.4%** |  |
| 2454 | Diamondback Energy, Inc. | 337180 |
|  | **PHARMACEUTICALS – 0.8%** |  |
| 2277 | AbbVie, Inc. | 422657 |
| 1999 | Cardinal Health, Inc. | 335832 |
|  |  | **758489** |
|  | **RETAIL – 0.3%** |  |
| 2045 | TJX Companies, Inc. | 252537 |
|  | **RETAIL – DISCRETIONARY – 0.3%** |  |
| 808 | Home Depot, Inc. (The) | 296245 |
|  | **SEMICONDUCTORS – 0.3%** |  |
| 919 | Broadcom, Inc. | 253322 |
|  | **SOFTWARE – 1.5%** |  |
| 1049 | Guidewire Software, Inc.<sup>(1)</sup> | 246987 |
| 930 | Microsoft Corp. | 462591 |
| 1100 | Oracle Corporation | 240493 |
| 1098 | Snowflake, Corp., Class A<sup>(1)</sup> | 245699 |
| 785 | Zscaler, Inc.<sup>(1)</sup> | 246443 |
|  |  | **1442213** |
|  | **TECHNOLOGY HARDWARE – 0.7%** |  |
| 5723 | Cisco Systems, Inc. | 397061 |
| 4789 | Corning, Inc. | 251854 |
|  |  | **648915** |
|  | **TECHNOLOGY SERVICES – 0.4%** |  |
| 4934 | Fidelity National Information Services, Inc. | 401677 |
|  | **TELECOMMUNICATIONS – 0.4%** |  |
| 1531 | T-Mobile US, Inc. | 364776 |
|  | **TOTAL COMMON STOCKS**<br> (Cost $11,581,138) | **11796791** |

---

---

| |
|:---|
| **Destra Multi-Alternative Fund** |
| **Schedule of Investments (unaudited) (continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares/<br> Contracts/<br> Principal** |  | **Fair Value** |
|  | **PRIVATE COMPANIES – 20.0%** |  |
| 400000 | AlwaysAI – Senior Secured Promissory Note, 12.00%, 08/14/25<sup>(2),(3)</sup> | $400000 |
| 950000 | AlwaysAI, Inc., Convertible Debt, 8.00%, 05/31/26<sup>(2),(3)</sup> | 950000 |
| 2000000 | AlwaysAI, Inc., Convertible Debt, 8.00%, 09/29/25<sup>(2),(3)</sup> | 2000000 |
| 254113 | AlwaysAI, Inc., Series A-1 Preferred Stock<sup>(1),(2),(3)</sup> | 767218 |
| 490767 | AlwaysAI, Inc., Series B Preferred Stock<sup>(1),(2),(3)</sup> | 1698545 |
| 179641 | Clear Street Group Inc., Series B-1 Preferred Stock<sup>(1),(2),(3)</sup> | 2094614 |
| 332938 | Copia Wealth Studios Common Shares<sup>(1),(2),(3)</sup> | 676763 |
| 1064396 | Copia Wealth Studios Series Seed-2 Preferred Shares<sup>(1),(2),(3)</sup> | 3059713 |
| 23723 | Eat Just, Inc., Series F Common Stock<sup>(1),(2),(3)</sup> | 437689 |
| 270367 | Home Services Champ, Inc., Common Stock (formerly GOSITE, Inc., Series A-1 Common Stock)<sup>(1),(2),(3)</sup> | 1208540 |
| 937500 | Iridia, Inc., Convertible Debt, 8.00%, 12/12/27<sup>(2),(3)</sup> | 997829 |
| 497216 | Iridia, Inc., Series A-3 Preferred Stock<sup>(1),(2),(3)</sup> | 772027 |
| 302525 | Nurture Life, Inc., Series B-1 Preferred Stock<sup>(1),(2),(3)</sup> | 499923 |
| 2085412 | Nurture Life, Inc., Series B-2 Preferred Stock<sup>(1),(2),(3)</sup> | 2993817 |
|  |  | **18556678** |
|  | **TOTAL PRIVATE COMPANIES**<br> (Cost $17,410,683) | **18556678** |
|  | **REAL ESTATE INVESTMENT TRUSTS – 18.2%** |  |
|  | **LISTED REAL ESTATE INVESTMENT TRUSTS – 7.1%** |  |
| 2984 | American Tower Corp., A | 659524 |
| 2798 | AvalonBay Communities, Inc. | 569393 |
| 6109 | Digital Realty Trust, Inc. | 1064982 |
| 689 | Equinix, Inc. | 548079 |
| 17773 | Invitation Homes, Inc. | 582954 |
| 4095 | Prologis, Inc. | 430466 |
| 12647 | Rexford Industrial Realty, Inc. | 449854 |
| 23859 | VICI Properties, Inc. | 777803 |
| 10080 | Welltower, Inc. | 1549599 |
|  | **TOTAL LISTED REAL ESTATE INVESTMENT TRUSTS** | **6632654** |

