DTF Tax-Free Income 2028 Term Fund
26 hedge funds and large institutions have $32.2M invested in DTF Tax-Free Income 2028 Term Fund in 2025 Q1 according to their latest regulatory filings, with 2 funds opening new positions, 5 increasing their positions, 11 reducing their positions, and 5 closing their positions.
4.6% less ownership
Funds ownership: 45.43% → 40.83% (-4.6%)
10% less capital invested
Capital invested by funds: $35.8M → $32.2M (-$3.64M)
13% less funds holding
Funds holding: 30 → 26 (-4)
55% less repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 11
60% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 5
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$3.28M |
| 2 |
BHPW
Beverly Hills Private Wealth
Beverly Hills,
California
|
+$644K |
| 3 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$191K |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$24.8K |
| 5 |
Wells Fargo
San Francisco,
California
|
+$3.39K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HC
Hara Capital
Bellevue,
Washington
|
-$3.7M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$1.12M |
| 3 |
Corient Private Wealth
Miami,
Florida
|
-$961K |
| 4 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
-$942K |
| 5 |
Allspring Global Investments
Charlotte,
North Carolina
|
-$393K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
SPIA
26
Steward Partners Investment Advisory
New York
| $3.1K | – | – | – |
|
|
27
Allspring Global Investments
Charlotte,
North Carolina
| – | -$393K | -35,047 | Closed |
|
|
JWCA
28
J.W. Cole Advisors
Tampa,
Florida
| – | -$166K | -14,780 | Closed |
|
|
GS
29
GWN Securities
Palm Beach Gardens,
Florida
| – | -$155K | -13,800 | Closed |
|
|
FFA
30
Farther Finance Advisors
San Francisco,
California
| – | -$375 | -33 | Closed |
|
31
CIBC Private Wealth Group
Atlanta,
Georgia
| – | -$11 | -1 | Closed |
|
DTF Hedge Fund Activity: Q1 2025 in Review
26 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in DTF Tax-Free Income 2028 Term Fund (DTF) for Q1 2025, worth a combined $32.2M — down 10% from $35.8M a quarter earlier.
Sellers outnumbered buyers: 5 funds closed out of DTF and 2 opened new positions — a net loss of 3 holders — while 11 trimmed existing stakes and 5 added.
The largest buyer was Sit Investment Associates, adding an estimated $3.28M. The largest seller was Hara Capital, cutting an estimated $3.7M.
- 26 institutional investors held DTF Tax-Free Income 2028 Term Fund (DTF) as of Q1 2025, down from 30 in Q4 2024.
- Funds reported $32.2M of DTF Tax-Free Income 2028 Term Fund stock for Q1 2025, down 10% quarter-over-quarter.
- 2 funds opened new DTF Tax-Free Income 2028 Term Fund positions in Q1 2025 and 5 closed out, a net change of -3 holders.
- The largest DTF Tax-Free Income 2028 Term Fund buyer in Q1 2025 was Sit Investment Associates, an estimated $3.28M added.
- The largest DTF Tax-Free Income 2028 Term Fund seller in Q1 2025 was Hara Capital, an estimated $3.7M sold.
Based on aggregated 13F filings for Q1 2025.