| Destra Multi-Alternative Fund |
| Schedule of Investments (unaudited) |
| December 31, 2025 |
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| COMMON STOCKS – 18.8% | ||||||||
| AEROSPACE & DEFENSE – 0.8% | ||||||||
| 922 | Axon Enterprise, Inc.(1) | $ | 523,632 | |||||
| 2,540 | Rocket Lab Corp.(1) | 177,190 | ||||||
| 700,822 | ||||||||
| ASSET MANAGEMENT – 0.6% | ||||||||
| 4,861 | Etoro Group Ltd.(1) | 170,767 | ||||||
| 9,072 | Planet Labs PBC(1) | 178,899 | ||||||
| 1,447 | Robinhood Markets, Inc., Class A(1) | 163,656 | ||||||
| 513,322 | ||||||||
| BANKS – 0.9% | ||||||||
| 3,550 | Bank of America Corp. | 195,250 | ||||||
| 4,221 | Citizens Financial Group, Inc. | 246,549 | ||||||
| 1,077 | JPMorgan Chase & Company | 347,031 | ||||||
| 788,830 | ||||||||
| BIOTECH & PHARMA – 1.5% | ||||||||
| 20,768 | ADMA Biologics, Inc.(1) | 378,808 | ||||||
| 1,432 | Amgen, Inc. | 468,708 | ||||||
| 298 | Madrigal Pharmaceuticals, Inc.(1) | 173,537 | ||||||
| 3,308 | Zoetis, Inc. | 416,213 | ||||||
| 1,437,266 | ||||||||
| CHEMICALS – 0.4% | ||||||||
| 1,314 | Ecolab, Inc. | 344,951 | ||||||
| COMMERCIAL SERVICES – 0.4% | ||||||||
| 4,414 | Affirm Holdings, Inc., Class A(1) | 328,534 | ||||||
| COMPUTERS – 0.2% | ||||||||
| 2,348 | Cognizant Technology Solutions Corp., Class A | 194,884 | ||||||
| DIVERSIFIED FINANCIAL SERVICES – 0.3% | ||||||||
| 658 | American Express Co. | 243,427 | ||||||
| E-COMMERCE DISCRETIONARY – 0.4% | ||||||||
| 4,030 | eBay, Inc. | 351,013 | ||||||
| ELECTRIC – 1.0% | ||||||||
| 7,866 | Carrier Global Corp. | 415,639 | ||||||
| 4,814 | NextEra Energy, Corp. | 386,468 | ||||||
| 802,107 | ||||||||
| ELECTRIC UTILITIES – 0.4% | ||||||||
| 3,816 | Ameren Corp. | 381,066 | ||||||
| ELECTRICAL EQUIPMENT – 1.2% | ||||||||
| 3,059 | Johnson Controls International PLC | 366,315 | ||||||
| 821 | Rockwell Automation, Inc. | 319,426 | ||||||
| 2,701 | Vertiv Holdings Co., Class A | 437,590 | ||||||
| 1,123,331 | ||||||||
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| COMMON STOCKS (continued) | ||||||||
| FOOD – 0.4% | ||||||||
| 1,205 | McDonald’s Corp. | $ | 368,284 | |||||
| HEALTH CARE – PRODUCTS – 0.4% | ||||||||
| 1,530 | Natera, Inc.(1) | 350,508 | ||||||
| INSTITUTIONAL FINANCIAL SERVICES – 0.4% | ||||||||
| 1,483 | Cboe Global Markets, Inc. | 372,233 | ||||||
| INSURANCE – 1.0% | ||||||||
| 6,376 | MetLife, Inc. | 503,321 | ||||||
| 1,626 | Travelers Companies, Inc. (The) | 471,638 | ||||||
| 974,959 | ||||||||
| INTERNET MEDIA & SERVICES – 0.6% | ||||||||
| 2,584 | Reddit, Inc., Class A(1) | 593,984 | ||||||
| LEISURE FACILITIES & SERVICES – 1.0% | ||||||||
| 2,178 | Darden Restaurants, Inc. | 400,796 | ||||||
| 5,956 | Shake Shack, Inc., Class A(1) | 483,448 | ||||||
| 884,244 | ||||||||
| MACHINERY: DIVERSIFIED – 0.3% | ||||||||
| 534 | Deere & Co. | 248,614 | ||||||
| MEDICAL EQUIPMENT & DEVICES – 0.2% | ||||||||
| 1,530 | Glaukos Corp.(1) | 172,752 | ||||||
| PHARMACEUTICALS – 0.8% | ||||||||
| 2,146 | AbbVie, Inc. | 490,339 | ||||||
| 963 | Cardinal Health, Inc. | 197,897 | ||||||
| 688,236 | ||||||||
| RETAIL – 0.4% | ||||||||
| 2,461 | TJX Companies, Inc. | 378,034 | ||||||
| SEMICONDUCTORS – 0.5% | ||||||||
| 1,305 | Broadcom, Inc. | 451,661 | ||||||
| SOFTWARE – 2.7% | ||||||||
| 2,525 | Cloudflare, Inc., Class A(1) | 497,803 | ||||||
| 361 | Crowdstrike Holdings, Inc., Class A(1) | 169,222 | ||||||
| 846 | Microsoft Corp. | 409,143 | ||||||
