<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0505</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001523289</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-22572</fileNumber>
      </filer>
      <investmentCompanyType>N-2</investmentCompanyType>
    </filerInfo>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2026-03-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>Destra Multi-Alternative Fund</registrantFullName>
      <investmentCompFileNo>811-22572</investmentCompFileNo>
      <registrantCik>0001523289</registrantCik>
      <registrantLei>549300SP0KUS5HR5P569</registrantLei>
      <registrantstreet1>443 NORTH WILLSON AVENUE</registrantstreet1>
      <registrantcity>BOZEMAN</registrantcity>
      <registrantzipCode>59715</registrantzipCode>
      <registrantstate>US-MT</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>877-855-3434</registrantphoneNumber>
      <websites>
        <website webpage="www.destracapital.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>EQUINITI TRUST COMPANY, LLC</officeName>
          <officeAddress1>48 WALL STREET</officeAddress1>
          <officeAddress2>FLOOR 23</officeAddress2>
          <officeCity>NEW YORK</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>10005</officeRecordsZipCode>
          <officePhone>718-921-8157</officePhone>
          <booksRecordsDesc>TRANSFER AGENT</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>FAEGRE DRINKER BIDDLE &amp; REATH LLP</officeName>
          <officeAddress1>ONE LOGAN SQUARE</officeAddress1>
          <officeAddress2>SUITE 2000</officeAddress2>
          <officeCity>PHILADELPHIA</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-PA"/>
          <officeRecordsZipCode>19103</officeRecordsZipCode>
          <officePhone>215-988-2700</officePhone>
          <booksRecordsDesc>LEGAL COUNSEL</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>VALIDEX GLOBAL INVESTING</officeName>
          <officeAddress1>13520 EVENING CREEK DRIVE NORTH</officeAddress1>
          <officeAddress2>SUITE 300B</officeAddress2>
          <officeCity>SAN DIEGO</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-CA"/>
          <officeRecordsZipCode>92128</officeRecordsZipCode>
          <officePhone>858-410-1410</officePhone>
          <booksRecordsDesc>SUB-ADVISER</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Ultimus Fund Solutions</officeName>
          <officeAddress1>225 Pictoria Drive, Suite 450</officeAddress1>
          <officeCity>Cincinnati</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-OH"/>
          <officeRecordsZipCode>45246</officeRecordsZipCode>
          <officePhone>631-470-2600</officePhone>
          <booksRecordsDesc>FUND ADMINISTRATOR AND FUND ACCOUNTANT</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>DESTRA CAPITAL ADVISORS LLC</officeName>
          <officeAddress1>443 NORTH WILLSON AVENUE</officeAddress1>
          <officeCity>BOZEMAN</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-MT"/>
          <officeRecordsZipCode>59715</officeRecordsZipCode>
          <officePhone>877-855-3434</officePhone>
          <booksRecordsDesc>INVESTMENT MANAGER</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>UMB BANK, N.A.</officeName>
          <officeAddress1>1010 GRAND BLVD</officeAddress1>
          <officeCity>KANSAS CITY</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-MO"/>
          <officeRecordsZipCode>64141</officeRecordsZipCode>
          <officePhone>816-860-1142</officePhone>
          <booksRecordsDesc>CUSTODIAN</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="DESTRA"/>
      <registrantClassificationType>N-2</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>MICHAEL S ERICKSON</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-04014"/>
            <fileNumberInfo fileNumber="811-23309"/>
            <fileNumberInfo fileNumber="811-22417"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>JOHN S EMRICH</directorName>
          <crdNumber>006852043</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-04014"/>
            <fileNumberInfo fileNumber="811-23309"/>
            <fileNumberInfo fileNumber="811-22417"/>
            <fileNumberInfo fileNumber="811-22853"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>NICHOLAS DALMASO</directorName>
          <crdNumber>002246955</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-23309"/>
            <fileNumberInfo fileNumber="811-22417"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>JEFFREY S MURPHY</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22417"/>
            <fileNumberInfo fileNumber="811-23309"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>RANDI ROESSLER</ccoName>
          <crdNumber>005178959</crdNumber>
          <ccoStreet1>443 NORTH WILLSON AVENUE</ccoStreet1>
          <ccoCity>BOZEMAN</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-MT"/>
          <ccoZipCode>59715</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="PINE ADVISOR SOLUTIONS LLC" ccoEmployerId="82-3455885"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <securityMatterSeriesInfo isRegistrantSubmittedMatter="Y"/>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>DESTRA CAPITAL INVESTMENTS LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-68006</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000148299</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderwriterRssdId>N/A</principalUnderwriterRssdId>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-MT"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>COHEN AND COMPANY, LTD</publicAccountantName>
