NPORT-EX 2 e135523_dmaf.htm DESTRA MULTI ALTERNATIVE NPORT EX

Destra Multi-Alternative Fund

Schedule of Investments

As of June 30, 2022 (unaudited)

Shares

  

Security

  

Value
   

COMMON STOCKS – 20.9%

  

 

  
   

AEROSPACE/DEFENSE – 1.2%

  

 

  

2,248

  

L3Harris Technologies, Inc.

  

$

543,342

1,316

  

Northrop Grumman Corp.

  

 

629,798
       

 

1,173,140
       

 

  
   

AUTO MANUFACTURERS – 0.7%

  

 

  

3,490

  

Cummins, Inc.

  

 

675,420
       

 

  
   

BANKS – 1.1%

  

 

  

47,558

  

Huntington Bancshares, Inc.

  

 

572,123

7,315

  

Morgan Stanley

  

 

556,379
       

 

1,128,502
       

 

  
   

BIOTECHNOLOGY – 0.7%

  

 

  

12,404

  

Corteva, Inc.

  

 

671,553
       

 

  
   

CHEMICALS – 0.6%

  

 

  

4,847

  

International Flavors & Fragrances, Inc.

  

 

577,375
       

 

  
   

CONSUMER – 0.5%

  

 

  

2,090

  

McDonald’s Corp

  

 

515,979
       

 

  
   

ELECTRIC – 0.5%

  

 

  

7,227

  

NextEra Energy, Inc.

  

 

559,803
       

 

  
   

FINANCIAL SERVICES – 0.5%

  

 

  

5,099

  

Blackstone Group, Inc.

  

 

465,182
       

 

  
   

HEALTHCARE-SERVICES – 0.8%

  

 

  

1,630

  

UnitedHealth Group, Inc.

  

 

837,217
       

 

  
   

INSURANCE – 0.5%

  

 

  

7,550

  

Principal Financial Group, Inc.

  

 

504,265
       

 

  
   

INVESTMENT COMPANIES – 0.3%

18,391

  

CION Investment Corp.

  

 

159,999

12,704

  

CION Investment Corp., Tranche C(4)

  

 

110,523
       

 

270,522
       

 

  
   

LISTED BUSINESS DEVELOPMENT
COMPANIES – 4.0%

327,500

  

Owl Rock Capital Corp.(1)

  

 

4,038,075
       

 

  
   

MACHINERY-DIVERSIFIED – 0.3%

1,695

  

Rockwell Automation, Inc.

  

 

337,830
       

 

  
   

MEDIA – 0.5%

  

 

  

12,254

  

Comcast Corp., Class A

  

 

480,847
       

 

  
   

MINING – 0.7%

  

 

  

12,163

  

Newmont Mining Corp.

  

 

725,766
       

 

  
   

MISCELLANEOUS MANUFACTURING – 0.9%

  

 

  

2,618

  

Illinois Tool Works, Inc.

  

 

477,130

1,839

  

Parker-Hannifin Corp.

  

 

452,486
       

 

929,616

Shares

  

Security

  

Value
   

COMMON STOCKS (continued)

  

 

  
   

OIL & GAS – 1.5%

  

 

  

6,284

  

EOG Resources, Inc.

  

$

694,005

3,469

  

Pioneer Natural Resources Co.

  

 

773,864
       

 

1,467,869
       

 

  
   

OIL & GAS SERVICES – 0.6%

  

 

  

21,059

  

Baker Hughes Co

  

 

607,973
       

 

  
   

PHARMACEUTICALS – 0.9%

  

 

  

5,860

  

AbbVie, Inc.

  

 

897,518
       

 

  
   

RETAIL – 0.9%

  

 

  

2,534

  

Target Corp.

  

 

357,877

9,092

  

The TJX Cos., Inc.

  

 

507,788
       

 

865,665
       

 

  
   

SEMICONDUCTORS – 1.0%

  

 

  

3,497

  

Analog Devices, Inc.

  

 

510,877

1,135

  

Broadcom Ltd.

  

 

551,394
       

 

1,062,271
       

 

  
   

SOFTWARE – 0.6%

  

 

  

2,268

  

Microsoft Corp.

  

 

582,490
       

 

  
   

TELECOMMUNICATIONS – 0.6%

  

 

  

20,034

  

Corning, Inc.

  

 

631,271
       

 

  
   

TRANSPORTATION – 1.0%

  

 

  

2,193

  

Union Pacific Corp.