---

---

| | | |
|:---|:---|:---|
| **Shares/<br> Contracts/<br> Principal** |  | **Fair Value** |
|  | **REAL ESTATE INVESTMENT TRUSTS (continued)** |  |
|  | **NON-LISTED REIT – 3.0%** |  |
| 86203 | National Healthcare Properties, Inc., Common Stock (formerly Healthcare Trust, Inc., Common Stock)<sup>(1),(2),(3)</sup>\* | $2732924 |
|  | **TOTAL NON-LISTED REIT** | **2732924** |
|  | **PRIVATE REAL ESTATE INVESTMENT TRUSTS – 8.1%** |  |
| 715000 | Aventine Property Group, Inc., Common Stock<sup>(2),(3)</sup> | 5162300 |
| 715000 | Treehouse Real Estate Investment Trust, Inc., Common Stock<sup>(1),(2),(3)</sup> | 2345200 |
|  | **TOTAL PRIVATE REAL ESTATE INVESTMENT TRUSTS** | **7507500** |
|  | **TOTAL REAL ESTATE INVESTMENT TRUSTS** <br> (Cost $28,533,506) | **16873078** |
|  | **ALTERNATIVE INVESTMENT FUNDS – 34.3%** |  |
| 250 | Arboretum Core Asset Fund, L.P.<sup>(3),(4)</sup> | 1961247 |
|  | Canyon CLO Fund II L.P.<sup>(2),(3),(5)</sup> | 7126096 |
|  | Canyon CLO Fund III Cayman Ltd<sup>(2),(3),(5)</sup> | 15707094 |
| 372 | Clarion Lion Industrial Trust<sup>(3),(4)</sup> | 1372630 |
| 159 | Preservation REIT 1, Inc.<sup>(1),(3),(4)</sup> | 5610356 |
|  | **TOTAL ALTERNATIVE INVESTMENT FUNDS**<br> (Cost $25,629,112) | **31777423** |
|  | **EXCHANGE-TRADED FUNDS – 2.8%** |  |
|  | **EQUITY – 0.5%** |  |
| 17005 | Direxion Daily Real Estate Bear 3X Shares | 428866 |
|  | **FIXED INCOME – 2.3%** |  |
| 42305 | Janus Henderson AAA CLO ETF | 2146979 |
|  | **TOTAL EXCHANGE-TRADED FUNDS**<br> (Cost $2,700,633) | **2575845** |
|  | **MEDIUM TERM NOTES – 8.3%** |  |
|  | **DIVERSIFIED FINANCIAL SERVICES – 8.3%** |  |
| 1250000 | Barclays Bank PLC, 0.00%, 04/14/27<sup>(2),(3),(6)</sup> | 1250000 |
| 1250000 | Barclays Bank PLC, 0.00%, 04/14/27<sup>(2),(3),(6)</sup> | 1250000 |
| 1750000 | BNP Paribas S.A., 0.00%, 03/08/27<sup>(2),(3)</sup> | 1750000 |
| 1750000 | BNP Paribas S.A., 0.00%, 03/08/27<sup>(2),(3)</sup> | 1750000 |

---

---

| |
|:---|
| **Destra Multi-Alternative Fund** |
| **Schedule of Investments (unaudited) (continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares/<br> Contracts/<br> Principal** |  | **Fair Value** |
|  | **MEDIUM TERM NOTES (continued)** |  |
|  | **DIVERSIFIED FINANCIAL SERVICES (continued)** |  |
| 850000 | Goldman Sachs Finance Corp., 0.00%, 04/20/27<sup>(2),(3)</sup> | $850000 |
| 850000 | Goldman Sachs Finance Corp., 0.00%, 04/22/27<sup>(2),(3)</sup> | 850000 |
|  | **TOTAL MEDIUM TERM NOTES** <br> (Cost $7,700,000) | **7700000** |
|  | **WARRANTS – 0.6%** |  |
|  | **FOOD – 0.6%** |  |
| 878570 | Nurture Life, Inc., 12/24/32<sup>(1),(2),(3)</sup> | 524243 |
|  | **SOFTWARE – 0.0%<sup>(7)</sup>** |  |
| 1 | AlwaysAI, Inc., 09/29/33<sup>(1),(2),(3)</sup> |  |
|  | **TOTAL WARRANTS**<br> (Cost $0) | **524243** |
|  | **CONTINGENT VALUE RIGHTS – 0.3%** |  |
|  | **PHARMACEUTICALS – 0.0%<sup>(7)</sup>** |  |
| 142000 | Bristol-Myers Squibb Co., 03/31/21<sup>(1),(2)</sup> |  |
|  | **REAL ESTATE – 0.3%** |  |
| 456540 | Hospitality Investors Trust, Inc., 06/29/26<sup>(1),(2),(3)</sup>\* | 241226 |
| 579536 | Ready Capital Corp., 03/16/25<sup>(1),(2),(3)</sup>\* |  |
|  | **TOTAL CONTINGENT VALUE RIGHTS**<br> (Cost $10,690,110) | **241226** |
|  | **SHORT-TERM INVESTMENTS – 9.5%** |  |
|  | **MONEY MARKET FUNDS – 9.5%** |  |
| 8819527 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<br> (Cost $8,819,527)<sup>(8),(9)</sup> | 8819527 |
|  | **PURCHASED OPTIONS CONTRACTS\* – 2.3%** |  |
|  | **CALL OPTIONS – 2.3%** |  |
| 9 | Adobe, Inc. <br>Exercise Price: $615, <br>Notional Amount: $553,500, <br>Expiration Date: 08/15/2025<sup>(1)</sup> | 572 |
| 6 | Adobe, Inc. <br>Exercise Price: $670, <br>Notional Amount: $402,000, <br>Expiration Date: 08/15/2025<sup>(1)</sup> | 258 |
| 12 | Adobe, Inc. <br>Exercise Price: $590, <br>Notional Amount: $708,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 486 |
| 9 | Adobe, Inc. <br>Exercise Price: $460, <br>Notional Amount: $414,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 18293 |

---

---

| | |
|:---|:---|
| **Shares/<br> Contracts/<br> Principal** | **Fair Value** |
| 8 Adobe, Inc. <br>Exercise Price: $500, <br>Notional Amount: $400,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | $10104 |
| 37 Advanced Micro Devices, Inc. <br>Exercise Price: $140, <br>Notional Amount: $518,000, <br>Expiration Date: 07/18/2025<sup>(1)</sup> | 22755 |
| 37 Advanced Micro Devices, Inc. <br>Exercise Price: $160, <br>Notional Amount: $592,000, <br>Expiration Date: 07/18/2025<sup>(1)</sup> | 2590 |
| 30 Advanced Micro Devices, Inc. <br>Exercise Price: $175, <br>Notional Amount: $525,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 9450 |
| 24 Advanced Micro Devices, Inc. <br>Exercise Price: $195, <br>Notional Amount: $468,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 3528 |
| 35 Affirm Holdings, Inc. <br>Exercise Price: $90, <br>Notional Amount: $315,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 9555 |
| 8 AppLovin Corp. <br>Exercise Price: $390, <br>Notional Amount: $312,000, <br>Expiration Date: 11/21/2025<sup>(1)</sup> | 44560 |
| 91 Block, Inc. <br>Exercise Price: $100, <br>Notional Amount: $910,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 4550 |
| 50 Block, Inc. <br>Exercise Price: $73, <br>Notional Amount: $365,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 40500 |
| 56 Block, Inc. <br>Exercise Price: $75, <br>Notional Amount: $420,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 49840 |
| 58 Cava Group, Inc. <br>Exercise Price: $145, <br>Notional Amount: $841,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 2465 |
| 52 Cava Group, Inc. <br>Exercise Price: $160, <br>Notional Amount: $832,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 2938 |
| 22 Cava Group, Inc. <br>Exercise Price: $105, <br>Notional Amount: $231,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 15400 |
| 39 Cava Group, Inc. <br>Exercise Price: $120, <br>Notional Amount: $468,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 15990 |

