8-K
Destra Multi-Alternative Fund (DMA)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 18, 2025
Destra Multi-Alternative Fund
(Exact name of Registrant as specified in its charter)
| Delaware | 811-22572 | 45-3477142 |
|---|---|---|
| (State or other jurisdiction<br> <br>of incorporation) | (Commission<br> <br>File Number) | (I.R.S. Employer<br> <br>Identification No.) |
| 443 North Willson Avenue<br> <br>Bozeman, Montana 59715 | 59715 | |
| --- | --- | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (312) 843-6161
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written<br>communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br>material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement<br>communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement<br>communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| ☐ | Emerging<br>growth company |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Shares | DMA | New York Stock Exchange |
| Item 5.07. | Submission of Matters to a Vote of Security Holders. | |
| --- | --- |
On December 18, 2025, Destra Multi-Alternative Fund (the “Company”) held a special meeting of shareholders (the “Special Meeting”). Proxies for the Special Meeting were solicited pursuant to Regulation 14A of the Securities Exchange Act of 1934, as amended. The final voting results for the matter submitted to a vote of the shareholders at the Special Meeting are set forth below.
Proposal: To approvea revision to the Fund’s fundamental policy regarding concentration that would eliminate the Fund’s concentration in the realestate industry
Votes on a proposal to approve a revision to the Fund’s fundamental policy regarding concentration that would eliminate the Fund’s concentration in the real estate industry were as follows:
| For | Against | Abstentions | Broker Non-Votes |
|---|---|---|---|
| 4,285,378 | 1,118,644 | 16,622 | 0 |
The proposal presented at the Special Meeting received the requisite shareholder votes for the adoption.
| Item 9.01 | Financial Statements and Exhibits. |
|---|---|
| (d) | Exhibits. |
| --- | --- |
| EXHIBIT NUMBER | **** |
| --- | --- |
| Exhibit 99.1 | Press Release,<br> dated December 18, 2025 |
1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Destra Multi-Alternative Fund | ||
|---|---|---|
| Date: December 19, 2025 | By: | /s/<br> Robert A. Watson |
| Robert<br> A. Watson | ||
| President |
2
Exhibit 99.1
Destra Multi-Alternative Fund Shareholders Approve Proxy Proposal with 79% Affirmative Vote
Bozeman, MT — December 18, 2025 — Destra Multi-Alternative Fund (NYSE: DMA) today announced that shareholders have approved the proposal presented at the Fund’s Special Meeting of Shareholders, with approximately 79% of votes cast in favor of the proposal.
The approved proposal revises the Fund’s fundamental policy regarding industry concentration, removing the requirement that the Fund invest more than 25% of its net assets in securities of companies within the real estate industry. The change provides the Fund with increased flexibility to pursue attractive investment opportunities while continuing to seek the Fund’s long-term investment objectives.
The proposal was unanimously recommended by the Fund’s Board of Trustees and was presented to shareholders at a Special Meeting held on December 18, 2025. Approval required the affirmative vote of a majority of the Fund’s outstanding voting securities, in accordance with the Investment Company Act of 1940. The final voting results exceeded this threshold, reflecting strong shareholder support for the Board’s recommendation.
Following shareholder approval, the revised fundamental concentration policy will take effect, and the Fund will no longer be required, under normal circumstances, to maintain a concentration in real estate-related investments.
“With the passage of the proxy proposal, we can direct the portfolio to the best opportunities regardless of asset class. Given our current relative assessment of real estate opportunities, we intend to transition a meaningful portion of this exposure into liquid hedged strategies, utilizing our Validex Dynamic Alpha process” said Mark Scalzo, Portfolio Manager and CIO of Validex Global Investing, the Fund’s Sub-Adviser.”
Additional details regarding the proposal and the Special Meeting are available in the Fund’s definitive proxy materials.
About Destra Multi-Alternative Fund
Destra Multi-Alternative Fund (NYSE: DMA) is a core alternative solution that seeks to achieve long-term performance non-correlated to the broad stock and bond markets. It invests primarily in alternative strategies and asset classes centered on the Validex Dynamic Alpha hedged equity process, which is further diversified by allocations to direct private equity and alternative income sub-categories like real estate & alternative credit.
About Destra Capital Advisors
Destra Capital Advisors LLC, based in Bozeman, MT, serves as Investment Adviser and Secondary Market Servicing agent to the Fund. Validus Growth Investors LLC (dba Validex Global Investing) serves as the Investment Sub-Adviser to the Fund.
Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.
Information regarding the Fund and Destra Capital Advisors can be found at www.destracapital.com.
About Validex Global Investing
Validex Global Investing seeks growth at the edge of inflection. Their proprietary research aims to identify emergent turning points as they unfold, pairing high-conviction opportunities with sophisticated risk-mitigation strategies across both private and public markets.
Please contact Destra Capital Advisors LLC, the Fund’s marketing, and investor support services agent, at DMA@destracapital.com or call (877) 855-3434 if you have any questions regarding DMA.