[Form 4] Destra Multi-Alternative Fund Insider Trading Activity

Rhea-AI Filing Summary

Insiders purchased shares of Destra Multi-Alternative Fund (DMA). Saba Capital Management, L.P. reported acquiring 68,449 shares on 09/09/2025 at $8.60 per share. After the transaction, the reporting parties beneficially owned 2,235,144 shares indirectly. The Form 4 lists Saba Capital and Boaz Weinstein as reporting persons and identifies them as directors and 10% owners.

Positive

• Insider acquisition disclosed: 68,449 shares purchased at $8.60 on 09/09/2025
• Substantial indirect ownership: Reporting parties beneficially own 2,235,144 shares after the transaction
• Proper Section 16 disclosure: Form 4 filed and signed by reporting persons

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchase of 68,449 shares signals a buying event but appears routine without further financial context.

The reported purchase on 09/09/2025 at $8.60 increases Saba Capital's indirect stake to 2,235,144 shares. This Form 4 discloses a non-derivative acquisition by a director/10% owner rather than a sale or derivative activity. Without concurrent financial results or material corporate events, the transaction is informational and does not by itself change valuation metrics.

Corporate Governance Expert

TL;DR: A director and 10% owner added to their indirect position; disclosure follows Section 16 reporting requirements.

The filing lists Saba Capital Management, L.P. and Boaz Weinstein as reporting persons and shows an indirect acquisition. The signature block shows appropriate reporting signatures. The Form 4 provides required transparency on insider activity; it does not indicate related-party issues, option exercises, or plan-based trades.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Destra Multi-Alternative Fund [ DMA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/09/2025		P		68,449	A	$8.6	2,235,144	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Weinstein Boaz

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	09/11/2025
	Boaz Weinstein	09/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did the Form 4 for DMA report?

The Form 4 reports an acquisition of 68,449 shares of Destra Multi-Alternative Fund on 09/09/2025 at a price of $8.60 per share.

Who filed the Form 4 for DMA?

The filing lists Saba Capital Management, L.P. and Boaz Weinstein as reporting persons; both are identified as directors and 10% owners.

How many shares are beneficially owned after the reported DMA transaction?

Following the reported purchase, the reporting parties beneficially own 2,235,144 shares indirectly.

Was the reported DMA transaction a derivative or non-derivative trade?

The Form 4 shows a non-derivative acquisition (Common Stock) and no derivative securities activity was reported.

What price was paid per share in the DMA insider purchase?

The reported purchase price was $8.60 per share.