---

---

| |
|:---|
| **Destra Multi-Alternative Fund** |
| **Schedule of Investments (unaudited) (continued)** |
| **June 30, 2025** |

---

---

| | |
|:---|:---|
| **Shares/<br> Contracts/<br> Principal** | **Fair Value** |
| 47 Cava Group, Inc. <br>Exercise Price: $95, <br>Notional Amount: $446,500, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | $58280 |
| 29 Cava Group, Inc. <br>Exercise Price: $105, <br>Notional Amount: $304,500, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 27260 |
| 71 Chipotle Mexican Grill, Inc. <br>Exercise Price: $55, <br>Notional Amount: $390,500, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 47570 |
| 7 Duolingo, Inc. <br>Exercise Price: $540, <br>Notional Amount: $378,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 31255 |
| 4 Eli Lilly & Co. <br>Exercise Price: $920, <br>Notional Amount: $368,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 20500 |
| 5 Eli Lilly & Co. <br>Exercise Price: $860, <br>Notional Amount: $430,000, <br>Expiration Date: 06/18/2026<sup>(1)</sup> | 42675 |
| 16 Flutter Entertainment PLC <br>Exercise Price: $300, <br>Notional Amount: $480,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 37520 |
| 103 Gitlab, Inc. <br>Exercise Price: $85, <br>Notional Amount: $875,500, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 1030 |
| 65 Gitlab, Inc. <br>Exercise Price: $60, <br>Notional Amount: $390,000, <br>Expiration Date: 10/17/2025<sup>(1)</sup> | 9035 |
| 52 Gitlab, Inc. <br>Exercise Price: $63, <br>Notional Amount: $327,600, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 13000 |
| 20 Guidewire Software, Inc. <br>Exercise Price: $250, <br>Notional Amount: $500,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 42500 |
| 19 Guidewire Software, Inc. <br>Exercise Price: $260, <br>Notional Amount: $494,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 31920 |
| 26 Howmet Aerospace, Inc. <br>Exercise Price: $180, <br>Notional Amount: $468,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 65520 |

---

---

| | |
|:---|:---|
| **Shares/<br> Contracts/<br> Principal** | **Fair Value** |
| 22 Howmet Aerospace, Inc. <br>Exercise Price: $200, <br>Notional Amount: $440,000, <br>Expiration Date: 06/18/2026<sup>(1)</sup> | $53900 |
| 6 HubSpot, Inc. <br>Exercise Price: $830, <br>Notional Amount: $498,000, <br>Expiration Date: 12/19/2025<sup>(1)</sup> | 4380 |
| 5 HubSpot, Inc. <br>Exercise Price: $700, <br>Notional Amount: $350,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 12735 |
| 5 HubSpot, Inc. <br>Exercise Price: $820, <br>Notional Amount: $410,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 4600 |
| 5 HubSpot, Inc. <br>Exercise Price: $840, <br>Notional Amount: $420,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 3800 |
| 7 HubSpot, Inc. <br>Exercise Price: $600, <br>Notional Amount: $420,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 47985 |
| 7 Meta Platforms, Inc. <br>Exercise Price: $820, <br>Notional Amount: $574,000, <br>Expiration Date: 06/18/2026<sup>(1)</sup> | 56735 |
| 22 Natera, Inc. <br>Exercise Price: $180, <br>Notional Amount: $396,000, <br>Expiration Date: 12/19/2025<sup>(1)</sup> | 35640 |
| 19 Natera, Inc. <br>Exercise Price: $185, <br>Notional Amount: $351,500, <br>Expiration Date: 12/19/2025<sup>(1)</sup> | 28120 |
| 30 Natera, Inc. <br>Exercise Price: $190, <br>Notional Amount: $570,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 43500 |
| 4 Netflix, Inc. <br>Exercise Price: $1,400, <br>Notional Amount: $560,000, <br>Expiration Date: 06/18/2026<sup>(1)</sup> | 74392 |
| 34 NVIDIA Corp. <br>Exercise Price: $170, <br>Notional Amount: $578,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 27200 |
| 28 NVIDIA Corp. <br>Exercise Price: $175, <br>Notional Amount: $490,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 17640 |
| 28 NVIDIA Corp. <br>Exercise Price: $180, <br>Notional Amount: $504,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 14140 |

---

---

| |
|:---|
| **Destra Multi-Alternative Fund** |
| **Schedule of Investments (unaudited) (continued)** |
| **June 30, 2025** |

---

---

| | |
|:---|:---|
| **Shares/<br> Contracts/<br> Principal** | **Fair Value** |
| 42 NVIDIA Corp. <br>Exercise Price: $155, <br>Notional Amount: $651,000, <br>Expiration Date: 11/21/2025<sup>(1)</sup> | $83243 |
| 21 Oracle Corporation <br>Exercise Price: $250, <br>Notional Amount: $525,000, <br>Expiration Date: 07/18/2025<sup>(1)</sup> | 735 |
| 30 Palo Alto Networks, Inc. <br>Exercise Price: $225, <br>Notional Amount: $675,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 18000 |
| 63 PayPal Holdings, Inc. <br>Exercise Price: $95, <br>Notional Amount: $598,500, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 2520 |
| 100 Pinterest, Inc. <br>Exercise Price: $47, <br>Notional Amount: $470,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 16500 |
| 100 Pinterest, Inc. <br>Exercise Price: $40, <br>Notional Amount: $400,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 45000 |
| 97 Pinterest, Inc. <br>Exercise Price: $42, <br>Notional Amount: $407,400, <br>Expiration Date: 06/18/2026<sup>(1)</sup> | 44378 |
| 18 Reddit, Inc. <br>Exercise Price: $175, <br>Notional Amount: $315,000, <br>Expiration Date: 11/21/2025<sup>(1)</sup> | 35550 |
| 18 Reddit, Inc. <br>Exercise Price: $210, <br>Notional Amount: $378,000, <br>Expiration Date: 11/21/2025<sup>(1)</sup> | 22500 |
| 37 Rubrik, Inc. <br>Exercise Price: $105, <br>Notional Amount: $388,500, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 39405 |
| 21 Salesforce, Inc. <br>Exercise Price: $380, <br>Notional Amount: $798,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 1554 |
| 20 Salesforce, Inc. <br>Exercise Price: $390, <br>Notional Amount: $780,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 4920 |
| 14 Salesforce, Inc. <br>Exercise Price: $330, <br>Notional Amount: $462,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 18550 |
| 15 Salesforce, Inc. <br>Exercise Price: $350, <br>Notional Amount: $525,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 14025 |