| 9,501 | Oddity Tech Ltd., Class A(1) | 381,750 | ||||||
| 9,373 | Onestream, Inc.(1) | 172,276 | ||||||
| 1,590 | Oracle Corp. | 309,907 | ||||||
| 922 | Palantir Technologies, Inc., Class A(1) | 163,886 | ||||||
| 22,145 | Zeta Global Holdings Corp., Class A(1) | 450,650 | ||||||
| 2,554,637 | ||||||||
1
| Destra Multi-Alternative Fund |
| Schedule of Investments (unaudited) (continued) |
| December 31, 2025 |
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| COMMON STOCKS (continued) | ||||||||
| TECHNOLOGY HARDWARE – 1.1% | ||||||||
| 6,315 | Cisco Systems, Inc. | $ | 486,445 | |||||
| 3,575 | Corning, Inc. | 313,027 | ||||||
| 1,181 | Credo Technology Group Holding Ltd.(1) | 169,934 | ||||||
| 969,406 | ||||||||
| TECHNOLOGY SERVICES – 0.4% | ||||||||
| 1,089 | International Business Machines Corp. | 322,573 | ||||||
| TELECOMMUNICATIONS – 0.5% | ||||||||
| 2,019 | T-Mobile US, Inc. | 409,938 | ||||||
| TOTAL COMMON STOCKS (Cost $17,536,144) |
16,949,616 | |||||||
| PRIVATE COMPANIES – 24.5% | ||||||||
| 798,000 | AlwaysAI, Inc. - Senior Secured Promissory Note 12.00% 02/28/26(2),(3) | 798,000 | ||||||
| 950,000 | AlwaysAI, Inc., Convertible Debt 8.00% 05/31/26(2),(3) | 950,000 | ||||||
| 2,000,000 | AlwaysAI, Inc., Convertible Debt 8.00% 01/31/26(2),(3) | 2,000,000 | ||||||
| 254,113 | AlwaysAI, Inc., Series A-1 Preferred Stock(1),(2),(3) | 799,871 | ||||||
| 490,767 | AlwaysAI, Inc., Series B Preferred Stock(1),(2),(3) | 1,764,356 | ||||||
| 179,641 | Clear Street Group Inc., Series B-1 Preferred Stock(1),(2),(3) | 2,665,872 | ||||||
| 332,938 | Copia Wealth Studios Common Shares(1),(2),(3) | 797,420 | ||||||
| — | Copia Wealth Studios, Inc.(1),(2),(3) | 1,000,000 | ||||||
| 1,064,396 | Copia Wealth Studios Series Seed-2 Preferred Shares(1),(2),(3) | 3,445,238 | ||||||
| 23,723 | Eat Just, Inc., Series F Common Stock(1),(2),(3) | 437,689 | ||||||
| 270,367 | Home Services Champ, Inc., Common Stock (formerly GOSITE, Inc., Series A-1 Common Stock)(1),(2),(3) | 859,767 | ||||||
| 1,000,000 | Iridia, Inc., Convertible Debt 8.00%10/27/29(2),(3) | 1,000,000 | ||||||
| 937,500 | Iridia, Inc., Convertible Debt 8.00% 12/12/27(2),(3) | 997,829 | ||||||
| 497,216 | Iridia, Inc., Series A-3 Preferred Stock(1),(2),(3) | 750,001 | ||||||
| 302,525 | Nurture Life, Inc., Series B-1 Preferred Stock(1),(2),(3) | 550,747 | ||||||
| 2,085,412 | Nurture Life, Inc., Series B-2 Preferred Stock(1),(2),(3) | 3,286,818 | ||||||
| TOTAL PRIVATE COMPANIES (Cost $19,761,151) |
22,103,608 | |||||||
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| REAL ESTATE INVESTMENT TRUSTS – 13.7% | ||||||||
| LISTED REAL ESTATE INVESTMENT TRUSTS – 2.3% | ||||||||
| 2,984 | American Tower Corp., Class A | $ | 523,901 | |||||
| 1,971 | Digital Realty Trust, Inc. | 304,933 | ||||||
| 689 | Equinix, Inc. | 527,884 | ||||||
| 23,859 | VICI Properties, Inc. | 670,916 | ||||||
| TOTAL LISTED REAL ESTATE INVESTMENT TRUST | 2,027,634 | |||||||
| NON-LISTED REAL ESTATE INVESTMENT TRUST – 3.1% | ||||||||
| 86,203 | National Healthcare Properties, Inc., Common Stock (formerly Healthcare Trust, Inc., Common Stock)(1),(2),(3)* | 2,884,458 | ||||||
| TOTAL NON-LISTED REAL ESTATE INVESTMENT TRUST | 2,884,458 | |||||||
| PRIVATE REAL ESTATE INVESTMENT TRUSTS – 8.3% | ||||||||
| 715,000 | Aventine Property Group, Inc., Common Stock(2),(3) | 5,112,250 | ||||||
| 715,000 | Treehouse Real Estate Investment Trust, Inc., Common Stock(1),(2),(3) | 2,302,300 | ||||||