  

 

467,723

3,067

  

United Parcel Service, Inc.,
Class B

  

 

559,850
       

 

1,027,573
   

TOTAL COMMON STOCKS
(Cost $24,233,101)

  

 

21,033,722
       

 

  
   

EXCHANGE-TRADED FUND – 1.1%

22,951

  

KraneShares Global Carbon
ETF(2)

  

 

1,129,878
   

TOTAL EXCHANGE-TRADED FUND
(Cost $860,820)

  

 

1,129,878
       

 

  
   

PRIVATE COMPANIES – 9.8%

  

 

  

254,113

  

Always AI, Inc., Series A-1 Preferred Stock(2)(3)(4)

  

 

828,459

490,767

  

Always AI, Inc., Series B Preferred Stock(2)(3)(4)

  

 

1,599,999

179,641

  

Clear Street Group Inc., Series B Preferred Stock(2)(3)(4)

  

 

1,500,000

23,723

  

Eat Just, Inc., Series F Common Stock(2)(3)(4)

  

 

450,000

542,467

  

GOSITE, Inc., Series A-1 Preferred Stock(2)(3)(4)

  

 

4,680,000

497,216

  

Iridia, Inc., Series A-3 Preferred
Stock(2)(3)(4)

  

 

828,312
   

TOTAL PRIVATE COMPANIES (Cost $6,865,497)

  

 

9,886,770

1

Destra Multi-Alternative Fund

Schedule of Investments (continued)

As of June 30, 2022 (unaudited)

Shares

  

Security

  

Value
   

CONTINGENT VALUE RIGHTS – 1.9%
   

PHARMACEUTICALS – 0.0%

  

 

  

142,000

  

Bristol-Myers Squibb Co.(2)(3)

  

$

—
       

 

  
   

REAL ESTATE – 1.9%

  

 

  

456,540

  

Hospitality Investors
Trust, Inc.(2)(3)(4)

  

 

241,226

579,536

  

Ready Capital Corp.(2)(3)(4)

  

 

1,616,905
       

 

1,858,131
   

TOTAL CONTINGENT VALUE RIGHTS
Cost $9,395,583)

  

 

1,858,131
       

 

  
   

REAL ESTATE INVESTMENT TRUSTS – 35.1%

  

 

  
   

LISTED REAL ESTATE INVESTMENT TRUSTS – 15.0%

  

 

  

40,000

  

American Campus Communities, Inc.

  

 

2,578,800

275,000

  

Newlake Capital Partners, Inc.

  

 

5,087,500

4,175

  

Prologis, Inc., REIT

  

 

491,189

579,536

  

Ready Capital Corp.

  

 

6,908,069
   

TOTAL LISTED REAL ESTATE INVESTMENT TRUSTS

  

 

15,065,558
       

 

  
   

NON-LISTED REAL ESTATE INVESTMENT TRUSTS – 7.9%

  

 

  

311,231

  

Healthcare Trust, Inc., 7.375% Series A Preferred Stock(3)(4)

  

 

4,454,389

1,061,081

  

NorthStar Healthcare Income, Inc., Common Stock(2)(3)(4)

  

 

3,454,559
   

TOTAL NON-LISTED REAL ESTATE INVESTMENT
TRUSTS

  

 

7,908,948
       

 

  
   

PRIVATE REAL ESTATE INVESTMENT TRUSTS – 12.2%

  

 

  

715,000

  

Aventine Property Group, Inc., Common Stock(3)(4)

  

 

4,804,800

715,000

  

Treehouse Real Estate Investment Trust, Inc., Common Stock(3)(4)(5)

  

 

7,475,000
   

TOTAL PRIVATE REAL ESTATE INVESTMENT TRUSTS

  

 

12,279,800
   

TOTAL REAL ESTATE INVESTMENT TRUSTS
(Cost $42,884,977)

  

 

35,254,306
       

 

  
   

ALTERNATIVE INVESTMENT FUNDS – 39.7%

  

 

  

250

  

Arboretum Core Asset
Fund, LP(4)(5)(6)

  

 

2,370,495

—

  

Canyon CLO Fund II LP(3)(4)(7)

  

 

9,673,491

—

  

Canyon CLO Fund III LP(3)(4)(5)(7)

  

 

3,488,092

4,113

  

Clarion Lion Industrial Trust(4)(6)

  

 

15,395,342

Shares

  

Security

  

Value
   

ALTERNATIVE INVESTMENT FUNDS (continued)

  

 

  

 

—

  

Ovation Alternative Income
Fund(4)(6)(7)

  

$

1,457,632

 

159

  

Preservation REIT 1, Inc.(4)(6)(8)

  

 

7,337,392

 

153

  

SGOF Liquidating
Master, Ltd.(2)(4)(6)

  

 

196,346

 
   

TOTAL ALTERNATIVE INVESTMENT FUNDS
(Cost $25,360,937)

  

 

39,918,790

 
     

 
   

SHORT-TERM INVESTMENTS – 9.8%

 
   

MONEY MARKET FUND – 9.8%

  

 

  

 

9,872,808

  

Fidelity Investments Money Market Funds - Government Portfolio, Class I, 1.21%(1)(9)

  

 

9,872,808

 
   

