<SEC-DOCUMENT>0001145549-20-060999.txt : 20201022
<SEC-HEADER>0001145549-20-060999.hdr.sgml : 20201022
<ACCEPTANCE-DATETIME>20201022160537
ACCESSION NUMBER:		0001145549-20-060999
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200831
FILED AS OF DATE:		20201022
PERIOD START:           	20210228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Destra Multi-Alternative Fund
		CENTRAL INDEX KEY:			0001523289
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22572
		FILM NUMBER:		201254994

	BUSINESS ADDRESS:	
		STREET 1:		444 WEST LAKE STREET
		STREET 2:		SUITE 1700
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		877-855-3434

	MAIL ADDRESS:	
		STREET 1:		444 WEST LAKE STREET
		STREET 2:		SUITE 1700
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Multi-Strategy Growth & Income Fund
		DATE OF NAME CHANGE:	20110614
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <repPdEnd>2021-02-28</repPdEnd>
      <repPdDate>2020-08-31</repPdDate>
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      <totLiabs>18784538.870000000000</totLiabs>
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        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>HEALTHCARE TRUST, INC.   /</name>
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        <name>American Campus Communities In</name>
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        <name>AIM INFRASTRUCTURE  MLP FUND II   /</name>
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        <name>ARBORETUM CORE ASSET FUND, LP   /</name>
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        <name>Bristol-Myers Squibb Co</name>
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        <name>CLARION LION  INDUSTRIAL TRUST   /</name>
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        <name>CLARION LION PROPERTIES FUND   /</name>
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        <name>COLLINS MASTERS  ACCESS FUND,, Ltd.   /</name>
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        <name>Facebook Inc</name>
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        <name>Fidelity Government Portfolio</name>
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        <name>GOSITE,, Inc.    /</name>
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        <name>GREENACREAGE REAL ESTATE   /</name>
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        <name>IFF</name>
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        <name>iShares Transportation Average</name>
        <lei>54930060GGS23N7A3X92</lei>
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        <name>LEVINE LEICHTMAN  CAPITAL PARTNERS   /</name>
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        <name>LONGLEY PARTNERS  VENTURES L.P.   /</name>
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        <name>Lowe's Cos Inc</name>
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        <name>Madison Square Garden Entertai</name>
        <lei>N/A</lei>
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        <name>N1 LIQUIDATING TRUST    /</name>
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        <name>NorthStar Healthcare Income In</name>
        <lei>N/A</lei>
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        <name>Owl Rock Capital Corp</name>
        <lei>2549000BD79OOCPF2L94</lei>
        <title>Owl Rock Capital Corp.</title>
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        <name>Outfront Media Inc</name>
        <lei>549300RZWDYU5722I639</lei>
        <title>Outfront Media, Inc., REIT</title>
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      </invstOrSec>
      <invstOrSec>
        <name>OVATION ALTERNATIVE  INCOME FUND, LP   /</name>
        <lei>N/A</lei>
        <title>OVATION ALTERNATIVE  INCOME FUND, LP   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="OVAALTIN"/>
        </identifiers>
        <balance>1</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>5563574.53</valUSD>
        <pctVal>5.0084314551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sprott Physical Gold Trust</name>
        <lei>N/A</lei>
        <title>Sprott Physical Gold Trust</title>
        <cusip>85207H104</cusip>
        <identifiers>
          <isin value="CA85207H1047"/>
          <ticker value="PHYS"/>
        </identifiers>
        <balance>216917</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3396920.22</valUSD>
        <pctVal>3.0579696540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRESERVATION REIT 1, Inc.   /</name>
        <lei>N/A</lei>
        <title>PRESERVATION REIT 1, Inc.   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="PRESREIT"/>
        </identifiers>
        <balance>159.46</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>6333079.87</valUSD>
        <pctVal>5.7011542234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sprott Physical Silver Trust</name>
        <lei>N/A</lei>
        <title>Sprott Physical Silver Trust</title>
        <cusip>85207K107</cusip>
        <identifiers>
          <isin value="CA85207K1075"/>
          <ticker value="PSLV"/>
        </identifiers>
        <balance>115000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1151150</valUSD>
        <pctVal>1.0362862650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QTS Realty Trust Inc</name>
        <lei>5493006PA4CJK4OG2J54</lei>
        <title>QTS Realty Trust, Inc., Class A, REIT</title>
        <cusip>74736A103</cusip>
        <identifiers>
          <isin value="US74736A1034"/>
          <ticker value="QTS"/>
        </identifiers>
        <balance>25000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1695500</valUSD>
        <pctVal>1.5263200819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity-Reit"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Direxion Daily S&amp;P 500 Bull 3X</name>
        <lei>WJRYIWB43R3GOXOHLG28</lei>
        <title>Direxion Daily S&amp;P 500 Bull 3X</title>
        <cusip>25459W862</cusip>
        <identifiers>
          <isin value="US25459W8626"/>
          <ticker value="SPXL"/>
        </identifiers>
        <balance>-17000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1020000</valUSD>
        <pctVal>-0.9182226385</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STEADFAST APT REIT    /</name>
        <lei>N/A</lei>
        <title>STEADFAST APT REIT    /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="STEADFAS"/>
        </identifiers>
        <balance>167950.5940</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>2345173.70</valUSD>
        <pctVal>2.1111682181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STEPSTONE CAPITAL    /</name>
        <lei>N/A</lei>
        <title>STEPSTONE CAPITAL    /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="STPSTNCA"/>
        </identifiers>
        <balance>1</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>6301030</valUSD>
        <pctVal>5.6723023448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ProShares UltraPro QQQ</name>
        <lei>03026FQTQRJ0JSTBI779</lei>
        <title>ProShares UltraPro QQQ</title>
        <cusip>74347X831</cusip>
        <identifiers>
          <isin value="US74347X8314"/>
          <ticker value="TQQQ"/>
        </identifiers>
        <balance>-4100</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-661576</valUSD>
        <pctVal>-0.5955628042</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TREEHOUSE REIT, INC.    /</name>
        <lei>N/A</lei>
        <title>TREEHOUSE REIT, INC.    /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="TREEHOUS"/>
        </identifiers>
        <balance>715000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>17160000</valUSD>
        <pctVal>15.4477455648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P Retail ETF</name>
        <lei>549300HHG63HQV071458</lei>
        <title>SPDR S&amp;P Retail ETF</title>
        <cusip>78464A714</cusip>
        <identifiers>
          <isin value="US78464A7147"/>
          <ticker value="XRT"/>
        </identifiers>
        <balance>-8000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-414320</valUSD>
        <pctVal>-0.3729784349</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The fund is reporting returns without deducting sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-09-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Destra Multi-Alternative Fund</ncom:nameOfApplicant>
      <ncom:signature>/s/ Derek Mullins</ncom:signature>
      <ncom:signerName>Derek Mullins</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