| TOTAL PRIVATE REAL ESTATE INVESTMENT TRUSTS | 7,414,550 | |||||||
| TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $24,100,323) |
12,326,642 | |||||||
| ALTERNATIVE INVESTMENT FUNDS – 32.4% | ||||||||
| 250 | Arboretum Core Asset Fund, L.P.(3),(4) | 1,190,413 | ||||||
| — | Canyon CLO Fund II L.P.(2),(3),(5) | 6,725,058 | ||||||
| — | Canyon CLO Fund III Cayman Ltd.(2),(3),(5) | 15,029,567 | ||||||
| 134 | Clarion Lion Industrial Trust(3),(4) | 500,375 | ||||||
| 159 | Preservation REIT 1, Inc.(1),(3),(4) | 5,760,238 | ||||||
| TOTAL ALTERNATIVE INVESTMENT FUNDS (Cost $24,651,361) |
29,205,651 | |||||||
| EXCHANGE-TRADED FUNDS – 3.7% | ||||||||
| ALTERNATIVE – 0.6% | ||||||||
| 28,388 | REX-OSPREY SOL + Staking ETF, USD Class | 541,075 | ||||||
| EQUITY – 0.7% | ||||||||
| 22,360 | Direxion Daily Real Estate Bear 3X Shares | 592,987 | ||||||
| FIXED INCOME – 2.4% | ||||||||
| 42,305 | Janus Henderson AAA CLO ETF | 2,139,787 | ||||||
| TOTAL EXCHANGE-TRADED FUNDS (Cost $3,498,649) |
3,273,849 | |||||||
| EXCHANGE-TRADED NOTES – 1.4% | ||||||||
| 46,722 | iShares Ethereum Trust ETF(1) | 1,047,974 | ||||||
| 18,298 | Solana ETF, USD Class | 233,117 | ||||||
| TOTAL EXCHANGE-TRADED NOTES (Cost $1,879,401) |
1,281,091 | |||||||
2
| Destra Multi-Alternative Fund |
| Schedule of Investments (unaudited) (continued) |
| December 31, 2025 |
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| MEDIUM TERM NOTES – 5.3% | ||||||||
| DIVERSIFIED FINANCIAL SERVICES – 5.3% | ||||||||
| 1,750,000 | BNP Paribas S.A. 0.00% 03/08/27(2),(3),(6) | $ | 1,750,000 | |||||
| 1,750,000 | BNP Paribas S.A. 0.00% 03/08/27(2),(3),(6) | 1,750,000 | ||||||
| 1,250,000 | GS Finance Corp. 0.00% 11/19/27(2),(3),(6) | 1,250,000 | ||||||
| TOTAL MEDIUM TERM NOTES (Cost $4,750,000) |
4,750,000 | |||||||
| WARRANT – 0.6% | ||||||||
| FOOD – 0.6% | ||||||||
| 878,570 | Nurture Life, Inc. 12/24/32(1),(2),(3) | 548,052 | ||||||
| SOFTWARE – 0.0%(7) | ||||||||
| 1 | AlwaysAI, Inc. 09/30/24(1),(2),(3) | — | ||||||
| TOTAL WARRANT (Cost $0) |
548,052 | |||||||
| CONTINGENT VALUE RIGHTS – 0.3% | ||||||||
| PHARMACEUTICALS – 0.0%(7) | ||||||||
| 142,000 | Bristol-Myers Squibb Co. 03/31/21(1),(2) | — | ||||||
| REAL ESTATE – 0.3% | ||||||||
| 456,540 | Hospitality Investors Trust, Inc. 06/29/26(1),(2),(3)* | 241,226 | ||||||
| 579,536 | Ready Capital Corp. 03/16/25(1),(2),(3)* | — | ||||||
| 241,226 | ||||||||
| TOTAL CONTINGENT VALUE RIGHTS (Cost $10,690,110) |
241,226 | |||||||
| SHORT-TERM INVESTMENTS – 9.0% | ||||||||
| MONEY MARKET FUNDS – 9.0% | ||||||||
| 8,126,869 | Fidelity Investments Money Market Funds, Class I, 3.64% (Cost $8,126,869)(8),(9),(10) |
8,126,869 | ||||||
| PURCHASED OPTIONS CONTRACTS | ||||||||
| EQUITY OPTIONS PURCHASED(1)* – 2.2% | ||||||||
| CALL OPTIONS – 2.2% | ||||||||
| 9 | Adobe, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $460 Notional Value: $314,991 |
1,044 | ||||||
| 8 | Adobe, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $500 Notional Value: $279,992 |
440 | ||||||
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| PURCHASED OPTIONS CONTRACTS (continued) | ||||||||
| EQUITY OPTIONS PURCHASED* (continued) | ||||||||
| CALL OPTIONS (continued) | ||||||||
| 48 | Airbnb, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $150 Notional Value: $651,456 |
$ | 16,608 | |||||
| 41 | Airbnb, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $150 Notional Value: $556,452 |
31,570 | ||||||
