What was the nature of the 14,496-share transaction reported for DMA?

The 14,496-share transaction is described as a pro-rata distribution in-kind for no consideration , meaning the shares were distributed without any cash changing hands.

Destra Multi-Alternative Fund (NYSE: DMA) reports insider share distribution

Q: What insider transaction did Destra Multi-Alternative Fund (DMA) report in this Form 4?

The filing reports that a 10% owner, Saba Capital Management, L.P. , disposed of 14,496 shares of Destra Multi-Alternative Fund common stock on 11/28/2025 .

Q: Who is the reporting person in this Destra Multi-Alternative Fund (DMA) Form 4?

The reporting person is Saba Capital Management, L.P. , identified as a 10% owner of Destra Multi-Alternative Fund, with signatures from Zachary Gindes and Boaz Weinstein .

Q: What transaction code is used for the DMA insider transaction and what does it indicate?

The filing uses transaction code J , with a note that it represents a pro-rata distribution in-kind for no consideration , indicating a non-cash distribution of shares.

Q: Is the DMA insider transaction a direct or indirect holding change?

The holdings are reported as indirect ownership (I) , with 2,220,648 shares beneficially owned indirectly after the transaction.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Destra Multi-Alternative Fund’s 10% owner Saba Capital Management, L.P. reported an insider transaction in the fund’s common stock. On 11/28/2025, the reporting person disposed of 14,496 shares, coded as transaction type J, described as a pro-rata distribution in-kind for no cash consideration. Following this non-cash distribution, the reporting person continues to beneficially own 2,220,648 shares indirectly. The filing is made on behalf of Saba Capital Management, L.P., with signatures by Zachary Gindes and Boaz Weinstein.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Saba Capital Management, L.P.

Role 10% Owner

Type	Security	Shares	Price	Value
Other	Common Stock	14,496	$0.00	$0.00

Holdings After Transaction: Common Stock — 2,220,648 shares (Indirect, -)

Footnotes (1)

F1. Pro-rata distribution in-kind for no consideration.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 12/02/2025 - 10:33 AM

FAQ

What insider transaction did Destra Multi-Alternative Fund (DMA) report in this Form 4?

The filing reports that a 10% owner, Saba Capital Management, L.P., disposed of 14,496 shares of Destra Multi-Alternative Fund common stock on 11/28/2025.

How many Destra Multi-Alternative Fund (DMA) shares does the reporting person own after the transaction?

After the reported transaction, the reporting person beneficially owns 2,220,648 shares of Destra Multi-Alternative Fund common stock on an indirect basis.

Who is the reporting person in this Destra Multi-Alternative Fund (DMA) Form 4?

The reporting person is Saba Capital Management, L.P., identified as a 10% owner of Destra Multi-Alternative Fund, with signatures from Zachary Gindes and Boaz Weinstein.

What transaction code is used for the DMA insider transaction and what does it indicate?

The filing uses transaction code J, with a note that it represents a pro-rata distribution in-kind for no consideration, indicating a non-cash distribution of shares.

Is the DMA insider transaction a direct or indirect holding change?

The holdings are reported as indirect ownership (I), with 2,220,648 shares beneficially owned indirectly after the transaction.

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
Estimated average burden
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

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)
11/28/2025

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

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

X	Form filed by One Reporting Person
	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/28/2025		J⁽¹⁾		14,496	D	$0	2,220,648	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Pro-rata distribution in-kind for no consideration.

	Saba Capital Management, L.P. By: Zachary Gindes	12/02/2025
	Boaz Weinstein	12/02/2025
	** 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.

Source: View Original Filing on SEC EDGAR