---

---

| | |
|:---|:---|
| **Shares/<br> Contracts/<br> Principal** | **Fair Value** |
| 16 Salesforce, Inc. <br>Exercise Price: $290, <br>Notional Amount: $464,000, <br>Expiration Date: 06/18/2026<sup>(1)</sup> | $51584 |
| 1 Shake Shack, Inc. <br>Exercise Price: $150, <br>Notional Amount: $15,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 1975 |
| 32 Shift4 Payments, Inc. <br>Exercise Price: $100, <br>Notional Amount: $320,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 43520 |
| 36 Shift4 Payments, Inc. <br>Exercise Price: $105, <br>Notional Amount: $378,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 41400 |
| 29 Shopify, Inc. <br>Exercise Price: $130, <br>Notional Amount: $377,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 36105 |
| 51 Shopify, Inc. <br>Exercise Price: $150, <br>Notional Amount: $765,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 35190 |
| 30 Shopify, Inc. <br>Exercise Price: $135, <br>Notional Amount: $405,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 41250 |
| 19 Take-Two Interactive Software, Inc. <br>Exercise Price: $240, <br>Notional Amount: $456,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 59945 |
| 16 Take-Two Interactive Software, Inc. <br>Exercise Price: $250, <br>Notional Amount: $400,000, <br>Expiration Date: 03/20/2026<sup>(1)</sup> | 40864 |
| 9 Tesla, Inc. <br>Exercise Price: $400, <br>Notional Amount: $360,000, <br>Expiration Date: 11/21/2025<sup>(1)</sup> | 20385 |
| 26 Trade Desk, Inc. (The) <br>Exercise Price: $140, <br>Notional Amount: $364,000, <br>Expiration Date: 07/18/2025<sup>(1)</sup> | 13 |
| 46 Trade Desk, Inc. (The) <br>Exercise Price: $150, <br>Notional Amount: $690,000, <br>Expiration Date: 07/18/2025<sup>(1)</sup> | 23 |
| 86 Trade Desk, Inc. (The) <br>Exercise Price: $150, <br>Notional Amount: $1,290,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 2150 |
| 75 Uber Technologies, Inc. <br>Exercise Price: $95, <br>Notional Amount: $712,500, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 48750 |

---

---

| |
|:---|
| **Destra Multi-Alternative Fund** |
| **Schedule of Investments (unaudited) (continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares/<br> Contracts/<br> Principal** |  | **Fair Value** |
|  | **PURCHASED OPTIONS CONTRACTS\* (continued)** |  |
|  | **CALL OPTIONS (continued)** |  |
| 41 | Uber Technologies, Inc.<br>Exercise Price: $100, <br>Notional Amount: $410,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | $35506 |
| 8 | Vertex Pharmaceuticals, Inc.<br>Exercise Price: $500, <br>Notional Amount: $400,000, <br>Expiration Date: 06/18/2026<sup>(1)</sup> | 31600 |
| 6 | Vertex Pharmaceuticals, Inc.<br>Exercise Price: $580, <br>Notional Amount: $348,000, <br>Expiration Date: 06/18/2026<sup>(1)</sup> | 9930 |
| 66 | Vertiv Holdings Company<br> Exercise Price: $140, <br>Notional Amount: $924,000, <br>Expiration Date: 09/19/2025<sup>(1)</sup> | 61050 |
| 27 | Vertiv Holdings Company<br> Exercise Price: $140, <br>Notional Amount: $378,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 45090 |
| 20 | Wix.com Ltd.<br>Exercise Price: $270, <br>Notional Amount: $540,000, <br>Expiration Date: 11/21/2025<sup>(1)</sup> | 3200 |
| 20 | Wix.com Ltd.<br> Exercise Price: $175, <br>Notional Amount: $350,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 30900 |
| 31 | Wix.com Ltd.<br>Exercise Price: $250, <br>Notional Amount: $775,000, <br>Expiration Date: 01/16/2026<sup>(1)</sup> | 9455 |
|  | **TOTAL CALL OPTIONS PURCHASED** <br> (Cost – $3,561,826) | **2103431** |
|  | **TOTAL PURCHASED OPTIONS CONTRACTS** <br> (Cost – $3,561,826) | **2103431** |
|  | **TOTAL INVESTMENTS – 109.0% <br> (Cost $116,626,535)** | **100968242** |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS – (9.0)%** | **(8344408)** |
|  | **NET ASSETS – 100.0%** | $**92623834** |

---

---

| | | |
|:---|:---|:---|
| **Shares/<br> Contracts/<br> Principal** |  | **Fair Value** |
|  | **WRITTEN OPTION CONTRACTS\* – (0.1)%** |  |
|  | **CALL OPTIONS – (0.1)%** |  |
| 94 | Bank of America Corporation<br> Exercise Price: $43, <br>Notional Amount: $408,200, <br>Expiration Date: 07/18/2025<sup>(1)</sup> | $(45214) |
| 11 | Oracle Corporation<br> Exercise Price: $170, <br>Notional Amount: $187,000, <br>Expiration Date: 07/18/2025<sup>(1)</sup> | (55968) |
|  | **TOTAL CALL OPTIONS <br> (Proceeds – $(19966))** | (101182) |
|  | **TOTAL WRITTEN OPTION CONTRACTS <br> (Proceeds – $(19966))** | **(101182)** |
|  | **EXCHANGE-TRADED FUNDS SOLD SHORT – (0.9)%** |  |
|  | **EQUITY – (0.9)%** |  |
| (9800) | ProShares UltraPro QQQ | (813400) |
|  | **TOTAL EXCHANGE-TRADED FUNDS SOLD SHORT – <br> (Proceeds – $167,745)** | **(813400)** |
|  | **TOTAL SHORT SECURITIES – <br> (Proceeds – $(187711))** | $**(914582)** |

---

<sup>(1)</sup> Non-income producing security.