| 69 | Airbnb, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $150 Notional Value: $936,468 |
105,224 | ||||||
| 33 | Alibaba Group Holding Ltd. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $180 Notional Value: $483,714 |
32,340 | ||||||
| 27 | Alibaba Group Holding Ltd. Broker/Counterparty: IB Expiration Date: 12/18/2026 Exercise Price: $200 Notional Value: $395,766 |
24,840 | ||||||
| 31 | Alibaba Group Holding Ltd. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $200 Notional Value: $454,398 |
32,116 | ||||||
| 24 | Appfolio, Inc. Broker/Counterparty: IB Expiration Date: 07/17/2026 Exercise Price: $250 Notional Value: $558,360 |
57,240 | ||||||
| 30 | ARM Holdings plc Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $145 Notional Value: $327,930 |
28,425 | ||||||
| 7 | Axon Enterprise, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $670 Notional Value: $397,551 |
46,060 | ||||||
| 7 | Axon Enterprise, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $860 Notional Value: $397,551 |
17,570 | ||||||
| 7 | Axon Enterprise, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $880 Notional Value: $397,551 |
15,855 | ||||||
3
| Destra Multi-Alternative Fund |
| Schedule of Investments (unaudited) (continued) |
| December 31, 2025 |
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| PURCHASED OPTIONS CONTRACTS (continued) | ||||||||
| EQUITY OPTIONS PURCHASED* (continued) | ||||||||
| CALL OPTIONS (continued) | ||||||||
| 29 | Bank of America Corp. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $60 Notional Value: $159,500 |
$ | 290 | |||||
| 64 | Block, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $90 Notional Value: $416,576 |
24,960 | ||||||
| 22 | Cava Group, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $105 Notional Value: $129,118 |
44 | ||||||
| 39 | Cava Group, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $120 Notional Value: $228,891 |
78 | ||||||
| 56 | Cava Group, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $95 Notional Value: $328,664 |
2,016 | ||||||
| 29 | Cava Group, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $105 Notional Value: $170,201 |
348 | ||||||
| 100 | Chipotle Mexican Grill, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $63 Notional Value: $370,000 |
1,750 | ||||||
| 94 | Chipotle Mexican Grill, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $50 Notional Value: $347,800 |
22,842 | ||||||
| 12 | Coinbase Global, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $420 Notional Value: $271,368 |
4,980 | ||||||
| 11 | Coinbase Global, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $410 Notional Value: $248,754 |
11,110 | ||||||
| 8 | Crowdstrike Holdings, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $600 Notional Value: $375,008 |
37,096 | ||||||
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| PURCHASED OPTIONS CONTRACTS (continued) | ||||||||
| EQUITY OPTIONS PURCHASED* (continued) | ||||||||
| CALL OPTIONS (continued) | ||||||||
| 19 | DoorDash, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $320 Notional Value: $430,312 |
$ | 31,825 | |||||
| 20 | DoorDash, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $330 Notional Value: $452,960 |
30,000 | ||||||
| 8 | Duolingo, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $480 Notional Value: $140,400 |
1,160 | ||||||
| 7 | Duolingo, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $540 Notional Value: $122,850 |
998 | ||||||
