New Positions
9 managers initiated
Top five by reported value
- Avise Financial Cooperative, Inc.$537.0K
- Sanctuary Advisors, LLC$210.4K
- LPL Financial LLC$203.6K
- Savvy Advisors, Inc.$166.1K
- Closed-End Fund Advisors, Inc.$164.8K
DTF Tax-Free Income 2028 Term Fund Inc NEW YORK STOCK EXCHANGE, INC.:DTF
Institutional holders, quarter-over-quarter share deltas, and new and closed positions disclosed in Form 13F. Period 2025-12-31 · prior 2025-09-30.
9 new8 added16 reduced2 exited
Total Institutional Holders
33
as of 2025-12-31
Top Holder
Focus Partners Wealth
$5.5M
Largest QoQ Increase
Focus Partners Wealth
+463,604 sh
Largest QoQ Decrease
Kovitz Investment Group Partners, LLC
-466,941 sh
New Positions(9)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Avise Financial Cooperative, Inc. | 47,027 | +47,027 | $537.0K | +$537.0K | — |
| Sanctuary Advisors, LLC | 18,422 | +18,422 | $210.4K | +$210.4K | — |
| LPL Financial LLC | 17,831 | +17,831 | $203.6K | +$203.6K | — |
| Savvy Advisors, Inc. | 14,545 | +14,545 | $166.1K | +$166.1K | — |
| Closed-End Fund Advisors, Inc. | 14,433 | +14,433 | $164.8K | +$164.8K | — |
| Garner Asset Management Corp | 6,154 | +6,154 | $70.3K | +$70.3K | — |
| WFA of San Diego, LLC | 2,000 | +2,000 | $22.9K | +$22.9K | — |
| Pinnacle Wealth Planning Services, Inc. | 1,250 | +1,250 | $14.3K | +$14.3K | — |
| Cedar Wealth Management, LLC | 732 | +732 | $8.4K | +$8.4K | — |
Added To(8)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Focus Partners Wealth | 480,856 | +463,604 | $5.5M | +$5.3M | 2687.2% |
| Beverly Hills Private Wealth, LLC | 334,925 | +26,327 | $3.8M | +$297.6K | 8.5% |
| Hara Capital LLC | 288,189 | +12,898 | $3.3M | +$144.5K | 4.7% |
| Karpus Management, Inc. | 21,031 | +9,496 | $240.2K | +$108.3K | 82.3% |
| Prestige Wealth Management Group LLC | 2,400 | +2,000 | $26.9K | +$22.3K | 500.0% |
| MORGAN STANLEY | 80,712 | +1,501 | $921.7K | +$16.3K | 1.9% |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 19,492 | +805 | $222.6K | +$9.0K | 4.3% |
| Basepoint Wealth LLC | 19,638 | +167 | $224.3K | +$1.7K | 0.8% |
Reduced(16)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| RIVERNORTH CAPITAL MANAGEMENT, LLC | 62,411 | -43,655 | $712.7K | -$499.6K | -41.1% |
| 1607 Capital Partners, LLC | 95,629 | -20,000 | $1.1M | -$229.6K | -17.3% |
| J.W. COLE ADVISORS, INC. | 13,080 | 0 | $0 | -$149.5K | 0.0% |
| UBS Group AG | 597 | -9,170 | $6.8K | -$104.8K | -93.9% |
| MELFA WEALTH MANAGEMENT, LLC | 10,939 | -3,400 | $124.9K | -$39.0K | -23.7% |
| Centennial Bank/AR/ | 1,500 | -1,500 | $17.1K | -$16.8K | -50.0% |
| ADVISOR GROUP HOLDINGS, INC. | 807 | -1,043 | $9.2K | -$11.8K | -56.4% |
| Almitas Capital LLC | 350,940 | 0 | $4.0M | -$3.5K | 0.0% |
| SEVEN MILE ADVISORY | 126,477 | 0 | $1.4M | -$1.3K | 0.0% |
| CITY OF LONDON INVESTMENT MANAGEMENT CO LTD | 71,012 | 0 | $811.0K | -$710 | 0.0% |
| CI Private Wealth, LLC | 17,541 | -18 | $200.3K | -$381 | -0.1% |
| Corps Capital Advisors, LLC | 19,000 | 0 | $217.0K | -$190 | 0.0% |
| Nuveen, LLC | 16,077 | 0 | $183.6K | -$161 | 0.0% |
| Aptus Capital Advisors, LLC | 14,545 | 0 | $166.1K | -$145 | 0.0% |
| SIT INVESTMENT ASSOCIATES INC | 920,582 | 0 | $10.5K | -$9 | 0.0% |
| WELLS FARGO & COMPANY/MN | 501 | 0 | $5.7K | $0 | 0.0% |
Sold Out(2)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Kovitz Investment Group Partners, LLC | 0 | -466,941 | $0 | -$5.3M | — |
| Steward Partners Investment Advisory, LLC | 0 | -277 | $0 | -$3.2K | — |
Top Holders by reported value
Ranked by the dollar value reported on the latest Form 13F. Share counts reflect long positions as of 2025-12-31.