TOTAL SHORT-TERM INVESTMENTS
(Cost $9,872,808)

  

 

9,872,808

 
   

TOTAL INVESTMENTS – 118.3%
(Cost $119,473,723)

  

 

118,954,405

 
   

Liabilities in Excess of Other Assets – (18.3)%

 

 

(18,393,277

)
   

TOTAL NET ASSETS – 100.0%

  

$

100,561,128

 
       

 

  

 
   

EXCHANGE-TRADED FUNDS SOLD SHORT – (1.2)%

  

 

  

 

(9,900)

  

Direxion Daily S&P 500 Bull 3X

  

 

(649,341

)

(1,290)

  

iShares Transportation Average ETF

  

 

(274,641

)

(9,800)

  

ProShares UltraPro QQQ

  

 

(235,200

)
   

TOTAL EXCHANGE-TRADED FUNDS SOLD SHORT
(Proceeds $(802,222))

  

$

(1,159,182

)

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

(2)   Non-income producing security.

(3)   Fair valued using significant unobservable inputs.

(4)   Restricted investments as to resale.

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

(6)   Investments in Alternative Investment Funds are valued using net asset value per share (or it’s equivalent) as practical expedient.

(7)   Alternative investment fund does not issue shares.

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

(9)   The rate is the annualized seven-day yield as of June 30, 2022.

ETF — Exchange-Traded Fund

LP — Limited Partnership

REIT — Real Estate Investment Trusts

2

Destra Multi-Alternative Fund

Schedule of Investments (continued)

As of June 30, 2022 (unaudited)

Restricted securities — Restricted securities are securities that may be resold only upon registration under federal securities laws or in transactions exempt from such registration. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer’s expense either upon demand by the Fund or in connection with another registered offering of the securities. Many restricted securities may be resold in the secondary market in transactions exempt from registration. Such restricted securities may be determined to be liquid under criteria established by the Board. The restricted securities are valued at the price provided by dealers in the secondary market or, if no market prices are available, the fair value as determined in good faith using methods approved by the Board.

Additional information on each restricted investment held by the Fund at June 30, 2022 is as follows:

Security Description

  

Acquisition Date

  

Cost

  

Value

  

% of Net
Assets

Always AI, Inc.

  

1/5/2021

  

$

1,999,998

 

  

$

2,428,458

  

2.4

%

Arboretum Core Asset Fund, LP

  

8/2/2018

  

 

2,500,000

 

  

 

2,370,495

  

2.4

 

Aventine Property Group, Inc.

  

1/13/2021

  

 

5,492,200

 

  

 

4,804,800

  

4.8

 

Canyon CLO Fund II LP

  

2/25/2019

  

 

8,947,609

 

  

 

9,673,491

  

9.6

 

Canyon CLO Fund III LP

  

3/1/2022

  

 

3,592,231

 

  

 

3,488,092

  

3.5

 

Cion Investment Corp., Tranche C

  

4/21/2014

  

 

244,349

 

  

 

110,523

  

0.1

 

Clarion Lion Industrial Trust

  

6/29/2015

  

 

5,570,216

 

  

 

15,395,342

  

15.3

 

Clear Street Group Inc.

  

5/18/2022

  

 

1,500,000

 

  

 

1,500,000

  

1.5

 

Eat Just, Inc.

  

6/11/2021

  

 

515,501

 

  

 

450,000

  

0.4

 

GOSITE, Inc.

  

7/31/2020

  

 

2,099,998

 

  

 

4,680,000

  

4.6

 

Healthcare Trust, Inc.

  

3/30/2012

  

 

4,350,489

 

  

 

4,454,389

  

4.3

 

Hospitality Investors Trust, Inc.

  

2/17/2015

  

 

9,236,371

 

  

 

241,226

  

0.2

 

Iridia, Inc.

  

2/25/2021

  

 

750,000

 

  

 

828,312

  

0.8

 

NorthStar Healthcare Income, Inc.

  

3/29/2012

  

 

6,706,530

 

  

 

3,454,559

  

3.4

 

Ovation Alternative Income Fund

  

7/25/2014

  

 

1,373,715

 

  

 

1,457,632

  

1.4

 

Preservation REIT 1, Inc.

  

10/22/2019

  

 

3,377,166

 

  

 

7,337,392

  

7.3

 

Ready Capital Corp., Contingent Value Rights

  

7/6/2017

  

 

—

(1)

  

 

1,616,905

  

1.6

 

SGOF Liquidating Master, Ltd.

  

6/2/2015

  

 

—

(1)

  

 

196,346

  

0.2

 

Treehouse Real Estate Investment Trust, Inc.

  

12/31/2018

  

 

8,792,962

 

  

 

7,475,000

  

7.4

 

Total

      

$

67,049,335

 

  

$

71,962,962

    

 

(1)     Transferred at no cost as a result of a corporate action.

3