| 4 | Eli Lilly & Co. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $1,160 Notional Value: $429,872 |
54,992 | ||||||
| 20 | Flutter Entertainment plc Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $240 Notional Value: $430,080 |
54,500 | ||||||
| 24 | Flutter Entertainment plc Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $300 Notional Value: $516,096 |
27,480 | ||||||
| 5 | GE Vernova, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $740 Notional Value: $326,785 |
54,050 | ||||||
| 52 | Gitlab, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $63 Notional Value: $195,156 |
260 | ||||||
| 19 | Guidewire Software, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $260 Notional Value: $381,919 |
48 | ||||||
| 22 | Guidewire Software, Inc. Broker/Counterparty: IB Expiration Date: 12/18/2026 Exercise Price: $230 Notional Value: $442,222 |
54,230 | ||||||
4
| Destra Multi-Alternative Fund |
| Schedule of Investments (unaudited) (continued) |
| December 31, 2025 |
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| PURCHASED OPTIONS CONTRACTS (continued) | ||||||||
| EQUITY OPTIONS PURCHASED* (continued) | ||||||||
| CALL OPTIONS (continued) | ||||||||
| 22 | Howmet Aerospace, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $200 Notional Value: $451,044 |
$ | 51,480 | |||||
| 22 | Howmet Aerospace, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $220 Notional Value: $451,044 |
56,980 | ||||||
| 5 | HubSpot, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $700 Notional Value: $200,650 |
1,200 | ||||||
| 5 | HubSpot, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $820 Notional Value: $200,650 |
1,200 | ||||||
| 5 | HubSpot, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $840 Notional Value: $200,650 |
250 | ||||||
| 7 | HubSpot, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $600 Notional Value: $280,910 |
1,558 | ||||||
| 2 | MercadoLibre, Inc. Broker/Counterparty: IB Expiration Date: 12/18/2026 Exercise Price: $2,460 Notional Value: $402,852 |
36,260 | ||||||
| 10 | Meta Platforms, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $700 Notional Value: $660,090 |
68,499 | ||||||
| 6 | Meta Platforms, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $860 Notional Value: $396,054 |
25,860 | ||||||
| 6 | Meta Platforms, Inc. Broker/Counterparty: IB Expiration Date: 06/17/2027 Exercise Price: $880 Notional Value: $396,054 |
35,790 | ||||||
| 50 | Netflix, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $130 Notional Value: $468,800 |
6,500 | ||||||
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| PURCHASED OPTIONS CONTRACTS (continued) | ||||||||
| EQUITY OPTIONS PURCHASED* (continued) | ||||||||
| CALL OPTIONS (continued) | ||||||||
| 40 | Netflix, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $140 Notional Value: $375,040 |
$ | 2,960 | |||||
| 50 | Netflix, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $130 Notional Value: $468,800 |
14,350 | ||||||
| 50 | Netflix, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $140 Notional Value: $468,800 |
17,600 | ||||||
| 50 | Netflix, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $142 Notional Value: $468,800 |
16,650 | ||||||
| 37 | Netflix, Inc. Broker/Counterparty: IB Expiration Date: 06/17/2027 Exercise Price: $126 Notional Value: $346,912 |
31,543 | ||||||
| 22 | NVIDIA Corp. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $220 Notional Value: $410,300 |
39,380 | ||||||
