# EDGAR Filing Document

**Accession Number:** 0001854919
**File Stem:** 0000910472-26-008649
**Filing Date:** 2026-6
**Character Count:** 13026
**Document Hash:** d01636c79f77abddd1c2d9e3a5bf4f3a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-008649.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000910472-26-008649

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dynamic Alternatives Fund
- **CENTRAL INDEX KEY:** 0001854919

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23652
- **FILM NUMBER:** 261047963

**BUSINESS ADDRESS:**
- **STREET 1:** 5025 ARLINGTON CENTRE BOULEVARD
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43220
- **BUSINESS PHONE:** 614-273-1000

**MAIL ADDRESS:**
- **STREET 1:** 5025 ARLINGTON CENTRE BOULEVARD
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43220

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Dynamic Alternatives Fund

- **b. Investment Company Act file number:** 811-23652

- **c. CIK number of Registrant:** 0001854919

- **d. LEI of Registrant:** 549300ET5QOX1UUQU108

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

  - **Street Address 1:** 5025 Arlington Centre Blvd.

  - **City:** Columbus

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 43220

  - **Telephone number:** 614-273-1000

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

- **a. Name of Series:** Dynamic Alternatives Fund

- **c. LEI of Series:** 549300ET5QOX1UUQU108

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

- **a. Date of fiscal year-end:** 2026-09-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $421637096.58

**Total Liabilities:** $15794053.88

**Net Assets:** $405843042.70

**Amount of Assets Invested in Other Investment Companies:** $18066606.41

**Cash Not Reported:** $2323792.73

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.72%                | 0.09%                | 0.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-1229597.39                               |
| Month 2  | $-0.15                   | $412612.68                                 |
| Month 3  | $3481847.05              | $-462653.85                                |

### Schedule of Portfolio Investments

| Name   | Title                                                                                   | Identifiers            | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| N/A    | AMG Pantheon Fund LLC                                                                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     42406 | NS      | $1164033.31   | 0.29%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Axonic Strategic Income Fund                                                            | CUSIP: N/A<br>LEI: N/A | Long             | EC               | RF                | US        |   2034288 | NS      | $18105166.74  | 4.46%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Cliffwater Corporate Lending Fund                                                       | CUSIP: N/A<br>LEI: N/A | Long             | EC               | RF                | US        |   2573659 | NS      | $27126368.53  | 6.68%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Stepstone Private Markets                                                               | CUSIP: N/A<br>LEI: N/A | Long             | EC               | RF                | US        |    253109 | NS      | $15548491.95  | 3.83%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FPA New Income, Inc.                                                                    | CUSIP: N/A<br>LEI: N/A | Long             | EC               | RF                | US        |   1759621 | NS      | $17578617.80  | 4.33%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Goldman Sachs Financial Square Government Fund                                          | CUSIP: N/A<br>LEI: N/A | Long             | STIV             | RF                | US        |  39392127 | PA      | $39392126.98  | 9.71%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Hamilton Lane Private Assets Fund                                                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    789040 | NS      | $15406721.49  | 3.80%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | 1WS Credit Income Fund                                                                  | CUSIP: N/A<br>LEI: N/A | Long             | EC               | RF                | US        |    755915 | NS      | $14309462.66  | 3.53%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | AvCap Trading Fund Global Feeder, LP                                                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    279125 | NS      | $46802841.00  | 11.53%            |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | BlackRock Systematic Total Alpha Fund Ltd. Class A1 - Series 1                          | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     12465 | NS      | $15264592.85  | 3.76%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | BlackRock Systematic Total Alpha Fund Ltd. Class A1 - Series 14                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |       850 | NS      | $886739.97    | 0.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | BlackRock Systematic Total Alpha Fund Ltd. Class A1 - Series 15                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |      1000 | NS      | $1034247.87   | 0.25%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Centiva Offshore Fund, Ltd. Series HA - Unrestricted, Initial Series                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     57204 | NS      | $6333357.65   | 1.56%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Cross Ocean Partners GSS Offshore Feeder LP                                             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    333219 | NS      | $36081397.53  | 8.89%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Corbin Hedged Equity Fund LP                                                            | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    148044 | NS      | $20143746.00  | 4.96%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Council Oak Partners Fund I-B, LP                                                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    131127 | NS      | $11530000.00  | 2.84%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | TWG Flying Wasp, LLC                                                                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     76291 | NS      | $7910614.00   | 1.95%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Janus Hederson Biotech Innovation Fund Limited Standard Class - A USD Non-Voting, 02/25 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |      2275 | NS      | $9342852.32   | 2.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Janus Hederson Biotech Innovation Fund Limited Standard Class - A USD Non-Voting, 06/25 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |       874 | NS      | $3587698.65   | 0.88%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Linden International Ltd. Class A - Initial Series                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |      1971 | NS      | $20162057.32  | 4.97%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Linden International Ltd. Class A - Series 01/2026                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |      1500 | NS      | $1566883.00   | 0.39%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Linden International Ltd. Class A - Series 02/2026                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |      1000 | NS      | $1002891.17   | 0.25%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Linden International Ltd. Class A - Series 03/2026                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |      1000 | NS      | $1003973.61   | 0.25%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Merchants Healthcare Fund 1 Onshore                                                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    141206 | NS      | $14688942.87  | 3.62%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | NB Credit Opportunitis Fund II Cayman Feeder LP                                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     46654 | NS      | $4807745.00   | 1.18%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Stone Ridge Energy Acquisition Fund II (PV) LP                                          | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    159813 | NS      | $17093381.00  | 4.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | TCG Elford Broad Investor, LLC                                                          | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   7500000 | PA      | $7699402.00   | 1.90%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Council Oaks SPV II-B, LP                                                               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    150000 | NS      | $15000000.00  | 3.70%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Waterfall Eden Fund, Ltd. DI_03.2023 - Sub-Class B_1                                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |         4 | NS      | $7749.14      | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Waterfall Eden Fund, Ltd. Sub-Class B_2, Series 1 - March 2023                          | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     14313 | NS      | $18351900.36  | 4.52%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Rock Bridge ZaZa Port LLC                                                               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |  10000000 | NS      | $10143561.00  | 2.50%             |  |  |  | Yes           | N/A                | On Loan: No      |

### Signature

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

**Name of Applicant:** Dynamic Alternatives Fund

**Signature:** Zachary P. Richmond

**Name of Signer:** Zachary P. Richmond

**Title:** Treasurer and Principal Financial Officer