<sup>(2)</sup> Fair valued using significant unobservable inputs.

<sup>(3)</sup> Restricted investment as to resale.

<sup>(4)</sup> Investments in Alternative Investment Funds are valued using net asset value as a practical expedient.

<sup>(5)</sup> Alternative investment fund does not issue shares.

<sup>(6)</sup> Variable rate security; the rate shown represents the rate on June 30, 2025.

<sup>(7)</sup> Percentage rounds to less than 0.1%.

<sup>(8)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

<sup>(9)</sup> All or a portion of this security is held as collateral for securities sold short.

\* All securities are pledged as collateral except for securities identified with a \* superscript.

ETF – Exchange-Traded Fund

LP – Limited Partnership

REIT – Real Estate Investment Trusts

---

| |
|:---|
| **Destra Multi-Alternative Fund** |
| **Schedule of Investments (unaudited) (continued)** |
| **June 30, 2025** |

---

*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 may be 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. The Alternative Investment Funds generally are restricted securities that are subject to substantial holding periods and are not traded in public markets, so that the Fund may not be able to resell some of its investments for extended periods, which may be several years.

Additional information on each restricted investment held by the Fund at June 30, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security Description** | **Acquisition<br> Date** | **Cost** | **Value** | **% of Net<br> Assets** |
| AlwaysAI, Inc., Convertible Debt | 10/2/2023 | $2000000 | $2000000 | 2.2% |
| AlwaysAI, Inc., Convertible Debt | 5/31/2024 | 950000 | 950000 | 1 |
| AlwaysAI, Inc., Preferred Stock | 1/5/2021 | 399999 | 767218 | 0.8 |
| AlwaysAI, Inc., Preferred Stock | 2/22/2022 | 1599999 | 1698545 | 1.8 |
| AlwaysAI, Inc., Senior Secured Promissory Note | 2/5/2025 | 400000 | 400000 | 0.4 |
| AlwaysAI, Inc., Warrants | 10/2/2023 | —<sup>(1)</sup> |  |  |
| Arboretum Core Asset Fund LP | 8/2/2018 | 2315068 | 1961247 | 2.1 |
| Aventine Property Group, Inc. | 1/13/2021 | 5692400 | 5162300 | 5.6 |
| Barclays Bank PLC | 4/9/2025 | 1250000 | 1250000 | 1.3 |
| Barclays Bank PLC | 4/9/2025 | 1250000 | 1250000 | 1.3 |
| BNP Paribas S.A. | 3/3/2025 | 1750000 | 1750000 | 1.9 |
| BNP Paribas S.A. | 3/3/2025 | 1750000 | 1750000 | 1.9 |
| Canyon CLO Fund II L.P. | 2/25/2019 | 6132077 | 7126096 | 7.7 |
| Canyon CLO Fund III (Cayman) Ltd. | 3/1/2022 | 13243419 | 15707094 | 17 |
| Clarion Lion Industrial Trust | 6/29/2015 | 511381 | 1372630 | 1.5 |
| Clear Street Group, Inc. | 5/11/2022 | 1500000 | 2094614 | 2.3 |
| Copia Wealth Studios – Common Shares | 5/22/2024 | 333 | 676763 | 0.7 |
| Copia Wealth Studios – Preferred Shares | 4/1/2024 | 3000000 | 3059713 | 3.3 |
| Eat Just, Inc. | 6/11/2021 | 515501 | 437689 | 0.5 |
| Goldman Sachs Finance Corp. | 4/15/2025 | 850000 | 850000 | 0.9 |
| Goldman Sachs Finance Corp. | 4/15/2025 | 850000 | 850000 | 0.9 |
| Home Services Champ, Inc., Common Stock (formerly GOSITE, Inc., Series A-1 Common Stock) | 7/31/2020 | 2099998 | 1208540 | 1.3 |
| Hospitality Investors Trust, Inc. | 2/17/2015 | 10530898 | 241226 | 0.3 |
| Iridia, Inc., Convertible Debt | 12/23/2024 | 937500 | 997829 | 1.1 |
| Iridia, Inc., Preferred Stock | 2/25/2021 | 750000 | 772027 | 0.8 |
| National Healthcare Properties, Inc., Common Stock (formerly Healthcare Trust, Inc., Common Stock) | 3/30/2012 | 7439974 | 2732924 | 3 |
| Nurture Life, Inc., Preferred Stock | 8/2/2022 | 500000 | 499923 | 0.5 |
| Nurture Life, Inc., Preferred Stock | 2/18/2025 | 2757353 | 2993817 | 3.2 |
| Nurture Life, Inc., Warrants | 12/23/2022 |  | 524243 | 0.6 |
| Preservation REIT 1, Inc. | 10/22/2019 | 3427166 | 5610356 | 6.1 |
| Ready Capital Corp., Contingent Value Rights | 7/6/2017 | —<sup>(1)</sup> |  |  |
| Treehouse Real Estate Investment Trust, Inc. | 12/31/2018 | 8536850 | 2345200 | 2.5 |
| **Total** |  | $**82939916** | $**69039994** | **74.5%** |

---

<sup>(1)</sup> Transferred at no cost as a result of a corporate action.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Destra Multi-Alternative Fund