| 100 | On Holding A.G. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $60 Notional Value: $464,800 |
6,200 | ||||||
| 22 | Palantir Technologies, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $220 Notional Value: $391,050 |
30,140 | ||||||
| 21 | Palantir Technologies, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $220 Notional Value: $373,275 |
47,040 | ||||||
| 32 | Palo Alto Networks, Inc. Broker/Counterparty: IB Expiration Date: 05/15/2026 Exercise Price: $220 Notional Value: $589,440 |
15,584 | ||||||
| 20 | Palo Alto Networks, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $230 Notional Value: $368,400 |
28,360 | ||||||
5
| Destra Multi-Alternative Fund |
| Schedule of Investments (unaudited) (continued) |
| December 31, 2025 |
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| PURCHASED OPTIONS CONTRACTS (continued) | ||||||||
| EQUITY OPTIONS PURCHASED* (continued) | ||||||||
| CALL OPTIONS (continued) | ||||||||
| 23 | Palo Alto Networks, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $240 Notional Value: $423,660 |
$ | 27,301 | |||||
| 100 | Pinterest, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $47 Notional Value: $258,900 |
50 | ||||||
| 97 | Pinterest, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $42 Notional Value: $251,133 |
3,007 | ||||||
| 17 | Reddit, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $260 Notional Value: $390,779 |
60,350 | ||||||
| 15 | Reddit, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $310 Notional Value: $344,805 |
33,600 | ||||||
| 47 | Robinhood Markets, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $140 Notional Value: $531,570 |
71,580 | ||||||
| 27 | Robinhood Markets, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $145 Notional Value: $305,370 |
37,287 | ||||||
| 37 | Rubrik, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $105 Notional Value: $282,976 |
93 | ||||||
| 20 | Salesforce, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $390 Notional Value: $529,820 |
820 | ||||||
| 14 | Salesforce, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $330 Notional Value: $370,874 |
2,940 | ||||||
| 15 | Salesforce, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $350 Notional Value: $397,365 |
1,410 | ||||||
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| PURCHASED OPTIONS CONTRACTS (continued) | ||||||||
| EQUITY OPTIONS PURCHASED* (continued) | ||||||||
| CALL OPTIONS (continued) | ||||||||
| 16 | Salesforce, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $290 Notional Value: $423,856 |
$ | 26,800 | |||||
| 19 | Salesforce, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $300 Notional Value: $503,329 |
51,775 | ||||||
| 1 | Shake Shack, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $150 Notional Value: $8,117 |
13 | ||||||
| 47 | Shake Shack, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $130 Notional Value: $381,499 |
5,405 | ||||||
| 16 | Snowflake, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $310 Notional Value: $350,976 |
18,240 | ||||||
| 17 | Snowflake, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $270 Notional Value: $372,912 |
46,104 | ||||||
| 19 | Take-Two Interactive Software, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $270 Notional Value: $486,457 |
67,830 | ||||||
| 21 | Take-Two Interactive Software, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $290 Notional Value: $537,663 |
62,160 | ||||||
