Bulldog Investors Takes 3.27% Stake in Destra Multi-Alternative Fund

TL;DR

**Activist investor Bulldog Investors just revealed a 3.27% stake in Destra Multi-Alternative Fund, watch for potential shake-ups.**

AI Summary

Bulldog Investors, LLP, an investment adviser based in Saddle Brook, NJ, along with its partner Phillip Goldstein, reported beneficial ownership of 292,743 shares of Destra Multi-Alternative Fund's Common Stock as of December 31, 2023. This represents 3.27% of the fund's class of securities. This matters to investors because Bulldog Investors is known for its activist approach, often pushing for changes in the companies they invest in, which could influence the fund's future strategy or performance.

Why It Matters

This filing signals a significant stake by an activist investor, Bulldog Investors, which could lead to pressure for strategic changes within the Destra Multi-Alternative Fund.

Risk Assessment

Risk Level: medium — The involvement of an activist investor like Bulldog Investors can introduce both opportunities and risks, potentially leading to volatility or strategic shifts.

Analyst Insight

Investors should monitor news regarding Destra Multi-Alternative Fund for any announcements of strategic reviews or changes, as Bulldog Investors' involvement often signals potential for corporate action. Research Bulldog Investors' past activist campaigns to understand their typical approach and potential impact.

Key Numbers

• 292,743 — Shares Beneficially Owned (Total shares of Destra Multi-Alternative Fund held by Bulldog Investors, LLP and Phillip Goldstein)
• 3.27% — Percent of Class (The percentage of Destra Multi-Alternative Fund's Common Stock owned by the reporting persons)
• 12/31/2023 — Date of Event (The date that triggered the requirement for this SC 13G filing)

Key Players & Entities

• Bulldog Investors, LLP (company) — reporting person and investment adviser
• Destra Multi-Alternative Fund (company) — issuer of the securities
• Phillip Goldstein (person) — reporting person and partner at Bulldog Investors
• Saddle Brook, NJ (company) — business location of Bulldog Investors, LLP
• Bozeman, MT (company) — business location of Destra Multi-Alternative Fund

Forward-Looking Statements

• Bulldog Investors will engage with Destra Multi-Alternative Fund's management to propose strategic changes. (Bulldog Investors, LLP) — medium confidence, target: Within 6-12 months
• The Destra Multi-Alternative Fund's stock price may experience increased volatility due to activist investor involvement. (Destra Multi-Alternative Fund) — medium confidence, target: Within 3-6 months

FAQ

Filing Documents

• fp0086955-1_sc13g.htm (SC 13G) — 22KB
• fp0086955-1_ex7a.htm (EX-7.A) — 4KB
• 0001398344-24-001130.txt ( ) — 27KB

(a) The Name of the Issuer is

Item 1(a) The Name of the Issuer is: Destra Multi-Alternative Fund

(b) Address of Issuer's Principal Executive Offices

Item 1(b) Address of Issuer's Principal Executive Offices: 443 N. Wilson Ave. Bozeman, MT 59715

(a) Name of Persons Filing are

Item 2(a) Name of Persons Filing are: Bulldog Investors, LLP, Phillip Goldstein and Andrew Dakos

(b) Address of principal business office

Item 2(b) Address of principal business office: 250 Pehle Ave. Suite 708 Saddle Brook, NJ 07663

(c) Citizenship or Place of Organization

Item 2(c) Citizenship or Place of Organization: Delaware

(d) Title of Class of Securities

Item 2(d) Title of Class of Securities: Common Stock

(e) CUSIP Number

Item 2(e) CUSIP Number: 25065A502 Item 3. This statement is filed pursuant to 240.13d-1(b). The person filing is: (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

Ownership

Item 4. Ownership. (a) Amount beneficially owned: 453,840 (b) Percent of class: 5.06% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 453,840 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 453,840

Ownership of 5 Percent or Less of a Class

Item 5. Ownership of 5 Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ____.

Ownership of More than 5 Percent on Behalf of Another Person

Item 6. Ownership of More than 5 Percent on Behalf of Another Person. Clients of Bulldog Investors, LLP, and other accounts for which Messrs. Dakos and Goldstein are deemed to be the beneficial owners, are entitled to receive dividends and sales proceeds.

Identification and Classification of the Subsidiary Which Acquired

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security being Reported on by the Parent Holding Company or Control Person. Not applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. N/A

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable.

Certifications

Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct. By: /s/ Phillip Goldstein Name: Phillip Goldstein Date: January 26, 2024 By: /s/ Andrew Dakos Name: Andrew Dakos Date: January 26, 2024 Bulldog Investors, LLP By: /s/ Andrew Dakos Andrew Dakos, Partner Date: January 26, 2024 Footnote 1: The reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest therein.

View Full Filing

View this SC 13G filing on SEC EDGAR