DTF Tax-Free Income 2028 Term Fund
28 hedge funds and large institutions have $32.2M invested in DTF Tax-Free Income 2028 Term Fund in 2025 Q2 according to their latest regulatory filings, with 4 funds opening new positions, 9 increasing their positions, 5 reducing their positions, and 1 closing their positions.
300% more first-time investments, than exits
New positions opened: 4 | Existing positions closed: 1
80% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 5
8% more funds holding
Funds holding: 26 → 28 (+2)
0% more capital invested
Capital invested by funds: $32.2M → $32.2M (+$62.9K)
0.16% more ownership
Funds ownership: 40.83% → 40.99% (+0.16%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AC
Almitas Capital
Santa Monica,
California
|
+$453K |
| 2 |
JWCA
J.W. Cole Advisors
Tampa,
Florida
|
+$165K |
| 3 |
HC
Hara Capital
Bellevue,
Washington
|
+$85.4K |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$84.7K |
| 5 |
BHPW
Beverly Hills Private Wealth
Beverly Hills,
California
|
+$77.7K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
-$306K |
| 2 |
Kovitz Investment Group Partners
Chicago,
Illinois
|
-$247K |
| 3 |
Morgan Stanley
New York
|
-$170K |
| 4 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$115K |
| 5 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
-$39.2K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Wells Fargo
San Francisco,
California
| $8.97K | -$11 | -1 | -0.1% |
|
|
PWMG
27
Prestige Wealth Management Group
Flemington,
New Jersey
| $4.48K | – | – | – |
|
|
SPIA
28
Steward Partners Investment Advisory
New York
| $3.1K | – | – | – |
|
|
29
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
| – | -$306K | -27,326 | Closed |
|
DTF Hedge Fund Activity: Q2 2025 in Review
28 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in DTF Tax-Free Income 2028 Term Fund (DTF) for Q2 2025, worth a combined $32.2M — up 0.2% from $32.2M a quarter earlier.
Buyers outnumbered sellers: 4 funds opened new DTF positions and 1 closed out — a net gain of 3 holders — while 9 added to existing stakes and 5 trimmed.
The largest buyer was Almitas Capital, adding an estimated $453K. The largest seller was Thrivent Financial for Lutherans, exiting entirely with an estimated $306K sold.
- 28 institutional investors held DTF Tax-Free Income 2028 Term Fund (DTF) as of Q2 2025, up from 26 in Q1 2025.
- Funds reported $32.2M of DTF Tax-Free Income 2028 Term Fund stock for Q2 2025, up 0.2% quarter-over-quarter.
- 4 funds opened new DTF Tax-Free Income 2028 Term Fund positions in Q2 2025 and 1 closed out, a net change of +3 holders.
- The largest DTF Tax-Free Income 2028 Term Fund buyer in Q2 2025 was Almitas Capital, an estimated $453K added.
- The largest DTF Tax-Free Income 2028 Term Fund seller in Q2 2025 was Thrivent Financial for Lutherans, an estimated $306K sold.
Based on aggregated 13F filings for Q2 2025.