| 100 | Toast, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $45 Notional Value: $355,100 |
42,000 | ||||||
| 41 | Uber Technologies, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $100 Notional Value: $335,011 |
123 | ||||||
| 38 | Uber Technologies, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $98 Notional Value: $310,498 |
4,598 | ||||||
6
| Destra Multi-Alternative Fund |
| Schedule of Investments (unaudited) (continued) |
| December 31, 2025 |
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| PURCHASED OPTIONS CONTRACTS (continued) | ||||||||
| EQUITY OPTIONS PURCHASED* (continued) | ||||||||
| CALL OPTIONS (continued) | ||||||||
| 55 | Uber Technologies, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $110 Notional Value: $449,405 |
$ | 28,380 | |||||
| 18 | Veeva Systems, Inc. Broker/Counterparty: IB Expiration Date: 12/18/2026 Exercise Price: $330 Notional Value: $401,814 |
11,430 | ||||||
| 8 | Vertex Pharmaceuticals, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $500 Notional Value: $362,688 |
20,480 | ||||||
| 6 | Vertex Pharmaceuticals, Inc. Broker/Counterparty: IB Expiration Date: 06/18/2026 Exercise Price: $580 Notional Value: $272,016 |
5,700 | ||||||
| 31 | Wix.com Ltd. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $250 Notional Value: $322,059 |
78 | ||||||
| 20 | Zscaler, Inc. Broker/Counterparty: IB Expiration Date: 03/20/2026 Exercise Price: $340 Notional Value: $449,840 |
920 | ||||||
| 14 | Zscaler, Inc. Broker/Counterparty: IB Expiration Date: 09/18/2026 Exercise Price: $350 Notional Value: $314,888 |
9,100 | ||||||
| 20 | Zscaler, Inc. Broker/Counterparty: IB Expiration Date: 01/15/2027 Exercise Price: $310 Notional Value: $449,840 |
37,460 | ||||||
| TOTAL CALL OPTIONS PURCHASED (Cost - $4,589,287) |
2,036,807 | |||||||
| TOTAL EQUITY OPTIONS PURCHASED (Cost - $4,589,287) |
2,036,807 | |||||||
| TOTAL INVESTMENTS – 111.9% (Cost $119,583,295) |
100,843,411 | |||||||
| LIABILITIES IN EXCESS OF OTHER ASSETS – (11.9)% | (10,759,536 | ) | ||||||
| NET ASSETS – 100.0% | $ | 90,100,150 | ||||||
| Shares/ Contracts/ Principal |
Fair Value | |||||||
| WRITTEN EQUITY OPTIONS(1)* – 0.0%(11) | ||||||||
| CALL OPTIONS WRITTEN – 0.0%(11) | ||||||||
| (35 | ) | Corning, Inc. Broker/Counterparty: IB Expiration Date: 01/16/2026 Exercise Price: $85 Notional Value: $306,460 |
$ | (16,275 | ) | |||
| TOTAL CALL OPTIONS WRITTEN (Proceeds - $(14,334)) |
||||||||
| TOTAL EQUITY OPTIONS WRITTEN (Proceeds - $(14,334)) |
(16,275 | ) | ||||||
| EXCHANGE-TRADED FUNDS SOLD SHORT — (1.2)% | ||||||||
| EQUITY – (1.2)% | ||||||||
| (19,600 | ) | ProShares UltraPro QQQ | (1,033,312 | ) | ||||
| TOTAL EXCHANGE-TRADED FUNDS SOLD SHORT (Proceeds - $(167,745)) |
(1,033,312 | ) | ||||||
| TOTAL SECURITIES SOLD SHORT (Proceeds - $(182,079)) |
$ | (1,049,587 | ) | |||||
| (1) | Non-income producing security. |
| (2) | Fair valued using significant unobservable inputs. |
| (3) | Restricted investment as to resale. |
| (4) | Investments in Alternative Investment Funds are valued using net asset value as a practical expedient. |
| (5) | Alternative investment fund does not issue shares. |
| (6) | Zero coupon bond. |
| (7) | Percentage rounds to less than 0.1%. |
| (8) | Rate disclosed is the seven day effective yield as of December 31, 2025. |
| (9) | All or a portion of this security is held as collateral for securities sold short. |
| (10) | All or a portion of this security is held as collateral for line of credit. |