- **b. Investment Company Act file number:** 811-22572

- **c. CIK number of Registrant:** 0001523289

- **d. LEI of Registrant:** 549300SP0KUS5HR5P569

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

  - **Street Address 1:** 443 N. Willson Ave

  - **City:** Bozeman

  - **State:** MT

  - **Foreign country:** US

  - **Zip / Postal Code:** 59715

  - **Telephone number:** 312-843-6161

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

- **a. Name of Series:** Destra Multi-Alternative Fund

- **c. LEI of Series:** 549300SP0KUS5HR5P569

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $108751570.43

**Total Liabilities:** $16127736.00

**Net Assets:** $92623834.43

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.77%               | -0.76%               | 1.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-280089.65              | $-1124786.94                               |
| Month 2  | $750027.79               | $-1640941.58                               |
| Month 3  | $-5113934.71             | $5763267.73                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Vici Properties Inc                                            | VICI PROPERTIES           | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     23859 | NS      | $777803.40    | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Diamondback Energy Inc                                         | DIAMONDBACK ENER          | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      2454 | NS      | $337179.60    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Shake Shack Inc                                                | SHAKE SHACK IN-A          | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |      1743 | NS      | $245065.80    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Cognizant Technology Solutions Corp.                           | COGNIZANT TECH-A          | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      4498 | NS      | $350978.94    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| AR CAP HOSPITALITY TRUST                                       | AR Cap Hospitality Trust  | CUSIP: 02918F103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    456540 | NS      | $241225.99    | 0.26%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CANYON CLO FUND II L.P.                                        | Canyon CLO Fund II L.P.   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |         1 | NS      | $7126096.26   | 7.69%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ALWAYS AI INC                                                  | AlwaysAI, Inc.Ser A-1 Pfd | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |    254113 | NS      | $767217.97    | 0.83%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                            | ADBE US 08/15/25 C615     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         9 | NC      | $571.50       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CAVA US 03/20/26 C105     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        29 | NC      | $27260.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| National Healthcare Properties, Inc                            | NATIONAL HEALTHCARE PROP  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |     86203 | NS      | $2732924.12   | 2.95%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Direxion Shares ETF Trust                                      | DIREXION DAILY R          | CUSIP: 25460G419<br>LEI: 549300M501IVJM50FG12 | Long             | EC               | RF                | US        |     17005 | NS      | $428866.10    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| COPIA WEALTH STUDIOS                                           | COPIA WEALTH STUDIOS      | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |    332938 | NS      | $676763.07    | 0.73%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                            | VRTX US 06/18/26 C500     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         8 | NC      | $31600.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | LLY US 03/20/26 C920      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         4 | NC      | $20500.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CAVA US 01/16/26 C105     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        22 | NC      | $15400.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | ADBE US 09/19/25 C590     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        12 | NC      | $486.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| McDonald's Corp.                                               | MCDONALDS CORP            | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       966 | NS      | $282236.22    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | DUOL US 03/20/26 C540     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         7 | NC      | $31255.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | HWM US 06/18/26 C200      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        22 | NC      | $53900.00     | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| EAT JUST, INC.                                                 | EAT JUST, INC.            | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |     23723 | NS      | $437689.35    | 0.47%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Corning Incorporated                                           | CORNING INC               | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      4789 | NS      | $251853.51    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Prologis Inc.                                                  | PROLOGIS INC              | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      4095 | NS      | $430466.40    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | NVDA US 09/19/25 C170     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        34 | NC      | $27200.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | UBER US 01/16/26 C100     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        41 | NC      | $35506.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Bristol-Myers Squibb Company                                   | BRISTOL-MYERS SQ          | CUSIP: 110122157<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    142000 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                            | TTD US 07/18/25 C140      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        26 | NC      | $13.00        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank plc                                              | BACR FLOAT 04/14/27       | CUSIP: 06746BK34<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |   1250000 | PA      | $1250000.00   | 1.35%             | 2027-04-14      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                            | GTLB US 09/19/25 C85      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       103 | NC      | $1030.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | XYZ US 09/19/25 C100      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        91 | NC      | $4550.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | HUBS US 03/20/26 C600     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         7 | NC      | $47985.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | AMD US 07/18/25 C140      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        37 | NC      | $22755.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Aventine Property                                              | Aventine Property         | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |    715000 | NS      | $5162300.00   | 5.57%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Zoetis Inc.                                                    | ZOETIS INC                | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      2014 | NS      | $314083.30    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | ORCL US 07/18/25 C250     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        21 | NC      | $735.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | HUBS US 01/16/26 C700     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         5 | NC      | $12735.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Travelers Companies, Inc.                                      | TRAVELERS COS IN          | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      1363 | NS      | $364657.02    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Johnson Controls International PLC                             | JOHNSON CONTROLS          | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |      3366 | NS      | $355516.92    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                                                   | BROADCOM INC              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |       919 | NS      | $253322.35    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | AMD US 07/18/25 C160      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        37 | NC      | $2590.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MetLife Inc.                                                   | METLIFE INC               | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |      5420 | NS      | $435876.40    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| ALWAYS WARRANTS                                                | ALWAYS WARRANTS           | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | US        |         1 | NS      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Axon Enterprise Inc                                            | AXON ENTERPRISE           | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       297 | NS      | $245898.18    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | NFLX US 06/18/26 C1400    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         4 | NC      | $74392.00     | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Rockwell Automation, Inc.                                      | ROCKWELL AUTOMAT          | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |       760 | NS      | $252449.20    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | FOUR US 01/16/26 C100     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        32 | NC      | $43520.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America Corp.                                          | BANK OF AMERICA           | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      9400 | NS      | $444808.00    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp.                                                   | ORACLE CORP               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      1100 | NS      | $240493.00    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| ALWAYS AI CONV 8% 5/31/26                                      | ALWAYS AI CONV 8% 5/31/26 | CUSIP: 0ALWAYCP2<br>LEI: N/A                  | Long             |  | CORP              | US        |    950000 | PA      | $950000.00    | 1.03%             | 2026-05-31      | Fixed         | 8.00%                 | Yes           | 3                  | On Loan: No      |