          <pcaobNumber>00925</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantRssdId>N/A</publicAccountantRssdId>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-OH"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <paymentDividendSeries isPaymentDividend="Y"/>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Destra Multi-Alternative Fund</mgmtInvFundName>
        <mgmtInvLei>549300SP0KUS5HR5P569</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>DESTRA CAPITAL ADVISORS LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-71604</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000148574</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserRssdId>N/A</investmentAdviserRssdId>
            <investmentAdviserStateCountry investmentAdviserState="US-MT" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>VALIDEX GLOBAL INVESTING</subAdviserName>
            <subAdviserFileNo>801-78236</subAdviserFileNo>
            <subAdviserCrdNo>000166575</subAdviserCrdNo>
            <subAdviserLei>N/A</subAdviserLei>
            <subAdviserRssdId>N/A</subAdviserRssdId>
            <isSubAdviserAffiliated>N</isSubAdviserAffiliated>
            <subAdviserStateCountry subAdviserState="US-CA" subAdviserCountry="US"/>
            <isSubAdviserHired>N</isSubAdviserHired>
          </subAdviser>
        </subAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Equiniti Trust Company, LLC</transferAgentName>
            <transferAgentFileNo>84-00416</transferAgentFileNo>
            <transferAgentLei>254900TS5EWP83BEOU02</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Houlihan Capital Advisors, LLC</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceRssdId>N/A</pricingServiceRssdId>
            <pricingServiceStateCountry pricingServiceState="US-IL" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>INTERCONTINENTAL EXCHANGE, INC</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceRssdId>N/A</pricingServiceRssdId>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>UMB Bank NA</custodianName>
            <custodianLei>VNOO6EITDJ2YUEBMSZ83</custodianLei>
            <custodianStateCountry custodianState="US-MO" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
            <adminLei>N/A</adminLei>
            <adminRssdId>N/A</adminRssdId>
            <adminOther>84-05829</adminOther>
            <idNumberDesc>SEC Filing Number</idNumberDesc>
            <adminStateCountry adminState="US-OH" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>INTERACTIVE BROKERS</brokerName>
            <brokerFileNo>8-47257</brokerFileNo>
            <brokerCrdNo>000036418</brokerCrdNo>
            <brokerLei>50OBSE5T5521O6SMZR28</brokerLei>
            <brokerStateCountry brokerState="US-CT" brokerCountry="US"/>
            <grossCommission>14188.54000000</grossCommission>
          </broker>
          <broker>
            <brokerName>UMB</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>VNOO6EITDJ2YUEBMSZ83</brokerLei>
            <brokerStateCountry brokerState="US-MO" brokerCountry="US"/>
            <grossCommission>9.05</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>14197.59000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>UMB</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>VNOO6EITDJ2YUEBMSZ83</principalLei>
            <principalStateCountry principalState="US-MO" principalCountry="US"/>
            <principalTotalPurchaseSale>6465713.87005599</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>INSPEREX LLC</principalName>
            <principalFileNo>8-52081</principalFileNo>
            <principalCrdNo>000101420</principalCrdNo>
            <principalLei>254900XF92VANF1UCI97</principalLei>
            <principalStateCountry principalState="US-FL" principalCountry="US"/>
            <principalTotalPurchaseSale>2000000.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>INTERACTIVE BROKERS</principalName>
            <principalFileNo>8-47257</principalFileNo>
            <principalCrdNo>000036418</principalCrdNo>
            <principalLei>50OBSE5T5521O6SMZR28</principalLei>
            <principalStateCountry principalState="US-CT" principalCountry="US"/>
            <principalTotalPurchaseSale>12506664.13000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>20972378.00005599</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>91237091.12000000</mnthlyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>Common stock</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="DMA"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <isRepurchaseSecurity>N</isRepurchaseSecurity>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>1.35000000</managementFee>
      <netOperatingExpenses>3.29000000</netOperatingExpenses>
      <marketPricePerShare>8.11000000</marketPricePerShare>
      <netAssetValuePerShare>8.87</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="Destra Multi-Alternative Fund" signedDate="2026-06-10" signature="Derek Mullins" title="Chief Financial Officer and Treasurer"/>
  </formData>
</edgarSubmission>