| (11) | Percentage rounds to greater than (0.1%). |
| * | All securities are pledged as collateral except for securities identified with a * superscript. |
CLO – Collateralized Loan Obligation
ETF – Exchange-Traded Fund
L.P. – Limited Partnership
PLC – Public Limited Company
REIT – Real Estate Investment Trusts
7
| Destra Multi-Alternative Fund |
| Schedule of Investments (unaudited) (continued) |
| December 31, 2025 |
| Security Description | Acquisition Date |
Cost | Value | % of Net Assets |
|||||||||||
| AlwaysAI, Inc., Convertible Debt | 10/2/2023 | $ | 2,000,000 | $ | 2,000,000 | 2.2 | % | ||||||||
| AlwaysAI, Inc., Convertible Debt | 5/31/2024 | 950,000 | 950,000 | 1.0 | |||||||||||
| AlwaysAI, Inc., Preferred Stock | 1/5/2021 | 399,999 | 799,871 | 0.9 | |||||||||||
| AlwaysAI, Inc., Preferred Stock | 2/22/2022 | 1,599,999 | 1,764,356 | 2.0 | |||||||||||
| AlwaysAI, Inc., Senior Secured Promissory Note | 2/5/2025 | 798,000 | 798,000 | 0.9 | |||||||||||
| AlwaysAI, Inc., Warrants | 10/2/2023 | — | (1) | — | — | ||||||||||
| Arboretum Core Asset Fund L.P. | 8/2/2018 | 1,625,342 | 1,190,413 | 1.3 | |||||||||||
| Aventine Property Group, Inc. | 1/13/2021 | 5,692,400 | 5,112,250 | 5.7 | |||||||||||
| BNP Paribas S.A. | 3/3/2025 | 1,750,000 | 1,750,000 | 1.9 | |||||||||||
| BNP Paribas S.A. | 3/3/2025 | 1,750,000 | 1,750,000 | 1.9 | |||||||||||
| Canyon CLO Fund II L.P. | 2/25/2019 | 6,132,077 | 6,725,058 | 7.5 | |||||||||||
| Canyon CLO Fund III (Cayman) Ltd. | 3/1/2022 | 13,243,419 | 15,029,567 | 16.7 | |||||||||||
| Clarion Lion Industrial Trust | 6/29/2015 | 184,356 | 500,375 | 0.6 | |||||||||||
| Clear Street Group, Inc. | 5/11/2022 | 1,500,000 | 2,665,872 | 3.0 | |||||||||||
| Copia Wealth Studios Inc Capital Stock | 12/31/2025 | 1,000,000 | 1,000,000 | 1.1 | |||||||||||
| Copia Wealth Studios – Common Shares | 5/22/2024 | 333 | 797,420 | 0.9 | |||||||||||
| Copia Wealth Studios – Preferred Shares | 4/1/2024 | 3,000,000 | 3,445,237 | 3.8 | |||||||||||
| Eat Just, Inc. | 6/11/2021 | 515,501 | 437,689 | 0.5 | |||||||||||
| GS Finance Corp. | 4/15/2025 | 1,250,000 | 1,250,000 | 1.4 | |||||||||||
| Home Services Champ, Inc., Common Stock (formerly GOSITE, Inc., Series A-1 Common Stock) | 7/31/2020 | 2,052,466 | 859,767 | 0.9 | |||||||||||
| Hospitality Investors Trust, Inc. | 2/17/2015 | 10,530,898 | 241,226 | 0.3 | |||||||||||
| Iridia, Inc., Convertible Debt | 12/23/2024 | 937,500 | 997,829 | 1.1 | |||||||||||
| Iridia, Inc., Convertible Debt | 10/27/2025 | 1,000,000 | 1,000,000 | 1.1 | |||||||||||
| Iridia, Inc., Preferred Stock | 2/25/2021 | 750,000 | 750,001 | 0.8 | |||||||||||
| National Healthcare Properties, Inc., Common Stock (formerly Healthcare Trust, Inc., Common Stock) | 3/30/2012 | 7,439,974 | 2,884,458 | 3.2 | |||||||||||
| Nurture Life, Inc., Preferred Stock | 8/2/2022 | 500,000 | 550,747 | 0.6 | |||||||||||
| Nurture Life, Inc., Preferred Stock | 2/18/2025 | 2,757,353 | 3,286,818 | 3.6 | |||||||||||
| Nurture Life, Inc., Warrants | 12/23/2022 | — | 548,052 | 0.6 | |||||||||||
| Preservation REIT 1, Inc. | 10/22/2019 | 3,466,166 | 5,760,238 | 6.4 | |||||||||||
| Ready Capital Corp., Contingent Value Rights | 7/6/2017 | — | (1) | — | — | ||||||||||
| Treehouse Real Estate Investment Trust, Inc. | 12/31/2018 | 8,536,850 | 2,302,300 | 2.6 | |||||||||||
| Total | $ | 81,362,633 | $ | 67,147,545 | 74.5 | % | |||||||||
| (1) | Transferred at no cost as a result of a corporate action. |
8