| IRIDIA, INC                                                    | IRIDIA, INC               | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |    497216 | NS      | $772027.28    | 0.83%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Zscaler Inc                                                    | ZSCALER INC               | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |       785 | NS      | $246442.90    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CRM US 03/20/26 C350      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        15 | NC      | $14025.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| The TJX Companies Inc.                                         | TJX COS INC               | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      2045 | NS      | $252537.05    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | XYZ US 03/20/26 C75       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        56 | NC      | $49840.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | UBER US 09/19/25 C95      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        75 | NC      | $48750.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | NTRA US 12/19/25 C180     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        22 | NC      | $35640.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| BNP Paribas SA                                                 | BNP 0 03/08/27            | CUSIP: 05615HEQ7<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1750000 | PA      | $1750000.00   | 1.89%             | 2027-03-08      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                            | HUBS US 01/16/26 C820     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         5 | NC      | $4600.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CANYON CLO FUND III                                            | CANYON CLO FUND III       | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |         1 | NS      | $15707094.23  | 16.96%            |  |  |  | Yes           | 3                  | On Loan: No      |
| Amgen Inc.                                                     | AMGEN INC                 | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      1463 | NS      | $408484.23    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| ALWAYS AI CONV 8% 5/31/26                                      | ALWAYS AI 12% 08/14/2025  | CUSIP: 0ALWAYCP3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $400000.00    | 0.43%             | 2025-08-14      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| N/A                                                            | TTD US 07/18/25 C150      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        46 | NC      | $23.00        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | AMD US 09/19/25 C175      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        30 | NC      | $9450.00      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | BAC US 07/18/25 C43       | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -94 | NC      | $-45214.00    | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase & Co.                                           | JPMORGAN CHASE            | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1306 | NS      | $378622.46    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CRM US 03/20/26 C330      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        14 | NC      | $18550.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | ADBE US 03/20/26 C500     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         8 | NC      | $10104.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Cboe Global Markets Inc                                        | CBOE GLOBAL MARK          | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      1536 | NS      | $358210.56    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Investments Money Market Government Portfolio Class I | FID-MM GOVT-I             | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |  14228951 | PA      | $14228950.98  | 15.36%            |  |  |  | No            | 1                  | On Loan: No      |
| COPIA WEALTH STUDIOS                                           | COPIA WEALTH STUDIOS      | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |   1064396 | NS      | $3059712.74   | 3.30%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                            | SHOP US 01/16/26 C130     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        29 | NC      | $36105.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| PRESERVATION REIT 1                                            | PRESERVATION REIT 1       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |       159 | NS      | $5610356.00   | 6.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Carrier Global Corporation                                     | CARRIER GLOB              | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      3664 | NS      | $268168.16    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | GWRE US 01/16/26 C250     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        20 | NC      | $42500.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | HUBS US 01/16/26 C840     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         5 | NC      | $3800.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | TTWO US 03/20/26 C250     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        16 | NC      | $40864.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| ALWAYS AI INC                                                  | AlwaysAI, Inc.Ser B Pfd   | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |    490767 | NS      | $1698544.59   | 1.83%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Corteva Inc                                                    | CORTEVA INC               | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      3603 | NS      | $268531.59    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Equinix, Inc.                                                  | EQUINIX INC               | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |       689 | NS      | $548078.83    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| AbbVie Inc.                                                    | ABBVIE INC                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      2277 | NS      | $422656.74    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| BNP Paribas SA                                                 | BNP 0 03/08/27            | CUSIP: 05615HER5<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1750000 | PA      | $1750000.00   | 1.89%             | 2027-03-08      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                            | HUBS US 12/19/25 C830     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         6 | NC      | $4380.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CAVA US 01/16/26 C120     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        39 | NC      | $15990.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | RDDT US 11/21/25 C175     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        18 | NC      | $35550.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | WIX US 01/16/26 C250      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        31 | NC      | $9455.00      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| NUTURE SERIES B                                                | Nurture Life, Inc Ser B-1 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    302525 | NS      | $499922.56    | 0.54%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                            | CAVA US 09/19/25 C145     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        58 | NC      | $2465.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | ADBE US 08/15/25 C670     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         6 | NC      | $258.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | XYZ US 01/16/26 C72.5     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        50 | NC      | $40500.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | APP US 11/21/25 C390      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         8 | NC      | $44560.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | FLUT US 01/16/26 C300     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        16 | NC      | $37520.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Home Service Champ, Inc                                        | Home Service Champ, Inc   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    270367 | NS      | $1208540.49   | 1.30%             |  |  |  | Yes           | 3                  | On Loan: No      |
| READY CAP CORP RIGHTS                                          | READY CAP CORP RIGHTS     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    579536 | NS      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                            | HWM US 01/16/26 C180      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        26 | NC      | $65520.00     | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity National Information Services Inc                     | FIDELITY NATIONA          | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      4934 | NS      | $401676.94    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | TSLA US 11/21/25 C400     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         9 | NC      | $20385.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| American Express Company                                       | AMERICAN EXPRESS          | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       843 | NS      | $268900.14    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| AvalonBay Communities, Inc.                                    | AVALONBAY COMMUN          | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |      2798 | NS      | $569393.00    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Darden Restaurants, Inc.                                       | DARDEN RESTAURAN          | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |      1638 | NS      | $357034.86    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Cisco Systems, Inc.                                            | CISCO SYSTEMS             | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      5723 | NS      | $397061.74    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | FOUR US 01/16/26 C105     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        36 | NC      | $41400.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Cardinal Health, Inc.                                          | CARDINAL HEALTH           | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      1999 | NS      | $335832.00    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | PINS US 01/16/26 C47      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       100 | NC      | $16500.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Guidewire Software Inc                                         | GUIDEWIRE SOFTWA          | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      1049 | NS      | $246987.05    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CAVA US 09/19/25 C160     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        52 | NC      | $2938.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | RBRK US 01/16/26 C105     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        37 | NC      | $39405.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | WIX US 11/21/25 C270      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        20 | NC      | $3200.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| T-Mobile US Inc                                                | T-MOBILE US INC           | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      1531 | NS      | $364776.06    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | NVDA US 11/21/25 C155     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        42 | NC      | $83244.00     | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | GWRE US 01/16/26 C260     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        19 | NC      | $31920.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | RDDT US 11/21/25 C210     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        18 | NC      | $22500.