| Manager | Shares | $ Value | Δ Shares | QoQ % |
|---|---|---|---|---|
| Focus Partners Wealth | 480,856 | $5.5M | +463,604 | 2687.2% |
| Almitas Capital LLC | 350,940 | $4.0M | 0 | 0.0% |
| Beverly Hills Private Wealth, LLC | 334,925 | $3.8M | +26,327 | 8.5% |
| Hara Capital LLC | 288,189 | $3.3M | +12,898 | 4.7% |
| SEVEN MILE ADVISORY | 126,477 | $1.4M | 0 | 0.0% |
| 1607 Capital Partners, LLC | 95,629 | $1.1M | -20,000 | -17.3% |
| MORGAN STANLEY | 80,712 | $921.7K | +1,501 | 1.9% |
| CITY OF LONDON INVESTMENT MANAGEMENT CO LTD | 71,012 | $811.0K | 0 | 0.0% |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | 62,411 | $712.7K | -43,655 | -41.1% |
| Avise Financial Cooperative, Inc. | 47,027 | $537.0K | +47,027 | — |
| Karpus Management, Inc. | 21,031 | $240.2K | +9,496 | 82.3% |
| Basepoint Wealth LLC | 19,638 | $224.3K | +167 | 0.8% |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 19,492 | $222.6K | +805 | 4.3% |
| Corps Capital Advisors, LLC | 19,000 | $217.0K | 0 | 0.0% |
| Sanctuary Advisors, LLC | 18,422 | $210.4K | +18,422 | — |
| LPL Financial LLC | 17,831 | $203.6K | +17,831 | — |
| CI Private Wealth, LLC | 17,541 | $200.3K | -18 | -0.1% |
| Nuveen, LLC | 16,077 | $183.6K | 0 | 0.0% |
| Aptus Capital Advisors, LLC | 14,545 | $166.1K | 0 | 0.0% |
| Savvy Advisors, Inc. | 14,545 | $166.1K | +14,545 | — |
New & Closed Positions this quarter
Closed Positions
2 managers exited
Top five by prior-quarter value
Methodology
Form 13F is the SEC's quarterly disclosure for institutional investment managers exercising discretion over $100 million or more in qualifying U.S. equity securities. Managers must file within 45 days of each calendar quarter end, which is why holdings shown here reflect a snapshot at the period date — not real-time positioning.
Quarter-over-quarter deltas compare each manager's most recently reported share count for DTF against its prior-quarter count. New positions are entries where the prior count was zero; closed positions are entries where the current count is zero. Amendments (13F-HR/A) replace prior filings for the same period.
Source: SEC EDGAR Form 13F (XML information tables). Dollar values are as reported by the manager and may use mid-quarter pricing conventions. CUSIP-to-ticker resolution is best-effort.