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

Rhea-AI Filing Summary

Destra Multi-Alternative Fund (DMA) Form 4 shows Saba Capital Management, L.P. and individual Boaz Weinstein reported an insider purchase on 09/08/2025. The filing records an acquisition of 500 shares of Destra common stock at $8.58 per share, increasing reported indirect holdings to 2,166,695 shares. The reporting entities are identified as a director and a 10% owner of the issuer. The form is signed 09/09/2025.

Positive

• Insider purchase recorded, showing alignment of a director/10% owner with the company via an acquisition of 500 shares at $8.58
• Substantial indirect holding remains evident with 2,166,695 shares reported beneficially owned, indicating continued significant ownership
• Form filed and signed promptly (transaction 09/08/2025; signatures dated 09/09/2025), meeting disclosure obligations

Negative

• None.

Insights

Financial Analyst

TL;DR: A director and 10% owner increased indirect holdings via a small open-market purchase.

The reported transaction is a modest purchase of 500 shares at $8.58, which is small in absolute terms but occurs alongside an already large indirect position of 2,166,695 shares. For investors this signals continued stake maintenance or marginal accumulation by a significant shareholder. No derivative transactions or dispositions are reported, and the filing contains standard signatures and dates.

Corporate Governance Expert

TL;DR: Insider disclosure is timely and routine; it confirms beneficial ownership by a principal investor and a director.

The Form 4 properly discloses the relationship of the reporting persons as director and 10% owner and records the acquisition under transaction code P (open-market purchase pursuant to a prearranged plan). The filing does not show any sales or change in derivative holdings. Documentation appears complete with signatures dated 09/09/2025.

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)
09/08/2025

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	09/08/2025		P		500	A	$8.58	2,166,695	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	09/09/2025
	Boaz Weinstein	09/09/2025
	** 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 Saba Capital report on Form 4 for DMA?

The filing reports an acquisition of 500 shares of Destra common stock on 09/08/2025 at a price of $8.58 per share.

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

The Form 4 shows 2,166,695 shares beneficially owned indirectly following the reported purchase.

Who are the reporting persons on the DMA Form 4?

The reporting entities are Saba Capital Management, L.P. and Boaz Weinstein, each identified as a director and a 10% owner of DMA.

Was the Form 4 timely signed and filed?

The transaction date is 09/08/2025 and the form bears signatures dated 09/09/2025, indicating prompt filing and signing.

Did the Form 4 report any derivative transactions or dispositions?

No. The filing shows only a non-derivative acquisition of common stock; Table II (derivatives) contains no reported transactions.