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | TTD US 09/19/25 C150      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        86 | NC      | $2150.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | GTLB US 01/16/26 C62.5    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        52 | NC      | $13000.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| ALWAYS AI CONV 8% 5/31/26                                      | ALWAYS AI 8.0% 9/29/25    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2000000.00   | 2.16%             | 2025-09-29      | Fixed         | 8.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                            | VRT US 09/19/25 C140      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        66 | NC      | $61050.00     | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | GTLB US 10/17/25 C60      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        65 | NC      | $9035.00      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Rexford Industrial Realty Inc.                                 | REXFORD INDUSTRI          | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     12647 | NS      | $449853.79    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CRM US 01/16/26 C390      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        20 | NC      | $4920.00      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Janus Detroit Street Trust                                     | JAN HEND AAA CLO          | CUSIP: 47103U845<br>LEI: 5493003MM7OCK5UJW595 | Long             | EC               | RF                | US        |     42305 | NS      | $2146978.75   | 2.32%             |  |  |  | No            | 1                  | On Loan: No      |
| ARBORETUM CORE ASSET FUND                                      | Arboretum Core Asset Fund | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |       250 | NS      | $1961247.00   | 2.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| GS Finance Corp                                                | GS 0 04/20/27             | CUSIP: 40058HPT0<br>LEI: 549300FR80KBVO6DRL61 | Long             | DBT              | CORP              | US        |    850000 | PA      | $850000.00    | 0.92%             | 2027-04-20      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Microsoft Corp.                                                | MICROSOFT CORP            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |       930 | NS      | $462591.30    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Viking Therapeutics Inc.                                       | VIKING THERAPEUT          | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |     13708 | NS      | $363262.00    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | NVDA US 09/19/25 C175     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        28 | NC      | $17640.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | SHOP US 03/20/26 C135     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        30 | NC      | $41250.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Natera Inc.                                                    | NATERA INC                | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2311 | NS      | $390420.34    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | VRT US 01/16/26 C140      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        27 | NC      | $45090.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| CLEAR STREET GROUP                                             | CLEAR STREET GROUP        | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |    179641 | NS      | $2094614.06   | 2.26%             |  |  |  | Yes           | 3                  | On Loan: No      |
| NUTURE SERIES B                                                | NURTURE LIFE, INC SER B-2 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   2085412 | NS      | $2993817.47   | 3.23%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                            | PYPL US 09/19/25 C95      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        63 | NC      | $2520.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | META US 06/18/26 C820     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         7 | NC      | $56735.00     | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | VRTX US 06/18/26 C580     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         6 | NC      | $9930.00      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| TREEHOUSE REAL ESTATE INV                                      | Treehouse Real Estate Inv | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |    715000 | NS      | $2345200.00   | 2.53%             |  |  |  | Yes           | 3                  | On Loan: No      |
| American Tower Corporation                                     | AMERICAN TOWER C          | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      2984 | NS      | $659523.68    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CMG US 01/16/26 C55       | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        71 | NC      | $47570.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CRM US 09/19/25 C380      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        21 | NC      | $1554.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | LLY US 06/18/26 C860      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         5 | NC      | $42675.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | SHAK US 03/20/26 C150     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         1 | NC      | $1975.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | ADBE US 03/20/26 C460     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         9 | NC      | $18292.50     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Snowflake Inc                                                  | SNOWFLAKE INC-A           | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      1098 | NS      | $245699.46    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | NTRA US 01/16/26 C190     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        30 | NC      | $43500.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Home Depot Inc.                                                | HOME DEPOT INC            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       808 | NS      | $296245.12    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CRM US 06/18/26 C290      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        16 | NC      | $51584.00     | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| ProShares Trust                                                | PROSHARES UL QQQ          | CUSIP: 74347X831<br>LEI: 5493005D9DS7C1P5AM59 | Short            | EC               | RF                | US        |     -9800 | NS      | $-813400.00   | -0.88%            |  |  |  | No            | 1                  | On Loan: No      |
| NextEra Energy Inc                                             | NEXTERA ENERGY            | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      4814 | NS      | $334187.88    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | SHOP US 01/16/26 C150     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        51 | NC      | $35190.00     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | ORCL US 07/18/25 C170     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -11 | NC      | $-55968.00    | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | CAVA US 03/20/26 C95      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        47 | NC      | $58280.00     | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Invitation Homes Inc.                                          | INVITATION HOMES          | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |     17773 | NS      | $582954.40    | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | NVDA US 09/19/25 C180     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        28 | NC      | $14140.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| CLARION LION INDUSTRIAL                                        | CLARION LION INDUSTRIAL   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |       372 | NS      | $1372629.64   | 1.48%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Digital Realty Trust Inc.                                      | DIGITAL REALTY            | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      6109 | NS      | $1064981.97   | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Welltower OP LLC                                               | WELLTOWER INC             | CUSIP: 95040Q104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10080 | NS      | $1549598.40   | 1.67%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | AMD US 09/19/25 C195      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        24 | NC      | $3528.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | PANW US 09/19/25 C225     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        30 | NC      | $18000.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| NUTURE SERIES B                                                | NURTURE LIFE, INC         | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | US        |    878570 | NS      | $524242.72    | 0.57%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                            | TTWO US 03/20/26 C240     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        19 | NC      | $59945.00     | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | NTRA US 12/19/25 C185     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        19 | NC      | $28120.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank plc                                              | BACR FLOAT 04/14/27       | CUSIP: 06746BK42<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |   1250000 | PA      | $1250000.00   | 1.35%             | 2027-04-14      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| IRIDIA, INC                                                    | IRIDIA, INC 8% 12/12/2027 | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |    937500 | PA      | $997828.77    | 1.08%             | 2027-12-12      | Fixed         | 8.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                            | AFRM US 09/19/25 C90      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        35 | NC      | $9555.00      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | PINS US 06/18/26 C42      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        97 | NC      | $44377.50     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                            | WIX US 01/16/26 C175      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        20 | NC      | $30900.00     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Ecolab Inc.                                                    | ECOLAB INC                | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      1314 | NS      | $354044.16    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| GS Finance Corp                                                | GS 0 04/22/27             | CUSIP: 40058HPS2<br>LEI: 549300FR80KBVO6DRL61 | Long             | DBT              | CORP              | US        |    850000 | PA      | $850000.00    | 0.92%             | 2027-04-22      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                            | PINS US 03/20/26 C40      | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       100 | NC      | $45000.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Destra Multi Alternative Fund

**Signature:** Derek Mullins

**Name of Signer:** Derek Mullins

**Title:** Chief Financial Officer