DTF Tax-Free Income 2028 Term Fund
31 hedge funds and large institutions have $34M invested in DTF Tax-Free Income 2028 Term Fund in 2026 Q1 according to their latest regulatory filings, with 3 funds opening new positions, 12 increasing their positions, 5 reducing their positions, and 5 closing their positions.
140% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 5
4% less capital invested
Capital invested by funds: $35.3M → $34M (-$1.33M)
2.2% less ownership
Funds ownership: 44.18% → 41.98% (-2.2%)
6% less funds holding
Funds holding: 33 → 31 (-2)
40% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 5
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
+$223K |
| 2 |
HC
Hara Capital
Bellevue,
Washington
|
+$181K |
| 3 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$156K |
| 4 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
+$114K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$91.5K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SMA
Seven Mile Advisory
Ewing,
New Jersey
|
-$1.44M |
| 2 |
Focus Partners Wealth
Boston,
Massachusetts
|
-$352K |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$298K |
| 4 |
Corient Private Wealth
Miami,
Florida
|
-$201K |
| 5 |
ACA
Aptus Capital Advisors
Fairhope,
Alabama
|
-$166K |
DTF Hedge Fund Activity: Q1 2026 in Review
31 of the 8,127 institutional investors tracked by Wall St. Rank reported a position in DTF Tax-Free Income 2028 Term Fund (DTF) for Q1 2026, worth a combined $34M — down 3.8% from $35.3M a quarter earlier.
Sellers outnumbered buyers: 5 funds closed out of DTF and 3 opened new positions — a net loss of 2 holders — while 5 trimmed existing stakes and 12 added.
The largest buyer was LPL Financial, adding an estimated $223K. The largest seller was Seven Mile Advisory, exiting entirely with an estimated $1.44M sold.
- 31 institutional investors held DTF Tax-Free Income 2028 Term Fund (DTF) as of Q1 2026, down from 33 in Q4 2025.
- Funds reported $34M of DTF Tax-Free Income 2028 Term Fund stock for Q1 2026, down 3.8% quarter-over-quarter.
- 3 funds opened new DTF Tax-Free Income 2028 Term Fund positions in Q1 2026 and 5 closed out, a net change of -2 holders.
- The largest DTF Tax-Free Income 2028 Term Fund buyer in Q1 2026 was LPL Financial, an estimated $223K added.
- The largest DTF Tax-Free Income 2028 Term Fund seller in Q1 2026 was Seven Mile Advisory, an estimated $1.44M sold.
Based on aggregated 13F filings for Q1 2026.